Equinix (EQIX) FY2019 results: revenue $5.6 billion, up 9.7% on the year
Equinix Inc. (EQIX) reported revenue of $5.6 billion for fiscal 2019, the year ended 31 December 2019, up 9.7% on the year before. Net income was $507 million, up 38.9%, and diluted earnings per share $5.99. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$5.6 billion
+9.7% on the year
FY2012FY2019
Operating margin
21.0%
19.3% a year earlier
FY2012FY2019
Net income
$507 million
+38.9% on the year
FY2012FY2019
Diluted EPS
$5.99
+31.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,562
5,072
4,368
+9.7%
Cost of revenue
2,810
2,605
2,193
+7.9%
Gross profit
2,752
2,466
2,175
+11.6%
Gross margin
49.5%
48.6%
49.8%
Operating income
1,170
977
809
+19.7%
Operating margin
21.0%
19.3%
18.5%
Interest expense
480
521
479
-8.0%
Pre-tax income
693
433
287
+59.9%
Income tax
185
67.7
53.9
+173.9%
Effective tax rate
26.8%
15.6%
18.8%
Net income
507
365
233
+38.9%
Net margin
9.1%
7.2%
5.3%
Diluted EPS
$5.99
$4.56
$3.00
+31.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,993
1,815
1,439
+9.8%
Capital expenditure
2,080
2,096
1,379
-0.8%
Free cash flow
-86.8
-281
60.5
Free cash flow margin
-1.6%
-5.5%
1.4%
Cash from investing
-1,945
-3,076
-5,401
Cash from financing
1,202
471
4,608
+155.3%
Depreciation and amortisation
1,285
1,227
1,042
+4.7%
Share-based compensation
237
181
176
+30.9%
Dividends paid
836
739
621
+13.2%
Dividend per share
$9.84
$9.12
$8.00
+7.9%
Diluted shares, weighted
85m
80m
78m
+5.6%
Shares outstanding at period end
85m
81m
79m
+5.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
8,841
7,219
6,850
+22.5%
Non-controlling interest
-0.2
0.0
n/a
Debt
10,401
9,891
8,470
+5.2%
Operating lease liabilities
1,316
0.0
n/a
Finance lease liabilities
1,431
0.0
n/a
Other liabilities
1,978
3,135
3,371
-36.9%
Total liabilities and equity
23,966
20,245
18,691
+18.4%
Fixed assets
12,153
11,026
9,395
+10.2%
Goodwill
4,782
4,836
4,412
-1.1%
Intangible assets
2,102
2,333
2,385
-9.9%
Investments
10.4
4.5
37.5
+128.2%
Trading assets
n/a
4.5
37.5
Cash and equivalents
1,870
606
1,413
+208.4%
Receivables
689
630
576
+9.4%
Other assets
2,360
804
436
+193.7%
Total assets
23,966
20,245
18,691
+18.4%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.