Equinix (EQIX)
Carrier-neutral data centers linking enterprises, networks and cloud providers through colocation and interconnection.
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Rents carrier-neutral data-center space and power, then earns recurring fees from cross-connects, Equinix Fabric, managed infrastructure and network services. A global footprint concentrates cloud providers, networks and enterprises in shared facilities, while joint-venture xScale sites serve hyperscale workloads.
Rents secure data-center space and power through carrier-neutral International Business Exchange (IBX) facilities, then sells physical cross-connects and software-defined links through Equinix Fabric. Managed infrastructure, Network Edge, internet exchange and remote support round out a predominantly recurring-revenue model.
Spans the Americas, EMEA and Asia-Pacific, placing enterprises, networks, cloud providers and software companies in shared facilities. That dense mix is the operating advantage: customers can connect privately to many counterparties inside one ecosystem. xScale data centers, developed and operated through joint ventures, serve core cloud and AI workloads for hyperscale customers.
Execution depends on securing power, building and operating resilient facilities, retaining diverse carriers and renewing leases on sites it does not own. REIT status also requires distributing taxable income and limits the mix of qualifying income and assets.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Redburn Partners | Target | Target: — | Target: $1,261 |
| Sep 10, 2026 | BTIG | Reiterate | Rating: —Target: $1,210 | Target: $1,240 |
| Sep 8, 2026 | Barclays | Reiterate | Rating: —Target: $1,130 | Target: $1,135 |
| Aug 18, 2026 | Evercore ISI | Reiterate | Rating: —Target: $1,240 | Target: $1,270 |
| Aug 14, 2026 | HSBC | Reiterate | Rating: —Target: $1,250 | Target: $1,400 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.22B · Total debt $23.36B · Total assets $41.08B · Shareholders' equity $14.38B
- Revenue
- $2.63B
- Operating income
- $665.0M
- Net income
- $479.0M
HistoryDividendAnnual yield
| Institutions | 99.38% | 98.06M shares | |
|---|---|---|---|
| 1,401 holders · as of Jun 30, 2026 | |||
| Insiders | 0.25% | 249.7K shares | |
| 17 holders · as of Sep 8, 2026 | |||
| Other | 0.37% | 362.7K shares | |
| remainder | |||
98.67M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.60% | 11.44M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.53% | 6.44M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.18% | 6.10M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.11% | 6.03M | as of Jun 30, 2026 |
FMR LLCInstitution | 2.91% | 2.87M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 4, 2026 | Michael Shane Paladin | officer: Chief Customer & Rev Officer | −307 | $1,035.01 |
| Sep 2, 2026 | Michael Shane Paladin | officer: Chief Customer & Rev Officer | −203 | $1,015.71 |
| Aug 20, 2026 | Kurt Pletcher | officer: Chief Legal Officer | −135 | $1,075.50 |
| Aug 18, 2026 | Christopher B. Paisley | director | −125 | $1,103.58 |
| Aug 3, 2026 | Christopher B. Paisley | director | −4,000 | $1,019.28 |
- Digital Realty
Closest global peer: colo + interconnection REIT at 300+ facilities worldwide
- Amazon
AWS Direct Connect vs Equinix Fabric; largest hyperscale displacing colo
- Microsoft
Azure ExpressRoute vs Equinix Fabric; dominant enterprise cloud displaces colo
- Iron Mountain
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- GDS (ADR)
China's largest carrier-neutral colo; key peer for Greater China/APAC
- Alphabet Class A
Google Cloud Interconnect at 44+ Equinix metros vs Equinix Fabric
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Equinix | $1,058.88 | +0.15% | $104.32B | 68.1 | 60.9 | 10.6 | +16.4% |
| Digital Realty | $186.50 | +0.09% | $68.94B | 90.0 | 79.8 | 10.1 | +28.9% |
| Amazon | $255.36 | −1.20% | $2.78T | 20.8 | 27.4 | 3.6 | +19.6% |
| Microsoft | $494.98 | −1.32% | $3.72T | 27.9 | 25.2 | 11.2 | +17.8% |
| Iron Mountain | $117.85 | +0.82% | $34.78B | 83.5 | 46.2 | 4.6 | +18.5% |
| GDS (ADR) | $33.50 | −2.19% | $6.68B | 16.7 | 113.6 | 3.6 | +12.3% |
| Alphabet Class A | $358.40 | +0.97% | $4.30T | 17.8 | 26.7 | 9.6 | +24.2% |
| Median | 24.4 | 36.8 | 7.1 | +19.1% |