Clearwater Seafoods Inc reports 217% Net Income growth and 21.1% Revenue growth
08.03.2017 • About Clearwater Seafoods Inc (
$CLR) • By InTwits
Clearwater Seafoods Inc reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Clearwater Seafoods Inc ($CLR) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 350.3 | 388.7 | 435.9 | 504.9 | 611.6 | 21.1% |
| Gross Profit | 72.5 | 87.4 | 94.0 | 132.2 | | -100.0% |
| SG&A | 32.5 | 39.0 | 48.3 | 51.4 | | -100.0% |
| EBITDA | 60.7 | 70.9 | 67.5 | 108.6 | | -100.0% |
| Net Income | 15.0 | 6.3 | -2.9 | -37.6 | 43.9 | |
Balance Sheet
|
|---|
| Cash | 41.5 | 46.8 | 47.6 | 51.1 | | -100.0% |
| Short Term Debt | 15.5 | 14.3 | 22.8 | 65.7 | | -100.0% |
| Long Term Debt | 238.3 | 243.0 | 250.2 | 415.1 | | -100.0% |
Cash flow
|
|---|
| Capex | 16.6 | 23.8 | 83.3 | 63.4 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 5.3% | 10.9% | 12.2% | 15.8% | 21.1% | |
| EBITDA growth | -2.1% | 16.7% | -4.7% | 60.8% | | |
| Gross Margin | 20.7% | 22.5% | 21.6% | 26.2% | | -26.2% |
| EBITDA Margin | 17.3% | 18.2% | 15.5% | 21.5% | 0.0% | -21.5% |
| Net Income Margin | 4.3% | 1.6% | -0.7% | -7.4% | 7.2% | 14.6% |
| SG&A, % of revenue | 9.3% | 10.0% | 11.1% | 10.2% | | -10.2% |
| CAPEX, % of revenue | 4.7% | 6.1% | 19.1% | 12.6% | | -12.6% |
| ROIC | 11.0% | 13.3% | 11.9% | 15.4% | | -15.4% |
| ROE | 21.9% | 8.2% | -3.2% | -33.8% | | 33.8% |
| Net Debt/EBITDA | 3.5x | 3.0x | 3.3x | 4.0x | | -4.0x |
Clearwater Seafoods Inc ($CLR) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 116 | 140 | 189 | 166 | 54.2% | 20.1% | 28.6% | 0.1% |
| EBITDA | 21 | 32 | 40 | 28 | 220.9% | 35.2% | -8.2% | -17.8% |
| Net Income | 15 | 10 | 11 | 9 | | 77.4% | | |
Balance Sheet
|
|---|
| Cash | 46 | 38 | 33 | 40 | 81.6% | -21.1% | -28.1% | -22.7% |
| Short Term Debt | 87 | 74 | 88 | 67 | 252.9% | 299.5% | 362.4% | 2.0% |
| Long Term Debt | 399 | 389 | 390 | 369 | 48.3% | 32.2% | 27.5% | -11.0% |
Ratios
|
|---|
| Gross Margin | 23.1% | 26.3% | 27.4% | 17.5% | 4.3% | 2.3% | -4.4% | -8.6% |
| EBITDA Margin | 18.3% | 22.8% | 21.4% | 16.9% | 9.5% | 2.6% | -8.6% | -3.7% |
| Net Income Margin | 12.5% | 7.1% | 5.7% | 5.2% | 54.1% | 2.3% | 9.0% | 9.5% |
Revenue and profitability
Clearwater Seafoods Inc's Revenue jumped on 21.1%. Revenue growth showed slow down in FY16Q4 - it was 0.1% YoY.
Net Income marign jumped on 14.6 pp from -7.4% to 7.2% in FY2016.
Appendix 1: Peers in Consumer, Non-cyclical
Below you can find Clearwater Seafoods Inc benchmarking vs. other companies in Consumer, Non-cyclical industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Concordia Healthcare Corp ($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) | | 8.5% | 13.9% | 14.9% | 12.6% |
|---|
| Clearwater Seafoods Inc ($CLR) | | 10.9% | 12.2% | 15.8% | 21.1% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Cipher Pharmaceuticals Inc ($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) | 35.4% | 39.2% | 35.8% | 36.1% | 31.1% |
|---|
| Clearwater Seafoods Inc ($CLR) | 20.7% | 22.5% | 21.6% | 26.2% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| CRH Medical Corp ($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) | 9.1% | 12.0% | 12.7% | 11.0% | 10.1% |
|---|
| Clearwater Seafoods Inc ($CLR) | 17.3% | 18.2% | 15.5% | 21.5% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| ProMetic Life Sciences Inc ($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% |
|---|
| Clearwater Seafoods Inc ($CLR) | 4.7% | 6.1% | 19.1% | 12.6% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Information Services Corp ($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) | 8.6% | 7.5% | 8.4% | 6.3% | 8.0% |
|---|
| Clearwater Seafoods Inc ($CLR) | 11.0% | 13.3% | 11.9% | 15.4% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Concordia Healthcare Corp ($CXR) | | -1.3x | 5.6x | 20.2x | |
| SunOpta Inc ($SOY) | 2.9x | 3.5x | 1.3x | 16.9x | 140.8x |
| Centric Health Corp ($CHH) | 5.6x | 10.2x | 11.2x | 15.6x | |
| 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 |
| |
|---|
| Median (37 companies) | 2.8x | 2.2x | 3.5x | 2.3x | 2.8x |
|---|
| Clearwater Seafoods Inc ($CLR) | 3.5x | 3.0x | 3.3x | 4.0x | |
