Company / Operating Margin
Equinix Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
20.1%
FY2025
5-year range
15.2% / 20.1%
FY2021-FY2025
Trend
+32.1%
vs FY2024
Sector context
#39 of 70
Real Estate
What the data says
At 20.1%, Equinix's operating margin ranks #39 of 70 in the Real Estate sector. Operating Margin has fluctuated over the past 10 years, ranging from 15.2% in FY2024 to 21.0% in FY2019.
Based on SEC 10-K filings.
20.1% in FY2025 with a 5-year CAGR of +2.5%.
Improved from 17.6% to 20.1% over the past 2 years.
Real Estate sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +3.5pp
- 5-Year Change
- +2.5pp
- 10-Year Change
- -
Sector benchmark
#39 of 70 in Real EstateTop 56% of 70This company 20.1% Sector average 27.4%
▼
-26.9% below sector average
Key checks
Key Insights
- In FY2025, operating margin increased 32.1% year-over-year.
- Currently 7.4pp below the Real Estate sector average.
- Peak operating margin was recorded in FY2019.
- Lowest operating margin in the period was in FY2024.
Company context
Key Data Points
- Altman Z-Score 0.75 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 20.1% | +32.1% |
| FY2024 | 15.2% | -13.8% |
| FY2023 | 17.6% | +6.7% |
| FY2022 | 16.5% | -1.1% |
| FY2021 | 16.7% | -4.8% |
| FY2020 | 17.5% | -16.5% |
| FY2019 | 21.0% | +9.1% |
| FY2018 | 19.3% | +4.0% |
| FY2017 | 18.5% | +8.1% |
| FY2016 | 17.1% | -17.7% |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026