Zayo stock price, funding rounds, valuation and financials

Zayo has raised $471 m in total funding. Zayo annual revenue was $2.58 b in FY 2019

$653.7 M

Zayo Revenue Q2, 2020

Zayo Gross profit (Q2, 2020)421.5 M

Zayo Gross profit margin (Q2, 2020), %64.5%

Zayo Net income (Q2, 2020)61.4 M

Zayo EBIT (Q2, 2020)140.5 M

Zayo Cash, 31-Dec-2019181.3 M

Zayo revenue was $2.58 b in FY, 2019 which is a 1% year over year decrease from the previous period.

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Founding Date	2007
Zayo total Funding	$471 m
Zayo latest funding size	$128 m
Time since last funding	12 years ago
Zayo investors	Battery Ventures, Morgan Stanley, Greenspring Associates, Oak Investment Partners, Columbia Capital, Centennial Ventures, CIT Group, CoBank, Hercules Capital, M/C Partners

Zayo's latest funding round in March 2009 was reported to be $128 m. In total, Zayo has raised $471 m

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Zayo revenue breakdown by business segment: 73.6% from Zayo Networks, 14.8% from Allstream, 10.5% from zColo and 1.2% from Other

USD	FY, 2016	FY, 2017	FY, 2018	FY, 2019
Revenue	1.7b	2.2b	2.6b	2.6b
Revenue growth, %	28%	28%	18%	(1%)
Cost of goods sold	578.7m	782.9m	941.9m	915.3m
Gross profit	1.1b	1.4b	1.7b	1.7b
Gross profit Margin, %	66%	64%	64%	64%
General and administrative expense	386.4m	436.2m	489.8m	509.0m
Operating expense total	902.7m	1.0b	1.2b	1.1b
Depreciation and amortization	516.3m	606.9m	747.4m	633.4m
EBIT	240.3m	373.8m	424.9m	520.3m
EBIT margin, %	14%	17%	16%	20%
Interest expense	220.1m	269.7m	296.9m	345.0m
Pre tax profit	(67.7m)	104.1m	128.0m	175.3m
Income tax expense	8.5m	18.4m	26.1m	25.3m
Net Income	(76.2m)	85.7m	101.9m	150.0m
EPS	(0.3)	0.4	0.4	0.6

USD	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q3, 2018	Q1, 2019	Q2, 2018	Q3, 2019	Q1, 2020	Q2, 2020
Revenue	504.9m	506.7m	550.2m	643.5m	653.5m	649.4m	641.1m	639.1m	647.2m	638.6m	653.7m
Cost of goods sold	173.8m	179.9m	195.0m	235.7m	232.0m	234.9m	228.4m	222.0m	226.3m	231.0m	232.2m
Gross profit	331.1m	326.8m	355.2m	407.8m	421.5m	414.5m	412.7m	417.1m	420.9m	407.6m	421.5m
Gross profit Margin, %	66%	64%	65%	63%	64%	64%	64%	65%	65%	64%	64%
General and administrative expense	105.6m	104.7m	108.8m	128.3m	121.6m	118.0m	122.1m	125.5m	128.1m	122.6m	123.1m
Operating expense total	244.1m	236.1m	264.5m	312.4m	317.5m	309.2m	289.9m	272.4m	289.3m	278.7m	281.0m
Depreciation and amortization	138.5m	131.4m	155.7m	184.1m	195.9m	191.2m	167.8m	146.9m	161.2m	156.1m	157.9m
EBIT	87.0m	90.7m	90.7m	95.4m	104.0m	105.3m	122.8m	144.7m	131.6m	128.9m	140.5m
EBIT margin, %	17%	18%	16%	15%	16%	16%	19%	23%	20%	20%	21%
Interest expense	53.3m	53.7m	63.1m	66.8m	69.6m	61.0m	80.2m	84.0m	78.9m	84.7m	82.0m
Pre tax profit	22.3m	20.0m	27.6m	28.6m	34.4m	44.3m	42.6m	52.7m	52.7m	31.9m	86.5m
Income tax expense	6.6m	200.0k	600.0k	5.4m	22.9m	20.9m	20.5m	22.5m	18.0m	14.0m	25.1m
Net Income	15.7m	19.8m	27.0m	23.2m	11.5m	23.4m	22.1m	30.2m	34.7m	17.9m	61.4m
EPS	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.1	0.3

USD	FY, 2016	FY, 2017	FY, 2018	FY, 2019
Cash	170.7m	220.7m	256.7m	186.1m
Accounts Receivable	148.4m	191.6m	235.6m	177.0m
Prepaid Expenses	68.8m	68.3m	74.1m	65.3m
Current Assets	397.1m	514.6m	630.8m	485.2m
PP&E	4.1b	5.0b	5.4b	5.8b
Goodwill	1.2b	1.8b	1.7b	1.7b
Total Assets	6.7b	8.7b	9.2b	9.3b
Accounts Payable	97.0m	72.4m	45.9m	73.7m
Short-term debt	5.8m	13.0m	16.9m	15.0m
Current Liabilities	486.5m	620.3m	618.2m	643.5m
Long-term debt	4.1b	5.6b	5.8b	6.0b
Non-Current Liabilities	5.0b
Total Debt	4.1b	5.6b	5.8b	6.0b
Total Liabilities	5.5b	7.3b	7.7b	8.0b
Common Stock	200.0k	200.0k	200.0k	200.0k
Additional Paid-in Capital	1.8b	1.9b	1.9b	1.6b
Retained Earnings	(563.1m)	(479.1m)	(377.2m)	(216.0m)
Total Equity	1.2b	1.4b	1.5b	1.3b
Debt to Equity Ratio	3.4 x	4 x	3.9 x	4.5 x
Debt to Assets Ratio	0.6 x	0.6 x	0.6 x	0.6 x
Financial Leverage	5.5 x	6.2 x	6.2 x	7 x

USD	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q3, 2018	Q1, 2019	Q2, 2018	Q3, 2019	Q1, 2020	Q2, 2020
Cash	193.0m	144.0m	198.4m	291.2m	280.8m	329.3m	353.9m	176.4m	179.7m	254.6m	181.3m
Accounts Receivable	148.4m	156.7m	189.7m	225.7m	233.8m	223.1m	227.2m	202.8m	216.9m	151.9m	124.5m
Prepaid Expenses	62.7m	52.9m	72.4m	26.2m	67.4m	79.1m	68.2m	74.7m	71.7m	68.1m	66.2m
Current Assets	411.4m	362.2m	497.2m	610.2m	606.4m	697.3m	680.9m	480.0m	511.1m	531.6m	430.7m
PP&E	4.2b	4.3b	4.8b	5.1b	5.1b	5.4b	5.5b	5.6b	5.7b	5.9b	6.0b
Goodwill	1.2b	1.2b	1.8b	1.8b	1.7b	1.7b	1.7b	1.7b	1.7b	1.7b	1.7b
Total Assets	6.8b	6.9b	8.5b	8.9b	8.9b	9.2b	9.3b	9.1b	9.3b	9.9b	10.0b
Accounts Payable	56.1m	39.9m	50.2m	65.2m	42.7m	63.6m	41.9m	48.2m	47.5m	31.9m	24.4m
Short-term debt	5.9m	7.8m	32.8m	12.8m	13.4m	15.0m	15.5m	21.0m	14.2m	266.7m	189.7m
Current Liabilities	508.8m	457.6m	588.6m	671.5m	611.6m	627.0m	625.9m	562.5m	616.1m	871.9m	790.6m
Long-term debt	4.1b	4.2b	5.6b	5.6b	5.6b	5.8b	5.8b	6.1b	6.0b	6.3b	6.2b
Total Debt	4.1b	4.2b	5.6b	5.6b	5.6b	5.7b	5.8b	6.1b	6.0b	6.5b	6.4b
Total Liabilities	5.6b	5.6b	7.2b	7.4b	7.4b	7.7b	7.8b	8.0b	8.0b	8.5b	8.5b
Common Stock	200.0k	200.0k	200.0k	200.0k	200.0k	200.0k	200.0k	200.0k	200.0k	200.0k	200.0k
Additional Paid-in Capital	1.8b	1.8b	1.9b	1.9b	1.9b	2.0b	1.9b	1.5b	1.6b	1.6b	1.6b
Retained Earnings	(549.1m)	(529.3m)	(502.3m)	(455.9m)	(444.4m)	(421.0m)	(343.9m)	(313.7m)	(279.0m)	(198.1m)	(136.7m)
Total Equity	1.3b	1.3b	1.3b	1.5b	1.5b	1.5b	1.6b	1.2b	1.2b	1.4b	1.5b
Debt to Equity Ratio	3.3 x	3.2 x	4.2 x	3.8 x	3.7 x	3.7 x	3.8 x	5.2 x	4.9 x	4.8 x	4.4 x
Debt to Assets Ratio	0.6 x	0.6 x	0.7 x	0.6 x	0.6 x	0.6 x	0.6 x	0.7 x	0.7 x	0.7 x	0.6 x
Financial Leverage	5.4 x	5.3 x	6.4 x	6 x	5.9 x	6 x	6 x	7.7 x	7.4 x	7.2 x	6.8 x

USD	FY, 2016	FY, 2017	FY, 2018	FY, 2019
Net Income	(76.2m)	85.7m	101.9m	150.0m
Depreciation and Amortization	516.3m	606.9m	747.4m	633.4m
Accounts Receivable	1.9m	(7.2m)	(48.1m)	44.0m
Accounts Payable	(36.0m)	5.2m	7.3m	(14.1m)
Cash From Operating Activities	714.0m	909.8m	971.1m	951.1m
Purchases of PP&E	(704.1m)	(835.5m)	(789.9m)	(786.9m)
Cash From Investing Activities	(1.1b)	(2.3b)	(966.8m)	(747.9m)
Long-term Borrowings	(539.9m)	(2.4b)	(324.1m)	(141.2m)
Cash From Financing Activities	291.7m	1.4b	35.6m	(275.2m)
Net Change in Cash	(137.9m)	50.0m	36.0m	(74.0m)
Interest Paid	242.5m	195.6m	280.2m	315.2m
Income Taxes Paid	14.0m	13.1m	20.3m	7.0m

USD	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018	Q3, 2018	Q1, 2019	Q2, 2019	Q3, 2019	Q1, 2020	Q2, 2020
Net Income	15.7m	35.5m	62.5m	23.2m	34.7m	58.1m	22.1m	52.3m	87.0m	17.9m	79.3m
Depreciation and Amortization	138.5m	269.9m	425.6m	184.1m	380.0m	571.2m	167.8m	314.7m	475.9m	156.1m	314.0m
Accounts Receivable	(1.9m)	(16.5m)	(6.0m)	(32.0m)	(41.5m)	(33.7m)	4.5m	22.9m	5.5m	20.9m	47.9m
Accounts Payable	5.6m	(33.0m)	9.1m	53.4m	29.2m	23.7m	9.0m	(26.9m)	19.2m	27.3m	1.5m
Cash From Operating Activities	232.8m	402.5m	664.9m	268.8m	456.5m	719.3m	241.8m	472.4m	726.0m	311.8m	568.2m
Purchases of PP&E	(208.3m)	(421.9m)	(630.2m)	(193.4m)	(386.8m)	(581.9m)	(182.5m)	(384.7m)	(591.1m)	(217.1m)	(471.7m)
Cash From Investing Activities	(206.8m)	(421.7m)	(2.1b)	(193.4m)	(387.0m)	(737.4m)	(143.5m)	(345.7m)	(552.1m)	(217.1m)	(471.7m)
Long-term Borrowings	(1.0m)	(2.0m)	(1.8b)	(313.6m)	(317.2m)	(320.8m)	(3.2m)	(46.5m)	(114.4m)	(23.4m)	(101.6m)
Cash From Financing Activities	(1.7m)	(2.7m)	1.4b	(5.5m)	(10.4m)	134.0m	(6.7m)	(203.6m)	(247.7m)	(23.4m)	(101.6m)
Net Change in Cash	22.3m	(26.7m)	27.7m	70.5m	60.1m	108.6m	93.8m	(83.7m)	(80.4m)	68.6m	(3.8m)
Interest Paid	13.2m	97.3m	109.2m	54.3m	136.3m	195.1m	63.4m	153.1m	222.8m	67.2m	155.9m
Income Taxes Paid	1.9m	6.0m	9.8m	1.4m	3.1m	16.9m	2.0m	2.7m	3.5m	3.0m	4.8m