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GDS · NASDAQ

GDS Holdings Ltd

Doubtful

Based on its latest SEC filing, measured against total assets, GDS Holdings Ltd is doubtful. Its latest filing puts at least one ratio within 10% of its limit.

TickerGDS
ExchangeNASDAQ
SectorServices-Computer Programming, Data Processing, Etc.
DoubtfulGDS Holdings LtdGDS · NASDAQ
PassBusiness activity
permissible core business
1.4%Interest income / revenue
limit 5%
32.9%Debt / total assets
limit 33.33%
17.9%Cash / total assets
limit 33.33%

Ratios from company filings.

Calculated by Purindex from GDS Holdings Ltd’s latest 20-F filed with the SEC on 29 Apr 2026. Debt and cash are measured against total assets, as in the MSCI Islamic method, and the result above comes from these three ratios. AAOIFI measures against market cap instead, so its result can differ.

Interest-bearing debt / total assets
Short- and long-term borrowings on 31 Dec 2025
32.9%limit 33.33%Doubtful
Cash and short-term investments / total assets
Cash, cash equivalents and short-term securities on 31 Dec 2025
17.9%limit 33.33%Compliant
Interest income / revenue
12 months to 31 Dec 2025. Approximates impure revenue; other non-compliant income is not broken out in filings.
1.4%limit 5%Compliant

Source: SEC EDGAR filings. Market-cap based ratios (AAOIFI, S&P, Dow Jones) need share prices and are not shown yet.

Data and sources.

ResultCalculated by Purindex from the company's SEC filing (below).
Financial ratiosSEC 20-F filed 29 Apr 2026, balance sheet at 31 Dec 2025. Market-cap ratios need share prices and are not shown yet.
MethodTotal-assets limits (MSCI-style): debt and cash below 33.33%, interest income below 5% of revenue. The AAOIFI market-cap test follows once share prices are loaded. Purindex method v1 · how it works
Last updated4 Nov 2026

Spotted a mistake? Report a data issue. Purindex publishes this screening to help people understand what they own. It does not recommend buying, selling or holding GDS Holdings Ltd or any other security.

Questions about GDS Holdings Ltd.

Is GDS Holdings Ltd (GDS) stock halal?
Based on its latest SEC filing, measured against total assets, GDS Holdings Ltd is doubtful. Its latest filing puts at least one ratio within 10% of its limit.
How does Purindex decide whether GDS is Shariah compliant?
The core business must be permissible, impure revenue must stay below 5% of total revenue, and interest-bearing debt and interest-bearing cash must each stay below 30% of market capitalisation. A company within 10% of a limit is marked doubtful. Until share prices are loaded, US, European and UK companies are checked against total assets (33.33% limits) using their official filings, and companies without verified data are marked insufficient data.
Should I buy GDS Holdings Ltd shares?
Purindex does not recommend buying, selling or holding GDS Holdings Ltd or any other security. It publishes screening information so you can check what you own. For a personal ruling, consult a qualified scholar.