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Stocks Comparison

Blackstone Real Estate Income Trust vs Equinix: revenue, profit, margins and growth compared

Blackstone Real Estate Income Trust brought in $8B of revenue in fiscal 2025, Equinix $9.2B in fiscal 2025. Revenue changed by -6.7% at Blackstone Real Estate Income Trust and +5.4% at Equinix on the year before, so Equinix grew faster. Blackstone Real Estate Income Trust kept -41.2% of its revenue as net profit, Equinix 14.6%. Free cash flow was $1.1B at Blackstone Real Estate Income Trust and -$400M at Equinix.

Side by side, latest fiscal year

BSTTEQIX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$8B$9.2B
Revenue growth-6.7%+5.4%
Net income-$3.3B$1.4B
Net margin-41.2%14.6%
Free cash flow$1.1B-$400M
Free cash flow margin13.4%-4.3%
Earnings per share (diluted)-$0.92$13.76
Cash$1.6B$1.7B
Debt$55.5B$1.3B
Price to earningsn/a73.5
Market valuen/a$99.8B
Dividend yieldn/a1.86%
Rank by revenue in sector#6 of 230 · Real estate#4 of 230 · Real estate

Over the years

Revenue
BSTT FY2018: $723.3MBSTT FY2019: $1.7BBSTT FY2020: $2.6BBSTT FY2021: $3.7BBSTT FY2022: $7.6BBSTT FY2023: $8.9BBSTT FY2024: $8.5BBSTT FY2025: $8BEQIX FY2018: $5.1BEQIX FY2019: $5.6BEQIX FY2020: $6BEQIX FY2021: $6.6BEQIX FY2022: $7.3BEQIX FY2023: $8.2BEQIX FY2024: $8.7BEQIX FY2025: $9.2BFY18FY19FY20FY21FY22FY23FY24FY25
BSTT $8BEQIX $9.2B
Net income
BSTT FY2018: -$281.1MBSTT FY2019: -$401.8MBSTT FY2020: -$853.4MBSTT FY2021: -$804.8MBSTT FY2022: -$883.5MBSTT FY2023: -$691.8MBSTT FY2024: -$890.5MBSTT FY2025: -$3.3BEQIX FY2018: $365.4MEQIX FY2019: $507.5MEQIX FY2020: $369.8MEQIX FY2021: $500.2MEQIX FY2022: $705MEQIX FY2023: $969MEQIX FY2024: $815MEQIX FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
BSTT -$3.3BEQIX $1.4B
Net margin
BSTT FY2018: -38.9%BSTT FY2019: -23.8%BSTT FY2020: -33.4%BSTT FY2021: -21.8%BSTT FY2022: -11.6%BSTT FY2023: -7.7%BSTT FY2024: -10.4%BSTT FY2025: -41.2%EQIX FY2018: 7.2%EQIX FY2019: 9.1%EQIX FY2020: 6.2%EQIX FY2021: 7.5%EQIX FY2022: 9.7%EQIX FY2023: 11.8%EQIX FY2024: 9.3%EQIX FY2025: 14.6%FY18FY19FY20FY21FY22FY23FY24FY25
BSTT -41.2%EQIX 14.6%
Revenue growth
BSTT FY2019: +133.1%BSTT FY2020: +51.3%BSTT FY2021: +44.9%BSTT FY2022: +106.8%BSTT FY2023: +16.8%BSTT FY2024: -4.5%BSTT FY2025: -6.7%EQIX FY2019: +9.7%EQIX FY2020: +7.8%EQIX FY2021: +10.6%EQIX FY2022: +9.5%EQIX FY2023: +12.7%EQIX FY2024: +6.8%EQIX FY2025: +5.4%FY19FY20FY21FY22FY23FY24FY25
BSTT -6.7%EQIX +5.4%
Free cash flow
BSTT FY2018: $150.4MBSTT FY2019: $401.2MBSTT FY2020: $644.7MBSTT FY2021: $1.2BBSTT FY2022: $1.4BBSTT FY2023: $1.2BBSTT FY2024: $950.5MBSTT FY2025: $1.1BEQIX FY2018: -$280.7MEQIX FY2019: -$86.8MEQIX FY2020: $27.3MEQIX FY2021: -$204.3MEQIX FY2022: $685MEQIX FY2023: $436MEQIX FY2024: $183MEQIX FY2025: -$400MFY18FY19FY20FY21FY22FY23FY24FY25
BSTT $1.1BEQIX -$400M

Fiscal years as each company reports them; the two may end in different months.

Questions about Blackstone Real Estate Income Trust and Equinix

Which is bigger by revenue, Blackstone Real Estate Income Trust or Equinix?

Equinix is bigger by revenue: $9.2B in fiscal 2025, against $8B for Blackstone Real Estate Income Trust in fiscal 2025.

Which keeps more of its revenue as profit, Blackstone Real Estate Income Trust or Equinix?

Blackstone Real Estate Income Trust had a net margin of -41.2% in fiscal 2025; Equinix had 14.6% in fiscal 2025.

Which grew revenue faster, Blackstone Real Estate Income Trust or Equinix?

In their latest fiscal years revenue changed by -6.7% at Blackstone Real Estate Income Trust and +5.4% at Equinix.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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