Discounted Cash Flow

Equinix Inc. REIT

EQIX · Based on 10 years of SEC filings · Converted from BRL to USD

⚠ Cash flow predictability 58/100 (moderate) — FCF YoY std dev 49%, net income 34% (full history)

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $704.8m $24.7m $190.1m 3.5% $1.81
2017 $852.5m (20.9%) $45.5m (83.7%) $269.5m (41.8%) 5.3% (51.9%) $3.03 (67.4%)
2018 $989.7m (16.1%) $71.3m (56.8%) $341.5m (26.7%) 7.2% (35.1%) $4.58 (51.2%)
2019 $1.1b (9.7%) $99.0m (38.9%) $377.0m (10.4%) 9.1% (26.6%) $6.03 (31.7%)
2020 $1.2b (7.8%) $72.2m (-27.1%) $425.8m (13.0%) 6.2% (-32.4%) $4.22 (-30.0%)
2021 $1.3b (10.6%) $97.6m (35.3%) $476.1m (11.8%) 7.5% (22.3%) $5.57 (32.0%)
2022 $1.4b (9.5%) $137.4m (40.8%) $550.0m (15.5%) 9.7% (28.6%) $7.69 (38.1%)
2023 $1.6b (12.7%) $189.1m (37.6%) $601.2m (9.3%) 11.8% (22.1%) $10.35 (34.6%)
2024 $1.7b (6.8%) $159.0m (-15.9%) $35.7m (-94.1%) 9.3% (-21.3%) $8.54 (-17.5%)
2025 $1.8b (5.4%) $263.4m (65.6%) $-78.1m (-318.6%) 14.6% (57.2%) $13.79 (61.5%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in BRL. Values above are converted to USD for comparison with the US-listed share price.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model