On 12 Nov 2026 our base value for Equinix is $936.53 a share, 12.7% below its $1,072.77 close; 0 of 1 valuation methods put it above the price.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Exit multiple (P/E) | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Sum of the parts | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to sales | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Tangible book | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to FFO (REITs) | $936.53 | -12.7% | funds from operations $34.79 a share (FY2025) at its own 5-year median of 26.9× (today 30.8×) |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
| Fiscal year | Net income | Depreciation | FFO | Shares | FFO per share | Year-end close | P/FFO |
|---|---|---|---|---|---|---|---|
| 2021 | $499.73m | $1.66bn | $2.16bn | 90.41m | $23.89 | $845.84 | 35.4× |
| 2022 | $704.58m | $1.74bn | $2.44bn | 91.83m | $26.61 | $655.03 | 24.6× |
| 2023 | $969.18m | $1.84bn | $2.81bn | 94.01m | $29.92 | $805.39 | 26.9× |
| 2024 | $814.00m | $2.01bn | $2.82bn | 97.29m | $29.02 | $942.89 | 32.5× |
| 2025 | $1.35bn | $2.07bn | $3.41bn | 98.12m | $34.79 | $766.16 | 22.0× |
| Median P/FFO | 26.9× |
| Latest FFO per share (FY2025) | $34.79 |
| Value per share = median × latest FFO per share | $936.53 |
For a REIT the base value is the price-to-FFO value: $936.53 a share.
Bear $856.32 · Base $936.53 · Bull $1,130.57 (the REIT's own lower and upper quartile price-to-FFO)
One-year price simulation: a 57% chance the price is higher than today's $1,072.77 in a year, from 29.7% volatility. The simulation assumes the price drifts up at our discount rate of 9.45% a year.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $1,025.72 | $936.53 |
| 9 Oct 2026 | $1,026.06 | $936.53 |
| 16 Oct 2026 | $985.98 | $936.53 |
| 23 Oct 2026 | $955.03 | $936.53 |
| 30 Oct 2026 | $1,013.70 | $936.53 |
| 6 Nov 2026 | $1,012.71 | $936.53 |
| 12 Nov 2026 | $1,072.77 | $936.53 |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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