Equinix vs Prologis (EQIX vs PLD)
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 $8.8B). Prologis carries the larger market value ($135.6B vs $103.7B). Prologis has grown revenue faster over the last 4 fiscal years (+84.7% cumulative vs +38.9%). Prologis runs the higher operating margin (49.6% vs 20.0%). Prologis trades at the lower trailing P/E (35.6x vs 72.4x).
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.
About Prologis
Prologis, Inc. is a real estate investment trust that owns, manages, and develops logistics facilities globally. The company serves customers by providing high-quality industrial properties and integrated infrastructure solutions to support supply chains, including facilities for distribution, fulfillment, and data centers. Prologis operates a portfolio of properties across 20 countries and offers services such as leasing, property management, development, and acquisition.
Head to head (EQIX FY2025 vs PLD FY2025)
| Metric | EQIXFY2025 | PLDFY2025 |
|---|---|---|
| Revenue | $9.22B | $8.79B |
| Revenue growth (YoY) | 5.4% | 7.2% |
| Gross margin | 51.1% | — |
| Operating margin | 20.0% | 49.6% |
| Net margin | 14.6% | 37.9% |
| Net income | $1.35B | $3.33B |
| Diluted EPS | $13.76 | $3.56 |
| FCF margin | -4.3% | — |
| ROE | 9.5% | 5.8% |
| Debt / equity | — | 0.6× |
| Market cap | $103.67B | $135.63B |
| P/E (TTM) | 72.4× | 35.6× |
Fundamentals are from each company’s SEC filings (EQIX FY2025, PLD 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 |
|---|---|---|---|---|---|
| EQIX | $6.64B | $7.26B | $8.19B | $8.75B | $9.22B |
| PLD | $4.76B | $5.97B | $8.02B | $8.20B | $8.79B |
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 | EQIX | PLD |
|---|---|---|
| Operating margin | 20.0%43rd percentile of 81 | 49.6%76th percentile of 81 |
| Net margin | 14.6%57th percentile of 156 | 37.9%88th percentile of 156 |
| Revenue growth (YoY) | +5.4%61st percentile of 161 | +7.2%70th percentile of 161 |
| ROE | 9.5%80th percentile of 141 | 5.8%61st percentile of 141 |
| P/E (TTM) | 72.4×84th percentile of 108 | 35.6×67th percentile of 108 |
| Short interest (days to cover) | 2.27d26th percentile of 154 | 2.79d39th percentile of 154 |
Short interest
| FINRA settlement data | EQIX | PLD |
|---|---|---|
| Shares sold short | 1.8M | 13.0M |
| Change vs prior settlement | -6.2% | -18.2% |
| Days to cover | 2.27 | 2.79 |
| 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 | EQIX | PLD |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 62 ($15.5M) | 1 ($539,550) |
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
5 tracked 13F managers hold both Equinix and Prologis as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, Gotham Asset Management, Millennium Management. See which superinvestors hold your own portfolio with the smart money checker.
Go deeper
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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.