Amica Mature Lifestyles Inc Net Debt / EBITDA dropped on 1.5x from 13.8x to 12.3x in 2015 while EBITDA jumped on 13.4%
28.08.2015 • About Amica Mature Lifestyles Inc (
$ACC) • By InTwits
Amica Mature Lifestyles Inc reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Amica Mature Lifestyles Inc doesn't have a profitable business model yet: FY2015 ROIC is 1.7%
- Amica Mature Lifestyles Inc has medium CAPEX intensity: 5 year average CAPEX/Revenue was 5.1%. At the same time it's in pair with industry average of 93.9%.
- CAPEX is quite volatile: 9.0 in FY2015, 9.7 in FY2014, 5.3 in FY2013, 2.8 in FY2012, 2.5 in FY2011
- The company has potentially unprofitable business model: ROIC is at 1.7%
- It operates with high leverage: Net Debt/EBITDA is 12.3x while industry average is 5.7x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Amica Mature Lifestyles Inc ($ACC) key annual financial indicators
| mln. CAD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 59.4 | 77.7 | 125.2 | 137.5 | 144.7 | 5.2% |
| EBITDA | 16.4 | 23.6 | 31.7 | 35.5 | 40.3 | 13.4% |
| Net Income | -3.0 | -9.5 | -8.5 | -15.7 | -4.2 | -72.9% |
Balance Sheet
|
|---|
| Cash | 10.2 | 31.3 | 8.8 | 5.3 | 3.7 | -29.0% |
| Short Term Debt | 0.0 | | 138.0 | 240.7 | 13.5 | -94.4% |
| Long Term Debt | 201.3 | 253.8 | 337.8 | 254.6 | 486.0 | 90.9% |
Cash flow
|
|---|
| Capex | 2.5 | 2.8 | 5.3 | 9.7 | 9.0 | -8.1% |
Ratios
|
|---|
| Revenue growth | 44.7% | 30.9% | 61.1% | 9.9% | 5.2% | |
| EBITDA growth | 87.1% | 44.3% | 34.5% | 11.9% | 13.4% | |
| EBITDA Margin | 27.6% | 30.4% | 25.4% | 25.8% | 27.8% | 2.0% |
| Net Income Margin | -5.1% | -12.2% | -6.8% | -11.4% | -2.9% | 8.5% |
| CAPEX, % of revenue | 4.2% | 3.6% | 4.3% | 7.1% | 6.2% | -0.9% |
| ROIC | -1.2% | 1.6% | -0.1% | 0.9% | 1.7% | 0.8% |
| ROE | -3.0% | -6.2% | -5.2% | -11.3% | -3.7% | 7.6% |
| Net Debt/EBITDA | 11.7x | 9.4x | 14.7x | 13.8x | 12.3x | -1.5x |
Revenue and profitability
The company's Revenue increased on 5.2% in FY2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin jumped on 56.2 pp from 19.2% to 75.4% in 2015.
Net Income marign increased on 8.5 pp from -11.4% to -2.9% in FY2015.
Capital expenditures (CAPEX) and working capital investments
In FY2015 the company had CAPEX/Revenue of 6.2%. The company's CAPEX/Revenue increased on 2.6 pp from 3.6% in FY2012 to 6.2% in FY2015. For the last three years the average CAPEX/Revenue was 5.8%.
Return on investment
The company operates at low but positive ROIC (1.68%) and negative ROE (-3.72%). ROIC increased slightly on 0.78 pp from 0.89% to 1.7% in FY2015. ROE increased on 7.6 pp from -11.3% to -3.7% in FY2015.
Leverage (Debt)
Company's Net Debt / EBITDA is 12.3x and Debt / EBITDA is 12.4x. Net Debt / EBITDA dropped on 1.5x from 13.8x to 12.3x in FY2015. Debt increased slightly on 0.87% in FY2015 while cash dropped on 29.0% in FY2015.
Appendix 1: Peers in Consumer, Non-cyclical
Below we provide Amica Mature Lifestyles Inc benchmarking against other companies in Consumer, Non-cyclical industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| GDI Integrated Facility Services Inc ($GDI) | 43.8% | -38.8% | -72.9% | 218,969.1% | |
| Cardiome Pharma Corp ($COM) | -97.7% | -47.6% | 471.7% | 566.0% | |
| Family Memorials Inc ($FAM) | -13.6% | 54.7% | 22.9% | 245.3% | |
| Nobilis Health Corp ($NHC) | 16.6% | 45.3% | 49.0% | 169.9% | |
| Concordia Healthcare Corp ($CXR) | | | | 159.5% | |
| |
|---|
| Median (85 companies) | 11.5% | 7.7% | 6.0% | 13.2% | 6.3% |
|---|
| Amica Mature Lifestyles Inc ($ACC) | | 30.9% | 61.1% | 9.9% | 5.2% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Nobilis Health Corp ($NHC) | | | | 99.8% | |
| Cipher Pharmaceuticals Inc ($CPH) | | | 99.5% | 98.3% | |
| Heritage Global Inc ($HGP) | 99.5% | | | 95.7% | |
| Ritchie Bros Auctioneers Inc ($RBA) | 87.9% | 88.7% | 88.4% | 88.0% | |
| Concordia Healthcare Corp ($CXR) | | | 79.4% | 86.0% | |
| |
|---|
| Median (74 companies) | 34.5% | 36.1% | 35.9% | 35.1% | 28.3% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Cipher Pharmaceuticals Inc ($CPH) | -50.0% | 40.6% | 71.4% | 63.7% | |
| Merus Labs International Inc ($MSL) | | 32.9% | 64.7% | 46.2% | |
| Valeant Pharmaceuticals International Inc ($VRX) | 37.0% | 30.6% | 27.8% | 45.6% | |
| EnerCare Inc ($ECI) | 59.0% | 52.8% | 51.0% | 45.5% | |
| Information Services Corp ($ISV) | 34.1% | 39.6% | 39.6% | 37.6% | |
| |
|---|
| Median (84 companies) | 7.9% | 7.9% | 8.3% | 10.5% | 10.3% |
|---|
| Amica Mature Lifestyles Inc ($ACC) | 27.6% | 30.4% | 25.4% | 25.8% | 27.8% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Neptune Technologies & Bioressources Inc ($NTB) | 6.0% | 4.7% | 73.6% | 84.6% | 119.0% |
| CanaDream Corp ($CDN) | 68.6% | 43.3% | 38.1% | 70.4% | 63.4% |
| Ceapro Inc ($CZO) | 2.2% | 3.9% | 35.3% | 52.0% | |
| Feronia Inc/Canada ($FRN) | 129.0% | 191.4% | 117.4% | 42.4% | |
| Microbix Biosystems Inc ($MBX) | 1.0% | 1.2% | 3.0% | 40.3% | |
| |
|---|
| Median (85 companies) | 2.3% | 2.6% | 2.4% | 2.4% | 4.2% |
|---|
| Amica Mature Lifestyles Inc ($ACC) | 4.2% | 3.6% | 4.3% | 7.1% | 6.2% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Biosyent Inc ($RX) | 45.5% | 71.7% | 62.4% | 62.9% | |
| Information Services Corp ($ISV) | 56.0% | 71.8% | 72.8% | 58.9% | |
| Covalon Technologies Ltd ($COV) | -49.6% | -75.8% | -30.1% | 50.6% | |
| Cipher Pharmaceuticals Inc ($CPH) | -22.9% | 21.8% | 81.4% | 44.6% | |
| Ceapro Inc ($CZO) | 69.9% | -33.5% | 15.5% | 43.5% | |
| |
|---|
| Median (85 companies) | 8.0% | 7.2% | 6.7% | 7.8% | 8.0% |
|---|
| Amica Mature Lifestyles Inc ($ACC) | -1.2% | 1.6% | -0.1% | 0.9% | 1.7% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Noble Iron Inc ($NIR) | | 25.5x | 12.9x | 227.3x | |
| Family Memorials Inc ($FAM) | | | | 15.2x | |
| Cott Corp ($BCB) | 2.6x | 2.0x | 2.2x | 13.4x | |
| CRH Medical Corp ($CRH) | -2.3x | -3.1x | -3.5x | 12.0x | |
| Centric Health Corp ($CHH) | 10.3x | 5.6x | 10.2x | 11.2x | |
| |
|---|
| Median (69 companies) | 1.8x | 2.5x | 2.1x | 2.7x | 1.6x |
|---|
| Amica Mature Lifestyles Inc ($ACC) | 11.7x | 9.4x | 14.7x | 13.8x | 12.3x |
