GDS Holdings annual net debt
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
GDS Holdings Net Debt Growth & History (GDS)
GDS Holdings's net debt was ¥13.32B for fiscal 2025.
View full GDS Holdings company overviewGDS Holdings annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | ¥13.32B | −¥6.45B | −32.64% |
| 2024 | 2024-12-31 | ¥19.78B | ¥126.9M | +0.65% |
| 2023 | 2023-12-31 | ¥19.65B | −¥1.07B | −5.17% |
| 2022 | 2022-12-31 | ¥20.72B | ¥6.49B | +45.57% |
| 2021 | 2021-12-31 | ¥14.24B | ¥9.80B | +220.87% |
| 2020 | 2020-12-31 | ¥4.44B | −¥4.19B | −48.54% |
| 2019 | 2019-12-31 | ¥8.62B | ¥1.13B | +15.02% |
| 2018 | 2018-12-31 | ¥7.50B | ¥2.82B | +60.17% |
| 2017 | 2017-12-31 | ¥4.68B | ¥3.24B | +225.35% |
| 2016 | 2016-12-31 | ¥1.44B | ¥502.7M | +53.73% |
| 2015 | 2015-12-31 | ¥935.7M | — | — |
GDS Holdings quarterly net debt
Q4.15
Q4.16
Q3.17
Q4.17
Q4.18
Q3.19
Q4.19
Q2.20
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | ¥32.45B | −¥2.23B | −6.42% |
| Q1 2026 | 2026-03-31 | ¥32.36B | −¥3.94B | −10.86% |
| Q4 2025 | 2025-12-31 | ¥13.32B | −¥6.45B | −32.64% |
| Q3 2025 | 2025-09-30 | ¥33.52B | — | — |
| Q2 2025 | 2025-06-30 | ¥34.68B | — | — |
| Q1 2025 | 2025-03-31 | ¥36.31B | — | — |
| Q4 2024 | 2024-12-31 | ¥19.78B | ¥126.9M | +0.65% |
| Q4 2023 | 2023-12-31 | ¥19.65B | −¥1.07B | −5.17% |
| Q4 2022 | 2022-12-31 | ¥20.72B | ¥6.49B | +45.57% |
| Q4 2021 | 2021-12-31 | ¥14.24B | ¥9.80B | +220.87% |
| Q4 2020 | 2020-12-31 | ¥4.44B | −¥4.19B | −48.54% |
| Q2 2020 | 2020-06-30 | ¥10.17B | — | — |
| Q4 2019 | 2019-12-31 | ¥8.62B | ¥1.13B | +15.02% |
| Q3 2019 | 2019-09-30 | ¥7.45B | — | — |
| Q4 2018 | 2018-12-31 | ¥7.50B | ¥2.82B | +60.17% |
| Q4 2017 | 2017-12-31 | ¥4.68B | ¥3.24B | +225.35% |
| Q3 2017 | 2017-09-30 | ¥3.73B | — | — |
| Q4 2016 | 2016-12-31 | ¥1.44B | ¥502.7M | +53.73% |
| Q4 2015 | 2015-12-31 | ¥935.7M | — | — |
GDS Holdings net debt trends
Over the last five fiscal years, GDS Holdings's net debt increased from ¥4.44B to ¥13.32B, a change of ¥8.89B. The latest reported quarter, Q2 2026, shows ¥32.45B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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