BluMetric Environmental Inc revenue returned to growth in FY2015: increased 22.6% vs. 13.4% decline a year earliner
28.01.2016 • About BluMetric Environmental Inc (
$BLM) • By InTwits
BluMetric Environmental Inc reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- BluMetric Environmental Inc is a fast growth stock: FY2015 revenue growth was 22.6%, 5 year revenue CAGR was 45.2% at FY2015 ROIC 24.9%
- The company has highly profitable business model: ROIC is at 24.9%
- It operates with medium-size leverage: Net Debt/EBITDA is 2.1x while industry average is 2.0x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
BluMetric Environmental Inc ($BLM) key annual financial indicators
| mln. CAD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 3.089 | 7.468 | 31.549 | 27.309 | 33.479 | 22.6% |
| Gross Profit | 1.073 | 1.901 | | 4.733 | 7.379 | 55.9% |
| SG&A | | | | 6.713 | 5.748 | -14.4% |
| EBITDA | -1.043 | -0.635 | | -0.724 | 2.585 | -457.0% |
| Net Income | -1.255 | -0.940 | -2.316 | -6.939 | 1.016 | -114.6% |
Balance Sheet
|
|---|
| Cash | 0.027 | 0.219 | | 0.000 | 0.000 | |
| Short Term Debt | 0.934 | 1.444 | | 3.137 | 4.914 | 56.6% |
| Long Term Debt | 0.024 | 0.014 | | 3.061 | 0.639 | -79.1% |
Cash flow
|
|---|
| Capex | 0.003 | 0.019 | | 0.832 | 0.109 | -86.9% |
Ratios
|
|---|
| Revenue growth | -40.5% | 141.8% | 322.4% | -13.4% | 22.6% | |
| EBITDA growth | 252.3% | -39.1% | | | -457.0% | |
| Gross Margin | 34.7% | 25.5% | | 17.3% | 22.0% | 4.7% |
| EBITDA Margin | -33.8% | -8.5% | 0.0% | -2.7% | 7.7% | 10.4% |
| Net Income Margin | -40.6% | -12.6% | -7.3% | -25.4% | 3.0% | 28.4% |
| SG&A, % of revenue | | | | 24.6% | 17.2% | -7.4% |
| CAPEX, % of revenue | 0.1% | 0.3% | | 3.0% | 0.3% | -2.7% |
| ROIC | | | | | 24.9% | 24.9% |
| Net Debt/EBITDA | | | | | 2.1x | 2.1x |
Revenue and profitability
BluMetric Environmental Inc's Revenue surged on 22.6% in FY2015. Revenue growth happened at the same time with EBITDA margin expansion. EBITDA Margin jumped on 10.4 pp from -2.7% to 7.7% in FY2015.
Gross Margin increased on 4.7 pp from 17.3% to 22.0% in FY2015. SG&A as a % of Revenue decreased on 7.4 pp from 24.6% to 17.2% in FY2015.
Net Income marign jumped on 28.4 pp from -25.4% to 3.0% in FY2015.
Capital expenditures (CAPEX) and working capital investments
In FY2015 the company had CAPEX/Revenue of 0.33%. The company's CAPEX/Revenue showed almost no change from FY2012 to FY2015.
Leverage (Debt)
Debt level is 2.1x Net Debt / EBITDA and 2.1x Debt / EBITDA. Net Debt / EBITDA surged2.1x from to 2.1x in FY2015. Debt dropped on 10.4% in FY2015 while cash didn't change in FY2015.
Appendix 1: Peers in Industrial
Below we provide BluMetric Environmental Inc benchmarking against other companies in Industrial 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 |
|---|
| Electrovaya Inc ($EFL) | | -4.0% | -71.2% | 160.5% | 123.8% |
| Enterprise Group Inc ($E) | 14.5% | 3.5% | 88.3% | 128.5% | |
| Carmanah Technologies Corp ($CMH) | 5.8% | -26.4% | -2.0% | 68.8% | |
| Exco Technologies Ltd ($XTC) | | 19.7% | 0.9% | 50.5% | 35.3% |
| Lumenpulse Inc ($LMP) | | 56.7% | 33.9% | 47.0% | 61.8% |
| |
|---|
| Median (92 companies) | 13.5% | 10.4% | 4.9% | 9.4% | 12.5% |
|---|
| BluMetric Environmental Inc ($BLM) | | 141.8% | 322.4% | -13.4% | 22.6% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| WSP Global Inc ($WSP) | 81.1% | 81.1% | 83.2% | 81.0% | |
| Pure Technologies Ltd ($PUR) | 75.7% | 77.9% | 78.0% | 77.5% | |
| Alarmforce Industries Inc ($AF) | 76.4% | 75.0% | 76.5% | 72.2% | 69.2% |
| Epicore BioNetworks Inc ($EBN) | 59.0% | 60.8% | 63.2% | 64.1% | 58.1% |
| FLYHT Aerospace Solutions Ltd ($FLY) | 54.0% | 57.2% | 59.2% | 62.9% | |
| |
|---|
| Median (88 companies) | 23.2% | 23.0% | 23.4% | 23.1% | 26.1% |
|---|
| BluMetric Environmental Inc ($BLM) | 34.7% | 25.5% | | 17.3% | 22.0% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Canadian National Railway Co ($CNR) | 46.3% | 46.5% | 45.9% | 46.8% | 50.9% |
| Canadian Pacific Railway Ltd ($CP) | 28.1% | 26.1% | 32.4% | 43.7% | 48.9% |
| Vitreous Glass Inc ($VCI) | 29.0% | 31.4% | 32.2% | 37.8% | 39.0% |
| Questor Technology Inc ($QST) | 25.1% | 25.7% | 34.9% | 34.1% | |
| Progressive Waste Solutions Ltd ($BIN) | 32.2% | 30.7% | 33.1% | 34.0% | |
| |
|---|
| Median (85 companies) | 8.3% | 9.4% | 8.3% | 7.7% | 11.5% |
|---|
| BluMetric Environmental Inc ($BLM) | -33.8% | -8.5% | | -2.7% | 7.7% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Cargojet Inc ($CJT.A) | 6.8% | 7.0% | 6.3% | 54.1% | |
| Newalta Corp ($NAL) | 17.2% | 21.7% | 34.5% | 35.1% | |
| Enterprise Group Inc ($E) | 3.6% | 17.4% | 27.2% | 32.7% | |
| ENTREC Corp ($ENT) | | 35.0% | 26.7% | 29.5% | |
| Horizon North Logistics Inc ($HNL) | 25.1% | 26.5% | 16.3% | 24.1% | |
| |
|---|
| Median (92 companies) | 3.0% | 3.1% | 3.6% | 3.2% | 3.3% |
|---|
| BluMetric Environmental Inc ($BLM) | 0.1% | 0.3% | | 3.0% | 0.3% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Vitreous Glass Inc ($VCI) | 26.1% | 30.5% | 32.3% | 48.3% | 51.0% |
| Photon Control Inc ($PHO) | 10.1% | 21.0% | 44.4% | 38.0% | |
| SNC-Lavalin Group Inc ($SNC) | 14.6% | 10.7% | 4.0% | 35.2% | |
| Alarmforce Industries Inc ($AF) | 18.3% | 5.3% | 24.0% | 33.9% | 19.0% |
| Epicore BioNetworks Inc ($EBN) | 24.8% | 28.1% | 16.1% | 32.5% | 26.3% |
| |
|---|
| Median (93 companies) | 9.0% | 9.7% | 8.5% | 8.8% | 10.3% |
|---|
| BluMetric Environmental Inc ($BLM) | | | | | 24.9% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Sigma Industries Inc ($SSG) | | 4.4x | 11.3x | 225.9x | 2.9x |
| H2O Innovation Inc ($HEO) | | | 4.2x | 73.2x | 1.6x |
| Grand Power Logistics Group Inc ($GPW) | | 47.8x | | 53.1x | |
| Cargojet Inc ($CJT.A) | 1.8x | 1.5x | 1.5x | 31.5x | |
| IBI Group Inc ($IBG) | 4.2x | 6.5x | | 8.3x | |
| |
|---|
| Median (73 companies) | 1.1x | 1.5x | 1.5x | 1.3x | -0.2x |
|---|
