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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.15
EQIX's Cash to Debt is ranked higher than
64% of the 802 Companies
in the Global Telecom Services industry.

( Industry Median: 0.40 vs. EQIX: 0.15 )
EQIX' s 10-Year Cash to Debt Range
Min: 0.14   Max: 1.13
Current: 0.15

0.14
1.13
Equity to Asset 0.33
EQIX's Equity to Asset is ranked higher than
69% of the 794 Companies
in the Global Telecom Services industry.

( Industry Median: 0.40 vs. EQIX: 0.33 )
EQIX' s 10-Year Equity to Asset Range
Min: 0.33   Max: 0.69
Current: 0.33

0.33
0.69
Interest Coverage 1.85
EQIX's Interest Coverage is ranked higher than
61% of the 545 Companies
in the Global Telecom Services industry.

( Industry Median: 7.87 vs. EQIX: 1.85 )
EQIX' s 10-Year Interest Coverage Range
Min: 0.13   Max: 2.44
Current: 1.85

0.13
2.44
F-Score: 7
Z-Score: 1.33
M-Score: -2.63
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 21.41
EQIX's Operating margin (%) is ranked higher than
91% of the 768 Companies
in the Global Telecom Services industry.

( Industry Median: 12.93 vs. EQIX: 21.41 )
EQIX' s 10-Year Operating margin (%) Range
Min: -53464.86   Max: 21.41
Current: 21.41

-53464.86
21.41
Net-margin (%) 4.40
EQIX's Net-margin (%) is ranked higher than
73% of the 768 Companies
in the Global Telecom Services industry.

( Industry Median: 7.37 vs. EQIX: 4.40 )
EQIX' s 10-Year Net-margin (%) Range
Min: -56191.89   Max: 15.32
Current: 4.4

-56191.89
15.32
ROE (%) 3.85
EQIX's ROE (%) is ranked higher than
68% of the 743 Companies
in the Global Telecom Services industry.

( Industry Median: 12.53 vs. EQIX: 3.85 )
EQIX' s 10-Year ROE (%) Range
Min: -92.58   Max: 11.77
Current: 3.85

-92.58
11.77
ROA (%) 1.26
EQIX's ROA (%) is ranked higher than
68% of the 772 Companies
in the Global Telecom Services industry.

( Industry Median: 5.13 vs. EQIX: 1.26 )
EQIX' s 10-Year ROA (%) Range
Min: -32.76   Max: 4.43
Current: 1.26

-32.76
4.43
ROC (Joel Greenblatt) (%) 10.04
EQIX's ROC (Joel Greenblatt) (%) is ranked higher than
69% of the 764 Companies
in the Global Telecom Services industry.

( Industry Median: 22.84 vs. EQIX: 10.04 )
EQIX' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -47.74   Max: 10.04
Current: 10.04

-47.74
10.04
Revenue Growth (%) 17.20
EQIX's Revenue Growth (%) is ranked higher than
93% of the 684 Companies
in the Global Telecom Services industry.

( Industry Median: 3.30 vs. EQIX: 17.20 )
EQIX' s 10-Year Revenue Growth (%) Range
Min: -29   Max: 351.8
Current: 17.2

-29
351.8
EBITDA Growth (%) 16.40
EQIX's EBITDA Growth (%) is ranked higher than
91% of the 611 Companies
in the Global Telecom Services industry.

( Industry Median: 1.70 vs. EQIX: 16.40 )
EQIX' s 10-Year EBITDA Growth (%) Range
Min: -59.9   Max: 94.4
Current: 16.4

-59.9
94.4
EPS Growth (%) 32.60
EQIX's EPS Growth (%) is ranked higher than
93% of the 552 Companies
in the Global Telecom Services industry.

( Industry Median: 1.50 vs. EQIX: 32.60 )
EQIX' s 10-Year EPS Growth (%) Range
Min: -70.3   Max: 32.6
Current: 32.6

-70.3
32.6
» EQIX's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

EQIX Guru Trades in Q1 2013

Ray Dalio 12,180 sh (New)
Caxton Associates 214,000 sh (New)
Steven Cohen 616,700 sh (+77.36%)
RS Investment Management 33,070 sh (+23.53%)
John Paulson 2,100,000 sh (unchged)
John Griffin 1,170,000 sh (unchged)
Mariko Gordon 1,379 sh (unchged)
Columbia Wanger 264,750 sh (-16.82%)
Ron Baron 991,655 sh (-17.48%)
Steve Mandel 2,293,503 sh (-17.93%)
Daniel Loeb 425,000 sh (-19.05%)
Jim Simons 135,738 sh (-24.23%)
Andreas Halvorsen 430,741 sh (-54.03%)
» More
Q2 2013

EQIX Guru Trades in Q2 2013

Paul Tudor Jones 1,400 sh (New)
Andreas Halvorsen 838,565 sh (+94.68%)
Steven Cohen 698,534 sh (+13.27%)
Steven Cohen 150,000 sh (unchged)
Caxton Associates Sold Out
Mariko Gordon Sold Out
RS Investment Management Sold Out
Ray Dalio Sold Out
Daniel Loeb Sold Out
John Griffin 1,116,000 sh (-4.62%)
Ron Baron 905,583 sh (-8.68%)
Steve Mandel 2,087,116 sh (-9%)
Columbia Wanger 185,000 sh (-30.12%)
Jim Simons 82,638 sh (-39.12%)
John Paulson 1,000,000 sh (-52.38%)
» More
Q3 2013

EQIX Guru Trades in Q3 2013

Eric Mindich 350,000 sh (New)
Chuck Akre 122,500 sh (New)
Louis Moore Bacon 35,000 sh (New)
John Paulson 1,200,000 sh (+20%)
Steve Mandel 2,167,116 sh (+3.83%)
Columbia Wanger 185,000 sh (unchged)
John Griffin Sold Out
Paul Tudor Jones Sold Out
Jim Simons Sold Out
Ron Baron 855,350 sh (-5.55%)
Andreas Halvorsen 392,602 sh (-53.18%)
Steven Cohen 206,400 sh (-70.45%)
» More
Q4 2013

EQIX Guru Trades in Q4 2013

Caxton Associates 15,000 sh (New)
Ray Dalio 27,037 sh (New)
Jim Simons 115,829 sh (New)
Eric Mindich 726,300 sh (+107.51%)
Louis Moore Bacon 70,276 sh (+100.79%)
Chuck Akre 222,300 sh (+81.47%)
John Paulson 2,088,200 sh (+74.02%)
Columbia Wanger 185,000 sh (unchged)
Steve Mandel Sold Out
Andreas Halvorsen Sold Out
Ron Baron 694,113 sh (-18.85%)
Steven Cohen 2,206 sh (-98.93%)
» More
» Details

Insider Trades

Latest Guru Trades with EQIX

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Steve Mandel 2013-12-31 Sold Out 1.8%$155.18 - $175.92 $ 180.129%0
John Paulson 2013-12-31 Add 74.02%0.77%$155.18 - $175.92 $ 180.129%2088200
Chuck Akre 2013-12-31 Add 81.47%0.67%$155.18 - $175.92 $ 180.129%222300
Ron Baron 2013-12-31 Reduce -18.85%0.14%$155.18 - $175.92 $ 180.129%694113
Ray Dalio 2013-12-31 New Buy0.04%$155.18 - $175.92 $ 180.129%27037
John Griffin 2013-09-30 Sold Out 2.5%$165.89 - $202.98 $ 180.120%0
Chuck Akre 2013-09-30 New Buy0.96%$165.89 - $202.98 $ 180.120%122500
John Paulson 2013-09-30 Add 20%0.23%$165.89 - $202.98 $ 180.120%1200000
Daniel Loeb 2013-06-30 Sold Out 1.7%$176.13 - $229.67 $ 180.12-13%0
John Paulson 2013-06-30 Reduce -52.38%1.36%$176.13 - $229.67 $ 180.12-13%1000000
Steve Mandel 2013-06-30 Reduce -9%0.23%$176.13 - $229.67 $ 180.12-13%2087116
John Griffin 2013-06-30 Reduce -4.62%0.15%$176.13 - $229.67 $ 180.12-13%1116000
Mariko Gordon 2013-06-30 Sold Out 0.02%$176.13 - $229.67 $ 180.12-13%0
Ray Dalio 2013-06-30 Sold Out 0.02%$176.13 - $229.67 $ 180.12-13%0
Ray Dalio 2013-03-31 New Buy0.02%$206.2 - $226 $ 180.12-16%12180
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on Equinix Inc

Baron Funds Comments on Equinix Inc. - Feb 21, 2014

Following a 100 percent return in 2012, Equinix, Inc. (EQIX)'s shares were down in the fourth quarter and 2013. An uptick in supply and an increase in competition that pressured rents negatively impacted many data center companies in 2013. At its current price, we think concerns are largely discounted in the company's shares. We continue to believe Equinix will deliver strong growth in the next few years and will benefit from higher valuations derived from its planned conversion to a REIT, targeted for early 2015. We remain optimistic about the long-term prospects for the company



From Baron Funds fourth quarter 2013 shareholder letter.



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Baron Funds Comments on Equinix - Feb 20, 2014

Shares of data center operator Equinix, Inc. (EQIX) fell on concerns surrounding price deflation in the broader data center sector. In addition, the rise in interest rates muted some investor enthusiasm surrounding the company's potential conversion into a REIT structure. We believe that Equinix will continue to recognize premium pricing relative to other data center operators. This is because Equinix offers its customers the ability to inter- connect with other customers inside the Equinix facilities, allowing them all to achieve faster overall network speeds. We believe the stock is undervalued, given its growth profile, cash flow potential, and the likelihood of its eventual conversion to a REIT structure.



From Baron Funds' fourth quarter letter 2013 to shareholders.



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Baron Funds Comments on Equinix Inc. - Aug 07, 2013

Equinix, Inc. (EQIX) the provider of network neutral data centers, fell 14.6% in the quarter. Concerns arose about its conversion to a REIT and its valuation as a REIT in a higher interest rate environment. We continue to favor the company's differentiated business model and barriers to competition, and think the company can continue to grow significantly.

From Ron Baron’s second quarter 2013 commentary.


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Baron Funds Comments on Equinix Inc. - Aug 02, 2013

Equinix, Inc. (EQIX) is a leading Internet exchange service provider, serving communications, content and enterprise customers in state-of-the-art data centers. Equinix also offers interconnection services to customers seeking to connect directly with other Equinix customers. We believe that this "tethering" of customers in a network neutral environment creates important competitive barriers that distinguish Equinix from other data center business models. Last year, management indicated its intention to convert the company to a REIT. Shares were pressured this quarter, as the market grew concerned about the company's ability to make this REIT conversion. In addition, REIT shares themselves were under pressure on concerns that rising interest rates would depress their relative valuations in the stock market. We believe that Equinix remains an attractive investment, whether or not a REIT conversion eventually occurs.

From the Baron Funds’ second quarter 2013 commentary.


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Baron Funds Comments on Equinix Inc. - Dec 07, 2012

Equinix, Inc. (EQIX), the operator of network-neutral data centers, continued its strong earnings and stock performance, rising 17.3% for the quarter and 132.0% for the year. The company announced its intention to convert to a REIT, as it had been contemplating for a while. The company's cash flow will be valued at a higher multiple as a REIT, in line with other data center companies and similar businesses that have elected to convert to REIT status.

From Baron Funds third quarter letter.


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Baron Funds Comments on Equinix - Aug 23, 2012

From Baron Funds' second-quarter letter:

Shares of network-neutral data center operator Equinix, Inc. performed well during the quarter, as demand from its interconnection-focused data center customers remained strong, and the company raised its earnings guidance for the full year. In addition, management continued exploring the viability of converting to a REIT structure, which we believe continued to drive a meaningful revaluation of the shares. Compared with other REITs, we believe Equinix's shares remain notably undervalued.
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Baron Funds Comments on Equinix Inc. - May 24, 2012

Shares of Equinix, Inc. (EQIX) increased 55.3% in the quarter, as data-center business trends remained strong, and management began to explore converting the company's structure to a REIT. Comparable data-center REITs trade at dramatically higher multiples, and accordingly, investors have begun to revalue Equinix's shares to close that gap. We continue to see meaningful upside in the shares, through both further valuation expansion and continued growth. (Rich Rosenstein)
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Top Ranked Articles about Equinix Inc

Baron Funds Comments on Equinix Inc.
Following a 100 percent return in 2012, Equinix, Inc. (EQIX)'s shares were down in the fourth quarter and 2013. An uptick in supply and an increase in competition that pressured rents negatively impacted many data center companies in 2013. At its current price, we think concerns are largely discounted in the company's shares. We continue to believe Equinix will deliver strong growth in the next few years and will benefit from higher valuations derived from its planned conversion to a REIT, targeted for early 2015. We remain optimistic about the long-term prospects for the company Read more...
Baron Funds Comments on Equinix
Shares of data center operator Equinix, Inc. (EQIX) fell on concerns surrounding price deflation in the broader data center sector. In addition, the rise in interest rates muted some investor enthusiasm surrounding the company's potential conversion into a REIT structure. We believe that Equinix will continue to recognize premium pricing relative to other data center operators. This is because Equinix offers its customers the ability to inter- connect with other customers inside the Equinix facilities, allowing them all to achieve faster overall network speeds. We believe the stock is undervalued, given its growth profile, cash flow potential, and the likelihood of its eventual conversion to a REIT structure. Read more...
Highest Returning Guru - John Paulson’s 52-week Low Stocks
The current highest-returning Guru, John Paulson, founder of Paulson & Company, is averaging 12-month returns of 292.03%. His portfolio show 91 stocks, 15 of them new, and a total value of $14.17 billion. His quarter-over-quarter turnover is 21%. Read more...
Baron Funds Comments on Equinix Inc.
Equinix, Inc. (EQIX) the provider of network neutral data centers, fell 14.6% in the quarter. Concerns arose about its conversion to a REIT and its valuation as a REIT in a higher interest rate environment. We continue to favor the company's differentiated business model and barriers to competition, and think the company can continue to grow significantly. Read more...
Baron Funds Comments on Equinix Inc.
Equinix, Inc. (EQIX) is a leading Internet exchange service provider, serving communications, content and enterprise customers in state-of-the-art data centers. Equinix also offers interconnection services to customers seeking to connect directly with other Equinix customers. We believe that this "tethering" of customers in a network neutral environment creates important competitive barriers that distinguish Equinix from other data center business models. Last year, management indicated its intention to convert the company to a REIT. Shares were pressured this quarter, as the market grew concerned about the company's ability to make this REIT conversion. In addition, REIT shares themselves were under pressure on concerns that rising interest rates would depress their relative valuations in the stock market. We believe that Equinix remains an attractive investment, whether or not a REIT conversion eventually occurs. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 96.70
EQIX's P/E(ttm) is ranked lower than
54% of the 640 Companies
in the Global Telecom Services industry.

( Industry Median: 16.50 vs. EQIX: 96.70 )
EQIX' s 10-Year P/E(ttm) Range
Min: 1.56   Max: 4169.13
Current: 96.7

1.56
4169.13
P/B 3.60
EQIX's P/B is ranked higher than
57% of the 735 Companies
in the Global Telecom Services industry.

( Industry Median: 2.26 vs. EQIX: 3.60 )
EQIX' s 10-Year P/B Range
Min: 0.3   Max: 7.28
Current: 3.6

0.3
7.28
P/S 4.20
EQIX's P/S is ranked lower than
66% of the 823 Companies
in the Global Telecom Services industry.

( Industry Median: 1.47 vs. EQIX: 4.20 )
EQIX' s 10-Year P/S Range
Min: 0.44   Max: 9.93
Current: 4.2

0.44
9.93
EV-to-EBIT 27.00
EQIX's EV-to-EBIT is ranked lower than
53% of the 713 Companies
in the Global Telecom Services industry.

( Industry Median: 14.19 vs. EQIX: 27.00 )
EQIX' s 10-Year EV-to-EBIT Range
Min: 22.4   Max: 1426.1
Current: 27

22.4
1426.1
PEG 5.80
EQIX's PEG is ranked higher than
58% of the 407 Companies
in the Global Telecom Services industry.

( Industry Median: 2.51 vs. EQIX: 5.80 )
EQIX' s 10-Year PEG Range
Min: 0.34   Max: 63.12
Current: 5.8

0.34
63.12
Shiller P/E 92.10
EQIX's Shiller P/E is ranked lower than
57% of the 486 Companies
in the Global Telecom Services industry.

( Industry Median: 15.99 vs. EQIX: 92.10 )
EQIX' s 10-Year Shiller P/E Range
Min: 36.6   Max: 3117
Current: 92.1

36.6
3117

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 7.30
EQIX's Price/Tangible Book is ranked lower than
55% of the 502 Companies
in the Global Telecom Services industry.

( Industry Median: 3.30 vs. EQIX: 7.30 )
EQIX' s 10-Year Price/Tangible Book Range
Min: 0.07   Max: 12.05
Current: 7.3

0.07
12.05
Price/DCF (Projected) 49.60
EQIX's Price/DCF (Projected) is ranked lower than
54% of the 486 Companies
in the Global Telecom Services industry.

( Industry Median: 1.00 vs. EQIX: 49.60 )
EQIX' s 10-Year Price/DCF (Projected) Range
Min: 48.75   Max: 48.75
Current: 49.6

Price/Median PS Value 1.00
EQIX's Price/Median PS Value is ranked higher than
75% of the 724 Companies
in the Global Telecom Services industry.

( Industry Median: 1.00 vs. EQIX: 1.00 )
EQIX' s 10-Year Price/Median PS Value Range
Min: 0.05   Max: 3.28
Current: 1

0.05
3.28
Price/Peter Lynch Fair Value 5.00
EQIX's Price/Peter Lynch Fair Value is ranked lower than
59% of the 213 Companies
in the Global Telecom Services industry.

( Industry Median: 1.03 vs. EQIX: 5.00 )
EQIX' s 10-Year Price/Peter Lynch Fair Value Range
Min: 1   Max: 4.91
Current: 5

1
4.91
Price/Graham Number 5.50
EQIX's Price/Graham Number is ranked lower than
61% of the 425 Companies
in the Global Telecom Services industry.

( Industry Median: 1.85 vs. EQIX: 5.50 )
EQIX' s 10-Year Price/Graham Number Range
Min: 1.76   Max: 5.69
Current: 5.5

1.76
5.69
Earnings Yield (Greenblatt) 3.70
EQIX's Earnings Yield (Greenblatt) is ranked higher than
53% of the 719 Companies
in the Global Telecom Services industry.

( Industry Median: 6.90 vs. EQIX: 3.70 )
EQIX' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 4.5
Current: 3.7

0.1
4.5
Forward Rate of Return (Yacktman) 18.23
EQIX's Forward Rate of Return (Yacktman) is ranked higher than
91% of the 626 Companies
in the Global Telecom Services industry.

( Industry Median: 8.68 vs. EQIX: 18.23 )
EQIX' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -32.2   Max: 51.2
Current: 18.23

-32.2
51.2

Business Description

Industry: Communication Services » Telecom Services
Compare:CHU, VOD, T, VZ, AMOV » details
Traded in other countries:EQN1.Germany
Equinix, Inc. was incorporated in Delaware on June 1998. The Company provides global network neutral data center services and it deals with Global enterprises, content providers, financial companies and network service providers. Platform Equinix connects more than 4,000 enterprises, cloud, digital content and financial companies, including more than 690 network service providers, to help them grow their businesses, improve application performance and protect their vital digital assets. Equinix operates in 31 strategic markets across the Americas, Europe, the Middle-East and Africa ("EMEA") and Asia-Pacific and continually invests in expanding its platform to power customer growth. Platform Equinix combines state-of-the-art International Business Exchange (IBX) data centers. Together these components accelerate business growth for Equinix's customers by safeguarding their infrastructure, housing their assets and applications closer to users to improve performance and enabling them to collaborate with the widest variety of partners and customers. It offers customers direct interconnection to an aggregation of bandwidth providers, rather than focusing on selling a particular network, including the world's top carriers, Internet Service Providers (ISPs), broadband access networks (DSL / cable) and international carriers. Equinix generates revenue by selling colocation, interconnection and managed IT infrastructure services on a global platform of 99 IBX data centers. The Company uses a direct sales force and channel marketing program to market its services to global enterprises, content providers, financial companies and network service providers. Its customers include carriers, mobility and other bandwidth providers, cloud and IT services providers, content providers, financial companies and global enterprises.

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