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GDS Holdings Ltd (GDS) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of GDS Holdings Ltd $12.98, price $33.11, upside -60.8%, quality 39 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Technology · US · ISIN US36165L1089

GH GDS Holdings Ltd logo Some data Sep 24, 2026

GDS Holdings Ltd

GDS · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $12.98 · Strongly overvalued (−61%)
!Quality 39/100
!Expensive Growth (revenue 5y +14.8 %/yr)
✓Highly profitable · 23.5% net margin (TTM)
!Moderate debt · negative free cash flow
!Mixed vs. peers (7/14)
!Moderate moat 55/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 17 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$80.98 $5.06 Fair Value $12.98 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $5.06 – $80.98 · fair‑value band $12.98 – $16.23 · the $33.11 price screens above the $12.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

GDS Holdings Limited, together with its subsidiaries, engages in the development and operation of data centers in the People's Republic of China.

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GDS Holdings Limited, together with its subsidiaries, engages in the development and operation of data centers in the People's Republic of China. It provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services. The company serves cloud service providers, large Internet companies, financial institutions, telecommunications carriers and IT service providers, large domestic private sector, and multinational corporations. GDS Holdings Limited was founded in 2001 and is headquartered in Shanghai, the People's Republic of China.

Stock analysis

GDS Holdings Ltd (GDS) currently trades at $33.11, while our model-based Fair Value estimate is $12.98, implying the stock looks roughly 155.1% overvalued today.

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Valuation

Bull case: the Earnings-Based group reads highest at a median of $112.24 per share, and 10 of the 13 models we run sit above the $33.11 price.

Bear case: the Dividend Discount group reads lowest at $4.08, and 3 of the 13 models stay below the price. Evidence for this calculation is medium.

Scenario range: $12.98 (bear) to $16.23 (bull), the price of $33.11 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 39/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

GDS Holdings Ltd reported revenue of 11.4B CNY in FY2025 versus 7.8B CNY in FY2021, a compound +10.0%/yr. Reported net income was 950M CNY in FY2025.

Key figures

Market cap $6.8B · P/E ratio 18.8 · P/S ratio 1.56 · EPS (TTM) $1.71 · Dividend yield 0.8% · Net margin 8.3% · Return on equity 10.0% · Return on assets (EBIT) 0.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).

What moves the price

The share trades about 30% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 66% fair-value upside, at −61%, GDS screens richer than that median.

Fair Value models

Bear $12.98 Fair Value $12.98 Bull $16.23
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($1.25 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income $99.17 $95.70 $81.01 76
Gordon GGM $2.37 $4.73 $7.16 67
DDM Multi-Stage $2.37 $4.08 $4.99 67
All 14 models by family
Earnings-Based
Graham-Dodd $33.13 $231.03 $324.21 63
Lynch FV $78.57 $112.24 $145.92 61
PEG = 1.0 $78.57 $112.24 $145.92 57
Dividend Discount
Gordon GGM $2.37 $4.73 $7.16 67
DDM Multi-Stage $2.37 $4.08 $4.99 67
Multiples
P/E Multiple $76.73 $102.31 $127.88 63
P/S Multiple $62.11 $82.82 $103.52 58
P/B Multiple $62.11 $82.82 $103.52 55
EV/EBIT n/a $25.27 $58.77 61
EV/EBITDA $136.44 $218.17 $299.89 66
EV/Revenue n/a n/a $24.49 50
Asset-Based
NCAV (Graham) $68.89 $92.31 $137.78 54
Economic Profit
Residual Income $99.17 $95.70 $81.01 76
Growth Earnings
Growth-Adj P/E $103.13 $147.33 $191.53 67

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Quality Score breakdown

Overall quality 39/100

Of which business quality 37 · Market factors (momentum, volatility) 32

Profitability 20
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 21
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+10.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Start year 2020 (pandemic). Over 10 years: +32.2% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+33.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
11.7% (2020) → 13.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

GDS screens 155% overvalued. Compare with International Business Machines Corporation →

Recent news

News mood ⓘNews mood, the average tone of recent news (93 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Information Technology Services · 490 stocks

Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −61% · Bottom 25%
Profitability
Return on equity (TTM) 10% · Above median
Return on assets 2% · Below median
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 27% · Top 25%
Growth and dividend
Revenue growth 24% · Top 25%
Dividend yield (TTM) 0.8% · Below median
Balance sheet
Debt / equity 1.32× · Highest 25%

Valuation Multiplesvs Information Technology Services median · lower = cheaper

P/E (TTM) 18.8× · Cheaper than median
P/B 1.70× · Cheaper than median
P/S (TTM) 3.78× · Priciest 25%
EV/EBITDA 12.2× · Pricier than median
PEG 1.05× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 44
FUTURE (revenue growth)100 · sector 31
PAST (return on equity)40 · sector 36
HEALTH (low debt)34 · sector 97
DIVIDEND (yield)17 · sector 43

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $231.38 $188.22 −19%
Accenture plc ACN $183.72 $305.06 +66%
Tata Consultancy Services Limited TCS ₹2,090 ₹2,993 +43%
Infosys Limited INFY ₹1,021 ₹1,690 +66%
HCL Technologies Limited HCLTECH ₹1,257 ₹1,926 +53%
Fidelity National Information Services, Inc FIS $34.96 $32.47 −7%
Cognizant Technology Solutions Corporation CTSH $58.68 $132.01 +125%
Wipro Limited WIPRO ₹164.90 ₹287.90 +75%
Capgemini SE CAP €106.30 €223.90 +111%
CDW Corporation CDW $147.43 $162.00 +10%

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GDS Holdings Ltd · Fair Value
$12.98 −155%Fair Value
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Cite: Fair Value Calculator (2026). "GDS Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/GDS

Frequently asked questions

Is GDS Holdings Ltd (GDS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $12.98 versus a price of $33.11, about −61% upside (overvalued).
What is the fair value of GDS?
Our model-based fair value for GDS Holdings Ltd is $12.98 (as of Sep 24, 2026), built from audited fundamentals. The current price: $33.11.
What is the quality score of GDS?
GDS Holdings Ltd has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for GDS Holdings Ltd (GDS)?
Our model-based price target is the fair value of $12.98 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario $12.98, optimistic scenario $16.23. It is a calculation from audited fundamentals, not an analyst target.
What is the GDS Holdings Ltd stock forecast for 2026?
Our models put fair value at $12.98, about −61% upside versus a price of $33.11 (overvalued). Cautious scenario $12.98, optimistic scenario $16.23. The calculation is refreshed regularly with new filings.
What is the revenue of GDS Holdings Ltd (GDS)?
GDS Holdings Ltd reported trailing-twelve-month revenue of about 12.1B CNY (latest available figure, as of Sep 24, 2026).
Does GDS Holdings Ltd pay a dividend?
GDS Holdings Ltd currently shows a dividend yield of about 0.83% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of GDS Holdings Ltd (GDS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GDS Holdings Ltd it is $12.98 per share (as of Sep 24, 2026), against a price of $33.11. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is GDS Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GDS trades above its calculated fair value: price $33.11, fair value $12.98, a gap of about −61% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GDS?
No. The price is what the market pays today ($33.11); the fair value is what the company's own numbers justify ($12.98). For GDS Holdings Ltd the two are $20.13 per share apart. That gap is exactly why we show both numbers side by side.
How much is GDS Holdings Ltd worth?
The market values GDS Holdings Ltd at about $6.8B (market capitalisation, as of Sep 24, 2026). Per share that is $33.11; our models calculate a fair value of $12.98 per share.
What do the bullish and bearish scenarios say about GDS?
Our models span a range for GDS Holdings Ltd: cautious scenario $12.98, base $12.98, optimistic $16.23 per share (as of Sep 24, 2026, price $33.11). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GDS?
GDS Holdings Ltd trades at a price-to-earnings ratio of 18.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $12.98 is built from several models across several years. Other multiples: PEG 1.0, P/B 1.7, P/S 3.8, EV/EBITDA 12.2.
What is the PEG ratio of GDS?
The PEG ratio of GDS Holdings Ltd is 1.05 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of GDS Holdings Ltd (GDS)?
Balance-sheet figures for GDS Holdings Ltd (as of Sep 24, 2026): return on equity 10.0%, debt of 1.32 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is GDS from its 52-week high?
GDS Holdings Ltd trades at $33.11, about 30% below its 52-week high of $47.52 and 14% above the low of $29.02 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $12.98 is for.
Which stocks are comparable to GDS Holdings Ltd?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is GDS Holdings Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price $33.11, calculated fair value $12.98 (−61%), Quality Score 39/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GDS calculated?
We run GDS Holdings Ltd through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $12.98, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. GDS Holdings Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of GDS Holdings Ltd (GDS)?
The closing price on Sep 23, 2026 was $33.11. Our model-based fair value is $12.98, about −61% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GDS Holdings Ltd right now?
The price sits above even our optimistic bull case ($16.23). The favourable scenario is already priced in. Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of GDS Holdings Ltd

How large is the market capitalisation of GDS Holdings Ltd (GDS)?
The market capitalisation of GDS Holdings Ltd is $6.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of GDS Holdings Ltd (GDS)?
The price-to-sales ratio of GDS Holdings Ltd is 1.56 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GDS Holdings Ltd (GDS)?
Earnings per share at GDS Holdings Ltd are $1.71 (price ÷ EPS = P/E 18.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GDS Holdings Ltd (GDS)?
The dividend yield of GDS Holdings Ltd is 0.8% (payout 16.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of GDS Holdings Ltd (GDS)?
The net margin of GDS Holdings Ltd is 8.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of GDS Holdings Ltd (GDS)?
The return on equity (ROE) of GDS Holdings Ltd is 10.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of GDS Holdings Ltd (GDS)?
On an EBIT basis the return on assets of GDS Holdings Ltd is 0.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of GDS Holdings Ltd (GDS)?
The operating margin of GDS Holdings Ltd is 27.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GDS Holdings Ltd (GDS)?
Revenue at GDS Holdings Ltd is growing +23.6% versus a year earlier (3y avg +7.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at GDS Holdings Ltd (GDS)?
Earnings per share at GDS Holdings Ltd are growing +207% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does GDS Holdings Ltd (GDS) generate?
The free cash flow of GDS Holdings Ltd is −1.2B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does GDS Holdings Ltd (GDS) carry?
The net debt of GDS Holdings Ltd is 33.2B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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