GDS Holdings (GDS) Capital Expenditures (2015 - 2026)
GDS Holdings (GDS) posted Capital Expenditures of -$111.6 million for Q1 2026, up 14.65% on a QoQ basis from -$130.8 million in Q4 2025, and up 19.74% year-over-year from -$93.2 million in Q1 2025.
Analysis
GDS Holdings (GDS) Capital Expenditures (2015 - 2026) Analysis & Trends
GDS Holdings has reported Capital Expenditures for 12 years, with the latest figure at -$111.6 million in Q1 2026.
- On a quarterly basis, Capital Expenditures rose 19.74% year-over-year to -$111.6 million in Q1 2026; TTM through Mar 2026 was -$618.7 million, a 29.23% increase from a year earlier, with the FY2025 full-year figure at -$659.3 million, down 62.29% from the prior year.
- Capital Expenditures was -$111.6 million for Q1 2026 at GDS Holdings, up from -$130.8 million in the prior quarter.
- The five-year high for Capital Expenditures was -$52.2 million in Q4 2024, with the low at -$413.1 million in Q3 2024.
- Average Capital Expenditures over 5 years is -$218.7 million, with a median of -$202.6 million recorded in 2023.
- The sharpest annual moves came in 2024 and 2025: Capital Expenditures surged 65.25% in 2024, then sank 150.32% in 2025.
- Over 5 years, Capital Expenditures stood at -$309.6 million in 2022, then jumped by 51.43% to -$150.4 million in 2023, then soared by 65.25% to -$52.2 million in 2024, then tumbled by 150.32% to -$130.8 million in 2025, then rose by 14.65% to -$111.6 million in 2026.
- The last three Capital Expenditures figures came in at -$111.6 million (Q1 2026), -$130.8 million (Q4 2025), and -$199.7 million (Q3 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capital Expenditures (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 1.58 Bn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | 855.56 Mn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | 410.30 Mn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | 1.29 Bn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | - |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | 565.02 Mn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | -223.03 Mn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | - |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | - |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | -111.63 Mn |
| Dec 31, 2025 | -130.79 Mn |
| Sep 30, 2025 | -199.72 Mn |
| Jun 30, 2025 | -176.56 Mn |
| Mar 31, 2025 | -139.09 Mn |
| Dec 31, 2024 | -52.25 Mn |
| Sep 30, 2024 | -413.08 Mn |
| Jun 30, 2024 | -269.84 Mn |
| Mar 31, 2024 | -220.92 Mn |
| Dec 31, 2023 | -150.37 Mn |
| Sep 30, 2023 | -202.63 Mn |
| Jun 30, 2023 | -195.16 Mn |
| Mar 31, 2023 | -297.35 Mn |
| Dec 31, 2022 | -309.58 Mn |
| Sep 30, 2022 | -247.73 Mn |
| Jun 30, 2022 | -260.45 Mn |
| Mar 31, 2022 | -340.61 Mn |
| Dec 31, 2021 | -363.10 Mn |
| Sep 30, 2021 | -503.14 Mn |
| Jun 30, 2021 | -289.38 Mn |