Beijing Urban Construction Design & Development Group Co Ltd's three year revenue growth was 14.2% and EBITDA growth was 20.9% per year
31/03/2016 • About Beijing Urban Construction Design & Development Group Co Ltd (
$1599) • By InTwits
Beijing Urban Construction Design & Development Group Co Ltd is an attractive growth stock in Engineering&Construction industry. Its revenue performance, profitability and healthy financial model stands it out vs. other public companies on the market.
Growth story
Beijing Urban Construction Design & Development Group Co Ltd showed fast growth in the last financial year. Beijing Urban Construction Design & Development Group Co Ltd's revenue surged on 19.8% in FY2015. The growth also happened in EBITDA of -1.87% for the same period.
In the last 3 years the company showed fast revenue growth of 14.2% from 2012 to 2015 annualy. EBITDA surged on 20.9% from 2012 to 2015 annualy.
Beijing Urban Construction Design & Development Group Co Ltd ($1599) financials for the last 5 years
| mln. CNY | 2011 | 2012 | 2013 | 2014 | 2015 |
|---|
| Revenue | 3,410 | 2,694 | 2,923 | 3,346 | 4,009 |
|---|
| Revenue growth, % | | -21.0% | 8.5% | 14.5% | 19.8% |
|---|
| Gross margin, % | 13.1% | 17.7% | 20.1% | 22.5% | 20.8% |
|---|
| SG&A, % | 6.46% | 8.54% | 8.76% | 9.88% | 10.3% |
|---|
| EBITDA | 233 | 242 | 347 | 435 | 427 |
|---|
| EBITDA growth, % | | 3.7% | 43.6% | 25.5% | -1.9% |
|---|
| EBITDA margin, % | 6.84% | 8.97% | 11.9% | 13.0% | 10.7% |
|---|
| Net Income | 158 | 194 | 236 | 350 | 398 |
|---|
| Net Income margin, % | 4.62% | 7.22% | 8.06% | 10.5% | 9.92% |
|---|
| |
| CAPEX | 75 | 68 | 22 | 52 | 44 |
|---|
| CAPEX/Revenue, % | 2.20% | 2.54% | 0.763% | 1.54% | 1.11% |
|---|
| Debt | 0 | 0 | 0 | 0 | 410 |
|---|
| Cash | 337 | 449 | 1,791 | 1,945 | 2,093 |
|---|
| Net Debt/EBITDA | -1.4x | -1.9x | -5.2x | -4.5x | -3.9x |
|---|
| |
| ROIC, % | | 27.9% | 22.8% | 16.9% | 12.0% |
|---|
| ROE, % | | 32.7% | 21.1% | 16.9% | 14.4% |
|---|
Profitability and return on investment
EBITDA growth was partly attributed to margin expansion. In the last 3 years Beijing Urban Construction Design & Development Group Co Ltd's EBITDA margin surged on 1.70 pp from 9% in 2012 to 10.7% in 2015.
We call Beijing Urban Construction Design & Development Group Co Ltd an attractive growth stock as together with the growth it delivers high ROIC at 12.0%. During the last three years it dropped - it was 27.9% in FY2012. It's average ROIC for the last three years was 17.2%.
Beijing Urban Construction Design & Development Group Co Ltd showed decline of 0.600 pp from 10.5% to 9.90% in 2015. If we look for the longer period Beijing Urban Construction Design & Development Group Co Ltd showed fast Net Income margin growth of 2.70 pp from 7.20% in 2012 to 9.90% in 2015.
Beijing Urban Construction Design & Development Group Co Ltd operates at ROE of 14.4%. It's average level of ROE for the last three years was 17.5%.
Capital expenditures (CAPEX)
The company's CAPEX/Revenue was 1.11% in FY2015. The company showed big decline in CAPEX/Revenue of 1.43 pp from 2.54% in 2012 to 1.11% in 2015. Average CAPEX/Revenue for the last three years was 1.14%.
Leverage (Debt)
Having such a fast growth profile the company keeps negative net debt at -3.9x Net Debt/EBITDA. In the longer period Beijing Urban Construction Design & Development Group Co Ltd showed fast leverage growth of 2.08x from -1.86x in 2012 to -3.94x in 2015.
Peers in Engineering&Construction
Below you can find Beijing Urban Construction Design & Development Group Co Ltd benchmarking vs. other companies in Engineering&Construction 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, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Richly Field China Development Ltd ($313) | | | -45.0% | 464.2% | -65.7% |
| Junefield Department Store Group Ltd ($758) | 22.9% | -20.3% | -24.9% | 126.6% | |
| CNQC International Holdings Ltd ($1240) | | 21.6% | 91.0% | 103.7% | 807.4% |
| Wison Engineering Services Co Ltd ($2236) | | -2.9% | -24.9% | 90.3% | -22.6% |
| China Resources and Transportation Group Ltd ($269) | | 939.8% | 3,196.3% | 87.9% | -41.6% |
| |
|---|
| Median (43 companies) | 8.2% | 10.3% | 21.3% | 16.3% | 11.2% |
|---|
| Beijing Urban Construction Design & Development Group Co Ltd ($1599) | | -21.0% | 8.5% | 14.5% | 19.8% |
Top companies by Gross margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Huayu Expressway Group Ltd ($1823) | 2.2% | 43.6% | 65.6% | 64.0% | |
| HNA Infrastructure Company Ltd ($357) | 61.6% | 66.4% | 62.1% | 62.4% | |
| Freetech Road Recycling Technology Holdings Ltd ($6888) | 50.1% | 54.1% | 54.3% | 41.5% | 30.1% |
| Kingbo Strike Ltd ($1421) | 22.9% | 32.4% | 44.4% | 40.3% | 30.7% |
| Broad Greenstate International Co Ltd ($1253) | 16.7% | 20.1% | 28.7% | 35.8% | 36.7% |
| |
|---|
| Median (38 companies) | 11.5% | 12.8% | 12.9% | 13.3% | 14.2% |
|---|
| Beijing Urban Construction Design & Development Group Co Ltd ($1599) | 13.1% | 17.7% | 20.1% | 22.5% | 20.8% |
Top companies by EBITDA margin, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Huayu Expressway Group Ltd ($1823) | -0.5% | 46.2% | 73.8% | 77.1% | |
| HNA Infrastructure Company Ltd ($357) | 60.0% | 62.8% | 63.7% | 62.8% | |
| Beijing Capital International Airport Co Ltd ($694) | 55.1% | 53.4% | 52.9% | 50.3% | 51.6% |
| Cheung Kong Infrastructure Holdings Ltd ($1038) | 39.8% | 31.2% | 20.6% | 36.2% | 60.9% |
| Grand Ming Group Holdings Ltd ($1271) | 17.5% | 10.0% | 15.8% | 31.0% | 19.0% |
| |
|---|
| Median (44 companies) | 9.2% | 9.8% | 8.2% | 7.1% | 7.6% |
|---|
| Beijing Urban Construction Design & Development Group Co Ltd ($1599) | 6.8% | 9.0% | 11.9% | 13.0% | 10.7% |
Top companies by CAPEX/Revenue, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| HNA Infrastructure Company Ltd ($357) | 43.3% | 36.8% | 5.7% | 85.4% | |
| PYI Corp Ltd ($498) | 6.6% | 3.7% | 4.2% | 24.5% | 13.1% |
| Shun Cheong Holdings ($650) | 7.2% | 16.4% | 8.0% | 23.9% | |
| Freetech Road Recycling Technology Holdings Ltd ($6888) | 6.1% | 4.2% | 7.7% | 20.2% | 3.2% |
| KFM Kingdom Holdings Ltd ($3816) | 6.5% | 4.6% | 11.5% | 14.9% | 9.6% |
| |
|---|
| Median (44 companies) | 4.4% | 2.4% | 2.6% | 1.7% | 2.0% |
|---|
| Beijing Urban Construction Design & Development Group Co Ltd ($1599) | 2.2% | 2.5% | 0.8% | 1.5% | 1.1% |
Top companies by ROIC, %
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| Chun Sing Engineering Holdings Ltd ($2277) | | | 98.3% | 54.9% | 43.7% |
| Broad Greenstate International Co Ltd ($1253) | | 33.2% | 85.1% | 51.2% | 26.0% |
| Kingbo Strike Ltd ($1421) | | 56.9% | 125.4% | 48.9% | 11.4% |
| Ngai Shun Holdings Ltd ($1246) | | 68.8% | 77.2% | 45.2% | 31.0% |
| CNQC International Holdings Ltd ($1240) | 23.1% | 12.2% | 22.3% | 40.4% | 21.8% |
| |
|---|
| Median (45 companies) | 6.9% | 6.1% | 5.5% | 4.3% | 2.7% |
|---|
| Beijing Urban Construction Design & Development Group Co Ltd ($1599) | | 27.9% | 22.8% | 16.9% | 12.0% |
Top companies by Net Debt / EBITDA
| FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Top 5 |
|---|
| China Resources and Transportation Group Ltd ($269) | | | | 66.7x | 29.7x |
| CNC Holdings Ltd ($8356) | -0.7x | | 22.0x | 21.9x | 24.3x |
| Deson Development International Holdings ($262) | 3.1x | 3.8x | 4.9x | 13.7x | 47.0x |
| Chun Wo Development Holdings Ltd ($711) | | 14.3x | 8.1x | 12.6x | 15.9x |
| Hsin Chong Construction Group Ltd ($404) | 4.3x | 1.8x | 8.0x | 10.2x | 41.7x |
| |
|---|
| Median (37 companies) | 0.5x | 1.3x | 1.4x | 2.3x | 2.3x |
|---|
| Beijing Urban Construction Design & Development Group Co Ltd ($1599) | -1.4x | -1.9x | -5.2x | -4.5x | -3.9x |
