Equinix (EQIX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Equinix

NasdaqGS•Real Estate•REIT - Specialty

$1,025.94+9.78(0.01%)After hours

Market Cap

$100.24B

P/E

65.4x

P/S

10.2x

P/B

7.0x

Equinix, Inc. shortens the path to boundless connectivity anywhere in the world. Its digital infrastructure, data center footprint and interconnected ecosystems empower innovations that enhance our work, life and planet. Equinix connects economies, countries, organizations and communities, delivering seamless digital experiences and cutting-edge AI quickly, efficiently and everywhere. Equinix, Inc. was established on June 22, 1998 and is based in Redwood City, United States.

How this company scores

AverageMetricSide Score: 56/100

Strongest: Profitability (23/25); weakest: Cash & Earnings Quality (2/25).

Profitability23/25

Growth19/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality2/25

Strengths

Strong marginsRising earningsProfit converts from growthConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 65.4x5y range 56.0x – 168.3x

Currently near its 20-quarter median.

P/S · 10.2x5y range 7.3x – 11.5x

Currently near its 20-quarter median.

P/B · 7.0x5y range 4.6x – 7.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Red Flag

The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Price & Volume

Market Cap $100.24B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $9.80B
Q. Revenue: $2.63B
TTM EBITDA: $4.30B
TTM Op. Income: $2.14B
Q. Op. Income: $665.00M
TTM Net Income: $1.53B
Q. Net Income: $479.00M
EPS: $4.86
Shares Out.: $98.64M

$9.80B in TTM revenue grew 9.6% YoY, reaching $2.63B last quarter. TTM EBITDA of $4.30B and TTM operating income of $2.14B show growth is flowing through to the bottom line. TTM net income of $1.53B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 53.1%
EBITDA Margin: 46.3%
Op. Margin: 25.3%
Net Margin: 18.2%

Op. margin of 25.3% is up 3.4% YoY — cost efficiency is improving. Net margin at 18.2% and gross margin of 53.1% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 65.4x
P/S Ratio: 10.2x
P/B Ratio: 7.0x

At 65.4x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 10.2x and P/B of 7.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 16% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $41.08B
Cash: $979.00M
Long-Term Debt: $19.87B
Book Value: $14.37B
D/E Ratio: 1.4
Debt/EBITDA: 16.3

With $41.08B in assets and $19.87B in long-term debt, D/E is 1.4and book value is $14.37B — moderate leverage. Over the past year, debt/equity is up 8% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.07B
TTM Free Cash Flow: $-1.46B
FCF Margin: -14.9%
FCF / Net Income: -1.0

TTM FCF of $-1.46B on $1.07B in operating cash flow. The FCF / Net Income ratio of -1.0x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 5 consecutive quarters — a weakening trend.