Citrix Systems, Inc.


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SKU: CTXS Category:


Citrix delivered a decent 2021 and its performance was backed by a particularly solid foundation in the VDI DaaS and  ADC markets. The company has a strong presence in many key industry verticals and a loyal and strong customer base over the globe. It has proven successful in its transition to the cloud with more than $1 billion of SaaS ARR and an overall ARR of $3 billion. The management is making necessary investments related to innovation as well as a continued transition to move ALL of its revenues to its recurring revenues. Given the high switching costs and excellent renewal rates, this is a wonderful move. They are expecting an organic ARR growth of approximately 10% in the year which might be below the standard high-growth tech peers but is not bad at all. We provide the company a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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