Equinix (EQIX) Financials

$767.98 -22.17 (-2.81%)

As of 01:02 PM Eastern

Annual Income Statements for Equinix

This table shows Equinix's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	188	127	233	365	507	370	500	705	969	815
Consolidated Net Income / (Loss)	188	127	233	365	507	370	500	705	969	814
Net Income / (Loss) Continuing Operations	188	114	233	365	507	370	500	705	969	814
Total Pre-Tax Income	211	160	287	433	693	516	609	829	1,124	975
Total Operating Income	567	619	809	977	1,170	1,053	1,108	1,200	1,443	1,328
Total Gross Profit	1,434	1,791	2,175	2,466	2,752	2,924	3,163	3,512	3,960	4,281
Total Revenue	2,726	3,612	4,368	5,072	5,562	5,999	6,636	7,263	8,188	8,748
Operating Revenue	2,726	3,612	4,368	5,072	5,562	5,999	6,636	7,263	8,188	8,748
Total Cost of Revenue	1,292	1,821	2,193	2,605	2,810	3,074	3,472	3,751	4,228	4,467
Operating Cost of Revenue	1,292	1,821	2,193	2,605	2,810	3,074	3,472	3,751	4,228	4,467
Total Operating Expenses	867	1,172	1,366	1,489	1,582	1,871	2,055	2,312	2,517	2,953
Selling, General & Admin Expense	493	695	746	827	935	1,091	1,302	1,499	1,654	1,766
Marketing Expense	332	439	582	634	651	718	741	787	855	891
Impairment Charge	0.00	7.70	0.00	0.00	16	7.31	-	0.00	0.00	233
Restructuring Charge	42	64	39	34	25	56	23	22	13	81
Other Special Charges / (Income)	0.00	-33	0.00	-6.01	-44	-1.30	-11	4.00	-5.00	-18
Total Other Income / (Expense), net	-356	-459	-522	-544	-477	-537	-499	-371	-319	-353
Interest Expense	299	404	544	573	480	552	451	356	402	473
Interest & Investment Income	3.58	3.48	13	14	-25	8.65	2.64	36	94	137
Other Income / (Expense), net	-61	-58	9.21	14	28	6.91	-51	-51	-11	-17
Income Tax Expense	23	45	54	68	185	146	109	124	155	161
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	-0.21	0.30	-0.46	0.00	0.00	-1.00
Basic Earnings per Share	$3.25	$1.81	$3.03	$4.58	$6.03	$4.22	$5.57	$7.69	$10.35	$8.54
Weighted Average Basic Shares Outstanding	57.79M	70.12M	76.85M	79.78M	84.14M	87.70M	89.77M	91.57M	93.62M	95.46M
Diluted Earnings per Share	$3.21	$1.79	$3.00	$4.56	$5.99	$4.18	$5.53	$7.67	$10.31	$8.50
Weighted Average Diluted Shares Outstanding	58.48M	70.82M	77.54M	80.20M	84.68M	88.41M	90.41M	91.83M	94.01M	95.83M
Weighted Average Basic & Diluted Shares Outstanding	57.80M	70.10M	76.90M	87.20M	85.44M	89.29M	90.72M	92.74M	94.62M	97.33M
Cash Dividends to Common per Share	$17.71	$7.00	$8.00	$9.12	$9.84	$10.64	$11.48	$12.40	$14.49	$17.04

This table shows Equinix's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Operating Income	333	282	384	332	381	346	364	436	425	103
Total Gross Profit	906	901	992	958	992	1,018	1,036	1,077	1,103	1,065
Total Revenue	1,841	1,871	1,998	2,019	2,061	2,110	2,127	2,159	2,201	2,261
Operating Revenue	1,841	1,871	1,998	2,019	2,061	2,110	2,127	2,159	2,201	2,261
Total Cost of Revenue	935	970	1,006	1,061	1,069	1,092	1,091	1,082	1,098	1,196
Operating Cost of Revenue	935	970	1,006	1,061	1,069	1,092	1,091	1,082	1,098	1,196
Total Operating Expenses	573	619	608	626	611	672	672	641	678	962
Selling, General & Admin Expense	375	400	395	406	404	449	444	437	434	451
Marketing Expense	193	208	210	216	212	217	226	219	237	209
Restructuring Charge	2.01	11	2.00	6.00	-1.00	6.00	2.00	3.00	7.00	69
Total Other Income / (Expense), net	-87	-104	-70	-88	-85	-76	-87	-88	-75	-103
Interest Expense	91	94	97	100	102	103	105	110	117	141
Interest & Investment Income	11	18	19	24	23	28	24	29	35	49
Other Income / (Expense), net	-6.74	-28	8.00	-12	-6.00	-1.00	-6.00	-7.00	7.00	-11
Net Income / (Loss) Attributable to Common Shareholders	212	129	259	207	276	227	231	301	297	-14
Consolidated Net Income / (Loss)	212	129	259	207	276	227	231	301	296	-14
Net Income / (Loss) Continuing Operations	212	129	259	207	276	227	231	301	296	-14
Income Tax Expense	35	48	55	37	20	43	46	47	54	14
Basic Earnings per Share	$2.30	$1.39	$2.78	$2.21	$2.94	$2.42	$2.44	$3.17	$3.11	($0.18)
Weighted Average Basic Shares Outstanding	91.90M	91.57M	92.97M	93.54M	93.68M	93.62M	94.67M	94.92M	95.39M	95.46M
Diluted Earnings per Share	$2.30	$1.38	$2.77	$2.21	$2.93	$2.40	$2.43	$3.16	$3.10	($0.19)
Weighted Average Diluted Shares Outstanding	92.14M	91.83M	93.34M	93.86M	94.17M	94.01M	95.16M	95.17M	95.73M	95.83M
Weighted Average Basic & Diluted Shares Outstanding	92.54M	92.74M	93.52M	93.56M	93.88M	94.62M	94.91M	94.94M	96.49M	97.33M

This table details how cash moves in and out of Equinix's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	2,090	-1,945	646	-823	1,259	-261	-76	359	188	986
Net Cash From Operating Activities	895	1,019	1,439	1,815	1,993	2,310	2,547	2,963	3,217	3,249
Net Cash From Continuing Operating Activities	895	1,019	1,439	1,815	1,993	2,310	2,547	2,963	3,217	3,249
Net Income / (Loss) Continuing Operations	188	127	233	365	507	370	500	705	969	814
Consolidated Net Income / (Loss)	188	127	233	365	507	370	500	705	969	814
Depreciation Expense	498	714	865	1,024	1,089	1,224	1,451	1,532	1,637	1,801
Amortization Expense	43	142	201	217	209	215	223	223	227	228
Non-Cash Adjustments To Reconcile Net Income	154	169	236	253	281	622	647	478	600	896
Changes in Operating Assets and Liabilities, net	11	-133	-96	-44	-93	-121	-273	25	-216	-490
Net Cash From Investing Activities	-638	-2,046	-5,401	-3,076	-1,945	-3,427	-3,007	-3,363	-3,224	-3,937
Net Cash From Continuing Investing Activities	-638	-2,046	-5,401	-3,076	-1,945	-3,427	-3,007	-3,363	-3,224	-3,941
Purchase of Property, Plant & Equipment	-906	-1,141	-1,474	-2,096	-2,249	-2,483	-2,953	-2,526	-3,165	-3,403
Acquisitions	-246	-1,767	-3,963	-830	-34	-1,180	-158	-1,109	-136	-98
Purchase of Investments	-359	-42	-58	-248	-61	-128	-108	0.00	0.00	-437
Sale of Property, Plant & Equipment	0.00	852	48	12	359	334	209	250	77	247
Sale and/or Maturity of Investments	873	53	46	86	40	29	4.06	22	0.00	11
Other Investing Activities, net	0.00	0.00	-	-	-	0.00	0.00	0.00	0.00	-261
Net Cash From Financing Activities	1,873	-897	4,608	471	1,202	816	414	857	211	1,723
Net Cash From Continuing Financing Activities	1,873	-897	4,608	471	1,202	816	414	857	211	1,723
Repayment of Debt	-762	-1,600	-2,979	-584	-2,346	-5,462	-2,832	-606	-13	-1,030
Payment of Dividends	-521	-499	-621	-739	-836	-948	-1,043	-1,152	-1,375	-1,643
Issuance of Debt	2,297	1,168	5,686	1,355	2,798	5,182	3,879	1,871	902	2,768
Issuance of Common Equity	860	34	2,523	438	1,713	2,043	575	878	846	1,768
Other Financing Activities, net	-	-	-	0.00	-126	-	-166	-134	-149	-140
Effect of Exchange Rate Changes	-40	-22	-	-34	-	41	-30	-98	-16	-49
Cash Interest Paid	237	350	445	497	554	498	426	412	445	486
Cash Income Taxes Paid	132	39	73	93	137	144	134	140	153	185

This table details how cash moves in and out of Equinix's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	607	-599	736	-302	16	-262	-566	466	780	306
Net Cash From Operating Activities	820	760	692	741	785	999	598	912	758	981
Net Cash From Continuing Operating Activities	820	760	692	741	785	999	598	912	758	981
Net Income / (Loss) Continuing Operations	212	129	259	207	276	227	231	301	296	-14
Consolidated Net Income / (Loss)	212	129	259	207	276	227	231	301	296	-14
Depreciation Expense	378	387	405	410	411	411	474	438	444	445
Amortization Expense	56	56	57	57	57	56	57	56	57	58
Non-Cash Adjustments To Reconcile Net Income	155	40	107	198	34	261	145	171	82	498
Changes in Operating Assets and Liabilities, net	19	147	-136	-131	7.00	44	-309	-54	-121	-6.00
Net Cash From Investing Activities	-664	-1,072	-522	-669	-752	-1,281	-727	-734	-1,365	-1,111
Net Cash From Continuing Investing Activities	-664	-1,072	-522	-669	-752	-1,281	-727	-738	-1,365	-1,111
Purchase of Property, Plant & Equipment	-559	-1,036	-570	-638	-730	-1,227	-724	-756	-886	-1,037
Acquisitions	-80	-145	-	-	-27	-54	-	-	-29	-33
Purchase of Investments	-22	109	-24	-	-	-	-3.00	-	-	13
Other Investing Activities, net	-	-	-	-	-	-	-	-	-	-65
Net Cash From Financing Activities	489	-325	542	-327	18	-22	-397	294	1,348	478
Net Cash From Continuing Financing Activities	489	-325	542	-327	18	-22	-397	294	1,348	478
Repayment of Debt	-25	-2.04	-7.00	-	-5.00	-1.00	-2.00	-10	-8.00	-1,010
Payment of Dividends	-291	-288	-326	-321	-325	-403	-412	-405	-413	-413
Issuance of Debt	-	0.46	565	-1.00	338	-	0.00	744	780	1,244
Issuance of Common Equity	834	0.44	346	25	42	433	48	-	1,024	696
Other Financing Activities, net	-28	-36	-36	-30	-32	-51	-31	-35	-35	-39

This table presents Equinix's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	10,357	12,608	18,691	20,245	23,966	27,007	27,919	30,311	32,651	35,085
Total Current Assets	3,259	1,468	2,249	1,516	2,873	2,609	2,957	3,305	3,568	5,447
Cash & Equivalents	2,229	748	1,413	606	1,870	1,605	1,536	1,906	2,096	3,081
Short-Term Investments	13	3.41	28	4.54	10	4.53	-	-	0.00	527
Accounts Receivable	292	396	576	630	689	677	682	855	1,004	949
Other Current Assets	213	319	232	275	304	323	463	459	468	890
Plant, Property, & Equipment, net	5,606	7,199	9,395	11,026	12,153	0.00	15,446	16,650	18,601	19,249
Total Noncurrent Assets	1,491	3,942	7,048	7,703	8,940	24,398	9,516	10,356	10,482	10,389
Goodwill	1,063	2,986	4,412	4,836	4,782	5,473	5,372	5,654	5,737	5,504
Intangible Assets	225	719	2,385	2,333	2,102	2,171	1,935	1,898	1,705	1,417
Other Noncurrent Operating Assets	199	226	242	533	2,056	16,754	2,208	2,804	3,040	3,468
Total Liabilities & Shareholders' Equity	10,357	12,608	18,691	20,245	23,966	27,007	27,919	30,311	32,651	35,085
Total Liabilities	7,611	8,243	11,842	13,025	15,125	16,373	17,037	18,805	20,137	21,533
Total Current Liabilities	1,656	1,029	1,243	1,515	2,158	2,025	1,606	1,838	3,162	3,349
Short-Term Debt	956	169	143	452	721	232	33	9.85	1,006	1,204
Accounts Payable	401	582	719	757	761	845	879	1,005	1,187	1,193
Accrued Expenses	103	145	220	179	302	301	187	281	398	387
Other Current Liabilities	192	133	160	127	375	646	506	542	571	565
Total Noncurrent Liabilities	5,955	7,214	10,599	11,510	12,967	14,348	15,431	16,967	16,975	18,184
Long-Term Debt	4,277	5,180	8,317	9,439	9,599	10,306	11,571	12,752	12,725	14,007
Capital Lease Obligations	1,287	1,411	1,620	1,441	0.00	3,093	3,097	3,417	3,454	3,417
Other Noncurrent Operating Liabilities	390	623	662	630	3,368	949	763	798	796	760
Commitments & Contingencies	0.00	0.00	-	0.00	-	-	-	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	0.00	25	25
Total Equity & Noncontrolling Interests	2,745	4,366	6,850	7,219	8,840	10,634	10,882	11,506	12,489	13,527
Total Preferred & Common Equity	2,745	4,366	6,850	7,219	8,841	10,634	10,882	11,506	12,489	13,528
Total Common Equity	2,745	4,366	6,850	7,219	8,841	10,634	10,882	11,506	12,489	13,528
Common Stock	4,839	7,414	10,121	10,751	12,697	15,028	15,985	17,320	18,596	20,895
Retained Earnings	-1,577	-1,951	-2,340	-2,441	-2,777	-3,359	-3,905	-4,353	-4,761	-5,593
Treasury Stock	-7.37	-148	-146	-145	-144	-122	-112	-72	-56	-39
Accumulated Other Comprehensive Income / (Loss)	-509	-949	-785	-946	-935	-913	-1,086	-1,389	-1,290	-1,735
Noncontrolling Interest	-	-	-	0.00	-0.22	0.13	-0.32	-0.13	0.00	-1.00

This table presents Equinix's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	29,326	30,311	31,274	31,567	31,685	32,651	31,937	32,854	35,438	35,085
Total Current Assets	4,017	3,305	3,993	3,744	3,885	3,568	3,167	3,729	5,055	5,447
Cash & Equivalents	2,501	1,906	2,643	2,342	2,357	2,096	1,527	1,993	2,776	3,081
Short-Term Investments	-	-	-	-	-	0.00	-	-	451	527
Accounts Receivable	779	855	913	1,006	1,031	1,004	1,079	1,124	1,123	949
Other Current Assets	657	459	437	396	497	468	561	612	705	890
Plant, Property, & Equipment, net	15,141	16,650	16,914	17,267	17,371	18,601	18,511	18,614	19,665	19,249
Total Noncurrent Assets	10,168	10,356	10,367	10,556	10,429	10,482	10,259	10,511	10,718	10,389
Goodwill	5,394	5,654	5,712	5,732	5,589	5,737	5,621	5,622	5,768	5,504
Intangible Assets	1,893	1,898	1,860	1,807	1,731	1,705	1,624	1,573	1,544	1,417
Other Noncurrent Operating Assets	2,882	2,804	2,796	3,016	1,593	3,040	3,014	3,316	3,406	3,468
Total Liabilities & Shareholders' Equity	29,326	30,311	31,274	31,567	31,685	32,651	31,937	32,854	35,438	35,085
Total Liabilities	18,172	18,805	19,245	19,518	19,773	20,137	19,613	20,551	21,826	21,533
Total Current Liabilities	1,696	1,838	1,754	1,854	1,894	3,162	2,891	3,068	4,370	3,349
Short-Term Debt	9.81	9.85	151	148	8.21	1,006	1,006	1,146	2,203	1,204
Accounts Payable	923	1,005	933	1,023	1,058	1,187	1,077	1,139	1,125	1,193
Accrued Expenses	275	281	288	316	364	398	321	420	394	387
Other Current Liabilities	488	542	382	367	464	571	487	363	648	565
Total Noncurrent Liabilities	16,476	16,967	17,491	17,664	17,879	16,975	16,722	17,483	17,456	18,184
Long-Term Debt	12,607	12,752	13,361	13,339	13,583	12,725	12,632	13,336	13,075	14,007
Capital Lease Obligations	3,130	3,417	3,345	3,539	3,521	3,454	3,338	3,360	3,559	3,417
Other Noncurrent Operating Liabilities	739	798	785	786	775	796	752	787	822	760
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	0.00	-	25	25	25	25	25	25	25
Total Equity & Noncontrolling Interests	11,154	11,506	12,029	12,024	11,887	12,489	12,299	12,278	13,587	13,527
Total Preferred & Common Equity	11,154	11,506	12,029	12,024	11,887	12,489	12,299	12,278	13,588	13,528
Total Common Equity	11,154	11,506	12,029	12,024	11,887	12,489	12,299	12,278	13,588	13,528
Common Stock	17,194	17,320	17,796	17,909	18,051	18,596	18,779	18,915	20,069	20,895
Retained Earnings	-4,191	-4,353	-4,416	-4,533	-4,581	-4,761	-4,932	-5,048	-5,158	-5,593
Treasury Stock	-93	-72	-66	-64	-57	-56	-50	-48	-40	-39
Accumulated Other Comprehensive Income / (Loss)	-1,756	-1,389	-1,285	-1,288	-1,526	-1,290	-1,498	-1,541	-1,283	-1,735
Noncontrolling Interest	-0.29	-0.13	-0.19	-0.11	-0.33	0.00	-	-	-1.00	-1.00

This table displays calculated financial ratios and metrics derived from Equinix's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.54%	32.51%	20.94%	16.10%	9.67%	7.85%	10.62%	9.46%	12.74%	6.84%
EBITDA Growth	3.83%	35.17%	33.02%	18.43%	11.77%	0.15%	9.28%	6.34%	13.50%	1.34%
EBIT Growth	-0.52%	10.67%	45.90%	21.17%	20.78%	-11.49%	-0.22%	8.65%	24.63%	-8.45%
NOPAT Growth	132.22%	-12.29%	48.40%	25.49%	3.88%	-11.88%	20.48%	12.22%	21.90%	-10.88%
Net Income Growth	172.02%	-32.47%	83.74%	56.82%	38.83%	-27.04%	35.03%	41.08%	37.45%	-16.00%
EPS Growth	164.72%	-44.24%	67.60%	52.00%	31.36%	-30.22%	32.30%	38.70%	34.42%	-17.56%
Operating Cash Flow Growth	29.79%	13.92%	41.19%	26.14%	9.77%	15.91%	10.28%	16.32%	8.57%	0.99%
Free Cash Flow Firm Growth	84.50%	-1,264.66%	-30.79%	63.31%	192.73%	-404.55%	95.58%	-342.15%	26.35%	121.00%
Invested Capital Growth	13.11%	59.17%	49.37%	15.90%	-3.68%	31.11%	4.92%	8.09%	7.43%	3.51%
Revenue Q/Q Growth	3.51%	6.24%	6.27%	2.21%	1.96%	2.51%	2.19%	2.32%	3.01%	1.75%
EBITDA Q/Q Growth	-2.30%	12.91%	7.91%	3.04%	3.93%	-2.01%	2.49%	0.75%	3.67%	-6.10%
EBIT Q/Q Growth	-6.89%	20.52%	7.46%	5.62%	6.21%	-8.57%	1.73%	0.81%	6.84%	-16.18%
NOPAT Q/Q Growth	176.32%	7.87%	2.90%	7.15%	2.80%	-12.33%	4.91%	2.11%	6.85%	-16.71%
Net Income Q/Q Growth	205.46%	67.32%	1.51%	13.98%	3.01%	-16.64%	16.89%	0.89%	11.26%	-22.84%
EPS Q/Q Growth	186.76%	73.79%	-1.96%	13.43%	1.35%	-17.88%	17.16%	0.39%	10.98%	-23.35%
Operating Cash Flow Q/Q Growth	3.81%	6.86%	15.60%	3.64%	-1.43%	7.27%	8.80%	-4.27%	8.02%	-0.54%
Free Cash Flow Firm Q/Q Growth	50.33%	16.96%	-15.81%	15.30%	-19.79%	-564.76%	87.15%	66.99%	43.75%	111.41%
Invested Capital Q/Q Growth	9.95%	-0.71%	3.70%	1.77%	4.28%	24.99%	15.48%	5.65%	3.51%	-2.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.62%	49.59%	49.80%	48.63%	49.48%	48.75%	47.67%	48.35%	48.36%	48.94%
EBITDA Margin	38.46%	39.23%	43.15%	44.02%	44.86%	41.66%	41.16%	39.98%	40.25%	38.18%
Operating Margin	20.81%	17.13%	18.52%	19.27%	21.03%	17.55%	16.70%	16.52%	17.62%	15.18%
EBIT Margin	18.59%	15.53%	18.73%	19.55%	21.53%	17.67%	15.94%	15.82%	17.49%	14.99%
Profit (Net Income) Margin	6.89%	3.51%	5.33%	7.20%	9.12%	6.17%	7.53%	9.71%	11.83%	9.31%
Tax Burden Percent	88.99%	79.32%	81.23%	84.37%	73.24%	71.69%	82.06%	85.04%	86.21%	83.49%
Interest Burden Percent	41.64%	28.50%	35.06%	43.68%	57.84%	48.71%	57.58%	72.15%	78.49%	74.37%
Effective Tax Rate	11.01%	28.43%	18.77%	15.63%	26.76%	28.31%	17.94%	14.96%	13.79%	16.51%
Return on Invested Capital (ROIC)	8.23%	5.25%	5.09%	4.93%	4.86%	3.78%	3.92%	4.13%	4.67%	3.95%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.51%	-1.23%	-0.71%	0.19%	1.22%	0.02%	0.63%	1.80%	2.79%	1.99%
Return on Net Nonoperating Assets (RNNOA)	-0.74%	-1.68%	-0.93%	0.26%	1.45%	0.02%	0.73%	2.17%	3.40%	2.30%
Return on Equity (ROE)	7.49%	3.57%	4.15%	5.19%	6.32%	3.80%	4.65%	6.30%	8.07%	6.25%
Cash Return on Invested Capital (CROIC)	-4.07%	-40.41%	-34.51%	-9.79%	8.62%	-23.14%	-0.88%	-3.65%	-2.50%	0.50%
Operating Return on Assets (OROA)	5.59%	4.88%	5.23%	5.09%	5.42%	4.16%	3.85%	3.95%	4.55%	3.87%
Return on Assets (ROA)	2.07%	1.10%	1.49%	1.88%	2.29%	1.45%	1.82%	2.42%	3.08%	2.40%
Return on Common Equity (ROCE)	7.49%	3.57%	4.15%	5.19%	6.32%	3.80%	4.65%	6.30%	8.06%	6.23%
Return on Equity Simple (ROE_SIMPLE)	6.84%	2.90%	3.40%	5.06%	5.74%	3.48%	4.59%	6.13%	7.76%	6.02%
Net Operating Profit after Tax (NOPAT)	505	443	657	825	857	755	909	1,021	1,244	1,109
NOPAT Margin	18.52%	12.26%	15.04%	16.26%	15.40%	12.58%	13.71%	14.05%	15.19%	12.67%
Net Nonoperating Expense Percent (NNEP)	8.75%	6.47%	5.80%	4.75%	3.65%	3.76%	3.29%	2.33%	1.88%	1.96%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.69%	4.19%	3.45%
Cost of Revenue to Revenue	47.38%	50.41%	50.20%	51.37%	50.52%	51.25%	52.33%	51.65%	51.64%	51.06%
SG&A Expenses to Revenue	18.10%	19.23%	17.07%	16.30%	16.81%	18.19%	19.62%	20.64%	20.20%	20.19%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	31.81%	32.46%	31.28%	29.36%	28.45%	31.20%	30.97%	31.83%	30.74%	33.76%
Earnings before Interest and Taxes (EBIT)	507	561	818	991	1,197	1,060	1,058	1,149	1,432	1,311
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,048	1,417	1,885	2,233	2,495	2,499	2,731	2,904	3,296	3,340
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.34	5.05	4.56	3.54	5.18	5.59	6.63	5.06	5.93	6.73
Price to Tangible Book Value (P/TBV)	10.06	33.40	588.84	515.16	23.39	19.86	20.20	14.73	14.68	13.77
Price to Revenue (P/Rev)	5.38	6.11	7.15	5.04	8.23	9.90	10.88	8.02	9.05	10.40
Price to Earnings (P/E)	78.13	173.99	134.09	69.93	90.19	160.64	144.34	82.62	76.48	111.63
Dividend Yield	6.92%	2.81%	2.00%	2.87%	1.83%	1.60%	1.43%	1.97%	1.84%	1.81%
Earnings Yield	1.28%	0.57%	0.75%	1.43%	1.11%	0.62%	0.69%	1.21%	1.31%	0.90%
Enterprise Value to Invested Capital (EV/IC)	2.84	2.71	2.58	2.02	3.14	3.15	3.59	2.82	3.23	3.71
Enterprise Value to Revenue (EV/Rev)	6.77	7.77	9.13	7.15	9.75	11.91	12.86	9.98	10.90	12.12
Enterprise Value to EBITDA (EV/EBITDA)	17.61	19.80	21.15	16.25	21.72	28.58	31.26	24.97	27.07	31.74
Enterprise Value to EBIT (EV/EBIT)	36.44	50.03	48.73	36.58	45.27	67.39	80.72	63.12	62.31	80.87
Enterprise Value to NOPAT (EV/NOPAT)	36.57	63.37	60.68	43.98	63.28	94.62	93.87	71.06	71.72	95.63
Enterprise Value to Operating Cash Flow (EV/OCF)	20.64	27.53	27.70	19.98	27.20	30.92	33.51	24.48	27.73	32.63
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	35.73	0.00	0.00	0.00	0.00	758.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.38	1.55	1.47	1.57	1.17	1.28	1.35	1.41	1.37	1.37
Long-Term Debt to Equity	2.03	1.51	1.45	1.51	1.09	1.26	1.35	1.41	1.29	1.29
Financial Leverage	1.45	1.37	1.30	1.38	1.19	1.05	1.16	1.21	1.22	1.16
Leverage Ratio	3.62	3.23	2.79	2.77	2.75	2.62	2.55	2.60	2.62	2.60
Compound Leverage Factor	1.51	0.92	0.98	1.21	1.59	1.27	1.47	1.88	2.06	1.93
Debt to Total Capital	70.37%	60.76%	59.54%	61.09%	53.86%	56.18%	57.46%	58.44%	57.86%	57.89%
Short-Term Debt to Total Capital	10.32%	1.52%	0.85%	2.44%	3.76%	0.96%	0.13%	0.04%	3.39%	3.74%
Long-Term Debt to Total Capital	60.05%	59.24%	58.70%	58.65%	50.10%	55.22%	57.33%	58.40%	54.48%	54.15%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.07%
Common Equity to Total Capital	29.63%	39.24%	40.46%	38.91%	46.14%	43.82%	42.54%	41.56%	42.05%	42.04%
Debt to EBITDA	6.22	4.77	5.35	5.08	4.14	5.45	5.38	5.57	5.21	5.58
Net Debt to EBITDA	3.62	4.23	4.58	4.80	3.38	4.81	4.82	4.91	4.58	4.50
Long-Term Debt to EBITDA	5.31	4.65	5.27	4.87	3.85	5.36	5.37	5.57	4.91	5.22
Debt to NOPAT	12.92	15.26	15.34	13.74	12.05	18.06	16.17	15.85	13.81	16.80
Net Debt to NOPAT	7.52	13.54	13.13	13.00	9.85	15.93	14.48	13.99	12.13	13.55
Long-Term Debt to NOPAT	11.02	14.88	15.12	13.19	11.21	17.75	16.13	15.84	13.01	15.72
Altman Z-Score	1.55	1.86	1.85	1.42	2.09	2.38	2.77	2.08	2.41	2.76
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.10%	0.19%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.97	1.43	1.81	1.00	1.33	1.29	1.84	1.80	1.13	1.63
Quick Ratio	1.53	1.12	1.62	0.82	1.19	1.13	1.38	1.50	0.98	1.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-250	-3,410	-4,460	-1,636	1,517	-4,621	-204	-903	-665	140
Operating Cash Flow to CapEx	98.72%	351.62%	100.93%	87.11%	105.44%	107.52%	92.80%	130.18%	104.18%	102.95%
Free Cash Flow to Firm to Interest Expense	-0.83	-8.43	-8.19	-2.86	3.16	-8.37	-0.45	-2.54	-1.66	0.30
Operating Cash Flow to Interest Expense	2.99	2.52	2.64	3.17	4.15	4.18	5.65	8.32	8.00	6.87
Operating Cash Flow Less CapEx to Interest Expense	-0.04	1.80	0.02	-0.47	0.21	0.29	-0.44	1.93	0.32	0.20
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.30	0.31	0.28	0.26	0.25	0.24	0.24	0.25	0.26	0.26
Accounts Receivable Turnover	9.83	10.50	8.98	8.41	8.43	8.78	9.77	9.45	8.81	8.96
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.51	0.56	0.53	0.50	0.48	0.00	0.00	0.45	0.46	0.46
Accounts Payable Turnover	3.76	3.71	3.37	3.53	3.70	3.83	4.03	3.98	3.86	3.75
Days Sales Outstanding (DSO)	37.13	34.77	40.63	43.41	43.29	41.56	37.36	38.63	41.44	40.74
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	97.04	98.49	108.26	103.38	98.54	95.31	90.61	91.66	94.61	97.24
Cash Conversion Cycle (CCC)	-59.92	-63.72	-67.63	-59.97	-55.26	-53.76	-53.24	-53.04	-53.17	-56.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,511	10,363	15,480	17,941	17,280	22,656	23,770	25,694	27,603	28,572
Invested Capital Turnover	0.44	0.43	0.34	0.30	0.32	0.30	0.29	0.29	0.31	0.31
Increase / (Decrease) in Invested Capital	755	3,853	5,117	2,461	-661	5,376	1,114	1,924	1,909	969
Enterprise Value (EV)	18,466	28,060	39,872	36,271	54,206	71,422	85,361	72,519	89,221	106,022
Market Capitalization	14,671	22,062	31,241	25,549	45,766	59,399	72,197	58,247	74,107	90,978
Book Value per Share	$47.92	$61.16	$87.56	$89.80	$103.67	$119.35	$120.86	$124.34	$133.03	$140.20
Tangible Book Value per Share	$25.44	$9.25	$0.68	$0.62	$22.94	$33.56	$39.70	$42.73	$53.76	$68.47
Total Capital	9,266	11,125	16,930	18,552	19,160	24,266	25,582	27,684	29,699	32,180
Total Debt	6,521	6,760	10,080	11,332	10,320	13,631	14,701	16,179	17,185	18,628
Total Long-Term Debt	5,565	6,591	9,937	10,881	9,599	13,399	14,668	16,169	16,179	17,424
Net Debt	3,795	5,998	8,630	10,722	8,440	12,022	13,164	14,272	15,089	15,020
Capital Expenditures (CapEx)	906	290	1,426	2,084	1,890	2,148	2,745	2,276	3,088	3,156
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-162	-144	-291	-158	-444	-793	-152	-430	-684	-306
Debt-free Net Working Capital (DFNWC)	2,559	608	1,150	453	1,436	817	1,384	1,477	1,412	3,302
Net Working Capital (NWC)	1,603	439	1,006	0.61	715	584	1,351	1,467	406	2,098
Net Nonoperating Expense (NNE)	317	316	424	459	349	385	410	316	275	295
Net Nonoperating Obligations (NNO)	3,766	5,998	8,630	10,722	8,440	12,022	12,888	14,188	15,089	15,020
Total Depreciation and Amortization (D&A)	542	856	1,067	1,241	1,298	1,439	1,673	1,755	1,864	2,029
Debt-free, Cash-free Net Working Capital to Revenue	-5.93%	-3.99%	-6.67%	-3.12%	-7.99%	-13.21%	-2.29%	-5.92%	-8.35%	-3.50%
Debt-free Net Working Capital to Revenue	93.89%	16.83%	26.32%	8.92%	25.81%	13.62%	20.86%	20.33%	17.24%	37.75%
Net Working Capital to Revenue	58.80%	12.15%	23.04%	0.01%	12.85%	9.74%	20.36%	20.20%	4.96%	23.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.25	$1.81	$3.03	$4.58	$6.03	$4.22	$5.57	$7.69	$10.35	$8.54
Adjusted Weighted Average Basic Shares Outstanding	57.79M	70.12M	76.85M	79.78M	84.14M	87.70M	89.77M	91.57M	93.62M	95.46M
Adjusted Diluted Earnings per Share	$3.21	$1.79	$3.00	$4.56	$5.99	$4.18	$5.53	$7.67	$10.31	$8.50
Adjusted Weighted Average Diluted Shares Outstanding	58.48M	70.82M	77.54M	80.20M	84.68M	88.41M	90.41M	91.83M	94.01M	95.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	69.03M	71.64M	79.23M	80.87M	85.44M	89.29M	90.72M	92.74M	94.62M	97.33M
Normalized Net Operating Profit after Tax (NOPAT)	542	471	689	849	854	799	919	1,043	1,251	1,356
Normalized NOPAT Margin	19.88%	13.03%	15.76%	16.73%	15.35%	13.32%	13.85%	14.36%	15.28%	15.50%
Pre Tax Income Margin	7.74%	4.43%	6.57%	8.54%	12.45%	8.61%	9.18%	11.41%	13.73%	11.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.69	1.39	1.50	1.73	2.50	1.92	2.34	3.23	3.56	2.77
NOPAT to Interest Expense	1.69	1.09	1.21	1.44	1.79	1.37	2.02	2.87	3.09	2.34
EBIT Less CapEx to Interest Expense	-1.34	0.67	-1.12	-1.91	-1.44	-1.97	-3.74	-3.17	-4.12	-3.90
NOPAT Less CapEx to Interest Expense	-1.34	0.38	-1.41	-2.20	-2.15	-2.52	-4.07	-3.53	-4.59	-4.33
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	277.71%	393.90%	266.76%	202.16%	164.84%	256.15%	208.70%	163.40%	141.90%	201.84%
Augmented Payout Ratio	277.71%	393.90%	266.76%	202.16%	164.84%	256.15%	208.70%	163.40%	141.90%	201.84%

This table displays calculated financial ratios and metrics derived from Equinix's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.88%	9.63%	15.20%	11.11%	11.97%	12.79%	6.46%	6.93%	6.79%	7.16%
EBITDA Growth	7.67%	3.22%	22.47%	5.01%	10.75%	16.65%	4.10%	17.28%	10.68%	-26.72%
EBIT Growth	15.10%	3.80%	52.08%	2.69%	14.88%	36.26%	-8.67%	34.06%	15.20%	-73.33%
NOPAT Growth	37.04%	10.24%	44.76%	-7.85%	24.06%	41.62%	-4.16%	33.89%	1.17%	-75.21%
Net Income Growth	39.28%	5.02%	75.36%	-4.27%	30.35%	75.53%	-10.81%	45.41%	7.25%	-106.17%
EPS Growth	36.90%	2.22%	70.99%	-6.75%	27.39%	73.91%	-12.27%	42.99%	5.80%	-107.92%
Operating Cash Flow Growth	23.40%	-14.81%	19.08%	-7.56%	-4.30%	31.45%	-13.58%	23.08%	-3.44%	-1.80%
Free Cash Flow Firm Growth	-53.50%	-85.30%	51.20%	62.31%	42.27%	5.82%	34.96%	34.88%	-10.27%	44.58%
Invested Capital Growth	18.15%	8.09%	9.15%	7.57%	9.65%	7.43%	5.83%	5.31%	9.58%	3.51%
Revenue Q/Q Growth	1.29%	1.63%	6.80%	1.05%	2.08%	2.38%	0.80%	1.50%	1.95%	2.73%
EBITDA Q/Q Growth	1.56%	-8.54%	22.83%	-7.85%	7.12%	-3.68%	9.22%	3.82%	1.08%	-36.23%
EBIT Q/Q Growth	4.75%	-22.43%	54.75%	-18.37%	17.19%	-8.00%	3.56%	19.83%	0.70%	-78.70%
NOPAT Q/Q Growth	-6.31%	-28.27%	54.74%	-11.08%	26.13%	-18.12%	4.16%	24.23%	-4.69%	-79.94%
Net Income Q/Q Growth	-2.08%	-38.92%	100.93%	-20.08%	33.33%	-17.75%	1.66%	30.30%	-1.66%	-104.73%
EPS Q/Q Growth	-2.95%	-40.00%	100.72%	-20.22%	32.58%	-18.09%	1.25%	30.04%	-1.90%	-106.13%
Operating Cash Flow Q/Q Growth	2.33%	-7.35%	-8.97%	7.08%	5.94%	27.26%	-40.12%	52.51%	-16.89%	29.42%
Free Cash Flow Firm Q/Q Growth	18.73%	50.19%	-9.59%	15.08%	-24.49%	18.74%	24.26%	14.99%	-110.81%	59.16%
Invested Capital Q/Q Growth	-2.14%	5.65%	2.14%	1.86%	-0.25%	3.51%	0.62%	1.36%	3.80%	-2.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.22%	48.14%	49.65%	47.45%	48.13%	48.25%	48.71%	49.88%	50.11%	47.10%
EBITDA Margin	41.35%	37.21%	42.74%	38.98%	40.90%	38.48%	41.80%	42.75%	42.39%	26.32%
Operating Margin	18.10%	15.06%	19.22%	16.44%	18.49%	16.40%	17.11%	20.19%	19.31%	4.56%
EBIT Margin	17.73%	13.53%	19.62%	15.85%	18.20%	16.35%	16.83%	19.87%	19.63%	4.07%
Profit (Net Income) Margin	11.50%	6.91%	12.96%	10.25%	13.39%	10.76%	10.86%	13.94%	13.45%	-0.62%
Tax Burden Percent	85.95%	72.93%	82.48%	84.84%	93.24%	84.07%	83.39%	86.49%	84.57%	0.00%
Interest Burden Percent	75.47%	70.04%	80.10%	76.25%	78.93%	78.26%	77.37%	81.12%	81.02%	0.00%
Effective Tax Rate	14.05%	27.08%	17.52%	15.16%	6.76%	15.93%	16.61%	13.51%	15.43%	0.00%
Return on Invested Capital (ROIC)	4.92%	3.22%	4.75%	4.18%	5.37%	4.24%	4.39%	5.38%	5.02%	0.99%
ROIC Less NNEP Spread (ROIC-NNEP)	4.28%	2.66%	4.32%	3.66%	4.81%	3.80%	3.91%	4.88%	4.61%	0.42%
Return on Net Nonoperating Assets (RNNOA)	4.56%	3.22%	5.14%	4.67%	5.82%	4.63%	4.76%	6.12%	5.48%	0.49%
Return on Equity (ROE)	9.48%	6.44%	9.89%	8.85%	11.19%	8.87%	9.15%	11.51%	10.50%	1.48%
Cash Return on Invested Capital (CROIC)	-12.19%	-3.65%	-4.31%	-3.06%	-4.64%	-2.50%	-1.10%	-0.34%	-4.38%	0.50%
Operating Return on Assets (OROA)	4.41%	3.38%	4.98%	4.04%	4.74%	4.25%	4.43%	5.22%	5.03%	1.05%
Return on Assets (ROA)	2.86%	1.72%	3.29%	2.61%	3.49%	2.80%	2.86%	3.66%	3.45%	-0.16%
Return on Common Equity (ROCE)	9.48%	6.44%	9.89%	8.84%	11.18%	8.86%	9.14%	11.48%	10.48%	1.48%
Return on Equity Simple (ROE_SIMPLE)	6.26%	0.00%	6.78%	6.71%	7.33%	0.00%	7.65%	8.43%	7.76%	0.00%
Net Operating Profit after Tax (NOPAT)	286	205	317	282	355	291	304	377	359	72
NOPAT Margin	15.56%	10.98%	15.85%	13.95%	17.24%	13.79%	14.27%	17.47%	16.33%	3.19%
Net Nonoperating Expense Percent (NNEP)	0.64%	0.56%	0.42%	0.52%	0.57%	0.44%	0.49%	0.50%	0.42%	0.57%
Return On Investment Capital (ROIC_SIMPLE)	-	0.74%	-	-	-	0.98%	-	-	-	0.22%
Cost of Revenue to Revenue	50.78%	51.86%	50.35%	52.55%	51.87%	51.75%	51.29%	50.12%	49.89%	52.90%
SG&A Expenses to Revenue	20.40%	21.41%	19.77%	20.11%	19.60%	21.28%	20.87%	20.24%	19.72%	19.95%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	31.12%	33.08%	30.43%	31.01%	29.65%	31.85%	31.59%	29.69%	30.80%	42.55%
Earnings before Interest and Taxes (EBIT)	326	253	392	320	375	345	358	429	432	92
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	761	696	854	787	843	812	889	923	933	595
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.46	5.06	5.39	5.94	5.60	5.93	6.23	5.82	6.20	6.73
Price to Tangible Book Value (P/TBV)	12.87	14.73	14.56	15.94	14.57	14.68	15.17	14.05	13.43	13.77
Price to Revenue (P/Rev)	7.01	8.02	8.62	9.25	8.37	9.05	9.22	8.45	9.80	10.40
Price to Earnings (P/E)	71.23	82.62	79.52	88.60	76.42	76.48	81.47	69.01	79.79	111.63
Dividend Yield	2.23%	1.97%	1.82%	1.70%	1.87%	1.84%	1.88%	2.15%	1.92%	1.81%
Earnings Yield	1.40%	1.21%	1.26%	1.13%	1.31%	1.31%	1.23%	1.45%	1.25%	0.90%
Enterprise Value to Invested Capital (EV/IC)	2.59	2.82	3.01	3.22	3.05	3.23	3.32	3.10	3.42	3.71
Enterprise Value to Revenue (EV/Rev)	8.88	9.98	10.51	11.15	10.23	10.90	11.08	10.32	11.62	12.12
Enterprise Value to EBITDA (EV/EBITDA)	21.87	24.97	25.85	27.82	25.58	27.07	27.66	25.18	28.09	31.74
Enterprise Value to EBIT (EV/EBIT)	55.30	63.12	61.63	66.71	60.67	62.31	65.91	57.93	63.88	80.87
Enterprise Value to NOPAT (EV/NOPAT)	63.06	71.06	70.87	78.80	69.85	71.72	74.81	65.80	75.05	95.63
Enterprise Value to Operating Cash Flow (EV/OCF)	20.36	24.48	25.73	28.60	27.31	27.73	29.51	26.51	30.59	32.63
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	758.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.41	1.41	1.40	1.41	1.44	1.37	1.38	1.45	1.38	1.37
Long-Term Debt to Equity	1.41	1.41	1.39	1.40	1.44	1.29	1.30	1.36	1.22	1.29
Financial Leverage	1.07	1.21	1.19	1.27	1.21	1.22	1.22	1.25	1.19	1.16
Leverage Ratio	2.63	2.60	2.58	2.67	2.65	2.62	2.60	2.65	2.63	2.60
Compound Leverage Factor	1.98	1.82	2.07	2.04	2.09	2.05	2.01	2.15	2.13	0.00
Debt to Total Capital	58.54%	58.44%	58.36%	58.56%	58.96%	57.86%	57.94%	59.19%	58.05%	57.89%
Short-Term Debt to Total Capital	0.04%	0.04%	0.52%	0.51%	0.03%	3.39%	3.43%	3.80%	6.79%	3.74%
Long-Term Debt to Total Capital	58.50%	58.40%	57.83%	58.05%	58.93%	54.48%	54.51%	55.39%	51.26%	54.15%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.09%	0.09%	0.08%	0.09%	0.08%	0.07%	0.07%
Common Equity to Total Capital	41.46%	41.56%	41.64%	41.36%	40.96%	42.05%	41.98%	40.73%	41.87%	42.04%
Debt to EBITDA	5.46	5.57	5.51	5.50	5.38	5.21	5.10	5.15	5.30	5.58
Net Debt to EBITDA	4.60	4.91	4.65	4.74	4.64	4.58	4.64	4.57	4.39	4.50
Long-Term Debt to EBITDA	5.46	5.57	5.46	5.45	5.38	4.91	4.79	4.82	4.68	5.22
Debt to NOPAT	15.76	15.85	15.10	15.57	14.70	13.81	13.78	13.45	14.15	16.80
Net Debt to NOPAT	13.25	13.99	12.74	13.43	12.67	12.13	12.54	11.94	11.73	13.55
Long-Term Debt to NOPAT	15.75	15.84	14.97	15.43	14.69	13.01	12.96	12.58	12.50	15.72
Altman Z-Score	1.82	1.98	2.19	2.35	2.18	2.30	2.44	2.20	2.42	2.64
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.11%	0.11%	0.10%	0.10%	0.20%	0.19%	0.19%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.37	1.80	2.28	2.02	2.05	1.13	1.10	1.22	1.16	1.63
Quick Ratio	1.93	1.50	2.03	1.81	1.79	0.98	0.90	1.02	1.00	1.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3,450	-1,718	-1,884	-1,600	-1,992	-1,618	-1,225	-1,042	-2,196	-897
Operating Cash Flow to CapEx	146.27%	73.36%	138.96%	116.14%	108.28%	81.42%	82.60%	179.17%	85.55%	94.60%
Free Cash Flow to Firm to Interest Expense	-37.80	-18.27	-19.42	-16.00	-19.53	-15.71	-11.67	-9.47	-18.77	-6.36
Operating Cash Flow to Interest Expense	8.99	8.08	7.13	7.41	7.70	9.70	5.70	8.29	6.48	6.96
Operating Cash Flow Less CapEx to Interest Expense	2.84	-2.93	2.00	1.03	0.59	-2.21	-1.20	3.66	-1.09	-0.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.25	0.25	0.25	0.26	0.26	0.26	0.26	0.26	0.26	0.26
Accounts Receivable Turnover	9.04	9.45	8.89	8.50	8.79	8.81	8.35	7.94	7.98	8.96
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.47	0.45	0.46	0.47	0.49	0.46	0.47	0.47	0.46	0.46
Accounts Payable Turnover	4.18	3.98	4.40	4.26	4.15	3.86	4.29	4.01	4.00	3.75
Days Sales Outstanding (DSO)	40.39	38.63	41.07	42.95	41.55	41.44	43.72	45.97	45.72	40.74
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	87.34	91.66	82.87	85.66	88.03	94.61	85.07	91.05	91.33	97.24
Cash Conversion Cycle (CCC)	-46.96	-53.04	-41.80	-42.71	-46.48	-53.17	-41.35	-45.08	-45.61	-56.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	24,319	25,694	26,244	26,733	26,666	27,603	27,773	28,152	29,222	28,572
Invested Capital Turnover	0.32	0.29	0.30	0.30	0.31	0.31	0.31	0.31	0.31	0.31
Increase / (Decrease) in Invested Capital	3,736	1,924	2,201	1,882	2,347	1,909	1,529	1,419	2,556	969
Enterprise Value (EV)	63,022	72,519	79,094	86,175	81,321	89,221	92,148	87,311	99,910	106,022
Market Capitalization	49,777	58,247	64,879	71,466	66,541	74,107	76,674	71,437	84,276	90,978
Book Value per Share	$122.47	$124.34	$129.38	$128.57	$127.04	$133.03	$129.92	$129.37	$143.11	$140.20
Tangible Book Value per Share	$42.47	$42.73	$47.94	$47.95	$48.81	$53.76	$53.39	$53.56	$66.10	$68.47
Total Capital	26,901	27,684	28,887	29,075	29,024	29,699	29,300	30,145	32,449	32,180
Total Debt	15,747	16,179	16,858	17,026	17,112	17,185	16,976	17,842	18,837	18,628
Total Long-Term Debt	15,737	16,169	16,706	16,878	17,104	16,179	15,970	16,696	16,634	17,424
Net Debt	13,246	14,272	14,215	14,684	14,755	15,089	15,449	15,849	15,610	15,020
Capital Expenditures (CapEx)	561	1,036	498	638	725	1,227	724	509	886	1,037
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-170	-430	-252	-304	-358	-684	-245	-186	-339	-306
Debt-free Net Working Capital (DFNWC)	2,331	1,477	2,390	2,038	2,000	1,412	1,282	1,807	2,888	3,302
Net Working Capital (NWC)	2,321	1,467	2,239	1,890	1,992	406	276	661	685	2,098
Net Nonoperating Expense (NNE)	75	76	58	75	79	64	73	76	63	86
Net Nonoperating Obligations (NNO)	13,165	14,188	14,215	14,684	14,755	15,089	15,449	15,849	15,610	15,020
Total Depreciation and Amortization (D&A)	435	443	462	467	468	467	531	494	501	503
Debt-free, Cash-free Net Working Capital to Revenue	-2.39%	-5.92%	-3.35%	-3.94%	-4.50%	-8.35%	-2.95%	-2.20%	-3.94%	-3.50%
Debt-free Net Working Capital to Revenue	32.84%	20.33%	31.76%	26.37%	25.16%	17.24%	15.41%	21.37%	33.59%	37.75%
Net Working Capital to Revenue	32.70%	20.20%	29.75%	24.45%	25.06%	4.96%	3.32%	7.82%	7.97%	23.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.30	$1.39	$2.78	$2.21	$2.94	$2.42	$2.44	$3.17	$3.11	($0.18)
Adjusted Weighted Average Basic Shares Outstanding	91.90M	91.57M	92.97M	93.54M	93.68M	93.62M	94.67M	94.92M	95.39M	95.46M
Adjusted Diluted Earnings per Share	$2.30	$1.38	$2.77	$2.21	$2.93	$2.40	$2.43	$3.16	$3.10	($0.19)
Adjusted Weighted Average Diluted Shares Outstanding	92.14M	91.83M	93.34M	93.86M	94.17M	94.01M	95.16M	95.17M	95.73M	95.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	92.54M	92.74M	93.52M	93.56M	93.88M	94.62M	94.91M	94.94M	96.49M	97.33M
Normalized Net Operating Profit after Tax (NOPAT)	290	213	319	285	351	296	305	364	365	120
Normalized NOPAT Margin	15.76%	11.40%	15.98%	14.12%	17.01%	14.03%	14.35%	16.87%	16.60%	5.33%
Pre Tax Income Margin	13.38%	9.48%	15.72%	12.09%	14.36%	12.80%	13.02%	16.12%	15.90%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.58	2.69	4.04	3.20	3.68	3.35	3.41	3.90	3.69	0.65
NOPAT to Interest Expense	3.14	2.18	3.27	2.82	3.48	2.82	2.89	3.43	3.07	0.51
EBIT Less CapEx to Interest Expense	-2.57	-8.32	-1.09	-3.18	-3.43	-8.56	-3.49	-0.73	-3.88	-6.70
NOPAT Less CapEx to Interest Expense	-3.01	-8.83	-1.87	-3.56	-3.62	-9.09	-4.00	-1.20	-4.50	-6.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	160.75%	163.40%	145.58%	151.96%	144.63%	141.90%	155.18%	149.20%	154.71%	201.84%
Augmented Payout Ratio	160.75%	163.40%	145.58%	151.96%	144.63%	141.90%	155.18%	149.20%	154.71%	201.84%

Frequently Asked Questions About Equinix's Financials

When does Equinix's financial year end?

According to the most recent income statement we have on file, Equinix's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Equinix's net income changed over the last 9 years?

Equinix's net income appears to be on an upward trend, with a most recent value of $814 million in 2024, rising from $187.77 million in 2015. The previous period was $969 million in 2023.

What is Equinix's operating income?

Equinix's total operating income in 2024 was $1.33 billion, based on the following breakdown:

Total Gross Profit: $4.28 billion
Total Operating Expenses: $2.95 billion

How has Equinix revenue changed over the last 9 years?

Over the last 9 years, Equinix's total revenue changed from $2.73 billion in 2015 to $8.75 billion in 2024, a change of 220.9%.

How much debt does Equinix have?

Equinix's total liabilities were at $21.53 billion at the end of 2024, a 6.9% increase from 2023, and a 182.9% increase since 2015.

How much cash does Equinix have?

In the past 9 years, Equinix's cash and equivalents has ranged from $606.17 million in 2018 to $3.08 billion in 2024, and is currently $3.08 billion as of their latest financial filing in 2024.

How has Equinix's book value per share changed over the last 9 years?

Over the last 9 years, Equinix's book value per share changed from 47.92 in 2015 to 140.20 in 2024, a change of 192.6%.

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This page (NASDAQ:EQIX) was last updated on 4/21/2025 by MarketBeat.com Staff

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Equinix (EQIX) Financials

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Equinix (EQIX) Financials

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