Equinix (EQIX) FY2013 results: revenue $2.2 billion, up 14.1% on the year
Equinix Inc. (EQIX) reported revenue of $2.2 billion for fiscal 2013, the year ended 31 December 2013, up 14.1% on the year before. Net income was $95 million, down 32.4%, and diluted earnings per share $1.89. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$2.2 billion
+14.1% on the year
FY2008FY2013
Operating margin
21.4%
20.8% a year earlier
FY2008FY2013
Net income
$95 million
-32.4% on the year
FY2008FY2013
Diluted EPS
$1.89
-33.2% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,153
1,887
1,566
+14.1%
Cost of revenue
1,064
944
829
+12.8%
Gross profit
1,088
943
737
+15.4%
Gross margin
50.6%
50.0%
47.0%
Operating income
461
393
306
+17.3%
Operating margin
21.4%
20.8%
19.5%
Interest expense
249
200
181
+24.2%
Pre-tax income
112
189
130
-40.5%
Income tax
16.2
58.6
37.3
-72.4%
Effective tax rate
14.4%
31.0%
28.8%
Net income
94.7
140
94.8
-32.4%
Net margin
4.4%
7.4%
6.1%
Diluted EPS
$1.89
$2.83
$1.72
-33.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
605
632
588
-4.3%
Capital expenditure
572
1,099
28.1
-47.9%
Free cash flow
32.2
-467
560
Free cash flow margin
1.5%
-24.7%
35.7%
Cash from investing
-1,169
-443
-1,499
Cash from financing
575
-223
749
Depreciation and amortisation
433
391
334
+10.8%
Share-based compensation
103
83.0
71.5
+24.0%
Buybacks
48.8
13.4
86.7
+265.2%
Diluted shares, weighted
50m
52m
48m
-3.3%
Shares outstanding at period end
50m
49m
47m
+1.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,459
2,313
1,936
+6.3%
Debt
3,273
2,450
2,697
+33.6%
Other liabilities
1,760
1,370
1,152
+28.5%
Total liabilities and equity
7,492
6,133
5,785
+22.2%
Fixed assets
4,592
3,919
3,226
+17.2%
Goodwill
1,042
1,043
866
-0.0%
Intangible assets
184
202
149
-8.6%
Investments
768
294
798
+161.0%
Cash and equivalents
262
252
279
+3.8%
Receivables
185
164
139
+12.8%
Other assets
459
259
329
+77.1%
Total assets
7,492
6,133
5,785
+22.2%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.