Equinix (EQIX) FY2024 results: revenue $8.7 billion, up 6.8% on the year
Equinix Inc. (EQIX) reported revenue of $8.7 billion for fiscal 2024, the year ended 31 December 2024, up 6.8% on the year before. Net income was $815 million, down 15.9%, and diluted earnings per share $8.50. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2025.
Revenue
$8.7 billion
+6.8% on the year
FY2017FY2024
Operating margin
15.2%
17.6% a year earlier
FY2017FY2024
Net income
$815 million
-15.9% on the year
FY2017FY2024
Diluted EPS
$8.50
-17.6% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,249
3,217
2,963
+1.0%
Capital expenditure
3,066
2,781
2,278
+10.2%
Free cash flow
183
436
685
-58.0%
Free cash flow margin
2.1%
5.3%
9.4%
Cash from investing
-3,937
-3,224
-3,363
Cash from financing
1,723
211
857
+716.6%
Depreciation and amortisation
2,009
1,845
1,736
+8.9%
Share-based compensation
462
408
404
+13.4%
Dividends paid
1,643
1,374
1,151
+19.6%
Dividend per share
$17.04
$14.49
$12.40
+17.6%
Diluted shares, weighted
96m
94m
92m
+1.9%
Shares outstanding at period end
97m
94m
93m
+3.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
13,528
12,489
11,506
+8.3%
Non-controlling interest
-1.0
0.0
-0.1
Debt
15,334
13,841
12,881
+10.8%
Operating lease liabilities
1,331
1,331
1,273
-0.0%
Finance lease liabilities
2,086
2,122
2,144
-1.7%
Other liabilities
2,807
2,867
2,508
-2.1%
Total liabilities and equity
35,085
32,651
30,311
+7.5%
Fixed assets
19,249
18,601
16,650
+3.5%
Goodwill
5,504
5,737
5,654
-4.1%
Intangible assets
1,417
1,705
1,898
-16.9%
Investments
527
0.0
n/a
Cash and equivalents
3,081
2,096
1,906
+47.0%
Receivables
949
1,004
855
-5.5%
Other assets
4,358
3,508
3,348
+24.2%
Total assets
35,085
32,651
30,311
+7.5%
10-K for the year ended 31 December 2024, filed 12 February 2025: the filing.