Capstone Mining Corp reports 35.9% revenue decline in 2015
16.02.2016 • About Capstone Mining Corp (
$CS) • By InTwits
Capstone Mining Corp reported 2015 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Capstone Mining Corp ($CS) key annual financial indicators
| mln. $ | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 327.8 | 305.5 | 332.1 | 656.0 | 420.5 | -35.9% |
| Gross Profit | 208.2 | 178.7 | 128.3 | 251.1 | | -100.0% |
| SG&A | 11.7 | 18.1 | 21.9 | 21.9 | | -100.0% |
| EBITDA | 179.9 | 141.9 | 65.7 | 190.3 | | -100.0% |
| Net Income | 60.7 | 58.0 | -10.9 | -21.1 | -202.7 | 858.4% |
Balance Sheet
|
|---|
| Cash | 486.3 | 499.9 | 104.0 | 150.1 | 101.6 | -32.3% |
| Short Term Debt | 12.3 | 0.0 | 66.7 | 88.9 | 0.0 | -100.0% |
| Long Term Debt | 0.0 | 0.0 | 242.0 | 184.5 | 342.9 | 85.9% |
Cash flow
|
|---|
| Capex | 88.2 | 112.7 | 129.1 | 89.7 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 19.6% | -6.8% | 8.7% | 97.6% | -35.9% | |
| EBITDA growth | 22.2% | -21.1% | -53.7% | 189.5% | | |
| Gross Margin | 63.5% | 58.5% | 38.6% | 38.3% | | -38.3% |
| EBITDA Margin | 54.9% | 46.4% | 19.8% | 29.0% | 0.0% | -29.0% |
| Net Income Margin | 18.5% | 19.0% | -3.3% | -3.2% | -48.2% | -45.0% |
| SG&A, % of revenue | 3.6% | 5.9% | 6.6% | 3.3% | | -3.3% |
| CAPEX, % of revenue | 26.9% | 36.9% | 38.9% | 13.7% | | -13.7% |
| ROIC | 10.3% | 6.2% | -0.2% | 3.1% | | -3.1% |
| ROE | 8.5% | 5.3% | -1.0% | -2.0% | | 2.0% |
| Net Debt/EBITDA | -2.6x | -3.5x | 3.1x | 0.6x | | -0.6x |
Revenue and profitability
Capstone Mining Corp's Revenue dropped on 35.9% in 2015.
Net Income marign dropped on 45.0 pp from -3.2% to -48.2% in 2015.
Leverage (Debt)
Debt surged on 25.4% in 2015 while cash dropped on 32.3% in 2015.
Appendix 1: Peers in Basic Materials
Below we provide Capstone Mining Corp benchmarking against other companies in Basic Materials 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 |
|---|
| Northern Sun Mining Corp ($NSC) | -93.3% | 315.4% | -99.4% | 8,924.9% | |
| Turquoise Hill Resources Ltd ($TRQ) | | | -34.0% | 3,268.9% | -5.8% |
| Asian Mineral Resources Ltd ($ASN) | | | | 859.1% | |
| Ur-Energy Inc ($URE) | | | | 285.4% | |
| Nevsun Resources Ltd ($NSU) | | 3.3% | -72.5% | 256.5% | |
| |
|---|
| Median (130 companies) | 29.4% | 8.5% | -5.1% | -1.1% | 0.6% |
|---|
| Capstone Mining Corp ($CS) | | -6.8% | 8.7% | 97.6% | -35.9% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Nevsun Resources Ltd ($NSU) | 90.3% | 89.9% | 94.8% | 95.5% | |
| Franco-Nevada Corp ($FNV) | 84.6% | 86.1% | 85.0% | 83.5% | |
| Labrador Iron Ore Royalty Corp ($LIF) | 80.2% | 80.2% | 80.2% | 80.2% | |
| Lucara Diamond Corp ($LUC) | | 42.5% | 57.4% | 66.7% | |
| Royal Gold Inc ($RGL) | 68.9% | 71.5% | 70.6% | 57.6% | 86.0% |
| |
|---|
| Median (133 companies) | 30.1% | 31.5% | 20.7% | 16.8% | 15.7% |
|---|
| Capstone Mining Corp ($CS) | 63.5% | 58.5% | 38.6% | 38.3% | |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Royal Gold Inc ($RGL) | 86.1% | 88.2% | 88.6% | 84.4% | 65.0% |
| Franco-Nevada Corp ($FNV) | 38.6% | 62.1% | 44.6% | 72.3% | |
| Silver Wheaton Corp ($SLW) | 84.8% | 82.6% | 75.3% | 69.6% | |
| Sandstorm Gold Ltd ($SSL) | 63.8% | 74.3% | 49.9% | 62.1% | |
| Nevsun Resources Ltd ($NSU) | 81.0% | 76.8% | 54.5% | 60.4% | |
| |
|---|
| Median (137 companies) | 22.0% | 18.4% | 11.3% | 9.7% | 6.7% |
|---|
| Capstone Mining Corp ($CS) | 54.9% | 46.4% | 19.8% | 29.0% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Barkerville Gold Mines Ltd ($BGM) | 123.7% | 38.5% | 49.9% | 7,166.9% | 3.2% |
| Marlin Gold Mining Ltd ($MLN) | | | | 508.8% | |
| Imperial Metals Corp ($III) | 28.2% | 69.2% | 185.7% | 280.2% | |
| Golden Minerals Co ($AUM) | 462.4% | 36.9% | 16.8% | 212.8% | |
| Franco-Nevada Corp ($FNV) | 9.3% | 3.7% | 35.5% | 201.6% | |
| |
|---|
| Median (139 companies) | 23.9% | 26.3% | 25.2% | 16.3% | 8.7% |
|---|
| Capstone Mining Corp ($CS) | 26.9% | 36.9% | 38.9% | 13.7% | |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Lucara Diamond Corp ($LUC) | -7.1% | -2.9% | 41.3% | 54.7% | |
| CanAf Group Inc ($CAF) | 74.9% | 37.0% | 65.2% | 37.6% | |
| Nevsun Resources Ltd ($NSU) | 89.8% | 52.2% | 8.8% | 35.0% | |
| Dynacor Gold Mines Inc ($DNG) | 45.6% | 62.8% | 50.9% | 31.3% | |
| Canfor Pulp Products Inc ($CFX) | 103.5% | 4.9% | 13.2% | 21.3% | |
| |
|---|
| Median (143 companies) | 5.4% | 4.9% | 0.1% | -0.1% | -4.7% |
|---|
| Capstone Mining Corp ($CS) | 10.3% | 6.2% | -0.2% | 3.1% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| VMS Ventures Inc ($VMS) | | | | 86.7x | 4.7x |
| Ur-Energy Inc ($URE) | | | | 55.1x | |
| Katanga Mining Ltd ($KAT) | 0.4x | 19.4x | 3.3x | 18.8x | |
| HudBay Minerals Inc ($HBM) | -2.8x | -4.8x | 2.0x | 14.0x | |
| Imperial Metals Corp ($III) | -0.1x | 1.5x | 4.9x | 12.9x | |
| |
|---|
| Median (94 companies) | -0.0x | 0.3x | 0.7x | 0.9x | 1.8x |
|---|
| Capstone Mining Corp ($CS) | -2.6x | -3.5x | 3.1x | 0.6x | |
