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Switch Income Statement 2021-2011 | SWCH
Brief overview of financial results at Switch
This overview is based on financial performance over the past five years. Revenue reported by Switch was $318 million at the beginning of the period and $592 million at the end. The total change was +86%, with a CAGR of approximately 13.2%. Revenue followed a strong upward trend without signs of stagnation.
Gross profit changed from 150 million dollars to 252 million dollars (+68.8%). The cost base moved against the top-line trend and weighed on the gross result. Gross margin moved from 47% to 42.6%. A lower margin indicates deterioration in the economics of the core business.
The five-year EBITDA result moved by +347.6%: from $51.1 million to $229 million. EBITDA expanded faster than the top line. At the operating-margin level, the figure shifted from 16% to 38.6%. Higher profitability strengthens the quality of operating growth.
Net income changed from 31.4 million dollars to 5.4 million dollars (−82.7%). Profit pressure may reflect higher operating, financing, or tax costs.
What the figures show
The financial profile remains mixed, with strengths and risks moving in different directions. The financial profile benefits from a larger revenue base and positive operating leverage. The overall view is constrained by weaker gross profitability and a weaker final result. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement Switch
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
3.83 B | 1.71 B | 1.11 B | 310 M | 142 M | - | - | - | - | - | - |
Shares |
134 M | 106 M | 76.5 M | 45.7 M | 8.07 M | 199 M | 197 M | - | - | - | - |
Historical Prices |
28.6 | 16.2 | 14.5 | 6.79 | 17.6 | - | - | - | - | - | - |
Net Income |
5.41 M | 15.5 M | 8.92 M | 4.05 M | -15.2 M | 31.4 M | 73.5 M | - | - | - | - |
Revenue |
592 M | 512 M | 462 M | 406 M | 378 M | 318 M | 266 M | - | - | - | - |
Cost of Revenue |
340 M | 279 M | 243 M | 224 M | 198 M | 169 M | 141 M | - | - | - | - |
Gross Profit |
252 M | 232 M | 220 M | 181 M | 180 M | 150 M | 125 M | - | - | - | - |
Operating Income |
56 M | 95.4 M | 76.9 M | 54.7 M | 18.8 M | 51.1 M | 79.6 M | - | - | - | - |
Interest Expense |
47.6 M | 29.8 M | 29.2 M | 26.4 M | 25.1 M | 10.8 M | 7.68 M | - | - | - | - |
EBITDA |
229 M | 238 M | 197 M | 161 M | 108 M | 51.1 M | 79.6 M | - | - | - | - |
Operating Expenses |
- | 137 M | 143 M | 127 M | 161 M | 98.4 M | 45.3 M | - | - | - | - |
General and Administrative Expenses |
161 M | 137 M | 143 M | 127 M | 161 M | 71.4 M | 45.3 M | - | - | - | - |
All numbers in USD currency
Quarterly Income Statement Switch
| 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
- | 155 M | 150 M | 148 M | - | 136 M | 130 M | 127 M | - | 109 M | 105 M | 94.4 M | - | 84.1 M | 77.7 M | 55.5 M | - | 50.7 M | 42.4 M | 36 M | - | 1 | 201 M | 200 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
- | -257 K | 377 M | 12.8 M | - | -369 K | 4.36 M | 11.6 M | - | 5.21 M | 5.1 M | -1.22 M | 4.05 M | 2.07 M | 1.18 M | 700 K | 2.55 M | 6 K | 821 K | 671 K | -67 M | 16.5 M | 15 M | 20.3 M | -19.8 M | 15.9 M | 18.5 M | 16.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Revenue |
- | 174 M | 168 M | 165 M | - | 158 M | 142 M | 131 M | - | 129 M | 127 M | 128 M | 121 M | 118 M | 112 M | 107 M | 103 M | 103 M | 102 M | 97.7 M | 99.3 M | 97.7 M | 92.1 M | 89.2 M | 81.9 M | 81.7 M | 80.8 M | 74 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
- | 127 M | 101 M | 94.5 M | - | 97.4 M | 77 M | 71.7 M | - | 74.3 M | 68.2 M | 67 M | - | 62.1 M | 57.9 M | 57.3 M | - | 59.2 M | 55.2 M | 54.9 M | - | 50.7 M | 48.5 M | 45.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
- | 47.9 M | 66.8 M | 70.1 M | - | 60.7 M | 64.7 M | 59.2 M | - | 54.4 M | 58.7 M | 61.1 M | 57 M | 55.4 M | 53.7 M | 49.7 M | 48 M | 43.6 M | 47 M | 42.9 M | 45.7 M | 46.9 M | 43.6 M | 43.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
- | 7.51 M | 21.2 M | 27.2 M | - | 17.8 M | 24.8 M | 24.2 M | - | 22.9 M | 25.3 M | 21 M | - | 18.1 M | 20.7 M | 15.5 M | - | 12.5 M | 15.8 M | 9.41 M | -54.6 M | 25.5 M | 23.5 M | 24.4 M | -7.5 M | 16.4 M | 22.3 M | 19.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
- | 16.7 M | 14.2 M | 13.2 M | - | 15.2 M | 10.2 M | 8.76 M | - | 6.55 M | 6.69 M | 7.44 M | - | 6.74 M | 7.34 M | 7.13 M | - | 7.41 M | 6.14 M | 6.27 M | - | 8.86 M | 4.91 M | 4.02 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
- | 58.1 M | 70.7 M | 75.1 M | - | 63 M | 66.1 M | 63 M | - | 59.7 M | 61.3 M | 53.5 M | - | 48.6 M | 50.5 M | 44 M | - | 12.5 M | 15.8 M | 9.41 M | -54.6 M | 25.5 M | 23.5 M | 24.4 M | -7.5 M | 16.4 M | 22.3 M | 19.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
- | 40.4 M | 45.6 M | 42.9 M | - | 42.8 M | 39.9 M | 35 M | - | 31.5 M | 33.4 M | 40.1 M | - | 37.3 M | 33 M | 34.3 M | - | 31.1 M | 31.1 M | 33.5 M | - | 21.5 M | 20.1 M | 19.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Switch (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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