Stocks · Real Estate · REIT - Specialty
Equinix, Inc. EQIX
$1,025.72 +1.32% Close, Oct 2, 2026 · NASDAQ · Market cap $101.21B
Strong growthHigh qualityStrong trend
Next earnings report: Oct 28, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $15.53, up 52.1% year over year.
- The shares trade at 66.0× trailing earnings, lower than 90% of the company's own readings over the past five years.
- Net debt is 5.0× EBITDA, a high level of leverage.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth94Exceptional
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 40%
- EPS growth (TTM, YoY)Top 25%
- FCF growth (TTM, YoY)Top 1%
- Revenue growth, 3-year CAGRTop 35%
- Revenue growth accelerationTop 21%
Quality86Strong
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 41%
- Gross marginTop 47%
- Operating marginBottom 44%
- Cash conversion (OCF / net income)Top 31%
- Accruals (lower is better)Top 20%
- Net debt / EBITDA (lower is better)Top 40%
- Interest coverTop 12%
Value25Very weak
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 42%
- Free-cash-flow yieldBottom 24%
- EBITDA / enterprise valueBottom 22%
- Sales / enterprise valueBottom 25%
- P/E vs own 5-year history (lower is better)Top 25%
Momentum91Exceptional
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 12%
- 6-month returnTop 35%
- 1-year return vs S&P 500Top 7%
- Distance from 52-week highTop 8%
- Trend checklist (0–4)Top 19%
Revisions64Neutral
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 37%
- Consecutive EPS beatsBottom 48%
- Share of analysts rating BuyTop 12%
- Upside to consensus price targetBottom 50%
Stability60Neutral
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 34%
- Maximum drawdown, 3 yearsTop 23%
- Beta vs S&P 500 (lower is better)Top 42%
- Net debt / EBITDA (lower is better)Top 40%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 6.9% | 9.9% | ↑ |
| EPS growth (YoY) | 50.2% | 52.1% | ↑ |
| Gross margin | 50.1% | 51.6% | ↑ |
| Operating margin | 16.5% | 21.8% | ↑ |
| FCF margin | 0.5% | 13.9% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 9.9% | 6.9% | ↑ | Top 40% |
| EPS growth (TTM, YoY) | 52.1% | 50.2% | ↑ | Top 25% |
| Gross margin | 51.6% | 50.1% | ↑ | Top 47% |
| Operating margin | 21.8% | 16.5% | ↑ | Bottom 44% |
| Net margin | 15.6% | 11.1% | ↑ | — |
| Free-cash-flow margin | 13.9% | 0.5% | ↑ | — |
| Return on invested capital | 4.9% | — | Top 41% | |
| Revenue growth, 3-year CAGR | 8.4% | — | Top 35% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.57×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 5.4%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +0.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 4.98×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 3.7×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 1.93%
- Net buyback yield (TTM)
- -0.09%
- Shareholder yield
- 1.84%
- Share count change, 1 year
- +1.1%
- Share count change, 3-year CAGR
- +1.8%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 29, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 1
- Beats in the last 8 reports
- 5 of 8
- Average EPS surprise, last 4
- -5.3%
- Average 2-day reaction, last 8
- -0.4%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $1,246.25
- Target vs current price
- +21.5%
- Analysts with a rating
- 53
- Share rating Buy or Strong Buy
- 75%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 29, 2026 | +2.1% | -2.6% | +1.6% | +3.7% | — |
| Apr 29, 2026 | -2.3% | +1.2% | +0.2% | -0.6% | +0.7% |
| Feb 11, 2026 | -27.5% | +1.3% | +7.9% | +13.6% | +24.5% |
| Oct 29, 2025 | +6.4% | -2.3% | +1.7% | -8.3% | -1.2% |
| Jul 30, 2025 | +8.0% | -1.7% | -4.0% | -3.6% | +2.2% |
| Apr 30, 2025 | +3.2% | +1.1% | +2.8% | +3.4% | -5.9% |
| Feb 12, 2025 | -105.1% | -0.9% | -0.5% | -9.4% | -8.8% |
| Oct 30, 2024 | +5.4% | +0.5% | +0.3% | +8.0% | +0.1% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 29, 2026 | $4.83 | $4.73 | +2.1% | $2.63B |
| Apr 29, 2026 | $4.20 | $4.30 | -2.3% | $2.44B |
| Feb 11, 2026 | $2.69 | $3.71 | -27.5% | $2.42B |
| Oct 29, 2025 | $3.82 | $3.59 | +6.4% | $2.32B |
| Jul 30, 2025 | $3.76 | $3.48 | +8.0% | $2.26B |
| Apr 30, 2025 | $3.52 | $3.41 | +3.2% | $2.23B |
| Feb 12, 2025 | -$0.14 | $2.75 | -105.1% | $2.26B |
| Oct 30, 2024 | $3.10 | $2.94 | +5.4% | $2.20B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 66.0× | 83.0× | 10th | Bottom 42% |
| P/E (forward) | 59.5× | — | — | — |
| EV / EBITDA | 27.5× | — | — | Bottom 22% |
| EV / Sales | 12.58× | — | — | Bottom 25% |
| Free-cash-flow yield | 1.35% | — | — | Bottom 24% |
| Earnings yield | 1.51% | — | — | Bottom 42% |
P/E over the past five years
Range 63.1× – 215.3× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +32.5%
- Earnings per share growth (TTM)
- +52.1%
- Change in P/E multiple
- -16.8%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 166
- 50-day average slope (20 days)
- -0.3%
- 200-day average slope (20 days)
- +2.9%
- Distance from 50-day average
- -1.7%
- Distance from 200-day average
- +3.9%
- RSI (14)
- 48.2
- Relative volume
- 0.65×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 27.6%
- Volatility vs own 5-year history
- 58th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.53
- Correlation with S&P 500
- 0.32
- Current drawdown from 1-year high
- -8.1%
- Maximum drawdown, 3 years
- -26.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Sep 3, 2021 | Oct 14, 2022 | -42.8% | 280 days | 343 days (Feb 28, 2024) |
| Oct 12, 2020 | Mar 8, 2021 | -28.7% | 100 days | 98 days (Jul 27, 2021) |
| Dec 6, 2024 | Dec 4, 2025 | -26.3% | 248 days | 80 days (Apr 1, 2026) |
| Mar 4, 2024 | May 8, 2024 | -24.2% | 46 days | 118 days (Oct 25, 2024) |
| Jun 22, 2026 | Sep 14, 2026 | -10.5% | 58 days | Not yet recovered |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $101.21B
- P/E (TTM)
- 66.0
- EPS, diluted (TTM)
- $15.53
- Revenue (TTM)
- $9.83B
- Dividend yield
- 1.97%
- 52-week range
- $720.62 – $1,128.68
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $6.64B | $7.26B | $8.19B | $8.75B | $9.26B |
| Gross profit | $3.16B | $3.51B | $3.96B | $4.28B | $4.75B |
| Operating income | $1.11B | $1.20B | $1.44B | $1.33B | $1.85B |
| Net income | $500.2M | $704.3M | $969.2M | $815.0M | $1.35B |
| EPS (diluted) | $5.53 | $7.67 | $10.31 | $8.50 | $13.76 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.20B | $2.26B | $2.23B | $2.26B | $2.32B | $2.44B | $2.44B | $2.63B |
| Net income | $297.0M | -$14.0M | $343.0M | $368.0M | $374.0M | $265.0M | $415.0M | $479.0M |
| EPS (diluted) | $3.10 | -$0.14 | $3.50 | $3.75 | $3.81 | $2.69 | $4.20 | $4.83 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.55B | $2.96B | $3.22B | $3.25B | $3.91B |
| Capital expenditure | -$2.75B | -$2.28B | -$2.78B | -$3.07B | -$4.31B |
| Free cash flow | -$204.3M | $685.2M | $435.6M | $183.0M | -$400.0M |
| Dividends paid | -$1.04B | -$1.15B | -$1.37B | -$1.64B | -$1.86B |
| Net share buybacks | $497.9M | $796.0M | $733.7M | $1.67B | $194.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $2.22B
- Total assets
- $41.08B
- Total liabilities
- $26.70B
- Total debt
- $23.36B
- Net debt
- $22.38B
- Shareholders’ equity
- $14.38B
As of Jun 30, 2026 (filed Jul 29, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Aug 19, 2026 | $5.16 | Sep 16, 2026 |
| May 20, 2026 | $5.16 | Jun 17, 2026 |
| Feb 25, 2026 | $5.16 | Mar 18, 2026 |
| Nov 19, 2025 | $4.69 | Dec 17, 2025 |
| Aug 20, 2025 | $4.69 | Sep 17, 2025 |
| May 21, 2025 | $4.69 | Jun 18, 2025 |
| Feb 26, 2025 | $4.69 | Mar 19, 2025 |
| Nov 13, 2024 | $4.26 | Dec 11, 2024 |
Short interest
- Shares sold short
- 1,696,093
- Days to cover
- 3.29
- Change vs previous report
- +3.0%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Dec 31, 2002
- 1-for-32