SWCH · Switch, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $174.47M | $168.19M | $164.61M | - | $158.10M | $141.69M | $130.87M | - | $128.78M | $126.92M |
| Cost of Revenue | $126.58M | $101.35M | $94.49M | - | $97.41M | $76.99M | $71.69M | - | $74.35M | $68.20M |
| Gross Profit | $47.88M | $66.83M | $70.12M | - | $60.69M | $64.70M | $59.17M | - | $54.44M | $58.72M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $40.37M | $45.65M | $42.87M | - | $42.84M | $39.88M | $35.00M | - | $31.52M | $33.44M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $50.54M | $49.51M | $47.83M | - | $45.14M | $41.28M | $38.79M | - | $36.79M | $29.86M |
| Operating Income | $7.51M | $21.19M | $27.25M | - | $17.85M | $24.82M | $24.18M | - | $22.92M | $25.28M |
| Interest Expense | $16.70M | $14.19M | $13.20M | - | $15.17M | $10.20M | $8.76M | - | $6.55M | $6.69M |
| Income Tax | $409.0K | $1.80M | $4.24M | - | ($278.0K) | $1.91M | $2.65M | - | $1.51M | $1.38M |
| Net Income | ($257.0K) | $376.83M | $12.79M | - | ($369.0K) | $4.36M | $11.64M | - | $5.21M | $5.10M |
| EPS - Basic | $0.00 | $2.51 | $0.09 | - | $0.00 | $0.03 | $0.09 | - | $0.05 | $0.05 |
| EPS - Diluted | $0.00 | $1.51 | $0.08 | - | $0.00 | $0.03 | $0.09 | - | $0.05 | $0.05 |
Balance Sheet
| Line item | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $41.25M | $31.23M | $27.49M | $48.33M | $35.24M | $84.82M | $38.88M | $90.72M | $156.08M | $31.73M |
| Accounts Receivable | $30.54M | $20.60M | $24.77M | $18.37M | $31.54M | $31.90M | $21.13M | $21.72M | $16.48M | $16.57M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $41.22M | $35.69M | $21.81M | $55.26M | $42.24M | $30.71M | $22.63M | $14.59M | $18.13M | $18.70M |
| Current Assets | $96.93M | $66.83M | $70.24M | $83.47M | $82.39M | $130.68M | $70.83M | $122.85M | $180.77M | $55.58M |
| Total Assets | $3.30B | $3.11B | $3.00B | $2.92B | $2.79B | $2.73B | $2.16B | $2.11B | $2.09B | $1.91B |
| Current Liabilities | $261.64M | $224.67M | $134.53M | $168.59M | $159.24M | $158.06M | $109.11M | $103.60M | $115.19M | $103.23M |
| Long-term Debt | $1.89B | $1.78B | $1.71B | $1.61B | $1.53B | $1.49B | $991.61M | $991.21M | $984.82M | $832.77M |
| Total Liabilities | $2.27B | $2.12B | $2.37B | $2.30B | $2.17B | $2.10B | $1.54B | $1.50B | $1.48B | $1.30B |
| Stockholders' Equity | $770.06M | $743.22M | $338.77M | $329.64M | $309.22M | $298.78M | $288.85M | $266.46M | $242.95M | $238.89M |
| Retained Earnings | $341.90M | $350.57M | ($18.19M) | ($23.02M) | ($5.02M) | $2.73M | $5.09M | $9.0K | ($325.0K) | $98.0K |
Cash Flow
| Line item | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $56.51M | - | - | - | $64.50M | - | - | - |
| Investing Cash Flow | - | - | ($150.60M) | - | - | - | ($99.22M) | - | - | - |
| Financing Cash Flow | - | - | $73.25M | - | - | - | ($17.11M) | - | - | - |
| CapEx | - | - | $150.43M | - | - | - | $100.42M | - | - | - |
| Free Cash Flow | - | - | ($93.92M) | - | - | - | ($35.93M) | - | - | - |
Ratios
| Metric | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 27.4% | 39.7% | 42.6% | - | 38.4% | 45.7% | 45.2% | - | 42.3% | 46.3% |
| Operating margin | 4.3% | 12.6% | 16.6% | - | 11.3% | 17.5% | 18.5% | - | 17.8% | 19.9% |
| EBITDA margin | 33.3% | 42.0% | 45.6% | - | 39.8% | 46.7% | 48.1% | - | 46.4% | 43.4% |
| Net margin | -0.1% | 224.1% | 7.8% | - | -0.2% | 3.1% | 8.9% | - | 4.0% | 4.0% |
| Free cash flow margin | - | - | -57.1% | - | - | - | -27.5% | - | - | - |
| FCF / Net income | - | - | -7.34 | - | - | - | -3.09 | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 23.1% | 27.1% | 26.0% | - | 27.1% | 28.1% | 26.7% | - | 24.5% | 26.3% |
| Effective tax rate | 269.1% | 0.5% | 24.9% | - | - | 30.5% | 18.6% | - | 22.5% | 21.3% |
| Return on assets | -0.0% | 12.1% | 0.4% | - | -0.0% | 0.2% | 0.5% | - | 0.2% | 0.3% |
| Return on equity | -0.0% | 50.7% | 3.8% | - | -0.1% | 1.5% | 4.0% | - | 2.1% | 2.1% |
| Return on invested capital | 0.1% | 0.8% | 1.0% | - | 0.8% | 1.0% | 1.5% | - | 1.4% | 1.9% |
| Liquidity | ||||||||||
| Current ratio | 0.37 | 0.30 | 0.52 | 0.50 | 0.52 | 0.83 | 0.65 | 1.19 | 1.57 | 0.54 |
| Quick ratio | 0.37 | 0.30 | 0.52 | 0.50 | 0.52 | 0.83 | 0.65 | 1.19 | 1.57 | 0.54 |
| Cash ratio | 0.16 | 0.14 | 0.20 | 0.29 | 0.22 | 0.54 | 0.36 | 0.88 | 1.36 | 0.31 |
| Leverage | ||||||||||
| Debt / Equity | 2.45 | 2.40 | 5.05 | 4.89 | 4.94 | 4.98 | 3.43 | 3.72 | 4.05 | 3.49 |
| Debt / Assets | 0.57 | 0.57 | 0.57 | 0.55 | 0.55 | 0.55 | 0.46 | 0.47 | 0.47 | 0.44 |
| Debt / EBITDA | 32.56 | 25.19 | 22.79 | - | 24.24 | 22.50 | 15.75 | - | 16.49 | 15.10 |
| Interest coverage | 0.4x | 1.5x | 2.1x | - | 1.2x | 2.4x | 2.8x | - | 3.5x | 3.8x |
| Equity multiplier | 4.29 | 4.18 | 8.85 | 8.85 | 9.02 | 9.13 | 7.47 | 7.94 | 8.58 | 7.98 |
| Liabilities / Assets | 0.69 | 0.68 | 0.79 | 0.79 | 0.78 | 0.77 | 0.71 | 0.71 | 0.71 | 0.68 |
| Efficiency | ||||||||||
| Asset turnover | 0.05 | 0.05 | 0.05 | - | 0.06 | 0.05 | 0.06 | - | 0.06 | 0.07 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 64d | 45d | 55d | - | 73d | 82d | 59d | - | 47d | 48d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 119d | 129d | 84d | - | 158d | 146d | 115d | - | 89d | 100d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 10.3% | 18.7% | 25.8% | - | 22.8% | 11.6% | 2.2% | - | 9.6% | 13.7% |
| Revenue CAGR (3y) | 14.1% | 14.7% | 15.4% | - | 15.4% | 11.5% | 10.2% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -21.1% | 3.3% | 18.5% | - | 11.5% | 10.2% | -3.1% | - | -1.8% | 9.4% |
| Operating income growth (YoY) | -57.9% | -14.6% | 12.7% | - | -22.1% | -1.8% | 15.4% | - | 26.4% | 22.4% |
| Net income growth (YoY) | 30.4% | 8541.0% | 9.9% | - | - | -14.4% | - | - | 151.0% | 332.7% |
| EPS growth (YoY) | - | 4933.3% | -11.1% | - | - | -40.0% | - | - | 150.0% | 400.0% |
| EPS CAGR (3y) | - | 432.5% | 100.0% | - | - | 14.5% | 65.1% | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | -161.4% | - | - | - | -95.9% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 149.0% | 148.8% | 17.3% | 23.7% | 27.3% | 25.1% | 33.9% | 28.4% | 15.3% | 20.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$592.04M totalColocation Services$476.22M · 80.4%
Connectivity Services$105.78M · 17.9%
Other Services$10.04M · 1.7%
Peer comparison
Same SIC group: Services-Computer Programming, Data Processing, Etc.
Comparing Switch against the 5 most active filers in the same SIC group.