Gen Digital (GEN) Financial Forecast Calculator
Interactive 5-year forecast and DCF for Gen Digital. Adjust revenue growth, gross margin, capex intensity, WACC, and terminal growth - see revenue, free cash flow, and enterprise value update in real time. Seeded from Gen Digital’s most recent SEC filings.
Assumptions
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Frequently asked
What does Gen Digital do?+
Gen Digital, formerly NortonLifeLock, is a global leader in consumer cyber safety, offering cybersecurity, online privacy, identity protection, and financial wellness solutions. The company operates a portfolio of well-known brands like Norton, Avast, LifeLock, and MoneyLion, serving nearly 500 million users.
How does Gen Digital generate revenue?+
Gen Digital primarily generates revenue through its subscription-based, asset-light software model, with approximately 88% coming from Direct Revenue and 12% from Partner Revenue. The company utilizes a freemium funnel to acquire users and then cross-sells premium security and identity protection services.
What is Gen Digital's capital expenditure strategy?+
Gen Digital is an asset-light company with minimal capital expenditure, typically 1.0% - 1.5% of revenue. Capex is almost entirely maintenance-related, focusing on IT infrastructure and laptop refreshes, as growth is primarily driven by R&D and M&A.
Why does Gen Digital have negative net working capital?+
Gen Digital exhibits significantly negative net working capital because it collects cash upfront for annual subscriptions but recognizes revenue over 12 months. This creates a substantial Deferred Revenue liability on its balance sheet, which acts as a structural source of cash flow for the company.
How does Gen Digital approach mergers and acquisitions?+
Gen Digital is a transformational acquirer, having been formed by major acquisitions like Avast and recently acquiring MoneyLion to expand into financial wellness. Its M&A strategy focuses on software assets, typically paying 4x-6x EV/Revenue.
What is the purpose of the Gen Digital financial model?+
The Gen Digital financial model provides a comprehensive equity valuation and M&A integration scenario analysis for equity analysts. It enables forecasting subscription revenue growth, evaluating cross-selling synergies from the MoneyLion acquisition, and assessing the company's deleveraging and capital return capacity.
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