SWI · Solarwinds Corp - 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 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $796.89M | $758.74M | $719.37M | $718.63M | $1.02B | $932.52M |
| Cost of Revenue | $83.31M | $87.00M | $95.98M | $227.02M | $274.62M | $255.45M |
| Gross Profit | $713.59M | $671.74M | $623.38M | $491.62M | $744.63M | $677.07M |
| R&D | $108.60M | $100.17M | $92.33M | $101.81M | $126.22M | $110.36M |
| SG&A | $125.85M | $123.72M | $149.46M | $130.98M | $137.54M | $97.53M |
| Total Operating Expenses | $505.17M | $521.36M | $1.44B | $524.49M | $637.18M | $541.90M |
| D&A | $74.35M | $82.20M | $94.98M | $230.13M | $277.86M | $263.24M |
| Operating Income | $208.42M | $150.37M | ($819.58M) | ($32.87M) | $107.44M | $135.17M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | ($8.10M) | $43.25M | $21.39M | ($32.47M) | ($128.16M) | $8.86M |
| Net Income | $111.90M | ($9.11M) | ($929.41M) | ($51.41M) | $158.47M | $18.64M |
| EPS - Basic | $0.66 | ($0.06) | ($5.78) | ($0.33) | $0.51 | $0.06 |
| EPS - Diluted | $0.64 | ($0.06) | ($5.78) | ($0.33) | $0.50 | $0.06 |
Balance Sheet
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $251.85M | $284.69M | $121.74M | $732.12M | $370.50M | $173.37M |
| Accounts Receivable | $113.40M | $103.45M | $100.20M | $95.09M | $114.30M | $121.93M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $7.45M | $9.70M | $14.04M | $7.33M | $17.93M | $13.80M |
| Current Assets | $403.51M | $421.33M | $307.39M | $858.84M | $512.73M | $319.90M |
| Total Assets | $3.17B | $3.25B | $3.20B | $4.79B | $5.71B | $5.31B |
| Current Liabilities | $475.26M | $468.81M | $456.63M | $413.88M | $491.20M | $423.01M |
| Long-term Debt | $1.19B | $1.19B | $1.19B | $1.87B | $1.88B | $1.89B |
| Total Liabilities | $1.77B | $1.81B | $1.83B | $2.50B | $2.70B | $2.66B |
| Stockholders' Equity | $1.40B | $1.44B | $1.37B | $2.29B | $3.01B | $2.65B |
| Retained Earnings | ($1.11B) | ($1.22B) | ($1.21B) | ($280.35M) | ($228.94M) | ($387.42M) |
Cash Flow
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $188.30M | $183.47M | $154.51M | $273.45M | $389.09M | $299.91M |
| Investing Cash Flow | ($23.06M) | $4.44M | ($54.31M) | ($163.99M) | ($180.13M) | ($482.45M) |
| Financing Cash Flow | ($197.01M) | ($24.65M) | ($709.20M) | ($25.56M) | ($25.56M) | ($25.62M) |
| CapEx | $5.61M | $4.35M | $7.46M | $9.25M | $28.80M | $17.19M |
| Free Cash Flow | $182.69M | $179.11M | $147.04M | $264.19M | $360.29M | $282.72M |
Ratios
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 89.5% | 88.5% | 86.7% | 68.4% | 73.1% | 72.6% |
| Operating margin | 26.2% | 19.8% | -113.9% | -4.6% | 10.5% | 14.5% |
| EBITDA margin | 35.5% | 30.7% | -100.7% | 27.4% | 37.8% | 42.7% |
| Net margin | 14.0% | -1.2% | -129.2% | -7.2% | 15.5% | 2.0% |
| Free cash flow margin | 22.9% | 23.6% | 20.4% | 36.8% | 35.3% | 30.3% |
| FCF / Net income | 1.63 | -19.66 | -0.16 | -5.14 | 2.27 | 15.17 |
| R&D / Revenue | 13.6% | 13.2% | 12.8% | 14.2% | 12.4% | 11.8% |
| SG&A / Revenue | 15.8% | 16.3% | 20.8% | 18.2% | 13.5% | 10.5% |
| Effective tax rate | -7.8% | 126.7% | - | - | -422.7% | 32.2% |
| Return on assets | 3.5% | -0.3% | -29.0% | -1.1% | 2.8% | 0.4% |
| Return on equity | 8.0% | -0.6% | -67.9% | -2.2% | 5.3% | 0.7% |
| Return on invested capital | 8.0% | 2.9% | -25.3% | -0.6% | 2.2% | 2.0% |
| Liquidity | ||||||
| Current ratio | 0.85 | 0.90 | 0.67 | 2.08 | 1.04 | 0.76 |
| Quick ratio | 0.85 | 0.90 | 0.67 | 2.08 | 1.04 | 0.76 |
| Cash ratio | 0.53 | 0.61 | 0.27 | 1.77 | 0.75 | 0.41 |
| Leverage | ||||||
| Debt / Equity | 0.85 | 0.83 | 0.87 | 0.82 | 0.63 | 0.71 |
| Debt / Assets | 0.38 | 0.37 | 0.37 | 0.39 | 0.33 | 0.36 |
| Debt / EBITDA | 4.22 | 5.12 | - | 9.48 | 4.89 | 4.75 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 2.26 | 2.25 | 2.34 | 2.09 | 1.90 | 2.00 |
| Liabilities / Assets | 0.56 | 0.56 | 0.57 | 0.52 | 0.47 | 0.50 |
| Efficiency | ||||||
| Asset turnover | 0.25 | 0.23 | 0.22 | 0.15 | 0.18 | 0.18 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 52d | 50d | 51d | 48d | 41d | 48d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 33d | 41d | 53d | 12d | 24d | 20d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 5.0% | 5.5% | 0.1% | -29.5% | 9.3% | 28.1% |
| Revenue CAGR (3y) | 3.5% | -9.4% | -8.3% | -0.4% | - | - |
| Revenue CAGR (5y) | -3.1% | 0.8% | - | - | - | - |
| Gross profit growth (YoY) | 6.2% | 7.8% | 26.8% | -34.0% | 10.0% | 36.4% |
| Operating income growth (YoY) | 38.6% | - | -2393.3% | - | -20.5% | 94.1% |
| Net income growth (YoY) | - | 99.0% | -1707.9% | - | 750.1% | - |
| EPS growth (YoY) | - | 99.0% | -1651.5% | - | 733.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | 60.5% | - | - | - | - | - |
| FCF growth (YoY) | 2.0% | 21.8% | -44.3% | -26.7% | 27.4% | 30.4% |
| FCF CAGR (5y) | -8.4% | -3.7% | - | - | - | - |
| Book value growth (YoY) | -2.9% | 5.3% | -40.1% | -24.0% | 13.6% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-12-31.
Product / service
$1.54B totalSubscription And Maintenance$745.10M · 48.3%
Maintenance$440.59M · 28.6%
Subscription$304.51M · 19.7%
License$51.79M · 3.4%
Geographic
$796.89M totalUS$516.56M · 64.8%
Non Us$280.34M · 35.2%
Stability scores
Altman Z′
FY 2024 · bankruptcy risk
0.48
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2024 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing SolarWinds Corp against the 5 most active filers in the same SIC group.