Equinix (EQIX) FY2023 results: revenue $8.2 billion, up 12.7% on the year
Equinix Inc. (EQIX) reported revenue of $8.2 billion for fiscal 2023, the year ended 31 December 2023, up 12.7% on the year before. Net income was $969 million, up 37.6%, and diluted earnings per share $10.31. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$8.2 billion
+12.7% on the year
FY2016FY2023
Operating margin
17.6%
16.5% a year earlier
FY2016FY2023
Net income
$969 million
+37.6% on the year
FY2016FY2023
Diluted EPS
$10.31
+34.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,217
2,963
2,547
+8.6%
Capital expenditure
2,781
2,278
2,752
+22.1%
Free cash flow
436
685
-204
-36.4%
Free cash flow margin
5.3%
9.4%
-3.1%
Cash from investing
-3,224
-3,363
-3,007
Cash from financing
211
857
414
-75.4%
Depreciation and amortisation
1,845
1,736
1,656
+6.3%
Share-based compensation
408
404
364
+0.9%
Dividends paid
1,374
1,151
1,043
+19.3%
Dividend per share
$14.49
$12.40
$11.48
+16.9%
Diluted shares, weighted
94m
92m
90m
+2.4%
Shares outstanding at period end
94m
93m
91m
+2.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
12,489
11,506
10,882
+8.5%
Non-controlling interest
0.0
-0.1
-0.3
Debt
13,841
12,881
11,722
+7.5%
Operating lease liabilities
1,331
1,273
1,107
+4.6%
Finance lease liabilities
2,122
2,144
1,990
-1.0%
Other liabilities
2,867
2,508
2,218
+14.3%
Total liabilities and equity
32,651
30,311
27,919
+7.7%
Fixed assets
18,601
16,650
15,446
+11.7%
Goodwill
5,737
5,654
5,372
+1.5%
Intangible assets
1,705
1,898
1,935
-10.2%
Investments
0.0
n/a
0.0
Cash and equivalents
2,096
1,906
1,536
+9.9%
Receivables
1,004
855
682
+17.4%
Other assets
3,508
3,348
2,947
+4.8%
Total assets
32,651
30,311
27,919
+7.7%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.