Equinix Inc. is a US-based REIT specializing in global data center and colocation services since 1998. The company’s revenue model centers on leasing its flagship IBX facilities and advanced interconnection solutions, including the ECX Fabric, to major enterprise and cloud customers. Led by CEO Charles Meyers, Equinix leverages a network of over 240 data centers in 28 countries to maintain a competitive market edge. With strategic expansion plans and ongoing investments in hybrid cloud and edge computing, the company is well-positioned for future growth.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
9,217,000
8,748,000
8,188,000
7,263,000
Total Property Expenses
4,508,000
4,467,000
4,228,000
3,751,000
Gross Profit
4,709,000
4,281,000
3,960,000
3,512,000
Selling, General & Administrative Expenses
2,743,000
2,657,000
2,509,000
2,286,000
Other Operating Expenses
118,000
296,000
8,000
26,000
Operating Profit
1,848,000
1,328,000
1,443,000
1,200,000
Interest and Investment Income
193,000
137,000
94,000
36,000
Interest Expense
(527,000)
(457,000)
(402,000)
(356,000)
Non-Operating Income
(6,000)
(33,000)
(11,000)
(51,000)
Total Non-Operating Income
(340,000)
(353,000)
(319,000)
(371,000)
Income Before Provision for Income Taxes
1,508,000
975,000
1,124,000
829,000
Provision for Income Taxes
160,000
161,000
155,000
124,000
Consolidated Net Income
1,348,000
814,000
969,000
705,000
Net Income Attributable to Minority Interests and Other
(2,000)
(1,000)
—
—
Net Income Attributable to Common Shareholders
1,350,000
815,000
969,000
705,000
Basic EPS
13.79
8.54
10.35
7.69
Diluted EPS
13.76
8.50
10.31
7.67
Basic Weighted Average Shares Outstanding
97,883
95,457
93,615
91,569
Diluted Weighted Average Shares Outstanding
98,123
95,827
94,009
91,828
Shares Outstanding
98,226
97,287
94,479
92,621
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
1,727,000
3,081,000
2,096,000
1,906,420
Short-Term Investments
1,500,000
527,000
—
—
Total Cash and Cash Equivalents
3,227,000
3,608,000
2,096,000
1,906,420
Accounts Receivable
1,001,000
949,000
1,004,000
855,380
Total Trade Receivables
1,001,000
949,000
1,004,000
855,380
Other Current Assets
897,000
890,000
468,000
543,454
Total Current Assets
5,125,000
5,447,000
3,568,000
3,305,260
Net Property, Plant & Equipment
24,976,000
20,668,000
20,050,000
18,077,500
Net Intangible Assets
1,316,000
1,417,000
1,705,000
1,897,650
Goodwill
5,984,000
5,504,000
5,737,000
5,654,220
Other Long-Term Assets
2,740,000
2,049,000
1,591,000
1,376,140
Total Assets
40,141,000
35,085,000
32,651,000
30,310,700
Accounts Payable
1,350,000
1,193,000
1,187,000
1,004,800
Accrued Expenses
564,000
387,000
398,000
281,347
Current Portion of Long-Term Debt
1,316,000
1,204,000
1,006,000
9,847
Current Portion of Leases
323,000
333,000
269,000
290,958
Other Current Liabilities
340,000
232,000
302,000
251,346
Total Current Liabilities
3,893,000
3,349,000
3,162,000
1,838,300
Long-Term Debt
17,596,000
14,007,000
12,725,000
12,752,200
Leases
3,491,000
3,417,000
3,454,000
3,416,500
Other Long-Term Liabilities
983,000
760,000
796,000
797,863
Total Long-Term Liabilities
22,070,000
18,184,000
16,975,000
16,966,600
Total Liabilities
25,963,000
21,533,000
20,137,000
18,804,900
Common Stock
—
—
—
93
Treasury Stock
(24,000)
(39,000)
(56,000)
(71,966)
Additional Paid-in Capital
21,642,000
20,895,000
18,596,000
17,320,000
Accumulated Other Comprehensive Income
(1,359,000)
(1,735,000)
(1,290,000)
(1,389,450)
Retained Earnings
(6,103,000)
(5,593,000)
(4,761,000)
(4,352,730)
Total Common Shareholders' Equity
14,156,000
13,528,000
12,489,000
11,506,000
Minority Interests and Other
22,000
24,000
25,000
(134)
Total Shareholders' Equity
14,153,000
13,527,000
12,489,000
11,505,800
Total Liabilities and Shareholders' Equity
40,141,000
35,085,000
32,651,000
30,310,700
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
1,348,000
814,000
969,000
705,000
Depreciation & Amortization
2,066,000
2,011,000
1,844,000
1,737,000
Share-Based Compensation Expense
498,000
462,000
407,000
404,000
Other Adjustments
100,000
302,000
74,000
92,000
Changes in Trade Receivables
(40,000)
27,000
(150,000)
(154,000)
Changes in Accounts Payable
25,000
95,000
161,000
114,000
Changes in Income Taxes Payable
(78,000)
(9,000)
4,000
(8,000)
Changes in Other Operating Activities
(8,000)
(453,000)
(92,000)
73,000
Cash from Operating Activities
3,911,000
3,249,000
3,217,000
2,963,000
Capital Expenditure
(5,305,000)
(3,403,000)
(3,165,000)
(2,526,000)
Proceeds from Sale of Property, Plant & Equipment
—
247,000
77,000
250,000
Purchases of Investments
(2,027,000)
(618,000)
(136,000)
(145,000)
Proceeds from Sale of Investments
1,005,000
—
—
22,000
Payments for Business Acquisitions
(251,000)
—
—
(964,000)
Other Investing Activities
98,000
(163,000)
—
—
Cash from Investing Activities
(6,484,000)
(3,937,000)
(3,224,000)
(3,363,000)
Issuance of Long-Term Debt
4,311,000
2,768,000
902,000
1,871,000
Repayments of Long-Term Debt
(1,355,000)
(1,140,000)
(149,000)
(722,000)
Net Issuance / (Repayments) of Long-Term Debt
2,956,000
1,628,000
753,000
1,149,000
Issuance of Common Shares
194,000
1,764,000
821,000
878,000
Net Issuance / (Repurchases) of Common Shares
194,000
1,764,000
821,000
878,000
Common Share Dividends Paid
(1,856,000)
(1,643,000)
(1,375,000)
(1,152,000)
Other Financing Activities
(22,000)
(26,000)
12,000
(18,000)
Cash from Financing Activities
1,272,000
1,723,000
211,000
857,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents
43,000
(49,000)
(16,000)
(98,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash