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Screener / SEC EDGAR /CIK 0001297996 /10-K filed Feb 13, 2026, compared with Feb 25, 2025 /Numbers from the XBRL of the 10-Ks
Real estate peers:
VTRODLRWYSPGHST
NYSE Real estate · REIT

Digital Realty DLR

DLR quote by TradingView
Employees
4,282
Headquarters
Austin, TX
Next results
around Feb 4, 2027
Compare with peers Embed

DLR among Real estate peers

Six ratios from the latest 10-K. Each corner is the share of 28 peers the company is above, not a score.

Compare
Revenue growth: 10.0%, above 82% of 28 peers (their median 5.1%) REVENUE GROWTH 10.0% · above 82% Operating margin: 11.5%, above 12% of 17 peers (their median 43.8%) OPERATING MARGIN 11.5% · above 12% Net margin: 21.7%, above 50% of 28 peers (their median 21.7%) NET MARGIN 21.7% · above 50% Return on capital: 2.8%, above 10% of 10 peers (their median 6.2%) RETURN ON CAPITAL 2.8% · above 10%
DLR Peer median Below the median

What changed

10 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 13, 2026 against Feb 25, 2025.

Risk factors
10 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +27.9% vs revenue +10.0% (+17.8 pts)
10-K · XBRL
Critical audit matters changed
New this year: Evaluation of lease revenue (“As discussed in note 2 to the consolidated financial statements, the Company records rental revenue, which includes revenue related to leases that generally provide for 1 megawatt or more of power and have lease terms of 5-10+ years, on a straight-line basis if the Company determines on a lease-by-l”). No longer listed: Evaluation of Scale and Hyperscale lease revenue
10-K · XBRL
Accounting checks
8 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
3 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 8 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +27.9% vs revenue +10.0% (+17.8 pts)
  • Critical audit matters changed
    New this year: Evaluation of lease revenue (“As discussed in note 2 to the consolidated financial statements, the Company records rental revenue, which includes revenue related to leases that generally provide for 1 megawatt or more of power and have lease terms of 5-10+ years, on a straight-line basis if the Company determines on a lease-by-l”). No longer listed: Evaluation of Scale and Hyperscale lease revenue
  • Cash from operations $2.4B vs net income $1.3B (FY ending Dec 31, 2025)
7 more checks with nothing to note
  • Same auditor in both 10-Ks: KPMG LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

10 paragraphs in Risk Factors that were not in the 10-K filed Feb 25, 2025. Quoted as filed.

All 10 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    As artificial intelligence becomes more prevalent in the workplace, it may present new considerations that could affect our business and operating results.
  2. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    Volatility in market and economic conditions may impact the accuracy of the various estimates used in the preparation of our financial statements and footnotes to the financial statements.
  3. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    Increases in the cost of power at any of our data centers could put those locations at a competitive disadvantage relative to data centers that are supplied power at a lower price.
  4. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    We rely on numerous electrical, heating and cooling, fire protection, energy storage and battery backup, uninterruptible power systems, and emergency power generation systems and equipment to operate our facilities. The systems and equipment are required to handle high performance demands, including extreme heat and cold, high voltage,…

New risk paragraphs, against peers

Latest 10-K of each, Real estate companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$4.7B$5.5B$5.6B$6.1B
Net income$377.7M$948.8M$602.5M$1.3B
Operating cash flow$1.7B$1.6B$2.3B$2.4B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$6.1B ▲ 10.0% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

3 filings in the last 30 days · SEC EDGAR

All filings

About the company

Digital Realty, Austin, TX · from the 10-K filed Feb 13, 2026

Digital Realty Trust, Inc., through its controlling interest in Digital Realty Trust, L.P. and the subsidiaries of the Operating Partnership, is a leading global provider of data center, colocation and interconnection solutions for customers across a variety of industry verticals. The Parent operates as a REIT for U.S. federal income tax purposes. The Operating Partnership is the entity through which the Parent conducts its business of owning, acquiring, developing and operating data centers. The Parent was incorporated in the state of Maryland on March 9, 2004. The Operating Partnership was organized as a limited partnership in the state of Maryland on July 21, 2004.

Headquarters
Austin, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 29, 2026
Incorporated in
MD

Employees, at the top of the page: "As of December 31, 2025, we had 4,282 full-time employees" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 13, 2026 (open at SEC), compared with the 10-K filed Feb 25, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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