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Equinix, Inc (EQIX) Fair Value & Analysis

Real Estate · US · Market cap $99.5B

EI Equinix, Inc logo Equinix, Inc EQIX · US
Price$1,053
Fair Value$232.70
Upside-77.9%
Quality57/100
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Expensive Growth
Solidly profitable · 14.9% net margin
Moderate debt · negative free cash flow
1.88% dividend yield
Trails peers (3/14)
Wide moat 66/100
Evidence: High Range $174.53 – $290.88 Share as image

Fair value as of: Jul 17, 2026

From 16 valuation models · updated 21 days ago

Share price +2.9% over the past month.

A solid business, but screening 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($290.88). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

$1,116 $467.58 Fair Value $232.70 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $467.58 – $1,116 · fair‑value band $174.53 – $290.88 · the $1,053 price screens above the $232.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

Equinix, Inc (EQIX) currently trades at $1,053, while our model-based Fair Value estimate is $232.70, implying the stock looks roughly 77.9% overvalued today. We read business quality at 57/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Equinix, Inc generated revenue of $9.5B at a net margin of 14.9%. Revenue grew 12.1% year over year. It earns a return on equity of 10.1%. Net debt stands at $21.0B. Fundamentals as of Jul 17, 2026

Our scenario range runs from $174.53 (bear case) to $290.88 (bull case); at $1,053, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 52% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -50% fair-value upside, at -78%, EQIX screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income $125.73 $138.24 $188.32 76
ROIC Compounder $26.47 $49.90 72
Gordon GGM $172.79 $359.27 $569.94 70
All 16 models by family
Earnings-Based
Graham-Dodd $93.08 $649.13 $910.96 54
Lynch FV $335.36 $479.09 $622.82 50
PEG = 1.0 $335.36 $479.09 $622.82 46
EPV $26.47 $49.90 59
Dividend Discount
Gordon GGM $172.79 $359.27 $569.94 70
DDM Multi-Stage $172.79 $302.95 $377.06 61
Multiples
P/E Multiple $205.32 $273.77 $342.21 63
P/S Multiple $174.53 $232.70 $290.88 58
P/B Multiple $174.53 $232.70 $290.88 55
EV/EBIT $92.06 $176.38 $260.70 53
EV/EBITDA $226.03 $355.01 $483.99 54
EV/Revenue $3.41 $73.83 $144.24 43
Asset-Based
NCAV (Graham) $71.77 $96.17 $143.53 50
Economic Profit
Residual Income $125.73 $138.24 $188.32 76
ROIC Compounder $26.47 $49.90 72
Growth Earnings
Growth-Adj P/E $432.14 $617.34 $802.55 68

Widest divergence: Growth Earnings ($617.34) versus Economic Profit ($26.47). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) $9.5B
Revenue growth (YoY) +12.1%
Net margin 14.9%
Return on equity 10.1%
Free cash flow −$400M FY2025
P/E ratio 70.0
More key figures
Operating margin 24.3%
EPS (TTM) $14.42
Dividend yield 1.9%
EPS growth (YoY) +20.0%
Net debt $21.0B FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 45 · Market factors (momentum, volatility) 71

Profitability 34
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 66
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Equinix, Inc. shortens the path to boundless connectivity anywhere in the world. Its digital infrastructure, data center footprint and interconnected ecosystems empower innovations that enhance our work, life and planet.

Full company description

Equinix, Inc. shortens the path to boundless connectivity anywhere in the world. Its digital infrastructure, data center footprint and interconnected ecosystems empower innovations that enhance our work, life and planet. Equinix connects economies, countries, organizations and communities, delivering seamless digital experiences and cutting-edge AI quickly, efficiently and everywhere. Equinix, Inc. was established on June 22, 1998 and is based in Redwood City, United States.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Equinix, Inc reported revenue of $9.3B in FY2025 versus $6.6B in FY2021, a compound +8.7%/yr. Reported net income was $1.4B in FY2025, compounding +28.2%/yr from FY2021.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$9.3B
Latest YoY
+5.9%
Avg. growth/yr (3Y)
+8.4%
Avg. growth/yr (5Y)
+9.1%
Avg. growth/yr (26Y)
+61.3%
Revenue +8.7%/yr
FY21 $6.6B
FY22 $7.3B
FY23 $8.2B
FY24 $8.7B
FY25 $9.3B
Net income +28.2%/yr
FY21 $500M
FY22 $704M
FY23 $969M
FY24 $815M
FY25 $1.4B

EQIX screens 78% overvalued. Compare with American Tower Corporation →

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Cite: Fair Value Calculator (2026). "Equinix, Inc Fair Value". https://www.fairvalue-calculator.com/stock/EQIX

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

REIT - Specialty · 34 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside −78% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 4% · Below median
Net margin (TTM) 15% · Bottom 25%
Operating margin (TTM) 24% · Bottom 25%
Revenue growth 12% · Top 25%
Dividend yield (TTM) 1.9% · Bottom 25%
Debt / equity 1.24× · Higher than 75% of peers

Valuation Multiples vs REIT - Specialty median · lower = cheaper

P/E (TTM) 70.0× · Pricier than 75% of peers
P/B 7.03× · Pricier than 75% of peers
P/S (TTM) 10.45× · Pricier than 75% of peers
EV/EBITDA 27.0× · Pricier than 75% of peers
PEG 3.35× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 2
FUTURE 61 · sector 25
PAST 40 · sector 28
HEALTH 38 · sector 76
DIVIDEND 38 · sector 99

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more REIT - Specialty stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
American Tower Corporation AMT $164.65 $92.31 -44%
Digital Realty Trust, Inc DLR $199.08 $63.31 -68%
Iron Mountain Incorporated IRM $128.31 $40.43 -68%
Crown Castle Inc CCI $74.90 $37.67 -50%
SBA Communications Corporation SBAC $173.57 $143.83 -17%
Weyerhaeuser Company WY $23.94 $8.62 -64%
Lamar Advertising Company LAMR $159.46 $102.70 -36%
Gaming and Leisure Properties, Inc GLPI $45.17 $36.60 -19%
Rayonier Inc RYN $21.58 $9.96 -54%
OUTFRONT Media Inc OUT $32.03 $12.00 -63%

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Frequently asked questions

Is Equinix, Inc (EQIX) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $232.70 versus a price of $1,053, about −78% (overvalued).
What is the fair value of EQIX?
Our model-based fair value for Equinix, Inc is $232.70 (as of Jul 17, 2026), built from audited fundamentals. The current price is $1,053.
What is the quality score of EQIX?
Equinix, Inc has a Quality Score of 57/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Equinix, Inc (EQIX)?
Equinix, Inc reported trailing-twelve-month revenue of about $9.5B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of EQIX?
The net profit margin of Equinix, Inc is about 14.9%, meaning it keeps roughly 14.9% of revenue as net income. Based on the latest reported figures.
Does Equinix, Inc pay a dividend?
Equinix, Inc currently shows a dividend yield of about 1.79% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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