Equinix is experiencing accelerating revenue growth driven by AI demand, with revenue up 16.4% year-over-year to $2.6B in 2026Q2 and NOI margin expanding to 53.1%. The company is aggressively expanding its data center capacity, with net PPE up 33% year-over-ye...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth accelerated to 16.4% year-over-year in 2026Q2, reaching $2.6B, while NOI margin expanded to 53.1% from 48.7% a year earlier, indicating strong pricing power and operating leverage.
Equinix operates a global network of over 260 data centers across more than 75 metro areas, serving over 10,000 customers, including hyperscalers, cloud providers, and enterprises. Its dense network of cross-connections creates network effects and high switching costs, leading to customer retention exceeding 95%.
The company is experiencing accelerating demand driven by Artificial Intelligence (AI) and broader digital transformation trends. AI-driven deals are increasingly contributing to bookings, with AI workloads accounting for a significant portion of large deals.
Equinix derives 94% of its revenue from recurring streams, primarily colocation and interconnection, which benefit from multi-year contracts. This provides a stable and predictable revenue base.
Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 29, 2026 | $4.83+2.1% vs $4.73 | $2.6B+1.4% vs $2.6B |
Q2 2026 Apr 29, 2026 | $4.20-2.3% vs $4.30 | $2.4B-2.8% vs $2.5B |
Q1 2026 Feb 11, 2026 | $2.69-27.5% vs $3.71 | $2.4B-1.6% vs $2.5B |
Q4 2025 Oct 29, 2025 | $3.82+6.4% vs $3.59 | $2.3B-0.4% vs $2.3B |
The SGA U.S. LCG Portfolio returned 6.8% (Gross) and 6.0% (Net) in Q2 compared to the Russell 1000 Growth Index return of 16.7% and the S&P 500 Index return of 15.2%. Recent purchases include Equinix and Arista Networks. We liquidated our position in Intuit and Aon.
Many REITs are repriced to the downside and offer better yields. Yet this is just optics, as the underlying problem is very significant. The issue I see is that at the current valuations and market dynamics, REITs can't (or should not) be considered solid passive income investments.
Equinix (NASDAQ: EQIX) sees enterprise adoption of artificial intelligence accelerating demand for higher-density data center capacity, interconnection services and latency-sensitive infrastructure, executives said during a Barclays conference discussion. Arquelle Shaw, Equinix's President of the Americas, said she oversees growth strategy across the region from Canada through Chile and Argentina, including corporate development, business development and growth
REITs have evolved into a larger, more diversified, and better-capitalized asset class, now less sensitive to Treasury yields than in prior cycles. Modern REITs feature lower leverage (34.4% debt), predominantly fixed-rate, long-maturity debt, and strong liquidity, supporting resilience amid higher rates. Supply constraints and rising replacement costs create durable moats for select REIT sectors, especially those with HALO (Heavy Assets, Low Obsolescence) characteristics.
Benchmark EQIX against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Equinix, Inc. (EQIX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1037.66 | $102.39B | 75.41 | 5.85% | 14.58% | 9.74% | 1.82% | |
| $181.45 | $67.13B | 50.68 | 10.04% | 11.67% | 3.05% | — | |
| $170.78 | $79.58B | 31.68 | 5.11% | 30.88% | 32.39% | — | |
| $70.23 | $30.69B | 68.85 | -35.06% | 25.83% | — | — | |
| $170.53 | $18.09B | 17.40 | 5.06% | 34.51% | — | — | |
| $115.09 | $34.24B | 234.88 | 12.22% | 5.54% | — | — |
Equinix, Inc. (EQIX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Equinix, Inc. (EQIX) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 29, 2026·SEC
Jul 29, 2026·SEC
Jul 14, 2026·SEC
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Equinix, Inc. (EQIX) stock FAQ — growth, dividends, profitability & financials explained
Equinix, Inc. (EQIX) reported $9.83B in revenue for fiscal year 2025. This represents a 26487771% 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 $1.53B in net income for fiscal year 2025 (14.6% net margin).
Yes, Equinix, Inc. (EQIX) pays a dividend with a yield of 1.82%. 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.
Equinix, Inc. (EQIX) generated Funds From Operations (FFO) of $3.72B in the trailing twelve months. FFO is the primary profitability metric for REITs.
