Clairvest Group Inc's revenue growth was 33.4% and EBITDA growth 26.1% annually over the last three years
01.07.2015 • About Clairvest Group Inc (
$CVG) • By InTwits
Clairvest Group Inc is an attractive growth stock in Financial industry. It showed noticeble revenue performance in the last years among with attractive profitability and financial model.
Growth story
Clairvest Group Inc showed growth in the last financial year. Clairvest Group Inc's revenue surged on 36.7% in FY2015. At the same time the company well managed its profitability and also showed EBITDA growth of 28.3% for the same period.
If we look for the longer period Clairvest Group Inc showed fast revenue growth of 33.4% from FY2012 to FY2015 annually. EBITDA surged on 26.1% from FY2012 to FY2015 annually.
Clairvest Group Inc ($CVG) financials for the last 5 years
| mln. CAD | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Revenue | 38 | 44 | 61 | 76 | 104 |
|---|
| Revenue growth, % | | 16.4% | 37.9% | 25.9% | 36.7% |
|---|
| SG&A, % | | | | | |
|---|
| EBITDA | 24 | 29 | 43 | 45 | 58 |
|---|
| EBITDA growth, % | | 19.9% | 49.0% | 4.9% | 28.3% |
|---|
| EBITDA margin, % | 63.9% | 65.8% | 71.1% | 59.2% | 55.6% |
|---|
| Net Income | 20 | 22 | 36 | 39 | 52 |
|---|
| Net Income margin, % | 51.8% | 51.0% | 59.0% | 50.8% | 49.8% |
|---|
| |
| CAPEX | 0 | 0 | 0 | 0 | 0 |
|---|
| CAPEX/Revenue, % | 0% | 0% | 0% | 0.152% | 0.0776% |
|---|
| Debt | 0 | 0 | 0 | 0 | 0 |
|---|
| Cash | 61 | 33 | 115 | 52 | 99 |
|---|
| Net Debt/EBITDA | -2.5x | -1.1x | -2.7x | -1.1x | -1.7x |
|---|
| |
| ROIC, % | 7.6% | 8.6% | 12.3% | 11.5% | 12.8% |
|---|
| ROE, % | 6.6% | 7.2% | 10.7% | 10.4% | 12.3% |
|---|
Profitability and return on investment
EBITDA growth was partly attributed to margin expansion. If we look for the longer period Clairvest Group Inc's EBITDA margin dropped on 10.2 pp from 65.8% in FY2012 to 55.6% in FY2015.
We call Clairvest Group Inc an attractive growth stock as together with the growth it delivers high ROIC at 12.8%. During the last three years it surged - it was 8.60% in FY2012. It's average ROIC for the last three years was 12.2%.
Clairvest Group Inc's Net Income margin decreased slightly on 1 pp from 50.8% to 49.8% in FY2015. In the longer period Clairvest Group Inc showed small Net Income margin decline of 1.20 pp from 51% in FY2012 to 49.8% in FY2015.
Clairvest Group Inc operates at ROE of 12.3%. Average ROE for the last three years was 11.1%.
Capital expenditures (CAPEX)
Clairvest Group Inc's CAPEX/Revenue was 0.0776% in FY2015. CAPEX/Revenue surged on 0.0776 pp from 0% in FY2012 to 0.0776% in FY2015.
Leverage (Debt)
The company has negative net debt at -1.7x Net Debt/EBITDA - at the same time with high growth. In the longer period the company showed fast leverage growth of 0.56x from -1.14x in FY2012 to -1.70x in FY2015.
Peers in Financial
Below you can find Clairvest Group Inc benchmarking vs. other companies in Financial 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, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Westaim Corp/The ($WED) | 35.7% | -99.9% | 38.0% | 5,680.8% | |
| Wall Financial Corp ($WFC) | | 35.2% | -74.1% | 285.4% | -75.3% |
| Element Financial Corp ($EFN) | | | 206.6% | 189.1% | |
| DealNet Capital Corp ($DLS) | -73.3% | 4,437.5% | 540.4% | 112.7% | |
| Gluskin Sheff + Associates Inc ($GS) | 4.1% | -39.1% | 60.6% | 97.9% | |
| |
|---|
| Median (72 companies) | 10.8% | 7.7% | 7.1% | 8.4% | -17.0% |
|---|
| Clairvest Group Inc ($CVG) | | 16.4% | 37.9% | 25.9% | 36.7% |
Top companies by Gross margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Olympia Financial Group Inc ($OLY) | 85.3% | 80.9% | 82.6% | 83.2% | |
| Morguard Corp ($MRC) | 74.8% | 74.0% | 69.9% | 68.6% | |
| DealNet Capital Corp ($DLS) | | 14.9% | 36.7% | 45.6% | |
| Brookfield Asset Management Inc ($BAM.A) | 34.3% | 25.6% | 30.7% | 28.6% | |
| Onex Corp ($OCX) | 20.0% | 20.1% | 26.2% | 27.9% | |
| |
|---|
| Median (11 companies) | 25.2% | 22.6% | 25.7% | 20.5% | 6.1% |
|---|
Top companies by EBITDA margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Firm Capital Mortgage Investment Corp ($FC) | 88.7% | 87.6% | 87.9% | 88.8% | |
| Equitable Group Inc ($EQB) | 89.7% | 88.1% | 87.4% | 86.0% | |
| Alaris Royalty Corp ($AD) | 97.0% | 81.3% | 61.8% | 81.8% | |
| Brookfield Real Estate Services Inc ($BRE) | 77.1% | 77.7% | 77.9% | 78.4% | |
| First National Financial Corp ($FN) | 66.1% | 67.8% | 76.5% | 77.1% | |
| |
|---|
| Median (48 companies) | 34.5% | 29.5% | 32.0% | 30.5% | 27.0% |
|---|
| Clairvest Group Inc ($CVG) | 63.9% | 65.8% | 71.1% | 59.2% | 55.6% |
Top companies by CAPEX/Revenue, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Killam Properties Inc ($KMP) | 73.6% | 80.7% | 114.1% | 143.5% | |
| Dundee Corp ($DC.A) | | 10.3% | 14.1% | 88.8% | 123.6% |
| StorageVault Canada Inc ($SVI) | 29.6% | 150.5% | 73.3% | 79.1% | |
| Mainstreet Equity Corp ($MEQ) | 152.4% | 115.8% | 62.3% | 75.8% | |
| First Capital Realty Inc ($FCR) | 102.8% | 127.9% | 76.1% | 73.8% | |
| |
|---|
| Median (74 companies) | 1.3% | 1.7% | 0.8% | 1.1% | 12.7% |
|---|
| Clairvest Group Inc ($CVG) | 0.0% | 0.0% | 0.0% | 0.2% | 0.1% |
Top companies by ROIC, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Gluskin Sheff + Associates Inc ($GS) | 71.3% | 21.0% | 82.9% | 153.9% | |
| Brookfield Real Estate Services Inc ($BRE) | 17.1% | 26.0% | 31.0% | 47.0% | |
| Redishred Capital Corp ($KUT) | -3.9% | -24.5% | 6.5% | 15.8% | |
| IGM Financial Inc ($IGM) | 15.3% | 14.2% | 14.2% | 13.7% | |
| Street Capital Group Inc ($SCB) | 2.3% | 10.9% | 11.0% | 13.4% | |
| |
|---|
| Median (76 companies) | 4.9% | 4.8% | 4.5% | 4.8% | 1.3% |
|---|
| Clairvest Group Inc ($CVG) | 7.6% | 8.6% | 12.3% | 11.5% | 12.8% |
Top companies by Net Debt / EBITDA
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| First National Financial Corp ($FN) | 37.6x | 34.3x | 33.7x | 40.9x | |
| Element Financial Corp ($EFN) | | 140.2x | 31.9x | 37.6x | |
| Gazit-Globe Ltd ($GZT) | 14.8x | 12.8x | 12.7x | 15.3x | |
| Morguard Corp ($MRC) | 7.5x | 8.9x | | 14.2x | |
| StorageVault Canada Inc ($SVI) | 6.0x | 11.2x | 9.7x | 13.6x | |
| |
|---|
| Median (40 companies) | 5.3x | 5.5x | 5.0x | 4.5x | 11.7x |
|---|
| Clairvest Group Inc ($CVG) | -2.5x | -1.1x | -2.7x | -1.1x | -1.7x |
