Leidos Holdings, Inc. (LDOS) vs. DIGITAL REALTY TRUST, INC. (DLR) Stock Comparison & Valuation | Edwyn

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Leidos Holdings, Inc. (LDOS) vs. DIGITAL REALTY TRUST, INC. (DLR) Stock Comparison & Valuation | Edwyn

Updated 2026-08-02 16:02 UTC

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LDOS screens much cheaper than DLR on every trading multiple, but the apparent valuation gap is largely explained by DLR’s very different business model and LDOS’s stronger profitability and balance-sheet quality make the comparison less straightforward than the headline P/E suggests.

Actionable Takeaway

If you believe LDOS’s higher ROIC and solid quality scores deserve a re-rating despite slower growth, then LDOS looks attractive relative to DLR because it trades at far lower earnings, sales, and EBITDA multiples while remaining below the DCF range.

LDOS trades at 10.4x P/E, 0.8x P/S, and 6.7x EV/EBITDA versus DLR at 52.7x, 10.8x, and 25.8x, so the headline gap is extremely wide. However, DLR is not directly comparable economically, and LDOS also sits near the middle of its historical band while trading below the DCF range, which suggests the stock is not obviously expensive on its own framework.

Supporting Metrics

Key Risks

DLR is not a clean comp for LDOS, so the 407.5% implied upside from the P/E comparison may be overstated.
LDOS’s leverage is higher than DLR’s, with debt/equity of 0.9x and net debt/EBITDA of 1.3x.
DLR’s faster revenue growth of 10.0% versus LDOS’s 3.1% could justify a premium multiple and limit relative re-rating.