EQIX financial statements

The full income statement, balance sheet, and cash-flow statement for Equinix Inc. Common Stock REIT (EQIX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 94.9M2024-09 96.5M2024-12 97.3M2025-03 97.8M2025-06 97.9M2025-09 98.2M2025-12 98.3M2026-03 98.6M2026-06 98.7M+3.9% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	9.22B YoY+5.4%	8.75B YoY+6.8%	8.19B YoY+12.7%	7.26B YoY+9.5%	6.64B YoY+10.6%
Cost of revenue	4.51B YoY+0.9%	4.47B YoY+5.7%	4.23B YoY+12.7%	3.75B YoY+8.0%	3.47B YoY+12.9%
Selling, general & administrative	1.84B YoY+4.2%	1.77B YoY+6.8%	1.65B YoY+10.3%	1.50B YoY+15.1%	1.30B YoY+19.3%
General & administrative	1.84B YoY+4.2%	1.77B YoY+6.8%	1.65B YoY+10.3%	1.50B YoY+15.1%	1.30B YoY+19.3%
Selling & marketing	903M YoY+1.3%	891M YoY+4.2%	855M YoY+8.6%	787M YoY+6.2%	741M YoY+3.2%
Restructuring	33.0M YoY+6.5%	31.0M	0.00	0.00	—
Amortization of intangibles	200M YoY-3.8%	208M YoY+0.0%	208M YoY+1.5%	205M YoY-0.2%	205M YoY+3.2%
Provision for credit losses	10.0M YoY-52.4%	21.0M YoY+40.0%	15.0M YoY+114.3%	7.00M YoY-30.1%	10.0M YoY+97.6%
Operating income	1.85B YoY+39.2%	1.33B YoY-8.0%	1.44B YoY+20.3%	1.20B YoY+8.3%	1.11B YoY+5.2%
Interest expense	527M YoY+15.3%	457M YoY+13.7%	402M YoY+12.8%	356M YoY+6.0%	336M YoY-17.3%
Interest & investment income	193M YoY+40.9%	137M YoY+45.7%	94.0M YoY+161.1%	36.0M YoY+1261.6%	2.64M YoY-69.4%
Other non-operating income	-7.00M YoY+58.8%	-17.0M YoY-54.5%	-11.0M YoY+78.4%	-51.0M YoY-0.7%	-50.6M YoY-832.6%
Equity-method income	-17.0M YoY+29.2%	-24.0M YoY-100.0%	-12.0M YoY-33.3%	-9.00M	—
Pre-tax income	1.51B YoY+54.7%	975M YoY-13.3%	1.12B YoY+35.6%	829M YoY+36.1%	609M YoY+18.0%
Income tax	160M YoY-0.6%	161M YoY+3.9%	155M YoY+25.0%	124M YoY+13.5%	109M YoY-25.3%
	1.35B YoY+65.6%	815M YoY-15.9%	969M YoY+37.4%	705M YoY+40.9%	500M YoY+35.3%
Net income to non-controlling interest	-2.00M YoY-100.0%	-1.00M	0.00	0.00 YoY+100.0%	-463K YoY-255.9%
	$13.76 YoY+61.9%	$8.50 YoY-17.6%	$10.31 YoY+34.4%	$7.67 YoY+38.7%	$5.53 YoY+32.3%
EPS (basic)	$13.79 YoY+61.5%	$8.54 YoY-17.5%	$10.35 YoY+34.6%	$7.69 YoY+38.1%	$5.57 YoY+32.0%
	97.9M YoY+2.5%	95.5M YoY+2.0%	93.6M YoY+2.2%	91.6M YoY+2.0%	89.8M YoY+2.4%
	98.1M YoY+2.4%	95.8M YoY+1.9%	94.0M YoY+2.4%	91.8M YoY+1.6%	90.4M YoY+2.3%
Dividends per share	$18.76 YoY+10.1%	$17.04 YoY+17.6%	$14.49 YoY+16.9%	$12.40 YoY+8.0%	$11.48 YoY+7.9%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.13B YoY-5.9%	5.45B YoY+52.7%	3.57B YoY+7.9%	3.31B YoY+11.8%	2.96B YoY+13.3%
Cash & equivalents	1.73B YoY-43.9%	3.08B YoY+47.0%	2.10B YoY+10.0%	1.91B YoY+24.1%	1.54B YoY-4.3%
Short-term investments	1.50B YoY+184.6%	527M	0.00	—	0.00 YoY-100.0%
Cash & short-term investments	3.23B YoY-10.6%	3.61B YoY+72.1%	2.10B	—	1.54B YoY-4.5%
Accounts receivable	1.00B YoY+5.5%	949M YoY-5.5%	1.00B YoY+17.4%	855M YoY+25.4%	682M YoY+0.7%
Prepaid expenses	134M YoY+47.3%	91.0M YoY-9.0%	100M YoY+26.3%	79.2M YoY+21.4%	65.2M YoY+6.2%
Other current assets	897M YoY+0.8%	890M YoY+90.2%	468M YoY+1.9%	459M YoY-0.8%	463M YoY+43.3%
	40.1B YoY+14.4%	35.1B YoY+7.5%	32.7B YoY+7.7%	30.3B YoY+8.6%	27.9B YoY+3.4%
Property, plant & equipment	23.6B YoY+22.5%	19.2B YoY+3.5%	18.6B YoY+11.7%	16.6B YoY+7.8%	15.4B YoY+6.5%
Operating lease right-of-use	1.39B YoY-1.9%	1.42B YoY-2.1%	1.45B YoY+1.5%	1.43B YoY+11.3%	1.28B YoY-13.1%
Goodwill	5.98B YoY+8.7%	5.50B YoY-4.1%	5.74B YoY+1.5%	5.65B YoY+5.2%	5.37B YoY-1.8%
Intangible assets	1.32B YoY-7.1%	1.42B YoY-16.9%	1.71B YoY-10.2%	1.90B YoY-2.0%	1.94B YoY-10.8%
Deferred tax assets	100M YoY+108.3%	48.0M YoY-22.6%	62.0M YoY+38.9%	44.6M YoY-25.4%	59.8M YoY-9.9%
Other non-current assets	2.74B YoY+33.7%	2.05B YoY+28.8%	1.59B YoY+15.6%	1.38B YoY+48.6%	926M YoY+19.3%
	3.89B YoY+16.2%	3.35B YoY+5.9%	3.16B YoY+72.0%	1.84B YoY+14.5%	1.61B YoY-20.7%
Accounts payable	127M YoY-4.5%	133M YoY-17.9%	162M YoY+39.7%	116M YoY+37.9%	84.1M YoY+8.2%
Accrued liabilities	1.35B YoY+13.2%	1.19B YoY+0.5%	1.19B YoY+18.1%	1.00B YoY+14.3%	879M YoY+4.1%
Deferred revenue	133M YoY+8.1%	123M YoY-1.6%	125M YoY-5.3%	132M YoY+20.3%	110M YoY+8.4%
Short-term & current debt	1.30B YoY+8.3%	1.20B YoY+20.1%	998M	0.00	0.00 YoY-100.0%
Current lease liability	155M YoY+7.6%	144M YoY+9.9%	131M YoY-6.1%	140M YoY-3.1%	144M YoY-6.6%
Other current liabilities	340M YoY+46.6%	232M YoY-23.2%	302M YoY+20.2%	251M YoY+17.2%	215M YoY-39.5%
Finance lease liability (current)	168M YoY-11.1%	189M YoY+37.0%	138M YoY-8.9%	151M YoY+2.4%	148M YoY+7.4%
	26.0B YoY+20.6%	21.5B YoY+6.9%	20.1B YoY+7.1%	18.8B YoY+10.4%	17.0B YoY+4.1%
Long-term debt	—	15.3B YoY+10.8%	13.8B YoY+7.5%	12.9B YoY+9.9%	11.7B YoY+10.2%
Deferred revenue (non-current)	170M YoY+13.3%	150M YoY-2.6%	154M YoY-0.6%	155M YoY+77.2%	87.5M YoY+22.8%
Non-current lease liability	1.30B YoY-2.0%	1.33B YoY+0.0%	1.33B YoY+4.6%	1.27B YoY+15.0%	1.11B YoY-15.4%
Operating lease liability (total)	1.46B YoY-1.1%	1.48B YoY+0.9%	1.46B YoY+3.5%	1.41B YoY+12.9%	1.25B YoY-14.5%
Finance lease liability (total)	2.35B YoY+3.5%	2.27B YoY+0.6%	2.26B YoY-1.5%	2.30B YoY+7.4%	2.14B YoY+11.2%
Finance lease liability	2.19B YoY+4.8%	2.09B YoY-1.7%	2.12B YoY-1.0%	2.14B YoY+7.7%	1.99B YoY+11.5%
Deferred tax liabilities	367M YoY+8.3%	339M YoY-14.0%	394M YoY+2.8%	383M YoY+12.7%	340M YoY+17.2%
Other non-current liabilities	983M YoY+29.3%	760M YoY-4.5%	796M YoY-0.2%	798M YoY+4.5%	763M YoY-19.6%
	14.2B YoY+4.6%	13.5B YoY+8.3%	12.5B YoY+8.5%	11.5B YoY+5.7%	10.9B YoY+2.3%
Preferred stock	—	—	—	0.00	0.00
Common stock	0.00	0.00	0.00 YoY-100.0%	93.0K YoY+2.2%	91.0K YoY+2.2%
Additional paid-in capital	21.6B YoY+3.6%	20.9B YoY+12.4%	18.6B YoY+7.4%	17.3B YoY+8.4%	16.0B YoY+6.4%
Retained earnings	6.10B YoY+28.4%	4.75B YoY+20.7%	3.93B YoY+32.7%	2.96B YoY+31.2%	2.26B YoY+28.4%
Treasury stock	24.0M YoY-38.5%	39.0M YoY-30.4%	56.0M YoY-22.2%	72.0M YoY-35.9%	112M YoY-8.1%
Accumulated other comprehensive income	-1.36B YoY+21.7%	-1.74B YoY-34.5%	-1.29B YoY+7.2%	-1.39B YoY-28.0%	-1.09B YoY-18.9%
Non-controlling interest	-3.00M YoY-200.0%	-1.00M	0.00 YoY+100.0%	-134K YoY+57.9%	-318K YoY-344.6%
Total equity incl. non-controlling	14.2B YoY+4.6%	13.5B YoY+8.3%	12.5B YoY+8.5%	11.5B YoY+5.7%	10.9B YoY+2.3%
Total liabilities & equity	40.1B YoY+14.4%	35.1B YoY+7.5%	32.7B YoY+7.7%	30.3B YoY+8.6%	27.9B YoY+3.4%
	98.3M YoY+0.9%	97.4M YoY+2.9%	94.6M YoY+2.0%	92.8M YoY+2.1%	90.9M YoY+1.6%
	98.2M YoY+1.0%	97.3M YoY+3.0%	94.5M YoY+2.0%	92.6M YoY+2.3%	90.6M YoY+1.6%
	98.3M YoY+0.9%	97.3M YoY+2.9%	94.6M YoY+2.0%	92.7M YoY+2.2%	90.7M YoY+1.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.91B YoY+20.4%	3.25B YoY+1.0%	3.22B YoY+8.6%	2.96B YoY+16.3%	2.55B YoY+10.3%
Depreciation & amortization	2.05B YoY+2.0%	2.01B YoY+8.9%	1.84B YoY+6.2%	1.74B YoY+4.9%	1.66B YoY+16.4%
Intangible amortization	200M YoY-3.8%	208M YoY+0.0%	208M YoY+1.5%	205M YoY-0.2%	205M YoY+3.2%
Share-based compensation	498M YoY+7.8%	462M YoY+13.5%	407M YoY+0.7%	404M YoY+11.1%	364M YoY+23.3%
Deferred income taxes	-56.0M YoY-86.7%	-30.0M YoY-700.0%	5.00M YoY-88.1%	42.0M YoY+4.0%	40.4M YoY+314.8%
Change in receivables	40.0M YoY+248.1%	-27.0M YoY-118.0%	150M YoY-2.6%	154M YoY+8122.1%	1.87M YoY+107.4%
	-6.48B YoY-64.7%	-3.94B YoY-22.1%	-3.22B YoY+4.1%	-3.36B YoY-11.8%	-3.01B YoY+12.3%
Capital expenditure	4.31B YoY+40.6%	3.07B YoY+10.2%	2.78B YoY+22.1%	2.28B YoY-17.2%	2.75B YoY+20.5%
Free cash flow	-400M YoY-318.6%	183M YoY-58.0%	436M YoY-36.4%	685M YoY+435.3%	-204M YoY-847.8%
Acquisitions	251M	0.00	0.00 YoY-100.0%	964M YoY+508.2%	158M YoY-86.6%
Purchases of investments	—	—	136M YoY-6.1%	145M YoY+34.5%	108M YoY-15.8%
Sales/maturities of investments	1.00B	0.00	0.00	—	—
Proceeds from sale of PP&E	0.00 YoY-100.0%	247M YoY+220.8%	77.0M YoY-69.2%	250M YoY+19.9%	209M YoY-37.6%
	1.27B YoY-26.2%	1.72B YoY+716.6%	211M YoY-75.4%	857M YoY+107.1%	414M YoY-49.3%
Long-term debt issued	4.31B YoY+55.7%	2.77B YoY+206.9%	902M YoY-24.5%	1.19B YoY-69.2%	3.88B YoY-12.5%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	99.0M YoY-94.1%	1.67B YoY+127.9%	734M YoY-7.8%	796M YoY+59.9%	498M YoY-74.9%
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	1.86B YoY+13.0%	1.64B YoY+19.5%	1.38B YoY+19.4%	1.15B YoY+10.5%	1.04B YoY+10.0%
Other financing activities	-26.0M YoY+13.3%	-30.0M YoY-130.8%	-13.0M	—	—
FX effect on cash	43.0M YoY+187.8%	-49.0M YoY-206.3%	-16.0M YoY+83.7%	-98.0M YoY-221.6%	-30.5M YoY-174.9%
Net change in cash	-1.26B YoY-227.6%	986M YoY+424.5%	188M YoY-47.6%	359M YoY+570.9%	-76.2M YoY+70.8%
Interest paid	—	486M YoY+9.2%	445M YoY+8.0%	412M YoY+2.5%	402M YoY-14.8%
Income taxes paid	207M YoY+11.9%	185M YoY+20.9%	153M YoY+9.3%	140M YoY+4.2%	134M YoY-6.6%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	75.3B YoY-18.0%	91.8B YoY+21.4%	75.6B YoY+24.7%	60.6B YoY-21.0%	76.7B YoY+20.3%
P/E	55.8× YoY-50.5%	112.6× YoY+29.8%	86.8× YoY+0.0%	86.7× YoY-43.5%	153.4× YoY-11.0%
P/S	8.2× YoY-22.1%	10.5× YoY+13.4%	9.2× YoY+8.3%	8.5× YoY-26.2%	11.6× YoY+8.8%
P/B	5.3× YoY-21.6%	6.8× YoY+6.6%	6.4× YoY+17.1%	5.4× YoY-22.9%	7.1× YoY+17.6%
P/FCF	—	501.5× YoY+142.1%	207.1× YoY+182.8%	73.2×	—
	1.8% YoY+101.9%	0.89% YoY-22.9%	1.2% YoY-0.0%	1.2% YoY+76.9%	0.65% YoY+12.4%
	—	0.20% YoY-58.7%	0.48% YoY-64.6%	1.4%	—
	2.4% YoY+35.5%	1.8% YoY+0.4%	1.8% YoY-5.0%	1.9% YoY+39.5%	1.4% YoY-8.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: EQIX's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all EQIX filings on SEC EDGAR → Not investment advice.