Equinix (EQIX) Financials

$877.57 +1.65 (+0.19%)

As of 05/19/2025 04:00 PM Eastern

Annual Income Statements for Equinix

This table shows Equinix's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	815	969	705	500	370	507	365	233	127	188
Consolidated Net Income / (Loss)	814	969	705	500	370	507	365	233	127	188
Net Income / (Loss) Continuing Operations	814	969	705	500	370	507	365	233	114	188
Total Pre-Tax Income	975	1,124	829	609	516	693	433	287	160	211
Total Operating Income	1,328	1,443	1,200	1,108	1,053	1,170	977	809	619	567
Total Gross Profit	4,281	3,960	3,512	3,163	2,924	2,752	2,466	2,175	1,791	1,434
Total Revenue	8,748	8,188	7,263	6,636	5,999	5,562	5,072	4,368	3,612	2,726
Operating Revenue	8,748	8,188	7,263	6,636	5,999	5,562	5,072	4,368	3,612	2,726
Total Cost of Revenue	4,467	4,228	3,751	3,472	3,074	2,810	2,605	2,193	1,821	1,292
Operating Cost of Revenue	4,467	4,228	3,751	3,472	3,074	2,810	2,605	2,193	1,821	1,292
Total Operating Expenses	2,953	2,517	2,312	2,055	1,871	1,582	1,489	1,366	1,172	867
Selling, General & Admin Expense	1,766	1,654	1,499	1,302	1,091	935	827	746	695	493
Marketing Expense	891	855	787	741	718	651	634	582	439	332
Impairment Charge	233	0.00	0.00	-	7.31	16	0.00	0.00	7.70	0.00
Restructuring Charge	81	13	22	23	56	25	34	39	64	42
Other Special Charges / (Income)	-18	-5.00	4.00	-11	-1.30	-44	-6.01	0.00	-33	0.00
Total Other Income / (Expense), net	-353	-319	-371	-499	-537	-477	-544	-522	-459	-356
Interest Expense	473	402	356	451	552	480	573	544	404	299
Interest & Investment Income	137	94	36	2.64	8.65	-25	14	13	3.48	3.58
Other Income / (Expense), net	-17	-11	-51	-51	6.91	28	14	9.21	-58	-61
Income Tax Expense	161	155	124	109	146	185	68	54	45	23
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.00	0.00	0.00	-0.46	0.30	-0.21	0.00	0.00	-	-
Basic Earnings per Share	$8.54	$10.35	$7.69	$5.57	$4.22	$6.03	$4.58	$3.03	$1.81	$3.25
Weighted Average Basic Shares Outstanding	95.46M	93.62M	91.57M	89.77M	87.70M	84.14M	79.78M	76.85M	70.12M	57.79M
Diluted Earnings per Share	$8.50	$10.31	$7.67	$5.53	$4.18	$5.99	$4.56	$3.00	$1.79	$3.21
Weighted Average Diluted Shares Outstanding	95.83M	94.01M	91.83M	90.41M	88.41M	84.68M	80.20M	77.54M	70.82M	58.48M
Weighted Average Basic & Diluted Shares Outstanding	97.33M	94.62M	92.74M	90.72M	89.29M	85.44M	87.20M	76.90M	70.10M	57.80M
Cash Dividends to Common per Share	$17.04	$14.49	$12.40	$11.48	$10.64	$9.84	$9.12	$8.00	$7.00	$17.71

This table shows Equinix's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	343	-14	297	301	231	227	276	207	259	129	212
Consolidated Net Income / (Loss)	343	-14	296	301	231	227	276	207	259	129	212
Net Income / (Loss) Continuing Operations	343	-14	296	301	231	227	276	207	259	129	212
Total Pre-Tax Income	392	-	350	348	277	270	296	244	314	177	246
Total Operating Income	458	103	425	436	364	346	381	332	384	282	333
Total Gross Profit	1,141	1,065	1,103	1,077	1,036	1,018	992	958	992	901	906
Total Revenue	2,225	2,261	2,201	2,159	2,127	2,110	2,061	2,019	1,998	1,871	1,841
Operating Revenue	2,225	2,261	2,201	2,159	2,127	2,110	2,061	2,019	1,998	1,871	1,841
Total Cost of Revenue	1,084	1,196	1,098	1,082	1,091	1,092	1,069	1,061	1,006	970	935
Operating Cost of Revenue	1,084	1,196	1,098	1,082	1,091	1,092	1,069	1,061	1,006	970	935
Total Operating Expenses	683	962	678	641	672	672	611	626	608	619	573
Selling, General & Admin Expense	438	451	434	437	444	449	404	406	395	400	375
Marketing Expense	229	209	237	219	226	217	212	216	210	208	193
Restructuring Charge	16	69	7.00	3.00	2.00	6.00	-1.00	6.00	2.00	11	2.01
Total Other Income / (Expense), net	-66	-103	-75	-88	-87	-76	-85	-88	-70	-104	-87
Interest Expense	122	141	117	110	105	103	102	100	97	94	91
Interest & Investment Income	47	49	35	29	24	28	23	24	19	18	11
Other Income / (Expense), net	9.00	-11	7.00	-7.00	-6.00	-1.00	-6.00	-12	8.00	-28	-6.74
Income Tax Expense	49	14	54	47	46	43	20	37	55	48	35
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	-1.00	-	-	-	0.00	-	-	-0.09	-0.07
Basic Earnings per Share	$3.52	($0.18)	$3.11	$3.17	$2.44	$2.42	$2.94	$2.21	$2.78	$1.39	$2.30
Weighted Average Basic Shares Outstanding	97.51M	95.46M	95.39M	94.92M	94.67M	93.62M	93.68M	93.54M	92.97M	91.57M	91.90M
Diluted Earnings per Share	$3.50	($0.19)	$3.10	$3.16	$2.43	$2.40	$2.93	$2.21	$2.77	$1.38	$2.30
Weighted Average Diluted Shares Outstanding	97.89M	95.83M	95.73M	95.17M	95.16M	94.01M	94.17M	93.86M	93.34M	91.83M	92.14M
Weighted Average Basic & Diluted Shares Outstanding	97.82M	97.33M	96.49M	94.94M	94.91M	94.62M	93.88M	93.56M	93.52M	92.74M	92.54M
Cash Dividends to Common per Share	$4.69	-	$4.26	$4.26	$4.26	-	$3.41	$3.41	$3.41	-	$3.10

This table details how cash moves in and out of Equinix's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	986	188	359	-76	-261	1,259	-823	646	-1,945	2,090
Net Cash From Operating Activities	3,249	3,217	2,963	2,547	2,310	1,993	1,815	1,439	1,019	895
Net Cash From Continuing Operating Activities	3,249	3,217	2,963	2,547	2,310	1,993	1,815	1,439	1,019	895
Net Income / (Loss) Continuing Operations	814	969	705	500	370	507	365	233	127	188
Consolidated Net Income / (Loss)	814	969	705	500	370	507	365	233	127	188
Depreciation Expense	1,801	1,637	1,532	1,451	1,224	1,089	1,024	865	714	498
Amortization Expense	228	227	223	223	215	209	217	201	142	43
Non-Cash Adjustments To Reconcile Net Income	896	600	478	647	622	281	253	236	169	154
Changes in Operating Assets and Liabilities, net	-490	-216	25	-273	-121	-93	-44	-96	-133	11
Net Cash From Investing Activities	-3,937	-3,224	-3,363	-3,007	-3,427	-1,945	-3,076	-5,401	-2,046	-638
Net Cash From Continuing Investing Activities	-3,941	-3,224	-3,363	-3,007	-3,427	-1,945	-3,076	-5,401	-2,046	-638
Purchase of Property, Plant & Equipment	-3,403	-3,165	-2,526	-2,953	-2,483	-2,249	-2,096	-1,474	-1,141	-906
Acquisitions	-98	-136	-1,109	-158	-1,180	-34	-830	-3,963	-1,767	-246
Purchase of Investments	-437	0.00	0.00	-108	-128	-61	-248	-58	-42	-359
Sale of Property, Plant & Equipment	247	77	250	209	334	359	12	48	852	0.00
Sale and/or Maturity of Investments	11	0.00	22	4.06	29	40	86	46	53	873
Other Investing Activities, net	-261	0.00	0.00	0.00	0.00	-	-	-	0.00	0.00
Net Cash From Financing Activities	1,723	211	857	414	816	1,202	471	4,608	-897	1,873
Net Cash From Continuing Financing Activities	1,723	211	857	414	816	1,202	471	4,608	-897	1,873
Repayment of Debt	-1,030	-13	-606	-2,832	-5,462	-2,346	-584	-2,979	-1,600	-762
Payment of Dividends	-1,643	-1,375	-1,152	-1,043	-948	-836	-739	-621	-499	-521
Issuance of Debt	2,768	902	1,871	3,879	5,182	2,798	1,355	5,686	1,168	2,297
Issuance of Common Equity	1,768	846	878	575	2,043	1,713	438	2,523	34	860
Other Financing Activities, net	-140	-149	-134	-166	-	-126	0.00	-	-	-
Effect of Exchange Rate Changes	-49	-16	-98	-30	41	-	-34	-	-22	-40
Cash Interest Paid	486	445	412	426	498	554	497	445	350	237
Cash Income Taxes Paid	185	153	140	134	144	137	93	73	39	132

This table details how cash moves in and out of Equinix's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-120	306	780	466	-566	-262	16	-302	736	-599	607
Net Cash From Operating Activities	809	981	758	912	598	999	785	741	692	760	820
Net Cash From Continuing Operating Activities	809	981	758	912	598	999	785	741	692	760	820
Net Income / (Loss) Continuing Operations	343	-14	296	301	231	227	276	207	259	129	212
Consolidated Net Income / (Loss)	343	-14	296	301	231	227	276	207	259	129	212
Depreciation Expense	431	445	444	438	474	411	411	410	405	387	378
Amortization Expense	53	58	57	56	57	56	57	57	57	56	56
Non-Cash Adjustments To Reconcile Net Income	150	498	82	171	145	261	34	198	107	40	155
Changes in Operating Assets and Liabilities, net	-168	-6.00	-121	-54	-309	44	7.00	-131	-136	147	19
Net Cash From Investing Activities	-964	-1,111	-1,365	-734	-727	-1,281	-752	-669	-522	-1,072	-664
Net Cash From Continuing Investing Activities	-964	-1,111	-1,365	-738	-727	-1,281	-752	-669	-522	-1,072	-664
Purchase of Property, Plant & Equipment	-767	-1,037	-886	-756	-724	-1,227	-730	-638	-570	-1,036	-559
Acquisitions	-43	-33	-29	-	-	-54	-27	-	-	-145	-80
Purchase of Investments	-158	13	-	-	-3.00	-	-	-	-24	109	-22
Sale and/or Maturity of Investments	4.00	-	-	-	-	-	-	-	-	-0.07	-
Net Cash From Financing Activities	15	478	1,348	294	-397	-22	18	-327	542	-325	489
Net Cash From Continuing Financing Activities	15	478	1,348	294	-397	-22	18	-327	542	-325	489
Repayment of Debt	-4.00	-1,010	-8.00	-10	-2.00	-1.00	-5.00	-	-7.00	-2.04	-25
Payment of Dividends	-468	-413	-413	-405	-412	-403	-325	-321	-326	-288	-291
Issuance of Debt	370	1,244	780	744	0.00	-	338	-1.00	565	0.46	-
Issuance of Common Equity	149	696	1,024	-	48	433	42	25	346	0.44	834
Other Financing Activities, net	-32	-39	-35	-35	-31	-51	-32	-30	-36	-36	-28
Effect of Exchange Rate Changes	20	-	-	-6.00	-40	42	-35	-47	24	38	-39

This table presents Equinix's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	35,085	32,651	30,311	27,919	27,007	23,966	20,245	18,691	12,608	10,357
Total Current Assets	5,447	3,568	3,305	2,957	2,609	2,873	1,516	2,249	1,468	3,259
Cash & Equivalents	3,081	2,096	1,906	1,536	1,605	1,870	606	1,413	748	2,229
Short-Term Investments	527	0.00	-	-	4.53	10	4.54	28	3.41	13
Accounts Receivable	949	1,004	855	682	677	689	630	576	396	292
Other Current Assets	890	468	459	463	323	304	275	232	319	213
Plant, Property, & Equipment, net	19,249	18,601	16,650	15,446	0.00	12,153	11,026	9,395	7,199	5,606
Total Noncurrent Assets	10,389	10,482	10,356	9,516	24,398	8,940	7,703	7,048	3,942	1,491
Goodwill	5,504	5,737	5,654	5,372	5,473	4,782	4,836	4,412	2,986	1,063
Intangible Assets	1,417	1,705	1,898	1,935	2,171	2,102	2,333	2,385	719	225
Other Noncurrent Operating Assets	3,468	3,040	2,804	2,208	16,754	2,056	533	242	226	199
Total Liabilities & Shareholders' Equity	35,085	32,651	30,311	27,919	27,007	23,966	20,245	18,691	12,608	10,357
Total Liabilities	21,533	20,137	18,805	17,037	16,373	15,125	13,025	11,842	8,243	7,611
Total Current Liabilities	3,349	3,162	1,838	1,606	2,025	2,158	1,515	1,243	1,029	1,656
Short-Term Debt	1,204	1,006	9.85	33	232	721	452	143	169	956
Accounts Payable	1,193	1,187	1,005	879	845	761	757	719	582	401
Accrued Expenses	387	398	281	187	301	302	179	220	145	103
Other Current Liabilities	565	571	542	506	646	375	127	160	133	192
Total Noncurrent Liabilities	18,184	16,975	16,967	15,431	14,348	12,967	11,510	10,599	7,214	5,955
Long-Term Debt	14,007	12,725	12,752	11,571	10,306	9,599	9,439	8,317	5,180	4,277
Capital Lease Obligations	3,417	3,454	3,417	3,097	3,093	0.00	1,441	1,620	1,411	1,287
Other Noncurrent Operating Liabilities	760	796	798	763	949	3,368	630	662	623	390
Commitments & Contingencies	0.00	0.00	0.00	-	-	-	0.00	-	0.00	0.00
Redeemable Noncontrolling Interest	25	25	0.00	-	-	-	-	-	-	-
Total Equity & Noncontrolling Interests	13,527	12,489	11,506	10,882	10,634	8,840	7,219	6,850	4,366	2,745
Total Preferred & Common Equity	13,528	12,489	11,506	10,882	10,634	8,841	7,219	6,850	4,366	2,745
Total Common Equity	13,528	12,489	11,506	10,882	10,634	8,841	7,219	6,850	4,366	2,745
Common Stock	20,895	18,596	17,320	15,985	15,028	12,697	10,751	10,121	7,414	4,839
Retained Earnings	-5,593	-4,761	-4,353	-3,905	-3,359	-2,777	-2,441	-2,340	-1,951	-1,577
Treasury Stock	-39	-56	-72	-112	-122	-144	-145	-146	-148	-7.37
Accumulated Other Comprehensive Income / (Loss)	-1,735	-1,290	-1,389	-1,086	-913	-935	-946	-785	-949	-509
Noncontrolling Interest	-1.00	0.00	-0.13	-0.32	0.13	-0.22	0.00	-	-	-

This table presents Equinix's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	36,079	35,085	35,438	32,854	31,937	32,651	31,685	31,567	31,274	30,311	29,326
Total Current Assets	5,505	5,447	5,055	3,729	3,167	3,568	3,885	3,744	3,993	3,305	4,017
Cash & Equivalents	2,950	3,081	2,776	1,993	1,527	2,096	2,357	2,342	2,643	1,906	2,501
Short-Term Investments	723	527	451	-	-	0.00	-	-	-	-	-
Accounts Receivable	1,089	949	1,123	1,124	1,079	1,004	1,031	1,006	913	855	779
Other Current Assets	743	890	705	612	561	468	497	396	437	459	657
Plant, Property, & Equipment, net	20,017	19,249	19,665	18,614	18,511	18,601	17,371	17,267	16,914	16,650	15,141
Total Noncurrent Assets	10,557	10,389	10,718	10,511	10,259	10,482	10,429	10,556	10,367	10,356	10,168
Goodwill	5,633	5,504	5,768	5,622	5,621	5,737	5,589	5,732	5,712	5,654	5,394
Intangible Assets	1,388	1,417	1,544	1,573	1,624	1,705	1,731	1,807	1,860	1,898	1,893
Other Noncurrent Operating Assets	3,536	3,468	3,406	3,316	3,014	3,040	1,593	3,016	2,796	2,804	2,882
Total Liabilities & Shareholders' Equity	36,079	35,085	35,438	32,854	31,937	32,651	31,685	31,567	31,274	30,311	29,326
Total Liabilities	22,166	21,533	21,826	20,551	19,613	20,137	19,773	19,518	19,245	18,805	18,172
Total Current Liabilities	3,327	3,349	4,370	3,068	2,891	3,162	1,894	1,854	1,754	1,838	1,696
Short-Term Debt	1,204	1,204	2,203	1,146	1,006	1,006	8.21	148	151	9.85	9.81
Accounts Payable	1,105	1,193	1,125	1,139	1,077	1,187	1,058	1,023	933	1,005	923
Accrued Expenses	422	387	394	420	321	398	364	316	288	281	275
Other Current Liabilities	596	565	648	363	487	571	464	367	382	542	488
Total Noncurrent Liabilities	18,839	18,184	17,456	17,483	16,722	16,975	17,879	17,664	17,491	16,967	16,476
Long-Term Debt	14,560	14,007	13,075	13,336	12,632	12,725	13,583	13,339	13,361	12,752	12,607
Capital Lease Obligations	3,535	3,417	3,559	3,360	3,338	3,454	3,521	3,539	3,345	3,417	3,130
Other Noncurrent Operating Liabilities	744	760	822	787	752	796	775	786	785	798	739
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	25	25	25	25	25	25	25	25	-	0.00	-
Total Equity & Noncontrolling Interests	13,888	13,527	13,587	12,278	12,299	12,489	11,887	12,024	12,029	11,506	11,154
Total Preferred & Common Equity	13,889	13,528	13,588	12,278	12,299	12,489	11,887	12,024	12,029	11,506	11,154
Total Common Equity	13,889	13,528	13,588	12,278	12,299	12,489	11,887	12,024	12,029	11,506	11,154
Common Stock	21,186	20,895	20,069	18,915	18,779	18,596	18,051	17,909	17,796	17,320	17,194
Retained Earnings	-5,706	-5,593	-5,158	-5,048	-4,932	-4,761	-4,581	-4,533	-4,416	-4,353	-4,191
Treasury Stock	-32	-39	-40	-48	-50	-56	-57	-64	-66	-72	-93
Accumulated Other Comprehensive Income / (Loss)	-1,559	-1,735	-1,283	-1,541	-1,498	-1,290	-1,526	-1,288	-1,285	-1,389	-1,756
Noncontrolling Interest	-1.00	-1.00	-1.00	-	-	0.00	-0.33	-0.11	-0.19	-0.13	-0.29

This table displays calculated financial ratios and metrics derived from Equinix's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.84%	12.74%	9.46%	10.62%	7.85%	9.67%	16.10%	20.94%	32.51%	11.54%
EBITDA Growth	1.34%	13.50%	6.34%	9.28%	0.15%	11.77%	18.43%	33.02%	35.17%	3.83%
EBIT Growth	-8.45%	24.63%	8.65%	-0.22%	-11.49%	20.78%	21.17%	45.90%	10.67%	-0.52%
NOPAT Growth	-10.88%	21.90%	12.22%	20.48%	-11.88%	3.88%	25.49%	48.40%	-12.29%	132.22%
Net Income Growth	-16.00%	37.45%	41.08%	35.03%	-27.04%	38.83%	56.82%	83.74%	-32.47%	172.02%
EPS Growth	-17.56%	34.42%	38.70%	32.30%	-30.22%	31.36%	52.00%	67.60%	-44.24%	164.72%
Operating Cash Flow Growth	0.99%	8.57%	16.32%	10.28%	15.91%	9.77%	26.14%	41.19%	13.92%	29.79%
Free Cash Flow Firm Growth	121.00%	26.35%	-342.15%	95.58%	-404.55%	192.73%	63.31%	-30.79%	-1,264.66%	84.50%
Invested Capital Growth	3.51%	7.43%	8.09%	4.92%	31.11%	-3.68%	15.90%	49.37%	59.17%	13.11%
Revenue Q/Q Growth	1.75%	3.01%	2.32%	2.19%	2.51%	1.96%	2.21%	6.27%	6.24%	3.51%
EBITDA Q/Q Growth	-6.10%	3.67%	0.75%	2.49%	-2.01%	3.93%	3.04%	7.91%	12.91%	-2.30%
EBIT Q/Q Growth	-16.18%	6.84%	0.81%	1.73%	-8.57%	6.21%	5.62%	7.46%	20.52%	-6.89%
NOPAT Q/Q Growth	-16.71%	6.85%	2.11%	4.91%	-12.33%	2.80%	7.15%	2.90%	7.87%	176.32%
Net Income Q/Q Growth	-22.84%	11.26%	0.89%	16.89%	-16.64%	3.01%	13.98%	1.51%	67.32%	205.46%
EPS Q/Q Growth	-23.35%	10.98%	0.39%	17.16%	-17.88%	1.35%	13.43%	-1.96%	73.79%	186.76%
Operating Cash Flow Q/Q Growth	-0.54%	8.02%	-4.27%	8.80%	7.27%	-1.43%	3.64%	15.60%	6.86%	3.81%
Free Cash Flow Firm Q/Q Growth	111.41%	43.75%	66.99%	87.15%	-564.76%	-19.79%	15.30%	-15.81%	16.96%	50.33%
Invested Capital Q/Q Growth	-2.22%	3.51%	5.65%	15.48%	24.99%	4.28%	1.77%	3.70%	-0.71%	9.95%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.94%	48.36%	48.35%	47.67%	48.75%	49.48%	48.63%	49.80%	49.59%	52.62%
EBITDA Margin	38.18%	40.25%	39.98%	41.16%	41.66%	44.86%	44.02%	43.15%	39.23%	38.46%
Operating Margin	15.18%	17.62%	16.52%	16.70%	17.55%	21.03%	19.27%	18.52%	17.13%	20.81%
EBIT Margin	14.99%	17.49%	15.82%	15.94%	17.67%	21.53%	19.55%	18.73%	15.53%	18.59%
Profit (Net Income) Margin	9.31%	11.83%	9.71%	7.53%	6.17%	9.12%	7.20%	5.33%	3.51%	6.89%
Tax Burden Percent	83.49%	86.21%	85.04%	82.06%	71.69%	73.24%	84.37%	81.23%	79.32%	88.99%
Interest Burden Percent	74.37%	78.49%	72.15%	57.58%	48.71%	57.84%	43.68%	35.06%	28.50%	41.64%
Effective Tax Rate	16.51%	13.79%	14.96%	17.94%	28.31%	26.76%	15.63%	18.77%	28.43%	11.01%
Return on Invested Capital (ROIC)	3.95%	4.67%	4.13%	3.92%	3.78%	4.86%	4.93%	5.09%	5.25%	8.23%
ROIC Less NNEP Spread (ROIC-NNEP)	1.99%	2.79%	1.80%	0.63%	0.02%	1.22%	0.19%	-0.71%	-1.23%	-0.51%
Return on Net Nonoperating Assets (RNNOA)	2.30%	3.40%	2.17%	0.73%	0.02%	1.45%	0.26%	-0.93%	-1.68%	-0.74%
Return on Equity (ROE)	6.25%	8.07%	6.30%	4.65%	3.80%	6.32%	5.19%	4.15%	3.57%	7.49%
Cash Return on Invested Capital (CROIC)	0.50%	-2.50%	-3.65%	-0.88%	-23.14%	8.62%	-9.79%	-34.51%	-40.41%	-4.07%
Operating Return on Assets (OROA)	3.87%	4.55%	3.95%	3.85%	4.16%	5.42%	5.09%	5.23%	4.88%	5.59%
Return on Assets (ROA)	2.40%	3.08%	2.42%	1.82%	1.45%	2.29%	1.88%	1.49%	1.10%	2.07%
Return on Common Equity (ROCE)	6.23%	8.06%	6.30%	4.65%	3.80%	6.32%	5.19%	4.15%	3.57%	7.49%
Return on Equity Simple (ROE_SIMPLE)	6.02%	7.76%	6.13%	4.59%	3.48%	5.74%	5.06%	3.40%	2.90%	6.84%
Net Operating Profit after Tax (NOPAT)	1,109	1,244	1,021	909	755	857	825	657	443	505
NOPAT Margin	12.67%	15.19%	14.05%	13.71%	12.58%	15.40%	16.26%	15.04%	12.26%	18.52%
Net Nonoperating Expense Percent (NNEP)	1.96%	1.88%	2.33%	3.29%	3.76%	3.65%	4.75%	5.80%	6.47%	8.75%
Return On Investment Capital (ROIC_SIMPLE)	3.45%	4.19%	3.69%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	51.06%	51.64%	51.65%	52.33%	51.25%	50.52%	51.37%	50.20%	50.41%	47.38%
SG&A Expenses to Revenue	20.19%	20.20%	20.64%	19.62%	18.19%	16.81%	16.30%	17.07%	19.23%	18.10%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.76%	30.74%	31.83%	30.97%	31.20%	28.45%	29.36%	31.28%	32.46%	31.81%
Earnings before Interest and Taxes (EBIT)	1,311	1,432	1,149	1,058	1,060	1,197	991	818	561	507
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,340	3,296	2,904	2,731	2,499	2,495	2,233	1,885	1,417	1,048
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.73	5.93	5.06	6.63	5.59	5.18	3.54	4.56	5.05	5.34
Price to Tangible Book Value (P/TBV)	13.77	14.68	14.73	20.20	19.86	23.39	515.16	588.84	33.40	10.06
Price to Revenue (P/Rev)	10.40	9.05	8.02	10.88	9.90	8.23	5.04	7.15	6.11	5.38
Price to Earnings (P/E)	111.63	76.48	82.62	144.34	160.64	90.19	69.93	134.09	173.99	78.13
Dividend Yield	1.81%	1.84%	1.97%	1.43%	1.60%	1.83%	2.87%	2.00%	2.81%	6.92%
Earnings Yield	0.90%	1.31%	1.21%	0.69%	0.62%	1.11%	1.43%	0.75%	0.57%	1.28%
Enterprise Value to Invested Capital (EV/IC)	3.71	3.23	2.82	3.59	3.15	3.14	2.02	2.58	2.71	2.84
Enterprise Value to Revenue (EV/Rev)	12.12	10.90	9.98	12.86	11.91	9.75	7.15	9.13	7.77	6.77
Enterprise Value to EBITDA (EV/EBITDA)	31.74	27.07	24.97	31.26	28.58	21.72	16.25	21.15	19.80	17.61
Enterprise Value to EBIT (EV/EBIT)	80.87	62.31	63.12	80.72	67.39	45.27	36.58	48.73	50.03	36.44
Enterprise Value to NOPAT (EV/NOPAT)	95.63	71.72	71.06	93.87	94.62	63.28	43.98	60.68	63.37	36.57
Enterprise Value to Operating Cash Flow (EV/OCF)	32.63	27.73	24.48	33.51	30.92	27.20	19.98	27.70	27.53	20.64
Enterprise Value to Free Cash Flow (EV/FCFF)	758.87	0.00	0.00	0.00	0.00	35.73	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.37	1.37	1.41	1.35	1.28	1.17	1.57	1.47	1.55	2.38
Long-Term Debt to Equity	1.29	1.29	1.41	1.35	1.26	1.09	1.51	1.45	1.51	2.03
Financial Leverage	1.16	1.22	1.21	1.16	1.05	1.19	1.38	1.30	1.37	1.45
Leverage Ratio	2.60	2.62	2.60	2.55	2.62	2.75	2.77	2.79	3.23	3.62
Compound Leverage Factor	1.93	2.06	1.88	1.47	1.27	1.59	1.21	0.98	0.92	1.51
Debt to Total Capital	57.89%	57.86%	58.44%	57.46%	56.18%	53.86%	61.09%	59.54%	60.76%	70.37%
Short-Term Debt to Total Capital	3.74%	3.39%	0.04%	0.13%	0.96%	3.76%	2.44%	0.85%	1.52%	10.32%
Long-Term Debt to Total Capital	54.15%	54.48%	58.40%	57.33%	55.22%	50.10%	58.65%	58.70%	59.24%	60.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.07%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	42.04%	42.05%	41.56%	42.54%	43.82%	46.14%	38.91%	40.46%	39.24%	29.63%
Debt to EBITDA	5.58	5.21	5.57	5.38	5.45	4.14	5.08	5.35	4.77	6.22
Net Debt to EBITDA	4.50	4.58	4.91	4.82	4.81	3.38	4.80	4.58	4.23	3.62
Long-Term Debt to EBITDA	5.22	4.91	5.57	5.37	5.36	3.85	4.87	5.27	4.65	5.31
Debt to NOPAT	16.80	13.81	15.85	16.17	18.06	12.05	13.74	15.34	15.26	12.92
Net Debt to NOPAT	13.55	12.13	13.99	14.48	15.93	9.85	13.00	13.13	13.54	7.52
Long-Term Debt to NOPAT	15.72	13.01	15.84	16.13	17.75	11.21	13.19	15.12	14.88	11.02
Altman Z-Score	2.76	2.41	2.08	2.77	2.38	2.09	1.42	1.85	1.86	1.55
Noncontrolling Interest Sharing Ratio	0.19%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.63	1.13	1.80	1.84	1.29	1.33	1.00	1.81	1.43	1.97
Quick Ratio	1.36	0.98	1.50	1.38	1.13	1.19	0.82	1.62	1.12	1.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	140	-665	-903	-204	-4,621	1,517	-1,636	-4,460	-3,410	-250
Operating Cash Flow to CapEx	102.95%	104.18%	130.18%	92.80%	107.52%	105.44%	87.11%	100.93%	351.62%	98.72%
Free Cash Flow to Firm to Interest Expense	0.30	-1.66	-2.54	-0.45	-8.37	3.16	-2.86	-8.19	-8.43	-0.83
Operating Cash Flow to Interest Expense	6.87	8.00	8.32	5.65	4.18	4.15	3.17	2.64	2.52	2.99
Operating Cash Flow Less CapEx to Interest Expense	0.20	0.32	1.93	-0.44	0.29	0.21	-0.47	0.02	1.80	-0.04
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.26	0.25	0.24	0.24	0.25	0.26	0.28	0.31	0.30
Accounts Receivable Turnover	8.96	8.81	9.45	9.77	8.78	8.43	8.41	8.98	10.50	9.83
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.46	0.46	0.45	0.00	0.00	0.48	0.50	0.53	0.56	0.51
Accounts Payable Turnover	3.75	3.86	3.98	4.03	3.83	3.70	3.53	3.37	3.71	3.76
Days Sales Outstanding (DSO)	40.74	41.44	38.63	37.36	41.56	43.29	43.41	40.63	34.77	37.13
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	97.24	94.61	91.66	90.61	95.31	98.54	103.38	108.26	98.49	97.04
Cash Conversion Cycle (CCC)	-56.49	-53.17	-53.04	-53.24	-53.76	-55.26	-59.97	-67.63	-63.72	-59.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	28,572	27,603	25,694	23,770	22,656	17,280	17,941	15,480	10,363	6,511
Invested Capital Turnover	0.31	0.31	0.29	0.29	0.30	0.32	0.30	0.34	0.43	0.44
Increase / (Decrease) in Invested Capital	969	1,909	1,924	1,114	5,376	-661	2,461	5,117	3,853	755
Enterprise Value (EV)	106,022	89,221	72,519	85,361	71,422	54,206	36,271	39,872	28,060	18,466
Market Capitalization	90,978	74,107	58,247	72,197	59,399	45,766	25,549	31,241	22,062	14,671
Book Value per Share	$140.20	$133.03	$124.34	$120.86	$119.35	$103.67	$89.80	$87.56	$61.16	$47.92
Tangible Book Value per Share	$68.47	$53.76	$42.73	$39.70	$33.56	$22.94	$0.62	$0.68	$9.25	$25.44
Total Capital	32,180	29,699	27,684	25,582	24,266	19,160	18,552	16,930	11,125	9,266
Total Debt	18,628	17,185	16,179	14,701	13,631	10,320	11,332	10,080	6,760	6,521
Total Long-Term Debt	17,424	16,179	16,169	14,668	13,399	9,599	10,881	9,937	6,591	5,565
Net Debt	15,020	15,089	14,272	13,164	12,022	8,440	10,722	8,630	5,998	3,795
Capital Expenditures (CapEx)	3,156	3,088	2,276	2,745	2,148	1,890	2,084	1,426	290	906
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-306	-684	-430	-152	-793	-444	-158	-291	-144	-162
Debt-free Net Working Capital (DFNWC)	3,302	1,412	1,477	1,384	817	1,436	453	1,150	608	2,559
Net Working Capital (NWC)	2,098	406	1,467	1,351	584	715	0.61	1,006	439	1,603
Net Nonoperating Expense (NNE)	295	275	316	410	385	349	459	424	316	317
Net Nonoperating Obligations (NNO)	15,020	15,089	14,188	12,888	12,022	8,440	10,722	8,630	5,998	3,766
Total Depreciation and Amortization (D&A)	2,029	1,864	1,755	1,673	1,439	1,298	1,241	1,067	856	542
Debt-free, Cash-free Net Working Capital to Revenue	-3.50%	-8.35%	-5.92%	-2.29%	-13.21%	-7.99%	-3.12%	-6.67%	-3.99%	-5.93%
Debt-free Net Working Capital to Revenue	37.75%	17.24%	20.33%	20.86%	13.62%	25.81%	8.92%	26.32%	16.83%	93.89%
Net Working Capital to Revenue	23.98%	4.96%	20.20%	20.36%	9.74%	12.85%	0.01%	23.04%	12.15%	58.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$8.54	$10.35	$7.69	$5.57	$4.22	$6.03	$4.58	$3.03	$1.81	$3.25
Adjusted Weighted Average Basic Shares Outstanding	95.46M	93.62M	91.57M	89.77M	87.70M	84.14M	79.78M	76.85M	70.12M	57.79M
Adjusted Diluted Earnings per Share	$8.50	$10.31	$7.67	$5.53	$4.18	$5.99	$4.56	$3.00	$1.79	$3.21
Adjusted Weighted Average Diluted Shares Outstanding	95.83M	94.01M	91.83M	90.41M	88.41M	84.68M	80.20M	77.54M	70.82M	58.48M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	97.33M	94.62M	92.74M	90.72M	89.29M	85.44M	80.87M	79.23M	71.64M	69.03M
Normalized Net Operating Profit after Tax (NOPAT)	1,356	1,251	1,043	919	799	854	849	689	471	542
Normalized NOPAT Margin	15.50%	15.28%	14.36%	13.85%	13.32%	15.35%	16.73%	15.76%	13.03%	19.88%
Pre Tax Income Margin	11.15%	13.73%	11.41%	9.18%	8.61%	12.45%	8.54%	6.57%	4.43%	7.74%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.77	3.56	3.23	2.34	1.92	2.50	1.73	1.50	1.39	1.69
NOPAT to Interest Expense	2.34	3.09	2.87	2.02	1.37	1.79	1.44	1.21	1.09	1.69
EBIT Less CapEx to Interest Expense	-3.90	-4.12	-3.17	-3.74	-1.97	-1.44	-1.91	-1.12	0.67	-1.34
NOPAT Less CapEx to Interest Expense	-4.33	-4.59	-3.53	-4.07	-2.52	-2.15	-2.20	-1.41	0.38	-1.34
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	201.84%	141.90%	163.40%	208.70%	256.15%	164.84%	202.16%	266.76%	393.90%	277.71%
Augmented Payout Ratio	201.84%	141.90%	163.40%	208.70%	256.15%	164.84%	202.16%	266.76%	393.90%	277.71%

This table displays calculated financial ratios and metrics derived from Equinix's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.61%	7.16%	6.79%	6.93%	6.46%	12.79%	11.97%	11.11%	15.20%	9.63%	9.88%
EBITDA Growth	6.97%	-26.72%	10.68%	17.28%	4.10%	16.65%	10.75%	5.01%	22.47%	3.22%	7.67%
EBIT Growth	30.45%	-73.33%	15.20%	34.06%	-8.67%	36.26%	14.88%	2.69%	52.08%	3.80%	15.10%
NOPAT Growth	32.02%	-75.21%	1.17%	33.89%	-4.16%	41.62%	24.06%	-7.85%	44.76%	10.24%	37.04%
Net Income Growth	48.48%	-106.17%	7.25%	45.41%	-10.81%	75.53%	30.35%	-4.27%	75.36%	5.02%	39.28%
EPS Growth	44.03%	-107.92%	5.80%	42.99%	-12.27%	73.91%	27.39%	-6.75%	70.99%	2.22%	36.90%
Operating Cash Flow Growth	35.28%	-1.80%	-3.44%	23.08%	-13.58%	31.45%	-4.30%	-7.56%	19.08%	-14.81%	23.40%
Free Cash Flow Firm Growth	-11.41%	44.58%	-10.27%	34.88%	34.96%	5.82%	42.27%	62.31%	51.20%	-85.30%	-53.50%
Invested Capital Growth	6.36%	3.51%	9.58%	5.31%	5.83%	7.43%	9.65%	7.57%	9.15%	8.09%	18.15%
Revenue Q/Q Growth	-1.59%	2.73%	1.95%	1.50%	0.80%	2.38%	2.08%	1.05%	6.80%	1.63%	1.29%
EBITDA Q/Q Growth	59.83%	-36.23%	1.08%	3.82%	9.22%	-3.68%	7.12%	-7.85%	22.83%	-8.54%	1.56%
EBIT Q/Q Growth	407.61%	-78.70%	0.70%	19.83%	3.56%	-8.00%	17.19%	-18.37%	54.75%	-22.43%	4.75%
NOPAT Q/Q Growth	455.83%	-79.94%	-4.69%	24.23%	4.16%	-18.12%	26.13%	-11.08%	54.74%	-28.27%	-6.31%
Net Income Q/Q Growth	2,550.00%	-104.73%	-1.66%	30.30%	1.66%	-17.75%	33.33%	-20.08%	100.93%	-38.92%	-2.08%
EPS Q/Q Growth	1,942.11%	-106.13%	-1.90%	30.04%	1.25%	-18.09%	32.58%	-20.22%	100.72%	-40.00%	-2.95%
Operating Cash Flow Q/Q Growth	-17.53%	29.42%	-16.89%	52.51%	-40.12%	27.26%	5.94%	7.08%	-8.97%	-7.35%	2.33%
Free Cash Flow Firm Q/Q Growth	-52.22%	59.16%	-110.81%	14.99%	24.26%	18.74%	-24.49%	15.08%	-9.59%	50.19%	18.73%
Invested Capital Q/Q Growth	3.38%	-2.22%	3.80%	1.36%	0.62%	3.51%	-0.25%	1.86%	2.14%	5.65%	-2.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.28%	47.10%	50.11%	49.88%	48.71%	48.25%	48.13%	47.45%	49.65%	48.14%	49.22%
EBITDA Margin	42.74%	26.32%	42.39%	42.75%	41.80%	38.48%	40.90%	38.98%	42.74%	37.21%	41.35%
Operating Margin	20.58%	4.56%	19.31%	20.19%	17.11%	16.40%	18.49%	16.44%	19.22%	15.06%	18.10%
EBIT Margin	20.99%	4.07%	19.63%	19.87%	16.83%	16.35%	18.20%	15.85%	19.62%	13.53%	17.73%
Profit (Net Income) Margin	15.42%	-0.62%	13.45%	13.94%	10.86%	10.76%	13.39%	10.25%	12.96%	6.91%	11.50%
Tax Burden Percent	87.50%	0.00%	84.57%	86.49%	83.39%	84.07%	93.24%	84.84%	82.48%	72.93%	85.95%
Interest Burden Percent	83.94%	0.00%	81.02%	81.12%	77.37%	78.26%	78.93%	76.25%	80.10%	70.04%	75.47%
Effective Tax Rate	12.50%	0.00%	15.43%	13.51%	16.61%	15.93%	6.76%	15.16%	17.52%	27.08%	14.05%
Return on Invested Capital (ROIC)	5.56%	0.99%	5.02%	5.38%	4.39%	4.24%	5.37%	4.18%	4.75%	3.22%	4.92%
ROIC Less NNEP Spread (ROIC-NNEP)	5.19%	0.42%	4.61%	4.88%	3.91%	3.80%	4.81%	3.66%	4.32%	2.66%	4.28%
Return on Net Nonoperating Assets (RNNOA)	6.15%	0.49%	5.48%	6.12%	4.76%	4.63%	5.82%	4.67%	5.14%	3.22%	4.56%
Return on Equity (ROE)	11.71%	1.48%	10.50%	11.51%	9.15%	8.87%	11.19%	8.85%	9.89%	6.44%	9.48%
Cash Return on Invested Capital (CROIC)	-1.95%	0.50%	-4.38%	-0.34%	-1.10%	-2.50%	-4.64%	-3.06%	-4.31%	-3.65%	-12.19%
Operating Return on Assets (OROA)	5.46%	1.05%	5.03%	5.22%	4.43%	4.25%	4.74%	4.04%	4.98%	3.38%	4.41%
Return on Assets (ROA)	4.01%	-0.16%	3.45%	3.66%	2.86%	2.80%	3.49%	2.61%	3.29%	1.72%	2.86%
Return on Common Equity (ROCE)	11.68%	1.48%	10.48%	11.48%	9.14%	8.86%	11.18%	8.84%	9.89%	6.44%	9.48%
Return on Equity Simple (ROE_SIMPLE)	6.67%	0.00%	7.76%	8.43%	7.65%	0.00%	7.33%	6.71%	6.78%	0.00%	6.26%
Net Operating Profit after Tax (NOPAT)	401	72	359	377	304	291	355	282	317	205	286
NOPAT Margin	18.01%	3.19%	16.33%	17.47%	14.27%	13.79%	17.24%	13.95%	15.85%	10.98%	15.56%
Net Nonoperating Expense Percent (NNEP)	0.37%	0.57%	0.42%	0.50%	0.49%	0.44%	0.57%	0.52%	0.42%	0.56%	0.64%
Return On Investment Capital (ROIC_SIMPLE)	1.21%	0.22%	-	-	-	0.98%	-	-	-	0.74%	-
Cost of Revenue to Revenue	48.72%	52.90%	49.89%	50.12%	51.29%	51.75%	51.87%	52.55%	50.35%	51.86%	50.78%
SG&A Expenses to Revenue	19.69%	19.95%	19.72%	20.24%	20.87%	21.28%	19.60%	20.11%	19.77%	21.41%	20.40%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	30.70%	42.55%	30.80%	29.69%	31.59%	31.85%	29.65%	31.01%	30.43%	33.08%	31.12%
Earnings before Interest and Taxes (EBIT)	467	92	432	429	358	345	375	320	392	253	326
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	951	595	933	923	889	812	843	787	854	696	761
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.71	6.73	6.20	5.82	6.23	5.93	5.60	5.94	5.39	5.06	4.46
Price to Tangible Book Value (P/TBV)	11.56	13.77	13.43	14.05	15.17	14.68	14.57	15.94	14.56	14.73	12.87
Price to Revenue (P/Rev)	8.97	10.40	9.80	8.45	9.22	9.05	8.37	9.25	8.62	8.02	7.01
Price to Earnings (P/E)	85.61	111.63	79.79	69.01	81.47	76.48	76.42	88.60	79.52	82.62	71.23
Dividend Yield	2.14%	1.81%	1.92%	2.15%	1.88%	1.84%	1.87%	1.70%	1.82%	1.97%	2.23%
Earnings Yield	1.17%	0.90%	1.25%	1.45%	1.23%	1.31%	1.31%	1.13%	1.26%	1.21%	1.40%
Enterprise Value to Invested Capital (EV/IC)	3.22	3.71	3.42	3.10	3.32	3.23	3.05	3.22	3.01	2.82	2.59
Enterprise Value to Revenue (EV/Rev)	10.74	12.12	11.62	10.32	11.08	10.90	10.23	11.15	10.51	9.98	8.88
Enterprise Value to EBITDA (EV/EBITDA)	27.93	31.74	28.09	25.18	27.66	27.07	25.58	27.82	25.85	24.97	21.87
Enterprise Value to EBIT (EV/EBIT)	66.91	80.87	63.88	57.93	65.91	62.31	60.67	66.71	61.63	63.12	55.30
Enterprise Value to NOPAT (EV/NOPAT)	78.65	95.63	75.05	65.80	74.81	71.72	69.85	78.80	70.87	71.06	63.06
Enterprise Value to Operating Cash Flow (EV/OCF)	27.46	32.63	30.59	26.51	29.51	27.73	27.31	28.60	25.73	24.48	20.36
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	758.87	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.39	1.37	1.38	1.45	1.38	1.37	1.44	1.41	1.40	1.41	1.41
Long-Term Debt to Equity	1.30	1.29	1.22	1.36	1.30	1.29	1.44	1.40	1.39	1.41	1.41
Financial Leverage	1.18	1.16	1.19	1.25	1.22	1.22	1.21	1.27	1.19	1.21	1.07
Leverage Ratio	2.59	2.60	2.63	2.65	2.60	2.62	2.65	2.67	2.58	2.60	2.63
Compound Leverage Factor	2.18	0.00	2.13	2.15	2.01	2.05	2.09	2.04	2.07	1.82	1.98
Debt to Total Capital	58.11%	57.89%	58.05%	59.19%	57.94%	57.86%	58.96%	58.56%	58.36%	58.44%	58.54%
Short-Term Debt to Total Capital	3.63%	3.74%	6.79%	3.80%	3.43%	3.39%	0.03%	0.51%	0.52%	0.04%	0.04%
Long-Term Debt to Total Capital	54.48%	54.15%	51.26%	55.39%	54.51%	54.48%	58.93%	58.05%	57.83%	58.40%	58.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.07%	0.07%	0.07%	0.08%	0.09%	0.08%	0.09%	0.09%	0.00%	0.00%	0.00%
Common Equity to Total Capital	41.82%	42.04%	41.87%	40.73%	41.98%	42.05%	40.96%	41.36%	41.64%	41.56%	41.46%
Debt to EBITDA	5.67	5.58	5.30	5.15	5.10	5.21	5.38	5.50	5.51	5.57	5.46
Net Debt to EBITDA	4.59	4.50	4.39	4.57	4.64	4.58	4.64	4.74	4.65	4.91	4.60
Long-Term Debt to EBITDA	5.32	5.22	4.68	4.82	4.79	4.91	5.38	5.45	5.46	5.57	5.46
Debt to NOPAT	15.98	16.80	14.15	13.45	13.78	13.81	14.70	15.57	15.10	15.85	15.76
Net Debt to NOPAT	12.93	13.55	11.73	11.94	12.54	12.13	12.67	13.43	12.74	13.99	13.25
Long-Term Debt to NOPAT	14.98	15.72	12.50	12.58	12.96	13.01	14.69	15.43	14.97	15.84	15.75
Altman Z-Score	2.29	2.64	2.42	2.20	2.44	2.30	2.18	2.35	2.19	1.98	1.82
Noncontrolling Interest Sharing Ratio	0.19%	0.19%	0.19%	0.20%	0.10%	0.10%	0.11%	0.11%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.65	1.63	1.16	1.22	1.10	1.13	2.05	2.02	2.28	1.80	2.37
Quick Ratio	1.43	1.36	1.00	1.02	0.90	0.98	1.79	1.81	2.03	1.50	1.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,365	-897	-2,196	-1,042	-1,225	-1,618	-1,992	-1,600	-1,884	-1,718	-3,450
Operating Cash Flow to CapEx	105.48%	94.60%	85.55%	179.17%	82.60%	81.42%	108.28%	116.14%	138.96%	73.36%	146.27%
Free Cash Flow to Firm to Interest Expense	-11.19	-6.36	-18.77	-9.47	-11.67	-15.71	-19.53	-16.00	-19.42	-18.27	-37.80
Operating Cash Flow to Interest Expense	6.63	6.96	6.48	8.29	5.70	9.70	7.70	7.41	7.13	8.08	8.99
Operating Cash Flow Less CapEx to Interest Expense	0.34	-0.40	-1.09	3.66	-1.20	-2.21	0.59	1.03	2.00	-2.93	2.84
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.26	0.26	0.26	0.26	0.26	0.26	0.26	0.25	0.25	0.25
Accounts Receivable Turnover	8.16	8.96	7.98	7.94	8.35	8.81	8.79	8.50	8.89	9.45	9.04
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.46	0.46	0.46	0.47	0.47	0.46	0.49	0.47	0.46	0.45	0.47
Accounts Payable Turnover	4.09	3.75	4.00	4.01	4.29	3.86	4.15	4.26	4.40	3.98	4.18
Days Sales Outstanding (DSO)	44.73	40.74	45.72	45.97	43.72	41.44	41.55	42.95	41.07	38.63	40.39
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	89.29	97.24	91.33	91.05	85.07	94.61	88.03	85.66	82.87	91.66	87.34
Cash Conversion Cycle (CCC)	-44.56	-56.49	-45.61	-45.08	-41.35	-53.17	-46.48	-42.71	-41.80	-53.04	-46.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,539	28,572	29,222	28,152	27,773	27,603	26,666	26,733	26,244	25,694	24,319
Invested Capital Turnover	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.30	0.30	0.29	0.32
Increase / (Decrease) in Invested Capital	1,766	969	2,556	1,419	1,529	1,909	2,347	1,882	2,201	1,924	3,736
Enterprise Value (EV)	95,010	106,022	99,910	87,311	92,148	89,221	81,321	86,175	79,094	72,519	63,022
Market Capitalization	79,360	90,978	84,276	71,437	76,674	74,107	66,541	71,466	64,879	58,247	49,777
Book Value per Share	$142.70	$140.20	$143.11	$129.37	$129.92	$133.03	$127.04	$128.57	$129.38	$124.34	$122.47
Tangible Book Value per Share	$70.56	$68.47	$66.10	$53.56	$53.39	$53.76	$48.81	$47.95	$47.94	$42.73	$42.47
Total Capital	33,212	32,180	32,449	30,145	29,300	29,699	29,024	29,075	28,887	27,684	26,901
Total Debt	19,299	18,628	18,837	17,842	16,976	17,185	17,112	17,026	16,858	16,179	15,747
Total Long-Term Debt	18,095	17,424	16,634	16,696	15,970	16,179	17,104	16,878	16,706	16,169	15,737
Net Debt	15,626	15,020	15,610	15,849	15,449	15,089	14,755	14,684	14,215	14,272	13,246
Capital Expenditures (CapEx)	767	1,037	886	509	724	1,227	725	638	498	1,036	561
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-291	-306	-339	-186	-245	-684	-358	-304	-252	-430	-170
Debt-free Net Working Capital (DFNWC)	3,382	3,302	2,888	1,807	1,282	1,412	2,000	2,038	2,390	1,477	2,331
Net Working Capital (NWC)	2,178	2,098	685	661	276	406	1,992	1,890	2,239	1,467	2,321
Net Nonoperating Expense (NNE)	58	86	63	76	73	64	79	75	58	76	75
Net Nonoperating Obligations (NNO)	15,626	15,020	15,610	15,849	15,449	15,089	14,755	14,684	14,215	14,188	13,165
Total Depreciation and Amortization (D&A)	484	503	501	494	531	467	468	467	462	443	435
Debt-free, Cash-free Net Working Capital to Revenue	-3.29%	-3.50%	-3.94%	-2.20%	-2.95%	-8.35%	-4.50%	-3.94%	-3.35%	-5.92%	-2.39%
Debt-free Net Working Capital to Revenue	38.23%	37.75%	33.59%	21.37%	15.41%	17.24%	25.16%	26.37%	31.76%	20.33%	32.84%
Net Working Capital to Revenue	24.62%	23.98%	7.97%	7.82%	3.32%	4.96%	25.06%	24.45%	29.75%	20.20%	32.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.52	($0.18)	$3.11	$3.17	$2.44	$2.42	$2.94	$2.21	$2.78	$1.39	$2.30
Adjusted Weighted Average Basic Shares Outstanding	97.51M	95.46M	95.39M	94.92M	94.67M	93.62M	93.68M	93.54M	92.97M	91.57M	91.90M
Adjusted Diluted Earnings per Share	$3.50	($0.19)	$3.10	$3.16	$2.43	$2.40	$2.93	$2.21	$2.77	$1.38	$2.30
Adjusted Weighted Average Diluted Shares Outstanding	97.89M	95.83M	95.73M	95.17M	95.16M	94.01M	94.17M	93.86M	93.34M	91.83M	92.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	97.82M	97.33M	96.49M	94.94M	94.91M	94.62M	93.88M	93.56M	93.52M	92.74M	92.54M
Normalized Net Operating Profit after Tax (NOPAT)	415	120	365	364	305	296	351	285	319	213	290
Normalized NOPAT Margin	18.64%	5.33%	16.60%	16.87%	14.35%	14.03%	17.01%	14.12%	15.98%	11.40%	15.76%
Pre Tax Income Margin	17.62%	0.00%	15.90%	16.12%	13.02%	12.80%	14.36%	12.09%	15.72%	9.48%	13.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.83	0.65	3.69	3.90	3.41	3.35	3.68	3.20	4.04	2.69	3.58
NOPAT to Interest Expense	3.28	0.51	3.07	3.43	2.89	2.82	3.48	2.82	3.27	2.18	3.14
EBIT Less CapEx to Interest Expense	-2.46	-6.70	-3.88	-0.73	-3.49	-8.56	-3.43	-3.18	-1.09	-8.32	-2.57
NOPAT Less CapEx to Interest Expense	-3.00	-6.84	-4.50	-1.20	-4.00	-9.09	-3.62	-3.56	-1.87	-8.83	-3.01
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	183.48%	201.84%	154.71%	149.20%	155.18%	141.90%	144.63%	151.96%	145.58%	163.40%	160.75%
Augmented Payout Ratio	183.48%	201.84%	154.71%	149.20%	155.18%	141.90%	144.63%	151.96%	145.58%	163.40%	160.75%

Frequently Asked Questions About Equinix's Financials

When does Equinix's financial year end?

According to the most recent income statement we have on file, Equinix's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Equinix's net income changed over the last 9 years?

Equinix's net income appears to be on an upward trend, with a most recent value of $814 million in 2024, rising from $187.77 million in 2015. The previous period was $969 million in 2023. See where experts think Equinix is headed by visiting Equinix's forecast page.

What is Equinix's operating income?

Equinix's total operating income in 2024 was $1.33 billion, based on the following breakdown:

Total Gross Profit: $4.28 billion
Total Operating Expenses: $2.95 billion

How has Equinix revenue changed over the last 9 years?

Over the last 9 years, Equinix's total revenue changed from $2.73 billion in 2015 to $8.75 billion in 2024, a change of 220.9%.

How much debt does Equinix have?

Equinix's total liabilities were at $21.53 billion at the end of 2024, a 6.9% increase from 2023, and a 182.9% increase since 2015.

How much cash does Equinix have?

In the past 9 years, Equinix's cash and equivalents has ranged from $606.17 million in 2018 to $3.08 billion in 2024, and is currently $3.08 billion as of their latest financial filing in 2024.

How has Equinix's book value per share changed over the last 9 years?

Over the last 9 years, Equinix's book value per share changed from 47.92 in 2015 to 140.20 in 2024, a change of 192.6%.

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This page (NASDAQ:EQIX) was last updated on 5/20/2025 by MarketBeat.com Staff

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Equinix (EQIX) Financials

Frequently Asked Questions About Equinix's Financials

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Equinix (EQIX) Financials

Annual Income Statements for Equinix

Quarterly Income Statements for Equinix

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Quarterly Cash Flow Statements for Equinix

Annual Balance Sheets for Equinix

Quarterly Balance Sheets for Equinix

Annual Metrics And Ratios for Equinix

Quarterly Metrics And Ratios for Equinix

Frequently Asked Questions About Equinix's Financials

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