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Equinix vs Prologis: EQIX and PLD compared
Equinix is the larger company: $2.6B of revenue in its latest quarter (Q3 2026) against $2.3B for Prologis (Q1 2026). Equinix is growing faster (+11% against +7% a year earlier). Prologis is more profitable, with an operating margin of 52.7% against 23.3%.
Where the money goes: EQIX and PLD
Equinix (EQIX) · Q3 2026
Equinix, Q3 2026: revenue $2.6B (+11% year over year), operating margin 23.3%, net earnings $489M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
Prologis (PLD) · Q1 2026
Prologis, Q1 2026: revenue $2.3B (+7% year over year), operating margin 52.7%, net earnings $982M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Equinix (EQIX) | Prologis (PLD) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q1 2026 |
| Revenue | $2.6B | $2.3B |
| Revenue growth, Y/Y | +11% | +7% |
| Operating margin | 23.3% | 52.7% |
| Net earnings | $489M | $982M |
| Net margin | 19.0% | 42.7% |
| Operating cash flow | $1.2B | $1.3B |
| Free cash flow | — | $524M |
| Market value | $100.2B | $122.2B |
| P/E | 60.6× | 30.8× |
| Analysts’ mean target | $1234.88 | $152.07 |
Where the revenue comes from
Equinix
- Recurring revenues: $2.4B (95%)
- Non-recurring revenues: $129M (5%)
Questions
Which is bigger, Equinix or Prologis?
Equinix is the larger company: $2.6B of revenue in its latest quarter (Q3 2026) against $2.3B for Prologis (Q1 2026).
Is Equinix or Prologis growing faster?
Equinix is growing faster (+11% against +7% a year earlier).
Which is more profitable, Equinix or Prologis?
Prologis is more profitable, with an operating margin of 52.7% against 23.3%.
More: Equinix earnings · how Equinix makes money · Prologis earnings · how Prologis makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Apr 30, 2026). Fiscal quarters can end on different dates. Not investment advice.