Shanghai Prime Machinery Co Ltd EBITDA Margin decreased on 9.2 pp from 9.2% to in 2016
19/03/2017 • About Shanghai Prime Machinery Co Ltd (
$2345) • By InTwits
Shanghai Prime Machinery Co Ltd reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Shanghai Prime Machinery Co Ltd ($2345) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 3,729 | 3,398 | 4,665 | 7,127 | 7,645 | 7.3% |
| Gross Profit | 677 | 652 | 934 | 1,488 | | -100.0% |
| SG&A | 480 | 466 | 710 | 933 | | -100.0% |
| EBITDA | 290 | 304 | 359 | 658 | | -100.0% |
| Net Income | 99 | 67 | 81 | 186 | 203 | 9.5% |
Balance Sheet
|
|---|
| Cash | 1,284 | 885 | 1,035 | 909 | | -100.0% |
| Short Term Debt | 630 | 469 | 647 | 191 | | -100.0% |
| Long Term Debt | 493 | 495 | 2,534 | 2,837 | | -100.0% |
Cash flow
|
|---|
| Capex | 158 | 146 | 196 | 253 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 2.6% | -8.9% | 37.3% | 52.8% | 7.3% | |
| EBITDA growth | -17.0% | 4.8% | 18.1% | 83.6% | | |
| Gross Margin | 18.2% | 19.2% | 20.0% | 20.9% | | -20.9% |
| EBITDA Margin | 7.8% | 8.9% | 7.7% | 9.2% | 0.0% | -9.2% |
| Net Income Margin | 2.7% | 2.0% | 1.7% | 2.6% | 2.7% | 0.1% |
| SG&A, % of revenue | 12.9% | 13.7% | 15.2% | 13.1% | | -13.1% |
| CAPEX, % of revenue | 4.2% | 4.3% | 4.2% | 3.6% | | -3.6% |
| ROIC | 2.5% | 2.8% | 2.5% | 5.8% | | -5.8% |
| ROE | 3.1% | 2.1% | 2.5% | 5.9% | | -5.9% |
| Net Debt/EBITDA | -0.6x | 0.3x | 6.0x | 3.2x | | -3.2x |
Revenue and profitability
Shanghai Prime Machinery Co Ltd's Revenue increased on 7.3%.
Net Income marign showed almost no change in FY2016.
Appendix 1: Peers in Machinery-Diversified
Below we provide Shanghai Prime Machinery Co Ltd benchmarking against other companies in Machinery-Diversified 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 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| North Asia Strategic Holdings Ltd ($8080) | | -29.1% | 23.7% | 42.6% | -3.9% |
| Huazhang Technology Holding Ltd ($1673) | | 9.5% | 22.9% | 23.5% | 3.3% |
| Sinoref Holdings Ltd ($1020) | -0.2% | -42.2% | 29.2% | 19.9% | |
| LK Technology Holdings Ltd ($558) | | -15.0% | 3.7% | 18.5% | -10.3% |
| First Tractor Co Ltd ($38) | -1.7% | -4.2% | -18.4% | 6.9% | |
| |
|---|
| Median (20 companies) | -6.8% | -3.3% | -0.2% | -8.2% | -10.3% |
|---|
| Shanghai Prime Machinery Co Ltd ($2345) | | -8.9% | 37.3% | 52.8% | 7.3% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jingwei Textile Machinery ($350) | 49.1% | 51.7% | 54.9% | 65.5% | |
| Renheng Enterprise Holdings Ltd ($3628) | 44.3% | 44.8% | 45.4% | 48.9% | |
| Haitian International Holdings Ltd ($1882) | 30.1% | 31.6% | 32.4% | 33.0% | |
| CHTC Fong's Industries Co Ltd ($641) | 24.4% | 30.0% | 32.3% | 31.2% | |
| Good Friend International Holdings Inc ($2398) | 20.1% | 22.9% | 26.5% | 27.1% | |
| |
|---|
| Median (20 companies) | 25.3% | 22.8% | 19.4% | 20.9% | 17.0% |
|---|
| Shanghai Prime Machinery Co Ltd ($2345) | 18.2% | 19.2% | 20.0% | 20.9% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Jingwei Textile Machinery ($350) | 24.0% | 26.9% | 28.0% | 28.5% | |
| Haitian International Holdings Ltd ($1882) | 19.7% | 20.7% | 21.9% | 22.8% | |
| Renheng Enterprise Holdings Ltd ($3628) | 24.7% | 23.9% | 20.7% | 17.3% | |
| Huazhang Technology Holding Ltd ($1673) | 11.6% | 11.2% | 12.5% | 11.3% | 10.8% |
| Good Friend International Holdings Inc ($2398) | 6.7% | 9.1% | 12.9% | 9.9% | |
| |
|---|
| Median (20 companies) | 11.3% | 8.6% | 8.6% | 4.1% | 0.8% |
|---|
| Shanghai Prime Machinery Co Ltd ($2345) | 7.8% | 8.9% | 7.7% | 9.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Wuxi Sunlit Science and Technology Co Ltd ($1289) | 2.3% | 10.1% | 7.8% | 31.9% | |
| Honghua Group Ltd ($196) | 11.5% | 14.6% | 6.8% | 27.3% | |
| Shandong Molong Petroleum Machinery Co Ltd ($568) | 20.5% | 20.3% | 11.6% | 15.6% | |
| Shenji Group Kunming Machine Tool Co Ltd ($300) | 9.5% | 6.7% | 5.0% | 8.3% | |
| Haitian International Holdings Ltd ($1882) | 4.2% | 6.8% | 6.3% | 6.3% | |
| |
|---|
| Median (20 companies) | 4.2% | 4.0% | 4.6% | 2.3% | 0.9% |
|---|
| Shanghai Prime Machinery Co Ltd ($2345) | 4.2% | 4.3% | 4.2% | 3.6% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Haitian International Holdings Ltd ($1882) | 19.8% | 21.2% | 19.4% | 16.3% | |
| Huazhang Technology Holding Ltd ($1673) | 29.6% | 16.2% | 16.3% | 16.2% | 12.8% |
| Jingwei Textile Machinery ($350) | 19.4% | 20.9% | 17.4% | 14.9% | |
| Good Friend International Holdings Inc ($2398) | 6.5% | 8.7% | 12.1% | 5.9% | |
| Renheng Enterprise Holdings Ltd ($3628) | 17.0% | 12.8% | 6.9% | 4.8% | |
| |
|---|
| Median (20 companies) | 7.5% | 4.2% | 2.8% | 1.1% | -0.0% |
|---|
| Shanghai Prime Machinery Co Ltd ($2345) | 2.5% | 2.8% | 2.5% | 5.8% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Shandong Molong Petroleum Machinery Co Ltd ($568) | 3.0x | 11.4x | 5.6x | 129.4x | |
| Honghua Group Ltd ($196) | 1.2x | 3.2x | 5.2x | 14.2x | |
| First Tractor Co Ltd ($38) | 0.5x | 2.5x | 9.2x | 6.3x | |
| LK Technology Holdings Ltd ($558) | 2.5x | 5.1x | 4.9x | 4.6x | 5.7x |
| Cosmos Machinery Enterprises Ltd ($118) | 2.2x | 1.7x | 2.1x | 3.9x | |
| |
|---|
| Median (15 companies) | -0.7x | -0.5x | -0.5x | 3.1x | 4.7x |
|---|
| Shanghai Prime Machinery Co Ltd ($2345) | -0.6x | 0.3x | 6.0x | 3.2x | |
