EQUINIX INC vs WELLTOWER INC., two REIT stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Welltower and Equinix are two of the sector's largest names, $165B and $108B, and both are priced for growth their P/Es cannot express, 113 and 75.5 times earnings inflated by REIT depreciation. Welltower yields 1.24% and runs a conservative 0.40 turns of debt; Equinix yields 1.72%, carries 1.38 turns, and spends heavily enough that its free cash runs slightly negative. Welltower's growth is demographic, senior-housing occupancy rising with an aging population; Equinix's is digital, data-hall demand rising with the cloud. Welltower earns a low single-digit return on equity typical of a property landlord, Equinix a higher 9.95% on its interconnection franchise. The pair prices two mega-cap landlords on their tenants' futures, one betting on how people age, the other on how data moves, both asking to be judged on cash flow rather than earnings.
Comparison updated 2026-07-11.
| Metric | EQIX | WELL |
|---|---|---|
| Price | $1091.09 | $227.28 |
| Market cap | $107.7B | $165.1B |
| Sector | REIT | REIT |
| Stage | Mature | Growth |
| P/E | 75.5 | 113.1 |
| P/B | 7.53 | 3.69 |
| P/S | 11.42 | 14.03 |
| EV/EBITDA | 30.9 | 80.3 |
| Revenue growth | +6.7% | +37.5% |
| Operating margin | 23.6% | — |
| Net margin | 15.1% | 12.4% |
| Return on equity | 9.9% | 3.3% |
| Return on assets | 3.5% | 2.2% |
| Return on invested capital | 5.1% | — |
| FCF yield | -0.9% | 1.8% |
| Dividend yield | 1.7% | 1.2% |
| Debt / equity | 1.38 | 0.40 |
| Current ratio | 1.18 | — |
| Altman Z (solvency) | 2.96 | 4.86 |
| Piotroski F (quality) | 5 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.