Dashboard containing:

• Monthly and annual share price movements for main listed digital infrastructure stocks
• Key earnings multiples
• Forward earnings multiples vs forward growth estimates
• Share price movements tracked over last twelve months

Commentary

Key developments

Overall, most listed Digital Infrastructure stocks in the region are up over the last year, but with wide spreads in performance among the group. Economic growth is expected to be sluggish relative to previous years, creating uncertain performance for Digital Infrastructure equities.

NEXTDC

NEXTDC’s stock was up over 11% during the past month, with the company releasing strong 1H24 results. Revenue was up 31% compared to 1H23 to $209.1m and EBITDA was up 5% compared to 1H23 to $102.0m. The results were attributed to strong demand and broad adoption of technologies requiring data centre services.

Equinix

Equinix’s stock jumped over 8% over the last month, with the company releasing positive CY23 results. Revenue was up 13% compared to CY22 to $8.19b, and Adjusted EBITDA was up 10% compared to CY22 to $3.70b. The company’s CY24 guidance showed the company experiencing similar revenue and earnings growth throughout the year.

DigitalBridge

DigitalBridge’s stock fell over 11% during the past month, despite releasing positive CY23 results. The company reported revenue of $821.4m, 18% growth between CY23 and CY22, and Adjusted EBITDA of $103.6m, 93% growth between CY23 and CY22.

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