Pine Cliff Energy Ltd revenue surged on 50.5% in 2016
14.03.2017 • About Pine Cliff Energy Ltd (
$PNE) • By InTwits
Pine Cliff Energy Ltd reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Pine Cliff Energy Ltd ($PNE) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 6.2 | 33.4 | 70.3 | 73.8 | 111.1 | 50.5% |
| Gross Profit | 0.7 | 0.8 | 14.9 | -12.7 | | |
| SG&A | | | | 5.8 | | -100.0% |
| EBITDA | 0.5 | 11.5 | 36.6 | 16.4 | | -100.0% |
| Net Income | -1.1 | 10.9 | -1.9 | -24.3 | -50.4 | |
Balance Sheet
|
|---|
| Cash | 0.8 | 1.3 | 0.2 | 0.8 | | -100.0% |
| Short Term Debt | 3.0 | 0.2 | 47.8 | 0.0 | | |
| Long Term Debt | 0.0 | 0.0 | 0.0 | 155.9 | | -100.0% |
Cash flow
|
|---|
| Capex | 2.3 | 11.8 | 11.1 | 7.3 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 647.3% | 437.8% | 110.8% | 4.9% | 50.5% | |
| EBITDA growth | 30.6% | 2,398.0% | 218.0% | -55.3% | | |
| Gross Margin | 11.3% | 2.4% | 21.2% | -17.2% | | 17.2% |
| EBITDA Margin | 7.4% | 34.5% | 52.1% | 22.2% | 0.0% | -22.2% |
| Net Income Margin | -17.3% | 32.7% | -2.8% | -32.9% | -45.4% | -12.5% |
| SG&A, % of revenue | | | | 7.9% | | -7.9% |
| CAPEX, % of revenue | 37.1% | 35.4% | 15.8% | 9.8% | | -9.8% |
| ROIC | -6.3% | -6.3% | 5.5% | -10.5% | | 10.5% |
| ROE | -2.9% | 10.9% | -1.2% | -11.5% | | 11.5% |
| Net Debt/EBITDA | 4.8x | -0.1x | 1.3x | 9.5x | | -9.5x |
Pine Cliff Energy Ltd ($PNE) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 26 | 20 | 30 | 35 | 47.7% | 19.0% | 54.8% | 75.0% |
| EBITDA | 2 | -2 | 8 | 11 | -61.1% | -143.5% | | 77.0% |
| Net Income | -16 | -26 | -12 | 3 | | | | |
Balance Sheet
|
|---|
| Cash | 0 | 0 | 0 | 0 | 62.1% | -52.2% | -74.1% | -82.2% |
| Short Term Debt | 0 | 0 | 71 | 31 | -100.0% | -100.0% | | |
| Long Term Debt | 145 | 121 | 35 | 35 | | | -19.5% | -77.5% |
Ratios
|
|---|
| Gross Margin | -43.4% | -88.8% | -21.6% | 13.3% | -19.8% | -68.9% | -6.1% | 24.2% |
| EBITDA Margin | 8.6% | -10.8% | 27.2% | 31.7% | -24.1% | -40.4% | 30.3% | 0.4% |
| Net Income Margin | -62.6% | -130.2% | -38.4% | 9.1% | -31.2% | -101.7% | 16.6% | 25.5% |
Revenue and profitability
The company's Revenue jumped on 50.5%. Revenue growth showed acceleration in FY16Q4 - it increased 75.0% YoY.
Net Income marign dropped on 12.5 pp from -32.9% to -45.4% in FY2016.
Appendix 1: Peers in Energy
Below we provide Pine Cliff Energy Ltd benchmarking against other companies in Energy industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($OXC) | | | | -18.4% | 141.2% |
| Seven Generations Energy Ltd ($VII) | | 115.7% | 340.2% | 39.0% | 94.4% |
| Athabasca Oil Corp ($ATH) | | 342.7% | 5.5% | -22.9% | 73.1% |
| Painted Pony Petroleum Ltd ($PPY) | | 41.3% | 56.0% | -42.5% | 60.7% |
| ONEnergy Inc ($OEG) | | | 6,002.6% | 231.5% | 57.4% |
| |
|---|
| Median (116 companies) | | 15.4% | 16.9% | -29.5% | -19.1% |
|---|
| Pine Cliff Energy Ltd ($PNE) | | 437.8% | 110.8% | 4.9% | 50.5% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Americas Petrogas Inc ($BOE) | 77.1% | 43.3% | -34.3% | 121.1% | |
| TransAlta Renewables Inc ($RNW) | | 94.4% | 94.5% | 94.5% | 91.1% |
| Serinus Energy Inc ($SEN) | 80.5% | 76.5% | 86.8% | 88.5% | |
| Advantage Oil & Gas Ltd ($AAV) | 62.0% | 84.5% | 92.5% | 88.5% | 90.3% |
| Polaris Infrastructure Inc ($PIF) | 39.9% | 33.6% | 32.0% | 86.7% | 88.6% |
| |
|---|
| Median (114 companies) | 32.0% | 32.2% | 32.4% | 33.9% | 32.0% |
|---|
| Pine Cliff Energy Ltd ($PNE) | 11.3% | 2.4% | 21.2% | -17.2% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Granite Oil Corp ($GXO) | 59.4% | 64.5% | 70.8% | 201.9% | |
| Perpetual Energy Inc ($PMT) | 35.5% | 70.7% | 58.0% | 110.3% | |
| Petro Rio SA ($PRJ) | -4,809.7% | -6,899.7% | 28.2% | 90.7% | |
| Peyto Exploration & Development Corp ($PEY) | 86.1% | 83.2% | 86.3% | 84.6% | 80.7% |
| Innergex Renewable Energy Inc ($INE) | 111.8% | 110.0% | 82.9% | 83.4% | 83.5% |
| |
|---|
| Median (128 companies) | 25.9% | 35.3% | 28.9% | 8.1% | 28.2% |
|---|
| Pine Cliff Energy Ltd ($PNE) | 7.4% | 34.5% | 52.1% | 22.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($OXC) | | | 1,997.8% | 712.8% | |
| WesternZagros Resources Ltd ($WZR) | | | | 385.6% | |
| Athabasca Oil Corp ($ATH) | 2,426.4% | 596.6% | 504.7% | 315.2% | 83.7% |
| TORC Oil & Gas Ltd ($TOG) | 453.8% | 466.9% | 104.5% | 229.4% | 76.3% |
| Seven Generations Energy Ltd ($VII) | 452.8% | 513.1% | 227.4% | 191.2% | 73.5% |
| |
|---|
| Median (129 companies) | 43.8% | 39.2% | 45.6% | 28.1% | 23.0% |
|---|
| Pine Cliff Energy Ltd ($PNE) | 37.1% | 35.4% | 15.8% | 9.8% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Enerplus Corp ($ERF) | -17.3% | 10.2% | 11.5% | -55.5% | 16.3% |
| Whitecap Resources Inc ($WCP) | 7.1% | 8.1% | 9.6% | -10.6% | 10.1% |
| Ecopetrol SA ($ECP) | 29.3% | 24.4% | 16.5% | 3.0% | 9.6% |
| Parkland Fuel Corp ($PKI) | 22.3% | 23.3% | 9.9% | 7.8% | 8.6% |
| Inter Pipeline Ltd ($IPL) | 9.5% | 8.0% | 7.5% | 9.6% | 8.5% |
| |
|---|
| Median (128 companies) | 3.9% | 5.8% | 5.7% | -8.2% | -1.9% |
|---|
| Pine Cliff Energy Ltd ($PNE) | -6.3% | -6.3% | 5.5% | -10.5% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| BlackPearl Resources Inc ($PXX) | -0.2x | -0.1x | 0.2x | 3,726.1x | -0.2x |
| Paramount Resources Ltd ($POU) | 14.6x | 23.9x | 8.9x | 421.5x | -5.8x |
| Precision Drilling Corp ($PD) | 2.2x | 1.9x | 2.0x | 68.4x | 7.6x |
| Trican Well Service Ltd ($TCW) | 2.5x | 3.4x | 2.9x | 31.4x | |
| Trilogy Energy Corp ($TET) | 2.6x | 1.8x | 2.3x | 25.5x | 7.3x |
| |
|---|
| Median (78 companies) | 1.5x | 1.5x | 1.4x | 2.6x | 2.7x |
|---|
| Pine Cliff Energy Ltd ($PNE) | 4.8x | -0.1x | 1.3x | 9.5x | |
