Ag Growth International Inc revenue jumped on 21.6% in 2016
15.03.2017 • About Ag Growth International Inc (
$AFN) • By InTwits
Ag Growth International Inc reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is declining: in FY2016 vs. 4.5% in FY2015 vs. 15.6% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Ag Growth International Inc ($AFN) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 314.3 | 356.8 | 400.1 | 449.5 | 546.6 | 21.6% |
| Gross Profit | 95.1 | 111.7 | 123.6 | 119.0 | | -100.0% |
| SG&A | | 63.5 | 73.8 | 102.7 | | -100.0% |
| EBITDA | 49.1 | 58.2 | 61.8 | 20.4 | | -100.0% |
| Net Income | 17.2 | 22.6 | 4.1 | -25.2 | 19.3 | |
Balance Sheet
|
|---|
| Cash | 2.2 | 108.7 | 25.3 | 58.2 | | -100.0% |
| Short Term Debt | 0.0 | 0.0 | 49.2 | 34.8 | | -100.0% |
| Long Term Debt | 144.5 | 104.4 | 108.4 | 311.1 | | -100.0% |
Cash flow
|
|---|
| Capex | 4.7 | 14.3 | 17.4 | 39.6 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 2.7% | 13.5% | 12.2% | 12.3% | 21.6% | |
| EBITDA growth | -12.7% | 18.6% | 6.1% | -67.0% | | |
| Gross Margin | 30.3% | 31.3% | 30.9% | 26.5% | | -26.5% |
| EBITDA Margin | 15.6% | 16.3% | 15.4% | 4.5% | 0.0% | -4.5% |
| Net Income Margin | 5.5% | 6.3% | 1.0% | -5.6% | 3.5% | 9.1% |
| SG&A, % of revenue | | 17.8% | 18.4% | 22.8% | | -22.8% |
| CAPEX, % of revenue | 1.5% | 4.0% | 4.3% | 8.8% | | -8.8% |
| ROIC | 12.8% | 16.3% | 15.2% | 0.6% | | -0.6% |
| ROE | 8.8% | 11.7% | 2.0% | -11.3% | | 11.3% |
| Net Debt/EBITDA | 2.9x | -0.1x | 2.1x | 14.1x | | -14.1x |
Ag Growth International Inc ($AFN) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 118 | 145 | 159 | 120 | 35.0% | 22.9% | 38.1% | 27.6% |
| EBITDA | 17 | 18 | 30 | 9 | 130.5% | -1.3% | 733.1% | 65.6% |
| Net Income | 6 | 5 | 13 | -5 | | -35.3% | | |
Balance Sheet
|
|---|
| Cash | 36 | 28 | 36 | 3 | | 357.9% | 9.2% | -95.2% |
| Short Term Debt | 33 | 33 | 33 | 0 | -40.0% | 14,616.3% | 13,666.3% | -99.0% |
| Long Term Debt | 312 | 312 | 329 | 409 | 180.0% | -6.7% | -7.7% | 31.6% |
Ratios
|
|---|
| Gross Margin | 31.4% | 29.7% | 31.1% | 27.8% | 2.1% | -1.2% | 6.8% | 1.9% |
| EBITDA Margin | 14.2% | 12.8% | 19.2% | 7.8% | 5.9% | -3.1% | 16.0% | 1.8% |
| Net Income Margin | 4.8% | 3.7% | 8.2% | -3.9% | 8.7% | -3.3% | 15.7% | 18.7% |
Revenue and profitability
The company's Revenue surged on 21.6%. Revenue growth showed acceleration in FY16Q4 - it increased 27.6% YoY.
Net Income marign increased on 9.1 pp from -5.6% to 3.5% in FY2016.
Appendix 1: Peers in Industrial
Below you can find Ag Growth International Inc benchmarking vs. other companies in Industrial industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Progressive Waste Solutions Ltd ($BIN) | | 16.1% | 7.8% | 1.8% | 59.4% |
| Baylin Technologies Inc ($BYL) | | 16.5% | -44.0% | -4.1% | 47.5% |
| CCL Industries Inc ($CCL.B) | | 44.4% | 36.8% | 17.5% | 30.8% |
| Stantec Inc ($STN) | | 17.9% | 13.3% | 14.4% | 30.5% |
| Avigilon Corp ($AVO) | | 72.6% | 41.9% | 17.7% | 22.2% |
| |
|---|
| Median (51 companies) | | 4.9% | 9.9% | 7.7% | 2.6% |
|---|
| Ag Growth International Inc ($AFN) | | 13.5% | 12.2% | 12.3% | 21.6% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Pure Technologies Ltd ($PUR) | 77.9% | 78.0% | 77.5% | 75.6% | |
| WSP Global Inc ($WSP) | 81.1% | 83.2% | 81.0% | 74.0% | 76.7% |
| Avigilon Corp ($AVO) | 49.3% | 54.2% | 56.6% | 57.4% | 52.0% |
| Stantec Inc ($STN) | 55.0% | 54.7% | 54.9% | 54.5% | 54.1% |
| IWG Technologies Inc ($IWG) | 53.3% | 54.0% | 49.0% | 47.8% | 54.9% |
| |
|---|
| Median (49 companies) | 23.4% | 23.4% | 20.9% | 21.5% | 22.2% |
|---|
| Ag Growth International Inc ($AFN) | 30.3% | 31.3% | 30.9% | 26.5% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Canadian National Railway Co ($CNR) | 46.5% | 45.9% | 46.8% | 50.9% | 54.3% |
| Canadian Pacific Railway Ltd ($CP) | 26.1% | 32.4% | 43.7% | 48.9% | 51.6% |
| Badger Daylighting Ltd ($BAD) | 25.7% | 25.9% | 27.9% | 24.6% | 24.2% |
| IWG Technologies Inc ($IWG) | 12.7% | 25.5% | 20.0% | 24.0% | 26.9% |
| Winpak Ltd ($WPK) | 19.5% | 18.6% | 18.7% | 22.7% | 23.5% |
| |
|---|
| Median (53 companies) | 10.2% | 8.3% | 8.0% | 9.5% | 11.1% |
|---|
| Ag Growth International Inc ($AFN) | 15.6% | 16.3% | 15.4% | 4.5% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Newalta Corp ($NAL) | 21.7% | 34.5% | 35.1% | 42.0% | 9.6% |
| Cargojet Inc ($CJT.A) | 7.0% | 6.3% | 54.1% | 41.3% | |
| Algoma Central Corp ($ALC) | 15.9% | 7.3% | 5.0% | 27.4% | 58.2% |
| Canadian Pacific Railway Ltd ($CP) | 20.2% | 20.2% | 21.9% | 22.7% | 19.0% |
| Canadian National Railway Co ($CNR) | 17.4% | 18.7% | 18.9% | 21.5% | 22.4% |
| |
|---|
| Median (54 companies) | 3.2% | 3.6% | 4.4% | 3.7% | 4.3% |
|---|
| Ag Growth International Inc ($AFN) | 1.5% | 4.0% | 4.3% | 8.8% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| IBI Group Inc ($IBG) | 4.8% | -9.0% | 11.6% | 21.9% | 26.2% |
| IWG Technologies Inc ($IWG) | 17.0% | 36.3% | 23.4% | 27.2% | 25.7% |
| Winpak Ltd ($WPK) | 20.4% | 18.0% | 18.3% | 22.6% | 21.8% |
| Toromont Industries Ltd ($TIH) | 28.8% | 25.8% | 24.3% | 23.5% | 21.7% |
| Intertape Polymer Group Inc ($ITP) | 12.3% | 13.7% | 22.5% | 23.0% | 21.0% |
| |
|---|
| Median (55 companies) | 12.2% | 9.6% | 11.0% | 8.9% | 9.0% |
|---|
| Ag Growth International Inc ($AFN) | 12.8% | 16.3% | 15.2% | 0.6% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Conifex Timber Inc ($CFF) | | 2.7x | 6.1x | 35.9x | 3.6x |
| Cargojet Inc ($CJT.A) | 1.5x | 1.5x | 31.5x | 12.9x | |
| Progressive Waste Solutions Ltd ($BIN) | 4.5x | 3.3x | 2.9x | 10.6x | 3.8x |
| Finning International Inc ($FTT) | 2.3x | 1.8x | 1.4x | 9.4x | 2.5x |
| ENTREC Corp ($ENT) | 3.4x | 2.6x | 4.1x | 8.4x | |
| |
|---|
| Median (49 companies) | 1.5x | 1.6x | 1.2x | 1.0x | 1.9x |
|---|
| Ag Growth International Inc ($AFN) | 2.9x | -0.1x | 2.1x | 14.1x | |
