NASDAQ:EQIX

EQUINIX INC

United StatesReal EstateReal Estate Investment TrustsNasdaq

997.35

USD · Close 5 Nov 2026

Intrinsic value vs last close

Model estimate

Comparison requires review

−90.5%Intrinsic value vs last close

Last close (USD): 997.35
Intrinsic value (USD): 94.94

Intrinsic value = sector model's value (no adjustment)

Earnings-capitalised value

178.91−82.1%vs last close

Cost of equity 11.1% · price volatility 26.1%

Last year's earnings per share, capitalised at a cost of equity that rises with this share's own price swings, growing at the sector's long-run rate.

This is a different figure from the intrinsic value above. The intrinsic value is what the sector model says the business is worth. On Vietnamese stocks this figure has ranked future returns best in our track record; this market has no track record here yet.

Why it needs review

Under financial distress the model falls back to book value.

This estimate remains visible for checking its calculation. Its inputs require review before using it in a stock comparison. The model comparison behind this value needs review. The estimate does not remove the data limitations listed above.

Comparison assessed 5 Nov 2026Valid through 5 Dec 2026

Model reliability: High; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: Not assessed; A separate peer-outperformance probability is unavailable for this valuation.

Assessed 5 Nov 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 5 Nov 2026Anchored to close on 5 Nov 2026The gap is recalculated when the close changes; the value updates weekly.

Valuation Breakdown

Real Estate Investment Trusts→Real Estate

Classified as real estate from the industry its market data reports: “Real Estate Investment Trusts”.

ModelRNAV + DCF Blend

Intrinsic = 40% x RNAV proxy + 60% x DCF Value

Developers often carry land banks at historical cost under US GAAP, so book value can understate asset value. This model blends two approaches: an RNAV proxy (book value with its property share marked up 1.5×) weighted 40%, and a DCF on normalized cash flows weighted 60%. Highly leveraged firms receive a +2% WACC penalty.

Technical details

Why this model

RE developers carry large land inventories at historical cost; cash flows depend on project delivery timing. RNAV captures hidden land value, while DCF captures earnings power. The leverage screen guards against over-leveraged developers.

How it works

RNAV proxy: the property share of BVPS (investment property, fixed assets and inventories over total assets) × 1.5 plus the rest at book, or 1.25× all of book when that share is 10% or less or unknown, cut by up to 50% as D/E rises above 2. DCF: 5-year projection on median cash flow with CAPM-derived WACC. If D/E > 3 or interest coverage < 1.5, WACC is increased by 2%. Final value = 40% RNAV + 60% DCF.

Best for

Property developers and real estate firms with significant land banks recorded at below-market historical cost.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.94%

Betasector default

0.802

ERP

4.20%

CRP

0.22%

Cost of Equity (Ke)

8.53%

E/(D+E)

45.70%

Kd(1-t)

2.36%

D/(D+E)

54.30%

WACC

7.50%

Growth Estimate

fundamental firm blend3.50%

Growth decays 10%/yr toward terminal

Model Inputs

Valuation

We compare the sector model's value with the last close. This market has no track record here yet, so the value is shown as the model gives it.

Last close (USD)→997.35

Intrinsic value vs last close→−90.5%

Intrinsic value = sector model's value (no adjustment)

Intrinsic value (USD)

94.94

What feeds each step— click a source to highlight it in the statements

Discount rate (WACC)7.50%high risk: no

Growth rate3.50%growth method: fundamental firm blend

Base cash flow602.7Mone off strip ratio: 0

DCF Sensitivity

Values from the standalone DCF scenarios below. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.

WACC \ Growth	0.5%	2.0%	3.5%	5.0%	6.5%
5.5%	111.56	116.13	120.69	130.37	149.66
6.5%	9.58	12.62	15.67	22.07	34.70
7.5%	N/A	N/A	N/A	N/A	N/A
8.5%	N/A	N/A	N/A	N/A	N/A
9.5%	N/A	N/A	N/A	N/A	N/A

Above market priceBelow market priceCurrent estimate

NASDAQ:EQIX among Real Estate

Every valued stock in the sector on this market, NASDAQ:EQIX marked: model value vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is NASDAQ:EQIX. Drag to turn; open another stock from its bead.

Feeds valuation:Cost of capitalGrowthModel inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Cash and cash equivalentsNet debt bridge	·	1,727	3,081	2,096	1,906	1,536	1,605	1,870	606	1,413	748	2,229	611	262	252	279	443	346	220	291
Short-term investmentsNet debt bridge	·	1,500	527	0.00	·	0.00	5	10	5	28	3	13	529	370	166	636	147	249	·	·
Fixed assets	·	23,584	19,249	18,601	16,650	15,446	14,503	12,153	10,733	9,395	7,199	5,606	4,998	4,592	3,919	3,226	2,651	1,808	·	·
TOTAL ASSETS	·	40,141	35,085	32,651	30,311	27,919	27,007	23,966	20,245	18,691	12,608	10,357	7,817	7,492	6,133	5,785	4,448	3,038	·	·
Short-term borrowingsDiscount rate (WACC)	·	1,299	1,199	998	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Long-term borrowingsDiscount rate (WACC) +1	·	·	15,334	13,841	12,881	11,722	10,634	10,401	9,891	8,470	5,310	5,246	3,504	3,273	2,450	2,697	·	·	·	·
OWNER'S EQUITYDiscount rate (WACC)	·	14,153	13,527	12,488	11,506	10,882	10,634	8,840	7,219	6,850	4,366	2,745	2,270	2,459	2,335	1,952	1,881	1,182	917	862
MINORITY INTERESTSNet debt bridge	·	−3	−1	−0.4	−0.1	−0.3	0.1	−0.2	0.00	·	·	·	·	·	·	·	·	·	·	·

Earnings Quality

Fiscal year 2025

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

100

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Quantitative Scores

F-Score

6/9

Neutral

Sharpe

0.57

Positive

Composite

Below 30

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✓ROA Rising

✓OCF > Net Income

✓Lower Leverage

✗Better Liquidity

✓No Dilution

✗Margin Up

✗Turnover Up

Price Risk

Momentum

+24.3%

Volatility

29.7%

Max Drawdown

−14.6%

Key Ratios

Fiscal year 2025

73.55P/E

P/B: 7.02
P/S: 10.77
ROE: 9.5%
EPS: 13.79
BVPS: 144.59
Net Margin: 14.6%
D/E: 0.09
Rev Growth: +5.4%
EV/EBITDA: 24.98
Div Yield: —

Company Overview

Shares outstanding: 99.0M
Industry: Real Estate Investment Trusts

Computed 05/11/2026

Intrinsic value vs last close

Earnings-capitalised value

Why it needs review

Valuation Breakdown

DCF Sensitivity

NASDAQ:EQIX among Real Estate

Financial Statements

Earnings Quality

Quantitative Scores

Key Ratios

Company Overview

NASDAQ:EQIX among Real Estate