Ebix Financials

$364 M

Revenue FY, 2017

$2.4 B

Mkt cap, 25-Apr-2018
EBIT (FY, 2017)113.2 M
Cash, 31-Dec-201763.9 M

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

214.3 m265.5 m298.3 m364 m

Revenue growth, %

5%24%12%

Cost of goods sold

47.4 m72.4 m85.1 m

Gross profit

166.9 m193 m213.2 m

Gross profit Margin, %

78%73%71%

Sales and marketing expense

13.8 m14.9 m17.5 m16.3 m

R&D expense

33 m33.9 m

General and administrative expense

36.9 m48.1 m51.7 m60 m

Operating expense total

50.7 m63 m102.1 m250.8 m

Depreciation and amortization

11.1 m

EBIT

79.7 m88.7 m100.3 m113.2 m

EBIT margin, %

37%33%34%31%

Interest expense

4.3 m7.4 m13.4 m

Interest income

231 k1.9 m1.7 m

Pre tax profit

86.6 m95.9 m103.4 m

Income tax expense

(7.1 m)(1.6 m)(777 k)

Net Income

63.6 m79.5 m94.3 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

50.3 m51.4 m51.5 m50.8 m63.8 m64.7 m66.8 m71.1 b72.6 m74.6 m79.1 m87.4 m

Cost of goods sold

10.1 m9.6 m10 m10.3 m19.5 m18.7 m17.8 m19.6 b20.6 m22.4 m25.2 m30.9 m

Gross profit

40.2 m41.8 m41.5 m40.5 m44.3 m46 m49 m51.5 b52 m52.2 m53.9 m56.5 m

Gross profit Margin, %

80%81%81%80%69%71%73%72%72%70%68%65%

Sales and marketing expense

4 m3.3 m3.8 m3.6 m3.4 m3.6 m3.8 m4.3 b4.2 m4.5 m4.3 m4.1 m

R&D expense

6.6 m6.7 m6.8 m6.8 m7 m7.3 m8.3 m8.1 b8.3 m8.6 m8.4 m8.4 m

General and administrative expense

8.4 m9.8 m11.1 m6 m10.7 m12.1 m12.1 m11.6 b13.3 m12.1 m12.7 m14.6 m

Operating expense total

31.7 m32 m34 m29.1 m43.3 m44.3 m44.8 m46.3 b49 m50.3 m53.4 m60.8 m

EBIT

18.6 m19.4 m17.5 m21.7 m20.5 m20.4 m22 m24.8 b23.6 m24.3 m25.7 m26.5 m

EBIT margin, %

37%38%34%43%32%32%33%35%32%33%32%30%

Interest expense

318 k247 k211 k392 k719 k625 k1.1 m1.3 b2.2 m1.9 m2.5 m3 m

Interest income

159 k135 k130 k61 k61 k44 k62 k143 m441 k635 k774 k465 k

Pre tax profit

14.3 m19.6 m16.9 m22 m20.7 m20.2 m22.1 m24.1 b21.6 m24.7 m27.5 m23.6 m

Income tax expense

(1.1 m)(4.2 m)(3.3 m)(4 m)(2.4 m)(1.1 m)(1.9 m)(1.8 b)1.4 m(789 k)(869 k)302 k

Net Income

13.1 m15.4 m13.6 m18 m18.3 m19 m20.2 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

56.7 m52.3 m57.2 m114.1 m63.9 m

Accounts Receivable

Inventories

Current Assets

102.3 m103.9 m116.8 m209.9 m252.9 m

PP&E

8.5 m24.7 m34.1 m37.1 m41.7 m

Goodwill

337.1 m402.2 m402.3 m441.4 m666.9 m

Total Assets

553.9 m634.3 m676 m803.8 m1.1 b

Accounts Payable

44.9 m75.1 m

Short-term debt

Current Liabilities

66.7 m69.8 m51.3 m89.7 m146.9 m

Long-term debt

Total Liabilities

365.1 m579.3 m

Additional Paid-in Capital

164.2 m137.1 m57.1 m1.4 m

Retained Earnings

257.6 m309.7 m378.8 m457.4 m511 m

Total Equity

409 m438.6 m533.8 m

Financial Leverage

1.7 x1.8 x2.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

36.9 m57.7 m32.9 m47.4 m27.2 m27.4 m33.2 m69 m78 m99.8 m120.2 m68.4 m

Current Assets

84.5 m105.8 m81.1 m94.3 m83 m87.7 m93.2 m139.3 m145.4 m185.4 m217 m194.1 m

PP&E

8.8 m8.3 m21.1 m22.6 m28.1 m32.3 m33.6 m34.2 m34.5 m36.2 m38.8 m40.9 m

Goodwill

337.4 m341.7 m352.8 m350.3 m399.4 m412.8 m408.1 m403.2 m406.9 m428.1 m443.3 m557.5 m

Total Assets

533.4 m552.4 m551.5 m564.5 m613.2 m644.3 m648.5 m697.4 m707.9 m761.1 m815.2 m923.3 m

Accounts Payable

13.7 m17.8 m16.3 m11.1 m18.5 m23.1 m21.7 m14.7 m19.3 m30.4 m23.9 m39.7 m

Current Liabilities

59.8 m58.8 m68.5 m35.6 m47.8 m52.8 m49.7 m44.2 m58.6 m71.3 m69.1 m86.4 m

Total Liabilities

127.9 m121.6 m108 m128.1 m194.5 m217.7 m248.3 m280.2 m295.9 m320.9 m381.9 m444.9 m

Additional Paid-in Capital

163.8 m163.1 m163.6 m151 m113.4 m103.5 m69.8 m43.8 m20.3 m16.2 m

Retained Earnings

242.3 m270.1 m280.8 m295.9 m325.3 m341.7 m359.3 m398.5 m419 m440.6 m448.6 m465 m

Total Equity

426.6 m400.2 m417 m411.8 m428.8 m420.6 m437.7 m

Financial Leverage

1.5 x1.6 x1.7 x1.7 x1.8 x1.9 x2.1 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

59.3 m63.6 m79.5 m

Depreciation and Amortization

10.1 m9.7 m10.6 m10.7 m11.1 m

Accounts Receivable

(3.3 m)(1.5 m)(7.3 m)(12.7 m)(34.2 m)

Inventories

Accounts Payable

1.1 m14.7 m(19.9 m)(3.7 m)8.9 m

Cash From Operating Activities

57.1 m58.5 m48.7 m83.7 m76.8 m

Cash From Investing Activities

(8.8 m)(77.8 m)(37.4 m)(20.7 m)(207.1 m)

Short-term Borrowings

(277 k)(231 k)(10 k)(5 k)

Long-term Borrowings

(11 k)

Dividends Paid

(2.8 m)(11.4 m)(10.5 m)(9.8 m)(9.5 m)

Cash From Financing Activities

(26.4 m)15.9 m(6.3 m)(4.1 m)78 m

Interest Paid

1.2 m1.3 m5.4 m7.2 m12.6 m

Income Taxes Paid

13.8 m11.4 m28.6 m16.6 m10.4 m

Free Cash Flow

58.3 m74.8 m62.7 m77.8 m69.4 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

13.1 m15.4 m13.6 m18 m18.3 m37.4 m57.6 m

Depreciation and Amortization

2.5 m2.6 m2.4 m2.4 m2.6 m5.2 m7.9 m2.7 m5.4 m8.1 m2.9 m5.6 m

Accounts Receivable

(3.7 m)(6.3 m)(8.7 m)(6.1 m)(11.2 m)(5.7 m)(14.3 m)

Accounts Payable

(18.8 m)(21.4 m)(7.6 m)(4.2 m)(4.5 m)(7.1 m)(7.3 m)

Cash From Operating Activities

10.2 m25.7 m10.5 m31 m53.1 m15.7 m31.2 m

Cash From Investing Activities

(23.5 m)(32.1 m)(1.8 m)(3.9 m)(7.2 m)(4.2 m)(79.9 m)

Dividends Paid

(5.4 m)(8 m)(2.4 m)(4.9 m)(7.4 m)(2.4 m)(4.8 m)

Cash From Financing Activities

(10.5 m)(10.4 m)2.8 m(5.6 m)(2.5 m)(6.2 m)3 m

Interest Paid

3 m4 m2 m3.1 m5.3 m2.3 m5.2 m

Income Taxes Paid

20.9 m24.7 m7 m10.9 m14.1 m6.7 m8 m

Free Cash Flow

(157 k)13 m9.5 m28.8 m48.6 m13 m26.2 m

Ratios

USDY, 2017

Revenue/Employee

121.8 k

Financial Leverage

2.1 x
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Operating Metrics

Ebix's Customers was reported to be 16 k in FY, 2016.
FY, 2015FY, 2016Q3, 2017

Customers

16 k16 k

Active Cities

2.60 k

Agents

100 k

Countries

50

Locations

40

Suppliers

10 k
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