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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jon Atkin | RBC Capital Markets | 8 (0%) |
| Nick Del Deo | MoffettNathanson | 7 (0%) |
| Eric Luebchow | Wells Fargo | 7 (0%) |
| Mike Rollins | Citigroup | 7 (0%) |
| Frank Louthan | Raymond James | 6 (17%) |
| Mike Funk | Bank of America | 5 (40%) |
| Aryeh Klein | BMO Capital Markets | 5 (0%) |
| Michael Elias | TD Cowen | 5 (0%) |
| Matt Niknam | Truist Securities | 3 (33%) |
| Jim Schneider | Goldman Sachs | 3 (33%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| RBC Capital Markets | 1 | 8 (0%) |
| Citigroup | 1 | 7 (0%) |
| Wells Fargo | 1 | 7 (0%) |
| MoffettNathanson | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.26B | +7.1% | $-0.14 | -105.8% | 47.1% | 4.6% | -0.6% | $-6M |
| FY2025 Q1 | $2.23B | +4.6% | $3.50 | +44.0% | 51.3% | 20.6% | 15.4% | $59M |
| FY2025 Q2 | $2.26B | +4.5% | $3.75 |
| 7 (0%) |
| Raymond James | 1 | 6 (17%) |
| Bank of America | 1 | 5 (40%) |
| Morgan Stanley | 2 | 5 (0%) |
| Goldman Sachs | 2 | 5 (20%) |
| +18.7% |
| 52.0% |
| 21.9% |
| 16.3% |
| $-45M |
| FY2025 Q3 | $2.32B | +5.2% | $3.81 | +22.9% | 50.7% | 20.5% | 16.1% | $-122M |
| FY2025 Q4 | $2.44B | +8.0% | $2.69 | +2021.4% | 50.9% | 17.3% | 10.9% | $-292M |
| FY2026 Q1 | $2.44B | +9.8% | $4.20 | +20.0% | 51.5% | 23.6% | 17.0% | $-539M |
| FY2026 Q2 | $2.63B | +16.4% | $4.83 | +28.8% | 53.1% | 25.3% | 18.2% | $2.32B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Equinix posted Q1 2026 revenues of $2.4B, up 8%, with AFFO per share of $10.79 growing 10% and adjusted EBITDA of $1.2B up 13% at a 51% margin. Record total sales activity surged 35% year-over-year, driven by AI inferencing ecosystem expansion and rapid liquid cooling deployments. Full-year guidance was raised with AFFO growth improved to 10-12% and revenue growth to 10-11%, reflecting broad-based strength across the platform.
Demand | Revenue Growth | Cloud & AI | Capex Investment | Competitive Dynamics | Supply Chain | Margin | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 3 | 2 | 3 | 3 | 2 | 1 | 1 |
| 2025Q1 | 5 | 3 | 2 | 2 | 1 | 1 | 1 | 1 |
| 2025Q2 | 4 | 4 | 2 | 3 | 1 | 1 | 1 | 1 |
| 2025Q3 | 4 | 4 | 2 | 3 | 2 | 1 | 2 | 1 |
| 2025Q4 | 4 | 4 | 5 | 1 | 1 | 1 | 1 | 1 |
| 2026Q1 | 4 | 3 | 6 | 3 | 1 | 1 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 3 | 5 | 4 | 4 | 4 | 4 |
| Revenue Growth | 3 | 3 | 4 | 4 | 4 | 3 |
| Cloud & AI | 2 | 2 | 2 | 2 | 5 | 6 |
| Capex Investment | 3 | 2 | 3 | 3 | 1 | 3 |
| Competitive Dynamics | 3 | 1 | 1 | 2 | 1 | 1 |
| Supply Chain | 2 | 1 | 1 | 1 | 1 | 1 |
| Margin | 1 | 1 | 1 | 2 | 1 | 1 |
| Pricing | 1 | 1 | 1 | 1 | 1 | 1 |
What EQIX and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we signed a joint agreement with Canada Pension Plan Investment Board to Paratus at North.”
Equinix formed a joint agreement with Canada Pension Plan Investment Board to expand its Nordics data-center footprint, indicating CPPIB is deploying capital into European digital infrastructure.
“We also grew our relationship with Maersk, a global leader in integrated logistics as it digitizes critical supply chain infrastructure.”
Maersk expanded its relationship with Equinix, selecting it as primary data-center partner including first liquid-cooled AI deployments, signaling Maersk's growing digital and AI infrastructure investment.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
EQIX Equinix | 8 | +9.8% | |
| AMT American Tower | 6 | +6.8% | |
| CCI Crown Castle | 3 | -4.8% | |
| IRM Iron Mountain | 9 | +21.6% | |
| SBAC SBA Communications | 7 | +5.9% | |
| WY Weyerhaeuser | 5 | -2.0% |