Asian Capital Holdings Ltd reports 607% Net Income growth and 31.7 pp EBITDA Margin growth from -5.5% to 26.2%
12/02/2016 • About Asian Capital Holdings Ltd (
$8295) • By InTwits
Asian Capital Holdings Ltd reported 2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- EBITDA Margin is quite volatile: 26.2% in 2015, -5.5% in 2014, 39.8% in 2013, 5.6% in 2012, 61.8% in 2011
- The company has potentially unprofitable business model: ROIC is at 6.3%
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Asian Capital Holdings Ltd ($8295) key annual financial indicators
| mln. | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 60.540 | 23.616 | 49.287 | 24.416 | 36.356 | 48.9% |
| EBITDA | 37.417 | 1.334 | 19.609 | -1.348 | 9.529 | -806.9% |
| Net Income | 20.726 | -1.619 | 8.635 | -1.331 | 6.751 | -607.2% |
Balance Sheet
|
|---|
| Cash | 55.045 | 51.649 | 87.122 | 53.578 | 47.870 | -10.7% |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
| Long Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
Cash flow
|
|---|
| Capex | 1.370 | 0.035 | 0.109 | 3.818 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 164.5% | -61.0% | 108.7% | -50.5% | 48.9% | |
| EBITDA growth | 5,192.4% | -96.4% | 1,369.9% | -106.9% | -806.9% | |
| EBITDA Margin | 61.8% | 5.6% | 39.8% | -5.5% | 26.2% | 31.7% |
| Net Income Margin | 34.2% | -6.9% | 17.5% | -5.5% | 18.6% | 24.0% |
| CAPEX, % of revenue | 2.3% | 0.1% | 0.2% | 15.6% | | -15.6% |
| ROIC | 45.4% | 0.9% | 15.6% | -1.6% | 6.3% | 7.9% |
| ROE | 25.5% | -1.5% | 7.0% | -1.0% | 5.0% | 6.1% |
| Net Debt/EBITDA | -1.5x | -38.7x | -4.4x | | -5.0x | -5.0x |
Revenue and profitability
Asian Capital Holdings Ltd's Revenue jumped on 48.9% in 2015. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin jumped on 40.1 pp from 32.0% to 72.1% in 2015.
Net Income marign surged on 24.0 pp from -5.5% to 18.6% in 2015.
Return on investment
The company operates at low ROIC (6.29%) and ROE (5.03%). ROIC increased on 7.9 pp from -1.6% to 6.3% in 2015. ROE increased on 6.1 pp from -1.0% to 5.0% in 2015.
Leverage (Debt)
The company has no debt. Cash dropped on 10.7% in 2015.
Appendix 1: Peers in Diversified Finan Serv
Below we provide Asian Capital Holdings Ltd benchmarking against other companies in Diversified Finan Serv 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 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| China New Energy Power Group Ltd ($1041) | | 100.0% | 0.0% | 64,246.0% | |
| ReOrient Group Ltd ($376) | 63.3% | 112.8% | 75.1% | 1,106.9% | |
| Global Strategic Group Ltd ($8007) | 2.2% | -3.9% | 2.1% | 806.3% | |
| AID Partners Capital Holdings Ltd ($8088) | -38.7% | 0.9% | -79.5% | 655.2% | |
| Willie International Holdings Ltd ($273) | | | | 543.9% | |
| |
|---|
| Median (62 companies) | 5.3% | 1.2% | 12.9% | 26.5% | 23.1% |
|---|
| Asian Capital Holdings Ltd ($8295) | | -61.0% | 108.7% | -50.5% | 48.9% |
Top companies by Gross margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Roma Group Ltd ($8072) | | | | 99.4% | 98.7% |
| Freeman Financial Corp Ltd ($279) | 97.1% | 52.3% | 99.3% | 98.5% | |
| Chinese Strategic Holdings Ltd ($8089) | 97.9% | 99.1% | 97.9% | 97.0% | |
| First China Financial Network Holdings Ltd ($8123) | 98.6% | 93.4% | | 94.5% | |
| Allied Group Ltd ($373) | 94.5% | 95.1% | 94.4% | 93.6% | |
| |
|---|
| Median (13 companies) | 80.8% | 64.2% | 75.1% | 88.2% | 90.3% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Styland Holdings Ltd ($211) | 68.6% | 198.6% | 91.5% | 161.0% | 17.9% |
| Roma Group Ltd ($8072) | 81.4% | 18.1% | 36.8% | 143.0% | 44.7% |
| First China Financial Network Holdings Ltd ($8123) | -231.6% | -329.2% | -211.2% | 124.3% | |
| Willie International Holdings Ltd ($273) | | | 75.3% | 95.2% | |
| Get Nice Holdings Ltd ($64) | 28.4% | 2.6% | 153.4% | 92.7% | 83.9% |
| |
|---|
| Median (63 companies) | 29.5% | 16.4% | 35.5% | 47.2% | 35.3% |
|---|
| Asian Capital Holdings Ltd ($8295) | 61.8% | 5.6% | 39.8% | -5.5% | 26.2% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Gemini Investments Holdings Ltd ($174) | 14.9% | 479.1% | 37.3% | 216.0% | |
| China Assurance Finance Group Ltd ($8090) | | 94.7% | 68.9% | 53.3% | |
| Chinese Strategic Holdings Ltd ($8089) | 93.2% | 376.0% | 5.7% | 32.6% | |
| AID Partners Capital Holdings Ltd ($8088) | 196.3% | 4.1% | 2.9% | 28.4% | |
| Crown International Corp Ltd ($727) | 168.4% | 71.6% | 147.6% | 12.1% | 7.1% |
| |
|---|
| Median (63 companies) | 2.2% | 1.9% | 1.8% | 1.1% | 1.4% |
|---|
| Asian Capital Holdings Ltd ($8295) | 2.3% | 0.1% | 0.2% | 15.6% | |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| ReOrient Group Ltd ($376) | -24.9% | -45.6% | -53.5% | 128.6% | |
| Roma Group Ltd ($8072) | | 19.6% | 43.7% | 107.8% | 13.3% |
| Convoy Financial Holdings Ltd ($1019) | 31.1% | 3.4% | 39.3% | 47.3% | |
| Willie International Holdings Ltd ($273) | -28.1% | -9.5% | 4.7% | 30.9% | |
| Value Partners Group Ltd ($806) | 8.7% | 16.8% | 16.5% | 26.8% | |
| |
|---|
| Median (65 companies) | 4.6% | 3.9% | 4.0% | 4.8% | 2.6% |
|---|
| Asian Capital Holdings Ltd ($8295) | 45.4% | 0.9% | 15.6% | -1.6% | 6.3% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Cash Financial Services Group Ltd ($510) | -1.1x | 7.8x | | 67.5x | |
| Far East Horizon Ltd ($3360) | 17.8x | 16.9x | 21.7x | 20.0x | |
| Bright Smart Securities & Commodities Group Ltd ($1428) | 7.3x | 2.1x | 10.3x | 9.3x | 39.3x |
| China Cinda Asset Management Co Ltd ($1359) | 2.1x | 5.0x | 7.7x | 8.4x | |
| Aeon Credit Service Asia Co Ltd ($900) | 6.3x | 5.2x | 6.0x | 6.9x | 5.5x |
| |
|---|
| Median (46 companies) | -1.0x | -0.7x | 0.3x | -0.0x | -1.3x |
|---|
