Centric Health Corp reports 143% Net Income decline while 3.0% Revenue growth
07.03.2017 • About Centric Health Corp (
$CHH) • By InTwits
Centric Health Corp reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: It operates with medium-size leverage: Net Debt/EBITDA is 7.9x while industry average is 9.3x.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Centric Health Corp ($CHH) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 436.7 | 281.1 | 135.2 | 162.4 | 167.4 | 3.0% |
| Gross Profit | 215.6 | 110.2 | 48.4 | 58.0 | | -100.0% |
| SG&A | | | | 64.4 | | -100.0% |
| EBITDA | 37.6 | 25.4 | 22.7 | 16.4 | | -100.0% |
| Net Income | -7.3 | -91.1 | -57.4 | 46.1 | -19.8 | -143.0% |
Balance Sheet
|
|---|
| Cash | 0.6 | 0.0 | 0.2 | 14.9 | | -100.0% |
| Short Term Debt | 20.5 | 2.7 | 15.1 | 54.8 | | -100.0% |
| Long Term Debt | 191.4 | 257.7 | 240.3 | 215.2 | | -100.0% |
Cash flow
|
|---|
| Capex | 7.9 | 8.1 | 6.9 | 5.2 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 117.2% | -35.6% | -51.9% | 20.1% | 3.0% | |
| EBITDA growth | 106.3% | -32.4% | -10.6% | -28.1% | | |
| Gross Margin | 49.4% | 39.2% | 35.8% | 35.7% | | -35.7% |
| EBITDA Margin | 8.6% | 9.0% | 16.8% | 10.1% | 0.0% | -10.1% |
| Net Income Margin | -1.7% | -32.4% | -42.5% | 28.4% | -11.8% | -40.2% |
| SG&A, % of revenue | | | | 39.6% | | -39.6% |
| CAPEX, % of revenue | 1.8% | 2.9% | 5.1% | 3.2% | | -3.2% |
| ROIC | 0.8% | -3.1% | -2.8% | -4.5% | | 4.5% |
| ROE | -9.9% | -178.6% | | | | 0.0% |
| Net Debt/EBITDA | 5.6x | 10.2x | 11.2x | 15.6x | | -15.6x |
Centric Health Corp ($CHH) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 41 | 43 | 42 | 41 | 10.5% | 4.1% | 1.3% | |
| EBITDA | 2 | 0 | 3 | 3 | -26.2% | -92.1% | -45.2% | |
| Net Income | -10 | -11 | 3 | -2 | | | | |
Balance Sheet
|
|---|
| Cash | 11 | 4 | 5 | 0 | 47.7% | 74.5% | 119.5% | |
| Short Term Debt | 25 | 10 | 19 | 34 | 21.7% | -75.1% | -47.2% | |
| Long Term Debt | 62 | 79 | 68 | 62 | -74.4% | -64.3% | -69.5% | |
Ratios
|
|---|
| Gross Margin | 36.1% | 37.8% | 37.9% | 38.5% | -1.1% | -0.7% | 0.3% | |
| EBITDA Margin | 4.5% | 0.7% | 6.8% | 8.3% | -2.2% | -9.0% | -5.8% | |
| Net Income Margin | -24.3% | -26.4% | 7.8% | -4.0% | 9.0% | -9.7% | 19.8% | |
Revenue and profitability
Centric Health Corp's Revenue increased on 3.0%.
Net Income marign dropped on 40.2 pp from 28.4% to -11.8% in FY2016.
Appendix 1: Peers in Consumer, Non-cyclical
Below we provide Centric Health Corp benchmarking against other companies in Consumer, Non-cyclical industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Concordia Healthcare Corp ($CXR) | | | 159.5% | 275.7% | 107.0% |
| Heritage Global Inc ($HGP) | | -37.0% | 76.2% | 11.2% | 80.8% |
| EnerCare Inc ($ECI) | | 8.6% | 21.1% | 55.7% | 76.6% |
| CRH Medical Corp ($CRH) | | 12.5% | 56.0% | 284.2% | 70.2% |
| Nuvo Research Inc ($NRI) | | -25.3% | -29.1% | 57.0% | 31.9% |
| |
|---|
| Median (40 companies) | | 9.1% | 13.9% | 14.9% | 12.8% |
|---|
| Centric Health Corp ($CHH) | | -35.6% | -51.9% | 20.1% | 3.0% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cipher Pharmaceuticals Inc ($CPH) | | 99.5% | 98.3% | 92.7% | |
| Ritchie Bros Auctioneers Inc ($RBA) | 88.7% | 88.4% | 88.0% | 89.1% | 88.3% |
| Information Services Corp ($ISV) | 77.5% | 80.4% | 80.9% | 87.6% | 85.1% |
| Biosyent Inc ($RX) | 79.3% | 79.2% | 78.1% | 78.7% | |
| Concordia Healthcare Corp ($CXR) | | 79.4% | 86.0% | 76.1% | 72.9% |
| |
|---|
| Median (34 companies) | 29.5% | 35.0% | 35.6% | 33.8% | 31.1% |
|---|
| Centric Health Corp ($CHH) | 49.4% | 39.2% | 35.8% | 35.7% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| CRH Medical Corp ($CRH) | 21.0% | 24.5% | 29.1% | 44.1% | |
| Valeant Pharmaceuticals International Inc ($VRX) | 30.6% | 27.8% | 45.6% | 39.8% | 23.8% |
| Concordia Healthcare Corp ($CXR) | | 43.7% | 37.0% | 39.8% | -92.8% |
| Ritchie Bros Auctioneers Inc ($RBA) | 36.8% | 36.3% | 36.4% | 39.7% | 31.4% |
| EnerCare Inc ($ECI) | 52.8% | 51.0% | 45.5% | 39.3% | 26.6% |
| |
|---|
| Median (43 companies) | 9.9% | 12.8% | 12.7% | 12.7% | 10.1% |
|---|
| Centric Health Corp ($CHH) | 8.6% | 9.0% | 16.8% | 10.1% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| ProMetic Life Sciences Inc ($PLI) | 2.1% | 33.6% | 34.6% | 23.3% | |
| EnerCare Inc ($ECI) | 25.7% | 26.5% | 23.6% | 20.7% | 15.5% |
| Black Diamond Group Ltd ($BDI) | 61.9% | 27.5% | 31.0% | 17.6% | |
| easyhome Ltd ($EH) | 32.2% | 25.6% | 21.6% | 16.9% | 12.7% |
| K-Bro Linen Inc ($KBL) | 10.0% | 19.0% | 11.4% | 16.6% | |
| |
|---|
| Median (42 companies) | 3.1% | 2.7% | 2.3% | 2.3% | 2.1% |
|---|
| Centric Health Corp ($CHH) | 1.8% | 2.9% | 5.1% | 3.2% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Information Services Corp ($ISV) | 71.8% | 72.8% | 58.9% | 38.1% | 27.6% |
| Colliers International Group Inc ($CIG) | 10.5% | 11.2% | 15.2% | 10.9% | 26.1% |
| Nuvo Research Inc ($NRI) | -11.6% | -17.4% | -37.9% | 12.9% | 20.8% |
| International Road Dynamics Inc ($IRD) | 0.9% | 6.7% | 4.4% | 10.6% | 16.5% |
| Premium Brands Holdings Corp ($PBH) | 10.3% | 9.9% | 6.9% | 12.6% | 15.3% |
| |
|---|
| Median (43 companies) | 8.8% | 9.2% | 8.5% | 7.5% | 8.0% |
|---|
| Centric Health Corp ($CHH) | 0.8% | -3.1% | -2.8% | -4.5% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Concordia Healthcare Corp ($CXR) | | -1.3x | 5.6x | 20.2x | |
| SunOpta Inc ($SOY) | 2.9x | 3.5x | 1.3x | 16.9x | 140.8x |
| Sienna Senior Living Inc ($SIA) | 9.5x | 11.8x | 9.2x | 9.1x | 9.1x |
| Valeant Pharmaceuticals International Inc ($VRX) | 9.5x | 10.4x | 4.0x | 7.3x | 12.7x |
| GDI Integrated Facility Services Inc ($GDI) | | | 3.5x | 5.2x | 3.5x |
| |
|---|
| Median (37 companies) | 2.8x | 2.2x | 3.3x | 2.3x | 2.8x |
|---|
| Centric Health Corp ($CHH) | 5.6x | 10.2x | 11.2x | 15.6x | |
