Equinix (EQIX) FY2020 results: revenue $6.0 billion, up 7.8% on the year
Equinix Inc. (EQIX) reported revenue of $6.0 billion for fiscal 2020, the year ended 31 December 2020, up 7.8% on the year before. Net income was $370 million, down 27.1%, and diluted earnings per share $4.18. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$6.0 billion
+7.8% on the year
FY2013FY2020
Operating margin
17.6%
21.0% a year earlier
FY2013FY2020
Net income
$370 million
-27.1% on the year
FY2013FY2020
Diluted EPS
$4.18
-30.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,999
5,562
5,072
+7.8%
Cost of revenue
3,074
2,810
2,605
+9.4%
Gross profit
2,924
2,752
2,466
+6.3%
Gross margin
48.7%
49.5%
48.6%
Operating income
1,053
1,170
977
-10.0%
Operating margin
17.6%
21.0%
19.3%
Interest expense
406
480
521
-15.3%
Pre-tax income
516
693
433
-25.5%
Income tax
146
185
67.7
-21.1%
Effective tax rate
28.3%
26.8%
15.6%
Net income
370
507
365
-27.1%
Net margin
6.2%
9.1%
7.2%
Diluted EPS
$4.18
$5.99
$4.56
-30.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,310
1,993
1,815
+15.9%
Capital expenditure
2,283
2,080
2,096
+9.8%
Free cash flow
27.3
-86.8
-281
Free cash flow margin
0.5%
-1.6%
-5.5%
Cash from investing
-3,427
-1,945
-3,076
Cash from financing
816
1,202
471
-32.2%
Depreciation and amortisation
1,423
1,285
1,227
+10.8%
Share-based compensation
295
237
181
+24.7%
Dividends paid
948
836
739
+13.4%
Dividend per share
$10.64
$9.84
$9.12
+8.1%
Diluted shares, weighted
88m
85m
80m
+4.4%
Shares outstanding at period end
89m
85m
81m
+4.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
10,634
8,841
7,219
+20.3%
Non-controlling interest
0.1
-0.2
0.0
Debt
10,634
10,401
9,891
+2.2%
Operating lease liabilities
1,309
1,316
0.0
-0.5%
Finance lease liabilities
1,785
1,431
0.0
+24.7%
Other liabilities
2,645
1,978
3,135
+33.8%
Total liabilities and equity
27,007
23,966
20,245
+12.7%
Fixed assets
14,503
12,153
11,026
+19.3%
Goodwill
5,473
4,782
4,836
+14.4%
Intangible assets
2,171
2,102
2,333
+3.3%
Investments
4.5
10.4
4.5
-56.3%
Trading assets
n/a
n/a
4.5
Cash and equivalents
1,605
1,870
606
-14.2%
Receivables
677
689
630
-1.8%
Other assets
2,574
2,360
804
+9.1%
Total assets
27,007
23,966
20,245
+12.7%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.