Filing Flows

Filing Flows › Companies › Digital Realty Trust › Cash flow

Digital Realty Trust cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$338M in Q1 2026 · −$718M over twelve months

Operating cash flow$532M
Capital spending−$870M
Free cash flow−$338M
Cash / net income3.0×

Analysis

In Q1 2026, Digital Realty Trust generated $532M of operating cash flow and spent $870M on capital projects, leaving free cash flow of −$338M. That is $50.6M more than in Q1 2025 (−$388M).

Over the twelve months to Mar 31, 2026, operating cash flow was $2.5B; the largest uses were capital spending ($3.3B), dividends ($1.8B), other investing ($960M); besides operations, cash came from other financing ($1.9B), asset & business sales ($1.6B); the cash balance rose by $109M.

Operating cash flow was $532M against net income of $175M — 3.0× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$500M, payables −$170M, other non-cash −$24.5M.

Free cash flow

Digital Realty Trust: free cash flow by quarterDigital Realty Trust: free cash flow by quarter−$82.3MQ2 2024−$215MQ3 2024$34.1MQ4 2024−$388MQ1 2025−$63.1MQ2 2025−$34.5MQ3 2025−$283MQ4 2025−$338MQ1 2026
Operating cash flow less capital spending.
Digital Realty Trust: operating cash flow against capital spendingDigital Realty Trust: operating cash flow against capital spendingOperating cash flowCapital spending$573M$655MQ2 2024$567M$782MQ3 2024$769M$735MQ4 2024$399M$787MQ1 2025$641M$704MQ2 2025$653M$687MQ3 2025$719M$1.0BQ4 2025$532M$870MQ1 2026
Latest (Q1 2026): Operating cash flow $532M, Capital spending $870M.

Capital allocation, year by year

Digital Realty Trust: where the cash came from (up) and went (down), by fiscal yearDigital Realty Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $1.7BFY2021: Net borrowing $744MFY2021: Capital spending −$2.5BFY2021: Dividends −$1.4B$2.4BFY2021FY2022: Operating cash flow $1.7BFY2022: Net borrowing $3.4BFY2022: Asset sales $272MFY2022: Capital spending −$2.6BFY2022: Dividends −$1.5B$5.4BFY2022FY2023: Operating cash flow $1.6BFY2023: Net borrowing $334MFY2023: Asset sales $2.6BFY2023: Capital spending −$3.5BFY2023: Dividends −$1.5B$4.6BFY2023FY2024: Operating cash flow $2.3BFY2024: Net borrowing $37.3MFY2024: Asset sales $1.8BFY2024: Capital spending −$2.8BFY2024: Dividends −$1.6B$4.1BFY2024FY2025: Operating cash flow $2.4BFY2025: Net borrowing $191MFY2025: Asset sales $1.6BFY2025: Capital spending −$3.2BFY2025: Acquisitions −$309MFY2025: Dividends −$1.7B$4.2BFY2025
Over these 5 years operating cash flow totalled $9.7B; the largest uses were capital spending ($14.7B) and dividends ($7.7B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.4B
Debtnone
Net cash$2.4B

Digital Realty Trust's operations bring cash in ($2.5B over twelve months), and it spends more than that on capital projects: a gap of $718M funded from its $2.4B of cash and investments and from borrowing. That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Digital Realty Trust: sources (+) and uses (−) of cash, Q1 2026Digital Realty Trust: sources (+) and uses (−) of cash, Q1 2026Cash drawn (+) / kept (−)$1.0BDividends−$871MCapital spending−$870MOther financing$855MOperating cash flow$532MAcquisitions−$280MNet borrowing (+) / repaid (−)−$201MOther investing−$189MAsset & business sales$6.1MExchange rates−$2.4MPartners−$156K
Digital Realty Trust: sources (+) and uses (−) of cash, TTM to Q1 2026Digital Realty Trust: sources (+) and uses (−) of cash, TTM to Q1 2026Capital spending−$3.3BOperating cash flow$2.5BOther financing$1.9BDividends−$1.8BAsset & business sales$1.6BOther investing−$960MNet borrowing (+) / repaid (−)$155MCash drawn (+) / kept (−)−$109MExchange rates−$89.3MPartners$3.6M

From profit to cash

Digital Realty Trust: net income to operating cash flow, Q1 2026Digital Realty Trust: net income to operating cash flow, Q1 2026Net income$175MDepreciation & amortization$500MGains on disposals−$873KOther non-cash−$24.5MPayables−$170MOperating cash flow$532M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 2026$532M−$870M−$280M−$871M−$201M$1.0B−$338M
Q4 2025$719M−$1.0B—−$10.2M$111M−$152M−$283M
Q3 2025$653M−$687M−$67.0M−$436M−$156M$256M−$34.5M
Q2 2025$641M−$704M−$182M−$433M$402M−$1.2B−$63.1M
Q1 2025$399M−$787M—−$849M−$166M$1.5B−$388M
Q4 2024$769M−$735M—−$10.2M$657M−$1.7B$34.1M
Q3 2024$567M−$782M—−$419M$112M$105M−$215M
Q2 2024$573M−$655M—−$416M−$632M−$1.1B−$82.3M

Digital Realty Trust: income statement and cash flow

Digital Realty Trust, Q3 2026: revenue $1.9B (+21% year over year), operating margin 15.9%. The chart follows the revenue to costs, profit and cash.

Digital Realty Trust: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.