Chinook Energy Inc revenue decline decelerated from 55.5% in FY2015 to 27.2% in FY2016
23.03.2017 • About Chinook Energy Inc (
$CKE) • By InTwits
Chinook Energy Inc reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: Chinook Energy Inc is a company in decline: FY2016 revenue growth was -27.2%, 5 years revenue CAGR was -28.3%.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Chinook Energy Inc ($CKE) key annual financial indicators
| mln. | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 189.7 | 108.6 | 124.0 | 55.2 | 40.1 | -27.2% |
| Gross Profit | 5.6 | 4.1 | 18.8 | 18.5 | | -100.0% |
| SG&A | | | | 9.8 | | -100.0% |
| EBITDA | 78.2 | 40.0 | 50.4 | -48.0 | | |
| Net Income | -91.0 | -26.7 | -38.4 | -83.6 | -54.8 | |
Balance Sheet
|
|---|
| Cash | 30.6 | 26.0 | 46.0 | 37.9 | | -100.0% |
| Short Term Debt | 3.9 | 0.0 | 0.0 | 0.0 | | |
| Long Term Debt | 89.1 | 75.9 | 0.0 | 0.0 | | |
Cash flow
|
|---|
| Capex | 79.7 | 42.6 | 80.7 | 44.3 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -10.2% | -42.7% | 14.1% | -55.5% | -27.2% | |
| EBITDA growth | -2.6% | -48.8% | 26.1% | -195.2% | | |
| Gross Margin | 3.0% | 3.7% | 15.2% | 33.6% | | -33.6% |
| EBITDA Margin | 41.2% | 36.8% | 40.7% | -87.1% | 0.0% | 87.1% |
| Net Income Margin | -48.0% | -24.6% | -31.0% | -151.6% | -136.5% | 15.1% |
| SG&A, % of revenue | | | | 17.8% | | -17.8% |
| CAPEX, % of revenue | 42.0% | 39.2% | 65.1% | 80.4% | | -80.4% |
| ROIC | -3.9% | -2.4% | 0.5% | -33.0% | | 33.0% |
| ROE | -23.4% | -8.0% | -12.6% | -34.6% | | 34.6% |
| Net Debt/EBITDA | 0.8x | 1.2x | -0.9x | | | 0.0x |
Chinook Energy Inc ($CKE) key quoterly financial indicators
| mln. | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 8 | 8 | 13 | 19 | -51.2% | -49.2% | 14.2% | 78.8% |
| Net Income | -13 | -13 | -36 | 6 | -256.0% | | | |
Balance Sheet
|
|---|
Ratios
|
|---|
| Net Income Margin | -157.6% | -152.4% | -272.8% | 33.1% | -206.9% | -116.4% | 427.0% | 81.9% |
Revenue and profitability
The company's Revenue dropped on 27.2%. Annual revenue decline showed slowdown in FY16Q4 - revenue jumped on 78.8%.
Net Income marign jumped on 15.1 pp from -152% to -136% in FY2016.
Appendix 1: Peers in Energy
Below you can find Chinook Energy Inc benchmarking vs. other companies in Energy industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($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) | | 16.2% | 17.0% | -27.7% | -18.0% |
|---|
| Chinook Energy Inc ($CKE) | | -42.7% | 14.1% | -55.5% | -27.2% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Americas Petrogas Inc ($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% |
|---|
| Chinook Energy Inc ($CKE) | 3.0% | 3.7% | 15.2% | 33.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Granite Oil Corp ($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) | 25.3% | 34.1% | 28.9% | 9.0% | 28.2% |
|---|
| Chinook Energy Inc ($CKE) | 41.2% | 36.8% | 40.7% | -87.1% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Oryx Petroleum Corp Ltd ($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% | 39.0% | 45.0% | 27.6% | 23.0% |
|---|
| Chinook Energy Inc ($CKE) | 42.0% | 39.2% | 65.1% | 80.4% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Enerplus Corp ($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% |
|---|
| Chinook Energy Inc ($CKE) | -3.9% | -2.4% | 0.5% | -33.0% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| BlackPearl Resources Inc ($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 (79 companies) | 1.6x | 1.5x | 1.4x | 2.6x | 2.7x |
|---|
