Intrinsic value of Equinix - EQIX

Previous Close

$414.31

  Intrinsic Value

$114.43

stock screener

  Rating & Target

str. sell

-72%

Previous close

$414.31

 
Intrinsic value

$114.43

 
Up/down potential

-72%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as EQIX.

We calculate the intrinsic value of EQIX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 32.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  18.30
  16.97
  15.77
  14.70
  13.73
  12.85
  12.07
  11.36
  10.73
  10.15
  9.64
  9.17
  8.76
  8.38
  8.04
  7.74
  7.46
  7.22
  7.00
  6.80
  6.62
  6.46
  6.31
  6.18
  6.06
  5.95
  5.86
  5.77
  5.70
  5.63
Revenue, $m
  5,168
  6,045
  6,998
  8,027
  9,128
  10,302
  11,545
  12,857
  14,236
  15,681
  17,192
  18,769
  20,413
  22,124
  23,903
  25,753
  27,675
  29,673
  31,748
  33,906
  36,150
  38,483
  40,912
  43,439
  46,072
  48,816
  51,676
  54,660
  57,773
  61,024
Variable operating expenses, $m
  3,746
  4,267
  4,833
  5,443
  6,097
  6,793
  7,531
  8,309
  9,127
  9,985
  10,202
  11,138
  12,113
  13,128
  14,184
  15,282
  16,423
  17,608
  18,840
  20,120
  21,452
  22,837
  24,277
  25,778
  27,340
  28,968
  30,665
  32,436
  34,283
  36,212
Fixed operating expenses, $m
  300
  307
  314
  321
  328
  335
  342
  350
  358
  365
  374
  382
  390
  399
  407
  416
  426
  435
  445
  454
  464
  475
  485
  496
  507
  518
  529
  541
  553
  565
Total operating expenses, $m
  4,046
  4,574
  5,147
  5,764
  6,425
  7,128
  7,873
  8,659
  9,485
  10,350
  10,576
  11,520
  12,503
  13,527
  14,591
  15,698
  16,849
  18,043
  19,285
  20,574
  21,916
  23,312
  24,762
  26,274
  27,847
  29,486
  31,194
  32,977
  34,836
  36,777
Operating income, $m
  1,121
  1,471
  1,852
  2,263
  2,704
  3,174
  3,672
  4,198
  4,751
  5,331
  6,617
  7,250
  7,909
  8,596
  9,311
  10,054
  10,827
  11,629
  12,464
  13,332
  14,234
  15,172
  16,149
  17,166
  18,226
  19,330
  20,482
  21,683
  22,937
  24,247
EBITDA, $m
  2,795
  3,314
  3,878
  4,487
  5,140
  5,836
  6,573
  7,351
  8,169
  9,027
  9,924
  10,861
  11,837
  12,853
  13,910
  15,009
  16,151
  17,338
  18,572
  19,855
  21,188
  22,576
  24,020
  25,523
  27,089
  28,722
  30,423
  32,199
  34,052
  35,987
Interest expense (income), $m
  0
  575
  697
  831
  977
  1,134
  1,303
  1,482
  1,672
  1,872
  2,083
  2,304
  2,535
  2,776
  3,027
  3,288
  3,560
  3,843
  4,136
  4,442
  4,759
  5,089
  5,431
  5,788
  6,159
  6,545
  6,948
  7,367
  7,804
  8,260
  8,735
Earnings before tax, $m
  546
  774
  1,020
  1,286
  1,570
  1,871
  2,190
  2,526
  2,879
  3,248
  4,313
  4,715
  5,134
  5,570
  6,023
  6,494
  6,984
  7,493
  8,022
  8,573
  9,145
  9,741
  10,361
  11,007
  11,681
  12,383
  13,115
  13,879
  14,678
  15,511
Tax expense, $m
  148
  209
  276
  347
  424
  505
  591
  682
  777
  877
  1,164
  1,273
  1,386
  1,504
  1,626
  1,753
  1,886
  2,023
  2,166
  2,315
  2,469
  2,630
  2,798
  2,972
  3,154
  3,343
  3,541
  3,747
  3,963
  4,188
Net income, $m
  399
  565
  745
  939
  1,146
  1,366
  1,599
  1,844
  2,101
  2,371
  3,148
  3,442
  3,748
  4,066
  4,397
  4,741
  5,098
  5,470
  5,856
  6,258
  6,676
  7,111
  7,564
  8,035
  8,527
  9,039
  9,574
  10,132
  10,715
  11,323

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  21,714
  25,398
  29,405
  33,726
  38,355
  43,285
  48,509
  54,020
  59,814
  65,886
  72,236
  78,863
  85,768
  92,956
  100,432
  108,204
  116,281
  124,674
  133,397
  142,463
  151,890
  161,695
  171,898
  182,519
  193,581
  205,108
  217,126
  229,662
  242,744
  256,402
Adjusted assets (=assets-cash), $m
  21,714
  25,398
  29,405
  33,726
  38,355
  43,285
  48,509
  54,020
  59,814
  65,886
  72,236
  78,863
  85,768
  92,956
  100,432
  108,204
  116,281
  124,674
  133,397
  142,463
  151,890
  161,695
  171,898
  182,519
  193,581
  205,108
  217,126
  229,662
  242,744
  256,402
Revenue / Adjusted assets
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
  0.238
Average production assets, $m
  12,925
  15,118
  17,503
  20,075
  22,830
  25,765
  28,874
  32,155
  35,603
  39,218
  42,998
  46,942
  51,053
  55,331
  59,781
  64,407
  69,215
  74,211
  79,403
  84,800
  90,411
  96,247
  102,320
  108,642
  115,227
  122,088
  129,242
  136,704
  144,490
  152,620
Working capital, $m
  -346
  -405
  -469
  -538
  -612
  -690
  -774
  -861
  -954
  -1,051
  -1,152
  -1,258
  -1,368
  -1,482
  -1,601
  -1,725
  -1,854
  -1,988
  -2,127
  -2,272
  -2,422
  -2,578
  -2,741
  -2,910
  -3,087
  -3,271
  -3,462
  -3,662
  -3,871
  -4,089
Total debt, $m
  12,235
  14,586
  17,142
  19,899
  22,852
  25,998
  29,330
  32,847
  36,543
  40,417
  44,469
  48,696
  53,102
  57,688
  62,458
  67,416
  72,569
  77,924
  83,489
  89,274
  95,288
  101,543
  108,053
  114,829
  121,887
  129,241
  136,909
  144,906
  153,252
  161,966
Total liabilities, $m
  13,853
  16,204
  18,760
  21,517
  24,470
  27,616
  30,949
  34,465
  38,161
  42,036
  46,087
  50,314
  54,720
  59,306
  64,076
  69,034
  74,187
  79,542
  85,107
  90,892
  96,906
  103,161
  109,671
  116,447
  123,505
  130,859
  138,527
  146,524
  154,870
  163,584
Total equity, $m
  7,860
  9,194
  10,644
  12,209
  13,885
  15,669
  17,560
  19,555
  21,653
  23,851
  26,149
  28,548
  31,048
  33,650
  36,357
  39,170
  42,094
  45,132
  48,290
  51,572
  54,984
  58,534
  62,227
  66,072
  70,076
  74,249
  78,600
  83,138
  87,873
  92,817
Total liabilities and equity, $m
  21,713
  25,398
  29,404
  33,726
  38,355
  43,285
  48,509
  54,020
  59,814
  65,887
  72,236
  78,862
  85,768
  92,956
  100,433
  108,204
  116,281
  124,674
  133,397
  142,464
  151,890
  161,695
  171,898
  182,519
  193,581
  205,108
  217,127
  229,662
  242,743
  256,401
Debt-to-equity ratio
  1.560
  1.590
  1.610
  1.630
  1.650
  1.660
  1.670
  1.680
  1.690
  1.690
  1.700
  1.710
  1.710
  1.710
  1.720
  1.720
  1.720
  1.730
  1.730
  1.730
  1.730
  1.730
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
  1.740
Adjusted equity ratio
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362
  0.362

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  399
  565
  745
  939
  1,146
  1,366
  1,599
  1,844
  2,101
  2,371
  3,148
  3,442
  3,748
  4,066
  4,397
  4,741
  5,098
  5,470
  5,856
  6,258
  6,676
  7,111
  7,564
  8,035
  8,527
  9,039
  9,574
  10,132
  10,715
  11,323
Depreciation, amort., depletion, $m
  1,674
  1,843
  2,026
  2,224
  2,436
  2,662
  2,901
  3,153
  3,418
  3,696
  3,308
  3,611
  3,927
  4,256
  4,599
  4,954
  5,324
  5,709
  6,108
  6,523
  6,955
  7,404
  7,871
  8,357
  8,864
  9,391
  9,942
  10,516
  11,115
  11,740
Funds from operations, $m
  2,073
  2,407
  2,771
  3,163
  3,582
  4,028
  4,500
  4,997
  5,520
  6,067
  6,456
  7,053
  7,675
  8,322
  8,995
  9,695
  10,423
  11,178
  11,964
  12,781
  13,631
  14,515
  15,434
  16,392
  17,390
  18,431
  19,516
  20,648
  21,829
  23,063
Change in working capital, $m
  -54
  -59
  -64
  -69
  -74
  -79
  -83
  -88
  -92
  -97
  -101
  -106
  -110
  -115
  -119
  -124
  -129
  -134
  -139
  -145
  -150
  -156
  -163
  -169
  -176
  -184
  -192
  -200
  -209
  -218
Cash from operations, $m
  2,126
  2,466
  2,835
  3,232
  3,656
  4,106
  4,583
  5,085
  5,612
  6,164
  6,557
  7,159
  7,785
  8,437
  9,115
  9,819
  10,551
  11,312
  12,103
  12,926
  13,781
  14,671
  15,597
  16,562
  17,567
  18,615
  19,707
  20,848
  22,038
  23,281
Maintenance CAPEX, $m
  -840
  -994
  -1,163
  -1,346
  -1,544
  -1,756
  -1,982
  -2,221
  -2,473
  -2,739
  -3,017
  -3,308
  -3,611
  -3,927
  -4,256
  -4,599
  -4,954
  -5,324
  -5,709
  -6,108
  -6,523
  -6,955
  -7,404
  -7,871
  -8,357
  -8,864
  -9,391
  -9,942
  -10,516
  -11,115
New CAPEX, $m
  -2,002
  -2,193
  -2,385
  -2,572
  -2,756
  -2,935
  -3,109
  -3,281
  -3,449
  -3,615
  -3,780
  -3,944
  -4,110
  -4,279
  -4,450
  -4,626
  -4,808
  -4,996
  -5,192
  -5,397
  -5,611
  -5,836
  -6,073
  -6,322
  -6,585
  -6,862
  -7,154
  -7,462
  -7,787
  -8,130
Cash from investing activities, $m
  -2,842
  -3,187
  -3,548
  -3,918
  -4,300
  -4,691
  -5,091
  -5,502
  -5,922
  -6,354
  -6,797
  -7,252
  -7,721
  -8,206
  -8,706
  -9,225
  -9,762
  -10,320
  -10,901
  -11,505
  -12,134
  -12,791
  -13,477
  -14,193
  -14,942
  -15,726
  -16,545
  -17,404
  -18,303
  -19,245
Free cash flow, $m
  -716
  -721
  -713
  -687
  -644
  -584
  -508
  -417
  -310
  -189
  -239
  -93
  64
  231
  408
  594
  789
  992
  1,203
  1,421
  1,647
  1,880
  2,121
  2,369
  2,625
  2,889
  3,162
  3,444
  3,735
  4,037
Issuance/(repayment) of debt, $m
  2,155
  2,351
  2,556
  2,757
  2,953
  3,145
  3,333
  3,516
  3,696
  3,874
  4,051
  4,228
  4,406
  4,586
  4,770
  4,958
  5,153
  5,355
  5,565
  5,784
  6,014
  6,256
  6,509
  6,776
  7,058
  7,354
  7,667
  7,998
  8,346
  8,714
Issuance/(repurchase) of shares, $m
  810
  769
  705
  625
  530
  419
  292
  151
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  2,965
  3,120
  3,261
  3,382
  3,483
  3,564
  3,625
  3,667
  3,696
  3,874
  4,051
  4,228
  4,406
  4,586
  4,770
  4,958
  5,153
  5,355
  5,565
  5,784
  6,014
  6,256
  6,509
  6,776
  7,058
  7,354
  7,667
  7,998
  8,346
  8,714
Total cash flow (excl. dividends), $m
  2,248
  2,399
  2,549
  2,695
  2,839
  2,979
  3,117
  3,251
  3,386
  3,685
  3,812
  4,134
  4,469
  4,817
  5,178
  5,553
  5,942
  6,347
  6,768
  7,205
  7,661
  8,135
  8,630
  9,145
  9,683
  10,244
  10,830
  11,442
  12,082
  12,750
Retained Cash Flow (-), $m
  -1,209
  -1,334
  -1,450
  -1,564
  -1,676
  -1,785
  -1,891
  -1,995
  -2,097
  -2,198
  -2,299
  -2,399
  -2,500
  -2,602
  -2,706
  -2,813
  -2,924
  -3,038
  -3,158
  -3,282
  -3,412
  -3,549
  -3,693
  -3,845
  -4,005
  -4,173
  -4,351
  -4,538
  -4,736
  -4,944
Prev. year cash balance distribution, $m
  198
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,238
  1,065
  1,098
  1,131
  1,163
  1,195
  1,226
  1,256
  1,289
  1,487
  1,513
  1,736
  1,969
  2,215
  2,472
  2,739
  3,018
  3,309
  3,610
  3,923
  4,249
  4,586
  4,936
  5,300
  5,678
  6,071
  6,479
  6,904
  7,346
  7,806
Discount rate, %
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.85
  11.40
  11.97
  12.57
  13.19
  13.85
  14.55
  15.27
  16.04
  16.84
  17.68
  18.57
  19.49
  20.47
  21.49
  22.57
  23.69
  24.88
  26.12
  27.43
  28.80
  30.24
  31.75
  33.34
PV of cash for distribution, $m
  1,145
  904
  850
  790
  727
  662
  596
  529
  466
  455
  387
  366
  337
  303
  265
  227
  190
  154
  122
  95
  71
  52
  37
  26
  17
  11
  7
  4
  2
  1
Current shareholders' claim on cash, %
  97.5
  95.6
  94.1
  92.9
  92.1
  91.5
  91.2
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0
  91.0

Equinix, Inc. is a publicly owned real estate investment trust. It provides data center services to protect and connect the information assets for the enterprises, financial services companies, and content and network providers primarily in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company provides colocation services and related offerings, including operations space, storage space, cabinets, and power for customersÂ’ colocation needs; interconnection services comprising physical cross connect/direct interconnections, Equinix Internet Exchange, Equinix Cloud Exchange, Equinix Metro Connect, and Internet connectivity services; and managed IT infrastructure services, including installation of customer equipment and cabling, as well as equipment rebooting and power cycling, card swapping, and emergency equipment replacement services. Equinix, Inc. was founded in 1998 and is headquartered in Redwood City, California.

FINANCIAL RATIOS  of  Equinix (EQIX)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

EQIX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EQIX stock intrinsic value calculation we used $4368.428 million for the last fiscal year's total revenue generated by Equinix. The default revenue input number comes from 0001 income statement of Equinix. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EQIX stock valuation model: a) initial revenue growth rate of 18.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.1%, whose default value for EQIX is calculated based on our internal credit rating of Equinix, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Equinix.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EQIX stock the variable cost ratio is equal to 74.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $294 million in the base year in the intrinsic value calculation for EQIX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.7% for Equinix.

Corporate tax rate of 27% is the nominal tax rate for Equinix. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EQIX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EQIX are equal to 250.1%.

Life of production assets of 13 years is the average useful life of capital assets used in Equinix operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EQIX is equal to -6.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $6849.79 million for Equinix - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 79.458 million for Equinix is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Equinix at the current share price and the inputted number of shares is $32.9 billion.

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COMPANY NEWS

▶ [$$] As REITs Rebound, These Sectors Stand Out   [Sep-09-18 10:58PM  The Wall Street Journal]
▶ Equinix Delivers Double-Digit Revenue and AFFO Growth   [Aug-11-18 05:00PM  Motley Fool]
▶ The 3 Stocks on the MFM Team's Radar This Week   [Aug-10-18 10:49PM  Motley Fool]
▶ [$$] Rising Dividends From a Data-Center Giant   [Aug-09-18 05:10PM  Barrons.com]
▶ Equinix: 2Q Earnings Snapshot   [04:48PM  Associated Press]
▶ Equinix, Inc. to Host Earnings Call   [03:30PM  ACCESSWIRE]
▶ 3 High-Yield Tech Stocks   [Jul-30-18 05:52PM  Motley Fool]
▶ How Benchmark's Kevin Kelly Is Playing Equinix   [Jul-17-18 03:56PM  Bloomberg Video]
▶ 10 Stocks With the Largest Dividends in the World   [Jun-25-18 07:35AM  Motley Fool]
▶ 6 Cloud Stocks Poised for Rapid Growth   [Jun-19-18 07:01AM  Investopedia]
▶ Equinix to Expand London Data Center   [May-14-18 04:00AM  PR Newswire]
▶ Consider Investing in BDCs for Current Income   [May-12-18 12:00PM  TheStreet.com]
▶ Benchmark's Kelly Has an Options Play for Equinix   [May-07-18 05:42PM  Bloomberg Video]
▶ Equinix: 1Q Earnings Snapshot   [May-02-18 04:27PM  Associated Press]
▶ The Offices at Frisco Station lands first tenants   [Apr-30-18 03:53PM  American City Business Journals]
▶ How InfoMart Dallas will allow its new owner to expand its Latin American business   [Apr-05-18 07:25AM  American City Business Journals]
▶ Equinix Completes Acquisition of Infomart Dallas   [Apr-03-18 08:01AM  PR Newswire]
▶ Equinix Builds AI Model to Predict Customer Churn   [Apr-02-18 05:41PM  The Wall Street Journal]
▶ HealthEquity Appoints New Director to the Board   [Mar-28-18 04:07PM  GlobeNewswire]
▶ 5 REITs Forecasted To Grow By Double-Digits   [Mar-26-18 07:00AM  Forbes]
▶ The 6 Most Inexpensive Growth Stocks Right Now   [Mar-20-18 05:40PM  Benzinga]
▶ Hedge Funds Are Betting on These REITs in 2018   [Mar-15-18 11:25PM  Insider Monkey]

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