ES
MARKETS / NASDAQ / EQIX
NASDAQ · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Equinix Inc. EQIX

18 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY9 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$9.2B
▲ 5.4% vs FY2024
Dividend streak
9 yrs
Raised every year since 2017
EPS · FY25
$13.76
Dividend / sh · FY25
$18.76
Payout · FY25
137%
ROE · FY25
9.8%
Net margin · FY25
14.6%
Dividend coverage
0.7×
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Result
USD 9.2B
Revenue, FY2025 · full 18-year series below
Revenue Net income
2.557.5109.21.42008201120142017202020232025
2.557.5109.21.42016201920222025

15 cents of every revenue dollar became profit this year.

Per share
USD 13.76
Diluted EPS, FY2025
EPS Dividend
8162418.7613.762008201120142017202020232025
8162418.7613.762016201920222025

Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.

Profitability
9.8%
Return on equity, FY2025
ROE
48129.8%2008201120142017202020232025
48129.8%2016201920222025
Operating margin20.0%
Net margin14.6%
Return on assets3.6%

Each USD of equity produced 10 cents of profit this year.

Returned to shareholders
USD 1.9B
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 1.9B
Net buybacks—
Share of profit137.5%
Consecutive raises9 years

USD 1.9B in dividends — 137% of the year's profit, so the payout drew on cash built up earlier.

Growth
+9.0% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+8.3%
+9.0%
+13.0%
+14.6%
Net income
+24.2%
+29.6%
+21.8%
+27.1%
EPS, diluted
+21.5%
+26.9%
+15.7%
+20.7%
Dividend / share
+14.8%
+12.0%
+0.6%
Returned to shareholders
+17.2%
+14.4%
+13.5%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.10B
Shares outstanding, FY2025
0.040.102008201120142017202020232025
0.070.102016201920222025
Change, 5 years+10.2%
Change, 10 years+58.2%

The share count grew 10% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 40.1B
total assets, end of FY2025
Total assetsUSD 40.1B
EquityUSD 14.2B
CashUSD 1.7B
Gross debtUSD 1.3B
Net debtUSD -428.0M
Current ratio1.32×

The company holds more cash than debt.

History
18 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
Revenue $B
9.2
8.7
8.2
7.3
6.6
6.0
5.6
5.1
4.4
3.6
2.7
2.4
2.2
1.9
1.6
1.2
0.9
0.7
Operating income $B
1.8
1.3
1.4
1.2
1.1
1.1
1.2
1.0
0.8
0.6
0.6
0.5
0.5
0.4
0.3
0.2
0.2
0.1
EBITDA $B
3.9
3.3
3.3
2.9
2.8
2.5
2.5
2.2
1.9
1.5
1.1
1.0
0.9
0.8
0.6
0.4
0.4
0.2
Income tax $B
0.2
0.2
0.2
0.1
0.1
0.1
0.2
0.1
0.1
0.0
0.0
0.3
0.0
0.1
0.0
0.0
0.0
−0.1
Net income $B
1.4
0.8
1.0
0.7
0.5
0.4
0.5
0.4
0.2
0.1
0.2
−0.3
0.1
0.1
0.1
0.0
0.1
0.1
EPS, diluted $
13.76
8.50
10.31
7.67
5.53
4.18
5.99
4.56
3.00
1.79
3.21
−4.96
1.89
2.83
1.74
0.82
1.75
2.79
Dividend / sh $
18.76
17.04
14.49
12.40
11.48
10.64
9.84
9.12
8.00
7.00
17.71
·
·
·
·
·
·
·
Payout %
137
202
142
163
209
256
165
202
267
394
278
−32
·
·
·
·
·
·
ROE %
9.8
6.3
8.1
6.3
4.6
3.8
6.3
5.2
4.2
3.6
7.5
−11.0
4.0
6.6
5.0
2.4
6.6
11.8
Shares out B
0.10
0.10
0.09
0.09
0.09
0.09
0.09
0.08
0.08
0.07
0.06
0.06
0.05
0.05
0.05
0.05
0.04
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
52 of 52
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed