(EQIX) Equinix - Overview
Sector: Real Estate | Industry: REIT - Specialty | Exchange: NASDAQ (USA) | Market Cap: 103.401m USD | Total Return: 26% in 12m
Avg Turnover: 526M
EPS Trend: 98.3%
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: -1
Warnings
No concerns identified
Tailwinds
Confidence
Equinix, Inc. (EQIX) is a global digital infrastructure company operating as a Real Estate Investment Trust (REIT). Founded in 1998, the firm specializes in providing colocation space and interconnection services that allow diverse networks and enterprises to link directly to one another. By maintaining a vast footprint of carrier-neutral data centers, Equinix facilitates the low-latency data exchange required for cloud computing, global financial markets, and artificial intelligence applications.
The company operates within the Data Center REIT sector, a specialized real estate class where revenue is primarily generated through long-term tenant leases and recurring interconnection fees. Unlike traditional wholesale data centers, Equinix focuses on an ecosystem model, where the value of the facility increases as more service providers and customers join the network. Analyzing the historical performance of these interconnection densities on ValueRay can provide deeper insights into the companys competitive moat.
As a REIT, Equinix is structurally required to distribute at least 90% of its taxable income to shareholders in the form of dividends. This business model combines the physical security of real estate assets with the high-growth demand of the global digital economy.
- Enterprise shift to hybrid multi-cloud architecture drives recurring interconnection revenue growth
- High capital expenditures for data center expansion impact adjusted funds from operations
- Increasing demand for AI-ready infrastructure accelerates high-density power capacity deployments
- Rising energy costs and power grid availability constrain global operational margins
- Interest rate fluctuations significantly influence cost of debt for REIT capital structures
| Net Income: 1.42b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 1.20 > 1.0 |
| NWC/Revenue: 8.54% < 20% (prev 24.62%; Δ -16.08% < -1%) |
| CFO/TA 0.09 > 3% & CFO 3.82b > Net Income 1.42b |
| Net Debt (24.0b) to EBITDA (4.30b): 5.57 < 3 |
| Current Ratio: 1.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (98.7m) vs 12m ago 0.86% < -2% |
| Gross Margin: 51.26% > 18% (prev 0.50%; Δ 5.08k% > 0.5%) |
| Asset Turnover: 24.57% > 50% (prev 24.52%; Δ 0.06% > 0%) |
| Interest Coverage Ratio: 3.86 > 6 (EBITDA TTM 4.30b / Interest Expense TTM 562.0m) |
| A: 0.02 (Total Current Assets 5.35b - Total Current Liabilities 4.54b) / Total Assets 40.9b |
| B: 0.16 (Retained Earnings 6.51b / Total Assets 40.9b) |
| C: 0.06 (EBIT TTM 2.17b / Avg Total Assets 38.5b) |
| D: 0.19 (Book Value of Equity 5.17b / Total Liabilities 26.6b) |
| Altman-Z'' = 1.23 = BB |
| DSRI: 0.95 (Receivables 1.11b/1.09b, Revenue 9.46b/8.85b) |
| GMI: 0.97 (GM 51.26% / 49.58%) |
| AQI: 0.98 (AQ_t 0.25 / AQ_t-1 0.25) |
| SGI: 1.07 (Revenue 9.46b / 8.85b) |
| TATA: -0.06 (NI 1.42b - CFO 3.82b) / TA 40.9b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at USD 1079.79 with a total of 425,927 shares traded.
Over the past week, the price has changed by +2.42%,
over one month by -2.13%,
over three months by +14.62% and
over the past year by +25.95%.
Equinix has received a consensus analysts rating of 4.42. Therefore, it is recommended to buy EQIX.
- StrongBuy: 20
- Buy: 5
- Hold: 5
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 1197.1 | 10.9% |
P/E Trailing = 72.4554
P/E Forward = 60.241
P/S = 10.8546
P/B = 7.395
P/EG = 3.5162
Revenue TTM = 9.46b USD
EBIT TTM = 2.17b USD
EBITDA TTM = 4.30b USD
Long Term Debt = 17.7b USD (from longTermDebt, last quarter)
Short Term Debt = 2.21b USD (from shortTermDebt, last quarter)
Debt = 27.0b USD (from shortLongTermDebtTotal, last quarter) + Leases 3.72b
Net Debt = 24.0b USD (calculated: Debt 27.0b - CCE 3.05b)
Enterprise Value = 127b USD (103b + Debt 27.0b - CCE 3.05b)
Interest Coverage Ratio = 3.86 (Ebit TTM 2.17b / Interest Expense TTM 562.0m)
EV/FCF = 143.4x (Enterprise Value 127b / FCF TTM 888.0m)
FCF Yield = 0.70% (FCF TTM 888.0m / Enterprise Value 127b)
FCF Margin = 9.39% (FCF TTM 888.0m / Revenue TTM 9.46b)
Net Margin = 15.03% (Net Income TTM 1.42b / Revenue TTM 9.46b)
Gross Margin = 51.26% ((Revenue TTM 9.46b - Cost of Revenue TTM 4.61b) / Revenue TTM)
Gross Margin QoQ = 51.47% (prev 50.94%)
Tobins Q-Ratio = 3.11 (Enterprise Value 127b / Total Assets 40.9b)
Interest Expense / Debt = 2.08% (Interest Expense 562.0m / Debt 27.0b)
Taxrate = 11.89% (56.0m / 471.0m)
NOPAT = 1.91b (EBIT 2.17b * (1 - 11.89%))
Current Ratio = 1.18 (Total Current Assets 5.35b / Total Current Liabilities 4.54b)
Debt / Equity = 1.89 (Debt 27.0b / totalStockholderEquity, last quarter 14.3b)
Debt / EBITDA = 5.57 (Net Debt 24.0b / EBITDA 4.30b)
Debt / FCF = 26.99 (Net Debt 24.0b / FCF TTM 888.0m)
Total Stockholder Equity = 14.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.69% (Net Income 1.42b / Total Assets 40.9b)
RoE = 10.03% (Net Income TTM 1.42b / Total Stockholder Equity 14.2b)
RoCE = 6.80% (EBIT 2.17b / Capital Employed (Equity 14.2b + L.T.Debt 17.7b))
RoIC = 5.03% (NOPAT 1.91b / Invested Capital 38.0b)
WACC = 6.54% (E(103b)/V(130b) * Re(7.77%) + D(27.0b)/V(130b) * Rd(2.08%) * (1-Tc(0.12)))
Discount Rate = 7.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 1.88%
[DCF] Terminal Value 77.97% ; FCFF base≈673.2m ; Y1≈771.7m ; Y5≈1.14b
[DCF] Fair Price = N/A (negative equity: EV 17.1b - Net Debt 24.0b = -6.88b; debt exceeds intrinsic value)
EPS Correlation: 98.35 | EPS CAGR: 21.20% | SUE: -0.00 | # QB: 0
Revenue Correlation: 99.19 | Revenue CAGR: 6.94% | SUE: -4.0 | # QB: -1
EPS current Quarter (2026-06-30): EPS=4.78 | Chg30d=+13.99% | Revisions=+43% | Analysts=4
EPS next Quarter (2026-09-30): EPS=4.34 | Chg30d=+3.49% | Revisions=+14% | Analysts=4
EPS current Year (2026-12-31): EPS=17.75 | Chg30d=+6.41% | Revisions=+43% | GrowthEPS=+21.1% | GrowthRev=+11.0%
EPS next Year (2027-12-31): EPS=19.22 | Chg30d=+9.11% | Revisions=+50% | GrowthEPS=+8.3% | GrowthRev=+10.0%
[Analyst] Revisions Ratio: +50%