GDS Holdings (GDS) Operating Leases (2018 - 2026)
GDS Holdings' Operating Leases was $169.74 million in the quarter ended Jun 30, 2026, down 2.7% from $174.54 million a year earlier and down 1.0% from the prior quarter.
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Analysis
GDS Holdings (GDS) Operating Leases (2018 - 2026) Analysis & Trends
As of Dec 31, 2025, Operating Leases at GDS Holdings came in at $172.1 million, down 1.8% from the prior year.
- Operating Leases has now declined for four consecutive years, with a five-year compound annual growth rate of -6.2% (years ended Dec 2020 to Dec 2025).
- In earlier years, Operating Leases was $175.32 million in the year ended Dec 31, 2024 (-10.8%), $196.62 million in the year ended Dec 31, 2023 (-16.2%), $234.59 million in the year ended Dec 31, 2022 (-20.6%) and $295.57 million in the year ended Dec 31, 2021 (+25.0%).
- Quarterly Operating Leases has moved between $169.68 million (the quarter ended Dec 31, 2025) and $310.28 million (the quarter ended Mar 31, 2022) over five years.
- Compared with a year earlier, Operating Leases has declined for 17 straight quarters, with an average decline of 5.1% over the last eight quarters.
- The best year-over-year quarter for Operating Leases over five years was the quarter ended Sep 30, 2021 (growth of 44.3%); the worst was the quarter ended Mar 31, 2023 (a decline of 26.2%).
- Per Business Quant data, GDS's Operating Leases in the three quarters before the quarter ended Jun 30, 2026 was $171.53 million (quarter ended Mar 31, 2026), $169.68 million (quarter ended Dec 31, 2025) and $172.89 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Microsoft | 3,964.86 Bn | 3,888.01 Bn | 60.48 Bn |
| 2 | International Business Machines | 222.38 Bn | 173.19 Bn | 9.91 Bn |
| 3 | Cloudflare | 105.62 Bn | 89.15 Bn | 499.52 Mn |
| 4 | Equinix | 96.25 Bn | 84.81 Bn | 1.40 Bn |
| 5 | Nebius | 41.41 Bn | 14.84 Bn | 448.70 Mn |
| 6 | CoreWeave | 33.73 Bn | 20.82 Bn | 1.70 Bn |
| 7 | Verisign | 27.82 Bn | 25.04 Bn | 384.60 Mn |
| 8 | Nutanix | 18.15 Bn | 9.84 Bn | 651.35 Mn |
| 9 | GoDaddy | 13.94 Bn | 9.52 Bn | 828.20 Mn |
| 10 | GDS Holdings | 4.27 Bn | -4.01 Bn | 97.55 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 169.52 Mn |
| Mar 31, 2026 | 171.19 Mn |
| Dec 31, 2025 | 172.02 Mn |
| Sep 30, 2025 | 172.88 Mn |
| Jun 30, 2025 | 174.33 Mn |
| Mar 31, 2025 | 176.20 Mn |
| Dec 31, 2024 | 175.35 Mn |
| Sep 30, 2024 | 189.12 Mn |
| Jun 30, 2024 | 184.91 Mn |
| Mar 31, 2024 | 189.91 Mn |
| Dec 31, 2023 | 189.15 Mn |
| Sep 30, 2023 | 197.56 Mn |
| Jun 30, 2023 | 211.40 Mn |
| Mar 31, 2023 | 228.95 Mn |
| Dec 31, 2022 | 232.37 Mn |
| Sep 30, 2022 | 246.81 Mn |
| Jun 30, 2022 | 267.08 Mn |
| Mar 31, 2022 | 309.95 Mn |
| Dec 31, 2021 | 295.59 Mn |
| Sep 30, 2021 | 269.36 Mn |
API Access
GDS Holdings Operating Leases API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-leases&ticker=GDS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "ticker": "GDS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-leases&ticker=GDS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();