Monday 12 October 2026
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Equinix, Inc.
EQIX Real Estate Reit Specialty
Equinix, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.2 billion, up 5.36% from fiscal 2024. In the quarter to June 2026, revenue grew 16.4%, EPS grew 29.3%, free cash flow fell 311.0% and total debt rose 13.4%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for ten.
1,032.70
6.64
+0.65%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
202.67 | 147.99 | 77.15 | 96.80 | 168.44 | 151.86 | 86.15 | 78.38 | 109.89 | 55.52 |
Piotroski F-Score |
5 | 6 | 5 | 7 | 4 | 6 | 6 | 7 | 5 | 5 |
P/S ratio |
6.96 | 7.86 | 5.55 | 8.83 | 10.44 | 11.44 | 8.35 | 9.27 | 10.29 | 8.14 |
P/FCF ratio |
34.48 | 2,603.67 | 0.00 | 477.62 | 387.74 | 0.00 | 88.30 | 588.16 | 967.80 | 0.00 |
P/Operating CF |
83.67 | 69.41 | 50.35 | 92.72 | 91.28 | 85.12 | 79.82 | 75.95 | 91.75 | 65.55 |
P/B ratio |
5.76 | 5.01 | 3.90 | 5.56 | 5.89 | 6.98 | 5.27 | 6.08 | 6.65 | 5.30 |
Price to Tangible BV |
38.08 | 647.37 | 567.13 | 25.11 | 20.94 | 21.24 | 15.34 | 15.03 | 13.62 | 10.94 |
EV/Sales |
8.60 | 9.82 | 7.56 | 10.49 | 12.20 | 13.26 | 10.14 | 10.82 | 11.72 | 9.93 |
EV/EBITDA |
21.06 | 22.87 | 17.28 | 23.64 | 29.37 | 31.63 | 24.93 | 26.96 | 30.70 | 23.39 |
EV/Operating CF |
30.47 | 29.81 | 21.11 | 29.28 | 31.69 | 34.54 | 24.86 | 27.55 | 31.55 | 23.41 |
EV/FCF |
42.58 | 3,252.62 | (84.98) | 567.36 | 453.13 | (445.39) | 107.23 | 687.08 | 1,102.10 | (65.69) |
Quick Ratio |
1.12 | 1.62 | 0.82 | 1.19 | 1.13 | 1.38 | 1.50 | 0.98 | 1.36 | 1.09 |
Current Ratio |
1.43 | 1.81 | 1.00 | 1.33 | 1.29 | 1.84 | 1.80 | 1.13 | 1.63 | 1.32 |
Net Debt/EBITDA |
4.00 | 4.56 | 4.60 | 3.74 | 4.24 | 4.33 | 4.40 | 3.88 | 3.74 | 4.23 |
Debt/Assets |
52.81% | 53.51% | 53.39% | 46.35% | 45.07% | 48.69% | 49.18% | 45.50% | 45.88% | 49.33% |
Debt/Equity |
1.53 | 1.46 | 1.50 | 1.26 | 1.14 | 1.25 | 1.30 | 1.19 | 1.19 | 1.40 |
Asset Turnover |
0.31 | 0.28 | 0.26 | 0.25 | 0.24 | 0.24 | 0.25 | 0.26 | 0.26 | 0.25 |
Operating CF/Net income |
8.04 | 6.18 | 4.97 | 3.93 | 6.25 | 5.09 | 4.20 | 3.32 | 3.99 | 2.90 |
Capex/Depreciation |
(0.34) | (1.34) | (1.83) | (1.46) | (1.49) | (1.64) | (1.30) | (1.67) | (1.57) | (2.57) |
Interest Coverage |
1.58 | 1.69 | 1.87 | 2.44 | 2.59 | 3.30 | 3.37 | 3.59 | 2.91 | 3.51 |
| 3.57% | 4.15% | 5.19% | 6.32% | 3.80% | 4.65% | 6.30% | 8.08% | 6.27% | 9.75% | |
| 1.10% | 1.49% | 1.88% | 2.30% | 1.45% | 1.82% | 2.42% | 3.08% | 2.41% | 3.59% | |
ROIC |
3.76% | 3.28% | 3.51% | 4.05% | 3.10% | 3.02% | 3.06% | 3.57% | 3.19% | 3.76% |
Return on Tangible Assets |
1.66% | 2.24% | 3.31% | 3.94% | 2.45% | 2.98% | 3.89% | 5.10% | 3.82% | 5.44% |
Average Days of Receivables |
40.04 | 48.15 | 45.35 | 45.22 | 41.18 | 37.50 | 42.99 | 44.76 | 39.60 | 39.64 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
31.38% | 30.39% | 28.80% | 28.52% | 30.16% | 30.79% | 31.47% | 30.64% | 30.37% | 29.76% |
Intangible Assets out of Total Assets |
0.29 | 0.36 | 0.35 | 0.29 | 0.28 | 0.26 | 0.25 | 0.23 | 0.20 | 0.18 |
Share Based Compensation of Revenue |
4.31% | 4.02% | 3.56% | 4.25% | 4.92% | 5.48% | 5.56% | 4.97% | 5.28% | 5.40% |
Graham Net Nets |
(0.27) | (0.28) | (0.41) | (0.25) | (0.22) | (0.19) | (0.26) | (0.22) | (0.18) | (0.28) |
Graham Number |
49.80 | 77.82 | 96.46 | 119.39 | 107.55 | 123.25 | 147.45 | 176.17 | 165.40 | 211.89 |
Earnings Yield |
0.49% | 0.68% | 1.30% | 1.03% | 0.59% | 0.66% | 1.16% | 1.28% | 0.91% | 1.80% |
Free Cash Flow Yield |
2.90% | 0.04% | (1.60%) | 0.21% | 0.26% | (0.26%) | 1.13% | 0.17% | 0.10% | (1.86%) |
Revenue per Share |
51.51 | 56.84 | 63.57 | 66.11 | 68.40 | 73.92 | 79.32 | 87.46 | 91.64 | 94.16 |
Operating CF per Share |
14.54 | 18.73 | 22.76 | 23.68 | 26.34 | 28.37 | 32.36 | 34.36 | 34.04 | 39.96 |
Capex per Share |
(4.13) | (18.56) | (28.41) | (22.46) | (24.50) | (30.57) | (24.86) | (32.99) | (33.06) | (54.20) |
Free Cash Flow per Share |
10.40 | 0.17 | (5.65) | 1.22 | 1.84 | (2.20) | 7.50 | 1.38 | 0.97 | (14.24) |
Cash per Share |
10.72 | 18.75 | 7.66 | 22.34 | 18.35 | 17.11 | 20.82 | 22.39 | 37.80 | 32.97 |
Shareholders Equity per Share |
62.26 | 89.13 | 90.49 | 105.07 | 121.26 | 121.22 | 125.65 | 133.41 | 141.71 | 144.59 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
62.26 | 89.13 | 90.49 | 105.07 | 121.26 | 121.22 | 125.65 | 133.41 | 141.71 | 144.59 |
Free Cash Flow |
729.45 | 13.19 | (451.01) | 102.83 | 161.54 | (197.56) | 687.00 | 129.00 | 93.00 | (1,394.00) |
Working Capital |
438.83 | 1,006.39 | 0.61 | 714.75 | 584.41 | 1,351.15 | 1,466.96 | 406.00 | 2,098.00 | 1,232.00 |
Capital Expenditures |
(289.90) | (1,426.04) | (2,266.44) | (1,889.90) | (2,148.29) | (2,744.76) | (2,276.00) | (3,088.00) | (3,156.00) | (5,305.00) |
Net Current Asset Value |
(6,775.02) | (9,592.54) | (11,509.68) | (12,252.61) | (13,763.56) | (14,079.83) | (15,499.65) | (16,594.00) | (16,111.00) | (20,863.00) |
EV/EBIT |
50.20 | 53.04 | 39.21 | 49.88 | 69.52 | 79.40 | 61.39 | 61.42 | 77.18 | 49.55 |
Capex to Sales |
0.08 | 0.33 | 0.45 | 0.34 | 0.36 | 0.41 | 0.31 | 0.38 | 0.36 | 0.58 |
Price to Operating Income |
40.65 | 42.46 | 28.78 | 41.99 | 59.49 | 68.52 | 50.55 | 52.58 | 67.78 | 40.58 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.12 | 0.11 | 0.11 | 0.11 | 0.10 | 0.11 | 0.11 | 0.10 | 0.10 | 0.09 |
Cash ROIC |
6.19% | 0.07% | (2.42%) | 0.47% | 0.66% | (0.76%) | 2.43% | 0.44% | 0.28% | (3.75%) |
Accounts Receivable Turnover |
10.50 | 8.98 | 8.41 | 8.43 | 8.78 | 9.77 | 9.45 | 8.81 | 8.96 | 9.45 |
Accounts Payable Turnover |
3.71 | 3.37 | 3.53 | 3.70 | 3.83 | 4.03 | 3.98 | 3.86 | 3.75 | 3.55 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
116.61 | 119.70 | 106.00 | 98.81 | 100.31 | 92.41 | 97.77 | 102.47 | 97.48 | 109.31 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
344.10 | 486.28 | 603.22 | 659.63 | 682.94 | 679.27 | 768.59 | 929.69 | 976.50 | 975.00 |
Average Payables |
491.34 | 650.50 | 737.97 | 758.71 | 802.79 | 862.00 | 941.97 | 1,095.90 | 1,190.00 | 1,271.50 |
Average Assets |
11,482.54 | 15,649.92 | 19,468.05 | 22,105.13 | 25,486.23 | 27,462.77 | 29,114.72 | 31,480.87 | 33,868.00 | 37,613.00 |
Average Common Equity |
3,555.61 | 5,607.81 | 7,034.54 | 8,029.83 | 9,737.25 | 10,757.94 | 11,193.80 | 11,997.42 | 13,008.00 | 13,840.00 |
Columns are period end dates