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Equinix, Inc. shortens the path to boundless connectivity anywhere in the world. Its digital infrastructure, data center footprint and interconnected ecosystems empower innovations that enhance our work, life and planet. Equinix connects economies, countries, organizations and communities, delivering seamless digital experiences and cutting-edge AI quickly, efficiently and everywhere. Equinix, Inc. was established on June 22, 1998 and incorporated in Delaware.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $9.2B | $4.1B | $1.4B | $-400M | 9.5% | 5.4% | 65.6% |
| 2024 | $8.7B | $3.4B | $815M | $183M | 6.0% | 6.8% | -15.9% |
| 2023 | $8.2B | $3.4B | $969M | $436M | 7.8% | 12.7% | 37.4% |
| 2022 | $7.3B | $2.9B | $705M | $685M | 6.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 7,263 | 8,188 | 8,748 | 9,217 |
| Cost Of Revenue | - | 3,751 | 4,228 | 4,467 | 4,508 |
| Gross Profit | - | 3,512 | 3,960 | 4,281 | 4,709 |
| Operating Expense | - | 2,286 | 2,509 | 2,657 | 2,743 |
| Operating Income | - | 1,226 | 1,451 | 1,624 | 1,966 |
| EBITDA | - | 2,922 | 3,370 | 3,443 | 4,101 |
| EBIT | - | 1,185 | 1,526 | 1,432 | 2,035 |
| Pretax Income | - | 829 | 1,124 | 975 | 1,508 |
| Tax Provision | - | 124 | 155 | 161 | 160 |
| Net Income | - | 705 | 969 | 815 | 1,350 |
| Net Income Common Stockholders | - | 705 | 969 | 815 | 1,350 |
| Total Expenses | - | 6,037 | 6,737 | 7,124 | 7,251 |
| Interest Expense | - | 356 | 402 | 457 | 527 |
| Interest Income | - | 36 | 94 | 137 | 193 |
| Selling General And Administration | - | 2,286 | 2,509 | 2,657 | 2,743 |
| Normalized EBITDA | - | 2,948 | 3,378 | 3,755 | 4,218 |
| Normalized Income | - | 727.11 | 975.90 | 1,075.52 | 1,454.60 |
| Market Cap | 109,350 | 109,350 | 109,350 | 109,350 | 109,350 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Equinix, Inc.this co. | EQIX | $108.5B | 81.00↑ premium | 7.72 | 9.5% | 31.78 |
| Welltower Inc. | WELL | $138.7B | 156.99 | 3.49 | 2.2% | 70.73 |
| American Tower Corporation | AMT | $83.3B | 32.86 | 22.75 | 69.3% | 19.64 |
| Digital Realty Trust, Inc. | DLR | $70.2B | 53.33 | 3.14 | 5.9% | 23.38 |
| Simon Property Group, Inc. | SPG | $65.7B | 16.55 |
| - |
| - |
| - |
| - |
| 14.82 |
| 89.5% |
| 13.23 |
| Public Storage | PSA | $60.9B | 30.33 | 11.05 | 36.4% | 19.73 |
| Realty Income Corporation | O | $57.3B | 55.78 | 1.50 | 2.7% | 18.38 |
| CBRE Group, Inc. | CBRE | $44.2B | 37.53 | 4.89 | 13.0% | 25.48 |
| Ventas, Inc. | VTR | $38.2B | 158.16 | 3.17 | 2.0% | 23.00 |
| Peer Median | - | 45.43 | 4.19 | 9.5% | 21.37 | |