Equinix (EQIX) Investor presentation summary

Strategic positioning and growth drivers

• Positioned as a leading global digital infrastructure provider with 281 data centers in 77 metros and over 10,500 customers, including 5,500+ enterprises and 3,000+ cloud/IT service providers.

• Strong bookings momentum, with Q1 2026 annualized gross bookings reaching $378M and approximately 25% of 2026 retail IBX capacity expansion already pre-sold.

• Accelerating revenue growth, with 10-11% expected in 2026, supported by robust demand, a diversified customer base, and a rich pipeline of opportunities.

• Strategic focus on expanding capacity, improving yields, reducing costs, and fostering employee and customer satisfaction.

• Industry-leading capital allocation strategy, delivering 26% unlevered yields and consistent cash dividend growth since 2015.

Operational performance and expansion

• Maintains the most global and comprehensive digital ecosystem, with 513,000 interconnections and 225+ cloud on-ramps.

• High-quality, diversified, multi-location customer base, with 90% of top customers present in multiple metros and 75% in multiple regions.

• Leading stabilized data center performance, with 82% utilization, 6% YoY revenue growth, and 70% cash gross profit margin.

• Fixed and predictable cost model, with utilities representing 13% of revenues and proactive energy cost management.

• Aggressive global expansion, with 46 projects across 32 markets and 22 countries, targeting over 50,000 new cabinets through 2028.

Financial highlights and guidance

• Q1 2026 recurring revenue grew 10%, interconnection revenue up 9%, and virtual interconnection revenue up 26% YoY.

• Full-year 2026 guidance raised: revenues of $10.14–10.24B (10–11% growth), adjusted EBITDA of $5.17–5.25B (~51% margin), and AFFO per share of $42.31–43.11 (9–11% growth).

• $1B+ quarterly AFFO reached for the first time; 10% YoY AFFO per share growth and 26% stabilized returns achieved.

• 2026 total cash dividends expected at ~$2.04B, or $20.64 per share, marking 11 years of consecutive dividend growth.

• Growth-focused balance sheet with $7.1B available liquidity, majority of debt in foreign currencies, and a 2.9% blended borrowing rate with 6.5-year average maturity.