Summary - Funding Rounds

Founding Date

1997
Dupont Fabros Technology is a subsidiary of Digital Realty

Dupont Fabros Technology Income Statement

Annual

USDFY, 2011FY, 2013Y, 2013FY, 2014FY, 2015FY, 2016

Revenue

287.4m375.1m375.1m417.6m452.4m528.7m

Revenue growth, %

11%8%17%

General and administrative expense

16.0m16.3m17.2m23.0m

Operating expense total

16.0m16.3m17.2m23.0m

Depreciation and amortization

93.1m96.8m

EBIT

108.5m144.2m144.2m162.9m39.6m211.9m

EBIT margin, %

38%38%38%39%9%40%

Interest expense

27.1m

Interest income

137.0k60.0k

Income tax expense

600.0k100.0k

Net Income

65.0m48.4m53.6m105.9m(4.1m)181.4m

Dupont Fabros Technology Balance Sheet

Annual

USDFY, 2011FY, 2013FY, 2014FY, 2015FY, 2016

Cash

14.4m38.7m29.6m31.2m38.6m

Accounts Receivable

Prepaid Expenses

31.7m44.5m48.3m

Inventories

Total Assets

2.5b2.7b2.8b2.8b3.0b

Accounts Payable

23.0m23.6m27.0m11.8m36.9m

Dividends Payable

14.5m26.0m40.0m

Short-term debt

Long-term debt

714.8m60.0m

Total Debt

714.8m60.0m

Total Liabilities

822.5m1.0b1.2b1.5b

Common Stock

63.0k65.0k66.0k

Additional Paid-in Capital

927.9m901.0m764.0m685.0m766.7m

Retained Earnings

(7.1m)(79.9m)

Total Equity

1.2b1.3b1.1b956.4m967.0m

Debt to Equity Ratio

0.6 x0.1 x

Debt to Assets Ratio

0.3 x0 x

Financial Leverage

2.1 x2.1 x2.5 x2.9 x3.1 x

Quarterly

USDQ1, 2011Q2, 2011Q3, 2011Q1, 2012Q2, 2012Q4, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017

Cash

111.0m31.8m55.2m40.8m23.6m17.7m14.4m198.2m71.8m56.1m8.7m27.1m105.9m67.8m31.2m242.5m277.0m61.8m38.6m45.0m31.1m

Prepaid Expenses

20.2m27.8m27.0m28.7m30.8m39.5m42.3m42.1m48.4m49.7m49.9m50.4m48.7m47.7m44.7m45.3m37.8m41.4m41.3m50.3m48.5m

Total Assets

2.5b2.5b2.5b2.5b2.5b2.5b2.5b2.8b2.8b2.8b2.8b2.9b3.0b2.9b2.8b3.1b3.0b3.0b3.0b3.2b3.3b

Accounts Payable

16.6m20.1m23.7m20.9m22.3m29.8m24.4m26.7m22.4m24.1m26.6m28.5m31.9m30.3m32.3m28.1m33.1m31.7m36.9m29.6m39.4m

Dividends Payable

14.5m14.5m15.6m18.1m22.2m21.9m25.9m25.9m34.2m34.2m34.2m39.7m39.7m39.7m43.9m47.7m45.2m43.7m46.4m46.4m46.4m

Short-term debt

12.3m12.8m13.1m13.4m

Long-term debt

697.4m696.1m693.5m692.2m707.6m725.0m725.0m150.0m50.9m197.8m336.0m

Total Debt

697.4m696.1m693.5m704.5m720.4m738.1m738.4m150.0m50.9m197.8m336.0m

Total Liabilities

828.7m818.9m804.9m795.1m810.5m847.7m846.5m1.1b1.1b1.1b1.1b1.3b1.4b1.4b1.4b1.4b1.4b1.4b1.5b1.6b1.8b

Common Stock

60.9m61.0k62.0k63.0k63.0k63.0k65.0k65.0k65.0k66.0k66.0k66.0k65.0k65.0k65.0k66.0k74.0k76.0k76.0k76.0k78.0k78.0k

Additional Paid-in Capital

875.6m999.5m915.4m838.2m915.1m939.1m938.8m892.4m913.4m868.4m864.3m724.8m766.8m812.9m685.0m808.9m726.4m792.0m766.7m773.3m631.0m

Retained Earnings

(28.8m)(14.8m)(1.9m)(10.2m)(79.9m)(55.5m)(18.2m)

Total Equity

1.1b1.1b1.3b1.3b1.2b1.3b1.3b1.3b1.2b1.3b1.2b1.2b1.1b1.1b1.2b956.4m1.1b1.0b993.1m967.0m973.6m831.4m

Debt to Equity Ratio

0.6 x0.5 x0.5 x0.6 x0.6 x0.6 x0.6 x0.1 x0.1 x0.2 x0.4 x

Debt to Assets Ratio

0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.1 x0 x0.1 x0.1 x

Financial Leverage

2.2 x2 x2 x2.1 x2 x2 x2 x2.2 x2.2 x2.3 x2.3 x2.7 x2.6 x2.5 x2.9 x2.8 x3 x3 x3.1 x3.3 x4 x

Dupont Fabros Technology Cash Flow

Annual

USDFY, 2011FY, 2013FY, 2014FY, 2015FY, 2016

Net Income

65.0m53.6m124.6m(4.1m)181.4m

Depreciation and Amortization

75.1m93.1m96.8m104.0m107.8m

Accounts Receivable

1.8m(5.9m)4.6m

Inventories

Accounts Payable

(1.2m)1.5m1.4m1.1m(229.0k)

Cash From Operating Activities

125.1m193.8m244.5m255.0m290.0m

Capital Expenditures

(3.8m)(5.8m)(1.9m)

Cash From Investing Activities

(391.7m)(153.1m)(277.2m)(241.7m)(261.0m)

Short-term Borrowings

(258.3m)

Dividends Paid

(29.3m)(57.9m)(85.4m)

Cash From Financing Activities

54.1m(25.5m)23.6m(11.7m)(21.6m)

Net Change in Cash

(212.5m)15.2m(9.1m)

Interest Paid

54.4m42.8m42.6m51.1m48.9m

Free Cash Flow

121.3m188.0m242.6m

Quarterly

USDQ1, 2011Q2, 2011Q3, 2011Q1, 2012Q2, 2012Q4, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017

Net Income

13.0m32.1m51.7m11.8m25.3m60.8m14.8m33.5m32.5m31.6m64.6m94.9m26.3m57.5m87.9m(4.1m)36.7m97.3m138.2m181.4m44.3m82.2m

Depreciation and Amortization

36.2m54.6m21.9m44.4m89.2m23.0m46.2m69.8m23.3m46.9m71.7m25.0m51.2m77.6m104.0m25.8m52.2m79.7m107.8m28.2m57.2m

Accounts Receivable

1.6m954.0k(3.1m)(566.0k)(2.5m)(6.4m)(3.2m)(2.4m)(979.0k)2.2m2.6m(3.6m)(447.0k)(492.0k)(1.5m)(97.0k)192.0k(3.2m)(1.9m)2.0m2.1m

Accounts Payable

(4.8m)(1.7m)727.0k(2.0m)(1.1m)6.3m2.3m4.6m(1.2m)(993.0k)2.8m1.9m5.0m3.4m5.1m(4.6m)27.0k(1.1m)4.5m(7.3m)2.1m

Cash From Operating Activities

54.7m103.1m40.2m58.6m132.8m47.8m85.8m140.7m44.5m118.6m171.8m49.1m127.5m191.4m255.0m51.3m124.4m197.9m290.0m54.6m137.3m

Capital Expenditures

(1.5m)(3.1m)(179.0k)(1.7m)(4.4m)(809.0k)(4.4m)(5.0m)(425.0k)(1.0m)(2.1m)(574.0k)(1.2m)(2.4m)(3.5m)(2.1m)(3.1m)(4.0m)(4.8m)(186.0k)(418.0k)

Cash From Investing Activities

(239.2m)(348.9m)(23.8m)(39.0m)(107.5m)(8.4m)(25.4m)(70.9m)(83.8m)(135.5m)(198.7m)(61.2m)(114.0m)(174.4m)(241.7m)(77.9m)(8.1m)(142.3m)(261.0m)(141.5m)(323.3m)

Short-term Borrowings

(35.0m)(35.0m)(50.0m)(20.0m)(30.0m)(258.3m)(180.0m)(180.0m)(180.0m)(60.0m)(60.0m)(60.0m)(85.0m)

Dividends Paid

(7.3m)(14.5m)(21.8m)(7.5m)(15.1m)(12.7m)(25.6m)(41.8m)(16.3m)(27.7m)(55.2m)(82.7m)(110.1m)(31.1m)(66.0m)(101.6m)(137.1m)(37.9m)(76.9m)

Cash From Financing Activities

68.5m50.7m24.4m6.8m(16.1m)(45.3m)(69.6m)104.9m72.3m34.3m(3.1m)9.6m62.8m21.2m(11.7m)237.8m129.5m(25.0m)(21.6m)93.3m178.4m

Net Change in Cash

(115.9m)(195.1m)40.8m26.4m9.2m(5.9m)(9.2m)174.6m33.1m17.4m(30.0m)(2.5m)76.3m38.2m1.6m211.3m245.8m30.6m7.4m6.4m(7.5m)

Interest Paid

27.9m29.7m1.4m26.0m1.7m26.2m37.0m18.8m21.1m40.5m19.9m22.5m41.7m51.1m20.1m29.2m48.5m48.9m16.8m23.3m

Free Cash Flow

53.3m99.9m40.0m56.9m128.3m47.0m81.4m135.6m44.1m117.6m169.7m48.5m126.2m189.0m251.6m49.2m121.3m193.9m285.1m54.4m136.9m

Dupont Fabros Technology Ratios

USDQ1, 2011