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GDS Holdings Ltd. (9698) Ratios
GDS Holdings Ltd. Ratios
HK:9698's free cash flow for Q2 2026 was $159.49M. For the 2026 fiscal year, HK:9698's free cash flow was decreased by $-1.26B and operating cash flow was $1.42B. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 2.60 | 1.28 | 1.32 | 1.13 | 1.07 |
| Quick Ratio | 2.60 | 1.28 | 1.35 | 1.13 | 1.07 |
| Cash Ratio | 2.01 | 0.87 | 0.93 | 0.81 | 0.74 |
| Solvency Ratio | 0.09 | 0.13 | -0.01 | 0.04 | 0.03 |
| Operating Cash Flow Ratio | 0.46 | 0.21 | 0.25 | 0.27 | 0.09 |
| Short-Term Operating Cash Flow Coverage | 0.87 | 0.45 | 0.73 | 0.50 | 0.20 |
| Net Current Asset Value | $ -33.73B | $ -38.37B | $ -43.34B | $ -38.68B | $ -32.64B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.59 | 0.60 | 0.64 | 0.60 | 0.53 |
| Debt-to-Equity Ratio | 1.77 | 1.89 | 2.40 | 1.86 | 1.54 |
| Debt-to-Capital Ratio | 0.64 | 0.65 | 0.71 | 0.65 | 0.61 |
| Long-Term Debt-to-Capital Ratio | 0.57 | 0.56 | 0.64 | 0.54 | 0.45 |
| Financial Leverage Ratio | 2.98 | 3.13 | 3.73 | 3.11 | 2.93 |
| Debt Service Coverage Ratio | 0.83 | 0.68 | 0.28 | 0.52 | 0.39 |
| Interest Coverage Ratio | 0.84 | 0.60 | -1.21 | 0.29 | 0.34 |
| Debt to Market Cap | 0.85 | 1.11 | 3.15 | 1.26 | 0.49 |
| Interest Debt Per Share | 32.44 | 31.59 | 34.08 | 31.80 | 27.15 |
| Net Debt to EBITDA | 6.55 | 8.33 | 29.52 | 8.61 | 8.62 |
| Profitability Margins | |||||
| Gross Profit Margin | 22.62% | 21.53% | 19.31% | 20.76% | 22.76% |
| EBIT Margin | 13.17% | 11.16% | -22.73% | 9.63% | 7.28% |
| EBITDA Margin | 44.38% | 42.58% | 13.71% | 44.92% | 41.27% |
| Operating Profit Margin | 13.17% | 11.16% | -24.69% | 5.92% | 7.28% |
| Pretax Profit Margin | 12.50% | -5.96% | -43.19% | -10.61% | -12.13% |
| Net Profit Margin | 8.31% | 33.19% | -43.09% | -13.58% | -15.24% |
| Continuous Operations Profit Margin | 8.39% | -7.47% | -43.04% | -13.58% | -15.24% |
| Net Income Per EBT | 66.45% | -557.10% | 99.76% | 127.91% | 125.56% |
| EBT Per EBIT | 94.92% | -53.37% | 174.90% | -179.40% | -166.59% |
| Return on Assets (ROA) | 1.19% | 4.65% | -5.76% | -1.69% | -1.66% |
| Return on Equity (ROE) | 3.54% | 14.55% | -21.50% | -5.26% | -4.87% |
| Return on Capital Employed (ROCE) | 2.07% | 1.78% | -3.72% | 0.86% | 0.98% |
| Return on Invested Capital (ROIC) | 1.30% | 1.65% | -3.52% | 0.78% | 0.88% |
| Return on Tangible Assets | 1.27% | 5.09% | -6.44% | -1.90% | -1.90% |
| Earnings Yield | 2.06% | 10.90% | -35.59% | -4.78% | -2.22% |
| Efficiency Ratios | |||||
| Receivables Turnover | 3.77 | 3.42 | 3.61 | 3.88 | 4.51 |
| Payables Turnover | 4.58 | 3.12 | 2.35 | 2.39 | 1.55 |
| Inventory Turnover | 0.00 | 0.00 | -37.47 | 0.00 | 0.00 |
| Fixed Asset Turnover | 0.27 | 0.23 | 0.19 | 0.18 | 0.18 |
| Asset Turnover | 0.14 | 0.14 | 0.13 | 0.12 | 0.11 |
| Working Capital Turnover Ratio | 1.64 | 3.96 | 4.95 | 7.95 | 1.34 |
| Cash Conversion Cycle | 17.02 | -10.01 | -64.15 | -58.60 | -154.93 |
| Days of Sales Outstanding | 96.77 | 106.86 | 101.19 | 94.17 | 80.89 |
| Days of Inventory Outstanding | 0.00 | 0.00 | -9.74 | 0.00 | 0.00 |
| Days of Payables Outstanding | 79.75 | 116.87 | 155.60 | 152.77 | 235.82 |
| Operating Cycle | 96.77 | 106.86 | 91.45 | 94.17 | 80.89 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 2.16 | 1.32 | 1.41 | 1.95 | 0.83 |
| Free Cash Flow Per Share | -0.80 | -0.70 | -2.85 | -3.38 | -5.85 |
| Dividend Paid and CapEx Coverage Ratio | 0.72 | 0.64 | 0.33 | 0.36 | 0.12 |
| Capital Expenditure Coverage Ratio | 0.73 | 0.65 | 0.33 | 0.37 | 0.12 |
| Operating Cash Flow Coverage Ratio | 0.07 | 0.04 | 0.04 | 0.06 | 0.03 |
| Operating Cash Flow to Sales Ratio | 0.29 | 0.19 | 0.21 | 0.31 | 0.15 |
| Free Cash Flow Yield | -2.64% | -3.27% | -34.75% | -18.66% | -15.87% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 51.30 | -37.57 | -2.81 | -20.94 | -44.95 |
| Price-to-Sales (P/S) Ratio | 4.03 | 3.05 | 1.21 | 2.84 | 6.85 |
| Price-to-Book (P/B) Ratio | 1.71 | 1.34 | 0.60 | 1.10 | 2.19 |
| Price-to-Free Cash Flow (P/FCF) Ratio | -37.94 | -30.61 | -2.88 | -5.36 | -6.30 |
| Price-to-Operating Cash Flow Ratio | 14.04 | 16.22 | 5.84 | 9.28 | 44.57 |
| Price-to-Earnings Growth (PEG) Ratio | -0.25 | 0.47 | -0.01 | -4.29 | -0.82 |
| Enterprise Value Multiple | 15.62 | 15.48 | 38.35 | 14.94 | 25.21 |
| Enterprise Value | 79.26B | 68.03B | 52.34B | 62.59B | 81.36B |
| EV to EBITDA | 15.62 | 15.48 | 38.35 | 14.94 | 25.21 |
| EV to Sales | 6.93 | 6.59 | 5.26 | 6.71 | 10.41 |
| EV to Free Cash Flow | -65.33 | -66.24 | -12.50 | -12.65 | -9.57 |
| EV to Operating Cash Flow | 24.18 | 35.10 | 25.34 | 21.90 | 67.73 |
| Tangible Book Value Per Share | 14.66 | 11.77 | 8.40 | 10.95 | 10.70 |
| Shareholders’ Equity Per Share | 17.66 | 16.03 | 13.59 | 16.43 | 16.84 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.33 | -0.25 | 0.00 | -0.28 | -0.26 |
| Revenue Per Share | 7.52 | 7.03 | 6.78 | 6.37 | 5.38 |
| Net Income Per Share | 0.62 | 2.33 | -2.92 | -0.86 | -0.82 |
| Tax Burden | 0.66 | -5.57 | 1.00 | 1.28 | 1.26 |
| Interest Burden | 0.95 | -0.53 | 1.90 | -1.10 | -1.67 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| SG&A to Revenue | 0.09 | 0.10 | 0.12 | 0.13 | 0.13 |
| Stock-Based Compensation to Revenue | 0.02 | 0.03 | 0.03 | 0.03 | 0.05 |
| Income Quality | 3.54 | 0.57 | -0.48 | -2.26 | -1.01 |
Currency in CNY