DLR Analysis — TradeApes

DIGITAL REALTY TRUST, INC. (DLR)

Real Estate REITs

$186.79 close · Jun 06, 2026

Above 200 SMA

52W -8.4% from High

Methodology Breakdown

Triangulated across multiple voting methods. The breakdown below shows each method's output and which ones voted on the final verdict.

Method	Value	Role
DCF (Base Case)	$124.46	REFERENCE
DCF (TTM-anchored)	$182.71	REFERENCE
Peer Multiples	$90.11	REFERENCE
Earnings Power Value	$86.41	REFERENCE
Book Value Anchor	$77.99	REFERENCE
Earnings Anchor	$62.20	REFERENCE
FFO Multiple	$114.70	REFERENCE
NAV Cap Rate	$111.50	REFERENCE

Triangulation spread: 3% across voting methods.

Health Score

Out of 100

Mixed

Pillar Scores

Financial Strength 55

Operating Trend 50

Valuation 50

Capital Allocation 50

Risk Management 80

Positives

↑ Historically cheap — EV/EBITDA in bottom 25% of its 5-year range +5.0

↑ Net cash position — more cash on hand than total debt +3.8

↑ Free cash flow positive — business generates real spendable cash +2.5

Concerns

↓ Extreme P/E — above 45×, very high expectations embedded in price -5.0

↓ Weak interest coverage — earnings barely cover debt service -3.8

↓ Piotroski F-Score 0–3 — multiple financial weakness signals -1.3

Signal contribution: +11.3 from strengths -10.1 from concerns

Health Score Trend 7 snapshots

Financials

TTM Financials

Revenue ?Total sales generated from the company's primary business activities over the trailing twelve months.	6.34B
Gross Profit ?Revenue minus cost of goods sold. What remains before operating expenses — reflects pricing power and production efficiency.	—
Operating Income ?Profit from core business operations after all operating expenses (EBIT). Excludes interest and taxes.	729.4M
Net Income ?Bottom-line profit after all expenses, interest, and taxes are deducted from revenue.	1.38B
Free Cash Flow ?Operating cash flow minus capital expenditures. The actual cash the business generates after maintaining its assets — the truest measure of profitability.	2.55B
EBITDA ?Earnings before interest, taxes, depreciation & amortization. A proxy for operating cash earnings that strips out accounting and financing differences.	2.68B
Total Debt ?Combined short-term and long-term interest-bearing debt obligations. Compare against cash and earnings to gauge leverage risk.	—
Cash & Equivalents ?Highly liquid assets on hand — cash, money market funds, and short-term securities. The company's immediate financial cushion.	2.43B

Valuation

Market Cap	65.98B
Enterprise Value	64.78B
EV / Revenue	10.2x
EV / EBITDA	24.2x
P/E (TTM)	47.7x
Forward P/E (extrapolated)	17.5x
PEG	0.1x
P/FCF	25.9x
FCF Yield	3.9%

EV/EBITDA vs history — 47% percentile (mid-range)

CheapMidExpensive

EV/Sales vs history — 0% percentile (historically cheap)

CheapMidExpensive

P/Book vs history — 6% percentile (historically cheap)

CheapMidExpensive

DCF Fair Value Range (base CAGR: 14.3%)

Bear

$178.30

Base

$263.46

Bull

$386.07

Bear $178 Current $186.79 (in range) Bull $386

Market is pricing in 8.0% FCF growth annually — base model assumes 14.3%

Key Metrics

Gross Margin ?Gross profit as a % of revenue. Measures how efficiently the company produces its goods or services — higher is better.	—
EBITDA Margin ?EBITDA as a % of revenue. Shows core operating profitability before accounting adjustments — useful for comparing across industries.	42.3%
Net Margin ?Net income as a % of revenue. The ultimate measure of overall profitability after every expense, interest payment, and tax is accounted for.	21.8%
FCF Margin ?Free cash flow as a % of revenue. Shows how much of each dollar of revenue converts into real, spendable cash.	40.1%
Revenue Growth (YoY) ?Year-over-year change in total revenue. Measures business momentum — sustained growth above 15% is typically considered strong.	12.6%
Net Income Growth (YoY) ?Year-over-year change in net income. Shows whether profits are growing faster or slower than revenue — a key indicator of improving or deteriorating quality.	231.7%
Piotroski F-Score ?Score from 0–9 measuring financial strength across profitability, leverage, and efficiency signals. 8–9 = strong, 0–2 = distressed.	5 / 9
Altman Z-Score ?Bankruptcy risk model. Above 2.99 = safe zone, 1.81–2.99 = grey zone, below 1.81 = distress signal. Most useful for manufacturing companies.	—

Community Sentiment

Not enough ratings yet.
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Quarterly Financials

Metric	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25	Q4 '25	Q3 '25	Q2 '25	Q1 '25	Q4 '25	Q '24	Q '24
Revenue ?Total quarterly sales from primary business operations.	1.64B	1.63B	1.58B	1.49B	1.41B	1.44B	1.43B	1.36B	1.33B	1.37B	1.40B	1.37B
Gross Profit ?Quarterly revenue minus cost of goods sold.	—	—	—	—	—	—	—	—	—	—	—	—
Operating Income ?Quarterly profit from core operations before interest and taxes (EBIT).	267.8M	111.5M	138.4M	211.7M	196.9M	144.3M	168.3M	9.9M	149.4M	134.0M	58.2M	154.9M
Net Income ?Quarterly bottom-line profit after all expenses and taxes.	179.3M	103.2M	67.8M	1.03B	110.0M	175.4M	51.2M	80.2M	281.5M	29.8M	733.6M	118.2M
FCF ?Quarterly free cash flow: operating cash minus capital expenditures.	532.4M	719.0M	652.9M	641.2M	399.1M	769.5M	566.5M	573.2M	352.3M	462.3M	358.4M	464.4M

Revenue & Free Cash Flow

Market Cap vs. DCF Fair Value Band

Shaded region = bear-to-bull DCF range. Line = actual market cap.

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Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Scores and valuations are derived from SEC filings and publicly available data. Always do your own research before making investment decisions.