New Look Vision Group Inc is an attractive stock for a growth investor
21.03.2016 • About New Look Vision Group Inc (
$BCI) • By InTwits
Have you thought about New Look Vision Group Inc as a growth stock? It showed noticeble revenue performance in the last years among with attractive profitability and financial model.
Growth story
New Look Vision Group Inc showed fast growth in the last financial year. The company's revenue surged on 24.5% in FY2015. The growth also happened in EBITDA of 34.2% for the same period.
In the last 3 years New Look Vision Group Inc showed fast revenue growth of 28.5% from FY2012 to FY2015 annually. EBITDA surged on 29.1% from FY2012 to FY2015 annually.
New Look Vision Group Inc ($BCI) financials for the last 5 years
| mln. CAD | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Revenue | 80 | 82 | 91 | 140 | 175 |
|---|
| Revenue growth, % | | 2.6% | 10.5% | 54.2% | 24.5% |
|---|
| Gross margin, % | 72.3% | 71.8% | 72.6% | 72.6% | 78.7% |
|---|
| SG&A, % | | | | | |
|---|
| EBITDA | 13 | 15 | 14 | 24 | 32 |
|---|
| EBITDA growth, % | | 14.6% | -4.2% | 67.5% | 34.2% |
|---|
| EBITDA margin, % | 16.2% | 18.0% | 15.6% | 17.0% | 18.3% |
|---|
| Net Income | 6 | 6 | 6 | 8 | 9 |
|---|
| Net Income margin, % | 7.51% | 7.87% | 6.86% | 5.54% | 5.25% |
|---|
| |
| CAPEX | 4 | 9 | 0 | 0 | 6 |
|---|
| CAPEX/Revenue, % | 4.79% | 10.7% | 0% | 0% | 3.48% |
|---|
| Debt | 8 | 10 | 63 | 68 | 61 |
|---|
| Cash | 1 | 2 | 0 | 4 | 10 |
|---|
| Net Debt/EBITDA | 0.5x | 0.6x | 4.4x | 2.7x | 1.6x |
|---|
| |
| ROIC, % | 32.5% | 32.8% | 12.6% | 12.2% | 15.4% |
|---|
| ROE, % | 25.2% | 25.7% | 16.3% | 13.9% | 14.6% |
|---|
Profitability and return on investment
Margin expansion supported EBITDA growth. New Look Vision Group Inc's EBITDA margin increased on 1.30 pp from 17% to 18.3% in FY2015. If we look for the longer period the company's EBITDA margin increased slightly on 0.300 pp from 18% in FY2012 to 18.3% in FY2015.
New Look Vision Group Inc shows attractive ROIC at 15.4% for the last 12 months which assumes stable development model. Three years ago it was considerably higher at 32.8%. For the last three years the average ROIC was 13.4%.
Net Income margin decreased on 0.300 pp from 5.50% to 5.20% in FY2015. If we look for the longer period New Look Vision Group Inc's Net Income margin dropped on 2.70 pp from 7.90% in FY2012 to 5.20% in FY2015.
New Look Vision Group Inc operates at ROE of 14.6%. It's average ROE for the last three years was 14.9%.
Capital expenditures (CAPEX)
In FY2015 New Look Vision Group Inc had CAPEX/Revenue of 3.48%. New Look Vision Group Inc showed big decline in CAPEX/Revenue of 7.20 pp from 10.7% in FY2012 to 3.48% in FY2015.
Leverage (Debt)
New Look Vision Group Inc has medium debt level at 1.6x Net Debt/EBITDA to maintain high growth. In the last 3 years leverage surged on 1.05x from 0.56x in FY2012 to 1.60x in FY2015.
Peers in Consumer, Cyclical
Below you can find New Look Vision Group Inc 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, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Restaurant Brands International Inc ($QSR) | | | | 4.6% | 238.0% |
| DHX Media Ltd ($DHX.A) | | 31.1% | 33.9% | 19.4% | 127.4% |
| Amaya Inc ($AYA) | | 311.5% | 85.2% | 254.0% | 113.8% |
| Hudson's Bay Co ($HBC) | | 3.5% | 5.9% | 28.1% | 56.4% |
| Exchange Income Corp ($EIF) | | 56.9% | -36.4% | 6.6% | 48.8% |
| |
|---|
| Median (56 companies) | 16.1% | 5.3% | 4.9% | 7.0% | 4.7% |
|---|
| New Look Vision Group Inc ($BCI) | | 2.6% | 10.5% | 54.2% | 24.5% |
Top companies by Gross margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Imvescor Restaurant Group Inc ($IRG) | 96.2% | 94.2% | 89.7% | 84.9% | 84.3% |
| Second Cup Ltd/The ($SCU) | 91.1% | 86.6% | 85.1% | 72.7% | 81.1% |
| Cara Operations Ltd ($CAO) | | | 79.2% | 78.9% | 78.4% |
| Air Canada ($AC) | 62.3% | 62.4% | 63.5% | 64.0% | 71.9% |
| Chorus Aviation Inc ($CHR.A) | 57.0% | 59.0% | 60.1% | 61.9% | 67.2% |
| |
|---|
| Median (49 companies) | 36.1% | 34.1% | 31.8% | 33.5% | 33.7% |
|---|
| New Look Vision Group Inc ($BCI) | 72.3% | 71.8% | 72.6% | 72.6% | 78.7% |
Top companies by EBITDA margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Westshore Terminals Investment Corp ($WTE) | | 49.7% | 65.9% | 60.9% | 59.6% |
| Gamehost Inc ($GH) | 44.2% | 46.1% | 45.7% | 45.9% | 42.8% |
| Great Canadian Gaming Corp ($GC) | 34.1% | 16.8% | 41.1% | 40.1% | 36.6% |
| Amaya Inc ($AYA) | -5.7% | 7.2% | 38.2% | 39.3% | 31.0% |
| MTY Food Group Inc ($MTY) | 32.2% | 36.3% | 38.7% | 37.0% | 34.9% |
| |
|---|
| Median (66 companies) | 8.4% | 7.9% | 9.6% | 9.8% | 10.3% |
|---|
| New Look Vision Group Inc ($BCI) | 16.2% | 18.0% | 15.6% | 17.0% | 18.3% |
Top companies by CAPEX/Revenue, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Holloway Lodging Corp ($HLC) | 3.4% | 8.2% | 6.7% | 14.8% | 26.7% |
| WestJet Airlines Ltd ($WJA) | 3.9% | 7.9% | 19.5% | 18.6% | 22.5% |
| Westshore Terminals Investment Corp ($WTE) | | 25.7% | 11.5% | 6.2% | 21.2% |
| Exchange Income Corp ($EIF) | 8.2% | 7.9% | 15.8% | 15.5% | 15.4% |
| Chorus Aviation Inc ($CHR.A) | 12.5% | 9.9% | 9.6% | 3.9% | 15.0% |
| |
|---|
| Median (56 companies) | 2.6% | 2.7% | 2.9% | 2.5% | 3.0% |
|---|
| New Look Vision Group Inc ($BCI) | 4.8% | 10.7% | 0.0% | 0.0% | 3.5% |
Top companies by ROIC, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Westshore Terminals Investment Corp ($WTE) | | 24.0% | 37.8% | 35.0% | 38.3% |
| BRP Inc/CA ($DOO) | | 29.8% | 26.8% | 32.3% | 35.3% |
| Cara Operations Ltd ($CAO) | | | | 24.7% | 35.1% |
| Jean Coutu Group PJC Inc/The ($PJC.A) | 33.5% | 34.4% | 29.8% | 29.2% | 30.2% |
| Dollarama Inc ($DOL) | 17.7% | 21.6% | 24.7% | 26.5% | 29.9% |
| |
|---|
| Median (56 companies) | 10.4% | 9.7% | 10.1% | 9.7% | 11.1% |
|---|
| New Look Vision Group Inc ($BCI) | 32.5% | 32.8% | 12.6% | 12.2% | 15.4% |
Top companies by Net Debt / EBITDA
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Holloway Lodging Corp ($HLC) | | | 5.8x | 8.4x | 17.1x |
| Discovery Air Inc ($DA.A) | 3.2x | 2.8x | 3.8x | 7.5x | 11.4x |
| Second Cup Ltd/The ($SCU) | 0.6x | 1.0x | 0.6x | 0.0x | 7.5x |
| Amaya Inc ($AYA) | | 17.9x | 1.8x | 13.5x | 6.6x |
| Performance Sports Group Ltd ($PSG) | | 2.6x | 3.5x | 12.2x | 6.5x |
| |
|---|
| Median (48 companies) | 1.3x | 1.4x | 1.8x | 2.0x | 1.6x |
|---|
| New Look Vision Group Inc ($BCI) | 0.5x | 0.6x | 4.4x | 2.7x | 1.6x |
