NetScout was founded in 1984 and is headquartered in Westford, US

NetScout has offices in Westford, San Jose, Ciudad de México, Berkeley and in 19 other locations

Westford, US (HQ)

310 Littleton Rd

Sao Paulo, BR

12551 Av. das Nações Unidas

Brossard, CA

9160 Boulevard Leduc

Waterloo, CA

120 Randall Dr

Oakville, CA

466 Speers Rd

Kirkland, US

5400 Carillon Point

NetScout's revenue was reported to be $1.2 b in FY, 2017 which is a **22% increase** from the previous period.

USD

## Revenue (FY, 2017) | 1.2 b |

## Revenue growth (FY, 2016 - FY, 2017), % | 22% |

## Gross profit (FY, 2017) | 816 m |

## Gross profit margin (FY, 2017), % | 70% |

## Net income (FY, 2017) | 33.3 m |

## EBIT (FY, 2017) | 62.1 m |

## Market capitalization (18-Aug-2017) | 3 b |

## Cash (31-Mar-2017) | 304.9 m |

## EV | 3 b |

NetScout's current market capitalization is $3 b.

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Revenue | 396.6 m | 453.7 m | 955.4 m | 1.2 b |

## Revenue growth, % | 14% | 111% | 22% | |

## Cost of goods sold | 84.5 m | 94.6 m | 328.4 m | 346.1 m |

## Gross profit | 312.1 m | 359.1 m | 627 m | 816 m |

## Gross profit Margin, % | 79% | 79% | 66% | 70% |

## Sales and marketing expense | 328.6 m | |||

## R&D expense | 232.7 m | |||

## General and administrative expense | 118.4 m | |||

## Operating expense total | 234.1 m | 262.3 m | 652.5 m | 753.9 m |

## EBIT | 78 m | 96.8 m | (25.6 m) | 62.1 m |

## EBIT margin, % | 20% | 21% | (3%) | 5% |

## Interest expense | 768 k | 773 k | 6.3 m | (9.2 m) |

## Interest income | 309 k | 445 k | 691 k | 1 m |

## Pre tax profit | 77.9 m | 95 m | ||

## Income tax expense | 28.8 m | 33.8 m | (4.1 m) | 18.9 m |

## Net Income | 49.1 m | 61.2 m | (28.4 m) | 33.3 m |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 107.9 m | 103.6 m | 122.8 m | 100.7 m | 261.1 m | 307.7 m | 269 m | 272 m | 302.2 m |

## Cost of goods sold | 22.6 m | 21.6 m | 27 m | 21.3 m | 100.2 m | 106.1 m | 87 m | 84.5 m | 81.7 m |

## Gross profit | 85.3 m | 82 m | 95.9 m | 79.4 m | 160.9 m | 201.6 m | 181.9 m | 187.5 m | 220.5 m |

## Gross profit Margin, % | 79% | 79% | 78% | 79% | 62% | 66% | 68% | 69% | 73% |

## Sales and marketing expense | 37.3 m | 32.2 m | 34.8 m | 38.1 m | 79.2 m | 91.4 m | 81.6 m | 76.7 m | |

## R&D expense | 18.8 m | 19.2 m | 18.9 m | 18.1 m | 65.9 m | 65.1 m | 60.6 m | 61 m | 58.1 m |

## General and administrative expense | 8.8 m | 11.1 m | 13.4 m | 10.1 m | 41.3 m | 31 m | 30.9 m | 31.5 m | 28.5 m |

## Operating expense total | 64.8 m | 62.5 m | 67.1 m | 66.2 m | 186.4 m | 187.5 m | 173.1 m | 169.3 m | 86.6 m |

## EBIT | 19.6 m | 18.6 m | 27.9 m | 12.4 m | (35.3 m) | 2.3 m | (10.8 m) | 805 k | 33.4 m |

## EBIT margin, % | 18% | 18% | 23% | 12% | (14%) | 1% | (4%) | 0% | 11% |

## Interest expense | (194 k) | (196 k) | (191 k) | (192 k) | (1.8 m) | (2.1 m) | (2.3 m) | (2.2 m) | (2.3 m) |

## Interest income | 104 k | 98 k | 95 k | 158 k | 172 k | 189 k | 191 k | 229 k | 207 k |

## Pre tax profit | 19.5 m | 18.1 m | 27.4 m | 12.2 m | |||||

## Income tax expense | 8 m | 6.9 m | 9.8 m | 4.6 m | (28.2 m) | 23.9 m | (4.7 m) | (359 k) | 9.4 m |

## Net Income | 11.5 m | 22.7 m | 40.3 m | 7.7 m | (246 k) | (24.8 m) | (9 m) | (10.3 m) | 11 m |

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Cash | 102.1 m | 104.9 m | 210.7 m | 304.9 m |

## Accounts Receivable | 10 m | |||

## Inventories | 12.6 m | 12.1 m | 58 m | |

## Current Assets | 278.8 m | 337.3 m | 740.5 m | 854.5 m |

## Goodwill | 203.4 m | 197.4 m | 1.7 b | 1.7 b |

## Total Assets | 607.8 m | 669 m | 3.6 b | 3.6 b |

## Accounts Payable | 11.5 m | 13.1 m | 44 m | 37.4 m |

## Total Debt | 300 m | |||

## Current Liabilities | 163 m | 187.6 m | 457.1 m | 460.2 m |

## Total Liabilities | 1.2 b | |||

## Additional Paid-in Capital | 273.6 m | 298.1 m | 2.6 b | 2.7 b |

## Retained Earnings | 250.6 m | 311.8 m | 283.4 m | 316.7 m |

## Total Equity | 2.4 b | 2.4 b | ||

## Debt to Equity Ratio | 0.1 x | |||

## Debt to Assets Ratio | 0.1 x | |||

## Financial Leverage | 1.5 x | 1.5 x |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 89 m | 79 m | 106.7 m | 94.4 m | 215.5 m | 230.5 m | 210.9 m | 195.4 m | 244.8 m |

## Inventories | 11 m | 14.5 m | 10.3 m | 12.7 m | 71.1 m | 63.4 m | |||

## Current Assets | 246.8 m | 264.2 m | 315.2 m | 307.9 m | 697.5 m | 753.9 m | 668.9 m | 665.1 m | 745.6 m |

## Goodwill | 203 m | 201.5 m | 200.3 m | 198.2 m | 1.7 b | 1.7 b | 1.7 b | 1.7 b | 1.7 b |

## Total Assets | 588.1 m | 591.5 m | 638.9 m | 641.8 m | 3.6 b | 3.6 b | 3.5 b | 3.5 b | 3.5 b |

## Accounts Payable | 9.9 m | 10.2 m | 10.9 m | 11.2 m | 37.4 m | 52.7 m | 45.6 m | 45.9 m | 41.7 m |

## Current Liabilities | 141.7 m | 145.5 m | 168.9 m | 148.8 m | 374.2 m | 433.1 m | 424.6 m | 422.6 m | 453 m |

## Additional Paid-in Capital | 278.1 m | 287.8 m | 292.1 m | 302.5 m | 2.6 b | 2.6 b | 2.7 b | 2.7 b | 2.7 b |

## Retained Earnings | 262 m | 273.3 m | 290.9 m | 319.4 m | 311.5 m | 287 m | 274.4 m | 273.1 m | 294.4 m |

## Total Equity | 446.4 m | 2.6 b | 2.5 b | 2.4 b | 2.4 b | 2.4 b | |||

## Financial Leverage | 1.4 x | 1.4 x | 1.4 x | 1.5 x | 1.5 x | 1.5 x |

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Net Income | 49.1 m | 61.2 m | (28.4 m) | 33.3 m |

## Depreciation and Amortization | 18.3 m | 19.7 m | 140.1 m | 160.9 m |

## Accounts Receivable | 13.5 m | (22 m) | ||

## Inventories | (6.8 m) | (499 k) | 5.5 m | 12.5 m |

## Accounts Payable | 1.5 m | 1.4 m | 2.3 m | 405 k |

## Cash From Operating Activities | 110.9 m | 106.9 m | 95.3 m | 227.8 m |

## Purchases of PP&E | (13.1 m) | (12.8 m) | (24.8 m) | (29.7 m) |

## Cash From Investing Activities | (76.6 m) | (56.2 m) | 25.1 m | (42.3 m) |

## Cash From Financing Activities | (32 m) | (48.8 m) | (15.3 m) | (90.6 m) |

## Interest Paid | 3.8 m | 6.4 m | ||

## Income Taxes Paid | 21.5 m | 29.2 m | 50.7 m | 49.3 m |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 11.5 m | 22.7 m | 40.3 m | 7.7 m | (246 k) | (24.8 m) | (9 m) | (10.3 m) | 11 m |

## Depreciation and Amortization | 4.9 m | 9.8 m | 14.4 m | 5 m | 51.8 m | 97.7 m | 40.2 m | 80.6 m | 120.9 m |

## Accounts Receivable | 27.6 m | 10.7 m | (23 m) | 23.7 m | 52.7 m | ||||

## Inventories | 612 k | (2.9 m) | 1.4 m | (1.8 m) | 7.2 m | 5.2 m | (3.7 m) | 239 k | (2.5 m) |

## Accounts Payable | (1.6 m) | (1.2 m) | (700 k) | (1.6 m) | (5 m) | 13.7 m | 4.9 m | 4.4 m | 2.4 m |

## Cash From Operating Activities | 28.2 m | 29 m | 57.3 m | 9.3 m | 6.9 m | 56.6 m | 37.7 m | 53.6 m | 131.9 m |

## Purchases of PP&E | (1.9 m) | (4 m) | (8.6 m) | (3.4 m) | (9.1 m) | (14 m) | (9.2 m) | (15.7 m) | (21.7 m) |

## Cash From Investing Activities | (30.6 m) | (25.6 m) | (26 m) | (16.8 m) | 42.7 m | 35.3 m | 12.9 m | 15.8 m | (6.6 m) |

## Cash From Financing Activities | (10.7 m) | (26.8 m) | (27.1 m) | (3.2 m) | 61.3 m | 34 m | (50.1 m) | (84.6 m) | (89.2 m) |

## Income Taxes Paid | 6.1 m | 15.6 m | 20.8 m | 3 m |

USD | Y, 2017 |
---|---|

## EV/EBIT | 48 x |

## EV/CFO | 13.1 x |

## Revenue/Employee | 371.5 k |

## Debt/Equity | 0.1 x |

## Debt/Assets | 0.1 x |

## Financial Leverage | 1.5 x |

NetScout's Customers was reported to be 4 k in Mar, 2017. NetScout's Backlog was reported to be $62.7 m in FY, 2017, which is a 50% decrease from the previous period

Source: 76 public H-1B filings from NetScout