Equinix (EQIX) FCF Margin (2009 - 2026)
Equinix's FCF Margin came in at -12.64% for Q3 2026, up 5.23 percentage points from -17.88% a year earlier and up 10.67 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 Sep 30, 2026, Equinix reported FCF Margin of -24.79%, down 18.66 percentage points year-over-year; for FY2025, it was -15.12%, down 13.36 percentage points from FY2024.
- FCF Margin has declined in each of the last three years, with a five-year change of -12.24 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was -1.76% in FY2024 (-2.40 pp), 0.64% in FY2023 (-5.38 pp), 6.02% in FY2022 (+12.14 pp) and -6.12% in FY2021 (-3.24 pp).
- The Q3 2026 figure represents the highest quarterly FCF Margin since Q2 2025.
- Year-over-year, FCF Margin increased in three of the last eight quarters, with an average year-over-year change of -10.59 percentage points.
- The fastest year-over-year change in FCF Margin over five years came in Q1 2022 (a gain of 23.71 percentage points), and the weakest in Q4 2025 (a drop of 34.51 percentage points).
- Business Quant data shows EQIX's FCF Margin at -23.31% (Q2 2026), -27.09% (Q1 2026) and -36.98% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 4,023.81 Bn | 3,959.30 Bn | 62.56 Bn | 20.19% |
| 2 | International Business Machines | 229.57 Bn | 184.18 Bn | 9.71 Bn | 21.59% |
| 3 | Cloudflare | 108.56 Bn | 91.00 Bn | 557.23 Mn | 11.96% |
| 4 | Equinix | 104.79 Bn | 92.69 Bn | 1.31 Bn | -12.64% |
| 5 | Nebius | 34.62 Bn | 23.47 Bn | - | - |
| 6 | CoreWeave | 27.89 Bn | 14.98 Bn | 1.70 Bn | -223.03% |
| 7 | Verisign | 27.57 Bn | 24.93 Bn | 393.20 Mn | 58.85% |
| 8 | Nutanix | 16.13 Bn | 7.81 Bn | 651.35 Mn | 36.66% |
| 9 | GoDaddy | 14.07 Bn | 9.45 Bn | 843.00 Mn | 35.46% |
| 10 | Akamai Technologies | 11.83 Bn | 5.24 Bn | 613.75 Mn | 16.49% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -12.64% |
| 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% |
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();