Citrix Financials

$690.9 M

Revenue Q3, 2017

$14.4 B

Mkt cap, 23-Feb-2018
Gross profit (Q3, 2017)585 M
Gross profit margin (Q3, 2017), %84.7%
Net income (Q3, 2017)126.7 M
EBIT (Q3, 2017)136.7 M
Cash, 30-Sep-2017940.9 M
EV13.5 B

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

3.1 b3.3 b3.4 b

Revenue growth, %

8%4%4%

Cost of goods sold

620.2 m614.4 m559.5 m

Gross profit

2.5 b2.7 b2.9 b

Gross profit Margin, %

80%81%84%

Sales and marketing expense

1.3 b1.2 b1.2 b

R&D expense

553.8 m564 m489.3 m

General and administrative expense

319.9 m336.3 m377.6 m

Operating expense total

2.2 b2.3 b2.2 b

EBIT

302.3 m350.1 m649.2 m

EBIT margin, %

10%11%19%

Interest expense

28.3 m44.2 m44.9 m

Interest income

9.4 m11.7 m16.7 m

Pre tax profit

275.7 m311.9 m616.8 m

Income tax expense

24 m(7.5 m)80.7 m

Net Income

251.7 m319.4 m536.1 m

Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016

Cash

260.1 m368.5 m957 m

Accounts Receivable

674.4 m669.3 m725.9 m

Prepaid Expenses

166 m132.8 m138.8 m

Inventories

166 m132.8 m12.5 m

Current Assets

1.7 b1.7 b2.6 b

PP&E

367.8 m373.8 m343.8 m

Goodwill

1.8 b2 b2 b

Total Assets

5.5 b5.5 b6.4 b

Accounts Payable

79.9 m95.4 m84.1 m

Current Liabilities

1.6 b1.7 b3.1 b

Common Stock

295 k299 k303 k

Additional Paid-in Capital

4.3 b4.6 b4.8 b

Retained Earnings

3.2 b3.5 b4 b

Total Equity

2.2 b2 b2.6 b

EPS

1.5 2 3.4

Financial Leverage

2.5 x2.8 x2.4 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

298.5 m279.4 m242.8 m402.9 m362.3 m527.6 m513.3 m666.2 m1.3 b908 m844.8 m940.9 m

Accounts Receivable

510.9 m506.4 m465.6 m438.2 m501 m467.8 m450 m504.4 m475.1 m485.8 m541.3 m464.8 m

Prepaid Expenses

138.4 m152.8 m164.9 m186.2 m155 m141.7 m169.6 m135 m119.5 m170.1 m176.1 m168.2 m

Inventories

12.5 m14.2 m16.5 m12 m12.7 m10.9 m12.2 m11.5 m14.8 m15.2 m13.2 m14.9 m

Current Assets

1.5 b1.5 b1.4 b1.7 b1.6 b1.7 b1.8 b2 b2.3 b2.1 b2.1 b2.2 b

PP&E

336.7 m339.8 m353.7 m373.4 m370.8 m371.1 m376 m365.8 m352.5 m260.1 m252.9 m254.3 m

Goodwill

1.8 b1.8 b1.8 b1.9 b2 b2 b2 b2 b2 b1.6 b1.6 b1.6 b

Total Assets

5.3 b5.2 b5.2 b5.5 b5.5 b5.4 b5.5 b5.7 b5.9 b5.4 b5.4 b5.5 b

Accounts Payable

76.7 m79.6 m85.8 m81.1 m82 m143.3 m85.5 m72.6 m85.7 m64.1 m65.3 m56.8 m

Short-term debt

95 m100 m30 m40 m

Current Liabilities

1.4 b1.5 b1.5 b1.6 b1.5 b1.5 b1.6 b1.6 b2.9 b1.6 b1.5 b1.5 b

Total Debt

95 m100 m30 m40 m

Common Stock

293 k293 k294 k296 k297 k298 k301 k301 k302 k305 k305 k305 k

Additional Paid-in Capital

4 b3.9 b4 b4.3 b4.4 b4.5 b4.6 b4.7 b4.7 b4.9 b4.9 b5 b

Retained Earnings

3 b3 b3.1 b3.2 b3.3 b3.3 b3.6 b3.7 b3.8 b3.6 b3.7 b3.8 b

Total Equity

3.4 b2.1 b2.1 b2.1 b2.2 b2.1 b2.1 b2.2 b2.4 b1.7 b1.9 b2 b

EPS

0.3 0.3 0.3 0.2 0.6 0.4 0.5 0.8 0.8 0.2 0.7 0.8

Debt to Equity Ratio

0 x0.1 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x0 x

Financial Leverage

1.5 x2.5 x2.5 x2.6 x2.5 x2.6 x2.7 x2.5 x2.5 x3.1 x2.9 x2.8 x

Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

251.7 m319.4 m536.1 m

Depreciation and Amortization

330.3 m392.9 m249 m

Accounts Receivable

(31 m)(7.2 m)(60.6 m)

Inventories

(1.2 m)703 k(4.1 m)

Accounts Payable

40 k11 m(20.9 m)

Cash From Operating Activities

846 m1 b1.1 b

Purchases of PP&E

(165.4 m)(160.8 m)(134.2 m)

Cash From Investing Activities

(569.5 m)(224.4 m)(484.2 m)

Cash From Financing Activities

(292.7 m)(691.5 m)(38 m)

Net Change in Cash

(20.6 m)108.4 m588.4 m

Interest Paid

5 m8.2 m7.8 m

Income Taxes Paid

130.5 m45.8 m64.4 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

55.9 m109 m156.5 m28.9 m132.2 m188.1 m83.5 m204.4 m336.3 m27.6 m136.5 m263.2 m

Depreciation and Amortization

70 m168.8 m236.8 m65.2 m151 m295.8 m71 m149 m219.2 m49.3 m97.4 m149.8 m

Accounts Receivable

143 m146.2 m182.5 m231 m168.9 m198.1 m219.6 m164 m193 m197.4 m140.5 m216.1 m

Inventories

1.1 m(1.1 m)(4.3 m)319 k(771 k)1.1 m(2.1 m)(1.5 m)(5.4 m)(2.8 m)(1.4 m)(3.4 m)

Accounts Payable

(1.3 m)2.7 m7.5 m1.9 m38 k6.7 m(14.6 m)72.6 m85.7 m(8.2 m)(9.3 m)(17 m)

Cash From Operating Activities

287.9 m491.4 m655.6 m291.9 m493 m752.8 m340 m568.3 m856.8 m249.3 m455.8 m710.6 m

Purchases of PP&E

(30.5 m)(67.1 m)(115.4 m)(44.1 m)(80 m)(119.6 m)(41.6 m)(76.7 m)(105.3 m)(19.7 m)(38.7 m)(61.7 m)

Cash From Investing Activities

(275 m)(320.3 m)(436.2 m)(98.5 m)(222.2 m)(119.7 m)(158.1 m)(239.4 m)113.7 m164.7 m48.2 m(37.3 m)

Cash From Financing Activities

4.2 m(173.3 m)(255.5 m)(42.9 m)(162.7 m)(356.4 m)(39.2 m)(31.7 m)(32.3 m)(466.5 m)(561.6 m)(636.6 m)

Net Change in Cash

17.8 m(1.3 m)(38 m)142.8 m102.2 m267.4 m144.8 m297.7 m940.2 m(49 m)(112.2 m)(16.1 m)

Ratios

USDY, 2017

EV/EBIT

99 x

EV/CFO

19 x

Revenue/Employee

72 k

Financial Leverage

2.8 x
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Operating Metrics

Citrix's Users was reported to be 10 m in Q4, 2014. Citrix's Enterprise Customers was reported to be 400 k in Q4, 2016.
Q4, 2014Q4, 2015Q2, 2016Q4, 2016Q1, 2017Q2, 2017Q3, 2017

Transactions

90 86 96 47 76 62

Unique Customers

2.60 k2.50 k2 k1.90 k2.20 k

Countries

100 100

Enterprise Customers

400 k400 k

Partners

10 k

Users

10 m
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