Filing Flows › Digital Realty Trust (DLR) › Q4 2025
Digital Realty Trust (DLR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
Digital Realty Trust (DLR) reported revenue of $1.6B for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +4% from the quarter before. Operating margin was 6.9%, net earnings $98.6M (6.0% of revenue).
Digital Realty Trust, Q4 2025: revenue $1.6B (+14% year over year), operating margin 6.9%, net earnings $98.6M, operating cash flow $719M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +4% | +14% |
| Operating profit | $113M | -19% | -22% |
| Net earnings | $98.6M | +45% | -48% |
| Operating cash flow | $719M | +10% | -7% |
What changed
Revenue was $1.6B in Q4 2025, up 14% year over year and up 4% from the previous quarter. Rental and other services was the largest line at 97% of revenue.
Operating profit was $0.11B, a 6.9% margin (down 3.2 points year over year). Operating profit fell $0.03B even though revenue rose $0.20B versus a year earlier, so costs grew faster than sales. Total costs grew 18% against revenue growth of 14%. The fastest-growing cost line was General & admin (+29%). Net earnings were $0.10B, down 48% year over year ($0.10B including minority interests, which bore $2.5M of losses). The effective tax rate was -11.2%.
Operating cash flow was $0.72B (down 7% year over year), 748% of net income including minority interests. Non-cash charges added back $0.49B of depreciation and amortization. Working capital and other items added $0.13B. Capital expenditures of $1.0B exceeded it, leaving free cash flow of −$0.28B.
Questions
What was Digital Realty Trust's revenue in the fourth quarter 2025?
Digital Realty Trust (DLR) reported revenue of $1.6B for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +4% from the quarter before.
Was Digital Realty Trust profitable in the fourth quarter 2025?
Operating profit was $113M (6.9% of revenue) and net earnings $98.6M.