Company name:

Switch Inc

  • IPO SHARE PRICE:
    $17.00
  • IPO DATE:
    October 06, 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

We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com

Income Statement

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2020
Revenue
Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Total Revenue
45,679
45,679
 378,275 405,860 462,310 511,547 511,547 510,996
Selected Year:
31-Dec
2020
Operating expenses
Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells
81.3%
54.6% —

Cost of revenue

26.7% —

Selling general and administrative
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cost of revenue
45,679
45,679
 198,230 224,413 242,679 279,475 279,475 279,600
Other
45,679
45,679
 1,333 3,283 1,481 1,000 1,000 1,068
Gross profit
45,679
45,679
 $180,045 $181,447 $219,631 $232,072 $232,072 $231,396
Selling general and administrative
45,679
45,679
 160,569 126,768 142,704 136,659 136,659 126,356
Impact fee expense
45,679
45,679
 649 - - - - -
Gain or loss on sale of assets
45,679
-
 - - - - - -
Gain on lease termination
45,679
45,679
 - - - - - -
Impairment of notes receivable
45,679
45,679
 - - - - - -
Total operating expenses
45,679
45,679
 359,448 351,181 385,383 416,134 416,134 405,956
Selected Year:
31-Dec
2020
Operating Income
Income after excluding Operating Expenses from Total Revenue
18.7%
18.7% —

Operating Income

Key metric that shows earnings potential of the company's business model
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Operating income
$45,679
$45,679
 $18,827 $54,679 $76,927 $95,413 $95,413 $105,040
Selected Year:
31-Dec
2020
Non-operating expenses
Cost usually unrelated to delivering service or manufacturing a product that business sells
4.6%
0.0% —

Loss on early repayment of debt

4.6% —

Loss on interest rate swaps
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Loss on interest rate swaps
-
-
 - - (14,917) (23,489) (23,489) (928)
Loss on early repayment of debt
45,679
45,679
 (3,565) - - (245) (245) -
Total non-operating income (expense)
45,679
45,679
 (3,565) - (14,917) (23,734) (23,734) (928)
Selected Year:
31-Dec
2020
Earnings before Interest and Taxes (EBIT)
Income after excluding Operating and Non-operating Expenses from Total Revenue
14.0%
14.0% —

EBIT

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
EBIT
$45,679
$45,679
 $15,262 $54,679 $62,010 $71,679 $71,679 $104,112
Selected Year:
31-Dec
2020
Interest Expense and Income, Taxes
Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure
6.7%
0.0% —

Income or loss from equity method investments

0.9% —

Income tax expense or benefit

5.8% —

Interest expense
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Interest expense
45,679
45,679
 (25,079) (26,370) (29,236) (29,774) (29,774) (36,368)
Total other expense or income
45,679
45,679
 (28,388) (23,418) (42,672) (52,508) (52,508) (36,228)
Income or loss from equity method investments
45,679
45,679
 (1,077) (331) - - - -
Income before income taxes
45,679
45,679
 (9,561) 31,261 34,255 42,905 42,905 68,812
Income tax expense or benefit
45,679
45,679
 981 (1,943) (2,713) (4,530) (4,530) (7,632)
Selected Year:
31-Dec
2020
Net income (loss)
Ultimate measure of Income - Net result after excluding all expenses from Total Revenue
7.5%
7.5% —

Net income (loss)

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
$45,679
 ($8,580) $29,318 $31,542 $38,375 $38,375 $61,180
Net income (loss) attributable to non-controlling interests Net income (loss) attributable to non-controlling interests
45,679
45,679
 6,628 25,266 22,625 22,836 22,836 35,372
Net income (loss) attributable to Company
45,679
45,679
 (15,208) 4,052 8,917 15,539 15,539 25,808

Basic Shares Outstanding
Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective
Class A
-
-
 36,066,544 55,577,650 94,877,065 127,339,012 127,339,012 127,339,012
Class B
-
-
 173,624,316 148,481,538 146,410,385 113,915,174 113,915,174 113,915,174
Class C
-
-
 42,944,647 42,944,647 - - - -
Selected Year:
31-Dec
2020
EPS
Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net Income per basic share
$45,678,795.00
$45,678,795.00
 ($1.88) $0.09 $0.12 $0.15 $0.15 $0.24
Net Income per diluted share
$45,678,795.00
$45,678,795.00
 ($1.88) $0.09 $0.11 $0.14 $0.14 $0.24