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