Equinix Inc

Real Estate
Real Estate Investment Trusts
www.equinix.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $85.46B
PE 92
Debt $15.89B
Cash $2.96B
EV $98.39B
FCF $351.00M

Earnings

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Sales & Net Margins

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Earnings	$926.00M
EBIT	$1.42B
ROE	7%
ROA	4%
FCF	$351.00M
Equity	$13.89B
Growth Stability	100%
PE	92.29
PEG	3.62
PB	6.15
P/FCF	243.48
P/S	9.66
Price/Cash	0.03
Debt/Equity	1.14
Debt/FCF	45.28
Net Margins	15%
Gross Margins	50%
Op. Margins	16%
Earnings CAGR	27%
Sales Growth YoY	5%
Sales Growth QoQ	-2%
Sales CAGR	11%
FCF CAGR	7%
Equity CAGR	16%
Earnings Stability	0.83
Earnings Growth YoY	48%
Earnings Growth QoQ	-3K%
Earnings CAGR 5Y	26%

Sales CAGR 5Y	10%
FCF CAGR 5Y	20%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	10%
Sales CAGR 3Y	10%
FCF CAGR 3Y	-38%
Equity CAGR 3Y	9%
Market Cap	$85.46B
Revenue	$8.85B
Dividend Yield	2%
Payout Ratio	183%
Assets	$36.08B
Total Debt	$15.89B
Cash	$2.96B
Shares Outstanding	97.44M
EV	98.39B
Earnings Score	94%
Moat Score	71%
Safety Score	70%
Final Score	79%
Working Capital	2.18B
Current Ratio	1.65
Gross Profit	$4.39B
Shares Growth 3y	2%
Equity Growth QoQ	3%
Equity Growth YoY	13%

Assets & ROA

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Stockholders Equity & ROE

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Equinix is a retail provider of data centers, enabling hundreds of enterprise tenants to house their servers and networking equipment in a colocated environment. Tenants can then connect with each other, cloud service providers, and telecom networks. Equinix operates 240 data centers in 66 markets worldwide and owns just less than half of them. The firm has roughly 10,000 customers, including 2,000 networks, that are dispersed over five verticals: Cloud and IT Services, Content Providers, Network and Mobile Services, Financial Services, and Enterprise. About 70% of Equinix's revenue comes from renting space to tenants and related services, and more than 15% comes from connecting customers with each other. Equinix operates as a real estate investment trust.

SEC Filings

Direct access to Equinix Inc (EQIX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Equinix Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Equinix Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 27%

Stability 83%

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Equinix Inc Discounted Cash Flow

Fully customizable DCF calculator online for Equinix Inc.

Years

Calculation mode

= $5.5B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$351M	$374M	$398M	$425M	$452M	$482M	$513M	$547M	$583M	$621M	$662M	$6.6B
DCF		$340M	$329M	$319M	$309M	$299M	$290M	$281M	$272M	$263M	$255M	$2.6B
Value	$5.5B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	7%	4%	5%	7%	9%	6%	8%	10%	12%	9%	15%
ROA	-	5%	4%	5%	5%	4%	4%	4%	4%	4%	4%
ROE	-	3%	3%	5%	6%	3%	5%	6%	8%	6%	7%

Good Net Margins (15.42%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-54.86	139.99	-35.23	-119.84	389.21	-57.38	18.8	34.07	90.34	45.28
Debt over Equity	1.96	1.22	1.24	1.37	1.18	1	1.08	1.12	1.19	1.22	1.14
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%	100%

Bad Debt/FCF ratio (45.28)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.14)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	33%	21%	16%	10%	8%	11%	9%	13%	7%	10%
Earnings YoY growth	-	-32%	84%	57%	39%	-27%	35%	41%	38%	-16%	26%
Equity YoY growth	-	59%	57%	5%	22%	20%	2%	6%	9%	8%	6%
FCF YoY growth	-	-463%	-163%	-564%	-69%	-131%	-848%	-435%	-36%	-58%	20%