Filing Flows › Equinix (EQIX) › Q4 2025
Equinix (EQIX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 11, 2026
Equinix (EQIX) reported revenue of $2.4B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +4% from the quarter before. Operating margin was 17.4%, net earnings $264M (10.9% of revenue).
Equinix, Q4 2025: revenue $2.4B (+7% year over year), operating margin 17.4%, net earnings $264M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | +4% | +7% |
| Operating profit | $422M | -11% | +310% |
| Net earnings | $264M | -29% | — |
| Operating cash flow | $1.1B | +13% | +17% |
What changed
Revenue was $2.4B in Q4 2025, up 7% year over year and up 4% from the previous quarter. Colocation was the largest line at 71% of revenue.
Operating profit was $0.42B, a 17.4% margin (up 12.9 points year over year). Of the extra revenue versus a year earlier, 201% reached operating profit, above the 5% margin then. Total costs fell 7% while revenue rose 7%. The fastest-growing cost line was Sales & marketing (+12%). Net earnings were $0.27B. The effective tax rate was 15.4%.
Operating cash flow was $1.1B (up 17% year over year), 433% of net earnings. Non-cash charges added back $0.54B of depreciation and amortization and $0.13B of share-based compensation. Working capital and other items added $0.21B. Capital expenditures of $1.4B exceeded it, leaving free cash flow of −$0.29B.
Questions
What was Equinix's revenue in the fourth quarter 2025?
Equinix (EQIX) reported revenue of $2.4B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +4% from the quarter before.
Was Equinix profitable in the fourth quarter 2025?
Operating profit was $422M (17.4% of revenue) and net earnings $264M.
Source: Equinix 10-K on SEC EDGAR.