Monday 12 October 2026 Export all EQIX data to Excel Powerpack

Equinix, Inc.

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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Market cap: $101.2B
P/E: 65.8×
Fwd P/E: 62.5×
Dividend yield: 1.97%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 61.23

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	5	8	11	14	1	3	5	—	3	2	—

Insider Ownership 0.27%

Capital & Financial Ratios $m

Market Cap 101,240.00

Revenue 9,805.00

Net Income 1,530.00

Free Cash Flow (2,235.00)

Net Debt 18,419.00

Current Ratio 1.13

Debt/Equity 1.44

P/E ratio 65.77

Fwd P/E 62.50

P/S ratio 10.32

P/B ratio 7.04

Past 5Y EPS Growth 26.91%

This Y EPS Growth 25.04%

Next Y EPS Growth 10.39%

Next Y revenue growth 11.61%

Next 5Y EPS Growth 14.96%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 2.10%

10-year low 10-year high

P/S against its own 10 years 81.54%

10-year low 10-year high

P/B against its own 10 years 95.24%

10-year low 10-year high

EV/Sales against its own 10 years 84.38%

10-year low 10-year high

Dividends

Payout Ratio 1.30

Annual Dividend Rate 20.17

Annual Dividend Yield 1.97%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	20.67	5.16 5.16 5.16
2025	18.76	4.69 4.69 4.69 4.69
2024	17.04	4.26 4.26 4.26 4.26
2023	14.49	3.41 3.41 3.41 4.26
2022	12.40	3.10 3.10 3.10 3.10
2021	11.48	2.87 2.87 2.87 2.87
2020	10.64	2.66 2.66 2.66 2.66
2019	9.84	2.46 2.46 2.46 2.46
2018	9.12	2.28 2.28 2.28 2.28
2017	8.00	2.00 2.00 2.00 2.00
2016	7.00	1.75 1.75 1.75 1.75

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,096	3,608	3,227	2,224
Receivables	1,004	949	1,001	1,256
Inventory	—	—	—	—
Other	468	890	897	842
	3,568	5,447	5,125	4,322

	2023	2024	2025	Q'26
Payables	1,187	1,193	1,350	1,263
ST’ Debt	8	5	17	9
Other	302	232	340	323
	3,162	3,349	3,893	3,820

Compound Annual Growth %

	10y	5y	3y
Sales	12.96%	8.97%	8.27%
Cash Flow	15.89%	11.11%	9.69%
Earnings	21.81%	29.56%	24.18%
Book Value	17.82%	5.88%	7.15%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,444	2,625	—	—	—
’25	2,225	2,256	2,316	2,420	9,217
’24	2,127	2,159	2,201	2,261	8,748
’23	1,998	2,019	2,061	2,110	8,188
’22	1,734	1,817	1,841	1,871	7,263
’21	1,596	1,658	1,675	1,706	6,636
’20	1,445	1,470	1,520	1,564	5,999

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	717	1,067	—	—	—
’25	809	944	1,014	1,144	3,911
’24	598	912	758	981	3,249
’23	692	741	785	999	3,217
’22	581	802	820	760	2,963
’21	391	599	665	892	2,547
’20	517	575	532	686	2,310

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(404)	(522)	—	—	—
’25	42	(127)	(414)	(895)	(1,394)
’24	(109)	386	(128)	(56)	93
’23	234	63	60	(228)	129
’22	364	339	259	(276)	687
’21	(226)	(127)	54	102	(198)
’20	80	47	(75)	110	162

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	4.20	4.83	—	—	—
’25	3.50	3.75	3.81	2.69	13.76
’24	2.43	3.16	3.10	(0.14)	8.50
’23	2.77	2.21	2.93	2.40	10.31
’22	1.62	2.37	2.30	1.39	7.67
’21	1.74	0.76	1.68	1.36	5.53
’20	1.38	1.52	0.74	0.57	4.18

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	255.45	355.18	335.29	343.58	477.87	586.73	494.89	650.61	684.14	701.41	Analyst estimates 2026–2028 Powerpack
	High	391.07	495.35	461.73	609.97	839.77	885.26	847.71	824.86	994.03	964.73
People
People	Employees	5,993	7,273	7,903	8,378	10,013	10,944	12,097	13,151	13,606	13,716
	Revenue/emp, $m	0.60	0.60	0.64	0.66	0.60	0.61	0.60	0.62	0.64	0.67
Income, $m
Income, $m	Revenue	3,612	4,368	5,072	5,562	5,999	6,636	7,263	8,188	8,748	9,217
	Gross margin, %	49.59	49.80	48.63	49.48	48.75	47.67	48.35	48.36	48.94	51.09
	EBT	160	287	433	693	516	609	829	1,124	975	1,508
	EBT margin, %	4.43	6.57	8.54	12.45	8.61	9.18	11.41	13.73	11.15	16.36
	Net income	127	233	365	507	370	500	705	969	814	1,348
	Depreciation	856	1,067	1,241	1,298	1,439	1,673	1,755	1,844	2,011	2,066
Per share, $
Per share, $	Revenue	51.51	56.84	63.57	66.11	68.40	73.92	79.32	87.46	91.64	94.16
	Earnings	1.81	3.03	4.58	6.03	4.22	5.57	7.69	10.35	8.54	13.79
	Cash flow	14.54	18.73	22.76	23.68	26.34	28.37	32.36	34.36	34.04	39.96
	Capex	(4.13)	(18.56)	(28.41)	(22.46)	(24.50)	(30.57)	(24.86)	(32.99)	(33.06)	(54.20)
	Free cash flow	10.40	0.17	(5.65)	1.22	1.84	(2.20)	7.50	1.38	0.97	(14.24)
	Book value	62.26	89.13	90.49	105.07	121.26	121.22	125.65	133.41	141.71	144.59
	Shares, m	70	77	80	84	88	90	92	94	95	98
Valuation, ×
Valuation, ×	P/E	202.67	147.99	77.15	96.80	168.44	151.86	86.15	78.38	109.89	55.52
	P/S	6.96	7.86	5.55	8.83	10.44	11.44	8.35	9.27	10.29	8.14
	P/B	5.76	5.01	3.90	5.56	5.89	6.98	5.27	6.08	6.65	5.30
	EV/Sales	8.60	9.82	7.56	10.49	12.20	13.26	10.14	10.82	11.72	9.93
	EV/FCF	42.58	3,252.62	(84.98)	567.36	453.13	(445.39)	107.23	687.08	1,102.10	(65.69)
Cash, $m
Cash, $m	Operating cash flow	1,019	1,439	1,815	1,993	2,310	2,547	2,963	3,217	3,249	3,911
	Capex	(290)	(1,426)	(2,266)	(1,890)	(2,148)	(2,745)	(2,276)	(3,088)	(3,156)	(5,305)
	Free cash flow	729	13	(451)	103	162	(198)	687	129	93	(1,394)
Balance, $m
Balance, $m	Working capital	439	1,006	1	715	584	1,351	1,467	406	2,098	1,232
	Total debt	6,659	10,002	10,809	11,108	12,173	13,593	14,906	14,856	16,098	19,800
	Net debt	5,907	8,561	10,199	9,228	10,563	12,057	12,999	12,760	12,490	16,573
	Shareholders’ equity	4,366	6,850	7,219	8,840	10,634	10,882	11,506	12,489	13,527	14,153
Returns, %
Returns, %	ROA	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
	ROE	3.57	4.15	5.19	6.32	3.80	4.65	6.30	8.08	6.27	9.75

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EQIX Equinix, Inc.	$99.8B	65.8×	62.5×	+16.36% (above 0%: growing)	+29.26% (above 0%: growing)	−311.02% (below 0%: shrinking)	53.14%	25.33%
AMT American Tower Corporation	$77.7B	25.0×	29.7×	+4.65% (above 0%: growing)	+138.46% (above 0%: growing)	+19.35% (above 0%: growing)	73.03%	46.15%	Compare
DLR Digital Realty Trust, Inc.	$65.3B	82.2×	89.2×	+28.86% (above 0%: growing)	−58.75% (below 0%: shrinking)	−25.86% (below 0%: shrinking)	61.14%	24.28%	Compare
IRM Iron Mountain Incorporated	$33.6B	81.8×	64.9×	+18.52% (above 0%: growing)	n/m	+58.56% (above 0%: growing)	52.76%	18.41%	Compare
CCI Crown Castle Inc.	$29.3B	40.2×	46.8×	−4.91% (below 0%: shrinking)	−67.16% (below 0%: shrinking)	−40.40% (below 0%: shrinking)	73.41%	46.63%	Compare
SBAC SBA Communications Corporation	$18.0B	19.6×	27.6×	+2.33% (above 0%: growing)	−10.95% (below 0%: shrinking)	+11.32% (above 0%: growing)	75.39%	49.19%	Compare
LAMR Lamar Advertising Company	$14.8B	26.7×	25.6×	+6.46% (above 0%: growing)	+3.95% (above 0%: growing)	+8.91% (above 0%: growing)	68.51%	33.72%	Compare
WY Weyerhaeuser Company	$13.8B	28.9×	56.6×	−0.90% (below 0%: shrinking)	+91.67% (above 0%: growing)	+29.41% (above 0%: growing)	16.66%	11.94%	Compare
GLPI Gaming and Leisure Properties, Inc.	$11.1B	11.2×	14.4×	+9.03% (above 0%: growing)	+45.45% (above 0%: growing)	−42.77% (below 0%: shrinking)	100.00%	77.21%	Compare
Median of peers	$23.7B	27.8×	38.3×	+5.56%	+3.95%	+10.11%	70.77%	39.94%

All 18 Reit Specialty stocks →

Equinix, Inc. (EQIX) key facts

Strength: Equinix, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.2 billion, up 5.36% from fiscal 2024.
Equinix, Inc. (EQIX) is a Reit Specialty company in the Real Estate sector, listed on Nasdaq.
As of October 12, 2026, EQIX traded at $1,028.75, a market capitalization of $101.2 billion.
Equinix, Inc. pays an annual dividend of $20.17 per share, a yield of 1.97%, with a payout ratio of 129.9%.
Return on equity was 9.75% and debt-to-equity 1.44.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated 29 September 2026

Equinix reported $9.2 billion of revenue in FY2025 and $1.3 billion of net income in FY2025. In Q2 FY2026, revenue was $2.6 billion, operating income was $665.0 million and diluted EPS was $4.83. Trailing-twelve-month revenue to Q2 FY2026 was $9.8 billion.

Capital spending remained material: free cash flow was −$1.4 billion in FY2025 and −$2.2 billion in the TTM to Q2 FY2026. Net debt reached $18.4 billion in Q2 FY2026. As of September 28, 2026, the P/E was 64.7×, while P/S was 10.2×.

Read the full analysis →