Ten Peaks Coffee Co Inc EBITDA dropped on 26.6% in 2015 and EBITDA Margin decreased on 4.6 pp from 11.0% to 6.4%
17.03.2016 • About Ten Peaks Coffee Co Inc (
$TPK) • By InTwits
Ten Peaks Coffee Co Inc reported 2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Ten Peaks Coffee Co Inc is a growth stock: 2015 revenue growth was 26.4%, 5 year revenue CAGR was 17.9% at 2015 ROIC 10.5%
- EBITDA Margin is quite volatile: 6.4% in 2015, 11.0% in 2014, 5.8% in 2013, 3.1% in 2012, 5.3% in 2011
- Ten Peaks Coffee Co Inc has low CAPEX intensity: 5 year average CAPEX/Revenue was 1.1%. At the same time it's in pair with industry average of 93.4%.
- CAPEX is quite volatile: 2.2 in 2015, 0.60 in 2014, 0.37 in 2013, 0.50 in 2012, 0.42 in 2011
- The company has business model with average profitability: ROIC is at 10.5%
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Ten Peaks Coffee Co Inc ($TPK) key annual financial indicators
| mln. CAD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 60.671 | 59.713 | 53.873 | 66.180 | 83.641 | 26.4% |
| Gross Profit | 6.615 | 4.663 | 6.211 | 11.361 | 11.313 | -0.4% |
| SG&A | | | 1.415 | 1.500 | 7.302 | 386.8% |
| EBITDA | 3.227 | 1.857 | 3.127 | 7.276 | 5.338 | -26.6% |
| Net Income | 0.823 | 1.504 | 1.654 | 3.017 | 1.312 | -56.5% |
Balance Sheet
|
|---|
| Cash | 0.500 | 1.304 | 2.594 | 0.898 | 9.065 | 909.5% |
| Short Term Debt | 9.012 | 6.983 | 5.005 | 8.023 | 0.869 | -89.2% |
| Long Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
Cash flow
|
|---|
| Capex | 0.423 | 0.499 | 0.370 | 0.602 | 2.187 | 263.3% |
Ratios
|
|---|
| Revenue growth | 65.2% | -1.6% | -9.8% | 22.8% | 26.4% | |
| EBITDA growth | -0.8% | -42.5% | 68.4% | 132.7% | -26.6% | |
| Gross Margin | 10.9% | 7.8% | 11.5% | 17.2% | 13.5% | -3.6% |
| EBITDA Margin | 5.3% | 3.1% | 5.8% | 11.0% | 6.4% | -4.6% |
| Net Income Margin | 1.4% | 2.5% | 3.1% | 4.6% | 1.6% | -3.0% |
| SG&A, % of revenue | | | 2.6% | 2.3% | 8.7% | 6.5% |
| CAPEX, % of revenue | 0.7% | 0.8% | 0.7% | 0.9% | 2.6% | 1.7% |
| ROIC | 6.4% | 1.6% | 6.4% | 20.0% | 10.5% | -9.5% |
| ROE | 3.6% | 6.7% | 7.4% | 13.0% | 4.0% | -9.0% |
| Net Debt/EBITDA | 2.6x | 3.1x | 0.8x | 1.0x | -1.5x | -2.5x |
Revenue and profitability
Ten Peaks Coffee Co Inc's Revenue jumped on 26.4% in 2015. Revenue growth was financed by EBITDA margin decline. EBITDA Margin decreased on 4.6 pp from 11.0% to 6.4% in 2015.
Gross Margin decreased on 3.6 pp from 17.2% to 13.5% in 2015. SG&A as a % of Revenue increased on 6.5 pp from 2.3% to 8.7% in 2015.
Net Income marign decreased on 3.0 pp from 4.6% to 1.6% in 2015.
Capital expenditures (CAPEX) and working capital investments
Ten Peaks Coffee Co Inc's CAPEX/Revenue was 2.6% in 2015. CAPEX/Revenue increased slightly on 1.8 pp from 0.84% in 2012 to 2.6% in 2015. It's average CAPEX/Revenue for the last three years was 1.4%.
Return on investment
The company operates at low ROIC (10.46%) and ROE (3.98%). ROIC decreased on 9.5 pp from 20.0% to 10.5% in 2015. ROE decreased on 9.0 pp from 13.0% to 4.0% in 2015.
Leverage (Debt)
Debt level is -1.5x Net Debt / EBITDA and 0.2x Debt / EBITDA. Net Debt / EBITDA dropped on 2.5x from 1.0x to -1.5x in 2015. Debt dropped on 89.2% in 2015 while cash surged on 909% in 2015.
Appendix 1: Peers in Consumer, Non-cyclical
Below you can find Ten Peaks Coffee Co Inc benchmarking vs. other companies in Consumer, Non-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 |
|---|
| GDI Integrated Facility Services Inc ($GDI) | | -38.8% | -72.9% | 218,969.1% | 18.7% |
| Cardiome Pharma Corp ($COM) | | -47.6% | 471.7% | 566.0% | -30.4% |
| Patient Home Monitoring Corp ($PHM) | | 170.2% | 1.9% | 433.0% | 238.4% |
| Family Memorials Inc ($FAM) | -13.6% | 54.7% | 22.9% | 245.3% | |
| Nobilis Health Corp ($NHC) | | 45.3% | 49.0% | 169.9% | 172.8% |
| |
|---|
| Median (86 companies) | 14.3% | 9.7% | 6.7% | 12.7% | 11.3% |
|---|
| Ten Peaks Coffee Co Inc ($TPK) | | -1.6% | -9.8% | 22.8% | 26.4% |
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% | 92.7% |
| Heritage Global Inc ($HGP) | 99.5% | | | 95.7% | 62.5% |
| Ritchie Bros Auctioneers Inc ($RBA) | 87.9% | 88.7% | 88.4% | 88.0% | 89.1% |
| Concordia Healthcare Corp ($CXR) | | | 79.4% | 86.0% | |
| |
|---|
| Median (74 companies) | 35.6% | 38.6% | 36.2% | 35.7% | 36.5% |
|---|
| Ten Peaks Coffee Co Inc ($TPK) | 10.9% | 7.8% | 11.5% | 17.2% | 13.5% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Cipher Pharmaceuticals Inc ($CPH) | -50.0% | 40.6% | 71.4% | 63.7% | 12.8% |
| Merus Labs International Inc ($MSL) | | 32.9% | 64.7% | 46.2% | 61.5% |
| Valeant Pharmaceuticals International Inc ($VRX) | 37.0% | 30.6% | 27.8% | 45.6% | 39.8% |
| EnerCare Inc ($ECI) | 59.0% | 52.8% | 51.0% | 45.5% | 39.3% |
| Information Services Corp ($ISV) | 34.1% | 39.6% | 39.6% | 37.6% | 36.1% |
| |
|---|
| Median (85 companies) | 7.9% | 8.5% | 9.0% | 10.6% | 10.9% |
|---|
| Ten Peaks Coffee Co Inc ($TPK) | 5.3% | 3.1% | 5.8% | 11.0% | 6.4% |
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 ($MBX) | 1.0% | 1.2% | 3.0% | 40.3% | 38.7% |
| |
|---|
| Median (86 companies) | 2.4% | 2.8% | 2.4% | 2.6% | 2.3% |
|---|
| Ten Peaks Coffee Co Inc ($TPK) | 0.7% | 0.8% | 0.7% | 0.9% | 2.6% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Biosyent Inc ($RX) | 45.5% | 71.7% | 62.4% | 62.9% | 48.2% |
| Information Services Corp ($ISV) | 56.0% | 71.8% | 72.8% | 58.9% | 38.1% |
| Covalon Technologies Ltd ($COV) | -49.6% | -75.8% | -30.1% | 50.6% | -12.4% |
| Cipher Pharmaceuticals Inc ($CPH) | -22.9% | 21.8% | 81.4% | 44.6% | -0.1% |
| Ceapro Inc ($CZO) | 69.9% | -33.5% | 15.5% | 43.5% | |
| |
|---|
| Median (86 companies) | 7.7% | 7.1% | 6.9% | 6.7% | 6.7% |
|---|
| Ten Peaks Coffee Co Inc ($TPK) | 6.4% | 1.6% | 6.4% | 20.0% | 10.5% |
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 | |
| Amica Mature Lifestyles Inc ($ACC) | 11.7x | 9.4x | 14.7x | 13.8x | 12.3x |
| Cott Corp ($BCB) | 2.6x | 2.0x | 2.2x | 13.4x | 4.9x |
| CRH Medical Corp ($CRH) | -2.3x | -3.1x | -3.5x | 12.0x | 1.3x |
| |
|---|
| Median (70 companies) | 1.8x | 2.5x | 2.2x | 2.7x | 1.6x |
|---|
| Ten Peaks Coffee Co Inc ($TPK) | 2.6x | 3.1x | 0.8x | 1.0x | -1.5x |
