Digital Realty Trust vs Equinix (DLR vs EQIX)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Equinix is the larger company by revenue ($9.2B vs $6.1B) and market value ($103.7B vs $67.9B). Digital Realty Trust grew revenue faster in its latest fiscal year (+10.0% vs +5.4%). Equinix runs the higher operating margin (20.0% vs 10.8%). Digital Realty Trust trades at the lower trailing P/E (47.9x vs 72.4x).
About Digital Realty Trust
Digital Realty Trust, Inc. is a global provider of data center, colocation, and interconnection solutions. The company owns, acquires, develops, and operates data centers across multiple continents, serving enterprises and service providers of various sizes. Its services support digital infrastructure needs, enabling customers to deploy critical IT infrastructure with global coverage and connectivity.
About Equinix
Equinix Inc operates a global network of data centers called International Business Exchange (IBX) and xScale facilities, serving customers in the Americas, Asia-Pacific, and EMEA regions. The company provides colocation services, interconnection solutions, and digital infrastructure that enable enterprises, cloud providers, and network service providers to securely connect and manage their IT equipment and workloads. Equinix primarily serves businesses requiring scalable, reliable, and secure digital infrastructure to support cloud, AI, and hybrid IT environments.
Head to head (DLR FY2025 vs EQIX FY2025)
| Metric | DLRFY2025 | EQIXFY2025 |
|---|---|---|
| Revenue | $6.11B | $9.22B |
| Revenue growth (YoY) | 10.0% | 5.4% |
| Gross margin | — | 51.1% |
| Operating margin | 10.8% | 20.0% |
| Net margin | 21.4% | 14.6% |
| Net income | $1.31B | $1.35B |
| Diluted EPS | $3.58 | $13.76 |
| FCF margin | — | -4.3% |
| ROE | — | 9.5% |
| Debt / equity | — | — |
| Market cap | $67.88B | $103.67B |
| P/E (TTM) | 47.9× | 72.4× |
Fundamentals are from each company’s SEC filings (DLR FY2025, EQIX FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DLR | $4.43B | $4.69B | $5.48B | $5.55B | $6.11B |
| EQIX | $6.64B | $7.26B | $8.19B | $8.75B | $9.22B |
Peer standing
Where each company ranks among the 165 REITs, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | DLR | EQIX |
|---|---|---|
| Operating margin | 10.8%25th percentile of 81 | 20.0%43rd percentile of 81 |
| Net margin | 21.4%68th percentile of 156 | 14.6%57th percentile of 156 |
| Revenue growth (YoY) | +10.0%78th percentile of 161 | +5.4%61st percentile of 161 |
| P/E (TTM) | 47.9×79th percentile of 108 | 72.4×84th percentile of 108 |
| Short interest (days to cover) | 1.95d22nd percentile of 154 | 2.27d26th percentile of 154 |
Short interest
| FINRA settlement data | DLR | EQIX |
|---|---|---|
| Shares sold short | 8.1M | 1.8M |
| Change vs prior settlement | -0.3% | -6.2% |
| Days to cover | 1.95 | 2.27 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 open-market activity | DLR | EQIX |
|---|---|---|
| Buys | — | 0 |
| Sells | — | 62 ($15.5M) |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
Held by the same investors
8 tracked 13F managers hold both Digital Realty Trust and Equinix as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Renaissance Technologies, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.