Equinix (EQIX) FY2018 results: revenue $5.1 billion, up 16.1% on the year
Equinix Inc. (EQIX) reported revenue of $5.1 billion for fiscal 2018, the year ended 31 December 2018, up 16.1% on the year before. Net income was $365 million, up 56.8%, and diluted earnings per share $4.56. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$5.1 billion
+16.1% on the year
FY2011FY2018
Operating margin
19.3%
18.5% a year earlier
FY2011FY2018
Net income
$365 million
+56.8% on the year
FY2011FY2018
Diluted EPS
$4.56
+52.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
5,072
4,368
3,612
+16.1%
Cost of revenue
2,605
2,193
1,821
+18.8%
Gross profit
2,466
2,175
1,791
+13.4%
Gross margin
48.6%
49.8%
49.6%
Operating income
977
809
619
+20.8%
Operating margin
19.3%
18.5%
17.1%
Interest expense
521
479
392
+8.9%
Pre-tax income
433
287
160
+51.0%
Income tax
67.7
53.9
45.5
+25.7%
Effective tax rate
15.6%
18.8%
28.4%
Net income
365
233
127
+56.8%
Net margin
7.2%
5.3%
3.5%
Diluted EPS
$4.56
$3.00
$1.79
+52.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,815
1,439
1,019
+26.1%
Capital expenditure
2,096
1,379
1,113
+52.0%
Free cash flow
-281
60.5
-94.0
Free cash flow margin
-5.5%
1.4%
-2.6%
Cash from investing
-3,076
-5,401
-2,046
Cash from financing
471
4,608
-897
-89.8%
Depreciation and amortisation
1,227
1,042
837
+17.7%
Share-based compensation
181
176
156
+3.0%
Buybacks
n/a
n/a
0.0
Dividends paid
739
621
499
+18.8%
Dividend per share
$9.12
$8.00
$7.00
+14.0%
Diluted shares, weighted
80m
78m
71m
+3.4%
Shares outstanding at period end
81m
79m
71m
+2.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
7,219
6,850
4,366
+5.4%
Non-controlling interest
0.0
n/a
n/a
Debt
9,891
8,470
5,310
+16.8%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
3,135
3,371
2,933
-7.0%
Total liabilities and equity
20,245
18,691
12,608
+8.3%
Fixed assets
11,026
9,395
7,199
+17.4%
Goodwill
4,836
4,412
2,986
+9.6%
Intangible assets
2,333
2,385
719
-2.2%
Investments
4.5
37.5
13.5
-87.9%
Trading assets
4.5
37.5
n/a
-87.9%
Cash and equivalents
606
1,413
748
-57.1%
Receivables
630
576
396
+9.3%
Other assets
804
436
546
+84.2%
Total assets
20,245
18,691
12,608
+8.3%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.