Sector expansion plans boost ASX data centre stocks

Infratil, NEXTDC and DigiCo are meeting the surge in demand for secure high density computing through large scale expansion, premium interconnection hubs which puts them at the centre of cloud, AI and national security infrastructure.

ASX data centre stocks

Infratil Limited (ASX: IFT) 

NEXTDC Limited (ASX: NXT) 

DigiCo Infrastructure REIT (ASX: DGT) 

Infratil Limited (ASX: IFT) 

is one of the main digital infrastructure investors in Australasia with its CDC Data Centres business being the biggest growth driver. CDC made about A$445.5 million revenue and A$330 million EBITDAF in FY25 which is 22% more than last year. This was possible because of new capacity in Melbourne and New Zealand plus higher use of the already running sites. At group level Infratil reported NZ$917.8 million proportionate EBITDAF compared to NZ$864.1 million last year. Net debt was NZ$1.44 billion. The final dividend was 13.25cps making full year payout 20.5cps which is 2.5% higher than last year. For FY26 the company has given guidance of NZ$1.0–1.05 billion proportionate EBITDAF, mostly from CDC which expects A$390–410 million EBITDAF. With Marsden Park and Laverton projects already under construction, two of the biggest campuses in Southern Hemisphere, CDC is looking to more than double its capacity.

NEXTDC Limited (ASX: NXT) 

performed well in FY25 with net revenue going up 14% to A$350.2 million and underlying EBITDA climbing 6% to A$216.7 million. Contracted utilisation jumped 42% to 244.8MW and billing utilisation grew 29% to 110.9MW, driven by strong rising demand. The company posted a net loss of A$60.5 million mainly because of higher depreciation and finance costs, but its balance sheet stayed strong with net debt at A$904 million and A$5.5 billion in liquidity. It has a record forward order book of 134MW which supports near term revenue growth with about 85% expected to turn into billings by FY27. Expansion plans include Melbourne upgrades, new hyperscale campuses S4 and S7 in Western Sydney through a proposed JV and overseas projects in Tokyo and Kuala Lumpur. For FY26, the company is guiding revenue of A$390–400 million and EBITDA between A$230–240 million.

DigiCo Infrastructure REIT (ASX: DGT) 

had a very strong first year as a listed data centre REIT, making its name as one of the main players in Australia’s digital infrastructure. For FY25, the company posted revenue of about A$105.2 million with underlying EBITDA of A$52.9 million which annualised to A$99.1 million and this was above what the Prospectus had guided. Funds from operations came in at A$39.1 million and the company declared a final distribution of 10.9cps keeping in line with its payout policy of 90-100%. The balance sheet ended the year with A$425 million in cash and total liquidity of A$740 million. For the year ahead, FY26 guidance is for underlying EBITDA between A$120-125 million and growth capex of A$160-180 million mostly going into expansion at SYD1. Total billed IT capacity is expected to be atleast 85MW by July 2026 and this will support a run rate EBITDA of A$180 million.

(Source: Company Announcements)