Company name:

ADT Inc

  • IPO SHARE PRICE:
    $14.00
  • IPO DATE:
    January 19, 2018
  • TICKER:
    ADT
  • MAIN STOCK EXCHANGE:
    NYSE
  • CURRENT HQ LOCATION:
    1501 Yamato Road Boca Raton Florida 33431
  • FISCAL YEAR END:
    December 31
  • INCORPORATION JURISDICTION:
    DE
  • 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

ADT Inc

Largest US security alarm provider against burglar intrusions into private homes and business premises. In addition, ADT helps detect other adverse events on the customer premises: floods, fires, smoke, carbon monoxide, emergency medical assistance. Company utilizes sensors to detect intrusion into property and adverse events.

Upon detection of intrusion, ADT system sounds alarm in the building and company call center (called monitoring centers) attempts to verify validity of the event. If validity is confirmed , ADT calls police, fire fighters or emergency medical help.

Business model: typically, 3-year subscription contract, 2-year contract in California. ADT installs equipment for a fee and controls service via its call centers as opposed to DIY and self-monitoring approach by some of its competitors. Although, ADT has DYI offering called Blue by ADT.

Competitors: Vivint, Guardian, Comcast, Brinks Home Security (Moni), at&t, Stanley Security, Johnson Controls, Convergint Technologies, Securitas Electronic Security, Frontpoint Secuirty (DIY), SimpliSafe, Apple HomeKit, Amazon Ring, Google Nest.

Statement of Cash Flow

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2020
OPERATING ACTIVITIES
Cash received and spent on operating activites of business — buying materials, paying salaries, receiving payments from clients, etc
SOURCEs
0%
100 %
0%
USES
0%
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
$45,679
 ($609,155) ($424,150) ($632,193) ($632,193) ($448,244)
Depreciation and amortization
$45,679
$45,679
 1,930,929 1,989,082 1,913,767 1,913,767 1,894,112
Amortization of deferred revenue fair value adjustment Amortization of deferred revenue fair value adjustment
$45,679
-
 166 - - - -
Amortization of deferred subscriber acquisition costs
$45,679
$45,679
 59,928 80,128 96,823 96,823 106,388
Amortization of deferred subscriber acquisition revenue Amortization of deferred subscriber acquisition revenue
$45,679
$45,679
 (79,136) (107,284) (124,804) (124,804) (137,832)
Stock-based compensation
$45,679
$45,679
 135,012 85,626 96,013 96,013 85,020
Provision for losses on accounts receivable and inventory Provision for losses on accounts receivable and inventory
$45,679
$45,679
 61,026 55,452 119,677 119,677 82,632
Deferred income taxes
$45,679
$45,679
 (27,338) (117,889) (173,415) (173,415) (105,632)
Loss on goodwill impairment
-
-
 87,962 45,482 - - -
(Gain) loss on sale of business
-
-
 - 61,951 738 738 -
(Gain) loss on repayment of debt
$45,679
$45,679
 274,836 104,075 119,663 119,663 19,616
Unrealized (gain) loss on interest rate swaps
-
-
 - 8,501 60,363 60,363 241,452
Other non-cash items
$45,679
$45,679
 20,079 137,776 144,534 144,534 166,336
Accounts receivable
$45,679
$45,679
 (60,686) (94,449) (84,050) (84,050) (336,200)
Inventories and work-in-progress
$45,679
$45,679
 (2,602) (14,711) (60,797) (60,797) (243,188)
Contract assets
-
-
 (809) (18,683) (140,920) (140,920) (563,680)
Deferred subscriber acquisition costs
$45,679
$45,679
 (184,674) (189,988) (239,838) (239,838) (278,364)
Accounts payable
$45,679
$45,679
 9,007 19,325 65,317 65,317 261,268
Deferred subscriber acquisition revenue
$45,679
$45,679
 256,498 259,844 179,874 179,874 221,012
Other
$45,679
$45,679
 (84,245) (17,153) 25,997 25,997 887,580
Net cash provided by (used in) operating activities
$45,679
$45,679
 $1,787,607 $1,873,117 $1,366,749 $1,366,749 $1,493,920
Selected Year:
31-Dec
2020
INVESTING ACTIVITIES
Cash spent on acquiring plant, equipment and other businesses, cash recei0 from sale of plant, equipment and subsidiaries as well cash parked temporarily in different securities - government bonds typically
SOURCEs
0%
100 %
0%
USES
0%
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Capital expenditures
$45,679
$45,679
 (126,799) (158,846) - - -
(Purchase) sale of property and equipment
-
-
 (126,799) (158,846) (157,191) (157,191) (179,496)
Subscriber system assets
-
-
 (576,290) (542,305) (418,355) (418,355) (583,372)
Subscriber system assets and deferred subscriber installation costs Subscriber system assets and deferred subscriber installation costs
$45,679
$45,679
 (576,290) - - - -
Dealer generated customer accounts and bulk account purchases Dealer generated customer accounts and bulk account purchases
$45,679
$45,679
 (693,525) (669,683) (380,716) (380,716) (462,340)
Acquisition of business net of cash
$45,679
$45,679
 (352,819) (108,716) (224,617) (224,617) (169,852)
Sale of businesses
-
-
 - 496,398 (2,448) (2,448) -
Cash (paid) received on settlement of derivatives
$45,679
-
 - - - - -
Other investing activities
$45,679
$45,679
 11,223 4,975 45,850 45,850 46,252
Net cash provided by (used in) investing activities
$45,679
$45,679
 ($1,738,210) ($978,177) ($1,137,477) ($1,137,477) ($1,348,808)
Selected Year:
31-Dec
2020
FINANCING ACTIVITIES
Items in this group are concerned with borrowing funds, repaying debt, issuing equity, buying back shares, etc.
SOURCEs
0%
100 %
0%
USES
0%
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Initial Public Offering (IPO) net
-
-
 1,406,019 - - - -
Issuance of common stock
-
-
 - - 447,811 447,811 (8,756)
Issuance of mandatorily redeemable convertible preferred stock Issuance of mandatorily redeemable convertible preferred stock
$45,679
-
 - - - - -
Proceeds from receivables facility
-
-
 - - 82,517 82,517 155,076
Repayment of receivables facility
-
-
 - - (6,742) (6,742) (17,144)
Long-term borrowing
$45,679
$45,679
 422,875 3,403,022 2,640,000 2,640,000 -
Repayment of long-term borrowing
$45,679
$45,679
 (699,637) (3,845,195) (3,054,798) (3,054,798) (1,226,812)
Deferred financing costs
$45,679
$45,679
 (337) (54,382) (29,496) (29,496) (6,136)
Dividends paid
-
$45,679
 (79,439) (564,767) (109,328) (109,328) (116,120)
Capital contribution in cash form
$45,679
-
 - - - - -
Repurchases of common stock
-
-
 - (149,868) (4) (4) -
Repayment of mandatorily redeemable preferred securities including redemption premium Repayment of mandatorily redeemable preferred securities including redemption premium
-
-
 (852,769) - - - -
Other financing activities
$45,679
$45,679
 (3,711) (3,014) (40,221) (40,221) (57,776)
Net cash provided by (used in) financing activities
$45,679
$45,679
 $193,001 ($1,214,204) ($70,261) ($70,261) ($1,277,668)
Selected Year:
31-Dec
2020
NET CHANGE IN CASH
Grand Total for sum of cash flows coming from operations, investing and financing
$159,011,000
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cash and equivalents - Beginning of period
$45,679
$45,679
 $126,782 $367,162 $48,736 - $1,963,544
Effect of changes in foreign exchange rates on cash
$45,679
$45,679
 (2,018) 838 - - -
(Decrease) increase in cash and cash equivalents
$45,679
$45,679
 240,380 (318,426) 159,011 - (1,132,556)
Cash and equivalents - End of period
$45,679
$45,679
 $367,162 $48,736 $207,747 - $830,988