Digital Realty vs Host Hotels & Resorts
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The short version
- Host Hotels & Resorts is the larger business, with $6.1B of revenue in fiscal 2025 against $6.1B for Digital Realty.
- Digital Realty grew revenue faster (10.0%, against 7.6%).
- Host Hotels & Resorts kept more of each dollar of sales as operating profit (14.0% operating margin, against 10.8%).
- Investors pay more for each dollar of Digital Realty’s earnings: a P/E of 45.6x against 16.6x for Host Hotels & Resorts.
| Latest fiscal year | DLR · FY25 | HST · FY25 |
|---|---|---|
| Size | ||
| Market cap | $60.9B | $17.0B |
| Revenue | $6.1B | $6.1B |
| Free cash flow | −$769M | — |
| Net income | $1.3B | $765M |
| Growth | ||
| Revenue growth | 10.0% | 7.6% |
| 5-year growth | 9.4% | 30.4% |
| Share count change | 4.9% | −1.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 10.8% | 14.0% |
| Net margin | 21.4% | 12.5% |
| FCF margin | −12.6% | — |
| Return on capital | — | 7.4% |
| Return on equity | 5.9% | 11.6% |
| Balance sheet | ||
| Net debt | — | $4.3B |
| Net debt / EBITDA | — | 2.6x |
| Dividends and buybacks | $1.7B | $828M |
| Valuation & quality | ||
| P/E | 45.6x | 16.6x |
| Piotroski F-score | — | — |
Revenue
FY16
DLR $2.1B
HST $5.4B
FY17
DLR $2.5B
HST $5.4B
FY18
DLR $3.0B
HST $5.5B
FY19
DLR $3.2B
HST $5.5B
FY20
DLR $3.9B
HST $1.6B
FY21
DLR $4.4B
HST $2.9B
FY22
DLR $4.7B
HST $4.9B
FY23
DLR $5.5B
HST $5.3B
FY24
DLR $5.6B
HST $5.7B
FY25
DLR $6.1B
HST $6.1B
DLR
HST
Operating margin
FY16
DLR 23.2%
HST 12.6%
FY17
DLR 18.4%
HST 12.6%
FY18
DLR 18.1%
HST 9.6%
FY19
DLR 18.5%
HST 14.6%
FY20
DLR 14.3%
HST −58.8%
FY21
DLR 15.7%
HST −8.7%
FY22
DLR 12.6%
HST 15.8%
FY23
DLR 9.6%
HST 15.6%
FY24
DLR 8.5%
HST 15.4%
FY25
DLR 10.8%
HST 14.0%
DLR
HST
Free cash flow
FY16
DLR $153M
HST —
FY17
DLR −$127M
HST —
FY18
DLR $60.2M
HST —
FY19
DLR $76.9M
HST —
FY20
DLR −$358M
HST —
FY21
DLR −$819M
HST —
FY22
DLR −$984M
HST —
FY23
DLR −$1.9B
HST —
FY24
DLR −$570M
HST —
FY25
DLR −$769M
HST —
DLR
HST
Return on capital
FY16
DLR —
HST 6.2%
FY17
DLR —
HST 5.8%
FY18
DLR —
HST 4.7%
FY19
DLR —
HST 8.0%
FY20
DLR —
HST −7.9%
FY21
DLR —
HST −2.0%
FY22
DLR —
HST 7.2%
FY23
DLR —
HST 7.9%
FY24
DLR —
HST 8.2%
FY25
DLR —
HST 7.4%
DLR
HST
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.