$4.5 B

NUAN Mkt cap, 20-Jul-2018

$1 B

Nuance Revenue Q2, 2018
Nuance Gross profit (Q2, 2018)565.7 M
Nuance Gross profit margin (Q2, 2018), %55.7%
Nuance Net income (Q2, 2018)-110.8 M
Nuance EBIT (Q2, 2018)-120.5 M
Nuance Cash, 31-Mar-2018468.6 M
Nuance EV6.4 B

Nuance Revenue Breakdown

Embed Graph

Nuance revenue breakdown by business segment: 16.6% from Maintenance and support, 49.0% from Professional services and hosting and 34.3% from Product and licensing

Nuance Income Statement

Annual

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

Revenue

1.9 b1.9 b1.9 b1.9 b1.9 b

Revenue growth, %

4%0%1%

Cost of goods sold

766.6 m844.3 m829.9 m829.5 m853.8 m

Gross profit

1.1 b1.1 b1.1 b1.1 b1.1 b

Gross profit Margin, %

59%56%57%57%56%

Sales and marketing expense

390.9 m398.1 m

R&D expense

271.1 m266.1 m

General and administrative expense

168.5 m166.7 m

Operating expense total

830.5 m1 b

Depreciation and amortization

64.9 m

EBIT

48.5 m(21.4 m)54.9 m138.5 m52 m

EBIT margin, %

3%(1%)3%7%3%

Interest expense

137.8 m132.7 m118.6 m132.7 m156.9 m

Interest income

1.6 m2.3 m2.6 m4.4 m6.9 m

Pre tax profit

(96.7 m)(155 m)(80.5 m)1.7 m(119 m)

Income tax expense

18.6 m(4.7 m)34.5 m14.2 m32 m

Net Income

(115.2 m)(150.3 m)(115 m)(12.5 m)(151 m)

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q2, 2018

Revenue

470 m475.7 m475.5 m474 m475.1 m477.9 m486.1 m478.7 m477.9 m487.7 m499.6 m486.2 m1 b

Cost of goods sold

207.8 m210.4 m216.1 m210.4 m203.3 m204.7 m205.9 m205.5 m207.9 m212.4 m213.4 m216.2 m450.2 m

Gross profit

262.2 m265.3 m259.4 m263.6 m271.8 m273.2 m280.2 m273.2 m270 m275.2 m286.2 m270 m565.7 m

Gross profit Margin, %

56%56%55%56%57%57%58%57%56%56%57%56%56%

Sales and marketing expense

118.9 m98.3 m99.8 m111.3 m93.3 m99.3 m100.6 m92.8 m96 m101.5 m93.7 m97 m196.1 m

R&D expense

80.5 m84.6 m87.1 m82.6 m74.8 m79.1 m71.1 m67.2 m67.8 m66.3 m66.2 m66.6 m147.6 m

General and administrative expense

44.5 m43.7 m43.7 m50.6 m45.7 m41 m39.7 m45.9 m40.3 m39.8 m41.5 m42.3 m127.2 m

Operating expense total

278 m264.6 m275.7 m278.2 m245.3 m258.9 m248.7 m240.3 m241.3 m251.2 m254.6 m255.7 m686.2 m

Depreciation and amortization

30.1 m

EBIT

(15.8 m)654 k(16.3 m)(14.6 m)26.5 m14.3 m31.5 m32.9 m28.7 m24 m31.5 m14.3 m(120.5 m)

EBIT margin, %

(3%)0%(3%)(3%)6%3%6%7%6%5%6%3%(12%)

Interest expense

34 m34 m31.9 m29.9 m30 m29.5 m29.9 m32.3 m33.2 m38 m37.9 m40.4 m69.9 m

Interest income

419 k774 k535 k562 k627 k670 k883 k1.6 m1 m1 m1.3 m2 m4.4 m

Pre tax profit

(52.4 m)(32.8 m)(47.3 m)(44.7 m)(3 m)(32.9 m)(4.3 m)2.2 m(4 m)(13.6 m)(24.7 m)(25.2 m)(186.8 m)

Income tax expense

7 m5.8 m11.1 m6.5 m7.8 m9.2 m7.8 m10.4 m9.1 m2.6 m(76 m)

Net Income

(55.4 m)(39.2 m)(54.2 m)(50.5 m)(14.1 m)(39.4 m)(12.1 m)(7 m)(11.8 m)(23.9 m)(33.8 m)(27.8 m)(110.8 m)

Nuance Balance Sheet

Annual

USDFY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

527 m516.6 m447.2 m1.1 b808.1 m547.2 m479.4 m481.6 m592.3 m

Accounts Receivable

(6.3 m)

Inventories

105 m92 m76.8 m78.1 m88.3 m

Current Assets

1.4 b1.2 b1 b1 b1.3 b

Goodwill

3.3 b3.4 b3.4 b3.5 b3.6 b

Total Assets

6 b5.8 b5.6 b5.7 b5.9 b

Accounts Payable

91 m61.8 m56.6 m94.6 m94.6 m

Short-term debt

246 m4.8 m4.8 m376.1 m

Current Liabilities

805.2 m642 m626.4 m690.9 m1.1 b

Long-term debt

Total Debt

376.1 m

Total Liabilities

4 b

Common Stock

314 k291 k294 k

Additional Paid-in Capital

3 b3.2 b3.1 b2.5 b2.6 b

Retained Earnings

(369.4 m)(530.6 m)(750.4 m)(429 m)(580 m)

Total Equity

2.6 b2.6 b2.3 b1.9 b1.9 b

Debt to Equity Ratio

0.2 x

Debt to Assets Ratio

0.1 x

Financial Leverage

2.3 x2.3 x2.5 x2.9 x3.1 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q2, 2018

Cash

734.7 m768.3 m846.9 m517.8 m474.7 m397.1 m506.7 m250.7 m559.1 m961.6 m625.6 m693.6 m468.6 m

Current Assets

1.4 b1.4 b1.5 b1.2 b1.1 b966.2 m1 b767.6 m1 b1.6 b1.3 b1.3 b1.1 b

Goodwill

3.4 b3.4 b3.4 b3.4 b3.4 b3.4 b3.4 b3.4 b3.4 b3.5 b3.5 b3.6 b3.5 b

Total Assets

6 b6 b6.1 b5.8 b5.6 b5.6 b5.5 b5.3 b5.5 b6.2 b5.9 b5.9 b5.6 b

Accounts Payable

59.1 m57.9 m67.8 m57.7 m58.1 m42.8 m48.2 m58.8 m81.9 m70.8 m98.3 m107.6 m92.8 m

Short-term debt

248.5 m251 m253.5 m4.8 m4.8 m4.8 m977.5 m366.6 m371.3 m

Current Liabilities

835.9 m832.3 m875.3 m602.3 m595.1 m600.8 m603 m772.1 m668.3 m1.7 b1.1 b1.1 b741.5 m

Long-term debt

2.1 b2.1 b2.1 b2.1 b2.1 b2.1 b2.3 b

Total Debt

2.4 b2.4 b2.4 b2.1 b2.1 b2.1 b977.5 m366.6 m371.3 m2.3 b

Total Liabilities

3.4 b3.4 b3.5 b3.2 b3.2 b3.3 b3.3 b3.5 b3.7 b4.3 b3.9 b4 b3.7 b

Additional Paid-in Capital

3 b3.1 b3.1 b3.2 b3.2 b3.1 b3.3 b3 b3 b2.5 b2.6 b2.6 b2.7 b

Retained Earnings

(433.2 m)(474.8 m)(529.1 m)(581.1 m)(631.4 m)(715.1 m)(861.4 m)(1.1 b)(1.1 b)(453 m)(486.8 m)(514.6 m)(691.7 m)

Total Equity

2.3 b2.3 b1.8 b1.8 b1.9 b1.9 b2 b1.9 b

Financial Leverage

2.4 x2.4 x2.9 x3.1 x3.2 x3 x3 x2.9 x

Nuance Cash Flow

Annual

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

Net Income

(115.2 m)(150.3 m)(115 m)(12.5 m)(151 m)

Depreciation and Amortization

63.6 m61 m63.6 m62.9 m234.4 m

Accounts Receivable

25.2 m(40 m)41.7 m25.5 m(6.3 m)

Inventories

88.3 m

Accounts Payable

(26.8 m)(28.6 m)(3.2 m)38.2 m(1.2 m)

Cash From Operating Activities

395 m358.1 m487.6 m565.8 m378.9 m

Cash From Investing Activities

(693.9 m)(311 m)(206.1 m)(263 m)(334.2 m)

Long-term Borrowings

(425.6 m)(255 m)(261.1 m)(511.8 m)(634.1 m)

Cash From Financing Activities

(20.7 m)(307.2 m)(341.2 m)(305.1 m)67.1 m

Free Cash Flow

450.6 m418.4 m545.6 m510.9 m317 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q2, 2018

Net Income

(55.4 m)(94.6 m)(148.9 m)(50.5 m)(64.6 m)(104 m)(12.1 m)(19.1 m)(30.9 m)(23.9 m)(57.7 m)(85.6 m)(110.8 m)

Depreciation and Amortization

55.1 m109.4 m165.3 m57.2 m114 m171.9 m58.3 m115.8 m173.1 m58 m116.6 m175 m107.1 m

Accounts Receivable

(6.5 m)6.5 m(4.7 m)7.2 m17 m51 m(3.9 m)22.1 m23.4 m(9.7 m)(1.4 m)28.1 m(12.4 m)

Accounts Payable

(28 m)(32.1 m)(25 m)(2.6 m)1.9 m(14.6 m)(5.9 m)2.7 m25 m(21.2 m)(1 m)12.2 m(3.8 m)

Cash From Operating Activities

78.2 m165.2 m262.2 m95.7 m215.6 m336 m141.1 m301.1 m426.9 m124.9 m250.3 m382.4 m195.4 m

Cash From Investing Activities

(105.4 m)(150.1 m)(164.3 m)(79.2 m)(130.8 m)(195.5 m)(24.2 m)(59.7 m)(39.6 m)(97 m)(176 m)(229.9 m)64.2 m

Cash From Financing Activities

(46.6 m)(54.9 m)(59.6 m)(44.7 m)(151.9 m)(285.5 m)(89.8 m)(472 m)(311.4 m)70.9 m60.7 m(383.4 m)

Free Cash Flow

64 m140.5 m220.9 m78.7 m184.9 m287.8 m120.6 m268.8 m385.5 m113.5 m231.5 m348.3 m170 m

Nuance Ratios

USDY, 2018

EV/EBIT

-52.9 x

EV/CFO

32.6 x

EV/FCF

37.5 x

Financial Leverage

2.9 x
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Nuance Operating Metrics

Nuance's Patent Applications was reported to be 800 in FY, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017

New Bookings

$2.40 b$303.80 m$304.70 m$484.40 m$1.50 b$308.70 m$313.70 m$362.90 m$1.50 b$380.30 m$410.40 m$438.50 m$1.70 b

Patents Issued

3.30 k3.60 k3.65 k4.50 k

Patent Applications

1 k1 k900 800

Countries

65 77 79
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