COVERAGE / EQIX / Real Estate

EQUINIX INC

Real Estate Investment Trusts

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$9.22bn

Prior / $8.75bn

Change / +5.36%

SOURCE / 2026-02-11

Operating income

$1.85bn

Prior / $1.33bn

Change / +39.16%

SOURCE / 2026-02-11

Net income

$1.35bn

Prior / $0.82bn

Change / +65.64%

SOURCE / 2026-02-11

Diluted EPS

$13.76

Prior / $8.50

Change / +61.88%

SOURCE / 2026-02-11

Free cash flow

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-11

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

20.05%

Prior / 15.18%

Change / +4.87 pp

SOURCE / 2026-02-11

Return on avg. equity

9.75%

Prior / 6.27%

Change / +3.49 pp

SOURCE / 2026-02-11

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 9217000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "frame": "CY2025",
    "tag": "us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 1350000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "frame": "CY2025",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 1848000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 13.76,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 3911000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 40141000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 25963000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 14156000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 5125000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 3893000000,
    "accn": "0001101239-26-000032",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-11",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$9.22bn	$1.35bn	Not available	$13.76
2024-12-31	$8.75bn	$0.82bn	Not available	$8.50
2023-12-31	$8.19bn	$0.97bn	Not available	$10.31
2022-12-31	$7.26bn	$0.71bn	Not available	$7.67

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	74.56x	Unavailable	44.72x	6
P/S	10.98x	Unavailable	19.40x	3
P/B	7.15x	Unavailable	7.15x	3
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	Unavailable	Unavailable	4.62%	1

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-28 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 1025.9399,
  "tradingDate": "2026-09-17",
  "marketCap": 101231219667.67,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-28"
}

Company & operating context

EQUINIX INC is an SEC-reporting issuer listed on NASDAQ under EQIX. Its SEC industry description is Real Estate Investment Trusts. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Property owners and infrastructure REITs depend on occupancy, contractual income and financing. GAAP earnings and cash flow do not substitute for a reconciled FFO measure.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-11PERIOD / 2025-12-31

Annual-disclosure reading guide for EQIX: Occupancy, leasing spreads, maturity schedules and reconciled FFO disclosures. Filing metadata only; this note is not a substantive review of the full document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0059EQIXEarnings Review

EQIX: the annual earnings and cash-flow comparison ↗

EQUINIX INC

Research abstract

A two-period review of EQIX revenue, profitability and cash conversion; reported revenue growth was 5.36%.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0060EQIXCompany Research

EQIX: reading the FY2025 financial structure ↗

EQUINIX INC

Research abstract

Annual revenue of USD 9.217 billion and net income of USD 1.350 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Lease rollover, refinancing, development costs, tenant concentration and property values.

Occupancy, leasing spreads, maturity schedules and reconciled FFO disclosures.

REAL ESTATE SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-11
SEC annual filing · 2024-12-31 ↗Source date 2026-02-11
SEC annual filing · 2023-12-31 ↗Source date 2026-02-11
SEC annual filing · 2022-12-31 ↗Source date 2025-02-12
SEC issuer record ↗Source date 2026-09-18