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EQUINIX INC EQIX

Nasdaq · reit · Real Estate Investment Trusts · website · IPO 2000-08-11 · LEI

EQUINIX INC statistics & valuation

Market cap$107.0B
P / E79.3×
P / S11.6×
P / B7.6×
Dividend yield1.73%
Net margin14.6%
Return on equity9.5%
Return on capital5.1%
Graham number -80.3%$211.23

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($211.23); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
3.50% 5.30% 7.20% 9.10% 6.20% 7.50% 9.70% 11.80% 9.30% 14.60% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
17.10% 18.50% 19.30% 21.00% 17.60% 16.70% 16.50% 17.60% 15.20% 20.00% 2016201720182019202020212022202320242025
Return on equity (%)
2.90% 3.40% 5.10% 5.70% 3.50% 4.60% 6.10% 7.80% 6.00% 9.50% 2016201720182019202020212022202320242025
Shares outstanding
71.4M 79.0M 80.7M 85.3M 89.1M 90.6M 92.6M 94.5M 97.3M 98.2M 2016201720182019202020212022202320242025
Net debt ($)
$4.56B $7.06B $9.28B $8.53B $9.03B $10.19B $10.97B $11.74B $12.25B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.00% 1.20% 1.80% 2.10% 1.40% 1.80% 2.30% 3.00% 2.30% 3.40% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
1.22× 1.24× 1.37× 1.18× 1.00× 1.08× 1.12× 1.11× 1.13× 2016201720182019202020212022202320242025
EPS ($)
$1.79 $3.00 $4.56 $5.99 $4.18 $5.53 $7.67 $10.31 $8.50 $13.76 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

EQUINIX INC trades at about 78× earnings — below its 10-year norm (10-year range 59.7×–215.1×, median 107.5×).

59.7× 215.1×

Shaded band = 10-year range (59.7×–215.1×); dot = today's 78×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin20.0%15.2%17.6%16.5%16.7%17.6%21.0%19.3%18.5%17.1%
Net margin14.6%9.3%11.8%9.7%7.5%6.2%9.1%7.2%5.3%3.5%
Return on assets3.4%2.3%3.0%2.3%1.8%1.4%2.1%1.8%1.2%1.0%
Return on equity9.5%6.0%7.8%6.1%4.6%3.5%5.7%5.1%3.4%2.9%
Debt / equity—1.13×1.11×1.12×1.08×1.00×1.18×1.37×1.24×1.22×
Current ratio1.321.631.131.801.841.291.331.001.811.43

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.