GDS Holdings (GDS) FCF Margin (2015 - 2026)
GDS Holdings (GDS) posted FCF Margin of 45.7% for Q2 2026, up 26.89% on a QoQ basis from 36.02% in Q1 2026, and down 2774.0% year-over-year from 1.71% in Q2 2025.
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GDS Holdings (GDS) FCF Margin (2015 - 2026) Analysis & Trends
GDS Holdings has reported FCF Margin for 12 years, with the latest figure at 45.7% in Q2 2026.
- On a quarterly basis, FCF Margin fell 2774.0% year-over-year to 45.7% in Q2 2026; TTM through Jun 2026 was 54.16%, a 2399.0% decrease from a year earlier, with the FY2025 full-year figure at 69.77%, up 2243.0% from the prior year.
- FCF Margin was 45.7% for Q2 2026 at GDS Holdings, up from 36.02% in the prior quarter.
- The five-year high for FCF Margin was 147.88% in Q2 2022, with the low at 36.02% in Q1 2026.
- Average FCF Margin over 5 years is 80.97%, with a median of 79.27% recorded in 2023.
- The sharpest annual moves came in 2022 and 2024: FCF Margin sank 7599 bps in 2022, then surged 3974 bps in 2024.
- Over 5 years, FCF Margin stood at 126.58% in 2022, then slumped by 38 bps to 78.9% in 2023, then slumped by 38 bps to 48.71% in 2024, then surged by 33 bps to 64.97% in 2025, then fell by 30 bps to 45.7% in 2026.
- The last three FCF Margin figures came in at 45.7% (Q2 2026), 36.02% (Q1 2026), and 64.97% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 102.22 Bn | 100.02 Bn | 1.40 Bn | -19.47% |
| 2 | Terawulf | 8.24 Bn | 5.48 Bn | 32.37 Mn | -2,216.52% |
| 3 | Applied Digital | 7.59 Bn | 5.57 Bn | 97.29 Mn | -446.97% |
| 4 | Cipher Digital | 7.35 Bn | 3.35 Bn | 9.79 Mn | -2,632.52% |
| 5 | GDS Holdings | 6.47 Bn | 4.41 Bn | 97.89 Mn | 45.70% |
| 6 | Core Scientific | 5.72 Bn | 3.78 Bn | 70.04 Mn | -355.63% |
| 7 | Vnet | 1.71 Bn | 828.02 Mn | 74.45 Mn | 62.09% |
| 8 | Sify Technologies | 1.56 Bn | 1.56 Bn | 51.65 Mn | - |
| 9 | WhiteFiber | 758.96 Mn | 698.59 Mn | 18.88 Mn | - |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn | -128.24% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 45.70% |
| Mar 31, 2026 | 36.02% |
| Dec 31, 2025 | 64.97% |
| Sep 30, 2025 | 74.36% |
| Jun 30, 2025 | 73.44% |
| Mar 31, 2025 | 65.71% |
| Dec 31, 2024 | 48.71% |
| Sep 30, 2024 | 119.38% |
| Jun 30, 2024 | 85.45% |
| Mar 31, 2024 | 55.96% |
| Dec 31, 2023 | 78.90% |
| Sep 30, 2023 | 79.64% |
| Jun 30, 2023 | 86.96% |
| Mar 31, 2023 | 79.72% |
| Dec 31, 2022 | 126.58% |
| Sep 30, 2022 | 102.70% |
| Jun 30, 2022 | 147.88% |
| Mar 31, 2022 | 85.34% |
| Dec 31, 2021 | 124.76% |
| Sep 30, 2021 | 178.68% |