EQIX Financials Equinix

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:17 UTC Overview →

Growth & profitability

Revenue has grown 9.0% per year over the past 5 years.
Net income has grown faster than revenue (29.6% vs 9.0% per year).
Operating margin has expanded, at 20.0% in the latest year.

Financial health

Total debt has grown in line with revenue (8.1% vs 9.0% per year).
Operating income covered interest expense 3.5× in the latest year.

Shareholder returns

Dividends have been paid for 12 consecutive years, consuming 137.5% of earnings.
The dividend has grown 14.4% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$9.2B	$1.4B	51.1%	20.0%	9.5%	3.4%	-$400M	—	$1.7B
2024	$8.7B	$815M	48.9%	15.2%	6.0%	2.3%	$183M	$15.3B	$3.1B
2023	$8.2B	$969M	48.4%	17.6%	7.8%	3.0%	$436M	$13.8B	$2.1B
2022	$7.3B	$705M	48.4%	16.5%	6.1%	2.3%	$685M	$12.9B	$1.9B
2021	$6.6B	$500M	47.7%	16.7%	4.6%	1.8%	-$204M	$11.7B	$1.5B
2020	$6.0B	$370M	48.7%	17.6%	3.5%	1.4%	$27M	$10.6B	$1.6B
2019	$5.6B	$507M	49.5%	21.0%	5.7%	2.1%	-$87M	$10.4B	$1.9B
2018	—	$365M	—	—	5.1%	1.8%	-$281M	$9.9B	$606M
2017	—	$233M	—	—	3.4%	1.2%	$61M	$8.5B	$1.4B
2016	—	$127M	—	—	2.9%	1.0%	-$94M	$5.3B	$748M
2015	—	$188M	—	—	6.8%	1.8%	$27M	$5.2B	$2.2B
2014	—	-$260M	—	—	-11.4%	-3.3%	$49M	$3.5B	$611M
2013	—	$95M	—	—	3.9%	1.3%	$32M	$3.3B	$262M
2012	—	$140M	—	—	6.1%	2.3%	-$467M	$2.4B	$252M
2011	—	$95M	—	—	4.9%	1.6%	$559M	$2.7B	$279M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$2.6B	$489M	51.1%	23.3%	3.4%	1.1%	—	$22.8B	$2.4B
Jun '26	$2.6B	$479M	53.1%	25.3%	3.3%	1.2%	—	$19.9B	$979M
Mar '26	$2.4B	$415M	51.5%	23.6%	2.9%	1.0%	-$539M	$19.8B	$1.4B
Dec '25	$2.4B	$265M	50.5%	17.4%	1.9%	0.7%	-$292M	—	$1.7B
Sep '25	$2.3B	$374M	50.7%	20.5%	2.6%	1.0%	-$122M	$17.3B	$2.1B
Jun '25	$2.3B	$368M	52.0%	21.9%	2.6%	0.9%	-$45M	$18.1B	$3.7B
Mar '25	$2.2B	$343M	51.3%	20.6%	2.5%	1.0%	$59M	$15.9B	$3.0B
Dec '24	$2.3B	-$14M	47.1%	4.6%	-0.1%	-0.0%	-$6M	$15.3B	$3.1B
Sep '24	$2.2B	$297M	50.1%	19.3%	2.2%	0.8%	$34M	$15.4B	$2.8B
Jun '24	$2.2B	$301M	49.9%	20.2%	2.5%	0.9%	$264M	$14.5B	$2.0B
Mar '24	$2.1B	$231M	48.7%	17.1%	1.9%	0.7%	-$109M	$13.7B	$1.5B
Dec '23	$2.1B	$227M	48.2%	16.4%	1.8%	0.7%	$3M	$13.8B	$2.1B
Sep '23	$2.1B	$276M	48.1%	18.5%	2.3%	0.9%	$168M	$13.7B	$2.4B
Jun '23	$2.0B	$207M	47.4%	16.4%	1.7%	0.7%	$103M	$13.5B	$2.3B
Mar '23	$2.2B	$259M	54.8%	17.3%	2.2%	0.8%	$162M	$13.5B	$2.6B
Dec '22	$1.9B	$129M	48.1%	15.1%	1.1%	0.4%	-$68M	$12.9B	$1.9B
Sep '22	$1.8B	$212M	49.2%	18.1%	1.9%	0.7%	$268M	$12.7B	$2.5B
Jun '22	$1.8B	$216M	48.8%	17.5%	2.0%	0.7%	$317M	$12.9B	$1.9B
Mar '22	$1.7B	$147M	47.2%	15.4%	1.3%	0.5%	$169M	$11.8B	$1.7B
Dec '21	$1.7B	$123M	46.6%	14.6%	1.1%	0.4%	$75M	$11.7B	$1.5B

Valuation over time

How the market has priced EQIX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 101.2× (Mar '23) to 72.9× (Nov '26).
The price-to-sales ratio has risen from 9.8× (Mar '23) to 10.7× (Nov '26).
The dividend yield has risen from 1.6% (Mar '23) to 1.9% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is EQIX growing its revenue and profit?

Over the past 5 years, Equinix's revenue has grown 9.0% per year, and net income grown 29.6% per year. These are computed facts, not advice.

How much debt does EQIX have?

As of FY2025, Equinix reported — of total debt against $1.7B of cash; operating income covered interest expense 3.5×.

What is EQIX's profit margin?

In FY2025, gross margin was 51.1%, operating margin 20.0%, and net margin 14.6%.

What is EQIX's P/E ratio?

Equinix's P/E (TTM) is 59.69 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the EQIX stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 72.9× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.