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EQIXEquinix, Inc.
$1092.19$107.7B
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EQIX logoEquinix, Inc.(EQIX)Earnings, Financials & Key Ratios

EQIX•NASDAQ•REIT / Real Estate
79.4× P/E·Price updated Jun 19, 2026
SectorReal EstateIndustrySpecialty REITsSub-IndustryDigital Infrastructure REITs
AboutEquinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage. With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value.Show more
  • Revenue$9.26B+5.9%
  • FFO$3.42B+21.0%
  • FFO/Share34.81+18.1%
  • FFO Payout54.33%-6.6%
  • FFO per Share34.81+18.1%
  • NOI Margin51.32%+4.9%
  • FFO Margin36.89%+14.3%
  • ROE9.74%+55.7%
  • ROA3.59%+49.2%

EQIX Key Insights

Equinix, Inc. (EQIX) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 29.6%
  • ✓FFO growing 23.0% TTM
  • ✓Sustainable FFO payout ratio of 54.3%
  • ✓10 consecutive years of dividend growth
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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EQIX Price & Volume

Equinix, Inc. (EQIX) stock price & volume — 10-year historical chart

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EQIX Growth Metrics

Equinix, Inc. (EQIX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years13.01%
5 Years9.07%
3 Years8.43%
TTM6.92%

Profit CAGR

10 Years21.81%
5 Years29.56%
3 Years24.22%
TTM53.4%

EPS CAGR

10 Years15.67%
5 Years26.91%
3 Years21.51%
TTM50.21%

Return on Capital

10 Years5.08%
5 Years4.69%
3 Years4.92%
Last Year5.44%

EQIX Recent Earnings

Equinix, Inc. (EQIX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
Apr 29, 2026
Metric
Actual
Est
EPS
$4.22-1.9%
$4.30
Rev
$2.4B-2.8%
$2.5B
Q1 2026
Feb 11, 2026
Metric
Actual
Est
EPS
$2.70-27.2%
$3.71
Rev
$2.4B-1.6%
$2.5B
Q4 2025
Oct 29, 2025
Metric
Actual
Est
EPS
$9.83+6.2%
$9.26
Rev
$2.3B-5.8%
$2.5B
Q3 2025
Jul 30, 2025
Metric
Actual
Est
EPS
$9.91+7.8%
$9.19
Rev
$2.3B-0.1%
$2.3B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 29, 2026
$4.22vs $4.30-1.9%
$2.4Bvs $2.5B-2.8%
Q1 2026Feb 11, 2026
$2.70vs $3.71-27.2%
$2.4Bvs $2.5B-1.6%
Q4 2025Oct 29, 2025
$9.83vs $9.26+6.2%
$2.3Bvs $2.5B-5.8%
Q3 2025Jul 30, 2025
$9.91vs $9.19+7.8%
$2.3Bvs $2.3B-0.1%
Based on last 12 quarters of dataView full earnings history →

EQIX Peer Comparison

Equinix, Inc. (EQIX) competitors in Digital Infrastructure REITs — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
DLR logoDLRDigital Realty Trust, Inc.Direct Competitor64.65B188.1552.5610.04%21.14%5.35%0.97
AMT logoAMTAmerican Tower CorporationProduct Competitor82.02B176.0532.665.11%26.6%27.44%4.34
CCI logoCCICrown Castle Inc.Product Competitor35.8B82.0580.44-35.06%25.13%
SBAC logoSBACSBA Communications CorporationProduct Competitor19.82B186.8719.075.06%35.66%
IRM logoIRMIron Mountain IncorporatedProduct Competitor38.03B127.83260.8812.22%3.76%
UNIT logoUNITUniti Group Inc.Product Competitor2.83B11.642.3991.49%40.53%342.98%26.35
CSCO logoCSCOCisco Systems, Inc.Supply Chain471.16B119.5446.885.3%19.69%25.14%0.60
NVDA logoNVDANVIDIA CorporationSupply Chain5.1T210.6943.0065.47%62.97%111.66%0.07

Compare EQIX vs Peers

Equinix, Inc. (EQIX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DLR

Most directly comparable listed peer for EQIX.

Scale Benchmark

vs NVDA

Larger-name benchmark to compare EQIX against a more recognizable public peer.

Peer Set

Compare Top 5

vs DLR, AMT, CCI, SBAC

EQIX Income Statement

Equinix, Inc. (EQIX) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue
4.37B5.07B5.56B6B6.64B7.26B8.19B8.75B9.26B9.46B
Revenue Growth %
20.94%16.1%9.67%7.85%10.62%9.46%12.74%6.84%5.85%6.92%
Property Operating Expenses
2.19B2.61B2.81B3.07B3.47B3.75B4.23B4.47B4.51B4.61B
Net Operating Income (NOI)
2.18B▲ 0%
2.47B▲ 13.4%
2.75B▲ 11.6%
2.92B▲ 6.3%
3.16B▲ 8.2%
3.51B▲ 11.0%
3.96B▲ 12.8%
4.28B▲ 8.1%
4.75B▲ 11.0%
4.85B▲ 0%
NOI Margin %
49.8%48.63%49.48%48.75%47.67%48.36%48.36%48.94%51.32%51.26%
Operating Expenses
1.37B1.49B1.58B1.87B2.05B2.31B2.52B2.95B2.9B2.88B
G&A Expenses
1.33B1.46B1.59B1.81B2.04B2.29B2.51B2.66B2.75B2.76B
EBITDA
1.85B2.2B2.45B2.48B2.76B2.94B3.29B3.34B3.91B4.1B
EBITDA Margin %
42.38%43.47%44.13%41.28%41.66%40.44%40.16%38.15%42.27%43.33%
Depreciation & Amortization
1.04B1.23B1.28B1.42B1.66B1.74B1.84B2.01B2.07B2.13B
D&A / Revenue %
23.86%24.2%23.1%23.73%24.96%23.92%22.53%22.97%22.31%22.53%
Operating Income
809.01M▲ 0%
977.38M▲ 20.8%
1.17B▲ 19.7%
1.05B▼ 10.0%
1.11B▲ 5.2%
1.2B▲ 8.3%
1.44B▲ 20.3%
1.33B▼ 8.0%
1.85B▲ 39.2%
1.97B▲ 0%
Operating Margin %
18.52%19.27%21.03%17.55%16.7%16.52%17.62%15.18%19.96%20.8%
Interest Expense
478.7M521.49M479.68M406.47M336.08M356M402M457M569M4M
Interest Coverage
1.60x1.83x2.44x2.27x2.81x3.33x3.80x3.13x3.53x-
Non-Operating Income
43.48M22.85M-2.65M130.24M163.13M15M-83M-104M-158M-202M
Pretax Income
286.83M▲ 0%
433.04M▲ 51.0%
692.6M▲ 59.9%
516.23M▼ 25.5%
608.95M▲ 18.0%
829M▲ 36.1%
1.12B▲ 35.6%
975M▼ 13.3%
1.51B▲ 54.7%
1.59B▲ 0%
Pretax Margin %
6.57%8.54%12.45%8.61%9.18%11.41%13.73%11.15%16.29%16.78%
Income Tax
53.85M67.68M185.35M146.15M109.22M124M155M161M160M167M
Effective Tax Rate %
18.77%15.63%26.76%28.31%17.94%14.96%13.79%16.51%10.61%10.52%
Net Income
232.98M▲ 0%
365.36M▲ 56.8%
507.45M▲ 38.9%
369.78M▼ 27.1%
500.19M▲ 35.3%
704.35M▲ 40.8%
969.18M▲ 37.6%
815M▼ 15.9%
1.35B▲ 65.6%
1.42B▲ 0%
Net Margin %
5.33%7.2%9.12%6.16%7.54%9.7%11.84%9.32%14.58%15.03%
Net Income Growth %
83.74%56.82%38.89%-27.13%35.27%40.82%37.6%-15.91%65.64%53.4%
Funds From Operations (FFO)
1.28B▲ 0%
1.59B▲ 24.9%
1.79B▲ 12.5%
1.79B▲ 0.0%
2.16B▲ 20.3%
2.44B▲ 13.2%
2.81B▲ 15.3%
2.82B▲ 0.3%
3.42B▲ 21.0%
3.55B▲ 0%
FFO Margin %
29.2%31.41%32.22%29.89%32.5%33.61%34.37%32.28%36.89%37.57%
FFO Growth %
32.31%24.88%12.52%0.05%20.26%13.21%15.27%0.35%20.96%109.89%
FFO per Share
16.4519.8621.1720.2823.8526.5929.9429.4734.8135.99
FFO Payout Ratio %
48.73%46.37%46.65%52.86%48.36%47.16%48.83%58.18%54.33%53.67%
EPS (Diluted)
3.00▲ 0%
4.56▲ 52.0%
5.99▲ 31.4%
4.18▼ 30.2%
5.53▲ 32.3%
7.67▲ 38.7%
10.31▲ 34.4%
8.50▼ 17.6%
13.76▲ 61.9%
14.40▲ 0%
EPS Growth %
67.6%52%31.36%-30.22%32.3%38.7%34.42%-17.56%61.88%50.21%
EPS (Basic)
3.034.586.034.225.577.6910.358.5413.79-
Diluted Shares Outstanding
77.53M80.2M84.68M88.41M90.41M91.83M94.01M95.83M98.12M98.73M

EQIX Balance Sheet

Equinix, Inc. (EQIX) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets
18.7B20.24B23.97B27.04B27.92B30.31B32.65B35.09B40.14B40.9B
Asset Growth %
48.28%8.28%18.38%12.82%3.25%8.57%7.72%7.45%14.41%53.41%
Real Estate & Other Assets
175.72M464.95M485.25M546.55M621.2M983.36M1.06B1.48B2.19B2.69B
PP&E (Net)
9.39B11.03B13.63B15.98B16.73B18.08B20.05B20.67B24.98B25.51B
Investment Securities
1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Total Current Assets
2.25B1.52B2.87B2.61B2.96B3.31B3.57B5.45B5.13B5.35B
Cash & Equivalents
1.41B606.17M1.87B1.6B1.54B1.91B2.1B3.08B1.73B1.36B
Receivables
1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets
48.44M83.79M247.59M261.59M420.97M204.54M69M368M897M1.18B
Intangible Assets
2.38B2.33B2.1B2.17B1.94B1.9B1.71B1.42B1.32B1.26B
Total Liabilities
11.84B13.03B15.13B16.37B17.04B18.8B20.14B21.53B25.96B26.6B
Total Debt
10.08B11.33B13.29B13.92B14.99B16.47B17.45B18.96B22.73B23.31B
Net Debt
8.67B10.73B11.42B12.32B13.46B14.56B15.36B15.88B21B21.95B
Long-Term Debt
8.32B9.44B9.6B10.31B11.57B12.75B12.72B14.01B17.6B17.71B
Short-Term Borrowings
64.49M374.13M720.83M232.47M33.09M9.85M1.01B1.2B1.32B1.88B
Capital Lease Obligations
1.7B1.52B2.97B3.39B3.39B3.71B3.72B3.75B3.81B15.24B
Total Current Liabilities
1.24B1.52B2.16B2.02B1.61B1.84B3.16B3.35B3.89B4.54B
Accounts Payable
101.74M96.98M52.23M77.7M84.08M115.95M162M133M127M1.32B
Deferred Revenue
103.9M93.57M92.9M118.37M126.12M147.99M141M139M149M0
Other Liabilities
277.32M372.24M365.24M657.54M421.59M254.17M248M271M446M968M
Total Equity
6.85B▲ 0%
7.22B▲ 5.4%
8.84B▲ 22.5%
10.63B▲ 20.3%
10.88B▲ 2.3%
11.51B▲ 5.7%
12.51B▲ 8.8%
13.55B▲ 8.3%
14.18B▲ 4.6%
14.29B▲ 0%
Equity Growth %
56.9%5.39%22.46%20.29%2.33%5.73%8.76%8.29%4.62%26.2%
Shareholders Equity
6.85B7.22B8.84B10.63B10.88B11.51B12.49B13.53B14.16B14.3B
Minority Interest
00-224K130K-318K-134K25M24M22M-3M
Common Stock
79K81K86K89K91K93K0000
Additional Paid-in Capital
10.12B10.75B12.7B15.03B15.98B17.32B18.6B20.89B21.64B21.86B
Retained Earnings
-2.34B-2.44B-2.78B-3.36B-3.9B-4.35B-4.76B-5.59B-6.1B6.51B
Preferred Stock
0000000000
Return on Assets (ROA)
1.49%1.88%2.3%1.45%1.82%2.42%3.08%2.41%3.59%3.6%
Return on Equity (ROE)
4.15%5.19%6.32%3.8%4.65%6.29%8.07%6.25%9.74%10.02%
Debt / Assets
53.92%55.98%55.44%51.49%53.7%54.34%53.46%54.04%56.62%56.99%
Debt / Equity
1.47x1.57x1.50x1.31x1.38x1.43x1.39x1.40x1.60x1.63x
Net Debt / EBITDA
4.68x4.86x4.65x4.97x4.87x4.96x4.67x4.76x5.37x5.36x
Book Value per Share
88.3490.02104.40120.28120.36125.30133.11141.42144.49144.79

EQIX Cash Flow Statement

Equinix, Inc. (EQIX) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
1.44B1.82B1.99B2.31B2.55B2.96B3.22B3.25B3.91B3.82B
Operating CF Growth %
41.19%26.14%9.77%15.91%10.28%16.33%8.55%1.01%20.38%42.53%
Operating CF / Revenue %
32.95%35.8%35.83%38.51%38.39%40.8%39.28%37.14%42.24%40.38%
Net Income
232.98M365.36M507.25M370.07M499.73M704.58M969.18M814M1.35B1.42B
Depreciation & Amortization
1.03B1.23B1.29B1.43B1.66B1.74B1.84B2.01B2.07B2.13B
Stock-Based Compensation
175.5M180.72M236.54M294.95M363.77M403.98M407.54M462M498M513M
Other Non-Cash Items
32.42M41.26M32.66M33.81M51.63M88.77M71.54M304M100M113M
Working Capital Changes
-96.33M-44.02M-93.32M32.17M-132.73M26.48M-75.32M-340M-101M-358M
Cash from Investing
-5.4B-3.08B-1.94B-3.43B-3.01B-3.36B-3.22B-3.94B-6.48B-6.98B
Acquisitions (Net)
-3.96B-829.69M-34.14M-1.18B-158.5M-964.01M00-251M-311M
Purchase of Investments
-57.93M-65.18M-20.52M-127.76M-107.53M-144.64M-135.88M-520M-2.03B-2.71B
Sale of Investments
46.42M85.78M40.39M29.35M4.06M22.07M001B1.6B
Other Investing
-47.32M-170.26M149.23M134.22M6.75M1.63M-307.46M-3.42B-5.21B-2.87B
Cash from Financing
4.61B470.91M1.2B815.53M413.76M856.77M211.45M1.72B1.27B1.61B
Dividends Paid
-621.5M-738.6M-836.16M-947.93M-1.04B-1.15B-1.37B-1.64B-1.86B-1.91B
Common Dividends
-621.5M-738.6M-836.16M-947.93M-1.04B-1.15B-1.37B-1.64B-1.86B-1.91B
Debt Issuance (Net)
1000K1000K1000K-1000K1000K1000K1000K1000K1000K2M
Share Repurchases
0000000000
Other Financing
-66.37M18.09M-66.65M-153.94M-124.29M63.81M104.92M72M-22M20M
Net Change in Cash
677.45M▲ 0%
-823.1M▼ 221.5%
1.26B▲ 253.0%
-260.92M▼ 120.7%
-76.24M▲ 70.8%
358.79M▲ 570.6%
188.06M▼ 47.6%
986M▲ 424.3%
-1.26B▼ 227.6%
-1.54B▲ 0%
Exchange Rate Effect
31.19M-33.91M8.77M40.7M-30.47M-98.2M-15.62M-49M43M17M
Cash at Beginning
773.25M1.45B627.6M1.89B1.63B1.55B1.91B2.1B3.08B1.82B
Cash at End
1.45B627.6M1.89B1.63B1.55B1.91B2.1B3.08B1.82B1.43B
Free Cash Flow
60.51M▲ 0%
-280.75M▼ 564.0%
-86.79M▲ 69.1%
27.32M▲ 131.5%
-204.31M▼ 847.8%
685.18M▲ 435.4%
435.58M▼ 36.4%
183M▼ 58.0%
-400M▼ 318.6%
888M▲ 0%
FCF Growth %
164.36%-563.98%69.09%131.48%-847.77%435.37%-36.43%-57.99%-318.58%152.99%
FCF / Revenue %
1.39%-5.54%-1.56%0.46%-3.08%9.43%5.32%2.09%-4.32%9.39%

EQIX Key Ratios

Equinix, Inc. (EQIX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
FFO per Share
16.4519.8621.1720.2823.8526.5929.9429.4734.8135.99
FFO Payout Ratio
48.73%46.37%46.65%52.86%48.36%47.16%48.83%58.18%54.33%53.67%
NOI Margin
49.8%48.63%49.48%48.75%47.67%48.36%48.36%48.94%51.32%51.26%
Net Debt / EBITDA
4.68x4.86x4.65x4.97x4.87x4.96x4.67x4.76x5.37x5.36x
Debt / Assets
53.92%55.98%55.44%51.49%53.7%54.34%53.46%54.04%56.62%56.99%
Interest Coverage
1.60x1.83x2.44x2.27x2.81x3.33x3.80x3.13x3.53x-
Book Value / Share
88.3490.02104.4120.28120.36125.3133.11141.42144.49144.79
Revenue Growth
20.94%16.1%9.67%7.85%10.62%9.46%12.74%6.84%5.85%6.92%
Related:EQIX Dividend History·EQIX Revenue History·EQIX Price History·EQIX P/E History·EQIX Financial Ratios·EQIX Institutional Holders

EQIX SEC Filings & Documents

Equinix, Inc. (EQIX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Mar 10, 2026·SEC

Material company update

Mar 5, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 11, 2026·SEC

FY 2025

Feb 12, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

Apr 29, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 30, 2025·SEC

EQIX Frequently Asked Questions

Equinix, Inc. (EQIX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Equinix, Inc. (EQIX) reported $9.46B in revenue for fiscal year 2025. This represents a 25493161% increase from $0.0M in 1999.

Equinix, Inc. (EQIX) grew revenue by 5.9% over the past year. This is steady growth.

Yes, Equinix, Inc. (EQIX) is profitable, generating $1.42B in net income for fiscal year 2025 (14.6% net margin).

Dividend & Returns

Yes, Equinix, Inc. (EQIX) pays a dividend with a yield of 1.73%. This makes it attractive for income-focused investors.

Equinix, Inc. (EQIX) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.

Industry Metrics

Equinix, Inc. (EQIX) generated Funds From Operations (FFO) of $3.55B in the trailing twelve months. FFO is the primary profitability metric for REITs.

What if you invested $1,000 in EQIX back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

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How much would $100/month in EQIX be worth today?

Dollar cost averaging calculator · DCA vs lump sum

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