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Guidance history, every release

Equinix (EQIX) · 8 releases, Oct 30, 2024 to Jul 29, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Oct 30, 2024 FY24 Q3	Feb 12, 2025 FY24 Q4	Apr 30, 2025 FY25 Q1	Jul 30, 2025 FY25 Q2	Oct 29, 2025 FY25 Q3	Feb 11, 2026 FY25 Q4	Apr 29, 2026 FY26 Q1	Jul 29, 2026 FY26 Q2
For FY2029
Adjusted EBITDA Margin (In 2029)	—	—	—	—	—	—	—	New“53%+”
For FY2027
Total Revenue Growth (Annual Range)	—	—	—	—	—	—	—	New“10 - 13%”
Adjusted EBITDA Margin (In 2029)	—	—	—	—	—	—	—	New“53%+”
AFFO per Share Growth (Annual Range)	—	—	—	—	—	—	—	New“9 - 12%”
Dividend per Share Growth (Annual Range)	—	—	—	—	—	—	—	New“Approximates AFFO per Share Growth”
Total Capital Expenditures (Annual Range)	—	—	—	—	—	—	—	New“$5,000 - 7,000”
For FY2026
Recurring Capital Expenditures % of Revenues	—	—	—	—	—	New“~3%”	Reiterated“~3%”	Reiterated“~3%”
Recurring Capital Expenditures % of Revenues	—	—	—	—	—	—	—	New“3 - 4%”
Recurring Capital Expenditures % of Revenues	—	—	—	—	—	—	New“2 - 3%”	—
Recurring Capital Expenditures % of Revenues	—	—	—	—	—	New“1 - 2%”	—	—
Revenue growth (as-reported)	—	—	—	—	—	—	—	New“9 - 11%”
Revenue growth (normalized and constant currency)	—	—	—	—	—	—	—	New“10 - 12%”
Revenues	—	—	—	—	—	—	—	New“$2.525 and $2.575 billion”
Revenues	—	—	—	—	—	New“$10,123 - 10,223”	Raised“$10,144 - 10,244”	Raised“$10,205 - 10,285”
Revenues	—	—	—	—	—	—	New“$2.571 and $2.611 billion”	—
Revenues	—	—	—	—	—	New“$2.496 and $2.536 billion”	—	—
Total revenues	—	—	—	—	—	New“$10.123 and $10.223 billion”	Raised“$10.144 and $10.244 billion”	Raised“$10.205 and $10.285 billion”
Total revenues growth (as-reported)	—	—	—	—	—	New“approximately 10 - 11%”	—	—
Total revenues growth (normalized and constant currency)	—	—	—	—	—	New“9 - 10%”	—	—
Adjusted EBITDA	—	—	—	—	—	—	—	New“$1.275 and $1.315 billion”
Adjusted EBITDA	—	—	—	—	—	New“$5.141 and $5.221 billion”	Raised“$5.165 and $5.245 billion”	Raised“$5.210 and $5.270 billion”
Adjusted EBITDA	—	—	—	—	—	—	New“$1.349 and $1.389 billion”	—
Adjusted EBITDA	—	—	—	—	—	New“$1.283 and $1.323 billion”	—	—
Adjusted EBITDA margin	—	—	—	—	—	—	—	New“approximately 51%”
Adjusted EBITDA margin	—	—	—	—	—	New“51%”	Reiterated“51%”	—
Adjusted EBITDA Margin %	—	—	—	—	—	—	New“52 - 53%”	—
Adjusted EBITDA Margin %	—	—	—	—	—	New“51 - 52%”	—	—
Adjusted EBITDA margin expansion	—	—	—	—	—	—	—	New“an approximate +2% expansion over the previous year”
Adjusted EBITDA margin expansion	—	—	—	—	—	New“approximate 200 basis-point expansion”	—	—
AFFO	—	—	—	—	—	New“$4.158 and $4.238 billion”	Raised“$4.198 and $4.278 billion”	Raised“$4.240 and $4.300 billion”
AFFO growth (as-reported)	—	—	—	—	—	New“11 - 13%”	—	Raised“13 - 14%”
AFFO growth (normalized and constant currency)	—	—	—	—	—	New“9 - 11%”	—	Raised“12 - 13%”
AFFO per Share (Diluted)	—	—	—	—	—	New“$41.93 - 42.74”	Raised“$42.31 - 43.11”	Raised“$42.69 - 43.29”
AFFO per share growth (as-reported)	—	—	—	—	—	New“9 - 12%”	—	Raised“11 - 13%”
AFFO per share growth (normalized and constant currency)	—	—	—	—	—	New“8 - 10%”	—	Raised“10 - 12%”
Expected Cash Dividends	—	—	—	—	—	New“~$2,036”	Raised“~$2,037”	Raised“~$2,039”
Non-recurring capital expenditures	—	—	—	—	—	—	New“approximately $3.800 billion”	—
Non-recurring Capital Expenditures (Excludes xScale and Land Acquisitions)	—	—	—	—	—	—	New“~$3,800”	—
Non-recurring Capital Expenditures (Excludes xScale and Real Estate Acquisitions)	—	—	—	—	—	—	—	New“$4,710 - 5,690”
Non-recurring capital expenditures (excludes xScale)	—	—	—	—	—	New“$3.385 and $3.865 billion”	—	—
Non-recurring capital expenditures, excluding on-balance sheet xScale-related spend	—	—	—	—	—	—	New“approximately $3.800 billion”	—
Recurring capital expenditures	—	—	—	—	—	New“$270 and $290 million”	Raised“$280 and $300 million”	Raised“$290 - 310”
Recurring capital expenditures	—	—	—	—	—	—	New“$46 and $66 million”	—
Recurring capital expenditures	—	—	—	—	—	New“$28 and $48 million”	—	—
Recurring Capital Expenditures	—	—	—	—	—	—	—	New“$70 - 90”
Retail capacity and power capacity to be added from major projects underway	—	New“will add approximately 34,000 cabinets of retail capacity and over 165 megawatts of capacity”	—	—	—	—	—	—
Total capital expenditures	—	—	—	—	—	New“$3.655 and $4.155 billion”	Narrowed“approximately $4.100 billion”	Raised“$5.000 and $6.000 billion”
For FY2025
Recurring Capital Expenditures % of revenues	—	—	New“~3%”	Reiterated“~3%”	Reiterated“~3%”	—	—	—
Recurring Capital Expenditures % of revenues	—	—	—	New“3 - 4%”	—	—	—	—
Recurring Capital Expenditures % of revenues	—	—	New“2 - 3%”	—	—	—	—	—
Recurring Capital Expenditures % of Revenues	—	—	—	—	New“6%”	—	—	—
Revenues	—	—	—	—	New“$2.411 and $2.531 billion”	—	—	—
Revenues	—	New“$9.033 - $9.133 billion, an increase of approximately 3 - 4% over the previous year on an as-reported basis, or an increase of 7 - 8% on a normalized and constant-currency basis excluding the year-over-year impact of the power pass-through and Equinix Metal ®”	Raised“$9,175 - 9,275”	Raised“$9,233 - 9,333”	Lowered“$9,208 - 9,328”	—	—	—
Revenues	—	—	—	New“$2.314 and $2.334 billion”	—	—	—	—
Revenues	—	—	New“$2,244 - 2,264”	—	—	—	—	—
Revenues	—	New“$2.191 and $2.231 billion”	—	—	—	—	—	—
Revenues (Q1 2025 outlook)	—	New“the company expects revenues to range between $2.191 and $2.231 billion, an as-reported decrease of 1 - 3% from the previous quarter, or flat on a normalized and constant-currency basis excluding the quarter-over-quarter impact of the power pass-through”	—	—	—	—	—	—
Total revenues	—	New“$9.033 and $9.133 billion”	Raised“$9.175 and $9.275 billion”	Raised“$9.233 and $9.333 billion”	Lowered“$9.208 and $9.328 billion”	—	—	—
Total revenues (full-year 2025 outlook)	—	New“total revenues are expected to range between $9.033 and $9.133 billion, an as-reported increase of approximately 3 - 4% over the previous year, or a normalized and constant-currency increase of approximately 7 - 8% excluding the year-over-year impact of the power pass-through and Equinix Metal”	—	—	—	—	—	—
Total revenues growth, as-reported	—	—	—	—	New“approximately 5 - 7%”	—	—	—
Total revenues growth, normalized and constant currency	—	—	—	—	New“approximately 7 - 8%”	—	—	—
Adjusted EBITDA	—	—	—	—	New“$1.187 and $1.267 billion”	—	—	—
Adjusted EBITDA	—	New“$4.386 and $4.466 billion”	Raised“$4.471 and $4.551 billion”	Raised“$4.517 and $4.597 billion”	Raised“$4.531 and $4.611 billion”	—	—	—
Adjusted EBITDA	—	—	—	New“$1.139 and $1.159 billion”	—	—	—	—
Adjusted EBITDA	—	—	New“$1.095 and $1.115 billion”	—	—	—	—	—
Adjusted EBITDA (full-year 2025 outlook)	—	New“Adjusted EBITDA is expected to range between $4.386 and $4.466 billion, an adjusted EBITDA margin of 49%.”	—	—	—	—	—	—
Adjusted EBITDA (Q1 2025 outlook)	—	New“Adjusted EBITDA is expected to range between $1.011 and $1.051 billion.”	—	—	—	—	—	—
Adjusted EBITDA margin	—	—	—	New“49%”	Reiterated“49%”	—	—	—
Adjusted EBITDA Margin %	—	—	—	—	New“49 - 50%”	—	—	—
Adjusted EBITDA Margin %	—	—	—	New“49 - 50%”	—	—	—	—
Adjusted EBITDA Margin %	—	—	New“~49%”	—	—	—	—	—
AFFO	—	New“$3.606 and $3.686 billion”	Raised“$3,675 - 3,755”	Raised“$3.703 and $3.783 billion”	Raised“$3.731 and $3.811 billion”	—	—	—
AFFO (full-year 2025 outlook)	—	New“AFFO is expected to range between $3.606 and $3.686 billion, an as-reported increase of 7 - 10% over the previous year, or a normalized and constant-currency increase of 9 - 12%.”	—	—	—	—	—	—
AFFO and AFFO per Share	—	New“$3.606 - $3.686 billion, an increase of 7 - 10% over the previous year or a normalized and constant-currency increase of 9 - 12%”	—	—	—	—	—	—
AFFO growth, as-reported	—	—	—	—	New“11 - 14%”	—	—	—
AFFO growth, normalized and constant currency	—	—	—	—	New“11 - 13%”	—	—	—
AFFO per share	—	New“$36.69 and $37.51”	Raised“$37.36 and $38.17, an increase of 7 - 9% over the previous year on both an as-reported and a normalized and constant currency basis”	—	—	—	—	—
AFFO per Share (Diluted)	—	—	New“$37.36 - 38.17”	Raised“$37.67 - 38.48”	Raised“$37.95 - 38.77”	—	—	—
AFFO per share (full-year 2025 outlook)	—	New“AFFO per share is expected to range between $36.69 and $37.51, an as-reported increase of 5 - 7% over the previous year, or a normalized and constant-currency increase of 7 - 9%.”	—	—	—	—	—	—
AFFO per share growth, as-reported	—	—	—	—	New“8 - 11%”	—	—	—
AFFO per share growth, normalized and constant currency	—	—	—	—	New“8 - 10%”	—	—	—
Expected Cash Dividends	—	—	New“~$1,836”	Reiterated“~$1,836”	Reiterated“~$1,836”	—	—	—
Non-recurring capital expenditures	—	New“$2.985 and $3.215 billion”	—	Raised“$3.520 and $4.000 billion”	Lowered“$3.514 and $3.994 billion”	—	—	—
Non-recurring Capital Expenditures (includes xScale)	—	—	New“$3,168 - 3,398”	Raised“$3,520 - 4,000”	Lowered“$3,514 - 3,994”	—	—	—
Non-recurring capital expenditures, including xScale-related capital expenditures	—	—	New“$3.168 and $3.398 billion”	—	—	—	—	—
Non-recurring capital expenditures, including xScale-related capital expenditures (full-year 2025 outlook)	—	New“expected to range between $2.985 and $3.215 billion”	—	—	—	—	—	—
On-balance-sheet xScale-related spend	—	—	—	—	New“approximately $450 million”	—	—	—
Recurring capital expenditures	—	—	—	—	New“$134 and $154 million”	—	—	—
Recurring capital expenditures	—	—	New“$258 and $278 million”	Raised“$272 and $292 million”	Raised“$278 and $298 million”	—	—	—
Recurring capital expenditures	—	—	—	New“$70 and $90 million”	—	—	—	—
Recurring capital expenditures	—	—	New“$49 and $69 million”	—	—	—	—	—
Recurring capital expenditures (full-year 2025 outlook)	—	New“recurring capital expenditures are expected to range between $237 and $257 million”	—	—	—	—	—	—
Recurring capital expenditures (Q1 2025 outlook)	—	New“Recurring capital expenditures are expected to range between $24 and $47 million.”	—	—	—	—	—	—
Total capital expenditures	—	—	New“$3.426 and $3.676 billion”	Raised“$3.792 and $4.292 billion”	Reiterated“$3.792 and $4.292 billion”	—	—	—
Total capital expenditures (full-year 2025 outlook)	—	New“Total capital expenditures are expected to range between $3.222 and $3.472 billion.”	—	—	—	—	—	—
For FY2024
Revenues	New“$2.262 and $2.302 billion”	—	—	—	—	—	—	—
Revenues growth (as-reported)	New“3 - 5%”	—	—	—	—	—	—	—
Revenues growth (normalized and constant currency)	New“2 - 4%”	—	—	—	—	—	—	—
Total revenues	New“$8.748 and $8.788 billion”	—	—	—	—	—	—	—
Total revenues growth (as-reported)	New“approximately 7%”	—	—	—	—	—	—	—
Total revenues growth (normalized and constant currency)	New“approximately 7 - 8%”	—	—	—	—	—	—	—
Adjusted EBITDA	New“$1.010 and $1.050 billion”	—	—	—	—	—	—	—
Adjusted EBITDA	New“$4.086 and $4.126 billion”	—	—	—	—	—	—	—
Adjusted EBITDA margin	New“47%”	—	—	—	—	—	—	—
AFFO	New“$3.338 and $3.378 billion”	—	—	—	—	—	—	—
AFFO growth (as-reported)	New“11 - 12%”	—	—	—	—	—	—	—
AFFO growth (normalized and constant currency)	New“11 - 13%”	—	—	—	—	—	—	—
AFFO per share	New“$34.81 and $35.22”	—	—	—	—	—	—	—
AFFO per share growth (as-reported)	New“8 - 10%”	—	—	—	—	—	—	—
AFFO per share growth (normalized and constant currency)	New“9 - 10%”	—	—	—	—	—	—	—
Non-recurring capital expenditures (including xScale-related)	New“$2.620 and $2.850 billion”	—	—	—	—	—	—	—
Recurring capital expenditures	New“$94 and $114 million”	—	—	—	—	—	—	—
Recurring capital expenditures	New“$230 and $250 million”	—	—	—	—	—	—	—
Total capital expenditures	New“$2.850 and $3.100 billion”	—	—	—	—	—	—	—
No period stated
Quarterly cash dividend	—	New“$4.69 per share”	—	—	—	Raised“$5.16 per share”	—	—

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.