How Equinix makes money

Period

FY2025

How does Equinix make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Equinix Inc. Common Stock REIT · FY2025 · year ended 2025-12-31

Revenue$9.2BGross profit$4.7B · 51%Cost of revenue$4.5B · 49%Operating income$1.8B · 20%Operating expenses$2.9B · 31%SG&A$1.8B · 20%Selling & marketing$903M · 10%Other opex$118M · 1%Pre-tax income$1.5B · 16%Other expense$338M · 4%Net income$1.4B · 15%Income tax$160M · 2%Colocation$6.5B · 70%Interconnection$1.7B · 18%Non Recurring Revenues$478M · 5%Managed Infrastructure$466M · 5%Other$143M · 2%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.