Fireswirl Technologies Inc Net Income jumped on 394% in 2015 while Revenue decreased on 5.9%
27.04.2016 • About Fireswirl Technologies Inc (
$FSW) • By InTwits
Fireswirl Technologies Inc reported 2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Fireswirl Technologies Inc doesn't have a profitable business model yet: 2015 ROIC is -12.3%
- The company operates at negative EBITDA Margin: -2.8%
- Fireswirl Technologies Inc motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for 2011-2015 was 0.0%. On average EBITDA Margin was -1.9% for the sames years0
- Fireswirl Technologies Inc has low CAPEX intensity: 5 year average CAPEX/Revenue was 0.2%.
- The company has unprofitable business model: ROIC is at -12.3%
- It operates with high leverage: Net Debt/EBITDA is 2.4x while industry average is -2.0x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Fireswirl Technologies Inc ($FSW) key annual financial indicators
| mln. CAD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 20.038 | 27.551 | 45.703 | 51.948 | 48.868 | -5.9% |
| Gross Profit | 1.639 | 2.828 | 3.476 | 6.447 | 9.837 | 52.6% |
| SG&A | | 1.137 | 1.025 | 1.488 | 1.635 | 9.8% |
| EBITDA | -0.905 | -0.090 | -0.159 | -1.249 | -1.358 | 8.7% |
| Net Income | -1.093 | -0.750 | -0.582 | -1.453 | 4.268 | -393.7% |
Balance Sheet
|
|---|
| Cash | 0.076 | 0.595 | 0.365 | 0.549 | 3.136 | 471.2% |
| Short Term Debt | 5.569 | 4.393 | 6.331 | 8.529 | 9.476 | 11.1% |
| Long Term Debt | | 0.000 | 0.000 | 0.000 | 0.000 | |
Cash flow
|
|---|
| Capex | 0.095 | 0.081 | 0.060 | 0.088 | 0.041 | -52.8% |
Ratios
|
|---|
| Revenue growth | -1.2% | 37.5% | 65.9% | 13.7% | -5.9% | |
| EBITDA growth | 62.9% | -90.0% | 76.6% | 684.8% | 8.7% | |
| Gross Margin | 8.2% | 10.3% | 7.6% | 12.4% | 20.1% | 7.7% |
| EBITDA Margin | -4.5% | -0.3% | -0.3% | -2.4% | -2.8% | -0.4% |
| Net Income Margin | -5.5% | -2.7% | -1.3% | -2.8% | 8.7% | 11.5% |
| SG&A, % of revenue | | 4.1% | 2.2% | 2.9% | 3.3% | 0.5% |
| CAPEX, % of revenue | 0.5% | 0.3% | 0.1% | 0.2% | 0.1% | -0.1% |
| ROIC | | | -4.8% | -15.8% | -12.3% | 3.5% |
| ROE | -86.8% | -73.2% | -67.3% | -261.9% | 178.0% | 439.9% |
Revenue and profitability
Fireswirl Technologies Inc's Revenue decreased on 5.9% in 2015. EBITDA Margin showed almost no change in 2015.
Gross Margin increased on 7.7 pp from 12.4% to 20.1% in 2015. SG&A as a % of Revenue showed almost no change in 2015.
Net Income marign surged on 11.5 pp from -2.8% to 8.7% in 2015.
Capital expenditures (CAPEX) and working capital investments
The company's CAPEX/Revenue was 0.085% in 2015. Fireswirl Technologies Inc showed almost no change in CAPEX/Revenue from 2012 to 2015. It's average CAPEX/Revenue for the last three years was 0.13%.
Return on investment
The company operates at negative ROIC (-12.34%) and low but positive ROE (178.05%). ROIC increased on 3.5 pp from -15.8% to -12.3% in 2015. ROE surged on 440 pp from -262% to 178% in 2015.
Leverage (Debt)
Debt level is 2.4x Net Debt / EBITDA and Debt / EBITDA. Net Debt / EBITDA didn't change in 2015. Debt jumped on 11.1% in 2015 while cash surged on 471% in 2015.
Appendix 1: Peers in Technology
Below we provide Fireswirl Technologies Inc benchmarking against other companies in Technology 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 |
|---|
| Smart Employee Benefits Inc ($SEB) | | | | 97.2% | 151.5% |
| Sylogist Ltd ($SYZ) | | -5.8% | 25.7% | 50.5% | 56.1% |
| ProntoForms Corp ($PFM) | | 59.9% | 75.4% | 43.9% | 46.4% |
| Bluedrop Performance Learning Inc ($BPL) | | 1,966.4% | 13.9% | 33.5% | 37.5% |
| iLOOKABOUT Corp ($ILA) | | 19.6% | 8.9% | 58.8% | 32.3% |
| |
|---|
| Median (33 companies) | 25.1% | 3.6% | 11.4% | 15.2% | 12.9% |
|---|
| Fireswirl Technologies Inc ($FSW) | | 37.5% | 65.9% | 13.7% | -5.9% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Constellation Software Inc/Canada ($CSU) | 85.5% | 86.2% | 85.5% | 86.1% | 86.2% |
| Absolute Software Corp ($ABT) | 71.6% | 73.6% | 76.3% | 78.4% | 81.1% |
| ProntoForms Corp ($PFM) | 90.1% | 96.1% | 98.1% | 98.0% | 79.4% |
| Sandvine Corp ($SVC) | 74.3% | 67.5% | 74.1% | 76.8% | 77.8% |
| Espial Group Inc ($ESP) | 77.9% | 77.5% | 81.7% | 78.5% | 74.3% |
| |
|---|
| Median (30 companies) | 50.9% | 59.2% | 50.9% | 51.7% | 52.4% |
|---|
| Fireswirl Technologies Inc ($FSW) | 8.2% | 10.3% | 7.6% | 12.4% | 20.1% |
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Wi-LAN Inc ($WIN) | 26.5% | 40.9% | 12.2% | 56.2% | 53.2% |
| Computer Modelling Group Ltd ($CMG) | 51.5% | 53.8% | 52.2% | 51.5% | 50.8% |
| Sandvine Corp ($SVC) | 5.1% | 0.9% | 24.0% | 28.2% | 35.1% |
| Open Text Corp ($OTC) | 27.1% | 26.5% | 29.1% | 30.0% | 31.8% |
| Kinaxis Inc ($KXS) | 31.3% | 18.7% | 23.0% | 19.2% | 28.0% |
| |
|---|
| Median (32 companies) | 8.5% | 8.5% | 5.5% | 7.0% | 9.4% |
|---|
| Fireswirl Technologies Inc ($FSW) | -4.5% | -0.3% | -0.3% | -2.4% | -2.8% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Sandvine Corp ($SVC) | 7.3% | 4.9% | 3.2% | 3.2% | 4.8% |
| Kinaxis Inc ($KXS) | 2.2% | 2.9% | 2.3% | 5.0% | 4.7% |
| Open Text Corp ($OTC) | 3.5% | 2.1% | 1.7% | 2.6% | 4.2% |
| Absolute Software Corp ($ABT) | 1.8% | 1.7% | 1.2% | 1.9% | 3.1% |
| Halogen Software Inc ($HGN) | | 4.9% | 9.0% | 8.4% | 2.9% |
| |
|---|
| Median (33 companies) | 1.3% | 1.6% | 1.5% | 1.3% | 1.4% |
|---|
| Fireswirl Technologies Inc ($FSW) | 0.5% | 0.3% | 0.1% | 0.2% | 0.1% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Bluedrop Performance Learning Inc ($BPL) | -870.7% | 10.0% | -38.2% | -29.9% | 66.5% |
| Computer Modelling Group Ltd ($CMG) | 75.5% | 74.2% | 68.6% | 62.9% | 63.5% |
| Kinaxis Inc ($KXS) | | | 61.8% | 63.6% | 44.0% |
| SMART Technologies Inc ($SMA) | 43.2% | 21.4% | -18.9% | 28.1% | 43.8% |
| Constellation Software Inc/Canada ($CSU) | 45.8% | 45.9% | 22.4% | 24.7% | 38.5% |
| |
|---|
| Median (33 companies) | 5.1% | 2.9% | -5.4% | 0.5% | 4.1% |
|---|
| Fireswirl Technologies Inc ($FSW) | | | -4.8% | -15.8% | -12.3% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Mad Catz Interactive Inc ($MCZ) | 0.7x | 32.2x | 1.2x | | 9.4x |
| Mitel Networks Corp ($MNW) | 4.9x | 3.7x | 3.8x | 2.6x | 6.2x |
| BlackBerry Ltd ($BB) | | -0.5x | -2.3x | | 1.7x |
| Open Text Corp ($OTC) | 0.0x | 0.1x | 0.2x | 1.8x | 1.5x |
| SMART Technologies Inc ($SMA) | 1.4x | 2.1x | | 1.2x | 1.3x |
| |
|---|
| Median (21 companies) | -0.2x | -0.4x | -0.4x | -1.3x | -1.4x |
|---|
