Thiz Technology Group Ltd Net Income dropped on 853% while Revenue increased on 8.1%
29/06/2016 • About Thiz Technology Group Ltd (
$8119) • By InTwits
Thiz Technology Group Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Thiz Technology Group Ltd doesn't have a profitable business model yet: FY2016 ROIC is -7.4%
- The company operates at negative EBITDA Margin: -225.0%
- Thiz Technology Group Ltd motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0%. On average EBITDA Margin was -110.4% for the sames years0
- Thiz Technology Group Ltd has low CAPEX intensity: 5 year average CAPEX/Revenue was 0.5%.
- The company has unprofitable business model: ROIC is at -7.4%
- It operates with high leverage: Net Debt/EBITDA is 7.0x while industry average is -0.4x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Thiz Technology Group Ltd ($8119) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 15.955 | 0.784 | 1.350 | 1.780 | 1.925 | 8.1% |
| Gross Profit | 1.403 | 0.500 | 1.164 | 1.708 | 1.855 | 8.6% |
| SG&A | 9.361 | 6.975 | 8.050 | 7.155 | 6.255 | -12.6% |
| EBITDA | -7.564 | -6.643 | -6.839 | 1.318 | -4.332 | -428.7% |
| Net Income | -8.752 | -7.771 | -7.360 | 0.655 | -4.933 | -853.1% |
Balance Sheet
|
|---|
| Cash | 12.192 | 9.867 | 15.427 | 20.598 | 14.613 | -29.1% |
| Short Term Debt | 14.173 | 8.771 | 1.573 | 1.268 | 0.869 | -31.5% |
| Long Term Debt | 8.573 | 7.699 | 20.777 | 30.198 | 29.770 | -1.4% |
Cash flow
|
|---|
| Capex | 0.006 | 0.005 | 0.017 | 0.000 | 0.008 | |
Ratios
|
|---|
| Revenue growth | -4.1% | -95.1% | 72.2% | 31.9% | 8.1% | |
| EBITDA growth | 16.4% | -12.2% | 3.0% | -119.3% | -428.7% | |
| Gross Margin | 8.8% | 63.8% | 86.2% | 96.0% | 96.4% | 0.4% |
| EBITDA Margin | -47.4% | -847.3% | -506.6% | 74.0% | -225.0% | -299.1% |
| Net Income Margin | -54.9% | -991.2% | -545.2% | 36.8% | -256.3% | -293.1% |
| SG&A, % of revenue | 58.7% | 889.7% | 596.3% | 402.0% | 324.9% | -77.0% |
| CAPEX, % of revenue | 0.0% | 0.6% | 1.3% | 0.0% | 0.4% | 0.4% |
| ROIC | -88.7% | -189.4% | -36.1% | 2.5% | -7.4% | -9.9% |
| ROE | | | | 2.7% | -18.4% | -21.1% |
| Net Debt/EBITDA | | | | 8.2x | | -8.2x |
Revenue and profitability
The company's Revenue increased on 8.1%. Revenue decline was accompanies by EBITDA margin decline. EBITDA Margin dropped on 439 pp from -981% to -1,420% in FY2016.
Gross Margin showed almost no change in FY2016. SG&A as a % of Revenue dropped on 77.0 pp from 402% to 325% in FY2016.
Net Income marign dropped on 293 pp from 36.8% to -256% in FY2016.
Capital expenditures (CAPEX) and working capital investments
Thiz Technology Group Ltd's CAPEX/Revenue was 0.42% in FY2016. CAPEX/Revenue showed almost no change from FY2013 to FY2016.
Return on investment
The company operates at negative ROIC (-7.36%) and ROE (-18.38%). ROIC decreased on 9.9 pp from 2.5% to -7.4% in FY2016. ROE dropped on 21.1 pp from 2.7% to -18.4% in FY2016.
Leverage (Debt)
Debt level is 7.0x Net Debt / EBITDA and Debt / EBITDA. Net Debt / EBITDA dropped on 8.2x from 8.2x to in FY2016. Debt decreased on 2.6% while cash dropped on 29.1%.
Appendix 1: Peers in Computers
Below you can find Thiz Technology Group Ltd benchmarking vs. other companies in Computers 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 |
|---|
| Shinhint Acoustic Link Holdings Ltd ($2728) | -65.4% | 8.8% | 27.1% | 759.3% | |
| Beautiful China Holdings Co Ltd ($706) | -7.8% | -23.3% | -37.1% | 267.1% | |
| Powerleader Science & Technology Group Ltd ($8236) | 2.5% | -10.3% | 18.8% | 45.0% | |
| Alibaba Health Information Technology Ltd ($241) | | -96.7% | 73.0% | 35.3% | 85.8% |
| Peking University Resources Holdings Co Ltd ($618) | -49.6% | 11.2% | 106.0% | 25.1% | |
| |
|---|
| Median (25 companies) | 3.1% | 0.1% | 10.9% | -3.9% | 23.9% |
|---|
| Thiz Technology Group Ltd ($8119) | | -95.1% | 72.2% | 31.9% | 8.1% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Universal Technologies Holdings Ltd ($1026) | 87.3% | 79.7% | 90.3% | 98.4% | |
| Computer & Technologies Holdings Ltd ($46) | 45.3% | 54.0% | 52.1% | 54.2% | |
| Alibaba Health Information Technology Ltd ($241) | 11.4% | -12.6% | 49.3% | 53.7% | 67.1% |
| CCID Consulting Co Ltd ($8235) | 43.7% | 49.1% | 51.8% | 48.7% | |
| Founder Holdings Ltd ($418) | 19.8% | 28.4% | 33.7% | 41.3% | |
| |
|---|
| Median (25 companies) | 13.2% | 15.4% | 15.1% | 18.4% | 16.2% |
|---|
| Thiz Technology Group Ltd ($8119) | 8.8% | 63.8% | 86.2% | 96.0% | 96.4% |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| World Wide Touch Technology Holdings Ltd ($1282) | 3.4% | -6.4% | -6.4% | 35.7% | |
| Ju Teng International Holdings Ltd ($3336) | 15.1% | 19.9% | 19.3% | 23.8% | |
| Computer & Technologies Holdings Ltd ($46) | 12.9% | 19.9% | 20.1% | 23.2% | |
| PAX Global Technology Ltd ($327) | 16.5% | 17.4% | 18.8% | 22.7% | |
| CCID Consulting Co Ltd ($8235) | 10.6% | 10.8% | 12.3% | 20.3% | |
| |
|---|
| Median (26 companies) | 3.2% | 3.1% | 2.0% | 3.9% | -12.9% |
|---|
| Thiz Technology Group Ltd ($8119) | -47.4% | -847.3% | -506.6% | 74.0% | -225.0% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Beautiful China Holdings Co Ltd ($706) | 8.4% | 2.2% | 26.2% | 743.7% | |
| North Asia Resources Holdings Ltd ($61) | 4.6% | 94.2% | 177.8% | 110.2% | |
| China Uptown Group Co Ltd ($2330) | 0.0% | 0.2% | 1.0% | 20.5% | |
| Universal Technologies Holdings Ltd ($1026) | 20.0% | 5.7% | 14.2% | 20.3% | |
| Ju Teng International Holdings Ltd ($3336) | 14.1% | 18.7% | 20.0% | 17.3% | |
| |
|---|
| Median (26 companies) | 1.0% | 1.4% | 1.7% | 1.9% | 0.9% |
|---|
| Thiz Technology Group Ltd ($8119) | 0.0% | 0.6% | 1.3% | 0.0% | 0.4% |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Lenovo Group Ltd ($992) | 26.2% | 30.5% | 34.7% | 24.5% | 1.0% |
| PAX Global Technology Ltd ($327) | 12.3% | 12.8% | 18.7% | 22.4% | |
| CCID Consulting Co Ltd ($8235) | 11.3% | 10.7% | 10.2% | 15.0% | |
| TPV Technology Ltd ($903) | 7.7% | 1.8% | 10.1% | 12.0% | |
| Goldenmars Technology Holdings Ltd ($8036) | | 10.5% | 11.4% | 11.6% | 9.5% |
| |
|---|
| Median (26 companies) | 2.1% | 1.8% | 0.5% | 2.1% | -8.3% |
|---|
| Thiz Technology Group Ltd ($8119) | -88.7% | -189.4% | -36.1% | 2.5% | -7.4% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Shinhint Acoustic Link Holdings Ltd ($2728) | -2.8x | -2.5x | -20.8x | 8.8x | |
| Powerleader Science & Technology Group Ltd ($8236) | 2.7x | 3.6x | 4.6x | 6.7x | |
| EVOC Intelligent Technology Co Ltd ($2308) | 0.5x | 5.8x | 5.7x | 5.4x | |
| Perception Digital Holdings Ltd ($1822) | | | | 1.8x | |
| Ju Teng International Holdings Ltd ($3336) | 2.1x | 1.8x | 1.7x | 1.6x | |
| |
|---|
| Median (16 companies) | -2.1x | -1.3x | -3.2x | 0.3x | 0.3x |
|---|
| Thiz Technology Group Ltd ($8119) | | | | 8.2x | |
