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GDS Holdings NasdaqGM:GDS Stock Report

Last Price


Market Cap







24 Jun, 2022


Company Financials +
GDS fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance0/6
Financial Health3/6

GDS Stock Overview

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China.

GDS Holdings Competitors













Price History & Performance

Summary of all time highs, changes and price drops for GDS Holdings
Historical stock prices
Current Share PriceUS$34.74
52 Week HighUS$81.69
52 Week LowUS$19.83
1 Month Change37.48%
3 Month Change-8.58%
1 Year Change-56.52%
3 Year Change-7.53%
5 Year Change274.76%
Change since IPO233.72%

Recent News & Updates

Shareholder Returns


Return vs Industry: GDS underperformed the US IT industry which returned -34.7% over the past year.

Return vs Market: GDS underperformed the US Market which returned -20.5% over the past year.

Price Volatility

Is GDS's price volatile compared to industry and market?
GDS volatility
GDS Average Weekly Movement14.9%
IT Industry Average Movement9.9%
Market Average Movement8.0%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.1%

Stable Share Price: GDS is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 15% a week.

Volatility Over Time: GDS's weekly volatility (15%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

20011,878William Huang

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services. It serves cloud service providers, large Internet companies, financial institutions, telecommunications and IT service providers, and large domestic private sector and multinational corporations.

GDS Holdings Fundamentals Summary

How do GDS Holdings's earnings and revenue compare to its market cap?
GDS fundamental statistics
Market CapCN¥44.28b
Earnings (TTM)-CN¥1.59b
Revenue (TTM)CN¥8.36b


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GDS income statement (TTM)
Cost of RevenueCN¥6.49b
Gross ProfitCN¥1.87b
Other ExpensesCN¥3.46b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)-8.33
Gross Margin22.37%
Net Profit Margin-19.00%
Debt/Equity Ratio126.6%

How did GDS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is GDS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GDS?

Other financial metrics that can be useful for relative valuation.

GDS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue9.4x
Enterprise Value/EBITDA23.2x
PEG Ration/a

Price to Sales Ratio vs Peers

How does GDS's PS Ratio compare to its peers?

GDS PS Ratio vs Peers
The above table shows the PS ratio for GDS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average8.1x

Price-To-Sales vs Peers: GDS is good value based on its Price-To-Sales Ratio (5.3x) compared to the peer average (8.1x).

Price to Earnings Ratio vs Industry

How does GDS's PE Ratio compare vs other companies in the U.S. IT Industry?

Price-To-Sales vs Industry: GDS is expensive based on its Price-To-Sales Ratio (5.3x) compared to the US IT industry average (2.4x)

Price to Sales Ratio vs Fair Ratio

What is GDS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GDS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.3x
Fair PS Ratio3.8x

Price-To-Sales vs Fair Ratio: GDS is expensive based on its Price-To-Sales Ratio (5.3x) compared to the estimated Fair Price-To-Sales Ratio (3.8x).

Share Price vs Fair Value

What is the Fair Price of GDS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GDS ($34.74) is trading above our estimate of fair value ($4.62)

Significantly Below Fair Value: GDS is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GDS's PEG Ratio to determine if it is good value.

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Future Growth

How is GDS Holdings forecast to perform in the next 1 to 3 years based on estimates from 23 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GDS is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: GDS is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: GDS is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: GDS's revenue (19.8% per year) is forecast to grow faster than the US market (8.3% per year).

High Growth Revenue: GDS's revenue (19.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GDS is forecast to be unprofitable in 3 years.

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Past Performance

How has GDS Holdings performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GDS is currently unprofitable.

Growing Profit Margin: GDS is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: GDS is unprofitable, and losses have increased over the past 5 years at a rate of 32.6% per year.

Accelerating Growth: Unable to compare GDS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GDS is unprofitable, making it difficult to compare its past year earnings growth to the IT industry (21.4%).

Return on Equity

High ROE: GDS has a negative Return on Equity (-5.14%), as it is currently unprofitable.

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Financial Health

How is GDS Holdings's financial position?

Financial Health Score


Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: GDS's short term assets (CN¥14.5B) exceed its short term liabilities (CN¥13.2B).

Long Term Liabilities: GDS's short term assets (CN¥14.5B) do not cover its long term liabilities (CN¥37.4B).

Debt to Equity History and Analysis

Debt Level: GDS's net debt to equity ratio (81.3%) is considered high.

Reducing Debt: GDS's debt to equity ratio has increased from 113.1% to 126.6% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: GDS has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: GDS has sufficient cash runway for 1.5 years if free cash flow continues to reduce at historical rates of 33.5% each year.

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What is GDS Holdings's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate GDS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GDS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GDS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GDS's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GDS has not reported any payouts.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


William Huang (54 yo)



Mr. William Wei Huang has been the Chief Executive Officer of GDS Holdings Limited since 2004 and has been its Chairman since 2002. He is Founder of GDS Holdings Limited. Mr. Huang is the Founder of GDS Ho...

Leadership Team

Experienced Management: GDS's management team is seasoned and experienced (10.8 years average tenure).

Board Members

Experienced Board: GDS's board of directors are considered experienced (8.4 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

GDS Holdings Limited's employee growth, exchange listings and data sources

Key Information

  • Name: GDS Holdings Limited
  • Ticker: GDS
  • Exchange: NasdaqGM
  • Founded: 2001
  • Industry: Internet Services and Infrastructure
  • Sector: Software
  • Implied Market Cap: US$6.620b
  • Shares outstanding: 190.55m
  • Website:

Number of Employees


  • GDS Holdings Limited
  • Building C, Sunland International
  • 4th and 5th Floor
  • Shanghai
  • 200137
  • China


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/24 00:00
End of Day Share Price2022/06/24 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.