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Side-by-side financial comparison of Digital Realty (DLR) and Frontier Group Holdings, Inc. (ULCC). Click either name above to swap in a different company.
Digital Realty is the larger business by last-quarter revenue ($1.6B vs $997.0M, roughly 1.6× Frontier Group Holdings, Inc.). Digital Realty runs the higher net margin — 6.0% vs 5.3%, a 0.7% gap on every dollar of revenue. On growth, Digital Realty posted the faster year-over-year revenue change (16.1% vs -0.5%). Over the past eight quarters, Digital Realty's revenue compounded faster (9.8% CAGR vs 7.4%).
Digital Realty is a real estate investment trust that owns, operates and invests in carrier-neutral data centers across the world. The company offers data center, colocation, and interconnection services.
Frontier Communications Parent, Inc. is an American telecommunications company with a fiber-optic network and cloud-based services owned by Verizon. It was previously known as Citizens Utilities Co., Citizens Communications Co., and Frontier Communications Corp.
DLR vs ULCC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $997.0M |
| Net Profit | $98.6M | $53.0M |
| Gross Margin | — | — |
| Operating Margin | 6.9% | 4.9% |
| Net Margin | 6.0% | 5.3% |
| Revenue YoY | 16.1% | -0.5% |
| Net Profit YoY | -10.3% | -1.9% |
| EPS (diluted) | $0.22 | $0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $997.0M | ||
| Q3 25 | $1.6B | $886.0M | ||
| Q2 25 | $1.5B | $929.0M | ||
| Q1 25 | $1.4B | $912.0M | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.4B | $935.0M | ||
| Q2 24 | $1.4B | $973.0M |
| Q1 26 | $98.6M | — | ||
| Q4 25 | $98.6M | $53.0M | ||
| Q3 25 | $67.8M | $-77.0M | ||
| Q2 25 | $1.0B | $-70.0M | ||
| Q1 25 | $110.0M | $-43.0M | ||
| Q4 24 | $189.6M | $54.0M | ||
| Q3 24 | $51.2M | $26.0M | ||
| Q2 24 | $80.2M | $31.0M |
| Q1 26 | 6.9% | — | ||
| Q4 25 | 6.9% | 4.9% | ||
| Q3 25 | 8.8% | -8.7% | ||
| Q2 25 | 14.2% | -8.1% | ||
| Q1 25 | 13.9% | -5.0% | ||
| Q4 24 | 10.1% | 4.5% | ||
| Q3 24 | 11.8% | 2.0% | ||
| Q2 24 | 0.7% | 2.6% |
| Q1 26 | 6.0% | — | ||
| Q4 25 | 6.0% | 5.3% | ||
| Q3 25 | 4.3% | -8.7% | ||
| Q2 25 | 69.1% | -7.5% | ||
| Q1 25 | 7.8% | -4.7% | ||
| Q4 24 | 13.2% | 5.4% | ||
| Q3 24 | 3.6% | 2.8% | ||
| Q2 24 | 5.9% | 3.2% |
| Q1 26 | $0.22 | — | ||
| Q4 25 | $0.22 | $0.24 | ||
| Q3 25 | $0.15 | $-0.34 | ||
| Q2 25 | $2.94 | $-0.31 | ||
| Q1 25 | $0.27 | $-0.19 | ||
| Q4 24 | $0.50 | $0.24 | ||
| Q3 24 | $0.09 | $0.11 | ||
| Q2 24 | $0.20 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5B | $671.0M |
| Total DebtLower is stronger | — | $620.0M |
| Stockholders' EquityBook value | $22.9B | $491.0M |
| Total Assets | $49.4B | $7.2B |
| Debt / EquityLower = less leverage | — | 1.26× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $671.0M | ||
| Q3 25 | $3.3B | $566.0M | ||
| Q2 25 | $3.6B | $563.0M | ||
| Q1 25 | $2.3B | $686.0M | ||
| Q4 24 | $3.9B | $740.0M | ||
| Q3 24 | $2.2B | $576.0M | ||
| Q2 24 | $2.3B | $658.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $620.0M | ||
| Q3 25 | — | $673.0M | ||
| Q2 25 | — | $565.0M | ||
| Q1 25 | — | $512.0M | ||
| Q4 24 | — | $507.0M | ||
| Q3 24 | — | $474.0M | ||
| Q2 24 | — | $455.0M |
| Q1 26 | $22.9B | — | ||
| Q4 25 | $22.9B | $491.0M | ||
| Q3 25 | $23.0B | $434.0M | ||
| Q2 25 | $22.9B | $506.0M | ||
| Q1 25 | $21.3B | $570.0M | ||
| Q4 24 | $21.3B | $604.0M | ||
| Q3 24 | $21.2B | $549.0M | ||
| Q2 24 | $20.5B | $520.0M |
| Q1 26 | $49.4B | — | ||
| Q4 25 | $49.4B | $7.2B | ||
| Q3 25 | $48.7B | $6.7B | ||
| Q2 25 | $48.7B | $6.5B | ||
| Q1 25 | $45.1B | $6.5B | ||
| Q4 24 | $45.3B | $6.2B | ||
| Q3 24 | $45.3B | $5.8B | ||
| Q2 24 | $43.6B | $5.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.26× | ||
| Q3 25 | — | 1.55× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.88× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-91.0M |
| Free Cash FlowOCF − Capex | — | $-113.0M |
| FCF MarginFCF / Revenue | — | -11.3% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | -1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-600.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $719.0M | $-91.0M | ||
| Q3 25 | $652.9M | $-215.0M | ||
| Q2 25 | $641.2M | $-133.0M | ||
| Q1 25 | $399.1M | $-86.0M | ||
| Q4 24 | $769.5M | $87.0M | ||
| Q3 24 | $566.5M | $-156.0M | ||
| Q2 24 | $573.2M | $9.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-113.0M | ||
| Q3 25 | — | $-217.0M | ||
| Q2 25 | — | $-166.0M | ||
| Q1 25 | — | $-104.0M | ||
| Q4 24 | — | $73.0M | ||
| Q3 24 | — | $-170.0M | ||
| Q2 24 | — | $-22.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -11.3% | ||
| Q3 25 | — | -24.5% | ||
| Q2 25 | — | -17.9% | ||
| Q1 25 | — | -11.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | -18.2% | ||
| Q2 24 | — | -2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 7.29× | -1.72× | ||
| Q3 25 | 9.63× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 3.63× | — | ||
| Q4 24 | 4.06× | 1.61× | ||
| Q3 24 | 11.07× | -6.00× | ||
| Q2 24 | 7.15× | 0.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLR
Segment breakdown not available.
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
