EQIX · Equinix Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.44B | - | $2.32B | $2.26B | $2.23B | - | $2.20B | $2.16B | $2.13B | - |
| Cost of Revenue | $1.19B | - | $1.14B | $1.08B | $1.08B | - | $1.10B | $1.08B | $1.09B | - |
| Gross Profit | $1.26B | - | $1.17B | $1.17B | $1.14B | - | $1.10B | $1.08B | $1.04B | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $444.00M | - | $470.00M | $451.00M | $438.00M | - | $434.00M | $437.00M | $444.00M | - |
| Total Operating Expenses | $1.87B | - | $1.84B | $1.76B | $1.77B | - | $1.78B | $1.72B | $1.76B | - |
| D&A | $541.00M | - | $530.00M | $499.00M | $479.00M | - | $496.00M | $489.00M | $526.00M | - |
| Operating Income | $577.00M | - | $474.00M | $494.00M | $458.00M | - | $425.00M | $436.00M | $364.00M | - |
| Interest Expense | $148.00M | - | $128.00M | $135.00M | $104.00M | - | $102.00M | $110.00M | $104.00M | - |
| Income Tax | $56.00M | - | $25.00M | $38.00M | $49.00M | - | $54.00M | $47.00M | $46.00M | - |
| Net Income | $415.00M | - | $374.00M | $368.00M | $343.00M | - | $297.00M | $231.00M | $231.00M | - |
| EPS - Basic | $4.22 | - | $3.82 | $3.76 | $3.52 | - | $3.11 | $3.17 | $2.44 | - |
| EPS - Diluted | $4.20 | - | $3.81 | $3.75 | $3.50 | - | $3.10 | $3.16 | $2.43 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.36B | $1.73B | $2.08B | $3.66B | $2.95B | $3.08B | $2.78B | $1.99B | $1.53B | $2.10B |
| Accounts Receivable | $1.11B | $1.00B | $1.14B | $1.14B | $1.09B | $949.00M | $1.12B | $1.12B | $1.08B | $1.00B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | $127.00M | - | - | - | $133.00M | - | - | - | $162.36M |
| Current Assets | $5.35B | $5.13B | $4.97B | $6.55B | $5.50B | $5.45B | $5.05B | $3.73B | $3.17B | $3.57B |
| Total Assets | $40.90B | $40.14B | $38.06B | $38.85B | $36.08B | $35.09B | $35.44B | $32.85B | $31.94B | $32.65B |
| Current Liabilities | $4.54B | $3.89B | $3.07B | $4.24B | $3.33B | $3.35B | $4.37B | $3.07B | $2.89B | $3.16B |
| Long-term Debt | $19.79B | - | $17.33B | $18.07B | $15.89B | $15.33B | $15.39B | $14.45B | $13.74B | $13.84B |
| Total Liabilities | $26.58B | $25.96B | $23.88B | $24.74B | $22.17B | $21.53B | $21.83B | $20.55B | $19.61B | $20.14B |
| Stockholders' Equity | $14.30B | $14.16B | $14.16B | $14.08B | $13.89B | $13.53B | $13.59B | $12.28B | $12.30B | $12.49B |
| Retained Earnings | $6.51B | $6.10B | $5.83B | $5.46B | $5.09B | $4.75B | $4.76B | $4.47B | $4.17B | $3.93B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $717.00M | - | - | - | $809.00M | - | - | - | $598.00M | - |
| Investing Cash Flow | ($1.46B) | - | - | - | ($964.00M) | - | - | - | ($727.00M) | - |
| Financing Cash Flow | $349.00M | - | - | - | $15.00M | - | - | - | ($397.00M) | - |
| CapEx | $1.26B | - | $1.14B | $989.00M | $750.00M | - | $724.00M | $648.00M | $707.00M | - |
| Free Cash Flow | ($539.00M) | - | - | - | $59.00M | - | - | - | ($109.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 51.5% | - | 50.7% | 52.0% | 51.3% | - | 50.1% | 49.9% | 48.7% | - |
| Operating margin | 23.6% | - | 20.5% | 21.9% | 20.6% | - | 19.3% | 20.2% | 17.1% | - |
| EBITDA margin | 45.7% | - | 43.4% | 44.0% | 42.1% | - | 41.8% | 42.8% | 41.8% | - |
| Net margin | 17.0% | - | 16.1% | 16.3% | 15.4% | - | 13.5% | 10.7% | 10.9% | - |
| Free cash flow margin | -22.1% | - | - | - | 2.7% | - | - | - | -5.1% | - |
| FCF / Net income | -1.30 | - | - | - | 0.17 | - | - | - | -0.47 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 18.2% | - | 20.3% | 20.0% | 19.7% | - | 19.7% | 20.2% | 20.9% | - |
| Effective tax rate | 11.9% | - | 6.3% | 9.4% | 12.5% | - | 15.4% | 16.9% | 16.6% | - |
| Return on assets | 1.0% | - | 1.0% | 0.9% | 1.0% | - | 0.8% | 0.7% | 0.7% | - |
| Return on equity | 2.9% | - | 2.6% | 2.6% | 2.5% | - | 2.2% | 1.9% | 1.9% | - |
| Return on invested capital | 1.5% | - | 1.4% | 1.4% | 1.3% | - | 1.2% | 1.4% | 1.2% | - |
| Liquidity | ||||||||||
| Current ratio | 1.18 | 1.32 | 1.62 | 1.54 | 1.65 | 1.63 | 1.16 | 1.22 | 1.10 | 1.13 |
| Quick ratio | 1.18 | 1.32 | 1.62 | 1.54 | 1.65 | 1.63 | 1.16 | 1.22 | 1.10 | 1.13 |
| Cash ratio | 0.30 | 0.44 | 0.68 | 0.86 | 0.89 | 0.92 | 0.64 | 0.65 | 0.53 | 0.66 |
| Leverage | ||||||||||
| Debt / Equity | 1.38 | - | 1.22 | 1.28 | 1.14 | 1.13 | 1.13 | 1.18 | 1.12 | 1.11 |
| Debt / Assets | 0.48 | - | 0.46 | 0.47 | 0.44 | 0.44 | 0.43 | 0.44 | 0.43 | 0.42 |
| Debt / EBITDA | 17.70 | - | 17.26 | 18.20 | 16.96 | - | 16.72 | 15.63 | 15.44 | - |
| Interest coverage | 3.9x | - | 3.7x | 3.7x | 4.4x | - | 4.2x | 4.0x | 3.5x | - |
| Equity multiplier | 2.86 | 2.84 | 2.69 | 2.76 | 2.60 | 2.59 | 2.61 | 2.68 | 2.60 | 2.61 |
| Liabilities / Assets | 0.65 | 0.65 | 0.63 | 0.64 | 0.61 | 0.61 | 0.62 | 0.63 | 0.61 | 0.62 |
| Efficiency | ||||||||||
| Asset turnover | 0.06 | - | 0.06 | 0.06 | 0.06 | - | 0.06 | 0.07 | 0.07 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 165d | - | 180d | 184d | 179d | - | 186d | 190d | 185d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 233.4x | - | 205.6x | 212.1x | 233.0x | - | 286.3x | 239.4x | 339.6x | - |
| P / B | 6.8x | - | 5.4x | 5.5x | 5.7x | - | 6.3x | 5.9x | 6.4x | - |
| P / S | 39.6x | - | 33.2x | 34.6x | 35.9x | - | 38.6x | 33.3x | 36.9x | - |
| EV / EBITDA | 103.0x | - | 91.8x | 93.1x | 99.0x | - | 106.0x | 91.3x | 102.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 9.8% | - | 5.2% | 4.5% | 4.6% | - | 6.8% | 7.0% | 6.4% | - |
| Revenue CAGR (3y) | 6.9% | - | 8.0% | 7.5% | 8.7% | - | 9.5% | 9.2% | 10.0% | - |
| Revenue CAGR (5y) | 8.9% | - | 8.8% | 8.9% | 9.0% | - | 9.5% | 9.3% | 9.3% | - |
| Gross profit growth (YoY) | 10.3% | - | 6.4% | 8.8% | 10.1% | - | 11.2% | 12.5% | 4.4% | - |
| Operating income growth (YoY) | 26.0% | - | 11.5% | 13.3% | 25.8% | - | 11.7% | 31.2% | -5.2% | - |
| Net income growth (YoY) | 21.0% | - | 25.9% | 59.3% | 48.5% | - | 7.7% | 11.6% | -10.7% | - |
| EPS growth (YoY) | 20.0% | - | 22.9% | 18.7% | 44.0% | - | 5.8% | 43.0% | -12.3% | - |
| EPS CAGR (3y) | 14.9% | - | 18.3% | 16.5% | 29.3% | - | 22.7% | 60.8% | 11.8% | - |
| EPS CAGR (5y) | 19.3% | - | 38.8% | 19.8% | 20.5% | - | 17.1% | 13.3% | 11.0% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | -12.6% | - | - | - | - | - |
| Book value growth (YoY) | 2.9% | 4.6% | 4.2% | 14.7% | 12.9% | 8.3% | 14.3% | 2.1% | 2.2% | 8.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$9.22B totalAmericas Segment$4.11B · 44.6%
EMEASegment$3.13B · 34.0%
Asia Pacific Segment$1.98B · 21.4%
Product / service
$8.00B totalRecurring Revenues$3.89B · 48.6%
Colocation$2.68B · 33.5%
Interconnection$944.00M · 11.8%
Managed Infrastructure$245.00M · 3.1%
Non Recurring Revenues$222.00M · 2.8%
Other$17.00M · 0.2%
Geographic
$3.60B totalUS$3.60B · 100.0%
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing EQUINIX INC against the 5 most active filers in the same SIC group.
Dividends
$19.70/share trailing 12 months · +10.1% YoY
| Ex-date | Per share |
|---|---|
| May 20, 2026 | $5.1600 |
| Feb 25, 2026 | $5.1600 |
| Nov 19, 2025 | $4.6900 |
| Aug 20, 2025 | $4.6900 |
| May 21, 2025 | $4.6900 |
| Feb 26, 2025 | $4.6900 |
| Nov 13, 2024 | $4.2600 |
| Aug 21, 2024 | $4.2600 |
| May 21, 2024 | $4.2600 |
| Feb 27, 2024 | $4.2600 |
| Nov 14, 2023 | $4.2600 |
| Aug 22, 2023 | $3.4100 |
| May 23, 2023 | $3.4100 |
| Mar 6, 2023 | $3.4100 |
| Nov 15, 2022 | $3.1000 |
| Aug 16, 2022 | $3.1000 |
| May 17, 2022 | $3.1000 |
| Mar 4, 2022 | $3.1000 |
| Nov 16, 2021 | $2.8700 |
| Aug 17, 2021 | $2.8700 |
| May 18, 2021 | $2.8700 |
| Feb 23, 2021 | $2.8700 |
| Nov 17, 2020 | $2.6600 |
| Aug 18, 2020 | $2.6600 |