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DLR vs. EQIX: Digital Realty Trust vs. Equinix Stock Comparison

How do Digital Realty Trust (DLR) and Equinix (EQIX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Digital Realty Trust (DLR) and Equinix (EQIX) are both classified in the Data Center REITs sub-industry within the broader Specialized REITs industry, placing them in the closest GICS peer bucket.

Both Digital Realty Trust (DLR) and Equinix (EQIX) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Company profile comparison for Digital Realty Trust (DLR) and Equinix (EQIX)
Profile ItemDLREQIX
NameDigital Realty Trust, Inc.Equinix, Inc.
Country/RegionUnited StatesUnited States
GICS SectorReal EstateReal Estate
GICS Industry GroupEquity Real Estate Investment Trusts (REITs)Equity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITsSpecialized REITs
GICS Sub-IndustryData Center REITsData Center REITs
Market Capitalization65.36 billion USD98.51 billion USD
CurrencyUSDUSD
ExchangeNYSENasdaq
Listing DateOctober 29, 2004August 11, 2000
Security TypeREITREIT

Price Performance

Cumulative Growth

DLR
EQIX
GSPC
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Digital Realty Trust (DLR) vs. Equinix (EQIX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Digital Realty Trust (DLR) and Equinix (EQIX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Digital Realty Trust (DLR) and Equinix (EQIX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
Total Return (1Y)3.54%29.80%
Total Return (3Y, Annualized)18.53%10.85%
Total Return (5Y, Annualized)6.23%6.11%

Risk Profile

Drawdown History

DLR
EQIX
GSPC
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Digital Realty Trust (DLR) vs. Equinix (EQIX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Digital Realty Trust (DLR) and Equinix (EQIX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
Volatility (1Y, Annualized)23.92%22.76%
Beta (5Y)1.040.99
Max Drawdown (5Y)-48.52%-41.77%
Avg. Volume (3M)2.65M587.96K

Risk-Adjusted Performance

Risk-Return Positioning

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DLR and EQIX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
Sharpe Ratio (1Y)-0.021.14
Sortino Ratio (1Y)-0.031.92

Profitability

ROE (TTM)

Equinix (EQIX) at 10.06% sits in the top ROE quartile, while Digital Realty Trust (DLR) at 5.69% is closer to the peer norm — stronger capital efficiency for EQIX.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

5.69%

Max
21.85%
Q3
9.86%
Median
5.86%
DLR
5.69%
Q1
1.38%
Min
-9.66%

EQIX

Equity Real Estate Investment Trusts (REITs) industry group

10.06%

Max
21.85%
EQIX
10.06%
Q3
9.86%
Median
5.86%
Q1
1.38%
Min
-9.66%
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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their ROE against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Net Margin (TTM)

Neither Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) nor Equinix (EQIX) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Operating Margin (TTM)

Neither side reports a meaningful operating margin: for Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) and Equinix (EQIX) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Profitability metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
ROE (TTM)5.69%10.06%
ROA (TTM)1.26%3.50%
Net Margin (TTM)----
Operating Margin (TTM)----
Gross Margin (TTM)----

Growth

Revenue Growth

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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their Revenue Growth across different time periods.

Revenue Growth Metrics

Revenue growth metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
Revenue Growth (YoY)10.04%5.36%
Revenue Growth (3Y CAGR)9.22%8.27%

EPS Growth

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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their EPS Growth across different time periods.

EPS Growth Metrics

EPS growth metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
EPS Growth (YoY)----
EPS Growth (3Y CAGR)----

Financial Strength

Current Ratio (MRQ)

Both Digital Realty Trust (DLR) at 1.23 and Equinix (EQIX) at 1.18 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

1.23

Max
4.00
Q3
1.93
DLR
1.23
Median
0.98
Q1
0.46
Min
0.08

EQIX

Equity Real Estate Investment Trusts (REITs) industry group

1.18

Max
4.00
Q3
1.93
EQIX
1.18
Median
0.98
Q1
0.46
Min
0.08
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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their current ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Debt / Equity (MRQ)

Digital Realty Trust (DLR) at 0.77 keeps leverage in the lower quartile, while Equinix (EQIX) at 1.63 sits in the higher-leverage quartile.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

0.77

Max
2.53
Q3
1.51
Median
1.04
Q1
0.77
DLR
0.77
Min
0.19

EQIX

Equity Real Estate Investment Trusts (REITs) industry group

1.63

Max
2.53
EQIX
1.63
Q3
1.51
Median
1.04
Q1
0.77
Min
0.19
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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their debt-to-equity ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
Current Ratio (MRQ)1.231.18
Debt / Equity (MRQ)0.771.63
Net Debt / EBITDA5.885.13

Dividends

Dividend Yield (TTM)

Both Digital Realty Trust (DLR) at 2.82% and Equinix (EQIX) at 1.92% offer bottom-quartile dividend income relative to share price versus industry peers.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

2.82%

Max
8.88%
Q3
5.56%
Median
4.01%
Q1
3.15%
DLR
2.82%
Min
0.00%

EQIX

Equity Real Estate Investment Trusts (REITs) industry group

1.92%

Max
8.88%
Q3
5.56%
Median
4.01%
Q1
3.15%
EQIX
1.92%
Min
0.00%
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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their dividend yield against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Dividend Payout Ratio (TTM)

An earnings-based payout ratio fits neither Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) nor Equinix (EQIX) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Dividend metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
Dividend Yield (TTM)2.82%1.92%
Dividend Payout Ratio (TTM)----

Valuation

P/E Ratio (TTM)

P/E ratio is not a meaningful valuation yardstick for either Digital Realty Trust (DLR) in Equity Real Estate Investment Trusts (REITs) or Equinix (EQIX) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

P/S Ratio (TTM)

Both Digital Realty Trust (DLR) at 10.35 and Equinix (EQIX) at 10.34 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

10.35

Max
15.51
DLR
10.35
Q3
8.88
Median
6.59
Q1
3.75
Min
0.82

EQIX

Equity Real Estate Investment Trusts (REITs) industry group

10.34

Max
15.51
EQIX
10.34
Q3
8.88
Median
6.59
Q1
3.75
Min
0.82
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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their P/S ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Digital Realty Trust (DLR) at 2.68 sits in the upper P/B ratio quartile, and Equinix (EQIX) at 6.89 prices even higher, above its industry range.

DLR

Equity Real Estate Investment Trusts (REITs) industry group

2.68

Max
4.82
DLR
2.68
Q3
2.67
Median
1.78
Q1
1.20
Min
0.35

EQIX

Equity Real Estate Investment Trusts (REITs) industry group

6.89

EQIX
6.89
Max
4.82
Q3
2.67
Median
1.78
Q1
1.20
Min
0.35
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Digital Realty Trust (DLR) vs. Equinix (EQIX): A comparison of their P/B ratio against the Equity Real Estate Investment Trusts (REITs) industry group benchmark.

Valuation Metrics

Valuation metrics for Digital Realty Trust (DLR) and Equinix (EQIX)
MetricDLREQIX
P/E Ratio (TTM)----
P/S Ratio (TTM)10.3510.34
P/B Ratio (MRQ)2.686.89
Free Cash Flow Yield (TTM)----