Shenyin Wanguo HK Ltd Net Income jumped on 96.2% in 2015 and Revenue jumped on 47.2%
06/03/2016 • About Shenyin Wanguo HK Ltd (
$218) • By InTwits
Shenyin Wanguo HK Ltd reported 2015 financial results today. Overall the company's long term financial model is characterised by the following facts:
- EBITDA Margin is expanding: 32.2% in 2015 vs. 25.7% in 2014 vs. 22.9% in 2011
- Shenyin Wanguo HK Ltd has low CAPEX intensity: 5 year average CAPEX/Revenue was 2.1%. At the same time it's in pair with industry average of 27.6%.
- CAPEX is quite volatile: 4.2 in 2015, 8.3 in 2014, 2.8 in 2013, 8.8 in 2012, 17.0 in 2011
- The company has business model with low profitability: ROIC is at 7.8%
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Shenyin Wanguo HK Ltd ($218) key annual financial indicators
| mln. HKD | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 384.3 | 297.7 | 357.3 | 473.3 | 696.8 | 47.2% |
| EBITDA | 88.1 | 43.6 | 74.6 | 121.7 | 224.5 | 84.6% |
| Net Income | 74.0 | 30.2 | 47.2 | 93.9 | 184.3 | 96.2% |
Balance Sheet
|
|---|
| Cash | 392.7 | 193.9 | 277.7 | 272.4 | 4,373.9 | 1,505.6% |
| Short Term Debt | 0.0 | 614.7 | 809.4 | 1,009.1 | 749.7 | -25.7% |
| Long Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
Cash flow
|
|---|
| Capex | 17.0 | 8.8 | 2.8 | 8.3 | 4.2 | -49.5% |
Ratios
|
|---|
| Revenue growth | -25.2% | -22.5% | 20.0% | 32.5% | 47.2% | |
| EBITDA growth | -57.6% | -50.5% | 70.9% | 63.1% | 84.6% | |
| EBITDA Margin | 22.9% | 14.7% | 20.9% | 25.7% | 32.2% | 6.5% |
| Net Income Margin | 19.3% | 10.1% | 13.2% | 19.8% | 26.5% | 6.6% |
| CAPEX, % of revenue | 4.4% | 3.0% | 0.8% | 1.8% | 0.6% | -1.2% |
| ROIC | 6.4% | 2.2% | 2.8% | 4.6% | 7.8% | 3.2% |
| ROE | 6.3% | 2.5% | 3.9% | 7.3% | 10.9% | 3.5% |
| Net Debt/EBITDA | -4.5x | 9.6x | 7.1x | 6.1x | -16.1x | -22.2x |
Revenue and profitability
Shenyin Wanguo HK Ltd's Revenue surged on 47.2% in 2015. Despite revenue decline the EBITDA margin expanded. EBITDA Margin increased on 2.6 pp from 16.0% to 18.6% in 2015.
Net Income marign increased on 6.6 pp from 19.8% to 26.5% in 2015.
Capital expenditures (CAPEX) and working capital investments
In 2015 Shenyin Wanguo HK Ltd had CAPEX/Revenue of 0.60%. CAPEX/Revenue decreased on 2.3 pp from 3.0% in 2012 to 0.60% in 2015. Average CAPEX/Revenue for the last three years was 1.1%.
Return on investment
The company operates at low ROIC (7.84%) and ROE (10.87%). ROIC increased on 3.2 pp from 4.6% to 7.8% in 2015. ROE increased on 3.5 pp from 7.3% to 10.9% in 2015.
Leverage (Debt)
Debt level is -16.1x Net Debt / EBITDA and 3.3x Debt / EBITDA. Net Debt / EBITDA dropped on 22.2x from 6.1x to -16.1x in 2015. Debt dropped on 25.7% in 2015 while cash jumped on 1,506% in 2015.
Appendix 1: Peers in Diversified Finan Serv
Below you can find Shenyin Wanguo HK Ltd benchmarking vs. other companies in Diversified Finan Serv 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 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| China New Energy Power Group Ltd ($1041) | | 100.0% | 0.0% | 64,246.0% | |
| ReOrient Group Ltd ($376) | | 112.8% | 75.1% | 1,106.9% | -90.8% |
| Global Strategic Group Ltd ($8007) | | -3.9% | 2.1% | 806.3% | 681.2% |
| AID Partners Capital Holdings Ltd ($8088) | -38.7% | 0.9% | -79.5% | 655.2% | |
| Willie International Holdings Ltd ($273) | | | | 543.9% | |
| |
|---|
| Median (62 companies) | 6.8% | 1.2% | 12.9% | 24.9% | 24.9% |
|---|
| Shenyin Wanguo HK Ltd ($218) | | -22.5% | 20.0% | 32.5% | 47.2% |
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% | 89.0% |
|---|
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) | 30.3% | 15.7% | 36.2% | 47.2% | 30.5% |
|---|
| Shenyin Wanguo HK Ltd ($218) | 22.9% | 14.7% | 20.9% | 25.7% | 32.2% |
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% | 10.0% |
| 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% | |
| Asian Capital Holdings Ltd ($8295) | 2.3% | 0.1% | 0.2% | 15.6% | |
| |
|---|
| Median (63 companies) | 2.2% | 1.8% | 1.8% | 1.1% | 2.2% |
|---|
| Shenyin Wanguo HK Ltd ($218) | 4.4% | 3.0% | 0.8% | 1.8% | 0.6% |
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| ReOrient Group Ltd ($376) | -24.9% | -45.6% | -53.5% | 128.6% | -2.8% |
| 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% | 2.2% |
|---|
| Shenyin Wanguo HK Ltd ($218) | 6.4% | 2.2% | 2.8% | 4.6% | 7.8% |
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 (45 companies) | -1.0x | -1.3x | -0.0x | -0.1x | -1.3x |
|---|
| Shenyin Wanguo HK Ltd ($218) | -4.5x | 9.6x | 7.1x | 6.1x | -16.1x |
