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EQIX · Nasdaq · United States · Real Estate Investment Trusts
In shortEQUINIX INC is profitable, burns cash and holds more cash than debt, with revenue growing (+5.4% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 20.0% | 83/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 14.6% | 79/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 9.8% | 49/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 10.7% | 71/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.32× | 43/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.09× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 3.51× | 19/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.58 | 12/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -4.3% | 3/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -0.30× | 0/100 |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 2.9% | 100/100 |
| Operating margin volatility | 1.8% | 93/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 8.3% | 63/100 |
|---|---|---|
| EPS growth, 3-year average | 21.5% | 100/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 6,636 | 7,263 | 8,188 | 8,748 | 9,217 |
| Cost of revenue | 3,472 | 3,751 | 4,228 | 4,467 | 4,508 |
| Gross profit | 3,163 | 3,512 | 3,960 | 4,281 | 4,709 |
| Operating income | 1,108 | 1,200 | 1,443 | 1,328 | 1,848 |
| Interest expense | 336 | 356 | 402 | 457 | 527 |
| Pre-tax income | 609 | 829 | 1,124 | 975 | 1,508 |
| Income tax | 109 | 124 | 155 | 161 | 160 |
| Net income | 500 | 705 | 969 | 815 | 1,350 |
| Diluted EPS | $5.53 | $7.67 | $10.31 | $8.50 | $13.76 |
| Diluted shares (millions) | 90 | 92 | 94 | 96 | 98 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
1.58 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Jul 29, 2026