EQUINIX INC EQIX

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived Nasdaq

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, shortening the path to boundless connectivity anywhere in the world to enable the innovations that enrich our work, life and planet. Equinix combines a global footprint of International Business ExchangeTM (IBX®) and xScaleTM data centers in the Americas, Asia-Pacific, and Europe, the Middle East and Africa ("EMEA") regions, infrastructure and interconnection offerings, and digital ecosystems required to serve a large and diverse set of customers around the world.

Equinix was incorporated on June 22, 1998 as a Delaware corporation and operates as a REIT for federal income tax purposes. Since our inception, Equinix has been a network-neutral, multi-tenant data center ("MTDC") provider, where competing networks could connect and share data traffic to help scale the rapid growth of the early internet. The company's name, Equinix (composed from the words "equality," "neutrality" and "internet exchange"), reflects that vision. The founders believed they not only had the opportunity, but also the responsibility, to create a company that would be the steward of some of the most important digital infrastructure assets in the world. Twenty-seven years later, we have expanded upon that vision by connecting economies, countries, enterprises and communities with seamless digital experiences, including cutting-edge artificial intelligence ("AI").

Last close 955.03 2026-10-23
Market cap $94.23B 2026-06-30 share count
52-week range 720.62 - 1,128.68

Valuation FY2025 figures against the last close

P/S10.2x
P/E69.4x
P/FCF—
EV/EBITDA23.7x
Dividend yield2.0%
Diluted EPS13.76

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $9.22B$8.75B$8.19B$7.26B$6.64B$6.00B$5.56B$5.07B$4.37B$3.61B
Cost of revenue $4.51B$4.47B$4.23B$3.75B$3.47B$3.07B$2.81B$2.61B$2.19B$1.82B
Gross profit $4.71B$4.28B$3.96B$3.51B$3.16B$2.92B$2.75B$2.47B$2.18B$1.79B
SG&A $1.84B$1.77B$1.65B$1.50B$1.30B$1.09B$935.0M$826.7M$745.9M$694.6M
Total operating expenses $7.37B$7.42B$6.75B$6.06B$5.53B$4.95B$4.39B$4.09B$3.56B$2.99B
Operating income $1.85B$1.33B$1.44B$1.20B$1.11B$1.05B$1.17B$977.4M$809.0M$618.7M
Interest expense $527.0M$457.0M$402.0M$356.0M$336.1M$406.5M$479.7M$521.5M$478.7M$392.2M
Pre-tax income $1.51B$975.0M$1.12B$829.0M$609.0M$516.2M$692.6M$433.0M$286.8M$159.9M
Income tax $160.0M$161.0M$155.0M$124.0M$109.2M$146.2M$185.4M$67.7M$53.9M$45.5M
Net income $1.35B$815.0M$969.0M$705.0M$500.2M$369.8M$507.4M$365.4M$233.0M$126.8M
EPS, basic 13.798.5410.357.695.574.226.034.583.031.81
EPS, diluted 13.768.5010.317.675.534.185.994.563.001.79
Shares, diluted (wtd. avg.) 98.1M95.8M94.0M91.8M90.4M88.4M84.7M80.2M77.5M70.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.73B$3.08B$2.10B$1.91B$1.55B$1.63B$1.89B$627.6M$1.45B$773.2M
Short-term investments $1.50B$527.0M$0—$0$4.5M$10.4M$4.5M$28.3M$3.4M
Receivables $1.00B$949.0M$1.00B$855.0M$681.8M$676.7M$689.1M$630.1M$576.3M$396.2M
Total current assets $5.12B$5.45B$3.57B$3.31B$2.96B$2.61B$2.87B$1.52B$2.25B$1.47B
Property, plant and equipment $23.58B$19.25B$18.60B$16.65B$15.45B$14.50B$12.15B$11.03B$9.39B$7.20B
Goodwill $5.98B$5.50B$5.74B$5.65B$5.37B$5.47B$4.78B$4.84B$4.41B$2.99B
Other intangibles $1.32B$1.42B$1.71B$1.90B$1.94B$2.17B$2.10B$2.33B$2.38B$719.2M
Total assets $40.14B$35.09B$32.65B$30.31B$27.92B$27.01B$23.97B$20.24B$18.69B$12.61B
Accounts payable $127.0M$133.0M$162.0M$116.0M$84.1M$77.7M$52.2M$97.0M$101.7M$60.2M
Short-term debt $1.30B$1.20B$998.0M———————
Total current liabilities $3.89B$3.35B$3.16B$1.84B$1.61B$2.02B$2.16B$1.52B$1.24B$1.03B
Long-term debt —$15.33B$13.84B$12.88B$11.72B$10.63B$10.40B$9.89B$8.47B$5.31B
Total liabilities $25.96B$21.53B$20.14B$18.80B$17.04B$16.37B$15.13B$13.03B$11.84B$8.24B
Retained earnings $6.10B$4.75B$3.93B$2.96B$2.26B$1.76B$1.39B$889.9M$252.7M$18.6M
Total equity $14.16B$13.53B$12.49B$11.51B$10.88B$10.63B$8.84B$7.22B$6.85B$4.37B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.91B$3.25B$3.22B$2.96B$2.55B$2.31B$1.99B$1.82B$1.44B$1.02B
Depreciation and amortisation $2.05B$2.01B$1.84B$1.74B$1.66B$1.42B$1.28B$1.23B$1.04B$837.2M
Stock-based compensation $498.0M$462.0M$407.0M$404.0M$363.8M$295.0M$236.5M$180.7M$175.5M$155.6M
Capital expenditure $4.31B$3.07B$2.78B$2.28B$2.75B$2.28B$2.08B$2.10B$1.38B$1.11B
Investing cash flow -$6.48B-$3.94B-$3.22B-$3.36B-$3.01B-$3.43B-$1.94B-$3.08B-$5.40B-$2.05B
Financing cash flow $1.27B$1.72B$211.0M$857.0M$413.8M$815.5M$1.20B$470.9M$4.61B-$897.1M
Dividends paid $1.86B$1.64B$1.38B$1.15B$1.04B$947.9M$836.2M$738.6M$621.5M$499.5M
Buybacks —————————$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001101239-26-000032.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2.5B 5B 7.5B 10B Revenue, FY2016: 3.6B Gross profit, FY2016: 1.8B Net income, FY2016: 126.8M Revenue, FY2017: 4.4B Gross profit, FY2017: 2.2B Net income, FY2017: 233M Revenue, FY2018: 5.1B Gross profit, FY2018: 2.5B Net income, FY2018: 365.4M Revenue, FY2019: 5.6B Gross profit, FY2019: 2.8B Net income, FY2019: 507.4M Revenue, FY2020: 6B Gross profit, FY2020: 2.9B Net income, FY2020: 369.8M Revenue, FY2021: 6.6B Gross profit, FY2021: 3.2B Net income, FY2021: 500.2M Revenue, FY2022: 7.3B Gross profit, FY2022: 3.5B Net income, FY2022: 705M Revenue, FY2023: 8.2B Gross profit, FY2023: 4B Net income, FY2023: 969M Revenue, FY2024: 8.7B Gross profit, FY2024: 4.3B Net income, FY2024: 815M Revenue, FY2025: 9.2B Gross profit, FY2025: 4.7B Net income, FY2025: 1.4B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $3.61B $4.37B $5.07B $5.56B $6.00B $6.64B $7.26B $8.19B $8.75B $9.22B
Gross profit $1.79B $2.18B $2.47B $2.75B $2.92B $3.16B $3.51B $3.96B $4.28B $4.71B
Net income $126.8M $233.0M $365.4M $507.4M $369.8M $500.2M $705.0M $969.0M $815.0M $1.35B

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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