Taiga Building Products Ltd revenue jumped on 12.9% in 2015
18.06.2015 • About Taiga Building Products Ltd (
$TBL) • By InTwits
Taiga Building Products Ltd reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Taiga Building Products Ltd has low CAPEX intensity: 5 year average CAPEX/Revenue was 0.4%.
- The company has highly profitable business model: ROIC is at 16.1%
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Taiga Building Products Ltd ($TBL) key annual financial indicators
| mln. CAD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 982 | 972 | 1,133 | 1,194 | 1,349 | 12.9% |
| Gross Profit | 89 | 96 | 103 | 97 | 115 | 18.8% |
| SG&A | | | | 49 | 55 | 12.6% |
| EBITDA | 33 | 35 | 43 | 34 | | -100.0% |
| Net Income | 4 | 4 | 10 | 5 | 11 | 118.3% |
Balance Sheet
|
|---|
| Cash | 0 | 0 | 0 | 0 | 0 | |
| Short Term Debt | 93 | 112 | 153 | 131 | 130 | -0.5% |
| Long Term Debt | 151 | 155 | 152 | 159 | 157 | -1.3% |
Cash flow
|
|---|
| Capex | 3 | 2 | 9 | 5 | 1 | -70.4% |
Ratios
|
|---|
| Revenue growth | 5.4% | -1.0% | 16.6% | 5.4% | 12.9% | |
| EBITDA growth | -19.7% | 6.0% | 22.4% | -20.6% | | |
| Gross Margin | 9.0% | 9.9% | 9.1% | 8.1% | 8.5% | 0.4% |
| EBITDA Margin | 3.3% | 3.6% | 3.8% | 2.8% | 0.0% | -2.8% |
| Net Income Margin | 0.4% | 0.4% | 0.9% | 0.4% | 0.8% | 0.4% |
| SG&A, % of revenue | | | | 4.1% | 4.1% | -0.0% |
| CAPEX, % of revenue | 0.3% | 0.2% | 0.8% | 0.4% | 0.1% | -0.3% |
| ROIC | 26.5% | 16.3% | 17.1% | 12.0% | 16.1% | 4.1% |
| Net Debt/EBITDA | 7.5x | 7.7x | 7.2x | 8.6x | | -8.6x |
Revenue and profitability
Taiga Building Products Ltd's Revenue surged on 12.9% in FY2015.
Gross Margin showed almost no change in FY2015. SG&A as a % of Revenue showed almost no change in FY2015.
Net Income marign showed almost no change in FY2015.
Capital expenditures (CAPEX) and working capital investments
Taiga Building Products Ltd's CAPEX/Revenue was 0.10% in FY2015. The company showed almost no change in CAPEX/Revenue from FY2012 to FY2015. It's average CAPEX/Revenue for the last three years was 0.43%.
Leverage (Debt)
Debt decreased slightly on 0.94% in FY2015 while cash didn't change in FY2015.
Appendix 1: Peers in Consumer, Cyclical
Below you can find Taiga Building Products Ltd benchmarking vs. other companies in Consumer, Cyclical industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Amaya Inc ($AYA) | 216.4% | 311.5% | 85.2% | 254.0% | |
| Partner Jet Corp ($PJT) | -19.9% | -15.2% | 1.2% | 119.7% | |
| Kelso Technologies Inc ($KLS) | 80.5% | 577.5% | 487.8% | 81.4% | |
| XPEL Technologies Corp ($DAP.U) | 46.3% | 76.6% | 67.7% | 65.5% | |
| Holloway Lodging Corp ($HLC) | 5.4% | -24.6% | 2.7% | 62.7% | |
| |
|---|
| Median (67 companies) | 12.4% | 5.3% | 4.9% | 7.7% | 2.9% |
|---|
| Taiga Building Products Ltd ($TBL) | | -1.0% | 16.6% | 5.4% | 12.9% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Restaurant Brands International Inc ($QSR) | | | 69.7% | 87.0% | |
| Imvescor Restaurant Group Inc ($IRG) | 96.2% | 94.2% | 89.7% | 84.9% | |
| DEQ Systems Corp ($DEQ) | 74.3% | 77.5% | 78.4% | 84.7% | |
| Second Cup Ltd/The ($SCU) | 91.1% | 86.6% | 85.1% | 72.7% | |
| New Look Vision Group Inc ($BCI) | 72.3% | 71.8% | 72.6% | 72.6% | |
| |
|---|
| Median (59 companies) | 37.9% | 36.5% | 32.1% | 34.6% | 38.4% |
|---|
| Taiga Building Products Ltd ($TBL) | 9.0% | 9.9% | 9.1% | 8.1% | 8.5% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Westshore Terminals Investment Corp ($WTE) | | 49.7% | 65.9% | 60.9% | 59.6% |
| Gamehost Inc ($GH) | 44.2% | 46.1% | 45.7% | 45.9% | |
| Great Canadian Gaming Corp ($GC) | 34.1% | 16.8% | 41.1% | 40.1% | |
| Amaya Inc ($AYA) | -5.7% | 7.2% | 38.2% | 39.3% | |
| MTY Food Group Inc ($MTY) | 32.2% | 36.3% | 38.7% | 37.0% | |
| |
|---|
| Median (65 companies) | 8.7% | 8.1% | 9.8% | 10.0% | 9.7% |
|---|
| Taiga Building Products Ltd ($TBL) | 3.3% | 3.6% | 3.8% | 2.8% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Poydras Gaming Finance Corp ($PYD) | | | | 32.5% | |
| WestJet Airlines Ltd ($WJA) | 3.9% | 7.9% | 19.5% | 18.6% | |
| Exchange Income Corp ($EIF) | 8.2% | 7.9% | 15.8% | 15.5% | |
| Holloway Lodging Corp ($HLC) | 3.4% | 8.2% | 6.7% | 14.8% | |
| Kelso Technologies Inc ($KLS) | 79.2% | 0.4% | 0.7% | 13.5% | |
| |
|---|
| Median (68 companies) | 2.9% | 2.7% | 2.9% | 2.4% | 3.2% |
|---|
| Taiga Building Products Ltd ($TBL) | 0.3% | 0.2% | 0.8% | 0.4% | 0.1% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Partner Jet Corp ($PJT) | -30.7% | -51.6% | -50.8% | 85.1% | |
| Kelso Technologies Inc ($KLS) | -121.3% | | | 48.8% | |
| XPEL Technologies Corp ($DAP.U) | 52.9% | 54.7% | 57.5% | 43.2% | |
| Westshore Terminals Investment Corp ($WTE) | | 24.0% | 37.8% | 35.0% | 38.3% |
| Iplayco Corp Ltd ($IPC) | -35.4% | 23.0% | 58.5% | 33.6% | |
| |
|---|
| Median (68 companies) | 10.4% | 9.7% | 10.1% | 9.7% | 3.1% |
|---|
| Taiga Building Products Ltd ($TBL) | 26.5% | 16.3% | 17.1% | 12.0% | 16.1% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Mountain China Resorts Holding Ltd ($MCG) | | | | 317.1x | |
| Restaurant Brands International Inc ($QSR) | | | 3.8x | 33.6x | |
| Allied Hotel Properties Inc ($AHP) | | | | 21.3x | |
| Hudson's Bay Co ($HBC) | 8.7x | 3.8x | 3.6x | 19.1x | 3.6x |
| Amaya Inc ($AYA) | | 17.9x | 1.8x | 13.5x | |
| |
|---|
| Median (57 companies) | 1.3x | 1.2x | 1.6x | 1.9x | 1.1x |
|---|
| Taiga Building Products Ltd ($TBL) | 7.5x | 7.7x | 7.2x | 8.6x | |
