← GDS Holdings Ltd
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net loss (income) from discontinued operations | — | — | — | — | — | — | $161.6m | $359.4m | ($4.1b) | — | — | |
| Net Income (Loss) Attributable to Parent | ($276.4m) | — | — | ($442.1m) |
($666.4m)
-50.74%
|
($1.2b)
-78.15%
|
($1.3b)
-6.88%
|
($4.3b)
-238.09%
|
$3.4b
+179.84%
|
$949.6m
-72.28%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($403.4m) |
($326.9m)
+18.96%
|
($430.3m)
-31.62%
|
($500.2m)
-16.25%
|
($737.7m)
-47.49%
|
($1.3b)
-78.10%
|
($1.5b)
-14.91%
|
($4.3b)
-187.68%
|
$3.4b
+177.61%
|
$895.3m
-73.44%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | ($326.9m) | ($430.3m) | ($442.1m) | ($669.2m) | ($1.2b) | ($1.3b) | ($4.3b) | $3.3b | $959.4m | — | |
| Depreciation and amortization | $227.4m | $378.1m | $741.5m | $1.1b | $1.6b | $2.6b | $3.2b | $3.5b | $3.2b | $3.5b | $3.5b | |
| Amortization of Debt Issuance Costs | — | — | — | — | — | $11.6m | $16.8m | $20.0m | $16.3m | $36.6m | — | |
| Amortization of Debt Issuance Costs and Discounts | $5.9m | $48.1m | $61.4m | $99.4m | — | — | — | — | — | — | — | |
| Amortization of Intangible Assets | $13.9m | $25.1m | $53.0m | $58.3m | $68.7m | $192.5m | $235.3m | $314.8m | $214.4m | $196.7m | — | |
| Depreciation | $212.9m | $352.5m | $682.5m | $1.1b | $1.5b | $2.4b | $2.9b | $3.2b | $3.0b | $3.3b | $3.5b | |
| Amortization of debt issuance and commitment cost | — | — | $61.4m | $99.4m | $160.7m | $200.1m | $154.9m | $152.3m | $110.7m | $96.7m | — | |
| Deferred Income Tax Expense (Benefit) | ($10.6m) | ($11.6m) | ($36.6m) | ($50.2m) | ($89.7m) | ($48.5m) | ($99.2m) | ($295.9m) | ($181.6m) | ($97.3m) | ($97.3m) | |
| Deferred tax benefit | ($10.6m) | ($11.6m) | ($36.6m) | ($50.2m) | ($89.7m) | ($48.5m) | ($99.2m) | ($295.9m) | ($181.6m) | ($97.3m) | — | |
| Share-based Payment Arrangement, Noncash Expense | $64.2m | $59.8m | $105.9m | $189.8m | $333.7m | $391.3m | $290.8m | $336.6m | $296.5m | $283.4m | $305.2m | |
| Share-based Payment Arrangement, Expense | $64.2m | $59.8m | $105.9m | $189.8m | $333.7m | $391.3m | $290.8m | $336.6m | $296.5m | $283.4m | $305.2m | |
| Share-based compensation expenses | $64.2m | $59.8m | $105.9m | $189.8m | $333.7m | $391.3m | $290.8m | $336.6m | $296.5m | $283.4m | $305.2m | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.6b | |
| Operating Lease, Impairment Loss | — | — | — | — | — | — | — | $80.6m | $80.6m | $154.5m | — | |
| Impairment losses of long-lived assets | — | — | — | — | $0 | $0 | $12.8m | $3.0b | $0 | $1.6b | — | |
| Income (Loss) from Equity Method Investments | — | — | — | ($1.2m) | ($3.4m) | ($968k) | ($9.9m) | $110k | ($347k) | $715.9m | — | |
| Other Nonoperating Income (Expense) | $284k | $435k | $5.4m | $5.6m | $5.0m | ($1.6m) | $1.9m | $13.7m | $21.8m | $7.2m | — | |
| Share of results of equity method investees | — | — | — | $1.2m | $3.4m | $968k | $9.9m | ($110k) | $347k | ($715.9m) | — | |
| Gains on disposal of equity investments and subsidiaries | — | — | — | — | — | — | — | ($5.0m) | — | ($2.4b) | — | |
| Cash paid for equity investments | — | — | — | ($6.0m) | ($4.5m) | ($3.0m) | ($3.4m) | ($3.0m) | — | ($794.8m) | — | |
| Receipts from disposal of equity investments and subsidiaries | — | — | — | — | — | — | — | $23.6m | $39.0m | $3.0b | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | $79.4m | $134.6m | $157.7m | $342.2m | $465.2m | $38.0m | $678.8m | $156.3m | $665.9m | ($502.0m) | $116.5m | |
| Accounts Receivable, Credit Loss Expense (Reversal) | — | — | $241k | $274k | $2.0m | $10.1m | $9.9m | $18.3m | ($13.2m) | $18.8m | $116.5m | |
| Accounts receivable | ($79.4m) | ($134.6m) | ($157.7m) | ($342.2m) | ($465.2m) | ($38.0m) | ($678.8m) | ($156.3m) | ($665.9m) | $502.0m | $116.5m | |
| Increase (Decrease) in Accounts Payable | $43.8m | $33.9m | $25.3m | $22.5m | $119.2m | $35.5m | $189.7m | $18.0m | ($15.6m) | $5.4m | $5.4m | |
| Accrued expenses and other payables | $22.0m | ($80.3m) | ($56.7m) | ($20.4m) | ($139.9m) | ($121.8m) | ($123.5m) | ($70.4m) | $104.0m | ($11.2m) | — | |
| Purchases of property and equipment, accrued but unpaid | $987.8m | $1.7b | $4.3b | $4.6b | $8.0b | $9.7b | $7.8b | $6.0b | $3.2b | $4.7b | ($4.5b) | |
| Deferred revenue | — | $15.0m | $17.5m | $31.4m | $6.3m | $24.5m | $49.6m | $1.8m | ($45.7m) | $23.9m | — | |
| Other current assets | ($20.5m) | $11.5m | ($11.5m) | ($8.1m) | $65.8m | ($55.5m) | $3.9m | ($3.8m) | $109.8m | ($119.4m) | ($101.3m) | |
| Net Cash Provided by (Used in) Operating Activities | ($150.2m) |
($174.6m)
-16.23%
|
($12.9m)
+92.61%
|
$293.4m
+2372.94%
|
$320.9m
+9.36%
|
$1.2b
+274.39%
|
$2.9b
+137.90%
|
$2.1b
-27.74%
|
$1.9b
-6.14%
|
$3.4b
+73.61%
|
$3.0b
-9.88%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $987.8m | $1.7b | $4.3b | $4.6b | $8.0b | $9.7b | $7.8b | $6.0b | $3.2b | $4.7b | ($4.5b) | |
| Gain (Loss) on Disposition of Property Plant Equipment | $62k | ($40.0m) | ($2.2m) | $703k | $256k | $1.8m | $15.0m | $12.1m | $31.7m | $38.6m | ($4.2b) | |
| Cash paid for investments and loans to discontinued operations | — | — | — | — | — | — | ($1.2b) | ($1.0b) | ($553.5m) | — | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | $103.6m | — | — | — | — | — | — | — | — | — | ($3.8b) | |
| Cash paid for the asset acquisitions | — | — | ($115.2m) | ($363.9m) | ($180.9m) | ($179.8m) | ($2.3b) | ($231.8m) | ($85.2m) | ($2.0m) | — | |
| Deposits and prepayments for potential acquisitions | — | — | — | ($30.7m) | ($4.3m) | ($435.8m) | $19.0m | ($133.8m) | — | — | — | |
| Refund of deposits for potential acquisitions | — | — | — | — | — | $67.5m | $39.0m | $22.1m | $2.4m | $5.3m | — | |
| Non-cash effect of acquisitions of subsidiaries | — | — | — | $239.1m | $718.5m | $2.0b | $7.6m | $100.0m | $53.6m | — | — | |
| Net cash used in investing activities from continuing operations | ($1.1b) | — | — | — | — | — | ($10.5b) | ($4.5b) | ($1.8b) | ($3.0b) | ($3.5b) | |
| Net cash used in investing activities from discontinued operations | — | — | — | — | — | — | ($2.0b) | ($2.8b) | ($6.9b) | — | ($3.5b) | |
| Net Cash Provided by (Used in) Investing Activities | ($1.1b) | ($2.0b) | ($4.7b) | ($5.1b) | ($9.4b) | ($13.7b) | ($11.3b) | ($6.3b) | ($8.8b) | ($3.0b) | ($3.5b) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | $373.9m | $1.4b | $834.2m | — | $4.2b | $5.2b | $1.3b | $5.8b | $5.6b | $8.0b | ($8.7b) | |
| Proceeds from Issuance of Long-term Debt | $1.3b | $3.1b | $2.8b | — | — | — | — | — | — | — | $14.5b | |
| Proceeds from short-term borrowings | $339.8m | $553.5m | $943.1m | $467.7m | $1.2b | $3.8b | $4.9b | $1.4b | $1.9b | $1.9b | — | |
| Proceeds from long-term borrowings | $1.3b | $3.1b | $2.8b | $5.0b | $6.9b | $12.4b | $7.0b | $9.2b | $4.8b | $10.6b | — | |
| Repayment of short-term borrowings | ($433.0m) | ($381.1m) | ($776.2m) | ($758.9m) | ($438.9m) | ($902.7m) | ($8.2b) | ($2.3b) | ($394.8m) | ($3.3b) | — | |
| Repayment of long-term borrowings | ($373.9m) | ($1.4b) | ($834.2m) | ($2.0b) | ($4.2b) | ($5.2b) | ($1.3b) | ($5.8b) | ($5.6b) | ($8.0b) | — | |
| Payment of issuance cost and commitment cost of debts | ($57.4m) | ($62.5m) | ($91.1m) | ($156.7m) | ($112.5m) | ($150.0m) | ($109.4m) | ($287.9m) | ($54.8m) | ($80.4m) | — | |
| Proceeds from Issuance of Common Stock | — | — | — | $4.9b | $16.0b | — | — | — | — | $1.0b | $1.0b | |
| Payment of redeemable preferred shares dividends | ($77) | — | — | ($25) | ($65) | ($49) | ($52) | ($54) | ($54) | ($54) | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | $302.8m | — | — | — | — | — | — | — | |
| Payment under finance leases and other financing obligations | — | ($68.7m) | ($190.7m) | ($289.5m) | ($198.2m) | ($265.5m) | ($1.1b) | ($986.9m) | ($545.9m) | ($626.7m) | — | |
| Proceeds from other financing arrangements | — | — | — | $302.8m | $1.1b | $50.3m | $845.3m | $220.0m | $200.0m | $180.0m | — | |
| Net cash provided by financing activities from continuing operations | $2.1b | — | — | — | — | — | $3.5b |
$1.3b
-63.65%
|
$174.3m
-86.24%
|
$6.1b
+3403.27%
|
$8.1b
+32.90%
|
|
| Net cash provided by financing activities from discontinued operations | — | — | — | — | — | — | $2.7b |
$2.9b
+8.84%
|
$16.9b
+483.62%
|
— | $8.1b | |
| Net Cash Provided by (Used in) Financing Activities | $2.1b |
$2.3b
+10.25%
|
$4.9b
+107.81%
|
$8.4b
+71.46%
|
$20.1b
+140.90%
|
$8.1b
-59.69%
|
$4.9b
-40.19%
|
$3.1b
-35.29%
|
$17.1b
+442.80%
|
$6.1b
-64.20%
|
$8.1b
+32.90%
|
|
| Net (decrease) increase in cash and cash equivalents and restricted cash | $908.1m | $108.6m | $337.1m | $3.7b | $10.5b | ($4.5b) | ($3.1b) | ($964.1m) | $10.2b | $6.3b | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $337.1m | $3.7b | $10.5b | ($4.5b) | ($3.1b) | ($964.1m) | $10.2b | $6.3b | $15.0b | |
| Cash and cash equivalents and restricted cash of continuing operations at beginning of year | $1.8b | $1.9b | $2.3b | $6.0b | $16.5b | $12.0b | $8.9b | $7.9b | $8.1b | $14.4b | — | |
| Cash and cash equivalents and restricted cash at beginning of year | — | — | — | — | — | $16.5b | $12.0b | $8.9b | $18.1b | $14.4b | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $2.3b | $6.0b | $16.5b | $12.0b | $8.9b | $7.9b | $8.1b | $14.4b | $15.0b | |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | $55.5m | ($74.2m) | $206.3m | $164.4m | ($566.9m) | ($95.5m) | $416.2m | $154.3m | ($13.6m) | ($83.8m) | ($162.9m) | |
| Less: Cash and cash equivalents and restricted cash of discontinued operations at end of year or deconsolidation date | — | — | — | — | — | — | $668.2m | $420.6m | $10.0b | — | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Proceeds from Stock Options Exercised | — | $3.4m | $16.9m | $55.5m | $78.7m | $2.1m | — | — | — | — | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $228.7m | $358.7m | $633.1m | $841.4m | $1.1b | $1.5b | $1.8b | $2.1b | $2.1b | $1.7b | — | |
| Income Taxes Paid, Net | $5.6m | $1.4m | $3.4m | $17.0m | $211.6m | $252.1m | $343.3m | $302.7m | $389.8m | $561.9m | — | |
| Noncash investing and financing activities: | ||||||||||||
| Additional Financial Items | ||||||||||||
| Asset Retirement Obligation, Accretion Expense | $588k | $949k | $1.8m | $3.0m | $4.1m | $6.2m | $6.4m | $6.8m | $6.8m | $7.2m | — | |
| Deconsolidation, Gain (Loss), Amount | — | — | — | — | — | — | — | — | — | $2.4b | — | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | — | — | — | — | — | — | — | — | $4.5b | — | — | |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | — | — | — | — | — | — | — | — | ($400.8m) | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | $18.3m | ($12.3m) | $20.3m | ($6.0m) | ($21.0m) | ($7.6m) | $1.3m | ($267k) | $18.9m | $1.5m | — | |
| General and Administrative Expense | $227.4m | $228.9m | $329.6m | $411.4m | $702.5m | $1.0b | $1.2b | $1.2b | $917.9m | $897.9m | — | |
| Goodwill | $1.3b | $1.6b | $1.8b | $1.9b | $2.6b | $7.1b | $7.1b | $7.1b | $5.9b | $5.2b | $1.6b | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | — | — | ($777.1m) | $949.6m | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | — | ($770.9m) | $959.4m | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | — | $4.1b | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | — | — | $4.2b | — | — | |
| Income Tax Expense (Benefit) | ($8.3m) | ($6.1m) | ($9.4m) | $15.7m | $120.8m | $242.5m | $276.2m | ($14.8m) | $156.1m | $469.7m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $1.9b | $1.8b | — | |
| Investment Income, Interest | — | — | — | — | — | — | — | — | $89.8m | $154.0m | — | |
| Proceeds from Issuance of Redeemable Preferred Stock | — | — | — | $989.3m | — | — | — | — | — | — | — | |
| Proceeds from Noncontrolling Interests | — | — | — | — | $105.0m | $225.9m | — | $44.2m | — | $776.6m | — | |
| Net (loss) income | ($276.4m) | ($326.9m) | ($430.3m) | ($442.1m) | ($669.2m) | ($1.2b) | ($1.3b) | ($4.3b) | $3.3b | $959.4m | — | |
| Operating lease cost relating to prepaid land use rights | — | — | — | — | $20.4m | $40.4m | $101.8m | $108.3m | $110.1m | $108.4m | — | |
| Allowance for (reversal of) credit losses | ($2.2m) | — | $241k | $274k | $2.0m | $10.1m | $9.9m | $18.3m | ($13.2m) | $18.8m | — | |
| VAT recoverable | ($94.6m) | ($194.3m) | ($221.4m) | ($323.0m) | ($463.6m) | ($631.6m) | $1.2b | ($388.7m) | ($115.8m) | ($388.9m) | — | |
| Other non-current assets | ($24.8m) | ($23.1m) | ($37.0m) | ($8.7m) | ($72.1m) | ($53.7m) | $3.0m | $3.7m | $70.8m | $18.0m | — | |
| Amount due to related parties | ($2.7m) | — | — | — | — | — | — | — | — | $46.9m | — | |
| Other long-term liabilities | $23.8m | $59.1m | ($1.6m) | $1.3m | $9.0m | $15.2m | $2.4m | $8.8m | $10.5m | $10.5m | — | |
| Operating leases | — | — | — | $14.2m | ($28.9m) | $50.7m | $27.1m | $7.8m | $4.2m | $3.3m | — | |
| Proceeds from issuance of ordinary shares, net off underwriting commission | — | $649.8m | $1.3b | $4.9b | $16.0b | $0 | $0 | $0 | $0 | $1.0b | — | |
| Proceeds from issuance of convertible bonds | $327.6m | — | $1.9b | — | — | — | $3.9b | $3.9b | — | $3.9b | — | |
| Repayment of convertible bonds | — | — | — | — | — | — | — | ($2.1b) | — | ($575k) | — | |
| Capital contribution from non-controlling shareholders | — | — | — | — | $105.0m | $225.9m | — | $44.2m | — | $776.6m | — | |
| Payment of contingent consideration for the acquisition of subsidiaries | — | ($24.1m) | ($155.7m) | ($120.1m) | ($48.7m) | ($926.2m) | ($280.4m) | ($21.2m) | — | ($11.1m) | — | |
| Payment for acquisition of non-controlling interests | — | — | — | — | — | ($65.1m) | ($593.8m) | — | — | ($68.1m) | — | |
| Settlement of liability-classified restricted share award | $7.5m | $4.5m | $6.4m | $8.0m | $10.1m | $11.1m | $13.7m | $12.9m | $16.9m | $11.0m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.