Equinix, Inc.
Real EstateNASDAQ:EQIX · NASDAQ Global Select
+$12.67 today
Vol 0.49M · Avg 0.56M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$9.5B of revenue converted into $1.4B of net income for the selected period. Gross margin is 51.3% and net margin is 15.1%, showing how much revenue survives after costs and taxes. EPS is $14.45, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.3B +5.9% | $8.7B +6.8% | $8.2B +12.7% | $7.3B +9.5% | $6.6B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $4.5B +0.9% | $4.5B +5.7% | $4.2B +12.7% | $3.8B +8.0% | $3.5B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $4.8B +11.0% | $4.3B +8.1% | $4.0B +12.8% | $3.5B +11.0% | $3.2B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 51.3% +2.4pp | 48.9% +0.6pp | 48.4% +0.0pp | 48.4% +0.7pp | 47.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $2.7B +3.3% | $2.7B +5.9% | $2.5B +9.8% | $2.3B +11.9% | $2.0B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $2.9B -1.7% | $3.0B +17.3% | $2.5B +8.9% | $2.3B +12.5% | $2.1B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $2.1B +2.8% | $2.0B +8.9% | $1.8B +6.2% | $1.7B +4.9% | $1.7B | $374.2M | $1.2B | $631.8M |
| EBITDA | $4.1B +18.3% | $3.4B +2.1% | $3.4B +15.4% | $2.9B +12.3% | $2.6B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 44.0% +4.6pp | 39.3% -1.8pp | 41.2% +0.9pp | 40.2% +1.0pp | 39.2% | 5.6% | 46.3% | 42.0% |
| Operating Income | $1.8B +39.2% | $1.3B -8.0% | $1.4B +20.3% | $1.2B +8.3% | $1.1B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 20.0% +4.8pp | 15.2% -2.4pp | 17.6% +1.1pp | 16.5% -0.2pp | 16.7% | 16.6% | 24.1% | 22.0% |
| Interest Income | $193.0M +40.9% | $137.0M +45.7% | $94.0M +161.1% | $36.0M +1261.6% | $2.6M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $569.0M +24.5% | $457.0M +13.7% | $402.0M +12.9% | $356.0M +5.9% | $336.1M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$340.0M +3.7% | -$353.0M -10.7% | -$319.0M +14.0% | -$371.0M +25.7% | -$499.2M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $1.5B +54.7% | $975.0M -13.3% | $1.1B +35.6% | $829.0M +36.1% | $609.0M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 16.3% +5.1pp | 11.1% -2.6pp | 13.7% +2.3pp | 11.4% +2.2pp | 9.2% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $160.0M -0.6% | $161.0M +3.9% | $155.0M +25.0% | $124.0M +13.5% | $109.2M | $1.3B | -$1.6B | $745.2M |
| Net Income | $1.4B +65.6% | $815.0M -15.9% | $969.2M +37.6% | $704.3M +40.8% | $500.2M | $4.9B | $4.8B | $4.7B |
| Net Margin | 14.6% +5.3pp | 9.3% -2.5pp | 11.8% +2.1pp | 9.7% +2.2pp | 7.5% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $14 +61.5% | $9 -17.5% | $10 +34.6% | $8 +38.1% | $6 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $14 +61.9% | $9 -17.6% | $10 +34.4% | $8 +38.7% | $6 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $97.9M +2.5% | $95.5M +2.0% | $93.6M +2.2% | $91.6M +2.0% | $89.8M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $98.1M +2.4% | $95.8M +1.9% | $94.0M +2.4% | $91.8M +1.6% | $90.4M | $1.2B | $924.4M | $678.0M |
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How much revenue does EQIX generate?
Equinix, Inc. (EQIX) reported $9.26B of revenue in fiscal 2025.
Is EQIX profitable?
Equinix, Inc. (EQIX) reported $1.35B of net income, with a net margin of 14.6%.
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