Ziff Davis aims to keep leverage ratio below 3x; earnings will double

By Devika Patel

Knoxville, Tenn., June 7 – Ziff Davis Inc. intends to keep its leverage ratio below 3x gross debt to EBITDA.

The company currently has a leverage ratio of about 2x.

Management expects to double the company’s earnings over the next five years, and the balance sheet is in good shape, with more liquidity than ever before.

“Over the next four to five years, we’re going to double the earnings of the company, and we’re going to abide by our self-imposed 3x gross debt over EBITDA cap, and we’re at about 2x right now, so we’ve got a turn available,” president and chief executive officer Vivek Shah said at the William Blair 42nd Annual Growth Stock Conference in Chicago on Monday.

“We’ve got $1 billion in addition in cash and investments on our balance sheet, so we’re really well positioned, as liquid as we’ve ever been,” he said.

Ziff Davis, formerly J2 Global, Inc., is a digital media and internet services company based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.