EQUINIX INC

EQIX 10-Q · Q3 2025

EQIX Q3 2025 request

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Income Statement

Income Statement
Metric Q3 2025 Q3 2024 YoY
Revenue 2,316 2,201 +5.2%
Show Product Lines breakouts
Colocation 1,637 1,520 +7.7%
Colocation · Americas 682 617 +10.5%
Colocation · Asia-Pacific 367 337 +8.9%
Colocation · EMEA 588 566 +3.9%
Interconnection 422 384 +9.9%
Interconnection · Americas 239 224 +6.7%
Interconnection · Asia-Pacific 83 74 +12.2%
Interconnection · EMEA 100 86 +16.3%
Managed infrastructure 118 118 0.0%
Managed infrastructure · Americas 61 66 -7.6%
Managed infrastructure · Asia-Pacific 18 17 +5.9%
Managed infrastructure · EMEA 39 35 +11.4%
Non-recurring revenues 101 142 -28.9%
Non-recurring revenues · Americas 48 44 +9.1%
Non-recurring revenues · Asia-Pacific 25 68 -63.2%
Non-recurring revenues · EMEA 28 30 -6.7%
Other 38 37 +2.7%
Other · Americas 5 7 -28.6%
Other · Asia-Pacific 4 4 0.0%
Other · EMEA 29 26 +11.5%
Recurring revenues 2,215 2,059 +7.6%
Recurring revenues · Americas 987 914 +8.0%
Recurring revenues · Asia-Pacific 472 432 +9.3%
Recurring revenues · EMEA 756 713 +6.0%
Show Business Segments breakouts
Americas 1,035 958 +8.0%
Asia-Pacific 497 500 -0.6%
EMEA 784 743 +5.5%
Show Geography breakouts
US 892 819 +8.9%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
EMEA 1 Joint Venture · Corporate Joint Venture 7 7 0.0%
VIE Joint Ventures · Corporate Joint Venture 23 73 -68.5%
Cost of Revenue 1,142 1,098 +4.0%
Sales & Marketing 219 237 -7.6%
General & Administrative 470 434 +8.3%
Restructuring Charges 5
Business Combination Acquisition Related Costs 3 7 -57.1%
Asset Impairment Charges 4
Gain Loss On Disposition Of Assets1 -1
Total Costs & Expenses 1,842 1,776 +3.7%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
EMEA 1 Joint Venture · Corporate Joint Venture 6 4 +50.0%
VIE Joint Ventures · Corporate Joint Venture 4 1 +300.0%
Operating Income 474 425 +11.5%
Interest Income 53 35 +51.4%
Interest Expense -128 -117 -9.4%
Income Before Taxes 399 350 +14.0%
Income Tax Expense (Benefit) -25 -54 +53.7%
Net Income 374 296 +26.4%
Show Equity Components breakouts
Parent 374 297 +25.9%
Retained Earnings 374 297 +25.9%
Net Income 374 297 +25.9%
EPS (Basic) 3.82 3.11 +22.8%
Wtd Avg Shares (Basic) 97,982 95,394 +2.7%
EPS (Diluted) 3.81 3.1 +22.9%
Wtd Avg Shares (Diluted) 98,174 95,731 +2.6%
Comprehensive Income 354 555 -36.2%
Net Income Loss Available To Common Stockholders Basic 374 297 +25.9%
Income Loss From Equity Method Investments -5 -3 -66.7%

Balance Sheet

Balance Sheet
Metric Q3 2025 Q3 2024 YoY
Current Assets
Cash & Cash Equivalents 2,077 2,776 -25.2%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 11 21 -47.6%
Short-Term Investments 854 451 +89.4%
Accounts Receivable 1,144 1,123 +1.9%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary · Corporate Joint Venture 42 78 -46.2%
Show Counterparty Name breakouts
VIE Joint Venture · Corporate Joint Venture 42 78 -46.2%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
EMEA 1 Joint Venture · Corporate Joint Venture 22 14 +57.1%
Other Assets Current 891 705 +26.4%
Total Current Assets 4,966 5,055 -1.8%
Non-Current Assets
Property, Plant & Equipment 21,897 19,665 +11.4%
Show Business Segments breakouts
Americas 10,364 9,076 +14.2%
Asia-Pacific 4,087 3,904 +4.7%
EMEA 7,446 6,685 +11.4%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 56 22 +154.5%
Operating Lease Right-of-Use Assets 1,439 1,487 -3.2%
Show Business Segments breakouts
Americas 357 398 -10.3%
Asia-Pacific 636 681 -6.6%
EMEA 446 408 +9.3%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary · Corporate Joint Venture 31 3 +933.3%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
EMEA 1 Joint Venture · Corporate Joint Venture 2 2 0.0%
Goodwill 5,945
Show Business Acquisition breakouts
Total Information Management Philippines 127
Intangible Assets 1,331 1,544 -13.8%
Other Non-Current Assets 2,482 1,919 +29.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 11 5 +120.0%
Total Assets 38,060 35,438 +7.4%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 78 48 +62.5%
Current Liabilities
Accounts Payable And Accrued Liabilities Current 1,275 1,125 +13.3%
Accrued Property Plant And Equipment 482
Operating Lease Liability Current 159 149 +6.7%
Finance Lease Liability Current 157 202 -22.3%
Loans Payable Current 17 5 +240.0%
Senior Notes Current 699 2,198 -68.2%
Other Liabilities Current 280 297 -5.7%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary · Corporate Joint Venture 11 10 +10.0%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
EMEA 1 Joint Venture · Corporate Joint Venture 5 5 0.0%
Total Current Liabilities 3,069 4,370 -29.8%
Deferred Revenue (Current) 128 128 0.0%
Current Portion of Long-Term Debt (Q)
Show Long-Term Debt Type breakouts
Senior Notes -699 -2,198 +68.2%
Non-Current Liabilities
Operating Lease Liabilities 1,334 1,366 -2.3%
Finance Lease Liability Noncurrent 2,140 2,193 -2.4%
Other Non-Current Liabilities 861 822 +4.7%
Total Liabilities 23,880 21,826 +9.4%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 33 3 +1000.0%
Long-Term Debt 17,328 15,395 +12.6%
Show Credit Facility breakouts
Unsecured Debt · Line Of Credit 672 667 +0.7%
Show Long-Term Debt Type breakouts
Senior Notes 16,488 14,585 +13.0%
Long-Term Debt (Q)
Show Long-Term Debt Type breakouts
Senior Notes 15,789 12,387 +27.5%
Contract With Customer Liability Noncurrent 173 145 +19.3%
Other Liabilities
Long Term Loans Payable 687 688 -0.1%
Senior Long Term Notes 15,789 12,387 +27.5%
Redeemable Noncontrolling Interest Equity Redemption Value 25 25 0.0%
Stockholders' Equity
Additional Paid In Capital Common Stock 21,503 20,069 +7.1%
Treasury Stock Common Value -24 -40 +40.0%
Cumulative Dividends -11,737 -9,921 -18.3%
Accumulated Other Comprehensive Income -1,419 -1,283 -10.6%
Retained Earnings 5,834 4,763 +22.5%
Total Stockholders' Equity 14,157 13,588 +4.2%
Minority Interest -2 -1 -100.0%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 14,155 13,587 +4.2%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment Net Unamortized Gain Loss -1 -1 0.0%
Accumulated Distributions In Excess Of Net Income -11,737 -9,921 -18.3%
Accumulated Gain Loss Net Cash Flow Hedge Parent -32 21 -252.4%
Accumulated Other Comprehensive Income -1,419 -1,283 -10.6%
Accumulated Translation Adjustment -1,632 -1,603 -1.8%
Additional Paid In Capital 21,503 20,069 +7.1%
Net investment hedge CTA gain (loss) 246 300 -18.0%
Noncontrolling Interest -2 -1 -100.0%
Parent 14,157 13,588 +4.2%
Retained Earnings 5,834 4,763 +22.5%
Treasury Stock Common -24 -40 +40.0%
Total Liabilities & Equity 38,060 35,438 +7.4%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q3 2025 YTD Q3 2024 YoY
Operating Activities
Depreciation Amortization And Accretion Net 1,515 1,509 +0.4%
Stock-Based Compensation 370 348 +6.3%
Other Non-Cash Items 21 70 -70.0%
Change in Accounts Receivable -180 -153 -17.6%
Increase Decrease In Income Taxes -91 -14 -550.0%
Increase Decrease In Operating Lease Right Of Use Assets 122 117 +4.3%
Increase Decrease In Operating Lease Liability -113 -102 -10.8%
Increase Decrease In Accounts Payable And Accrued Liabilities -49 -98 +50.0%
Increase Decrease In Other Operating Capital Net 84 -219 +138.4%
Net Cash from Operations 2,767 2,268 +22.0%
Depreciation & Amortization 1,508 1,511 -0.2%
Show Business Segments breakouts
Americas 839 848 -1.1%
Asia-Pacific 275 266 +3.4%
EMEA 394 397 -0.8%
Investing Activities
Payments To Acquire Equity Method Investments -54 -65 +16.9%
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital 17
Payments To Acquire Short Term Investments -1,092 -450 -142.7%
Proceeds From Sale Maturity And Collections Of Investments 770
Payments To Acquire Businesses Net Of Cash Acquired -182
Payments To Acquire Real Estate -391 -287 -36.2%
Payments To Acquire Other Property Plant And Equipment -2,875 -2,079 -38.3%
Payments For Proceeds From Derivative Instrument Investing Activities 95
Payments To Acquire Loans Receivable -62 -196 +68.4%
Net Cash from Investing -3,774 -2,826 -33.5%
Financing Activities
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options 95 92 +3.3%
Payments Of Dividends -1,395 -1,230 -13.4%
Proceeds From Issuance Of Common Stock 99 976 -89.9%
Proceeds From Issuance Of Senior Long Term Debt 2,566 1,524 +68.4%
Finance Lease Principal Payments -111 -101 -9.9%
Proceeds From Minority Shareholders 3 4 -25.0%
Repayments Of Senior Debt -1,200
Proceeds From Payments For Other Financing Activities -10 -20 +50.0%
Net Cash from Financing 47 1,245 -96.2%
Supplemental
Interest Paid 324 313 +3.5%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 43 -7 +714.3%
Net Change in Cash -917 680 -234.9%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 2,165 2,776 -22.0%
Restricted Cash And Cash Equivalents At Carrying Value 60
Restricted Cash And Cash Equivalents Noncurrent 28

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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