Company Valuation: GDS Global Limited

Data adjusted to current consolidation scope
Fiscal Period: September 2020 2021 2022 2023 2024 2025
Market Cap 1 9.296 7.504 3.92 6.16 10.98 14.15
Change - -19.28% -47.76% 57.14% 78.19% 28.92%
Enterprise Value (EV) 1 10.51 8.257 5.019 7.325 12.5 15.15
Change - -21.47% -39.21% 45.94% 70.67% 21.19%
P/E -6.33x -3.93x -1.84x -2.63x -2.53x -105x
PBR 0.65x 0.61x 0.39x 0.79x 1.44x 1.95x
PEG - -0.1x -0.2x -0.3x 0.35x 1.1x
Capitalization / Revenue 0.65x 0.58x 0.29x 0.5x 0.82x 0.62x
EV / Revenue 0.74x 0.64x 0.37x 0.6x 0.94x 0.66x
EV / EBITDA -18.6x -10x -6.29x -5.41x -12.2x 18.1x
EV / EBIT -7.74x -5.72x -3.62x -3.77x -7.51x 49.5x
EV / FCF 3.87x 6.09x 7.44x 5.68x -24.3x 22.7x
FCF Yield 25.8% 16.4% 13.4% 17.6% -4.11% 4.41%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.0131 -0.0171 -0.019 -0.0209 -0.0194 -0.0006
Distribution rate - - - - - -
Net sales 1 14.28 12.99 13.66 12.2 13.36 22.79
EBITDA 1 -0.564 -0.826 -0.798 -1.354 -1.022 0.838
EBIT 1 -1.359 -1.444 -1.385 -1.944 -1.665 0.306
Net income 1 -1.468 -1.911 -2.127 -2.341 -2.532 -0.129
Net Debt 1 1.218 0.753 1.099 1.165 1.525 1
Reference price 2 0.0830 0.0670 0.0350 0.0550 0.0490 0.0630
Nbr of stocks (in thousands) 112,000 112,000 112,000 112,000 224,000 224,611
Announcement Date 12/29/20 1/3/22 12/21/22 1/3/24 1/3/25 12/31/25
1SGD in Million2SGD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 19.88M
20.44x1.5x14.36x1.6% 43.89B
23.52x2.95x14.44x1.86% 41.34B
11.42x0.91x5.91x3.51% 36.66B
29x5.81x19.7x2.38% 22.13B
20.75x1.78x12.91x0.7% 17.97B
17.02x2.3x11.47x1.68% 14.93B
18.58x3.05x12.59x1.34% 13.67B
-16.55x1.36x15.98x3.47% 10.9B
20.99x3.3x10.9x0.61% 9.83B
Average 16.13x 2.55x 13.14x 1.91% 21.13B
Weighted average by Cap. 18.16x 2.39x 12.95x 2.03%

Y-o-Y evolution of P/E

Valuation ratios - P/E - GDS Global Limited

Historical PBR trend

Valuation ratios - PBR - GDS Global Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - GDS Global Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - GDS Global Limited

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