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 ($103.3B vs $70.1B). 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%). Equinix trades at the lower trailing P/E (67.1x vs 90.1x).
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% |
| Long-term debt / equity | — | — |
| Market cap | $70.09B | $103.28B |
| P/E | 90.1× | 67.1× |
Fundamentals are from each company’s SEC filings (DLR FY2025, EQIX FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
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 | 90.1×85th percentile of 109 | 67.1×81st percentile of 109 |
| Short interest (days to cover) | 3.69d36th percentile of 152 | 2.68d19th percentile of 152 |
Short interest
| FINRA settlement data | DLR | EQIX |
|---|---|---|
| Shares sold short | 7.7M | 1.7M |
| Change vs prior settlement | -8.9% | -13.1% |
| Days to cover | 3.69 | 2.68 |
| As of settlement | 2026-08-14 | 2026-08-14 |
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 activity (codes P/S) | DLR | EQIX |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 1 ($38,792) | 4 ($8.4M) |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
7 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, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
Go deeper
AMT vs DLRDLR vs ODLR vs PLDDLR vs PSADLR vs SPGDLR vs WELLAll reit stocks →All comparisons →
Track DLR and EQIX
Get an alert when either company files something material, see which superinvestors own them, and ask their filings a question with cited answers.
Start monitoring freeIncludes one free filing-grounded research answer. Or check your whole portfolio, no account needed.
Data sourced from SEC EDGAR. 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.