GDS Holdings Ltd
HKEX:9698

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GDS Holdings Ltd
HKEX:9698
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Price: 42.72 HKD -0.37% Market Closed
Market Cap: HK$66.4B

EV/EBIT

57.6
Current
2%
More Expensive
vs 3-y average of 56.8

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
57.6
=
Enterprise Value
HK$100B
/
EBIT
¥1.5B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
57.6
=
Enterprise Value
HK$100B
/
EBIT
¥1.5B

Valuation Scenarios

GDS Holdings Ltd is trading above its 3-year average

If EV/EBIT returns to its 3-Year Average (56.8), the stock would be worth HK$42.06 (2% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-50%
Maximum Upside
+23%
Average Downside
8%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 57.6 HK$42.72
0%
3-Year Average 56.8 HK$42.06
-2%
5-Year Average 71 HK$52.59
+23%
Industry Average 54.5 HK$40.4
-5%
Country Average 28.9 HK$21.42
-50%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
HK$100B
/
Jan 2026
¥1.5B
=
57.6
Current
HK$100B
/
Dec 2026
¥1.7B
=
59.8
Forward
HK$100B
/
Dec 2027
¥2.2B
=
45.1
Forward
HK$100B
/
Dec 2028
¥3.4B
=
29.5
Forward
HK$100B
/
Dec 2029
¥3.6B
=
27.8
Forward
HK$100B
/
Dec 2030
¥3.1B
=
32.5
Forward
HK$100B
/
Dec 2031
¥6B
=
16.7
Forward
HK$100B
/
Dec 2032
¥10.7B
=
9.4
Forward
HK$100B
/
Dec 2033
¥12.9B
=
7.7
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
CN
GDS Holdings Ltd
HKEX:9698
66.4B HKD 57.6 65.4
CA
Shopify Inc
NASDAQ:SHOP
164.1B USD 108.5 135
US
Cloudflare Inc
NYSE:NET
72.9B USD -351.8 -712.5
US
Snowflake Inc.
NYSE:SNOW
48.3B USD -35.4 -36.2
US
Snowflake Inc
XETRA:5Q5
40.6B EUR -33.9 -35.1
ID
DCI Indonesia Tbk PT
IDX:DCII
474.5T IDR 376.8 473.9
US
Verisign Inc
NASDAQ:VRSN
24.7B USD 23.1 30
US
Twilio Inc
NYSE:TWLO
21.9B USD 116.8 647
US
MongoDB Inc
NASDAQ:MDB
20.4B USD -131.8 -286.9
US
Akamai Technologies Inc
NASDAQ:AKAM
13.8B USD 27.2 30.7
US
Okta Inc
NASDAQ:OKTA
13.5B USD 71.4 57.3
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CN
GDS Holdings Ltd
HKEX:9698
Average EV/EBIT: 111.6
57.6
31%
1.9
CA
Shopify Inc
NASDAQ:SHOP
108.5
51%
2.1
US
Cloudflare Inc
NYSE:NET
Negative Multiple: -351.8 N/A N/A
US
Snowflake Inc.
NYSE:SNOW
Negative Multiple: -35.4 N/A N/A
US
Snowflake Inc
XETRA:5Q5
Negative Multiple: -33.9 N/A N/A
ID
DCI Indonesia Tbk PT
IDX:DCII
376.8
N/A N/A
US
Verisign Inc
NASDAQ:VRSN
23.1
7%
3.3
US
Twilio Inc
NYSE:TWLO
116.8
100%
1.2
US
MongoDB Inc
NASDAQ:MDB
Negative Multiple: -131.8 N/A N/A
US
Akamai Technologies Inc
NASDAQ:AKAM
27.2
32%
0.9
US
Okta Inc
NASDAQ:OKTA
71.4
91%
0.8
P/E Multiple
Earnings Growth PEG
CN
GDS Holdings Ltd
HKEX:9698
Average P/E: 205.6
65.4
-6%
N/A
CA
Shopify Inc
NASDAQ:SHOP
135
53%
2.5
US
Cloudflare Inc
NYSE:NET
Negative Multiple: -712.5 N/A N/A
US
Snowflake Inc.
NYSE:SNOW
Negative Multiple: -36.2 N/A N/A
US
Snowflake Inc
XETRA:5Q5
Negative Multiple: -35.1 N/A N/A
ID
DCI Indonesia Tbk PT
IDX:DCII
473.9
N/A N/A
US
Verisign Inc
NASDAQ:VRSN
30
9%
3.3
US
Twilio Inc
NYSE:TWLO
647
222%
2.9
US
MongoDB Inc
NASDAQ:MDB
Negative Multiple: -286.9 N/A N/A
US
Akamai Technologies Inc
NASDAQ:AKAM
30.7
42%
0.7
US
Okta Inc
NASDAQ:OKTA
57.3
54%
1.1

Market Distribution

Higher than 72% of companies in China
Percentile
72st
Based on 5 337 companies
72st percentile
57.6
Low
0 — 16.6
Typical Range
16.6 — 52.9
High
52.9 —
Distribution Statistics
China
Min 0
30th Percentile 16.6
Median 28.9
70th Percentile 52.9
Max 49 021

GDS Holdings Ltd
Glance View

In the bustling world of digital infrastructure, GDS Holdings Ltd. has carved a name for itself as a pivotal player in China’s burgeoning data center industry. Since its inception, GDS has primarily focused on designing, building, and operating high-performance data centers. These facilities act as the backbone of the digital age, providing essential infrastructure for cloud service providers, internet companies, financial institutions, and other large-scale enterprises. The company's strategic positioning in key economic hubs across China ensures that it is at the heart of its clients’ operations, allowing it to offer colocation, managed hosting, and other value-added services. GDS Holdings generates revenue through leasing data center space to its customers, often via long-term contracts that provide stable cash flow. Clients value the company's robust infrastructure capabilities, which include cutting-edge technology and sustainable practices designed to handle massive computing demands. Additionally, GDS innovatively expands its capacity by pursuing acquired growth and developing new facilities, often pre-leased to anchor clients, which mitigates financial risk. Through this method, GDS has built a resilient business model, able to capitalize on the rapid digital transformation trends while ensuring its services remain indispensable to an ever-growing client base.

Intrinsic Value
25.3 HKD
Overvaluation 41%
Intrinsic Value
Price HK$42.72
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