Equinix, Inc.

DB:EQN2 Stock Report

Market Cap: €86.1b

Equinix Valuation

Is EQN2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EQN2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EQN2 (€891.2) is trading below our estimate of fair value (€1523.04)

Significantly Below Fair Value: EQN2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EQN2?

Key metric: As EQN2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EQN2. This is calculated by dividing EQN2's market cap by their current earnings.
What is EQN2's PE Ratio?
PE Ratio89x
EarningsUS$1.06b
Market CapUS$90.35b

Price to Earnings Ratio vs Peers

How does EQN2's PE Ratio compare to its peers?

The above table shows the PE ratio for EQN2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average75.1x
DLR Digital Realty Trust
159.7x21.1%US$63.0b
AJBU Keppel DC REIT
27.2x13.2%S$4.1b
HABA Hamborner REIT
63.7x11.0%€521.4m
AMT American Tower
49.9x20.0%US$95.5b
EQN2 Equinix
89x14.7%€90.3b

Price-To-Earnings vs Peers: EQN2 is expensive based on its Price-To-Earnings Ratio (89x) compared to the peer average (75.1x).

Price to Earnings Ratio vs Industry

How does EQN2's PE Ratio compare vs other companies in the Global Specialized REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EQN2 89.0xIndustry Avg. 19.2xNo. of Companies8PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EQN2 is expensive based on its Price-To-Earnings Ratio (89x) compared to the Global Specialized REITs industry average (19.1x).

Price to Earnings Ratio vs Fair Ratio

What is EQN2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EQN2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio89x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate EQN2's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EQN2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€891.20
€930.61
+4.4%
7.9%€1,029.45€719.19n/a23
Nov ’25€831.80
€889.30
+6.9%
7.5%€997.55€696.91n/a23
Oct ’25€792.60
€822.73
+3.8%
9.5%€921.47€606.18n/a24
Sep ’25€736.20
€806.95
+9.6%
9.5%€911.37€599.54n/a23
Aug ’25€729.60
€826.07
+13.2%
9.2%€940.03€618.39n/a23
Jul ’25€700.40
€840.07
+19.9%
9.7%€949.93€624.90n/a23
Jun ’25€698.20
€834.29
+19.5%
9.9%€941.87€619.60n/a22
May ’25€679.00
€854.34
+25.8%
10.2%€955.94€626.99n/a22
Apr ’25€749.40
€853.43
+13.9%
8.8%€945.54€648.90n/a22
Mar ’25€827.80
€838.65
+1.3%
8.8%€943.70€647.64n/a22
Feb ’25€765.00
€793.89
+3.8%
8.5%€899.60€578.91n/a22
Jan ’25€732.00
€777.53
+6.2%
8.9%€886.29€570.34n/a22
Dec ’24€744.00
€764.76
+2.8%
9.1%€882.05€578.84n/a23
Nov ’24€686.20
€777.92
+13.4%
9.4%€871.42€596.74€831.8021
Oct ’24€678.40
€789.07
+16.3%
10.1%€887.25€595.92€792.6020
Sep ’24€717.40
€763.44
+6.4%
10.4%€860.24€577.77€736.2020
Aug ’24€731.60
€741.51
+1.4%
9.7%€829.74€565.32€729.6021
Jul ’24€707.00
€736.62
+4.2%
9.3%€820.98€565.56€700.4021
Jun ’24€696.80
€736.89
+5.8%
8.4%€829.03€580.13€698.2021
May ’24€650.00
€707.07
+8.8%
8.7%€806.47€529.13€679.0023
Apr ’24€652.80
€718.80
+10.1%
8.9%€819.03€537.37€749.4023
Mar ’24€646.10
€726.42
+12.4%
8.9%€829.10€543.98€827.8023
Feb ’24€669.10
€682.80
+2.0%
8.8%€806.53€518.87€765.0024
Jan ’24€620.40
€693.19
+11.7%
10.0%€836.03€537.85€732.0024
Dec ’23€665.00
€688.47
+3.5%
9.4%€842.60€552.05€744.0022
Nov ’23€576.60
€711.69
+23.4%
14.5%€991.90€555.46€686.2022

Analyst Forecast: Target price is less than 20% higher than the current share price.

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