What is Equinix Inc's earnings per share (EPS)?

Equinix Inc (EQIX) reported diluted earnings per share of $13.76 for fiscal year 2025. This represents a 61.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Equinix Inc Financials

EQIX

FY2025 annual

Revenue $9.2B +5.4% YoY

Net Income $1.4B +65.6% YoY

EPS (Diluted) $13.76 +61.9% YoY

Free Cash Flow -$400.0M -318.6% YoY

Market Cap $101.4B as of Sep 2, 2026

Price / Sales 10.3x on $9.8B revenue, trailing 12 months to June 30, 2026

Price / Earnings 66.1x on $1.5B net income, trailing 12 months to June 30, 2026

Price / Book 7.1x on $14.4B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 29, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EQIX SEC filings page.

Equinix Inc (EQIX) reported $9.2B in revenue for fiscal year 2025, up 5.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI EQIX FY2025 2026-08-29

Infrastructure reinvestment is turning stronger reported earnings into uneven free cash flow while leverage rises.

In FY2025, operating cash flow rose to $3.9B while capital expenditures reached $4.3B, so cash conversion turned negative even as reported profitability improved. The reversal from FY2024’s positive $183M free cash flow indicates that expansion absorbed internally generated cash rather than leaving cash after reinvestment.

FY2025 paired a gross margin of 51.1% with a operating margin of 20.1%. Operating margin had fallen to 15.2% in FY2024, so the rebound was broader than a one-line cost story because gross margin rose too.

Debt-to-equity rose from 1.1x in FY2024 to 1.8x in FY2025 as total liabilities expanded, indicating that asset growth was increasingly supported by obligations rather than equity alone. The current ratio also fell to 1.3x, so the simultaneous capex surge and weaker free cash flow leave less room for expansion to self-fund from operations.

Financial Health Signals

Financial Health Score 48/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Equinix Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Equinix Inc scores 60/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Equinix Inc scores 60/100 on it among other REITs.

Leverage

Not available for Equinix Inc, and counted as zero in the overall score.

Interest Cov.

Equinix Inc's operating income of $1.8B covered its interest expense of $527.0M 3.51 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Equinix Inc scores 84/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Equinix Inc scores 19/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Equinix Inc scores 67/100 on it among other REITs.

Altman Z-Score Grey Zone

2.97

Equinix Inc scores 2.97, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($101.4B) relative to total liabilities ($26.0B). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

5/8

Equinix Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

2.90x

For every $1 of reported earnings, Equinix Inc generates $2.90 in operating cash flow ($3.9B OCF vs $1.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.51x

Equinix Inc earns $3.51 in operating income for every $1 of interest expense ($1.8B vs $527.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.6B

YoY+16.4%

QoQ+7.4%

5Y CAGR+9.6%

10Y CAGR+11.3%

Equinix Inc generated $2.6B in revenue in Q2 2026. This represents an increase of 16.4% from the same quarter a year earlier. Against the prior quarter it is up 7.4%.

EBITDA

$1.2B

YoY+22.5%

QoQ+8.8%

5Y CAGR+11.8%

Equinix Inc's EBITDA was $1.2B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 22.5% from the same quarter a year earlier. Against the prior quarter it is up 8.8%.

Net Income

$479.0M

YoY+30.2%

QoQ+15.4%

5Y CAGR+47.6%

10Y CAGR+26.8%

Equinix Inc reported $479.0M in net income in Q2 2026. This represents an increase of 30.2% from the same quarter a year earlier. Against the prior quarter it is up 15.4%.

EPS (Diluted)

$4.83

YoY+28.8%

QoQ+15.0%

5Y CAGR+44.8%

10Y CAGR+22.4%

Equinix Inc earned $4.83 per diluted share (EPS) in Q2 2026. This represents an increase of 28.8% from the same quarter a year earlier. Against the prior quarter it is up 15.0%.

Cash & Balance Sheet

Cash & Debt

$979.0M

YoY-73.3%

QoQ-28.1%

5Y CAGR-11.5%

10Y CAGR+7.3%

Equinix Inc held $979.0M in cash against $19.9B in long-term debt as of Q2 2026.

Dividends Per Share

$5.16

YoY+10.0%

QoQ0.0%

5Y CAGR+12.4%

10Y CAGR+11.4%

Equinix Inc paid $5.16 per share in dividends in Q2 2026. This represents an increase of 10.0% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

99M

YoY+0.8%

QoQ0.0%

5Y CAGR+1.9%

10Y CAGR+3.3%

Equinix Inc had 99M shares outstanding in Q2 2026. This represents an increase of 0.8% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Gross Margin

53.1%

YoY+1.2pp

QoQ+1.7pp

5Y CAGR+5.3pp

10Y CAGR+3.9pp

Equinix Inc's gross margin was 53.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.7 percentage points.

Operating Margin

25.3%

YoY+3.4pp

QoQ+1.7pp

5Y CAGR+8.5pp

Equinix Inc's operating margin was 25.3% in Q2 2026, reflecting core business profitability. This is up 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.7 percentage points.

Net Margin

18.3%

YoY+1.9pp

QoQ+1.3pp

5Y CAGR+14.1pp

10Y CAGR+13.3pp

Equinix Inc's net profit margin was 18.3% in Q2 2026, showing the share of revenue converted to profit. This is up 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.

Return on Equity

3.3%

YoY+0.7pp

QoQ+0.4pp

5Y CAGR+2.7pp

10Y CAGR+2.4pp

Equinix Inc's ROE was 3.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Capital Allocation

None of these metrics is reported for Q2 2026.

EQIX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EQIX quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$9.8B	$9.2B+5.4%	$8.7B+6.8%	$8.2B+12.7%	$7.3B+9.5%	$6.6B+10.6%	$6.0B+7.8%	$5.6B+9.7%	$5.1B+16.1%	$4.4B+20.9%	$3.6B+32.5%	$2.7B+11.5%	$2.4B+13.5%	$2.2B+14.1%	$1.9B+20.6%	$1.6B
Cost of Revenue	$4.8B	$4.5B+0.9%	$4.5B+5.7%	$4.2B+12.7%	$3.8B+8.0%	$3.5B+12.9%	$3.1B+9.4%	$2.8B+7.9%	$2.6B+18.8%	$2.2B+20.4%	$1.8B+41.0%	$1.3B+7.8%	$1.2B+12.5%	$1.1B+12.7%	$944.6M+13.9%	$829.0M
Gross Profit	$5.0B	$4.7B+10.0%	$4.3B+8.1%	$4.0B+12.8%	$3.5B+11.0%	$3.2B+8.2%	$2.9B+6.3%	$2.8B+11.6%	$2.5B+13.4%	$2.2B+21.4%	$1.8B+24.9%	$1.4B+15.1%	$1.2B+14.5%	$1.1B+15.4%	$942.8M+28.0%	$736.6M
SG&A Expenses	$1.9B	$1.8B+4.2%	$1.8B+6.8%	$1.7B+10.3%	$1.5B+15.1%	$1.3B+19.3%	$1.1B+16.7%	$935.0M+13.1%	$826.7M+10.8%	$745.9M+7.4%	$694.6M+40.8%	$493.3M+12.6%	$438.0M+16.9%	$374.8M+14.2%	$328.3M+23.6%	$265.6M
Operating Income	$2.1B	$1.8B+39.2%	$1.3B-8.0%	$1.4B+20.3%	$1.2B+8.3%	$1.1B+5.2%	$1.1B-10.0%	$1.2B+19.7%	$977.4M+20.8%	$809.0M+30.8%	$618.7M+9.1%	$567.3M+11.4%	$509.3M+10.5%	$460.9M+17.3%	$392.9M+28.4%	$305.9M
EBITDA	N/A	$3.9B+16.8%	$3.3B+1.5%	$3.3B+12.0%	$2.9B+6.2%	$2.8B+11.6%	$2.5B+0.9%	$2.5B+11.3%	$2.2B+19.1%	$1.9B+27.2%	$1.5B+33.2%	$1.1B+10.3%	$991.0M+10.9%	$893.7M+14.0%	$783.6M+22.5%	$639.7M
Interest Expense	$569.0M	$527.0M+15.3%	$457.0M+13.7%	$402.0M+12.8%	$356.3M+6.0%	$336.1M-17.3%	$406.5M-15.3%	$479.7M-8.0%	$521.5M+8.9%	$478.7M+22.1%	$392.2M+31.1%	$299.1M+10.5%	$270.6M+8.7%	$248.8M+24.2%	$200.3M+10.5%	$181.3M
Income Tax	$175.0M	$160.0M-0.6%	$161.0M+3.9%	$155.0M+25.0%	$124.0M+13.5%	$109.2M-25.3%	$146.2M-21.1%	$185.4M+173.9%	$67.7M+25.7%	$53.9M+18.5%	$45.5M+95.7%	$23.2M-93.3%	$345.5M+2038.3%	$16.2M-72.4%	$58.6M+56.8%	$37.3M
Net Income	$1.5B	$1.4B+65.6%	$815.0M-15.9%	$969.0M+37.4%	$705.0M+40.9%	$500.2M+35.3%	$369.8M-27.1%	$507.4M+38.9%	$365.4M+56.8%	$233.0M+83.7%	$126.8M-32.5%	$187.8M+172.3%	-$259.5M-374.1%	$94.7M-32.4%	$140.0M+47.7%	$94.8M
EPS (Basic)	N/A	$13.79+61.5%	$8.54-17.5%	$10.35+34.6%	$7.69+38.1%	$5.57+32.0%	$4.22-30.0%	$6.03+31.7%	$4.58+51.2%	$3.03+67.4%	$1.81-44.3%	$3.25+165.5%	-$4.96-358.3%	$1.92-34.2%	$2.92+65.0%	$1.77
EPS (Diluted)	$15.53	$13.76+61.9%	$8.50-17.6%	$10.31+34.4%	$7.67+38.7%	$5.53+32.3%	$4.18-30.2%	$5.99+31.4%	$4.56+52.0%	$3.00+67.6%	$1.79-44.2%	$3.21+164.7%	-$4.96-362.4%	$1.89-33.2%	$2.83+62.6%	$1.74
Diluted Shares (Avg)	N/A	98M+2.4%	96M+1.9%	94M+2.4%	92M+1.6%	90M+2.3%	88M+4.4%	85M+5.6%	80M+3.4%	78M+9.5%	71M+21.1%	58M+11.7%	52M+4.5%	50M-3.3%	52M+8.2%	48M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$2.6B+16.4%	$2.4B+9.8%	$2.4B+7.0%	$2.3B+5.2%	$2.3B+4.5%	$2.2B+4.6%	$2.3B+20.1%	$2.2B+6.8%
Cost of Revenue	$1.2B+13.5%	$1.2B+9.4%	$1.2B+0.2%	$1.1B+4.0%	$1.1B+0.2%	$1.1B-0.6%	$1.2B+9.5%	$1.1B+2.7%
Gross Profit	$1.4B+19.0%	$1.3B+10.3%	$1.2B+14.7%	$1.2B+6.4%	$1.2B+8.8%	$1.1B+10.1%	$1.1B+34.6%	$1.1B+11.2%
SG&A Expenses	$462.0M+2.4%	$444.0M+1.4%	$481.0M+6.7%	$470.0M+8.3%	$451.0M+3.2%	$438.0M-1.4%	$451.0M+0.4%	$434.0M+7.4%
Operating Income	$665.0M+34.6%	$577.0M+26.0%	$422.0M+309.7%	$474.0M+11.5%	$494.0M+13.3%	$458.0M+25.8%	$103.0M-70.2%	$425.0M+11.5%
EBITDA	$1.2B+22.5%	$1.1B+19.3%	$964.0M+60.4%	$1.0B+9.0%	$993.0M+7.4%	$937.0M+5.3%	$601.0M-25.7%	$921.0M+9.1%
Interest Expense	$151.0M+11.9%	$148.0M+21.3%	$142.0M+12.7%	$128.0M+9.4%	$135.0M+22.7%	$122.0M+17.3%	$126.0M+21.5%	$117.0M+15.4%
Income Tax	$46.0M+21.1%	$56.0M+14.3%	$48.0M+242.9%	$25.0M-53.7%	$38.0M-19.1%	$49.0M+6.5%	$14.0M-67.4%	$54.0M+170.0%
Net Income	$479.0M+30.2%	$415.0M+21.0%	$265.0M+1992.9%	$374.0M+25.9%	$368.0M+22.3%	$343.0M+48.5%	-$14.0M-106.2%	$297.0M+7.6%
EPS (Basic)	$4.86+29.3%	$4.22+19.9%	$2.69+1515.8%	$3.82+22.8%	$3.76+18.6%	$3.52+44.3%	-$0.19-107.9%	$3.11+5.8%
EPS (Diluted)	$4.83+28.8%	$4.20+20.0%	$2.69+1515.8%	$3.81+22.9%	$3.75+18.7%	$3.50+44.0%	-$0.19-107.9%	$3.10+5.8%
Diluted Shares (Avg)	99M+1.1%	99M+0.9%	N/A	98M+2.6%	98M+3.0%	98M+2.9%	N/A	96M+1.7%

Not reported in any period shown, so not listed: R&D Expenses.

EQIX Balance Sheet

EQIX quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$40.1B+14.4%	$35.1B+7.5%	$32.7B+7.7%	$30.3B+8.6%	$27.9B+3.4%	$27.0B+12.7%	$24.0B+18.4%	$20.2B+8.3%	$18.7B+48.2%	$12.6B+21.7%	$10.4B+33.1%	$7.8B+3.9%	$7.5B+22.1%	$6.1B+6.1%	$5.8B
Current Assets	$5.1B-5.9%	$5.4B+52.7%	$3.6B+7.9%	$3.3B+11.8%	$3.0B+13.3%	$2.6B-9.2%	$2.9B+89.5%	$1.5B-32.6%	$2.2B+53.3%	$1.5B-55.0%	$3.3B+118.6%	$1.5B+67.8%	$888.7M+38.8%	$640.1M-48.2%	$1.2B
Cash & Equivalents	$1.7B-43.9%	$3.1B+47.0%	$2.1B+10.0%	$1.9B+24.1%	$1.5B-4.3%	$1.6B-14.2%	$1.9B+208.4%	$606.2M-57.1%	$1.4B+88.7%	$748.5M-66.4%	$2.2B+264.8%	$610.9M+133.3%	$261.9M+3.8%	$252.2M-9.5%	$278.8M
Short-Term Investments	$1.5B+184.6%	$527.0M	$0	$0	$0-100.0%	$4.5M-56.3%	$10.4M+128.2%	$4.5M-83.9%	$28.3M+729.3%	$3.4M-73.5%	$12.9M-97.6%	$529.4M+43.2%	$369.8M+122.1%	$166.5M-73.8%	$635.7M
Accounts Receivable	$1.0B+5.5%	$949.0M-5.5%	$1.0B+17.4%	$855.0M+25.4%	$681.8M+0.7%	$676.7M-1.8%	$689.1M+9.4%	$630.1M+9.3%	$576.3M+45.4%	$396.2M+35.7%	$292.0M+11.2%	$262.6M+42.1%	$184.8M+12.8%	$163.8M+17.8%	$139.1M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$9.2M-8.0%	$10.0M+119.1%	$4.6M+944.2%	$439K-99.9%	$398.4M+211.7%	$127.8M-21.0%	$161.8M
Goodwill	$6.0B+8.7%	$5.5B-4.1%	$5.7B+1.5%	$5.7B+5.2%	$5.4B-1.8%	$5.5B+14.4%	$4.8B-1.1%	$4.8B+9.6%	$4.4B+47.7%	$3.0B+180.9%	$1.1B+6.1%	$1.0B-3.8%	$1.0B0.0%	$1.0B+20.3%	$866.5M
Total Liabilities	$26.0B+20.6%	$21.5B+6.9%	$20.1B+7.1%	$18.8B+10.4%	$17.0B+4.1%	$16.4B+8.2%	$15.1B+16.1%	$13.0B+10.0%	$11.8B+43.7%	$8.2B+8.3%	$7.6B+38.1%	$5.5B+12.3%	$4.9B+31.3%	$3.7B-0.7%	$3.8B
Current Liabilities	$3.9B+16.2%	$3.3B+5.9%	$3.2B+72.0%	$1.8B+14.5%	$1.6B-20.7%	$2.0B-6.2%	$2.2B+42.4%	$1.5B+21.9%	$1.2B+20.8%	$1.0B-37.9%	$1.7B+157.3%	$643.8M+17.8%	$546.5M-0.5%	$549.1M-24.3%	$725.3M
Non-Current Liabilities	$22.1B+21.4%	$18.2B+7.1%	$17.0B0.0%	$17.0B+10.0%	$15.4B+7.5%	$14.3B+10.6%	$13.0B+12.7%	$11.5B+8.6%	$10.6B+46.9%	$7.2B+21.1%	$6.0B+22.3%	$4.9B+11.6%	$4.4B+36.8%	$3.2B+4.9%	$3.0B
Long-Term Debt	N/A	$15.3B+10.8%	$13.8B+7.5%	$12.9B+9.9%	$11.7B+10.2%	$10.6B+2.2%	$10.4B+5.2%	$9.9B+16.8%	$8.5B+59.5%	$5.3B+1.2%	$5.2B+49.7%	$3.5B+7.0%	$3.3B+33.6%	$2.4B-9.2%	$2.7B
Total Equity	$14.2B+4.6%	$13.5B+8.3%	$12.5B+8.5%	$11.5B+5.7%	$10.9B+2.3%	$10.6B+20.3%	$8.8B+22.5%	$7.2B+5.4%	$6.8B+56.9%	$4.4B+59.0%	$2.7B+20.9%	$2.3B-7.7%	$2.5B+6.3%	$2.3B+19.5%	$1.9B
Retained Earnings	$6.1B+28.4%	$4.7B+20.7%	$3.9B+32.7%	$3.0B+31.2%	$2.3B+28.4%	$1.8B+26.5%	$1.4B+56.3%	$889.9M+252.2%	$252.7M+1259.7%	$18.6M+117.2%	-$108.2M+63.4%	-$296.0M-712.2%	-$36.4M+72.2%	-$131.1M+51.6%	-$271.2M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$41.1B+5.7%	$40.9B+13.4%	$40.1B+14.4%	$38.1B+7.4%	$38.8B+18.2%	$36.1B+13.0%	$35.1B+7.5%	$35.4B+11.8%
Current Assets	$4.3B-34.0%	$5.3B-2.9%	$5.1B-5.9%	$5.0B-1.8%	$6.5B+75.7%	$5.5B+73.8%	$5.4B+52.7%	$5.1B+30.1%
Cash & Equivalents	$979.0M-73.3%	$1.4B-53.8%	$1.7B-43.9%	$2.1B-25.2%	$3.7B+83.6%	$3.0B+93.2%	$3.1B+47.0%	$2.8B+17.8%
Short-Term Investments	$1.2B+42.8%	$1.7B+134.0%	$1.5B+184.6%	$854.0M+89.4%	$872.0M	$723.0M	$527.0M	$451.0M
Accounts Receivable	$1.3B+10.5%	$1.1B+1.7%	$1.0B+5.5%	$1.1B+1.9%	$1.1B+1.2%	$1.1B+0.9%	$949.0M-5.5%	$1.1B+9.0%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$5.9B-1.2%	$5.9B+5.3%	$6.0B+8.7%	$5.9B+3.1%	$6.0B+6.4%	$5.6B+0.2%	$5.5B-4.1%	$5.8B+3.2%
Total Liabilities	$26.7B+7.8%	$26.6B+19.9%	$26.0B+20.6%	$23.9B+9.4%	$24.7B+20.4%	$22.2B+13.0%	$21.5B+6.9%	$21.8B+10.4%
Current Liabilities	$3.8B-9.9%	$4.5B+36.4%	$3.9B+16.2%	$3.1B-29.8%	$4.2B+38.2%	$3.3B+15.1%	$3.3B+5.9%	$4.4B+130.8%
Non-Current Liabilities	$22.9B+11.5%	$22.0B+17.0%	$22.1B+21.4%	$20.8B+19.2%	$20.5B+17.3%	$18.8B+12.7%	$18.2B+7.1%	$17.5B-2.4%
Long-Term Debt	$19.9B+10.0%	$19.8B+24.5%	N/A	$17.3B+12.6%	$18.1B+25.0%	$15.9B+15.6%	$15.3B+10.8%	$15.4B+12.3%
Total Equity	$14.4B+2.1%	$14.3B+2.9%	$14.2B+4.6%	$14.2B+4.2%	$14.1B+14.7%	$13.9B+12.9%	$13.5B+8.3%	$13.6B+14.3%
Retained Earnings	$7.0B+28.1%	$6.5B+27.9%	$6.1B+28.4%	$5.8B+22.5%	$5.5B+22.3%	$5.1B+22.3%	$4.7B+20.7%	$4.8B+28.5%

Not reported in any period shown, so not listed: Inventory.

EQIX Cash Flow Statement

EQIX quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$3.9B	$3.9B+20.4%	$3.2B+1.0%	$3.2B+8.6%	$3.0B+16.3%	$2.5B+10.3%	$2.3B+15.9%	$2.0B+9.8%	$1.8B+26.1%	$1.4B+41.2%	$1.0B+13.9%	$894.8M+26.2%	$709.0M+17.3%	$604.6M-4.3%	$632.0M+7.6%	$587.3M
Depreciation & Amortization	N/A	$2.0B+2.0%	$2.0B+8.9%	$1.8B+6.2%	$1.7B+4.9%	$1.7B+16.4%	$1.4B+10.8%	$1.3B+4.7%	$1.2B+17.7%	$1.0B+24.5%	$837.2M+59.3%	$525.6M+9.1%	$481.7M+11.3%	$432.7M+10.8%	$390.7M+17.1%	$333.7M
Stock-Based Compensation	N/A	$498.0M+7.8%	$462.0M+13.5%	$407.0M+0.7%	$404.0M+11.1%	$363.8M+23.3%	$295.0M+24.7%	$236.5M+30.9%	$180.7M+3.0%	$175.5M+12.8%	$155.6M+17.5%	$132.4M+12.2%	$118.0M+14.6%	$102.9M+24.0%	$83.0M+16.1%	$71.5M
Capital Expenditures	N/A	$4.3B+40.6%	$3.1B+10.2%	$2.8B+22.1%	$2.3B-17.2%	$2.8B+20.5%	$2.3B+9.8%	$2.1B-0.8%	$2.1B+52.0%	$1.4B+23.8%	$1.1B+28.3%	$868.1M+31.5%	$660.2M+15.3%	$572.4M-47.9%	$1.1B+3814.5%	$28.1M
Free Cash Flow	N/A	-$400.0M-318.6%	$183.0M-58.0%	$436.0M-36.4%	$685.0M+435.3%	-$204.3M-847.8%	$27.3M+131.5%	-$86.8M+69.1%	-$280.7M-564.0%	$60.5M+164.4%	-$94.0M-452.1%	$26.7M-45.3%	$48.8M+51.5%	$32.2M+106.9%	-$466.6M-183.4%	$559.3M
Investing Cash Flow	-$6.7B	-$6.5B-64.7%	-$3.9B-22.1%	-$3.2B+4.1%	-$3.4B-11.8%	-$3.0B+12.3%	-$3.4B-76.2%	-$1.9B+36.8%	-$3.1B+43.1%	-$5.4B-164.0%	-$2.0B-220.7%	-$637.8M-45.8%	-$437.4M+62.6%	-$1.2B-164.0%	-$442.9M+70.5%	-$1.5B
Financing Cash Flow	$60.0M	$1.3B-26.2%	$1.7B+716.6%	$211.0M-75.4%	$857.0M+107.1%	$413.8M-49.3%	$815.5M-32.2%	$1.2B+155.3%	$470.9M-89.8%	$4.6B+613.7%	-$897.1M-147.9%	$1.9B+2033.0%	$87.8M-84.7%	$574.9M+358.1%	-$222.7M-129.7%	$748.7M
Dividends Paid	$2.0B	$1.9B+13.0%	$1.6B+19.5%	$1.4B+19.4%	$1.2B+10.5%	$1.0B+10.0%	$947.9M+13.4%	$836.2M+13.2%	$738.6M+18.8%	$621.5M+24.4%	$499.5M-4.2%	$521.5M+526.3%	$83.3M	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$298.0M+510.6%	$48.8M+265.2%	$13.4M-84.6%	$86.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.1B+13.0%	$717.0M-11.4%	$1.1B+16.6%	$1.0B+33.8%	$944.0M+3.5%	$809.0M+35.3%	$981.0M-1.8%	$758.0M-3.4%
Depreciation & Amortization	$551.0M+10.4%	$541.0M+12.9%	$542.0M+8.8%	$530.0M+6.9%	$499.0M+2.0%	$479.0M-8.9%	$498.0M+7.6%	$496.0M+7.1%
Stock-Based Compensation	$145.0M+14.2%	$128.0M+13.3%	N/A	$130.0M+6.6%	$127.0M+1.6%	$113.0M+11.9%	N/A	$122.0M+24.5%
Capital Expenditures	N/A	$1.3B+67.5%	$1.4B+45.5%	$1.1B+56.9%	$989.0M+52.6%	$750.0M+6.1%	$987.0M-0.9%	$724.0M+17.3%
Free Cash Flow	N/A	-$539.0M-1013.6%	-$292.0M-4766.7%	-$122.0M-458.8%	-$45.0M-117.0%	$59.0M+154.1%	-$6.0M-300.0%	$34.0M-79.8%
Investing Cash Flow	-$1.1B+22.5%	-$1.5B-51.3%	-$2.7B-143.9%	-$1.4B-0.4%	-$1.4B-96.2%	-$964.0M-32.6%	-$1.1B+13.3%	-$1.4B-81.5%
Financing Cash Flow	-$355.0M-129.8%	$349.0M+2226.7%	$1.2B+156.3%	-$1.2B-186.0%	$1.2B+305.1%	$15.0M+103.8%	$478.0M+2272.7%	$1.3B+7388.9%
Dividends Paid	$510.0M+10.9%	$519.0M+10.9%	$461.0M+11.6%	$467.0M+13.1%	$460.0M+13.6%	$468.0M+13.6%	$413.0M+2.5%	$413.0M+27.1%

Not reported in any period shown, so not listed: Share Buybacks.

EQIX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EQIX quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	51.1%+2.2pp	48.9%+0.6pp	48.4%0.0pp	48.4%+0.7pp	47.7%-1.1pp	48.8%-0.7pp	49.5%+0.9pp	48.6%-1.2pp	49.8%+0.2pp	49.6%-3.0pp	52.6%+1.6pp	51.0%+0.4pp	50.6%+0.6pp	50.0%+2.9pp	47.0%
Operating Margin	20.1%+4.9pp	15.2%-2.4pp	17.6%+1.1pp	16.5%-0.2pp	16.7%-0.8pp	17.5%-3.5pp	21.0%+1.8pp	19.3%+0.8pp	18.5%+1.4pp	17.1%-3.7pp	20.8%0.0pp	20.8%-0.6pp	21.4%+0.6pp	20.8%+1.3pp	19.5%
Net Margin	14.6%+5.3pp	9.3%-2.5pp	11.8%+2.1pp	9.7%+2.2pp	7.5%+1.4pp	6.2%-3.0pp	9.1%+1.9pp	7.2%+1.9pp	5.3%+1.8pp	3.5%-3.4pp	6.9%+17.5pp	-10.6%-15.0pp	4.4%-3.0pp	7.4%+1.4pp	6.0%
Return on Equity	9.5%+3.5pp	6.0%-1.7pp	7.8%+1.6pp	6.1%+1.5pp	4.6%+1.1pp	3.5%-2.3pp	5.7%+0.7pp	5.1%+1.7pp	3.4%+0.5pp	2.9%-3.9pp	6.8%+18.3pp	-11.4%-15.3pp	3.9%-2.2pp	6.0%+1.1pp	4.9%
Return on Assets	3.4%+1.0pp	2.3%-0.7pp	3.0%+0.6pp	2.3%+0.5pp	1.8%+0.4pp	1.4%-0.8pp	2.1%+0.3pp	1.8%+0.5pp	1.3%+0.2pp	1.0%-0.8pp	1.8%+5.2pp	-3.3%-4.6pp	1.3%-1.0pp	2.3%+0.6pp	1.6%
Current Ratio	1.32-0.3x	1.63+0.5x	1.13-0.7x	1.800.0x	1.84+0.6x	1.290.0x	1.33+0.3x	1.00-0.8x	1.81+0.4x	1.43-0.5x	1.97-0.3x	2.32+0.7x	1.63+0.5x	1.17-0.5x	1.70
Debt-to-Equity	1.83+0.7x	1.130.0x	1.110.0x	1.120.0x	1.08+0.1x	1.00-0.2x	1.18-0.2x	1.37+0.1x	1.240.0x	1.22-0.7x	1.91+0.4x	1.54+0.2x	1.33+0.3x	1.06-0.3x	1.39
Asset Turnover	0.230.0x	0.250.0x	0.250.0x	0.240.0x	0.240.0x	0.220.0x	0.230.0x	0.250.0x	0.23-0.1x	0.290.0x	0.26-0.1x	0.310.0x	0.290.0x	0.310.0x	0.27
FCF Margin	-4.3%-6.4pp	2.1%-3.2pp	5.3%-4.1pp	9.4%+12.5pp	-3.1%-3.5pp	0.5%+2.0pp	-1.6%+4.0pp	-5.5%-6.9pp	1.4%+4.0pp	-2.6%-3.6pp	1.0%-1.0pp	2.0%+0.5pp	1.5%+26.2pp	-24.7%-60.4pp	35.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	53.1%+1.2pp	51.5%+0.2pp	50.5%+3.4pp	50.7%+0.6pp	51.9%+2.1pp	51.3%+2.6pp	47.1%+5.1pp	50.1%+2.0pp
Operating Margin	25.3%+3.4pp	23.6%+3.0pp	17.4%+12.9pp	20.5%+1.2pp	21.9%+1.7pp	20.6%+3.5pp	4.6%-13.8pp	19.3%+0.8pp
Net Margin	18.3%+1.9pp	17.0%+1.6pp	10.9%+11.6pp	16.2%+2.7pp	16.3%+2.4pp	15.4%+4.6pp	-0.6%-12.7pp	13.5%+0.1pp
Return on Equity	3.3%+0.7pp	2.9%+0.4pp	1.9%+2.0pp	2.6%+0.5pp	2.6%+0.2pp	2.5%+0.6pp	-0.1%-1.9pp	2.2%-0.1pp
Return on Assets	1.2%+0.2pp	1.0%+0.1pp	0.7%+0.7pp	1.0%+0.1pp	0.9%0.0pp	0.9%+0.2pp	0.0%-0.7pp	0.8%0.0pp
Current Ratio	1.13-0.4x	1.18-0.5x	1.32-0.3x	1.62+0.5x	1.54+0.3x	1.65+0.6x	1.63+0.5x	1.16-0.9x
Debt-to-Equity	1.38+0.1x	1.38+0.2x	1.83+0.7x	1.22+0.1x	1.28+0.1x	1.140.0x	1.130.0x	1.130.0x
Asset Turnover	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x
FCF Margin	N/A	-22.1%-24.7pp	-12.1%-11.8pp	-5.3%-6.8pp	-2.0%-14.2pp	2.6%+7.8pp	-0.3%-0.4pp	1.5%-6.6pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Equinix Inc EQIX	FY2025	$9.2B	$1.4B	14.6%	$101.4B	48/100
Digital Rlty Tr Inc DLR	FY2025	$6.1B	$1.3B	21.5%	$68.9B	58/100
American Tower Corp AMT	FY2025	$10.6B	$2.6B	24.7%	$81.9B	63/100
Crown Castle CCI	FY2025	$4.3B	$444.0M	10.4%	$32.4B	27/100
Iron Mountain IRM	FY2025	$6.9B	$152.3M	2.2%	$34.3B	40/100
Sba Communications Corp SBAC	FY2025	$2.8B	$1.1B	37.4%	$20.1B	52/100

Where Equinix Inc Ranks

Frequently Asked Questions

What is Equinix Inc's annual revenue?

Equinix Inc (EQIX) reported $9.2B in total revenue for fiscal year 2025. This represents a 5.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Equinix Inc's revenue growing?

Equinix Inc (EQIX) revenue grew by 5.4% year-over-year, from $8.7B to $9.2B in fiscal year 2025.

Is Equinix Inc profitable?

Yes, Equinix Inc (EQIX) reported a net income of $1.4B in fiscal year 2025, with a net profit margin of 14.6%.

What is Equinix Inc's EBITDA?

Equinix Inc (EQIX) had EBITDA of $3.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Equinix Inc's gross margin?

Equinix Inc (EQIX) had a gross margin of 51.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Equinix Inc's operating margin?

Equinix Inc (EQIX) had an operating margin of 20.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Equinix Inc's net profit margin?

Equinix Inc (EQIX) had a net profit margin of 14.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Equinix Inc pay dividends?

Yes, Equinix Inc (EQIX) paid $18.76 per share in dividends during fiscal year 2025.

What is Equinix Inc's return on equity (ROE)?

Equinix Inc (EQIX) has a return on equity of 9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Equinix Inc's free cash flow?

Equinix Inc (EQIX) recorded an outflow of $400.0M in free cash flow during fiscal year 2025. This represents a -318.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Equinix Inc's operating cash flow?

Equinix Inc (EQIX) generated $3.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Equinix Inc's total assets?

Equinix Inc (EQIX) had $40.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Equinix Inc's capital expenditures?

Equinix Inc (EQIX) invested $4.3B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Equinix Inc have outstanding?

Equinix Inc (EQIX) had 98M shares outstanding as of fiscal year 2025.

What is Equinix Inc's current ratio?

Equinix Inc (EQIX) had a current ratio of 1.32 as of fiscal year 2025, which is considered adequate.

What is Equinix Inc's debt-to-equity ratio?

Equinix Inc (EQIX) had a debt-to-equity ratio of 1.83 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Equinix Inc's return on assets (ROA)?

Equinix Inc (EQIX) had a return on assets of 3.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Equinix Inc's P/E ratio?

Equinix Inc (EQIX) trades at 66.1x earnings, its market capitalization divided by net income of $1.5B net income, trailing 12 months to June 30, 2026. The market capitalization is $101.4B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Equinix Inc's price-to-sales ratio?

Equinix Inc (EQIX) trades at 10.3x sales, its market capitalization divided by revenue of $9.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $101.4B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Equinix Inc's Altman Z-Score?

Equinix Inc (EQIX) has an Altman Z-Score of 2.97, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Equinix Inc's Piotroski F-Score?

Equinix Inc (EQIX) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Equinix Inc's earnings high quality?

Equinix Inc (EQIX) has an earnings quality ratio of 2.90x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Equinix Inc cover its interest payments?

Equinix Inc (EQIX) has an interest coverage ratio of 3.51x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Equinix Inc?

Equinix Inc (EQIX) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.