Equinix (EQIX) FCF Margin (2009 - 2026)
Equinix's FCF Margin came in at -19.47% for Q2 2026, down 17.47 percentage points from -1.99% a year earlier but up 2.59 percentage points from the prior quarter.
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Analysis
Equinix (EQIX) FCF Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Equinix reported FCF Margin of -14.93%, down 15.40 percentage points year-over-year; for FY2025, it was -4.34%, down 6.43 percentage points from FY2024.
- FCF Margin has declined in each of the last three years, with a five-year change of -4.80 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was 2.09% in FY2024 (-3.23 pp), 5.32% in FY2023 (-4.11 pp), 9.43% in FY2022 (+12.51 pp) and -3.08% in FY2021 (-3.53 pp).
- The five-year range for quarterly FCF Margin is -22.05% (Q1 2026) to 17.43% (Q2 2022).
- Year-over-year, FCF Margin has declined for five consecutive quarters, with an average year-over-year change of -9.28 percentage points over the last eight quarters.
- The fastest year-over-year change in FCF Margin over five years came in Q2 2022 (a gain of 23.04 percentage points), and the weakest in Q1 2026 (a drop of 24.71 percentage points).
- Business Quant data shows EQIX's FCF Margin at -22.05% (Q1 2026), -12.07% (Q4 2025) and -5.27% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,949.85 Bn | 3,873.01 Bn | 60.48 Bn | 21.82% |
| 2 | International Business Machines | 228.00 Bn | 178.81 Bn | 9.91 Bn | 13.80% |
| 3 | Cloudflare | 103.51 Bn | 87.04 Bn | 499.52 Mn | 9.71% |
| 4 | Equinix | 97.35 Bn | 85.92 Bn | 1.40 Bn | -23.31% |
| 5 | Nebius | 41.52 Bn | 14.95 Bn | 448.70 Mn | 1,357.29% |
| 6 | CoreWeave | 34.23 Bn | 21.32 Bn | 1.70 Bn | -223.03% |
| 7 | Verisign | 27.83 Bn | 25.04 Bn | 384.60 Mn | 48.96% |
| 8 | Nutanix | 18.34 Bn | 10.03 Bn | 651.35 Mn | 36.66% |
| 9 | GoDaddy | 14.21 Bn | 9.79 Bn | 828.20 Mn | 33.70% |
| 10 | Akamai Technologies | 12.93 Bn | 6.34 Bn | 613.75 Mn | 16.49% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -23.31% |
| Mar 31, 2026 | -27.09% |
| Dec 31, 2025 | -36.98% |
| Sep 30, 2025 | -17.88% |
| Jun 30, 2025 | -5.63% |
| Mar 31, 2025 | 1.89% |
| Dec 31, 2024 | -2.48% |
| Sep 30, 2024 | -5.82% |
| Jun 30, 2024 | 7.23% |
| Mar 31, 2024 | -5.92% |
| Dec 31, 2023 | -10.81% |
| Sep 30, 2023 | 2.67% |
| Jun 30, 2023 | 5.10% |
| Mar 31, 2023 | 5.48% |
| Dec 31, 2022 | -14.75% |
| Sep 30, 2022 | 14.18% |
| Jun 30, 2022 | 15.77% |
| Mar 31, 2022 | 9.54% |
| Dec 31, 2021 | 3.97% |
| Sep 30, 2021 | -7.21% |
API Access
Equinix FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=EQIX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "EQIX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=EQIX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();