Equinix (EQIX) FY2016 results: revenue $3.6 billion, up 32.5% on the year
Equinix Inc. (EQIX) reported revenue of $3.6 billion for fiscal 2016, the year ended 31 December 2016, up 32.5% on the year before. Net income was $127 million, down 32.5%, and diluted earnings per share $1.79. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$3.6 billion
+32.5% on the year
FY2009FY2016
Operating margin
17.1%
20.8% a year earlier
FY2009FY2016
Net income
$127 million
-32.5% on the year
FY2009FY2016
Diluted EPS
$1.79
-44.2% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,612
2,726
2,444
+32.5%
Cost of revenue
1,821
1,292
1,198
+41.0%
Gross profit
1,791
1,434
1,246
+24.9%
Gross margin
49.6%
52.6%
51.0%
Operating income
619
567
509
+9.1%
Operating margin
17.1%
20.8%
20.8%
Interest expense
392
299
271
+31.1%
Pre-tax income
160
211
84.7
-24.2%
Income tax
45.5
23.2
345
+95.7%
Effective tax rate
28.4%
11.0%
407.7%
Net income
127
188
-260
-32.5%
Net margin
3.5%
6.9%
-10.6%
Diluted EPS
$1.79
$3.21
-$4.96
-44.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,019
895
709
+13.9%
Capital expenditure
1,113
868
660
+28.3%
Free cash flow
-94.0
26.7
48.8
Free cash flow margin
-2.6%
1.0%
2.0%
Cash from investing
-2,046
-638
-437
Cash from financing
-897
1,873
87.8
Depreciation and amortisation
837
526
482
+59.3%
Share-based compensation
156
132
118
+17.5%
Buybacks
0.0
0.0
298
Dividends paid
499
521
83.3
-4.2%
Dividend per share
$7.00
$17.71
n/a
-60.5%
Diluted shares, weighted
71m
58m
52m
+21.1%
Shares outstanding at period end
71m
62m
56m
+15.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,366
2,745
2,270
+59.0%
Debt
5,310
5,246
3,504
+1.2%
Other liabilities
2,933
2,366
2,008
+24.0%
Total liabilities and equity
12,608
10,357
7,782
+21.7%
Fixed assets
7,199
5,606
4,998
+28.4%
Goodwill
2,986
1,063
1,002
+180.9%
Intangible assets
719
225
148
+220.3%
Investments
13.5
17.5
530
-23.0%
Cash and equivalents
748
2,229
611
-66.4%
Receivables
396
292
263
+35.7%
Other assets
546
924
231
-41.0%
Total assets
12,608
10,357
7,782
+21.7%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.