Pizza Pizza Royalty Corp revenue growth accelerated to 5.4% in 2015 vs. 3.4% a year earliner
07.03.2016 • About Pizza Pizza Royalty Corp (
$PZA) • By InTwits
Pizza Pizza Royalty Corp reported 2015 financial results today. Overall the company's long term financial model is characterised by the following facts: The company has business model with average profitability: ROIC is at 10.2%.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Pizza Pizza Royalty Corp ($PZA) key annual financial indicators
| mln. CAD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 30.375 | 31.275 | 31.942 | 33.013 | 34.808 | 5.4% |
| SG&A | | | | | 0.624 | |
| EBITDA | 29.758 | | | | | |
| Net Income | 11.896 | 8.118 | 23.751 | 25.018 | 25.238 | 0.9% |
Balance Sheet
|
|---|
| Cash | 6.694 | 4.167 | 1.267 | 1.355 | 2.236 | 65.0% |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
| Long Term Debt | 46.838 | 46.870 | 46.902 | 46.934 | 46.937 | 0.0% |
Cash flow
|
|---|
| Capex | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
Ratios
|
|---|
| Revenue growth | 2.5% | 3.0% | 2.1% | 3.4% | 5.4% | |
| EBITDA growth | 2.8% | | | | | |
| EBITDA Margin | 98.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Income Margin | 39.2% | 26.0% | 74.4% | 75.8% | 72.5% | -3.3% |
| SG&A, % of revenue | | | | | 1.8% | 1.8% |
| ROIC | 11.7% | 10.5% | 9.7% | 9.9% | 10.2% | 0.3% |
| ROE | 6.0% | 3.5% | 8.8% | 9.2% | 9.2% | 0.0% |
| Net Debt/EBITDA | 1.3x | | | | | 0.0x |
Revenue and profitability
Pizza Pizza Royalty Corp's Revenue increased on 5.4% in 2015.
Net Income marign decreased on 3.3 pp from 75.8% to 72.5% in 2015.
Return on investment
The company operates at low ROIC (10.22%) and ROE (9.22%). ROIC showed almost no change in 2015. ROE showed almost no change in 2015.
Leverage (Debt)
Debt showed almost no change in 2015 while cash surged on 65.0% in 2015.
Appendix 1: Peers in Consumer, Cyclical
Below you can find Pizza Pizza Royalty Corp 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 ($HLC) | 5.4% | -24.6% | 2.7% | 62.7% | |
| |
|---|
| Median (68 companies) | 14.3% | 5.3% | 5.3% | 7.4% | 3.7% |
|---|
| Pizza Pizza Royalty Corp ($PZA) | | 3.0% | 2.1% | 3.4% | 5.4% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Restaurant Brands International Inc ($QSR) | | | 69.7% | 87.0% | 42.9% |
| Imvescor Restaurant Group Inc ($IRG) | 96.2% | 94.2% | 89.7% | 84.9% | 84.3% |
| DEQ Systems Corp ($DEQ) | 74.3% | 77.5% | 78.4% | 84.7% | |
| Cara Operations Ltd ($CAO) | | | 79.2% | 78.9% | 78.4% |
| Second Cup Ltd/The ($SCU) | 91.1% | 86.6% | 85.1% | 72.7% | 81.1% |
| |
|---|
| Median (61 companies) | 37.0% | 35.3% | 32.1% | 34.6% | 36.8% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Westshore Terminals Investment Corp ($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% | 34.9% |
| |
|---|
| Median (67 companies) | 8.4% | 8.0% | 9.7% | 10.0% | 10.0% |
|---|
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% | 22.5% |
| Exchange Income Corp ($EIF) | 8.2% | 7.9% | 15.8% | 15.5% | 15.4% |
| Holloway Lodging Corp ($HLC) | 3.4% | 8.2% | 6.7% | 14.8% | |
| Kelso Technologies Inc ($KLS) | 79.2% | 0.4% | 0.7% | 13.5% | |
| |
|---|
| Median (69 companies) | 2.9% | 2.7% | 2.9% | 2.5% | 3.0% |
|---|
| Pizza Pizza Royalty Corp ($PZA) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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 ($IPC) | -35.4% | 23.0% | 58.5% | 33.6% | 10.9% |
| |
|---|
| Median (69 companies) | 10.4% | 9.7% | 10.8% | 9.7% | 11.1% |
|---|
| Pizza Pizza Royalty Corp ($PZA) | 11.7% | 10.5% | 9.7% | 9.9% | 10.2% |
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 | 5.8x |
| 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 (59 companies) | 1.3x | 1.3x | 1.8x | 2.0x | 1.4x |
|---|
