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Equinix vs Host Hotels & Resorts: revenue, profit, margins and growth compared

Equinix brought in $9.2B of revenue in fiscal 2025, Host Hotels & Resorts $6.1B in fiscal 2025. Revenue changed by +5.4% at Equinix and +7.6% at Host Hotels & Resorts on the year before, so Host Hotels & Resorts grew faster. Equinix kept 14.6% of its revenue as net profit, Host Hotels & Resorts 12.5%. Free cash flow was -$400M at Equinix and $1.2B at Host Hotels & Resorts.

Side by side, latest fiscal year

EQIXHST
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$9.2B$6.1B
Revenue growth+5.4%+7.6%
Net income$1.4B$765M
Net margin14.6%12.5%
Free cash flow-$400M$1.2B
Free cash flow margin-4.3%20.1%
Earnings per share (diluted)$13.76$1.10
Cash$1.7B$768M
Debt$1.3B$1.3B
Price to earnings73.320.4
Market value$99.5B$15.4B
Dividend yield1.86%4.24%
Rank by revenue in sector#3 of 162 · Real estate#7 of 162 · Real estate

Over the years

Revenue
EQIX FY2018: $5.1BEQIX FY2019: $5.6BEQIX FY2020: $6BEQIX FY2021: $6.6BEQIX FY2022: $7.3BEQIX FY2023: $8.2BEQIX FY2024: $8.7BEQIX FY2025: $9.2BHST FY2018: $5.5BHST FY2019: $5.5BHST FY2020: $1.6BHST FY2021: $2.9BHST FY2022: $4.9BHST FY2023: $5.3BHST FY2024: $5.7BHST FY2025: $6.1BFY18FY19FY20FY21FY22FY23FY24FY25
EQIX $9.2BHST $6.1B
Net income
EQIX FY2018: $365.4MEQIX FY2019: $507.5MEQIX FY2020: $369.8MEQIX FY2021: $500.2MEQIX FY2022: $705MEQIX FY2023: $969MEQIX FY2024: $815MEQIX FY2025: $1.4BHST FY2018: $1.1BHST FY2019: $920MHST FY2020: -$732MHST FY2021: -$11MHST FY2022: $633MHST FY2023: $740MHST FY2024: $697MHST FY2025: $765MFY18FY19FY20FY21FY22FY23FY24FY25
EQIX $1.4BHST $765M
Net margin
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%HST FY2018: 19.7%HST FY2019: 16.8%HST FY2020: -45.2%HST FY2021: -0.4%HST FY2022: 12.9%HST FY2023: 13.9%HST FY2024: 12.3%HST FY2025: 12.5%FY18FY19FY20FY21FY22FY23FY24FY25
EQIX 14.6%HST 12.5%
Revenue growth
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%HST FY2019: -1.0%HST FY2020: -70.4%HST FY2021: +78.4%HST FY2022: +69.8%HST FY2023: +8.2%HST FY2024: +7.0%HST FY2025: +7.6%FY19FY20FY21FY22FY23FY24FY25
EQIX +5.4%HST +7.6%
Free cash flow
EQIX FY2018: -$280.7MEQIX FY2019: -$86.8MEQIX FY2020: $27.3MEQIX FY2021: -$204.3MEQIX FY2022: $685MEQIX FY2023: $436MEQIX FY2024: $183MEQIX FY2025: -$400MHST FY2018: $1BHST FY2019: $914MHST FY2020: -$650MHST FY2021: -$1MHST FY2022: $1.1BHST FY2023: $1.2BHST FY2024: $1.2BHST FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
EQIX -$400MHST $1.2B

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

Questions about Equinix and Host Hotels & Resorts

Which is bigger by revenue, Equinix or Host Hotels & Resorts?

Equinix is bigger by revenue: $9.2B in fiscal 2025, against $6.1B for Host Hotels & Resorts in fiscal 2025.

Which keeps more of its revenue as profit, Equinix or Host Hotels & Resorts?

Equinix had a net margin of 14.6% in fiscal 2025; Host Hotels & Resorts had 12.5% in fiscal 2025.

Which grew revenue faster, Equinix or Host Hotels & Resorts?

In their latest fiscal years revenue changed by +5.4% at Equinix and +7.6% at Host Hotels & Resorts.

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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