Citrix Systems, Inc.

NasdaqGS:CTXS Stock Report

Market Cap: US$13.2b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Citrix Systems Management

Management criteria checks 2/4

Key information

Bob Calderoni

Chief executive officer

US$21.1m

Total compensation

CEO salary percentage1.18%
CEO tenureless than a year
CEO ownership0.1%
Management average tenure3.2yrs
Board average tenure5.5yrs

Recent management updates

Recent updates

Seeking Alpha • Sep 22

Citrix Systems planned sale to Elliott, Vista set to close next Friday

Citrix Systems (NASDAQ:CTXS) sale to Elliott Investment Management and Vista Equity is scheduled to close on Sept. 30. The closing date was disclosed in an 8-K filing on Thursday. Citrix (CTXS) agreed in January to a $16.5 billion sale to Vista Equity and Elliott Management. Earlier this month Citrix said  all regulatory approvals for its takeover have been received and that it expects the deal to close during the last week of the month. On Wednesday Bloomberg reported Elliott is said to have purchased about $1 billion of the junk-bond deal supporting its planned buyout of software company Citrix (CTXS).
Seeking Alpha • Sep 07

Citrix ticks higher on report banks said to start Citrix loan sale for its takeover

A group of banks are said to have started a $4.5 billion loan sale for the takeover of Citrix Systems (NASDAQ:CTXS). Citrix ticked up 0.3% in premarket trading. The deal is said to include a $4.05 billion loan and $500 million-equivalent euro loan, according to traders, who cited a Bloomberg report. Bloomberg in July reported that the $15 billion debt sale associated with Citrix's sale to Vista Equity and Elliott Management, had been delayed until after the U.S. Labor Day holiday due to volatile markets. M&A investors have been concerned in recent months on leveraged buyouts due to stock market volatility, especially after tech PE firm Thoma Bravo reduced its takeout price for Anaplan earlier this eyar. Citrix (CTXS) agreed in January to a $16.5 billion sale to Vista Equity and Elliott Management.
Seeking Alpha • Aug 10

Citrix Systems ticks higher on report about debt financing for take private

Citrix Systems (NASDAQ:CTXS) ticked up 0.5% after a report that Bank of America expects to starts talks Monday on efforts to sell parts of $15 billion in debt financing for a takeover of Citrix. The preliminary talks are likely to focus on the secured part of the financing ahead of official sales, which may start after Labor Day holiday early next month, according to a Bloomberg report. Banks are expected to keep some of the secured debt and about $4B of unsecured, according to the report. Bloomberg last month reported that the $15 billion debt sale associated with Citrix's sale to Vista Equity and Elliott Management, had been delayed until after the U.S. Labor Day holiday due to volatile markets.
Seeking Alpha • Jun 17

96% IRR From Citrix In Arb's Golden Age

Time to put money to work. Merger arb spreads are wide. Here’s another you can buy today.
Seeking Alpha • May 18

Citrix To Integrate With Microsoft Windows 365

Citrix announced that it would be partnering with Microsoft to bring its HDX compression and other technologies to a future version of the Microsoft Windows 365 Cloud PC offering. By integrating HDX into the cloud-delivered, software-as-a-service-based Windows 365 offering, Microsoft is essentially enabling a way to improve the quality of the user experience for Win365, even over potentially limited-speed connections. In addition to HDX, the partnership is expected to let organizations that already have a Citrix-based infrastructure leverage the Citrix client and get access to their existing Citrix environments.
Seeking Alpha • Feb 07

Merger Arbitrage Mondays: Citrix To Be Acquired By Vista And Elliott

Potential Deal in the Works, Citrix Systems to be acquired by Vista and Elliott. Vista and Evergreen (an affiliate of Elliott) intend to combine Citrix and TIBCO Software, one of Vista’s portfolio companies. Cedar Fair (FUN) received an unsolicited non-binding proposal from SeaWorld Entertainment (SEAS) and Six Flags could be a potential bidder too.
Seeking Alpha • Dec 15

Citrix: Scoop Up This Stock While The Market Is Looking The Other Way

Citrix, a pandemic remote-work favorite, has fallen out of favor this year as growth has decelerated and sentiment for pandemic stocks has fallen. The company continues to emphasize its shift to SaaS, and organic SaaS ARR is up nearly 50% y/y. A new expanded partnership with Google Cloud also has the capability to jumpstart growth. Citrix has all the elements of a classic value stock, including a nearly ~2% yield.
Seeking Alpha • Sep 26

Citrix Systems: Buy While It's Down

Shares of Citrix have fallen 15% year to date and 20% from peaks as enthusiasm for its remote workspace products has waned in the post-pandemic era. Recently, the company took down its full-year revenue guidance, always a lightning rod for negativity in the tech sector. The guidance cut, however, is due more to Citrix’s ongoing subscription transition than it is fundamental slowness. The company is revamping its go-to-market strategy to address the slowdown. Ongoing rumors of a potential sale will also put a floor on the share price.
Seeking Alpha • Jul 08

Citrix Systems Has Dropped Enough, Time To Buy The Dip

Shares of Citrix have plunged ~35% from all-time highs due to fading pandemic tailwinds. The company has acquired workflow tool Asana to broaden its product portfolio and bolster growth, putting it in competition with Asana. Citrix is transitioning into a subscription/recurring business, and even without Wrike's contribution, the company is seeing mid-teens ARR growth. The company looks reasonably valued at ~17x next year's EPS.

CEO Compensation Analysis

How has Bob Calderoni's remuneration changed compared to Citrix Systems's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2022n/an/a

US$330m

Mar 31 2022n/an/a

US$278m

Dec 31 2021US$21mUS$250k

US$307m

Sep 30 2021n/an/a

US$317m

Jun 30 2021n/an/a

US$363m

Mar 31 2021n/an/a

US$413m

Dec 31 2020US$472kn/a

US$504m

Sep 30 2020n/an/a

US$599m

Jun 30 2020n/an/a

US$772m

Mar 31 2020n/an/a

US$753m

Dec 31 2019US$518kn/a

US$682m

Sep 30 2019n/an/a

US$640m

Jun 30 2019n/an/a

US$528m

Mar 31 2019n/an/a

US$542m

Dec 31 2018n/an/a

US$576m

Sep 30 2018n/an/a

US$126m

Jun 30 2018n/an/a

US$94m

Mar 31 2018n/an/a

US$96m

Dec 31 2017US$9mUS$660k

US$22m

Sep 30 2017n/an/a

US$484m

Jun 30 2017n/an/a

US$469m

Mar 31 2017n/an/a

US$467m

Dec 31 2016US$1mUS$1m

US$470m

Sep 30 2016n/an/a

US$423m

Jun 30 2016n/an/a

US$367m

Mar 31 2016n/an/a

US$364m

Dec 31 2015US$20mUS$431k

US$215m

Compensation vs Market: Bob's total compensation ($USD21.10M) is above average for companies of similar size in the US market ($USD13.04M).

Compensation vs Earnings: Bob's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Bob Calderoni (62 yo)

less than a year
Tenure
US$21,098,319
Compensation

Mr. Robert M. Calderoni, also known as Bob, CPA serves as Interim Chief Executive Officer and President at Citrix Systems, Inc. since October 6, 2021. He has been a Council at Silver Lake since 2015 and pr...

Leadership Team

NamePositionTenureCompensationOwnership
Robert Calderoni
Interim CEOless than a yearUS$21.10m0.13%
$ 16.7m
Mark Schmitz
COO & Executive VP3.2yrsUS$6.51m0.036%
$ 4.8m
Woong Kim
Executive VP and Chief Product & Technology Officer1.8yrsUS$6.74m0.014%
$ 1.9m
Michael Arenth
Executive Vice President of Work Solutionsless than a yearUS$6.70mno data
Jason Smith
Executive VP & CFOless than a yearno datano data
Jessica Soisson
VP, Chief Accounting Officer & Corporate Controller6.4yrsUS$3.06m0.025%
$ 3.3m
Traci Tsuchiguchi
Vice President of Investor Relationsno datano datano data
Antonio Gomes
Executive VP14.6yrsUS$8.77m0.099%
$ 13.0m
Timothy Minahan
Executive VP of Business Strategy & Chief Marketing Officer6.8yrsUS$2.79m0.058%
$ 7.7m
Isaac Leonard
Senior Director of Corporate Development & Corporate Venture Capitalno datano datano data
Donna Kimmel
Executive VP & Chief People Officer6.8yrsUS$6.28m0.080%
$ 10.5m
Parag Arora
Country Head & Area Vice President of India Subcontinentno datano datano data
3.2yrs
Average Tenure
49yo
Average Age

Experienced Management: CTXS's management team is considered experienced (3.2 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Robert Calderoni
Interim CEO8.3yrsUS$21.10m0.13%
$ 16.7m
Murray Demo
Independent Director17.6yrsUS$457.26k0.012%
$ 1.6m
Robert Knowling
Independent Director1.9yrsUS$438.51kno data
Thomas Hogan
Independent Director3.8yrsUS$370.92k0.0062%
$ 814.7k
Nanci Caldwell
Lead Independent Director14.2yrsUS$549.85k0.029%
$ 3.8m
J. Sherman
Independent Director2.5yrsUS$439.67k0.0036%
$ 474.6k
Peter Sacripanti
Independent Director6.8yrsUS$482.69k0.013%
$ 1.7m
Moira Kilcoyne
Independent Director4.3yrsUS$364.92k0.0069%
$ 916.2k
5.5yrs
Average Tenure
62.5yo
Average Age

Experienced Board: CTXS's board of directors are considered experienced (5.5 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2022/10/01 15:14
End of Day Share Price 2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Citrix Systems, Inc. is covered by 45 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Adam ShepherdArete Research Services LLP
Robert OliverBaird
Israel HernandezBarclays