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EQIX EQUINIX INC

NasdaqReal estateReal Estate Investment TrustsRedwood City, CAFY ends December 31

Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 11, 2026

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$9.22BYoYup 5.36%ended Dec 31, 2025
Net income
$1.35B14.6% margin
Diluted EPS
$13.76YoYup 61.88%
Free cash flow
—
Cash
$1.73B
Total debt
—Not meaningful for financial companies
About EQUINIX INC

Overview

EQUINIX INC (EQIX) is listed on Nasdaq; the SEC classifies it under "Real Estate Investment Trusts".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $9.22B, up 5.4% from fiscal 2024.

Net income was $1.35B, a net margin of 14.6%.

At fiscal year end it had total assets of $40.14B and stockholders' equity of $14.16B (35.3% of assets).

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 11, 2026
Latest filing
10-QOct 28, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$3.61B$127M3.5%
FY2017$4.37B$233M5.3%
FY2018$5.07B$365M7.2%
FY2019$5.56B$507M9.1%
FY2020$6B$370M6.2%
FY2021$6.64B$500M7.5%
FY2022$7.26B$704M9.7%
FY2023$8.19B$969M11.8%
FY2024$8.75B$815M9.3%
FY2025$9.22B$1.35B14.6%

Gross, operating and net margin

Gross, operating and net margin, fiscal years FY2016 to FY2025.
PeriodOperating marginNet margin
FY201617.1%3.5%
FY201718.5%5.3%
FY201819.3%7.2%
FY201921.0%9.1%
FY202017.6%6.2%
FY202116.7%7.5%
FY202216.5%9.7%
FY202317.6%11.8%
FY202415.2%9.3%
FY202520.0%14.6%

Gross margin: Not meaningful for financial companies

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$1.79
FY2017$3.00
FY2018$4.56
FY2019$5.99
FY2020$4.18
FY2021$5.53
FY2022$7.67
FY2023$10.31
FY2024$8.50
FY2025$13.76

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY201670.8M
FY201777.5M
FY201880.2M
FY201984.7M
FY202088.4M
FY202190.4M
FY202291.8M
FY202394M
FY202495.8M
FY202598.1M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalents
FY2016$748M
FY2017$1.41B
FY2018$606M
FY2019$1.87B
FY2020$1.6B
FY2021$1.54B
FY2022$1.91B
FY2023$2.1B
FY2024$3.08B
FY2025$1.73B

Total debt: Not meaningful for financial companies

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Gross marginNot meaningful for financial companies
—
Operating margin
20.0%
Net margin
14.6%
Return on equity
9.8%
Return on assets
3.6%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 5.36%up 8.27%——
EPS (diluted)up 61.88%up 21.51%up 26.91%up 25.43%
Free cash flow————
Change in share count
+2.40%

Financial strength

Current ratioNot meaningful for financial companies
—
Debt / equityNot meaningful for financial companies
—
Liabilities / assets
64.7%
Net debtNot meaningful for financial companies
—
Interest coverageNot meaningful for financial companies
—
Equity / assets
35.3%

Shareholder returns

Dividends per share
$18.76
Dividends paid
$1.86B
Payout ratio
137.5%
Stock comp. / revenue
5.4%

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

Not meaningful for financial companies.

Altman Z''-Score

Not meaningful for financial companies.

Screening heuristic, not a recommendation. Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue9,2178,7488,1887,2636,6365,9995,5625,0724,3683,612
YoY (Revenue)+5.36%+6.84%+12.74%+9.46%—+7.85%+9.67%+16.10%+20.94%—
Gross profit4,7094,2813,9603,5123,1632,9242,7522,4662,1751,791
Operating income1,8481,3281,4431,2011,1081,0531,170977809619
Interest expense527457402356336406480521479392
Pretax income1,5089751,124829609516693433287160
Income tax16016115512510914618567.753.945.5
Net income1,350815969704500370507365233127
YoY (Net income)+65.64%-15.91%+37.60%+40.82%+35.27%-27.13%+38.89%+56.82%+83.74%—
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
YoY (EPS (diluted))+61.88%-17.56%+34.42%+38.70%+32.30%-30.22%+31.36%+52.00%+67.60%—
Diluted shares (weighted)98.195.89491.890.488.484.780.277.570.8

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents1,7273,0812,0961,9061,5361,6051,8706061,413748
Receivables1,0019491,004855682677689630576396
Current assets5,1255,4473,5683,3052,9572,6092,8731,5162,2491,468
Goodwill5,9845,5045,7375,6545,3725,4734,7824,8364,4122,986
Total assets40,14135,08532,65130,31127,91927,00723,96620,24518,69112,608
Current liabilities3,8933,3493,1621,8381,6062,0252,1581,5151,2431,029
Short-term debt1,299—————————
Long-term debt—15,33413,84112,88111,72210,63410,4019,8918,4705,310
Total liabilities25,96321,53320,13718,80517,03716,37315,12513,02511,8428,243
Retained earnings6,0994,7493,9342,9652,2601,7601,39189025318.6
Stockholders' equity14,15613,52812,48911,50610,88210,6348,8417,2196,8504,366
Shares outstanding98.297.394.592.690.689.185.380.77971.4

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow3,9113,2493,2172,9632,5472,3101,9931,8151,4391,017
Depreciation & amortization2,0502,0091,8451,7361,6561,4231,2851,2271,042837
Stock-based compensation498462408404364295237181176156
Share repurchases—————————0
Dividends paid1,8561,6431,3741,1511,043948836739621499
Dividends per share18.7617.0414.4912.4011.4810.649.849.128.007.00
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$13.76
Revenue per share
$93.93
Book value per share
$144.27
Tangible book per share
$83.28
Cash per share
$17.60
Dividends per share
$18.76
Public floatas of Jun 30, 2025
$77.8B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-Q
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  2. 8-K
    Current report· Oct 28, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  3. 8-K
    Current report· Aug 6, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  4. 8-K
    Current report· Jul 27, 2026(SEC EDGAR)
    • 1.01Material agreement
    • 1.02Agreement terminated
    • 2.03New financial obligation
    • 9.01Financial statements and exhibits
  5. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  6. 8-K
    Current report· Jul 29, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  7. 8-K
    Current report· Jul 8, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 9.01Financial statements and exhibits
  8. 8-K
    Current report· May 13, 2026(SEC EDGAR)
    • 5.07Shareholder vote results
    • 9.01Financial statements and exhibits
  9. 8-K
    Current report· May 5, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 9.01Financial statements and exhibits
  10. 8-K
    Current report· May 7, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
All filings on SEC EDGAR
SIC 6798 · Real Estate Investment Trusts

Peers (same SIC code)

Peers (same SIC code)
TickerRevenue (FY)YoYNet marginROEF-Score5y revenue
WELLWELLTOWER INC.$10.8Bup 35.63%———
EQIXEQUINIX INC (This company)$9.22Bup 5.36%14.6%9.8%—
PLDPrologis, Inc.$8.79Bup 7.18%37.9%6.2%—
Peer median$9.81Bup 21.40%37.9%6.2%——

Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.

Frequently asked questions

What does EQUINIX INC do?

The SEC classifies EQUINIX INC under Standard Industrial Classification (SIC) code 6798, "Real Estate Investment Trusts". It is headquartered in Redwood City, CA. It is incorporated in DE. In fiscal 2025 it reported revenue of $9.22B and net income of $1.35B in its annual 10-K report.

What was EQUINIX INC's revenue in 2025?

EQUINIX INC reported revenue of $9.22B for fiscal 2025, which ended Dec 31, 2025, up 5.4% from $8.75B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 11, 2026.

What was EQUINIX INC's net income in 2025?

EQUINIX INC reported net income of $1.35B for fiscal 2025, a net margin of 14.6% of revenue.

Where is EQUINIX INC listed?

According to the SEC, EQUINIX INC's ticker EQIX is listed on Nasdaq.

When does EQUINIX INC's fiscal year end?

According to the SEC, EQUINIX INC's fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.