EQIX

Equinix, Inc.

$975.71

-1.04% 2026-10-19

Real EstateS&P 500

1M 3M 6M 1Y 2Y

EQIXSPY

-5.5%

-4.5%

-3.6%

-10.8%

YTD

+29.3%

+22.4%

Grades vs sector

Momentum

84th pct in sector

A-

12-1 return: +22.1%
Percentile within its GICS sector across the S&P 1500.

Growth

78th pct in sector

B+

Revenue growth (YoY): +16.7%
Percentile within its GICS sector across the S&P 1500.

Value

16th pct in sector

D-

Forward E/P: 1.9% · EBITDA/EV: 3.8%
Percentile within its GICS sector across the S&P 1500.

Profitability

61st pct in sector

B-

Profit margin: +15.5% · Return on equity: +10.7%
Percentile within its GICS sector across the S&P 1500.

Revisions

no data

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 3 live models right now.

Momentum Top 15

rank 110 of 499 · 12-1 momentum % 36.5

Quality Growth

not ranked (outside this model's universe or screens)

Momentum Blend

not in the current book

Key stats

Market cap$96.3B

P/E (trailing)62.8

P/E (forward)52.7

52-week range720.62 – 1,128.68

Revenue growth (YoY, latest qtr)+16.7%

Dividend yield2.09%

Analyst consensusStrong Buy (31)

Mean price target$1,232.90 (+26%)

Valuation & fundamentals

Bottom line

Leans expensive

Model read-out from the numbers below, not advice. Score -1 (DCF counts double).

•DCF (base case)below the price by 11%

▼Forward P/E vs sector52.7x vs median 29.6x

•Piotroski F-score5/9

•Altman Z2.8 (grey)

▼Net debt / EBITDA4.4x

▲Analyst target+26% (31 analysts)

Discounted cash flow

Bear

$473

-51%

growth 7% · disc. 10.1% · term. 2.0%

Base

$871

-11%

growth 12% · disc. 9.1% · term. 2.5%

Bull

$1,436

+47%

growth 16% · disc. 8.1% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 11% a year for 10 years.

Implied

+11%/yr

FCF, last 3 yrs

+10%/yr

FCF, last 5 yrs

+11%/yr

Revenue, last 3 yrs

+8%/yr

Revenue, last 5 yrs

+9%/yr

Same inputs as the DCF above: trailing free cash flow 3.9B, 9.1% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.97 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Real Estate

P/E (trailing)

sector median 27.6× · 80th pct

62.8×
pricier

Forward P/E

sector median 29.6× · 77th pct

52.7×
pricier

EV / EBITDA

sector median 17.2× · 93rd pct

26.8×
pricier

Price / sales

sector median 6.5× · 81st pct

9.8×
pricier

Price / book

sector median 1.8× · 92nd pct

6.7×
pricier

FCF yield

sector median 6.9% · 12th pct

4.0%
pricier

Forward EPS $18.53 vs trailing $15.54 (+19% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$15.0B

as of 2026-06-30

vs a year ago

+23%

YoY

× TTM revenue

1.53×

coverage

24-09

24-12

25-03

25-06

25-09

25-12

26-03

26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

51.5%

Operating margin

21.8%

FCF margin

39.4%

Net margin

15.6%

Return on equity

10.7%

Return on invested capital

5.8%

Net debt / EBITDA

4.4×

Current ratio

1.1×

Interest cover

3.8×

Cash conversion (OCF/NI)

2.6×

Piotroski F-score 5/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✗ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 2.8 (grey zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$1,233

+26%

Analysts

Strong Buy

Range

$1,060–$1,380

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$9.2B	$1.4B	$3.9B
2024	$8.7B	$815.0M	$3.2B
2023	$8.2B	$969.0M	$3.2B
2022	$7.3B	$705.0M	$3.0B
2021	$6.6B	$500.2M	$2.5B
2020	$6.0B	$369.8M	$2.3B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +8.3%.

Earnings

Next report: 2026-10-28 · after close · EPS est 3.96

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-07-29	4.80	5.10	+6.3%
2026-04-29	4.33	4.17	-3.8%
2026-02-11	3.88	3.37	-13.0%
2025-10-29	3.43	3.89	+13.2%
2025-07-30	3.44	3.79	+10.3%
2025-04-30	2.97	3.59	+20.8%
2025-02-12	2.74	2.97	+8.4%
2024-10-30	2.96	3.10	+4.6%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$2.6B	+16.4%
2026-03-31	$2.4B	–
2025-12-31	$2.4B	–
2025-09-30	$2.3B	–
2025-06-30	$2.3B	–

Analyst actions

Rothschild & Co

2026-09-21 · init

→ Buy
PT $1,261

BTIG

2026-09-10 · main

Buy → Buy
PT $1,240

Barclays

2026-09-08 · main

Equal-Weight → Equal-Weight
PT $1,135

Evercore ISI Group

2026-08-18 · main

Outperform → Outperform
PT $1,270

RBC Capital

2026-08-05 · main

Outperform → Outperform
PT $1,225

Truist Securities

2026-07-31 · main

Buy → Buy
PT $1,220

Recent dividends

2026-08-19: $5.160 · 2026-05-20: $5.160 · 2026-02-25: $5.160 · 2025-11-19: $4.690 · 2025-08-20: $4.690 · 2025-05-21: $4.690 · 2025-02-26: $4.690 · 2024-11-13: $4.260

Insider trades

Paladin Michael Shane

Chief Customer & Rev Officer · 2026-09-04

SELL
$317.7K

Paladin Michael Shane

Chief Customer & Rev Officer · 2026-09-02

SELL
$53.4K

Paladin Michael Shane

Chief Customer & Rev Officer · 2026-09-02

SELL
$152.8K

Pletcher Kurt

Chief Legal Officer · 2026-08-20

SELL
$145.2K

Paisley Christopher B

Director · 2026-08-18

SELL
$137.9K

Paisley Christopher B

Director · 2026-08-03

SELL
$4.1M

News

Why Equinix (EQIX) is a Top Dividend Stock for Your Portfolio

Zacks · 21h ago

What Changed For Cipher Digital Stock, And What Did Not?

Trefis · Oct 16

Equinix (EQIX) Stock Moves -1.03%: What You Should Know

Zacks · Oct 16

Equinix outlook upgraded to positive at Fitch on capital discipline, scale

Investing.com · Oct 15

The AI Boom Has a Landlord. These 3 REITs Are Getting Paid

24/7 Wall St. · Oct 15

AI Data Center Demand Puts Equinix Stock And Digital Realty Shares In Focus

Simply Wall St. · Oct 15

What Needs To Be True To Buy Cipher Digital Stock Now?

Trefis · Oct 14

Sara Eisen Went on Bill Maher and Said What Wall Street Will Not About the AI Race

24/7 Wall St. · Oct 14

Stats refreshed 2026-10-19 19:02:42 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Coteau Systematic StrategiesSystematic equity research and model portfolios.
Coteau Systematic Strategies publishes research, model portfolios and tools. It does not manage money or offer investment advice. Model results are hypothetical. Data: Yahoo Finance (delayed), SEC EDGAR.

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