Financials Equinix, Inc.

Equities

EQIX

US29444U7000

Specialized REITs

Market Closed - Nasdaq Other stock markets 21:00:00 16/07/2025 BST			5-day change	1st Jan Change
765.64 ^USD	+0.75%		+0.12%	-18.80%

07-14	Equinix, Inc. Appoints Shane Paladin as Executive Vice President and Chief Customer and Revenue Officer, Effective July 14, 2025	CI
07-11	Jefferies Adjusts Price Target on Equinix to $1,010 From $940, Maintains Buy Rating	MT

Projected Income Statement: Equinix, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	5,999	6,636	7,263	8,188	8,748	9,223	9,980	10,818
Change	-	10.62%	9.46%	12.74%	6.84%	5.43%	8.21%	8.39%
EBITDA ¹	2,853	3,144	3,370	3,702	4,097	4,541	5,006	5,536
Change	-	10.22%	7.17%	9.86%	10.67%	10.84%	10.23%	10.59%
EBIT ¹	1,053	1,108	1,201	1,443	1,328	1,992	2,238	2,605
Change	-	5.25%	8.34%	20.22%	-7.99%	49.96%	12.38%	16.41%
Interest Paid ¹	-406.5	-336.1	-356.3	-402	-457	-522.2	-577.8	-800.3
Earnings before Tax (EBT) ¹	516.2	609	829.4	1,124	975	1,648	1,786	2,006
Change	-	17.96%	36.2%	35.55%	-13.27%	69.05%	8.38%	12.29%
Net income ¹	369.8	500.2	704.3	969.2	815	1,419	1,539	1,694
Change	-	35.27%	40.82%	37.6%	-15.91%	74.13%	8.44%	10.04%
Announcement Date	10/02/21	16/02/22	15/02/23	14/02/24	12/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	1,470	1,520	1,564	1,596	1,658	1,675	1,706	1,734	1,817	1,841	1,871	1,998	2,018	2,061	2,110	2,127	2,159	2,201	2,261	2,225	2,257	2,340	2,405	2,424	2,475	2,528	2,573	2,586
Change	-	3.38%	2.92%	2.04%	3.88%	1.04%	1.86%	1.64%	4.77%	1.29%	1.64%	6.81%	1.01%	2.11%	2.4%	0.78%	1.5%	1.95%	2.73%	-1.59%	1.43%	3.67%	2.78%	0.8%	2.11%	2.14%	1.79%	0.48%
EBITDA ¹	720	737.2	711.4	773.2	797.3	786.3	787.6	799.7	860.3	870.9	838.7	944.3	901.2	935.9	920.5	992	1,036	1,048	1,021	1,067	1,101	1,157	1,184	1,177	1,226	1,271	1,282	1,318
Change	-	2.39%	-3.51%	8.69%	3.11%	-1.38%	0.16%	1.54%	7.58%	1.23%	-3.69%	12.58%	-4.57%	3.86%	-1.65%	7.77%	4.44%	1.16%	-2.58%	4.51%	3.2%	5.06%	2.33%	-0.59%	4.2%	3.67%	0.87%	2.78%
EBIT ¹	282.5	288.4	228.6	297.7	278.7	282.1	249.7	267.3	317.9	333.2	282.2	384.1	332.4	380.4	346.4	364	436	425	103	458	483.1	520.5	533.5	536.3	542.7	578.5	572.2	-
Change	-	2.08%	-20.72%	30.21%	-6.39%	1.24%	-11.48%	7.04%	18.91%	4.82%	-15.3%	36.12%	-13.47%	14.43%	-8.92%	5.08%	19.78%	-2.52%	-75.76%	344.66%	5.48%	7.74%	2.5%	0.52%	1.19%	6.6%	-1.1%	-
Charge d'intérêts ¹	-108.5	-99.74	-90.91	-89.68	-87.23	-78.94	-80.23	-79.96	-90.83	-91.35	-94.2	-97.48	-99.97	-101.4	-103.2	-104	-110	-117	-126	-122	-129	-131.7	-132.7	-143	-143.4	-144.9	-146	-192.6
Earnings before Tax (EBT) ¹	178.1	96.73	92.24	188.7	49.96	205.2	165	180.4	224.9	246.3	177.7	313.8	244.4	295.7	270.3	277	348	350	-	392	394.3	425.7	440.1	417.1	426.3	457	445.1	-
Change	-	-45.69%	-4.65%	104.58%	-73.52%	310.83%	-19.59%	9.33%	24.63%	9.55%	-27.86%	76.57%	-22.11%	21.01%	-8.6%	2.48%	25.63%	0.57%	-	-	0.59%	7.96%	3.4%	-5.24%	2.2%	7.21%	-2.6%	-
Net income ¹	133.3	66.69	50.99	156.4	68.34	152.2	123.3	147.5	216.3	211.8	128.8	258.8	207	275.8	227.6	231	301	297	-14	343	339.9	366	374.7	360.1	371.3	402.3	387.5	413.5
Change	-	-49.97%	-23.53%	206.63%	-56.29%	122.74%	-19.01%	19.61%	46.71%	-2.09%	-39.21%	100.98%	-20%	33.21%	-17.49%	1.51%	30.3%	-1.33%	-104.71%	2,550%	-0.89%	7.66%	2.38%	-3.88%	3.1%	8.35%	-3.68%	6.72%
Announcement Date	29/07/20	28/10/20	10/02/21	28/04/21	28/07/21	03/11/21	16/02/22	27/04/22	27/07/22	02/11/22	15/02/23	03/05/23	02/08/23	25/10/23	14/02/24	08/05/24	07/08/24	30/10/24	12/02/25	30/04/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Equinix, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	10,856	12,205	13,151	12,899	13,206	16,949	19,105	20,925
Change	-	12.43%	7.75%	-1.92%	2.38%	28.34%	12.72%	9.53%
Announcement Date	10/02/21	16/02/22	15/02/23	14/02/24	12/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Equinix, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	2,283	2,752	2,278	2,781	3,066	3,531	4,066	4,098
Change	-	20.55%	-17.21%	22.08%	10.25%	15.18%	15.15%	0.78%
Free Cash Flow (FCF) ¹	361.7	4.279	935.1	435.6	183	230.5	-339	-458.6
Change	-	-98.82%	21,752.86%	-53.42%	-57.99%	25.94%	-247.1%	-35.27%
Announcement Date	10/02/21	16/02/22	15/02/23	14/02/24	12/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Equinix, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	47.56%	47.39%	46.39%	45.21%	46.83%	49.24%	50.16%	51.18%
EBIT Margin (%)	17.55%	16.7%	16.53%	17.63%	15.18%	21.59%	22.42%	24.08%
EBT Margin (%)	8.61%	9.18%	11.42%	13.73%	11.15%	17.87%	17.9%	18.54%
Net margin (%)	6.16%	7.54%	9.7%	11.84%	9.32%	15.39%	15.42%	15.66%
FCF margin (%)	6.03%	0.06%	12.87%	5.32%	2.09%	2.5%	-3.4%	-4.24%
FCF / Net Income (%)	97.82%	0.86%	132.76%	44.94%	22.45%	16.24%	-22.03%	-27.08%
Profitability
ROA	1.45%	1.82%	2.42%	3.08%	3.18%	3.83%	4.07%	4.47%
ROE	3.8%	4.65%	6.22%	8.08%	8.27%	10.52%	11.25%	12.74%
Financial Health
Leverage (Debt/EBITDA)	3.81x	3.88x	3.9x	3.48x	3.22x	3.73x	3.82x	3.78x
Debt / Free cash flow	30.01x	2,852.29x	14.06x	29.61x	72.16x	73.54x	-56.35x	-45.63x
Capital Intensity
CAPEX / Current Assets (%)	38.05%	41.47%	31.36%	33.96%	35.05%	38.29%	40.75%	37.88%
CAPEX / EBITDA (%)	80.01%	87.51%	67.6%	75.13%	74.84%	77.76%	81.23%	74.02%
CAPEX / FCF (%)	631.02%	64,302.69%	243.61%	638.47%	1,675.41%	1,532.27%	-1,199.5%	-893.59%
Items per share
Cash flow per share ¹	26.13	28.17	32.27	34.22	33.9	39.28	42.27	45.95
Change	-	7.84%	14.53%	6.03%	-0.91%	15.84%	7.61%	8.71%
Dividend per Share ¹	10.64	11.48	-	14.49	17.04	18.79	20.36	22.22
Change	-	7.89%	-	-	17.6%	10.29%	8.34%	9.13%
Book Value Per Share ¹	121.3	121.3	125.7	132.2	139.1	143.2	144.2	145.4
Change	-	0%	3.63%	5.2%	5.19%	3.01%	0.67%	0.87%
EPS ¹	4.18	5.53	7.67	10.31	8.5	14.44	15.47	17.09
Change	-	32.3%	38.7%	34.42%	-17.56%	69.83%	7.14%	10.46%
Nbr of stocks (in thousands)	89,102	90,041	92,538	93,883	96,488	97,819	97,819	97,819
Announcement Date	10/02/21	16/02/22	15/02/23	14/02/24	12/02/25	-	-	-