Level 3 Communications was founded in 1998 and is headquartered in Broomfield, US

President and Chief Executive Officer

Chief Marketing Officer

Executive Vice President & Chief Financial Officer

Regional President, North America and APAC

Regional President Latin America

Level 3 Communications has an office in Broomfield

Broomfield, US (HQ)

1025 Eldorado Boulevard

Level 3 Communications's revenue was reported to be $8.2 b in FY, 2016 which is a **1% decrease** from the previous period.

USD

## Revenue (FY, 2016) | 8.2 b |

## Revenue growth (FY, 2015 - FY, 2016), % | (1%) |

## Gross profit (FY, 2016) | 5.4 b |

## Gross profit margin (FY, 2016), % | 67% |

## Net income (FY, 2016) | 677 m |

## EBIT (FY, 2016) | 1.4 b |

## Market capitalization (28-Jun-2017) | 22 b |

## Closing share price (28-Jun-2017) | 60.2 |

## Cash (31-Dec-2016) | 1.8 b |

## EV | 31 b |

Level 3 Communications's current market capitalization is $22 b.

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 6.3 b | 6.8 b | 8.2 b | 8.2 b |

## Revenue growth, % | (1%) | 7% | 21% | (1%) |

## Cost of goods sold | 2.5 b | 2.5 b | 2.8 b | 2.7 b |

## Gross profit | 3.8 b | 4.2 b | 5.4 b | 5.4 b |

## Gross profit Margin, % | 61% | 63% | 66% | 67% |

## Operating expense total | 5.6 b | 5.8 b | 6.9 b | 6.7 b |

## Depreciation and amortization | 800 m | 808 m | 1.2 b | 1.3 b |

## EBIT | 666 m | 1 b | 1.3 b | 1.4 b |

## EBIT margin, % | 11% | 15% | 16% | 18% |

## Interest expense | 649 m | 654 m | 642 m | 546 m |

## Interest income | 1 m | 1 m | 4 m | |

## Pre tax profit | (71 m) | 238 m | 283 m | 842 m |

## Income tax expense | 38 m | (76 m) | (3.2 b) | 165 m |

## Net Income | (109 m) | 314 m | 3.4 b | 677 m |

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 631 m | 580 m | 854 m | 1.8 b |

## Current Assets | 1.5 b | 1.5 b | 1.7 b | 2.7 b |

## PP&E | 8.2 b | 9.9 b | 9.9 b | 10.1 b |

## Goodwill | 2.6 b | 7.7 b | 7.7 b | 7.7 b |

## Total Assets | 12.9 b | 20.9 b | 24.1 b | 24.9 b |

## Accounts Payable | 625 m | 664 m | 629 m | 706 m |

## Total Debt | 8.4 b | 11.3 b | 10.9 b | 10.9 b |

## Current Liabilities | 1.4 b | 1.9 b | 1.4 b | 1.5 b |

## Additional Paid-in Capital | 14.3 b | 19.2 b | 19.6 b | 19.8 b |

## Retained Earnings | (13 b) | (12.7 b) | (9.2 b) | (8.5 b) |

## Total Equity | 1.4 b | 6.4 b | 10.1 b | 10.9 b |

## Debt to Equity Ratio | 5.9 x | 1.8 x | 1.1 x | 1 x |

## Debt to Assets Ratio | 0.6 x | 0.5 x | 0.5 x | 0.4 x |

## Financial Leverage | 9.1 x | 3.3 x | 2.4 x | 2.3 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | (109 m) | 314 m | 3.4 b | 677 m |

## Cash From Operating Activities | 713 m | 1.2 b | 1.9 b | 2.3 b |

## Capital Expenditures | (760 m) | (910 m) | (1.2 b) | (1.3 b) |

## Cash From Investing Activities | (745 m) | (1.1 b) | (1.3 b) | (1.3 b) |

## Cash From Financing Activities | (294 m) | (82 m) | (219 m) | (56 m) |

## Income Taxes Paid | 33 m | 44 m | 50 m | 35 m |

## Free Cash Flow | (47 m) | 251 m | 626 m | 1 b |

USD | Y, 2016 |
---|---|

## EV/EBIT | 21.5 x |

## EV/CFO | 13.2 x |

## EV/FCF | 30.7 x |

## Revenue/Employee | 653.8 k |

## Debt/Equity | 1 x |

## Debt/Assets | 0.4 x |

## Financial Leverage | 2.3 x |

Source: 105 public H-1B filings from Level 3 Communications