Aupu Group Holding Co Ltd's growth is outstanding: revenue grew 17.8% and EBITDA 42.2% annually over the last three years
29/03/2016 • About Aupu Group Holding Co Ltd (
$477) • By InTwits
Pay attention to Aupu Group Holding Co Ltd as a growth stock. Its revenue performance, profitability and healthy financial model stands it out vs. other public companies on the market.
Growth story
Aupu Group Holding Co Ltd showed fast growth in the last financial year. The company's revenue surged on 18.5% in FY2015. The growth also happened in EBITDA of 6.28% for the same period.
In the last 3 years Aupu Group Holding Co Ltd showed fast revenue growth of 17.8% from 2012 to 2015 annualy. EBITDA surged on 42.2% from 2012 to 2015 annualy.
Aupu Group Holding Co Ltd ($477) financials for the last 5 years
| mln. CNY | 2011 | 2012 | 2013 | 2014 | 2015 |
|---|
| Revenue | 538 | 569 | 620 | 784 | 929 |
|---|
| Revenue growth, % | | 5.7% | 9.0% | 26.4% | 18.5% |
|---|
| Gross margin, % | 47.1% | 48.6% | 45.0% | 47.8% | 48.7% |
|---|
| SG&A, % | | 28.7% | 25.6% | 18.5% | 19.2% |
|---|
| EBITDA | 97 | 87 | 109 | 236 | 251 |
|---|
| EBITDA growth, % | | -10.6% | 25.4% | 115.8% | 6.3% |
|---|
| EBITDA margin, % | 18.1% | 15.3% | 17.6% | 30.1% | 27.0% |
|---|
| Net Income | 73 | 90 | 82 | 170 | 207 |
|---|
| Net Income margin, % | 13.6% | 15.8% | 13.2% | 21.7% | 22.3% |
|---|
| |
| CAPEX | 10 | 8 | 39 | 41 | 53 |
|---|
| CAPEX/Revenue, % | 1.93% | 1.48% | 6.31% | 5.25% | 5.70% |
|---|
| Debt | 83 | 42 | 148 | 173 | 77 |
|---|
| Cash | 32 | 62 | 69 | 42 | 135 |
|---|
| Net Debt/EBITDA | 0.5x | -0.2x | 0.7x | 0.6x | -0.2x |
|---|
| |
| ROIC, % | 18.0% | 14.8% | 17.0% | 32.2% | 32.2% |
|---|
| ROE, % | 17.2% | 20.6% | 18.1% | 34.1% | 36.0% |
|---|
Profitability and return on investment
EBITDA growth was partly attributed to margin expansion. If we look for the longer period the company's EBITDA margin surged on 11.7 pp from 15.3% in 2012 to 27% in 2015.
We call Aupu Group Holding Co Ltd an attractive growth stock as together with the growth it delivers high ROIC at 32.2%. During the last three years it surged - it was 14.8% in FY2012. For the last three years the average ROIC was 27.1%.
Net Income margin increased slightly on 0.600 pp from 21.7% to 22.3% in 2015. In the last 3 years Net Income margin surged on 6.50 pp from 15.8% in 2012 to 22.3% in 2015.
Aupu Group Holding Co Ltd operates at ROE of 36.0%. For the last three years the average ROE was 29.4%.
Capital expenditures (CAPEX)
To fuel this fast growth the company had to invest in CAPEX.In FY2015 Aupu Group Holding Co Ltd had CAPEX/Revenue of 5.70%. Aupu Group Holding Co Ltd showed fast CAPEX/Revenue growth of 4.22 pp from 1.48% in 2012 to 5.70% in 2015. It's average CAPEX/Revenue for the last three years was 5.75%.
Leverage (Debt)
Having such a fast growth profile the company keeps negative net debt at -0.2x Net Debt/EBITDA. If we look for the longer period leverage surged on 0.00x from -0.23x in 2012 to -0.23x in 2015.
Peers in Home Furnishings
Below we provide Aupu Group Holding Co Ltd benchmarking against other companies in Home Furnishings 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, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Jiu Rong Holdings Ltd ($2358) | | | 136.9% | 438.7% | |
| See Corp Ltd ($491) | | 13.7% | -31.9% | 134.1% | 126.9% |
| BEP International Holdings Ltd ($2326) | | 44.7% | -41.5% | 46.2% | 187.9% |
| Alco Holdings Ltd ($328) | | -10.2% | -32.6% | 22.8% | 11.8% |
| Tonly Electronics Holdings Ltd ($1249) | | -10.4% | 24.0% | 19.0% | -10.4% |
| |
|---|
| Median (26 companies) | 16.5% | -0.2% | 5.4% | 1.1% | 0.9% |
|---|
| Aupu Group Holding Co Ltd ($477) | | 5.7% | 9.0% | 26.4% | 18.5% |
Top companies by Gross margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| South East Group Ltd ($726) | 36.2% | 25.5% | 51.6% | 38.8% | 82.4% |
| Grande Holdings Ltd/The ($186) | 19.9% | 23.7% | 25.4% | 29.0% | |
| Samson Holding Ltd ($531) | 24.9% | 25.6% | 25.4% | 27.3% | |
| Gold Peak Industries Holding Ltd ($40) | 26.8% | 25.8% | 23.6% | 24.9% | 25.6% |
| Hing Lee HK Holdings Ltd ($396) | 23.1% | 16.3% | 18.7% | 22.7% | |
| |
|---|
| Median (26 companies) | 16.4% | 17.3% | 16.8% | 15.9% | 14.9% |
|---|
| Aupu Group Holding Co Ltd ($477) | 47.1% | 48.6% | 45.0% | 47.8% | 48.7% |
Top companies by EBITDA margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| See Corp Ltd ($491) | -58.7% | -38.4% | -59.5% | 32.0% | -35.6% |
| Welling Holding Ltd ($382) | 8.6% | 11.9% | 12.8% | 10.8% | 8.6% |
| Hing Lee HK Holdings Ltd ($396) | 9.3% | -3.0% | 4.3% | 9.4% | |
| Samson Holding Ltd ($531) | 6.2% | 7.5% | 6.6% | 9.4% | |
| Mastercraft International Holdings Ltd ($8146) | 7.6% | 7.4% | 8.2% | 8.5% | |
| |
|---|
| Median (26 companies) | 5.9% | 4.9% | 4.5% | 4.5% | 4.3% |
|---|
| Aupu Group Holding Co Ltd ($477) | 18.1% | 15.3% | 17.6% | 30.1% | 27.0% |
Top companies by CAPEX/Revenue, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Royale Furniture Holdings Ltd ($1198) | 35.8% | | 14.1% | 16.5% | |
| Sunrise China Technology Group Ltd ($8226) | 7.9% | 126.4% | 69.3% | 7.4% | 14.1% |
| Alco Holdings Ltd ($328) | 5.1% | 0.8% | 1.4% | 5.2% | 1.3% |
| Skyworth Digital Holdings Ltd ($751) | 2.2% | 3.0% | 2.9% | 4.9% | 2.9% |
| Kasen International Holdings Ltd ($496) | 2.6% | 5.0% | 2.6% | 4.7% | |
| |
|---|
| Median (26 companies) | 1.8% | 1.5% | 1.9% | 2.7% | 2.7% |
|---|
| Aupu Group Holding Co Ltd ($477) | 1.9% | 1.5% | 6.3% | 5.3% | 5.7% |
Top companies by ROIC, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Mastercraft International Holdings Ltd ($8146) | 76.2% | 54.4% | 38.6% | 36.4% | |
| Haier Electronics Group Co Ltd ($1169) | 45.3% | 37.5% | 32.8% | 20.8% | 5.9% |
| Welling Holding Ltd ($382) | 29.4% | 23.5% | 24.3% | 18.7% | 10.7% |
| Tonly Electronics Holdings Ltd ($1249) | 7.0% | 4.2% | 7.1% | 15.9% | 11.7% |
| Skyworth Digital Holdings Ltd ($751) | 11.7% | 11.6% | 13.4% | 10.9% | 23.0% |
| |
|---|
| Median (26 companies) | 5.0% | 3.7% | 4.4% | 3.9% | 4.1% |
|---|
| Aupu Group Holding Co Ltd ($477) | 18.0% | 14.8% | 17.0% | 32.2% | 32.2% |
Top companies by Net Debt / EBITDA
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Kasen International Holdings Ltd ($496) | 9.6x | 2.2x | 3.7x | 44.9x | |
| Chigo Holding Ltd ($449) | 27.0x | 12.3x | 11.8x | 14.5x | |
| Gold Peak Industries Holding Ltd ($40) | 5.6x | 10.2x | 3.4x | 3.6x | 2.8x |
| Skyworth Digital Holdings Ltd ($751) | 1.1x | 1.2x | 1.5x | 1.2x | -0.2x |
| Hisense Kelon Electrical Holdings Co Ltd ($921) | 3.3x | 1.2x | 0.9x | 1.0x | |
| |
|---|
| Median (19 companies) | 0.0x | -0.3x | -1.1x | -1.9x | -2.7x |
|---|
| Aupu Group Holding Co Ltd ($477) | 0.5x | -0.2x | 0.7x | 0.6x | -0.2x |
