Equinix debt and dilution—

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$19,873M

Cash & equivalents

USD millions

$979M

Net debt

USD millions

$18,894M

Debt / equity

1.38×

Debt / assets

48.38%

Net debt / EBITDA

× · TTM

4.39×

Debt / FCF

× · TTM

—

Interest coverage

× · TTM

3.76×

Current ratio

1.13×

Diluted shares

Million shares

99.14M shares

Basic shares

Million shares

98.64M shares

Share count growth

0.82%

Share repurchases

USD millions

—

Quarterly data

Equinix capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	19,873	979	18,894	1.38×	48.38%	4.39×	—	3.76×	1.13×	99.14	98.64	0.82%	—
FY 2026 Q1	Mar 31, 2026	19,785	1,362	18,423	1.38×	48.38%	4.52×	—	3.56×	1.18×	98.73	98.39	0.9%	—
FY 2025 Q4	Dec 31, 2025	—	1,727	—	—	—	—	—	3.51×	1.32×	98.38	98.2	1.4%	—
FY 2025 Q3	Sep 30, 2025	17,328	2,077	15,251	1.22×	45.53%	4.31×	—	2.99×	1.62×	98.17	97.98	2.71%	—
FY 2025 Q2	Jun 30, 2025	18,073	3,660	14,413	1.28×	46.52%	4.18×	430.31×	2.96×	1.54×	98.05	97.84	3.07%	—
FY 2025 Q1	Mar 31, 2025	15,887	2,950	12,937	1.14×	44.03%	3.82×	45.26×	2.99×	1.65×	97.89	97.51	3.01%	—
FY 2024 Q4	Dec 31, 2024	15,334	3,081	12,253	1.13×	43.71%	3.67×	83.79×	2.91×	1.63×	97.25	96.84	2.73%	—
FY 2024 Q3	Sep 30, 2024	15,395	2,776	12,619	1.13×	43.44%	3.56×	80.18×	3.62×	1.16×	95.73	95.39	1.83%	—
FY 2024 Q2	Jun 30, 2024	14,454	1,993	12,461	1.18×	43.99%	3.59×	44.39×	3.65×	1.22×	95.17	94.92	1.48%	—
FY 2024 Q1	Mar 31, 2024	13,742	1,527	12,215	1.12×	43.03%	3.66×	83.4×	3.48×	1.1×	95.16	94.67	1.82%	—
FY 2023 Q4	Dec 31, 2023	13,840.65	2,095.71	11,744.93	1.11×	42.39%	3.57×	31.78×	3.59×	1.13×	94.66	94.26	1.84%	—
FY 2023 Q3	Sep 30, 2023	13,703.41	2,357.5	11,345.91	1.15×	43.25%	3.55×	37.56×	3.51×	2.05×	94.17	93.68	1.94%	—
FY 2023 Q2	Jun 30, 2023	13,461.49	2,342.18	11,119.31	1.12×	42.64%	3.57×	28.96×	3.48×	2.02×	93.86	93.54	2.75%	—
FY 2023 Q1	Mar 31, 2023	13,489.82	2,642.58	10,847.24	1.12×	43.13%	3.53×	19.89×	3.52×	2.28×	93.34	92.97	2.42%	—
FY 2022 Q4	Dec 31, 2022	12,880.51	1,906.42	10,974.09	1.12×	42.49%	3.74×	18.8×	3.37×	1.8×	92.74	92.56	2.57%	—
FY 2022 Q3	Sep 30, 2022	12,738.25	2,500.82	10,237.43	1.14×	43.44%	3.54×	15.39×	3.41×	2.37×	92.14	91.9	2.27%	—
FY 2022 Q2	Jun 30, 2022	12,893.58	1,891.31	11,002.27	1.21×	44.4%	3.89×	23.59×	3.39×	2.04×	91.26	91.04	1.55%	—
FY 2022 Q1	Mar 31, 2022	11,792.18	1,695.31	10,096.88	1.08×	42.08%	3.64×	86.24×	3.3×	1.91×	91.16	90.77	1.61%	—
FY 2021 Q4	Dec 31, 2021	11,722.15	1,536.36	10,185.79	1.08×	41.99%	3.68×	—	3.3×	1.84×	91.02	90.24	1.27%	—
FY 2021 Q3	Sep 30, 2021	11,751.46	1,379.1	10,372.36	1.11×	42.31%	3.85×	—	3.13×	1.63×	90.47	89.86	1.18%	—
FY 2021 Q2	Jun 30, 2021	11,808.09	1,799.73	10,008.36	1.11×	42.28%	3.79×	—	2.97×	1.87×	90.1	89.65	2.69%	—
FY 2021 Q1	Mar 31, 2021	11,252.53	1,752.99	9,499.54	1.06×	41.19%	3.68×	—	2.82×	1.55×	89.84	89.33	4.42%	—
FY 2020 Q4	Dec 31, 2020	10,633.88	1,604.87	9,029.01	1×	39.37%	3.65×	389.21×	2.59×	1.29×	89.85	89.11	4.48%	—
FY 2020 Q3	Sep 30, 2020	10,618.45	2,645.05	7,973.41	1.01×	40.17%	3.17×	—	2.63×	1.07×	89.52	88.81	4.46%	—
FY 2020 Q2	Jun 30, 2020	12,437.74	4,785.05	7,652.69	1.2×	44.75%	3.1×	—	2.51×	1.55×	87.9	87.3	3.44%	—
FY 2020 Q1	Mar 31, 2020	10,174.1	1,171.34	9,002.76	1.17×	43.13%	3.67×	—	2.46×	1.26×	86.14	85.55	4.57%	—
FY 2019 Q4	Dec 31, 2019	10,401.1	1,869.58	8,531.52	1.18×	43.4%	3.48×	—	2.44×	1.33×	86.03	85.29	5.94%	—
FY 2019 Q3	Sep 30, 2019	9,489.24	1,402.4	8,086.84	1.08×	41.54%	3.39×	—	2.29×	1.55×	85.57	85.01	6.44%	—
FY 2019 Q2	Jun 30, 2019	9,672.27	1,613.53	8,058.74	1.11×	42.26%	3.43×	—	2.2×	1.59×	84.77	84.4	6.19%	—
FY 2019 Q1	Mar 31, 2019	9,801.15	1,633.84	8,167.31	1.16×	43.58%	3.61×	—	1.99×	1.56×	82.09	81.81	3.25%	—
FY 2018 Q4	Dec 31, 2018	9,890.53	606.17	9,284.37	1.37×	48.86%	4.21×	—	1.87×	1×	80.91	80.51	2.5%	—
FY 2018 Q3	Sep 30, 2018	9,949.92	870.49	9,079.44	1.39×	49.04%	4.22×	—	1.81×	1.24×	80.28	79.87	2.33%	—
FY 2018 Q2	Jun 30, 2018	9,962.74	966.31	8,996.43	1.44×	49.64%	4.32×	—	1.76×	1.29×	79.75	79.48	2%	—
FY 2018 Q1	Mar 31, 2018	9,494.94	2,023.81	7,471.13	1.33×	47.61%	3.73×	—	1.76×	2.36×	79.65	79.24	8.89%	—
FY 2017 Q4	Dec 31, 2017	8,470.28	1,412.52	7,057.76	1.24×	45.32%	3.81×	139.99×	1.69×	1.81×	79.28	78.55	10.02%	—
FY 2017 Q3	Sep 30, 2017	8,449.34	1,599.99	6,849.35	1.29×	46.15%	3.98×	—	1.69×	2.11×	78.72	78.06	9.64%	—
FY 2017 Q2	Jun 30, 2017	7,728.06	1,063.78	6,664.29	1.18×	44.23%	4.16×	—	1.68×	1.69×	78.51	77.92	11.75%	—
FY 2017 Q1	Mar 31, 2017	7,648.81	4,923.26	2,725.55	1.17×	44.51%	1.78×	—	1.67×	5.46×	73.37	72.77	6.81%	—
FY 2016 Q4	Dec 31, 2016	5,309.83	748.48	4,561.35	1.22×	42.11%	3.13×	—	1.58×	1.43×	72.09	71.39	18.1%	—
FY 2016 Q3	Sep 30, 2016	5,441.42	987.92	4,453.5	1.18×	41.55%	3.32×	—	1.53×	1.11×	71.91	71.19	24.72%	—
FY 2016 Q2	Jun 30, 2016	5,450.64	483.16	4,967.48	1.16×	41.08%	4.04×	—	1.52×	1.34×	70.36	69.73	22.47%	—
FY 2016 Q1	Mar 31, 2016	5,642.85	633.76	5,009.09	1.17×	41.81%	4.42×	—	1.6×	1.37×	68.13	68.13	20.24%	—
FY 2015 Q4	Dec 31, 2015	5,245.77	2,228.84	3,016.93	1.91×	50.65%	2.76×	196.67×	1.9×	1.97×	61.34	60.45	9.32%	—
FY 2015 Q3	Sep 30, 2015	3,449.85	335.47	3,114.38	2.32×	44.77%	2.9×	—	1.92×	0.85×	57.71	57.08	7.42%	—
FY 2015 Q2	Jun 30, 2015	3,474.95	336.13	3,138.82	1.58×	44.4%	2.98×	—	1.99×	1.63×	57.5	56.94	10.92%	—
FY 2015 Q1	Mar 31, 2015	3,476.76	536.71	2,940.05	1.61×	44.99%	2.86×	—	1.99×	2.16×	57.23	56.66	14.24%	—
FY 2014 Q4	Dec 31, 2014	3,503.64	610.92	2,892.72	1.54×	44.82%	2.92×	281.96×	1.88×	2.32×	46	55.3	11.1%	0
FY 2014 Q3	Sep 30, 2014	2,805.07	354.18	2,450.89	1.08×	37.59%	2.55×	4.66×	1.91×	1.28×	55.24	53.14	7.23%	42.58
FY 2014 Q2	Jun 30, 2014	2,817.33	408.33	2,409	1.05×	36.88%	2.58×	4.88×	1.85×	1.69×	51.65	51.33	3.96%	208.26
FY 2014 Q1	Mar 31, 2014	—	495.17	—	—	—	—	—	1.84×	1.82×	53.39	49.6	1.16%	47.12
FY 2013 Q4	Dec 31, 2013	3,272.92	261.89	3,011.02	1.33×	43.68%	3.37×	6.17×	1.85×	1.63×	50.31	49.77	2.26%	—
FY 2013 Q3	Sep 30, 2013	3,167.19	399.74	2,767.44	1.29×	42.86%	3.19×	14.79×	1.87×	1.73×	53.58	49.56	2.47%	—
FY 2013 Q2	Jun 30, 2013	3,171.54	517.5	2,654.05	1.37×	44.81%	3.15×	21.04×	1.89×	1.81×	49.38	49.38	2.84%	—
FY 2013 Q1	Mar 31, 2013	3,939.39	685.02	3,254.37	1.68×	51.75%	3.97×	14.48×	1.97×	1.58×	53.48	49.03	4.42%	—
FY 2012 Q4	Dec 31, 2012	2,449.69	252.21	2,197.48	1.05×	39.94%	2.78×	4.03×	2×	1.19×	52.09	48.67	3.04%	0
FY 2012 Q3	Sep 30, 2012	2,453.81	239.69	2,214.12	1.1×	40.96%	2.88×	46.84×	1.87×	1.18×	52.66	48.36	2.46%	0
FY 2012 Q2	Jun 30, 2012	2,415.87	654.1	1,761.78	1.17×	42.2%	2.39×	13.99×	1.77×	2.06×	52.35	48.02	2.33%	0
FY 2012 Q1	Mar 31, 2012	2,667.58	632.94	2,034.63	1.29×	45.33%	2.91×	—	1.71×	1.63×	51.06	46.96	1.09%	13.36
FY 2011 Q4	Dec 31, 2011	2,697.32	278.82	2,418.5	1.38×	46.62%	3.69×	4.82×	1.69×	1.7×	48.5	47.24	2.56%	—
FY 2011 Q3	Sep 30, 2011	2,671.33	370.52	2,300.81	1.32×	46.61%	3.84×	5.96×	1.69×	2.03×	47.94	47.2	3.19%	—
FY 2011 Q2	Jun 30, 2011	1,911.13	297.87	1,613.25	0.93×	38.46%	2.9×	4.69×	1.66×	1.05×	50.66	46.92	7.85%	—
FY 2011 Q1	Mar 31, 2011	—	304.47	—	—	—	—	—	1.43×	2.02×	47.22	46.45	—	—
FY 2010 Q4	Dec 31, 2010	—	442.84	—	—	—	—	—	1.39×	2.45×	46.97	46.06	—	—
FY 2010 Q3	Sep 30, 2010	—	389.15	—	—	—	—	—	—	2.87×	46.74	45.75	—	—
FY 2010 Q2	Jun 30, 2010	—	511.34	—	—	—	—	—	—	2.97×	43.51	43.51	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · EQIX, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.