$25 B

RHT Mkt cap, 16-Aug-2018

$813.5 M

Red Hat Revenue Q1, 2019
Red Hat Gross profit (Q1, 2019)690.8 M
Red Hat Gross profit margin (Q1, 2019), %84.9%
Red Hat Net income (Q1, 2019)113.2 M
Red Hat EBIT (Q1, 2019)112.2 M

Red Hat Revenue Breakdown

Embed Graph

Red Hat revenue breakdown by business segment: 11.4% from Training and services and 88.6% from Subscription

Red Hat Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

1.3 b1.8 b2.1 b2.4 b2.9 b

Revenue growth, %

1%34%15%18%

Cost of goods sold

232.6 m273.2 m309.6 m431.8 m

Gross profit

1.1 b1.5 b1.7 b2.5 b

Gross profit Margin, %

83%85%85%85%

Sales and marketing expense

597.9 m728.4 m849 m1 b1.2 b

R&D expense

317.3 m367.9 m413.3 m480.7 m578.3 m

General and administrative expense

152.4 m170.1 m192.3 m208.5 m239.3 m

Operating expense total

1.1 b1.3 b1.5 b1.7 b2 b

EBIT

232.3 m250 m288 m332.2 m472.4 m

EBIT margin, %

17%14%14%14%16%

Interest expense

160 k9.4 m23.1 m23.8 m24.6 m

Interest income

6.6 m8.3 m11.7 m13.9 m18.5 m

Pre tax profit

239.5 m255.5 m274.9 m320.2 m474.7 m

Income tax expense

61.3 m75.3 m75.5 m66.5 m215.9 m

Net Income

178.3 m180.2 m199.4 m253.7 m258.8 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Revenue

445.9 m455.9 m481 m504.1 m523.6 m567.9 m599.8 m615.3 m676.8 m723.4 m813.5 m

Cost of goods sold

106.7 m122.7 m

Gross profit

616.6 m690.8 m

Gross profit Margin, %

85%85%

Sales and marketing expense

144.6 m153.5 m176.8 m174.5 m187.2 m198.9 m205.1 m215.8 m243.2 m253.3 m267.1 m296.5 m278.5 m883.4 m348.8 m

R&D expense

78.3 m82.5 m89.9 m95.3 m90.6 m97.4 m102.5 m104.9 m115 m121.3 m122.5 m137.2 m141.8 m424.6 m166.5 m

General and administrative expense

38.2 m39.3 m41.6 m44.7 m39.5 m42.4 m44.1 m53 m50.2 m55.7 m54.5 m54.9 m61.7 m180.4 m63.4 m

Operating expense total

263.3 m275.3 m308.3 m314.5 m317.3 m338.7 m351.7 m373.7 m408.5 m430.3 m444 m488.5 m482.1 m1.5 b578.7 m

EBIT

55.6 m60.8 m51 m64.2 m67.2 m70.9 m76.5 m68.9 m75.4 m81.9 m80.8 m87.6 m134.6 m340.6 m112.2 m

EBIT margin, %

14%15%15%15%13%13%14%13%13%19%14%

Interest expense

3.4 m5.7 m5.7 m5.8 m5.9 m5.9 m6 m6.1 m6.1 m18.3 m6.3 m

Interest income

1.5 m1.6 m1.8 m2 m2.2 m2.7 m2.9 m2.9 m3.4 m3.4 m3.3 m4 m4.6 m13.5 m7.8 m

Pre tax profit

58.3 m61.9 m53.2 m65.9 m67.5 m67.7 m72.4 m66 m72.4 m79.4 m76.7 m84.9 m131.8 m332.7 m111.5 m

Income tax expense

17.5 m9.9 m15.4 m19.1 m19.6 m19.6 m21 m19.1 m11.2 m20.7 m8.8 m11.7 m35 m61.3 m(1.7 m)

Net Income

40.8 m52 m37.7 m46.8 m47.9 m48.1 m51.4 m46.8 m61.2 m58.8 m67.9 m73.2 m96.6 m271.4 m113.2 m

Red Hat Balance Sheet

Annual

USDY, 2014Y, 2015Y, 2016FY, 2017FY, 2018

Cash

646.7 m1 b927.8 m1.1 b

Accounts Receivable

183 m

Inventories

Current Assets

1.6 b2 b1.9 b2.3 b3.1 b

Goodwill

687.4 m927.1 m1 b1 b1.3 b

Total Assets

3.1 b3.8 b4.2 b4.5 b5.5 b

Accounts Payable

179.5 m237.7 m284.8 m377 m427.1 m

Short-term debt

Current Liabilities

1.1 b1.3 b1.6 b1.9 b2.3 b

Long-term debt

Total Debt

Additional Paid-in Capital

1.9 b2 b2.2 b2.3 b2.4 b

Retained Earnings

720.2 m900.4 m1.1 b1.4 b1.6 b

Total Equity

1.6 b1.3 b1.3 b1.2 b1.5 b

Financial Leverage

2 x3 x3.1 x3.6 x3.7 x

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Cash

596.8 m642.1 m564.1 m585.4 m884 m990.9 m991.6 m942 m1 b970.6 m916.7 m1.2 b1.2 b1.3 b

Current Assets

1.3 b1.5 b1.3 b1.3 b1.7 b1.7 b1.7 b1.8 b1.9 b1.8 b1.9 b2.3 b2.3 b2.5 b2.9 b

Goodwill

690.3 m687.5 m817.3 m870.1 m939.6 m924.7 m928.2 m1 b1 b1.1 b1 b1 b1.1 b1.1 b1.3 b

Total Assets

2.7 b2.9 b3.1 b3.1 b3.5 b3.8 b3.8 b3.9 b4.1 b4.1 b4.1 b4.5 b4.6 b4.8 b5.2 b

Accounts Payable

178.9 m190.9 m185.9 m211.6 m229.3 m177 m212.8 m229.1 m251.4 m273.6 m270.8 m303.7 m323.2 m341.6 m359.7 m

Current Liabilities

975.9 m1 b1.1 b1.1 b1.2 b1.2 b1.3 b1.3 b1.5 b1.5 b1.5 b1.8 b1.8 b1.8 b2.3 b

Additional Paid-in Capital

1.8 b1.9 b1.9 b1.9 b1.9 b2.1 b2.1 b2.1 b2.2 b2.2 b2.2 b2.3 b2.3 b2.4 b2.4 b

Retained Earnings

623.1 m675.1 m757.9 m804.7 m852.7 m948.5 m999.9 m1 b1.2 b1.2 b1.3 b1.4 b1.5 b1.6 b1.7 b

Total Equity

1.4 b1.5 b1.5 b1.5 b1.2 b1.3 b1.4 b1.3 b1.3 b1.3 b1.3 b1.3 b1.4 b1.4 b1.4 b

Financial Leverage

1.9 x1.9 x2 x2 x2.9 x2.8 x2.8 x2.9 x3 x3.1 x3.2 x3.5 x3.3 x3.3 x3.6 x

Red Hat Cash Flow

Annual

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

Net Income

178.3 m180.2 m199.4 m253.7 m

Depreciation and Amortization

74.4 m76.3 m76.1 m85.3 m

Accounts Receivable

(62 m)(120 m)(48 m)(119.1 m)

Inventories

Accounts Payable

28.4 m71 m62.4 m71 m

Cash From Operating Activities

540.6 m622.8 m716.1 m783.7 m

Purchases of PP&E

(79.6 m)(45.6 m)(41.6 m)(69.1 m)

Cash From Investing Activities

(108.3 m)(325 m)(512.1 m)(110.1 m)

Cash From Financing Activities

(263.1 m)148.2 m(307.6 m)(504.2 m)

Interest Paid

43 k52 k2 m2.1 m

Income Taxes Paid

34.7 m33.7 m63.4 m56.7 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

40.8 m52 m37.7 m46.8 m47.9 m48.1 m51.4 m46.8 m61.2 m58.8 m67.9 m73.2 m96.9 m271.4 m113.2 m

Depreciation and Amortization

18.4 m19 m18.9 m19.5 m18.7 m18.5 m18.5 m19.9 m20.7 m21.2 m21.9 m21.8 m21.1 m71.5 m27.1 m

Accounts Receivable

(6.3 m)(75.3 m)96.6 m(18.3 m)(75.9 m)179.4 m(17.9 m)(97 m)190.3 m(30.7 m)(73.1 m)208.8 m17 m111.9 m299.4 m

Accounts Payable

38.9 m12.3 m2.7 m27.3 m26.3 m(52.3 m)34.4 m21.9 m(38.1 m)18.6 m(10.8 m)(55.3 m)2 m(17.8 m)(28.6 m)

Cash From Operating Activities

118.9 m95.2 m164.7 m107.7 m133 m208.8 m120.3 m139.6 m232.3 m96.8 m136.4 m257.9 m142.9 m561.1 m346.2 m

Purchases of PP&E

(21.8 m)(13.3 m)(8.6 m)(14.3 m)(12.2 m)(10.7 m)(10.3 m)(8.5 m)(17.7 m)(15.5 m)(17.2 m)(25.9 m)(25.8 m)(68.3 m)(13 m)

Cash From Investing Activities

(97.6 m)2.3 m(156.4 m)6.8 m(140.5 m)(240.3 m)(41.2 m)(80.5 m)(38.1 m)(33.2 m)(24.1 m)(50.8 m)(122 m)(83.1 m)(36.3 m)

Cash From Financing Activities

(20.9 m)(55 m)(93.1 m)(84.4 m)328.9 m(17 m)(74.9 m)(97.2 m)(96.1 m)(133.1 m)(143.3 m)(88.7 m)(71 m)(286.6 m)(237.2 m)

Red Hat Ratios

USDY, 2018

Financial Leverage

3.6 x
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Red Hat Operating Metrics

FY, 2015FY, 2016FY, 2017Jan, 2018

Bookings

$1.86 b$2.13 b$2.75 b

Countries

35

Locations

90
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Red Hat Human Capital

Red Hat's employees are reported to be approximately 22% female and 78% male.

Ethnicity

Y, 2014
Asian10 %
White82 %
Other8 %

Gender

Y, 2014
Female22 %
Male78 %
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