Company name:

Switch Inc

  • IPO SHARE PRICE:
    $17.00
  • IPO DATE:
    06 October 2017
  • TICKER:
    SWCH
  • MAIN STOCK EXCHANGE:
    NYSE
  • CURRENT HQ LOCATION:
    7135 S Decatur Boulevard Las Vegas NV 89118
  • FISCAL YEAR END:
    December 31
  • INCORPORATION JURISDICTION:
    NV
  • ORGANIZED AS THE FOLLOWING LEGAL TYPE:
    Corporation
  • Investor Relations Webpage:
    Coming soon!
  • TAX RATE:
    USA federal corporate nominal income tax rate is 21%

Short Description

Switch Inc

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Balance Sheet

Quarterly Annual
(USD in thousand)
4.3%
Selected Year:
31-Dec
2020
Current Assets
Most valuable part of Current Assets is Cash and Marketable Securities which should be watched carefully; at the same time high and growing level of Accounts Receivables is very dangerous sign
5.8%
4.3% —

Cash and cash equivalents

1.0% —

Accounts Receivable

0.4% —

Prepaid expenses

Liquidity
Selected Year:
The most liquid asset, however, most companies don't keep much of it and invest excess cash into marketable securities such as Government bonds - in the US - Treasuries
Cash and cash equivalents
$45,679
 $264,666 $81,560 $24,721 $90,719
Accounts Receivable
$45,679
 16,386 17,654 23,365 21,723
Prepaid expenses
$45,679
 5,037 6,781 7,137 8,171
Other short-term assets
$45,679
 2,101 2,332 2,235 -
Total current assets
$45,679
 $288,190 $108,327 $59,040 $122,848
82.2% 9.6%
Selected Year:
31-Dec
2020
Non-Current Assets
Non-current assets characterize company's business: high Property, Plant, and Equipment means that company is in capital-intensive industry which typically is very cyclical (earnings fluctuate a lot); watch out for high level of Goodwill and other non-intangibles which is bad sign as they typically worth very low relative to their value shown on the balance sheet
94.2%
82.2% —

Property and equipment net

9.6% —

Deferred tax assets

2.3% —

Other assets non-current

0.1% —

Long-term deposits
Selected Year:
Long-term deposits
45,679
 3,842 3,333 3,429 2,626
Long-term passive investments
45,679
 - - - -
Property and equipment net
45,679
 1,133,572 1,302,770 1,551,117 1,737,415
Deferred tax assets
-
 981 28,550 114,372 203,201
Other assets non-current
-
 - - 45,785 48,366
Other non-current assets
45,679
 8,174 17,050 45,785 -
Total non-current assets
45,679
 1,146,569 1,351,703 1,714,703 1,991,608
Total assets
45,679
 $1,434,759 $1,460,030 $1,773,743 $2,114,456
13.2% 46.9% 12.6% 16.3%
Selected Year:
31-Dec
2020
Current Liabilities
Current Liabilities represent company's short-term dues to others. The most important part to watch for is short-term debt and accounts payables
4.9%
1.3% —

Accrued construction payables

0.7% —

Current portion of deferred revenue

0.7% —

Accounts payable

0.6% —

Customer deposits

0.5% —

Accrued expenses and other current liabilities

0.4% —

Interest rate swap liability

0.3% —

Accrued interest

0.2% —

Accrued employee compensation and benefits

0.2% —

Current portion of Operating leases
Selected Year:
Accounts payable
$45,679
 $18,934 $20,501 $19,477 $14,588
Accrued construction payables
$45,679
 7,052 12,729 37,269 27,162
Accrued employee compensation and benefits
$45,679
 5,211 5,258 5,828 4,884
Accrued expenses
$45,679
 6,469 9,778 11,254 -
Accrued Michigan building and land purchase
$45,679
 - - - -
Accrued impact fee expense
$45,679
 - - - -
Accrued interest
-
 - - 467 7,132
Accrued expenses and other current liabilities
-
 - - 10,799 9,686
Current portion of deferred revenue
$45,679
 11,482 10,800 14,991 14,870
Current maturities of long-term debt
$45,679
 6,000 6,000 6,000 -
Current portion of Capital leases
$45,679
 2,309 - - -
Current portion of Operating leases
-
 - - 4,805 3,512
Current portion of Finance leases
-
 - - 12 -
Interest rate swap liability
-
 - - 3,464 9,418
Customer deposits
$45,679
 8,634 9,962 10,830 12,348
Total current liabilities
$45,679
 $66,091 $75,028 $113,930 $103,600
Selected Year:
31-Dec
2020
Non-Current Liabilities
The most critical items are revolving credit facility, term loans, and then notes - any forms of debt; in addition, pay attention to items like pension liabilites and leases- hidden debt
66.2%
46.9% —

Long-term debt

13.2% —

Liability related to tax receivable agreement

2.7% —

Finance leases

1.2% —

Operating leases

1.1% —

Deferred revenue

1.1% —

Other non-current liabilities
Selected Year:
Accrued interest capital lease obligations
$45,679
 - - - -
Deferred revenue
$45,679
 19,382 22,260 27,852 23,862
Liability related to tax receivable agreement
-
 - 52,535 162,076 278,865
Long-term debt
$45,679
 585,760 580,566 745,372 991,213
Capital leases
$45,679
 19,466 - - -
Operating leases
-
 - - 26,142 25,536
Finance leases
-
 - 19,466 57,614 57,516
Other non-current liabilities
-
 1,927 1,823 13,112 22,897
Total long-term liabilities
$45,679
 $626,535 $676,650 $1,032,168 $1,399,889
Total Liabilities
$45,679
 $692,626 $751,678 $1,146,098 $1,503,489
Selected Year:
31-Dec
2020
Equity
It's residue that is owned by shareholders after satisfying all of the liabilities with all of the assets; the larger the amount, the better the business is
28.9%
16.3% —

Non-controlling interest

12.6% —

Additional paid-in capital

0.0% —

Common stock Class B

0.0% —

Common stock Class A

0.0% —

Accumulated other comprehensive income

0.0% —

Retained earnings
Selected Year:
Non-controlling interest
$45,679
 $633,239 $565,142 $420,194 $344,509
Preferred Stock
$45,679
 - - - -
Members Equity
$45,679
 - - - -
Common stock Class A
$45,679
 36 55 90 119
Common stock Class B
$45,679
 174 149 151 122
Common stock Class C
$45,679
 43 43 - -
Retained earnings
$45,679
 1,602 2,693 2,420 9
Additional paid-in capital
$45,679
 107,008 140,191 204,711 266,129
Accumulated other comprehensive income
-
 31 79 79 79
Accumulated other comprehensive (loss) income
$45,679
 - - - -
Total Switch Inc stockholders Switch Ltd members equity
$45,679
 - - - -
Total Equity attributable to Company
-
 108,894 143,210 207,451 266,458
Total Equity
$45,679
 $742,133 $708,352 $627,645 $610,967
Total Liabilities and Equity
$45,679
 $1,434,759 $1,460,030 $1,773,743 $2,114,456