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Equinix Inc.
EQIXReal EstateGenerated Jul 5, 2026, 08:12 PM UTC
EQIX (Equinix Inc.) analytical snapshot. Return on equity 7.16%, ROA 2.76%, ROIC 10.67%. Net income up ▲ +37.4% YoY. Debt/equity 1.38, current ratio 1.18, net debt $18.42B. Market cap $98.82B at $1002.02 per share. Trailing P/E 97.19, P/S 19.49, P/B 6.91. EV/Operating income ≈ 81.25 (EV $117.25B). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score -16 (data confidence 75%). Descriptive analytics from public filings — not investment advice.
Market cap
$98.82B
98.62M shares
Price
$1002.02
NMS
P/E (ttm)
97.19
Revenue (FY)
—
Net margin
—
Free cash flow
—
Risk level
Elevated
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 0Stable
60% conf
Return on equity 7.16%, ROA 2.76%, ROIC 10.67%. Net income up ▲ +37.4% YoY. Debt/equity 1.38, current ratio 1.18, net debt $18.42B.
- Return on equity 7.16%, ROA 2.76%, ROIC 10.67%.
- Net income up ▲ +37.4% YoY.
- Debt/equity 1.38, current ratio 1.18, net debt $18.42B.
Revenue (FY)
—
Net margin
—
ROE
7.16%
ROA 2.76%
ROIC
10.67%
EPS (diluted)
$10.31
FY2025
Free cash flow
—
Debt / equity
1.38
Cash $1.36B
Current ratio
1.18
Equity $14.30B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | $2.44B | — | 14.11 | 20.84 | -10.62 | — | -10.55 |
| 2017 | $2.73B | +11.5% | 15.28 | 20.81 | 6.89 | — | 8.27 |
| 2018 | $3.61B | +32.5% | 13.30 | 17.13 | 3.51 | — | 4.62 |
| 2019 | $4.37B | +20.9% | 13.58 | 18.52 | 5.33 | — | 3.23 |
| 2020 | $5.07B | +16.1% | 13.43 | 19.27 | 7.20 | — | 4.13 |
| 2021 | — | — | — | — | — | — | 4.77 |
| 2022 | — | — | — | — | — | — | 3.40 |
| 2023 | — | — | — | — | — | — | 4.35 |
| 2024 | — | — | — | — | — | — | 5.64 |
| 2025 | — | — | — | — | — | — | 7.16 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 30, 2018 | $1.28B | -59.5% | — | 19.89% |
| Mar 31, 2019 | $1.36B | +12.1% | +6.2% | 8.66% |
| Jun 30, 2019 | $2.75B | +10.9% | +101.6% | 9.52% |
| Jun 30, 2019 | $1.38B | -44.1% | -49.6% | 18.89% |
| Sep 30, 2019 | $4.15B | +10.2% | +199.3% | 9.23% |
| Sep 30, 2019 | $1.40B | -62.9% | -66.3% | 27.38% |
Revenue (annual, SEC 10-K)
2016: 2,444
2017: 2,726
2018: 3,612
2019: 4,368
2020: 5,072
2021: 0
2022: 0
2023: 0
2024: 0
2025: 0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 0Stable
80% conf
Latest annual report (10-K) filed Feb 11, 2026. Latest quarterly report (10-Q) filed Apr 29, 2026. 11 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 11, 2026.
- Latest quarterly report (10-Q) filed Apr 29, 2026.
- 11 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 55 sell transactions — net selling $9.7M.
- ~10,000+ recent 13F-HR filings reference Equinix Inc.; broad institutional reporting.
- Recent filers include Westchester Capital Management, LLC, DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ), DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ).
- 5 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 15 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 11, 2026
Annual report
Latest 10-Q
Apr 29, 2026
8-K (recent)
11
Insider net
-$9.7M
0B/55S
13F filers
10k+
Activist 13D
5
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Westchester Capital Management, LLC | 13F-HR | Aug 14, 2013 |
| DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ) | 13F-HR | May 13, 2022 |
| DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ) | 13F-HR | May 13, 2022 |
| COATUE MANAGEMENT LLC | 13F-HR | May 15, 2026 |
| SHUMWAY CAPITAL PARTNERS LLC | 13F-HR | Feb 16, 2010 |
Recent insider Form 4 activity
| Insider | Date | Net | Buys/Sells |
|---|---|---|---|
| MORANDI BRANDI GALVIN | Jun 8, 2026 | -$4.0M | 0/1 |
| Pletcher Kurt | Jun 3, 2026 | -$84.0K | 0/15 |
| Lin Jonathan | Jun 3, 2026 | -$159.3K | 0/15 |
| Abdel Raouf | Jun 3, 2026 | -$167.8K | 0/15 |
| Fox-Martin Adaire | Jun 3, 2026 | -$3.1M | 0/8 |
| Abdel Raouf | May 26, 2026 | -$2.2M | 0/1 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| May 15, 2026 | 8-K | 8-K |
| May 11, 2026 | 8-K | 8-K |
| May 7, 2026 | 8-K | FORM 8-K |
| Apr 29, 2026 | 8-K | 8-K |
| Mar 10, 2026 | 8-K | 8-K |
| Mar 5, 2026 | 8-K | FORM 8-K |
| Feb 27, 2026 | 8-K | 8-K |
| Feb 18, 2026 | 8-K | 8-K |
Insider Form 4 sentiment (transactions)
Buys: 0
Sells: 55
Buys
Sells
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -54Deteriorating
66% conf
4 risk signal(s), 2 positive signal(s) detected from XBRL filing diff analysis. Strong cash conversion (OCF > NI) combined with growing deferred revenue provides high forward visibility. The business model appears to generate sustainable, recurring cash flows — a positive structural indicator.
- NEW: Going concern doubt in latest filing: The term "going concern" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 23 filing(s).
- Material weakness in internal controls: The term "material weakness" appears in 61 recent filing(s) (vs 8 in the prior period). This risk language is ongoing.
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 7 filing(s).
- NEW: Restatement of financial statements in latest filing: The term "restate" "financial statements" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 23 filing(s).
- Operating cash flow exceeds net income: OCF is 3.32x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Deferred revenue growing — future revenue visibility: Deferred revenue grew +49.5% to $18.7M, providing forward revenue visibility. This is a positive leading indicator for subscription or contract-based businesses.
- Endogenous analysis: Strong cash conversion (OCF > NI) combined with growing deferred revenue provides high forward visibility. The business model appears to generate sustainable, recurring cash flows — a positive structural indicator.
- 4 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 3 new risk-language term(s) detected in filing text: Going concern doubt, Substantial doubt about ability to continue, Restatement of financial statements.
- Ongoing high-severity risk language: Material weakness in internal controls.
Revenue
$5.07B
+16.1% YoY
Gross profit
$681.2M
+14.8% YoY
Operating income
$1.44B
+20.3% YoY
Net income
$969.0M
+37.4% YoY
Operating cash flow
$3.22B
+8.6% YoY
Capex
$14.9M
— YoY
Total assets
$35.09B
+7.5% YoY
Total liabilities
$21.53B
+6.9% YoY
Filing quality score
78/100
4 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $4.37B | $5.07B | $703.2M | +16.1% |
| Gross profit | $593.4M | $681.2M | $87.7M | +14.8% |
| Operating income | $1.20B | $1.44B | $243.0M | +20.3% |
| Net income | $705.0M | $969.0M | $264.0M | +37.4% |
| Operating cash flow | $2.96B | $3.22B | $254.0M | +8.6% |
| Capex | — | $14.9M | — | — |
| Total assets | $32.65B | $35.09B | $2.43B | +7.5% |
| Total liabilities | $20.14B | $21.53B | $1.40B | +6.9% |
| Long-term debt | $13.84B | $15.33B | $1.49B | +10.8% |
| Cash & equivalents | $1.91B | $2.10B | $190.0M | +10.0% |
| Stockholders equity | $12.49B | $13.53B | $1.04B | +8.3% |
| Accounts receivable | $855.0M | $1.00B | $149.0M | +17.4% |
| Interest expense | $406.5M | $336.1M | $-70.4M | -17.3% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | AvailableForSaleSecuritiesDebtSecurities, PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear, RepaymentsOfOtherDebt, VariableInterestEntityEntityMaximumLossExposureAmount |
| Removed | AccountsPayableCurrent, AccountsReceivableGrossCurrent, AccruedIncomeTaxesCurrent, AccruedIncomeTaxesNoncurrent, AccruedUtilitiesCurrent, AllowanceForDoubtfulAccountsReceivableWriteOffs, AmortizationOfFinancingCostsAndDiscounts, AmortizationOfIntangibleAssets, AssetRetirementObligation, AssetRetirementObligationAccretionExpense |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 23 | 0 | NEW |
| Material weakness in internal controls | high | 61 | 8 | Ongoing |
| Substantial doubt about ability to continue | high | 7 | 0 | NEW |
| Restatement of financial statements | high | 23 | 0 | NEW |
| Impairment charge | medium | 80 | 11 | Ongoing |
| Restructuring | medium | 159 | 17 | Ongoing |
| Off-balance sheet arrangements | medium | 102 | 9 | Ongoing |
| Related party transactions | low | 107 | 8 | Ongoing |
Filing signal breakdown
Red flags: 4
Positive: 2
Watch: 0
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $98.82B at $1002.02 per share.
- ProPrice & TechnicalsPrice $1002.02 — uptrend (above 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Elevated.
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3 sections free · 4 Pro sections locked · composite -16
Macro exposure
Rate-sensitive · High sensitivityMacro regime: Risk-on · Supportive. Equinix Inc. is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewEQIX (Equinix Inc.
Risk
Elevated
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Rate-sensitive groupHow EQIX stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Capital One Financial COF | 23 | Neutral |
| Chubb Ltd. CB | 23 | Neutral |
| U.S. Bancorp USB | 17 | Neutral |
| JPMorgan Chase & Co. JPM | 16 | Neutral |
| Prologis Inc. PLD | 14 | Neutral |
| Simon Property Group SPG | 13 | Neutral |
| American Express Co. AXP | 11 | Neutral |
| Bank of America Corp. BAC | 11 | Neutral |
| Visa Inc. V | 8 | Neutral |
| Mastercard Inc. MA | 8 | Neutral |
| Public Storage PSA | 8 | Neutral |
| Dominion Energy D | 6 | Neutral |
| Charles Schwab Corp. SCHW | 6 | Neutral |
| CME Group Inc. CME | 6 | Neutral |
| PNC Financial Services PNC | 4 | Neutral |
| Realty Income Corp. O | 4 | Neutral |
| Travelers Cos. TRV | 2 | Neutral |
| Duke Energy Corp. DUK | 0 | Neutral |
| Bank of New York Mellon BK | 0 | Neutral |
| Marsh & McLennan MMC | 0 | Neutral |
| Equity Residential EQR | 0 | Neutral |
| Wells Fargo & Co. WFC | -1 | Neutral |
| Welltower Inc. WELL | -1 | Neutral |
| Exelon Corp. EXC | -3 | Neutral |
| NextEra Energy NEE | -4 | Neutral |
| Xcel Energy XEL | -5 | Neutral |
| American International Group AIG | -5 | Neutral |
| Truist Financial TFC | -5 | Neutral |
| Digital Realty Trust DLR | -6 | Neutral |
| Allstate Corp. ALL | -7 | Neutral |
| S&P Global SPGI | -8 | Neutral |
| American Water Works AWK | -9 | Neutral |
| Goldman Sachs Group GS | -10 | Neutral |
| Citigroup Inc. C | -11 | Neutral |
| Moody's Corp. MCO | -13 | Neutral |
| Morgan Stanley MS | -13 | Neutral |
| MetLife Inc. MET | -13 | Neutral |
| Southern Company SO | -15 | Neutral |
| BlackRock Inc. BLK | -15 | Neutral |
| Equinix Inc. EQIX● you | -16 | Neutral |
| American Electric Power AEP | -18 | Neutral |
| Crown Castle Inc. CCI | -18 | Neutral |
| American Tower Corp. AMT | -39 | Neutral |