Equinix (EQIX): analysis in plain words
Is Equinix cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Equinix (EQIX) is listed on the Nasdaq and we classify it in real estate. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Equinix according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Equinix (EQIX) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $1,054.09 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 63.3x | Price over earnings per share |
| Revenue growth | +10.4% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 16.2% | Profit for every 100 of sales |
| Net debt / EBITDA | 5.1x | Years of operating profit to repay debt |
| Dividend yield | 2.03% | Annual dividend over price |
| Market cap | $104.3 billion | What the stock market values it at |
The Equinix figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any EQIX figure that is not available shows as N/A: we do not estimate it.
How Equinix makes money
Equinix is a REIT that rents space, power and connectivity inside data centers across the Americas, Europe and Asia-Pacific. Cloud providers, telecom carriers and banks place their servers there and link directly to one another. Recurring colocation and interconnection fees drive revenue, and its xScale program builds large facilities for hyperscalers.
Over the last 12 months, Equinix brought in revenue of $10.1 billion. For every 100 it sells, Equinix keeps 52.0 after the direct cost of what it sells (gross margin) and 25.0 after all operating costs (operating margin). With 13,716 full-time employees, that is about $740,000 of revenue per employee.
Equinix against its sector
To know whether a Equinix figure is high or low you have to put it next to similar companies. This table compares Equinix with the median of the 9 real estate companies Fintols covers, with data as of November 4, 2026.
| Figure | Equinix | real estate median |
|---|---|---|
| P/E | 63.3x | 28.9x (9) |
| Revenue growth | +10.4% | +10.4% (9) |
| Net margin | 16.2% | 37.7% (9) |
| Dividend yield | 2.03% | 3.60% (9) |
| Net debt / EBITDA | 5.1x | 5.5x (9) |
In short, against the typical real estate company, Equinix trades on a higher P/E, earns a thinner margin and pays a lower dividend yield. By size, Equinix ranks number 3 of 7 real estate companies quoted in USD on Fintols.
The bull case for Equinix
These are the strengths in the Equinix figures as of November 4, 2026:
- Analysts expect Equinix earnings to rise: its P/E on the next 12 months of estimated earnings is 50.9x, below the current 63.3x.
- Equinix is selling more than a year ago: +10.4% in its latest quarter (the typical real estate company grew +10.4%).
The main risk for Equinix
The price already assumes a lot: Equinix trades at 63.3x its last 12 months of earnings, against 28.9x for the real estate median. If growth disappoints, the multiple can shrink and the share price with it.
On top of that: debt is heavy: Equinix carries net debt equal to 5.1x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
And, like the rest of real estate, Equinix is exposed to interest rates, which raise its borrowing costs and lower property values, and vacant space.
Frequently asked questions about Equinix
Is it a good time to buy Equinix stock?
Fintols does not tell you whether to buy or sell Equinix, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Equinix stock trades at $1,054.09, 7% below its 52-week high ($1,128.68) and 46% above its low ($720.62). Its P/E is 63.3x against a real estate median of 28.9x, and 50.9x on the earnings analysts expect over the next 12 months. With Equinix, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Equinix pay a dividend?
Yes. As of November 4, 2026, Equinix pays $20.64 per share a year, which at today's price is a yield of 2.03%. It uses 121% of its profit to pay it, more than it earns, which cannot last forever. The real estate median on Fintols is 3.60%.
Is Equinix stock expensive?
It depends on what you compare it with. On P/E, Equinix trades at 63.3x its last 12 months of earnings: more expensive than the real estate median (28.9x). Including its debt, Equinix is valued at 26.5x its EBITDA (EV/EBITDA). A high P/E alone does not make Equinix expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Equinix's competitors?
On Fintols we compare Equinix with Realty Income, Public Storage and Inmobiliaria Colonial, which are also in real estate. As of November 4, 2026, Realty Income is worth $56.0 billion and trades on a P/E of 40.6; Public Storage is worth $64.0 billion and trades on a P/E of 36.0; Inmobiliaria Colonial is worth €3.3 billion and trades on a P/E of 9.7. Each has a side-by-side comparison with Equinix below.
Equinix competitors
- Realty Income (O) analysis · Equinix vs Realty Income comparison
- Public Storage (PSA) analysis · Equinix vs Public Storage comparison
- Inmobiliaria Colonial (COL) analysis · Equinix vs Inmobiliaria Colonial comparison
To understand Equinix better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- How to Read a Balance Sheet: A Beginner's Guide
More companies like Equinix: real estate stocks and S&P 500 companies. Open the full EQIX analysis with its valuation and scenarios. Educational content about Equinix, not investment advice.