Equinix (EQIX) FY2017 results: revenue $4.4 billion, up 20.9% on the year
Equinix Inc. (EQIX) reported revenue of $4.4 billion for fiscal 2017, the year ended 31 December 2017, up 20.9% on the year before. Net income was $233 million, up 83.7%, and diluted earnings per share $3.00. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$4.4 billion
+20.9% on the year
FY2010FY2017
Operating margin
18.5%
17.1% a year earlier
FY2010FY2017
Net income
$233 million
+83.7% on the year
FY2010FY2017
Diluted EPS
$3.00
+67.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
4,368
3,612
2,726
+20.9%
Cost of revenue
2,193
1,821
1,292
+20.4%
Gross profit
2,175
1,791
1,434
+21.4%
Gross margin
49.8%
49.6%
52.6%
Operating income
809
619
567
+30.8%
Operating margin
18.5%
17.1%
20.8%
Interest expense
479
392
299
+22.1%
Pre-tax income
287
160
211
+79.4%
Income tax
53.9
45.5
23.2
+18.5%
Effective tax rate
18.8%
28.4%
11.0%
Net income
233
127
188
+83.7%
Net margin
5.3%
3.5%
6.9%
Diluted EPS
$3.00
$1.79
$3.21
+67.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,439
1,019
895
+41.2%
Capital expenditure
1,379
1,113
868
+23.8%
Free cash flow
60.5
-94.0
26.7
Free cash flow margin
1.4%
-2.6%
1.0%
Cash from investing
-5,401
-2,046
-638
Cash from financing
4,608
-897
1,873
Depreciation and amortisation
1,042
837
526
+24.5%
Share-based compensation
176
156
132
+12.8%
Buybacks
n/a
0.0
0.0
Dividends paid
621
499
521
+24.4%
Dividend per share
$8.00
$7.00
$17.71
+14.3%
Diluted shares, weighted
78m
71m
58m
+9.5%
Shares outstanding at period end
79m
71m
62m
+10.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,850
4,366
2,745
+56.9%
Debt
8,470
5,310
5,246
+59.5%
Other liabilities
3,371
2,933
2,366
+15.0%
Total liabilities and equity
18,691
12,608
10,357
+48.2%
Fixed assets
9,395
7,199
5,606
+30.5%
Goodwill
4,412
2,986
1,063
+47.7%
Intangible assets
2,385
719
225
+231.6%
Investments
37.5
13.5
17.5
+178.9%
Trading assets
37.5
n/a
n/a
Cash and equivalents
1,413
748
2,229
+88.7%
Receivables
576
396
292
+45.4%
Other assets
436
546
924
-20.1%
Total assets
18,691
12,608
10,357
+48.2%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.