Equinix (EQIX) FY2012 results: revenue $1.9 billion, up 20.6% on the year
Equinix Inc. (EQIX) reported revenue of $1.9 billion for fiscal 2012, the year ended 31 December 2012, up 20.6% on the year before. Net income was $140 million, up 47.7%, and diluted earnings per share $2.83. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$1.9 billion
+20.6% on the year
FY2008FY2012
Operating margin
20.8%
19.5% a year earlier
FY2008FY2012
Net income
$140 million
+47.7% on the year
FY2008FY2012
Diluted EPS
$2.83
+64.5% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
1,887
1,566
1,196
+20.6%
Cost of revenue
944
829
652
+13.9%
Gross profit
943
737
544
+28.1%
Gross margin
50.0%
47.0%
45.5%
Operating income
393
306
194
+28.4%
Operating margin
20.8%
19.5%
16.2%
Interest expense
200
181
140
+10.5%
Pre-tax income
189
130
48.8
+45.4%
Income tax
58.6
37.3
12.6
+56.8%
Effective tax rate
31.0%
28.8%
25.8%
Net income
140
94.8
36.9
+47.7%
Net margin
7.4%
6.1%
3.1%
Diluted EPS
$2.83
$1.72
$0.82
+64.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
632
588
393
+7.6%
Capital expenditure
1,099
28.1
14.9
+3,814.5%
Free cash flow
-467
560
378
Free cash flow margin
-24.7%
35.7%
31.6%
Cash from investing
-443
-1,499
-601
Cash from financing
-223
749
310
Depreciation and amortisation
391
334
251
+17.1%
Share-based compensation
83.0
71.5
67.5
+16.1%
Buybacks
13.4
86.7
n/a
-84.6%
Diluted shares, weighted
52m
48m
45m
+8.2%
Shares outstanding at period end
49m
47m
46m
+4.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,313
1,936
1,864
+19.5%
Debt
2,450
2,697
1,787
-9.2%
Other liabilities
1,370
1,152
798
+18.9%
Total liabilities and equity
6,133
5,785
4,448
+6.0%
Fixed assets
3,919
3,226
2,651
+21.5%
Goodwill
1,043
866
774
+20.3%
Intangible assets
202
149
151
+35.6%
Investments
294
798
150
-63.1%
Cash and equivalents
252
279
443
-9.5%
Receivables
164
139
116
+17.8%
Other assets
259
329
163
-21.1%
Total assets
6,133
5,785
4,448
+6.0%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.