Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.61B | $4.37B | $5.07B | $5.56B | $6.00B | $6.64B | $7.26B | $8.19B | $8.75B | $9.22B |
| Revenue growth | — | 20.9% | 16.1% | 9.7% | 7.8% | 10.6% | 9.5% | 12.7% | 6.8% | 5.4% |
| Operating income | $619M | $809M | $977M | $1.17B | $1.05B | $1.11B | $1.20B | $1.44B | $1.33B | $1.85B |
| Operating margin | 17.1% | 18.5% | 19.3% | 21.0% | 17.6% | 16.7% | 16.5% | 17.6% | 15.2% | 20.0% |
| Net income | $127M | $233M | $365M | $507M | $370M | $500M | $705M | $969M | $815M | $1.35B |
| Net margin | 3.5% | 5.3% | 7.2% | 9.1% | 6.2% | 7.5% | 9.7% | 11.8% | 9.3% | 14.6% |
| EPS (diluted) | $1.79 | $3.00 | $4.56 | $5.99 | $4.18 | $5.53 | $7.67 | $10.31 | $8.50 | $13.76 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.02B | $1.44B | $1.82B | $1.99B | $2.31B | $2.55B | $2.96B | $3.22B | $3.25B | $3.91B |
| Capital expenditures | $1.11B | $1.38B | $2.10B | $2.08B | $2.28B | $2.75B | $2.28B | $2.78B | $3.07B | $4.31B |
| Free cash flow | -$94.0M | $60.5M | -$281M | -$86.8M | $27.3M | -$204M | $685M | $436M | $183M | -$400M |
| Share buybacks | $0.00 | — | — | — | — | — | — | — | — | — |
| Dividends paid | $499M | $621M | $739M | $836M | $948M | $1.04B | $1.15B | $1.38B | $1.64B | $1.86B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $748M | $1.41B | $606M | $1.87B | $1.60B | $1.54B | $1.91B | $2.10B | $3.08B | $1.73B |
| Total assets | $12.6B | $18.7B | $20.2B | $24.0B | $27.0B | $27.9B | $30.3B | $32.7B | $35.1B | $40.1B |
| Total liabilities | $8.24B | $11.8B | $13.0B | $15.1B | $16.4B | $17.0B | $18.8B | $20.1B | $21.5B | $26.0B |
| Long-term debt | $5.31B | $8.47B | $9.89B | $10.4B | $10.6B | $11.7B | $12.9B | $13.8B | $15.3B | — |
| Shareholders' equity | $4.37B | $6.85B | $7.22B | $8.84B | $10.6B | $10.9B | $11.5B | $12.5B | $13.5B | $14.2B |
| Retained earnings | $18.6M | $253M | $890M | $884M | $1.76B | $2.26B | $2.96B | $3.93B | $4.75B | $6.10B |
| Shares (wtd avg diluted) | 70.8M | 77.5M | 80.2M | 84.7M | 88.4M | 90.4M | 91.8M | 94.0M | 95.8M | 98.1M |
Every figure is extracted from EQUINIX INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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