Euronet Worldwide

Financial Services Technology fintech internet of things payments

Euronet Worldwide is a US provider of electronic payment services. The Company offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, and other electronic financial services. Euronet Worldwide operates in three segments: electronic funds transfer processing (EFT), prepaid processing, and money transfer. The EFT processing segment provides outsourcing and network services to financial institutions and mobile phone companies. This segment provided these services using a network of ATMs and POS terminals in Europe, Asia, and the Middle-East. The prepaid processing — ePay division distributes prepaid mobile airtime, and other prepaid products and collections services for various prepaid products, cards, and services. This segment operates in a network of locations in the United States, Europe, Africa, Asia Pacific, and the Middle-East. It also provides prepaid long distance calling card plans, prepaid internet plans, prepaid debit cards, and prepaid gift cards, as well as prepaid mobile content, such as ringtones and games. The money transfer segment provides global money transfer and bill payment services primarily in North America, the Caribbean, Europe, and Asia-Pacific.

Revenue(FY, 2017)

$2.3 B

Market capitalization(2018-06-14)

$4.4 B

Type

Public

Leawood, US

Founded

1994

Size (employees)

6,300 (est)

Website

euronetworldwide.com

Euronet Worldwide was founded in 1994 and is headquartered in Leawood, US

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Euronet Worldwide Office Locations

Euronet Worldwide has offices in Leawood, Little Rock and Amsterdam

Leawood, US (HQ)

3500 College Blvd

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Euronet Worldwide Financials and Metrics

Euronet Worldwide Financials

Euronet Worldwide's revenue was reported to be $2.25 b in FY, 2017

Summary

USD
Revenue (Q1, 2018)	550.5 m
Net income (Q1, 2018)	26.3 m
EBIT (Q1, 2018)	45.5 m
Market capitalization (14-Jun-2018)	4.4 b
Closing share price (14-Jun-2018)	85.1
Cash (31-Mar-2018)	885.6 m
EV	3.5 b

Euronet Worldwide's current market capitalization is $4.4 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	1.4 b	1.7 b	1.8 b	2 b	2.3 b
Revenue growth, %		18%	6%	11%
Sales and marketing expense					310.8 m
General and administrative expense					190.3 m

Quarterly

USD	Q3, 2013	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Revenue	360.6 m	425.1 m	481.4 m	437.9 m	476.9 m	524 m	473.4 m	536.6 m	637.8 m	550.5 m
Sales and marketing expense	52.8 m	64.8 m	67.1 m	67.2 m	73.8 m	71.9 m	71.9 m	78.6 m	82.1 m	85.7 m
General and administrative expense	33.3 m	38.6 m	43.7 m	37.9 m	42.4 m	41.4 m	42 m	48.4 m	49.3 m	50 m
Operating expense total	305.2 m	378 m	411.1 m	396 m	417.6 m	433.6 m	432.1 m	469.9 m	520.9 m	505 m

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	209.8 m	468 m	457.5 m	734.4 m	819.1 m
Accounts Receivable				1.1 m
Inventories	69.2 m	108.6 m	132.8 m	191.8 m
Current Assets	840.4 m	1.1 b	1.1 b	1.6 b	1.9 b

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Cash	244.5 m	292.3 m	408.4 m	451.2 m	480.7 m	538.1 m	528.8 m	548.5 m	680.1 m	661.3 m	763.6 m	1.1 b	1.1 b	885.6 m
Current Assets	745 m	801.6 m	973.8 m	1 b	1 b	1.1 b	1.1 b	1.1 b	1.3 b	1.3 b	1.4 b	1.8 b	1.9 b	1.9 b
Goodwill	510.8 m	499.7 m	662 m	619.3 m	560.7 m	605.3 m	686.4 m	704.4 m	688.9 m	687.9 m	698.5 m	726.7 m	743.9 m	743.5 m
Total Assets	1.5 b	1.6 b	2 b	2 b	1.9 b	2.1 b	2.2 b	2.2 b	2.4 b	2.4 b	2.6 b	3 b	3.2 b	3.2 b

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Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	87.4 m	101.5 m	98.5 m	174.1 m	156.9 m
Depreciation and Amortization	65.1 m	71.5 m	70 m	80.5 m	95 m
Inventories	(2 m)	(21 m)	(40 m)	(69 m)
Accounts Payable	2.3 m	25.8 m	39.6 m	9.7 m	3.8 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Net Income	78.2 m	15.9 m	36.4 m	71.3 m	7.1 m	33.6 m	65 m	29.1 m	84.7 m	145.4 m	28.1 m	79.4 m	179.8 m	26.3 m
Depreciation and Amortization	48.8 m	16.2 m	33.5 m	52.8 m	17.3 m	33.8 m	51.8 m	19.3 m	38.8 m	58.9 m	21.6 m	44.8 m	69.5 m	26 m
Accounts Payable	(128.4 m)	(94.1 m)	(69.5 m)	(55.8 m)	(100.7 m)	(33.8 m)	(30.7 m)	(109.8 m)	(122.3 m)	(133.2 m)	(144.3 m)	(120.9 m)	(118.7 m)	(98.6 m)
Cash From Operating Activities	150.6 m	53.1 m	103.1 m	224.6 m	54.5 m	156.9 m	231.5 m	104.6 m	134.5 m	217.5 m	50.8 m	92.7 m	230.5 m	27.8 m

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Ratios

USD	Y, 2018
EV/EBIT	76.6 x
EV/CFO	125.2 x
Financial Leverage	2.8 x

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Euronet Worldwide Operating Metrics

	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017
ATMs	20.36 k	20.86 k	21.98 k	21.13 k	21.36 k	24.76 k	25.91 k	29.28 k	33.97 k	35.15 k	37.38 k
Locations	54	54	55	56	56	58	58	59	61	61	60
Point of Sale Terminals (Epay)	681 k	672 k	676 k	665 k	674 k	658 k	657 k	647 k	661 k	666 k	673 k
Processing Centers	11	11	11	12	13	13	13	13	13	13	13