Digital Realty
DLR · Data Center REITs
$172.37
0.8%Ventas
VTR · Health Care REITs
$86.80
0.2%The short version
- Digital Realty is the larger business, with $6.1B of revenue in fiscal 2025 against $5.8B for Ventas.
- Ventas grew revenue faster (18.5%, against 10.0%).
- Investors pay more for each dollar of Ventas’s earnings: a P/E of 163.8x against 45.6x for Digital Realty.
| Latest fiscal year | DLR · FY25 | VTR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $60.9B | $43.2B |
| Revenue | $6.1B | $5.8B |
| Free cash flow | −$769M | — |
| Net income | $1.3B | $262M |
| Growth | ||
| Revenue growth | 10.0% | 18.5% |
| 5-year growth | 9.4% | 9.0% |
| Share count change | 4.9% | 11.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 10.8% | — |
| Net margin | 21.4% | 4.5% |
| FCF margin | −12.6% | — |
| Return on capital | — | 3.4% |
| Return on equity | 5.9% | 2.2% |
| Balance sheet | ||
| Net debt | — | $12.3B |
| Net debt / EBITDA | — | 5.6x |
| Dividends and buybacks | $1.7B | $860M |
| Valuation & quality | ||
| P/E | 45.6x | 163.8x |
| Piotroski F-score | — | — |
FY16
DLR $2.1B
VTR $3.4B
FY17
DLR $2.5B
VTR $3.6B
FY18
DLR $3.0B
VTR $3.7B
FY19
DLR $3.2B
VTR $3.9B
FY20
DLR $3.9B
VTR $3.8B
FY21
DLR $4.4B
VTR $3.8B
FY22
DLR $4.7B
VTR $4.1B
FY23
DLR $5.5B
VTR $4.5B
FY24
DLR $5.6B
VTR $4.9B
FY25
DLR $6.1B
VTR $5.8B
DLR
VTR
FY16
DLR 23.2%
VTR —
FY17
DLR 18.4%
VTR —
FY18
DLR 18.1%
VTR —
FY19
DLR 18.5%
VTR —
FY20
DLR 14.3%
VTR —
FY21
DLR 15.7%
VTR —
FY22
DLR 12.6%
VTR —
FY23
DLR 9.6%
VTR —
FY24
DLR 8.5%
VTR —
FY25
DLR 10.8%
VTR —
DLR
VTR
FY16
DLR $153M
VTR —
FY17
DLR −$127M
VTR —
FY18
DLR $60.2M
VTR —
FY19
DLR $76.9M
VTR —
FY20
DLR −$358M
VTR —
FY21
DLR −$819M
VTR —
FY22
DLR −$984M
VTR —
FY23
DLR −$1.9B
VTR —
FY24
DLR −$570M
VTR —
FY25
DLR −$769M
VTR —
DLR
VTR
FY16
DLR —
VTR 4.5%
FY17
DLR —
VTR 4.8%
FY18
DLR —
VTR 3.8%
FY19
DLR —
VTR 3.7%
FY20
DLR —
VTR 2.5%
FY21
DLR —
VTR 1.0%
FY22
DLR —
VTR 1.3%
FY23
DLR —
VTR 1.6%
FY24
DLR —
VTR 2.0%
FY25
DLR —
VTR 3.4%
DLR
VTR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.