Equinix

Real Estate Data Center REITs Redwood City, California Last filing Feb 11, 2026 · FY2025

                    Revenue
                    FY2025
                
$9.2B
                    3y CAGR +8.3%
                    
                    P57
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.4B
                    Net margin +14.6%
                    
                    P40
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$40.1B
                    ROA +3.4%
                    
                    P48
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$3.9B
                    
                    n/a

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 1 year

Total assets $40.1B

Total liabilities $26.0B

Shareholders equity $14.2B

Account	2025	Trend
Assets
Cash and Cash Equivalents	18.7%
Short Term Investments	16.3%
Accounts Receivable	10.9%
Prepaid Expenses	9.7%
Other Current Assets	9.7%
Total Current Assets	55.6%
Property,Plant and Equipment	255.9%
Operating Lease Assets	15.1%
Goodwill	64.9%
Intangible Assets	14.3%
Long Term Investments	6.0%
Other Noncurrent Assets	29.7%
Total Assets	435.5%
Liabilities
Accounts Payable	14.6%
Accrued Liabilities	0.0%
Deferred Revenue	1.4%
Operating Lease Liabilities	1.7%
Other Current Liabilities	3.7%
Total Current Liabilities	42.2%
Long Term Debt	0.0%
Deferred Revenue Noncurrent	1.8%
Operating Lease Liabilities Noncurrent	14.1%
Deferred Tax Liabilities	0.0%
Other Noncurrent Liabilities	10.7%
Total Liabilities	281.7%
Equity
Preferred Stock	0.0%
Common Stock	0.0%
Additional Paid In Capital	234.8%
Retained Earnings	66.2%
Treasury Stock	0.0%
Accumulated Other Comprehensive Income	-14.7%
Noncontrolling Interest	-0.0%
Total Stockholders Equity	153.6%
Total Liabilitiesand Equity	435.5%

Income Statement

Revenue, expense, and profitability

19 accounts · 1 year

Revenue $9.2B

Operating income $1.8B

Net income $1.4B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	48.9%
Expenses Selling,General and Administrative	20.0%
Expenses Depreciation and Amortization	22.2%
Expenses Share Based Compensation	5.4%
Expenses Restructuring and Asset Impairment	0.4%
Expenses Operating Expenses	80.0%
Other Income Expense Operating Income	20.0%
Other Income Expense Interest Income	2.1%
Other Income Expense Interest Expense	1.3%
Other Income Expense Other Income/expense	-0.1%
Other Income Expense Income Before Tax	16.4%
Income Tax Income Tax Expense	1.7%
net Income net Income	14.6%
net Income Comprehensive Income	18.7%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	1.1%
Earnings Per Share Weighted Average Shares Diluted	1.1%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 1 year

Operating cash flow $3.9B

Investing cash flow $-6.5B

Financing cash flow $1.3B

Account	2025	Trend
CashFlow
Operating Activities net Income	14.6%
Operating Activities Depreciation and Amortization	22.2%
Operating Activities Stock Based Compensation	5.4%
Operating Activities Deferred Income Taxes	-0.6%
Operating Activities Changes In Operating Assets and Liabilities	-1.3%
Operating Activities net Cash From Operating Activities	42.4%
Investing Activities Business Acquisitions	2.7%
Investing Activities net Cash From Investing Activities	-70.3%
Financing Activities Proceeds From Debt	46.8%
Financing Activities Repayment of Debt	13.0%
Financing Activities Dividends Paid	20.1%
Financing Activities Proceeds From Stock Issuance	1.0%
Financing Activities Other Financing Activities	-0.3%
Financing Activities net Cash From Financing Activities	13.8%
Cash Reconciliation Effect of Exchange Rate On Cash	0.5%
Cash Reconciliation net Change In Cash	-13.6%
Cash Reconciliation Cash At Beginning of Period	19.8%
Cash Reconciliation Cash At End of Period	19.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+51.1%
Operating margin	+20.0%
Net margin	+14.6%
FCF margin	—
Growth
Revenue CAGR (3y)	+8.3%
Returns
ROE	+9.5%
ROA	+3.4%
ROIC	+13.3%
Liquidity
Current ratio	1.32x
Quick ratio	0.70x
Leverage
D/E	1.83x
Interest coverage	15.27x
Efficiency
Asset turnover	0.23x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Operating, investing, and financing flows

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