Jaguar Mining Inc revenue returned to growth in FY2016: increased 13.2% vs. 8.5% decline a year earliner
21.03.2017 • About Jaguar Mining Inc (
$JAG) • By InTwits
Jaguar Mining Inc reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Jaguar Mining Inc motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0%. On average EBITDA Margin was -35.2% for the sames years0
- It operates with high leverage: Net Debt/EBITDA is 8.6x while industry average is 0.8x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Jaguar Mining Inc ($JAG) key annual financial indicators
| mln. $ | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 172.4 | 134.1 | 116.4 | 106.5 | 120.5 | 13.2% |
| Gross Profit | 44.6 | 12.8 | -4.6 | 22.7 | | -100.0% |
| SG&A | 18.9 | 16.7 | 12.9 | 10.9 | | -100.0% |
| EBITDA | 19.3 | -161.2 | -95.3 | 8.1 | | -100.0% |
| Net Income | -84.5 | -249.3 | 130.9 | -11.2 | -82.8 | |
Balance Sheet
|
|---|
| Cash | 13.9 | 9.0 | 7.2 | 15.3 | | -100.0% |
| Short Term Debt | 27.4 | 316.1 | 29.4 | 13.6 | | -100.0% |
| Long Term Debt | 244.6 | 5.9 | 1.5 | 27.6 | | -100.0% |
Cash flow
|
|---|
| Capex | 52.8 | 23.8 | 22.4 | 18.9 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -29.1% | -22.2% | -13.3% | -8.5% | 13.2% | |
| EBITDA growth | -63.8% | -933.7% | -40.9% | -108.5% | | |
| Gross Margin | 25.9% | 9.5% | -3.9% | 21.3% | | -21.3% |
| EBITDA Margin | 11.2% | -120.2% | -81.9% | 7.6% | 0.0% | -7.6% |
| Net Income Margin | -49.0% | -185.9% | 112.5% | -10.5% | -68.7% | -58.2% |
| SG&A, % of revenue | 11.0% | 12.4% | 11.1% | 10.2% | | -10.2% |
| CAPEX, % of revenue | 30.6% | 17.8% | 19.3% | 17.7% | | -17.7% |
| ROIC | -4.0% | -55.3% | -64.1% | -6.1% | | 6.1% |
| ROE | -43.2% | | | -11.5% | | 11.5% |
| Net Debt/EBITDA | 13.3x | | | 3.2x | | -3.2x |
Jaguar Mining Inc ($JAG) key quoterly financial indicators
| mln. $ | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 27 | 30 | 34 | 30 | -7.2% | 31.4% | 19.5% | 12.8% |
| EBITDA | 16 | 8 | 14 | 4 | | 712.2% | 153.2% | -6.6% |
| Net Income | -15 | -27 | -32 | -9 | | | -812.0% | -655.0% |
Balance Sheet
|
|---|
| Cash | 18 | 18 | 17 | 26 | 75.6% | 267.1% | 498.1% | 71.7% |
| Short Term Debt | 13 | 12 | 12 | 15 | -51.0% | -47.9% | -47.6% | 11.7% |
| Long Term Debt | 48 | 74 | 66 | 7 | 3,183.2% | 5,145.1% | 4,871.2% | -73.1% |
Ratios
|
|---|
| Gross Margin | 5.2% | 12.4% | 23.6% | 2.5% | -2.5% | 0.2% | -1.3% | -37.4% |
| EBITDA Margin | 59.6% | 25.5% | 40.6% | 14.4% | 69.6% | 21.3% | 21.4% | -3.0% |
| Net Income Margin | -56.3% | -89.6% | -94.1% | -30.7% | -11.2% | -70.4% | -109.9% | -36.9% |
Revenue and profitability
The company's Revenue jumped on 13.2%. Revenue growth showed slow down in FY16Q4 - it was 12.8% YoY.
Net Income marign dropped on 58.2 pp from -10.5% to -68.7% in FY2016.
Management team
Jaguar Mining Inc's CEO is Rodney D Lamond "Rod". Rodney D Lamond "Rod" is a founder and has 2 years tenure at the company. Hashim Ahmed is a The company's CFO. Hashim Ahmed has spent 2 years at the company.
Appendix 1: Peers in Basic Materials
Below we provide Jaguar Mining Inc benchmarking against other companies in Basic Materials 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 |
|---|
| Avino Silver & Gold Mines Ltd ($ASM) | | 613.6% | 19.9% | -1.1% | 109.1% |
| Trevali Mining Corp ($TV) | | | | 12.9% | 86.4% |
| Geodrill Ltd ($GEO) | | -43.3% | -4.3% | 34.6% | 53.1% |
| Tahoe Resources Inc ($THO) | | | | 48.4% | 50.9% |
| Osisko Gold Royalties Ltd ($OR) | | | | 164.4% | 38.0% |
| |
|---|
| Median (82 companies) | 100.8% | -2.5% | 2.0% | -1.7% | 5.7% |
|---|
| Jaguar Mining Inc ($JAG) | | -22.2% | -13.3% | -8.5% | 13.2% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Nevsun Resources Ltd ($NSU) | 89.9% | 94.8% | 95.5% | 82.3% | 79.7% |
| Labrador Iron Ore Royalty Corp ($LIF) | 80.2% | 80.2% | 80.2% | 80.3% | 80.3% |
| Lucara Diamond Corp ($LUC) | 42.5% | 57.4% | 66.7% | 60.9% | 65.6% |
| Trevali Mining Corp ($TV) | | | 49.0% | 59.3% | |
| Perseus Mining Ltd ($PRU) | 52.5% | 50.9% | 32.0% | 53.7% | 26.3% |
| |
|---|
| Median (94 companies) | 32.2% | 22.7% | 19.1% | 16.4% | 24.8% |
|---|
| Jaguar Mining Inc ($JAG) | 25.9% | 9.5% | -3.9% | 21.3% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Labrador Iron Ore Royalty Corp ($LIF) | | | | 72.8% | 73.5% |
| Silver Wheaton Corp ($SLW) | 82.6% | 75.3% | 69.6% | 65.8% | 59.7% |
| Franco-Nevada Corp ($FNV) | 62.1% | 44.6% | 72.3% | 60.8% | 70.3% |
| Lucara Diamond Corp ($LUC) | 7.6% | 57.3% | 57.5% | 60.0% | 62.4% |
| Sandstorm Gold Ltd ($SSL) | 74.3% | 49.9% | 62.1% | 56.5% | 64.6% |
| |
|---|
| Median (100 companies) | 18.6% | 11.5% | 10.7% | 6.7% | 23.5% |
|---|
| Jaguar Mining Inc ($JAG) | 11.2% | -120.2% | -81.9% | 7.6% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Largo Resources Ltd ($LGO) | | | | 567.6% | |
| Sandstorm Gold Ltd ($SSL) | 152.1% | 118.8% | 49.4% | 412.7% | 17.3% |
| Silver Wheaton Corp ($SLW) | 75.5% | 286.8% | 22.5% | 279.2% | 90.3% |
| Franco-Nevada Corp ($FNV) | 3.7% | 35.5% | 201.6% | 230.0% | 122.4% |
| Avino Silver & Gold Mines Ltd ($ASM) | 211.7% | 5.6% | 89.8% | 163.3% | |
| |
|---|
| Median (100 companies) | 27.4% | 27.4% | 17.5% | 16.6% | 17.9% |
|---|
| Jaguar Mining Inc ($JAG) | 30.6% | 17.8% | 19.3% | 17.7% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Lucara Diamond Corp ($LUC) | -2.9% | 41.3% | 54.7% | 39.6% | 58.5% |
| Western Forest Products Inc ($WEF) | 9.0% | 25.1% | 15.7% | 16.4% | 25.1% |
| Geodrill Ltd ($GEO) | 8.6% | -3.5% | -9.3% | 3.6% | 20.3% |
| Supremex Inc ($SXP) | 14.1% | 18.5% | 16.5% | 23.4% | 19.3% |
| Canfor Pulp Products Inc ($CFX) | 4.9% | 13.2% | 21.3% | 24.1% | 17.0% |
| |
|---|
| Median (99 companies) | 4.9% | 1.3% | 1.6% | -3.6% | 4.4% |
|---|
| Jaguar Mining Inc ($JAG) | -4.0% | -55.3% | -64.1% | -6.1% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Canam Group Inc ($CAM) | 4.2x | 2.6x | 3.2x | 1.8x | 13.9x |
| Taseko Mines Ltd ($TKO) | 7.4x | 5.9x | 10.2x | 5.9x | 11.0x |
| Methanex Corp ($MX) | 5.2x | 0.7x | 0.9x | 3.0x | 5.2x |
| Copper Mountain Mining Corp ($CUM) | 3.9x | 5.0x | 5.4x | 30.6x | 5.1x |
| Cameco Corp ($CCO) | 2.0x | 2.1x | 2.5x | 1.9x | 5.1x |
| |
|---|
| Median (58 companies) | 0.3x | 0.8x | 1.1x | 1.5x | 0.6x |
|---|
