$190.65
-13.2% vs S&P 12m
Business overview
Hyperscale-focused REIT with global footprint; Blackstone JV in 2024 added capacity but signaled secondary capital appetite.
Largest pure-play data center REIT exposure with hyperscale leasing momentum; debt and capex levels are the key watch items.
Products
- Hyperscale colocation
- Cloud onramps
Customers (2)
- Hyperscalers
- Large enterprises
Competitors (3)
- Equinix
- QTS
- Aligned
Composite score
Higher = stronger overall research case
Fundamental67
Technical69
Valuation77
AI relevance65
Risk-adjusted (higher = safer)49
Segment-relative fundamental percentile: 100
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: -0.5%6M RS: 9.5%12M RS: -13.2%Vol30d: 22%DD52w: -6.5%
Financial summary
Curated, illustrative
Revenue
$6.31B
Growth (YoY)
16.7%
Gross margin
55.3%
Operating margin
17.2%
FCF
$3.26B
Capex
$0.00
Net cash / (debt)
$-16.99B
ROIC
1.3%
Customer conc.
Medium
Valuation
Market cap
$68.20B
Enterprise value
$85.18B
P/E (TTM)
50.6x
Forward P/E
61.3x
EV / Sales
13.5x
EV / EBITDA
29.5x
P / FCF
20.9x
PEG
12.6x
Rule of 40
—
Risks
Severity 1 (low) to 5 (severe)
- 4High leverage
- 3AFFO/share dilution
Score components
What drove the composite
Growth63
Profitability58
Cash generation99
Balance sheet21
Moat / AI relevance75
Capital intensity (higher = lighter)83
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)56
Relative strength42
Realized vol (higher = lower vol)76
Segment peers
Other companies in Data centers