Nobilis Health Corp reports 87.3% Net Income decline while 24.7% Revenue growth
13.03.2017 • About Nobilis Health Corp (
$NHC) • By InTwits
Nobilis Health Corp reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Nobilis Health Corp ($NHC) key annual financial indicators
| mln. $ | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 20.9 | 31.1 | 84.0 | 229.2 | 285.7 | 24.7% |
| Gross Profit | | | 83.8 | | | |
| SG&A | 6.2 | 12.9 | 35.9 | 102.1 | | -100.0% |
| EBITDA | 6.2 | 5.4 | 22.5 | 36.3 | | -100.0% |
| Net Income | 1.2 | 1.4 | 6.7 | 50.8 | 6.4 | -87.3% |
Balance Sheet
|
|---|
| Cash | 4.2 | 5.6 | 7.6 | 15.7 | | -100.0% |
| Short Term Debt | 0.0 | 1.7 | 9.7 | 6.4 | | -100.0% |
| Long Term Debt | 1.7 | 0.2 | 11.2 | 38.1 | | -100.0% |
Cash flow
|
|---|
| Capex | 0.3 | 1.2 | 2.0 | 4.4 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 45.3% | 49.0% | 169.9% | 172.8% | 24.7% | |
| EBITDA growth | -802.9% | -12.9% | 315.7% | 61.7% | | |
| Gross Margin | | | 99.8% | | | 0.0% |
| EBITDA Margin | 29.7% | 17.4% | 26.7% | 15.9% | 0.0% | -15.9% |
| Net Income Margin | 5.7% | 4.5% | 8.0% | 22.2% | 2.3% | -19.9% |
| SG&A, % of revenue | 29.5% | 41.4% | 42.7% | 44.5% | | -44.5% |
| CAPEX, % of revenue | 1.4% | 3.8% | 2.4% | 1.9% | | -1.9% |
| ROIC | 49.4% | 29.7% | 39.0% | 24.5% | | -24.5% |
| ROE | 33.7% | 17.8% | 23.4% | 58.9% | | -58.9% |
| Net Debt/EBITDA | -0.4x | -0.7x | 0.6x | 0.8x | | -0.8x |
Nobilis Health Corp ($NHC) key quoterly financial indicators
| mln. $ | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 51 | 62 | 71 | 102 | 35.5% | 26.6% | 34.7% | 12.3% |
| EBITDA | -7 | 2 | 1 | 23 | -256.4% | -0.4% | -79.9% | |
| Net Income | -5 | 5 | -3 | 9 | | | -125.2% | -78.1% |
Balance Sheet
|
|---|
| Cash | 16 | 19 | 20 | 25 | 39.5% | -40.6% | -7.0% | 56.8% |
| Short Term Debt | 7 | 8 | 4 | 6 | 644.2% | 291.6% | 15.5% | -3.6% |
| Long Term Debt | 37 | 38 | 44 | 78 | 92.7% | 75.4% | 68.9% | 104.5% |
Ratios
|
|---|
| EBITDA Margin | -13.9% | 3.4% | 1.3% | 22.5% | -25.9% | -0.9% | -7.5% | 22.5% |
| Net Income Margin | -9.7% | 7.8% | -3.9% | 9.2% | 2.2% | 8.5% | -24.8% | -37.9% |
Revenue and profitability
The company's Revenue surged on 24.7%. Revenue growth showed slow down in FY16Q4 - it was 12.3% YoY.
Net Income marign dropped on 19.9 pp from 22.2% to 2.3% in FY2016.
Management team
Harry Joseph Fleming is a the company's CEO. Harry Joseph Fleming is a founder and has spent 2 years at the company. The company's CFO David P Young has spent 1 year at the company.
Appendix 1: Peers in Consumer, Non-cyclical
Below you can find Nobilis Health Corp 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 ($NRI) | | -25.3% | -29.1% | 57.0% | 31.9% |
| |
|---|
| Median (40 companies) | | 8.5% | 13.7% | 14.9% | 12.6% |
|---|
| Nobilis Health Corp ($NHC) | | 49.0% | 169.9% | 172.8% | 24.7% |
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 ($CXR) | | 79.4% | 86.0% | 76.1% | 72.9% |
| |
|---|
| Median (35 companies) | 32.5% | 37.1% | 35.6% | 35.7% | 31.1% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| CRH Medical Corp ($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% |
|---|
| Nobilis Health Corp ($NHC) | 29.7% | 17.4% | 26.7% | 15.9% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| ProMetic Life Sciences Inc ($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% | 2.4% | 2.1% |
|---|
| Nobilis Health Corp ($NHC) | 1.4% | 3.8% | 2.4% | 1.9% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Information Services Corp ($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% |
|---|
| Nobilis Health Corp ($NHC) | 49.4% | 29.7% | 39.0% | 24.5% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Concordia Healthcare Corp ($CXR) | | -1.3x | 5.6x | 20.2x | |
| SunOpta Inc ($SOY) | 2.9x | 3.5x | 1.3x | 16.9x | 140.8x |
| Centric Health Corp ($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) | 2.9x | 2.3x | 3.5x | 2.8x | 2.8x |
|---|
| Nobilis Health Corp ($NHC) | -0.4x | -0.7x | 0.6x | 0.8x | |
