EQIX

EQUINIX INC

Real Estate • CIK 0001101239

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Market Cap
$96.16B
P/E (TTM)
67.6x
Rev Growth (TTM)
+6.7%
Net Margin (TTM)
15.1%
FCF Yield (TTM)
-1.0%
FCF Margin (TTM)
-10.6%

Filings your agent reads

Factsheet

Primary-source SEC disclosures, read end-to-end — every figure traceable to its filing.

8-KMay 20262026-05-15source
8-KMay 20262026-05-11source
8-KMay 20262026-05-07source
10-QQ1 20262026-04-29source
8-KEarnings2026-04-29source

Point your agent at EQIX and it navigates these the same way — citing each number back to the filing.

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LATEST EARNINGS

•
Q1 2026
•
2 months ago
•View source
Revenue
$2.44B
+10.0%
Net Income
$415.00
—
EPS
N/A
—
Gross
51.5%↑ +0.2%
Operating
23.6%↑ +3.0%
Net
17.0%↑ +1.6%
  • •Revenues increased 10% year-over-year to $2.444 billion on an as-reported basis, and 8% on a normalized and constant currency basis.
  • •Operating income increased 26% year-over-year to $577 million, driven by strong underlying operating performance.
  • •Net income attributable to common stockholders increased 21% year-over-year to $415 million, with diluted EPS up 20% to $4.20.
  • •Record Adjusted EBITDA of $1.245 billion, with margins expanding 300 bps year-over-year to 51%.
View Full Earnings →

Cash Flow Health

Free Cash Flow3/8 positive
TTM$-998M
Q1 '26
$-539M-85%
Q4 '25
$-292M-139%
FCF Margin
TTM-10.6%
Q1 '26-22.1%-83%
Sector: 0.0%Below Avg
OCF Margin40.5%
OCF/NI2.69x
CapEx Coverage0.8x
FCF Yield-1.0%
FCF Growth (2Y)–
Cash Conversion Cycle
42 days
DSO: 42+DIO: 0−DPO: 0
View Latest Filing →View Full Cash Flow Statement →

Capital Allocation & Returns

Growth Focused
Total Shareholder YieldEst.
Est.2.0%
Div Yield2.0%

Prioritizing reinvestment over distributions

Dividend & Payout Metrics
Dividend Yield (TTM)2.0%
Free Cash Flow (TTM)$-998.0M
Capital Return / FCF-191.1%
Est. Dividends Paid (TTM)$1.9B
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
—
P25MedianP75
(med: -0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
—
Asset Turnover
0.24x
8Q: 0.25x
Leverage (1+D/E)
1.13x
D/E: 0.13x
Asset & CapEx Efficiency
Fixed Asset Turn
0.43x
8Q:0.45x
-5.7%
CapEx/Depreciation
2.28x
Asset-based ROIC formula

Valuation Analysis

Fair Value
Price-to-EarningsTTM
67.6x
Volatile
8Q: 232.0x+167579%
Valuation Lenses
Earnings
67.6x
vs – sector
Cash Flow
-94.8x
EV/FCF vs –
Growth-Adj
1.3xPEG
Fair for growth
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
2.0%
Buyback
–
Total Yield
2.0%
Market Cap$96.16B
EV$94.61B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
72/100
High Quality

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Top 25%
10.1%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:-0.1%

Earnings Quality

Cash Conversion

2.69x

OCF / Net Income ✓

FCF Consistency

–

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin–

Capital Efficiency

Invested Capital Turnover–

Working Capital

Cash Conversion Cycle42 days

Growth Quality & Momentum

Moderate Growth
Growth Quality Score
57/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
6.7%
OpInc Growth YoY
26.0%
EPS Growth YoY
50.5%
FCF 3Y CAGR
N/A

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
—
Operating
—
Net
15.1%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-25.6 pts
FCF: -10.6% | Net: 15.1%
FCF margin lags net margin by 25.6 pts

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.17B
Interest Coverage
–
+Net cash position: $1.17B
Leverage Metrics
Debt-to-Equity
0.13x
Balance sheet risk & solvency analysis

Research

All research