📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

Shareholding

About

Equinix, Inc. shortens the path to boundless connectivity anywhere in the world.

Key Ratios Snapshot

📊 Sector Averages

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding EQIX

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	534.8K	$524.2M	0.67%	Mar 2026
Jim Simons Renaissance Technologies LLC	600	$588K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 4 quarters analysed

Q2 2025

Mixed

'proud of the team', 'pressing our advantage', and 'build bolder' to convey certainty. Specific metrics (revenues $2.26B, EBITDA margin 50%, AFFO +11%) were cited repeatedly without hedging.

Q3 2025

Mixed

'record annualized gross bookings', 'raising our adjusted EBITDA, AFFO, and AFFO per share guidance', and 'meaningful 25% increase year-over-year', indicating high confidence with specific quantitative backing.

Q4 2025

Mixed

'bookings accelerated dramatically', 'best quarter ever', and provides specific growth figures (10% MRR growth, 27% bookings growth) alongside forward guidance ahead of prior expectations.

Q1 2026 latest

Mixed

'double-digit growth', 'largest total sales activity in history', 'raised guidance', 'firm pricing', and provided specific numbers (e.g., 10% recurring revenue growth, 35% sales activity increase, 51% EBITDA margin). They expressed confidence in capturing the AI inference opportunity with concrete customer examples and metrics.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Management delivered record sales activity, raised guidance across revenue, EBITDA, and AFFO, and provided concrete evidence of AI inference adoption among major providers. The shift from training to inference and agentic AI workloads aligns with Equinix's edge and interconnection strengths. However, investors should watch for the timing of the xScale Hampton lease signing (shifted to Q2) and whether churn stabilizes at 2-2.5% as guided. Also monitor energy cost hedging impacts and the conversion of the record backlog into revenue. The atnNorth acquisition adds growth optionality in a sustainable market. Overall, the call reinforces Equinix's positioning as a neutral platform for AI workloads, supporting a positive outlook.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →

Good quarter Investor Presentation One-Pager? Q1 2026

Revenue

$2.444B

+10% YoY

Operating Income

$577M

+26% YoY

Net Income

$415M

+21% YoY

What Went Right

Record total sales activity up 35% YoY, with annualized bookings of $378M and $140M in pre-selling.
Adjusted EBITDA margin improved to 51%, up 300 bps YoY and 190 bps QoQ.
AFFO surpassed $1B for the first time, reaching $1.065B, up 11% on a normalized basis.

What to Watch

xScale Hampton lease signing shifted from Q1 to Q2 due to expanded terms; Q1 results had to be adjusted for this timing.
Churn at 1.7% was below the 2-2.5% guidance range, partly from delayed churn; management expects it to revert.
Middle East conflict caused limited operational impact on one Dubai project, but facilities remained operational.

Management Guidance

Q2 2026 revenue guidance: $2.571B to $2.611B.
Q2 2026 Adjusted EBITDA guidance: $1.349B to $1.389B.
Full-year 2026 revenue raised to $10.144B-$10.244B; AFFO raised to $4.198B-$4.278B; Adjusted EBITDA margin ~51%.

Investor Lens

The thesis is stronger after this call. Equinix delivered double-digit recurring revenue growth and record sales activity, driven by broad AI demand and enterprise adoption. The raised full-year guidance reflects confidence, though the delay in the xScale Hampton lease caused a one-quarter timing shift. Management's disciplined execution and margin expansion support a positive outlook.

From investor presentation · AI-generated analysis · Not investment advice

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📈 STRONG Strong Q1 with record sales and margin expansion

Revenue

Total revenue was $2.444B, up 10% YoY on an as-reported basis, with recurring revenue up 10% on a normalized and constant currency basis. The growth was broad-based across segments and geographies.

Profitability

Operating income increased 26% YoY to $577M, while net income rose 21% to $415M. AFFO per share grew 10% on a normalized basis to $10.79.

Margins

Adjusted EBITDA margin reached 51%, a 300 bps improvement YoY and 190 bps sequentially, driven by operating leverage and cost discipline. The company expects full-year margins at approximately 51%.

Balance Sheet

Cash and short-term investments stood at $3.1B. Net leverage was 3.8x annualized EBITDA. During Q1, the company issued $1.5B in senior notes at an effective rate of 3.1%. Total CapEx was $1.3B, with ~90% for growth capacity.

Key Risks

Energy price volatility is hedged at >90% for 2026, limiting near-term impact. Middle East operations had limited disruption on one project. Churn may revert to the 2-2.5% range later in the year.

Outlook

For Q2 2026, revenue is guided at $2.571B-$2.611B. Full-year revenue guidance was raised to $10.144B-$10.244B, with AFFO growth of 10-12% on a normalized basis.

Generated by AI · Q1 2026 results · Not investment advice

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