Is EQIX halal?

What the company does

Equinix is the world's largest data-center operator (a REIT with 270+ centers in 35 countries) where companies house servers and interconnect with each other. Its money comes from data-center rent and interconnection fees.

What was checked

The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.

• Business activity

  Activity needs clarification: REIT - Specialty

• Interest-bearing debt / market cap

  limit 30%

  Interest-bearing debt $21.99B ÷ 36-month average market cap $82.70B = 26.6%

  26.6%

  Pass

• Cash & investments / market cap

  limit 30%

  Cash + interest-bearing securities $2.22B ÷ 36-month average market cap $82.70B = 2.7%

  2.7%

  Pass

• Non-compliant income / total revenue

  limit 5%

  Interest income $193.00M ÷ annual revenue $9.22B (2025) = 2.1%

  2.1%

  Pass

Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $99.01B.

For information (AAOIFI 3/1 note): cash + receivables are 8.5% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.

In the lists

In the S&P 500

0.15% weight · #116 of 503

Held by funds

SPRE 13.18% · SPUS 0.24%