China Mobile Games and Cultural Investment Ltd Net Income dropped on 639%
24/03/2017 • About China Mobile Games and Cultural Investment Ltd (
$8081) • By InTwits
China Mobile Games and Cultural Investment Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: China Mobile Games and Cultural Investment Ltd spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -1.0%0.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
China Mobile Games and Cultural Investment Ltd ($8081) key annual financial indicators
| mln. | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 106.6 | 99.6 | 191.3 | 257.9 | 510.1 | 97.8% |
| Gross Profit | 7.0 | 45.1 | 162.1 | 187.7 | | -100.0% |
| SG&A | 24.5 | | | | | |
| EBITDA | -13.8 | -5.6 | 11.5 | -3.4 | | |
| Net Income | -21.1 | -8.8 | -26.2 | 64.0 | -344.6 | -638.9% |
Balance Sheet
|
|---|
| Cash | 77.2 | 42.1 | 53.5 | 78.6 | | -100.0% |
| Short Term Debt | 0.0 | 0.0 | 15.0 | 303.4 | | -100.0% |
| Long Term Debt | 39.6 | 0.0 | 0.0 | 0.0 | | |
Cash flow
|
|---|
| Capex | 0.0 | 41.7 | 12.3 | 13.5 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 393.7% | -6.6% | 92.2% | 34.8% | 97.8% | |
| EBITDA growth | -45.8% | -59.5% | -306.0% | -129.9% | | |
| Gross Margin | 6.5% | 45.3% | 84.8% | 72.8% | | -72.8% |
| EBITDA Margin | -12.9% | -5.6% | 6.0% | -1.3% | 0.0% | 1.3% |
| Net Income Margin | -19.8% | -8.9% | -13.7% | 24.8% | -67.6% | -92.4% |
| SG&A, % of revenue | 23.0% | | | | | 0.0% |
| CAPEX, % of revenue | 0.0% | 41.9% | 6.4% | 5.2% | | -5.2% |
| ROIC | -15.9% | -9.1% | -4.7% | -3.1% | | 3.1% |
| ROE | -30.5% | -6.4% | -10.7% | 11.2% | | -11.2% |
| Net Debt/EBITDA | | | -3.4x | | | 0.0x |
Revenue and profitability
China Mobile Games and Cultural Investment Ltd's Revenue jumped on 97.8%.
Net Income marign dropped on 92.4 pp from 24.8% to -67.6% in FY2016.
Appendix 1: Peers in Software
Below we provide China Mobile Games and Cultural Investment Ltd benchmarking against other companies in Software 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 |
|---|
| Yunbo Digital Synergy Group Ltd ($8050) | | 241.6% | -31.9% | 348.0% | 99.6% |
| Pizu Group Holdings Ltd ($8053) | | -42.9% | 1,742.9% | 157.9% | 235.2% |
| China Eco-Farming Ltd ($8166) | | -7.7% | 21.8% | 155.5% | 21.3% |
| ICO Group Ltd ($8140) | | -11.1% | -3.1% | 104.9% | 29.8% |
| Aurum Pacific China Group Ltd ($8148) | | | 50.0% | 92.7% | -17.8% |
| |
|---|
| Median (38 companies) | 21.1% | 13.2% | 21.2% | 5.5% | 17.4% |
|---|
| China Mobile Games and Cultural Investment Ltd ($8081) | | -6.6% | 92.2% | 34.8% | 97.8% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Bio Cassava Holdings Ltd ($8129) | 90.4% | 97.4% | 98.4% | 98.3% | |
| Chanjet Information Technology Co Ltd ($1588) | 89.2% | 91.3% | 92.4% | 91.4% | |
| China Binary Sale Technology Ltd ($8255) | 63.5% | 68.5% | 67.7% | 85.9% | |
| Kingdee International Software Group Co Ltd ($268) | 65.0% | 75.3% | 82.5% | 81.5% | 81.3% |
| Tian Ge Interactive Holdings Ltd ($1980) | 88.5% | 87.6% | 84.8% | 77.7% | |
| |
|---|
| Median (37 companies) | 46.5% | 40.5% | 42.1% | 40.1% | 38.6% |
|---|
| China Mobile Games and Cultural Investment Ltd ($8081) | 6.5% | 45.3% | 84.8% | 72.8% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| International Entertainment Corp ($1009) | 50.8% | 64.0% | 54.9% | 62.0% | 45.5% |
| Sinosoft Technology Group Ltd ($1297) | 62.6% | 54.9% | 57.2% | 59.0% | |
| China Binary Sale Technology Ltd ($8255) | 35.1% | 35.4% | 44.4% | 50.5% | |
| Boyaa Interactive International Ltd ($434) | 38.5% | 25.8% | 30.7% | 47.6% | |
| TravelSky Technology Ltd ($696) | 38.1% | 35.8% | 31.9% | 41.1% | |
| |
|---|
| Median (38 companies) | 9.8% | 13.7% | 10.1% | 9.5% | 5.4% |
|---|
| China Mobile Games and Cultural Investment Ltd ($8081) | -12.9% | -5.6% | 6.0% | -1.3% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| NetDragon Websoft Inc ($777) | 21.1% | 34.6% | 54.6% | 42.9% | |
| China Information Technology Development Ltd ($8178) | 4.1% | 1.1% | 0.5% | 40.7% | |
| Aurum Pacific China Group Ltd ($8148) | | 2.9% | 7.5% | 20.6% | |
| TravelSky Technology Ltd ($696) | 8.9% | 21.7% | 18.1% | 18.1% | |
| Kingsoft Corp Ltd ($3888) | 4.3% | 3.8% | 14.3% | 11.1% | |
| |
|---|
| Median (38 companies) | 1.5% | 1.5% | 2.6% | 2.0% | 0.5% |
|---|
| China Mobile Games and Cultural Investment Ltd ($8081) | 0.0% | 41.9% | 6.4% | 5.2% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Pizu Group Holdings Ltd ($8053) | -21.8% | -13.4% | -6.8% | 120.0% | 51.7% |
| ICO Group Ltd ($8140) | | 43.5% | 6.8% | 37.7% | 27.1% |
| IGG Inc ($8002) | | 55.9% | 41.4% | 25.9% | |
| Boyaa Interactive International Ltd ($434) | 75.3% | 21.3% | 20.0% | 21.4% | |
| Sinosoft Technology Group Ltd ($1297) | 34.0% | 21.9% | 20.2% | 20.8% | |
| |
|---|
| Median (38 companies) | 5.6% | 6.7% | 5.4% | 2.2% | 4.4% |
|---|
| China Mobile Games and Cultural Investment Ltd ($8081) | -15.9% | -9.1% | -4.7% | -3.1% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Epicurean and Co Ltd ($8213) | 2.3x | 4.7x | 12.3x | 12.0x | 13.9x |
| Sing Lee Software Group Ltd ($8076) | | | 6.2x | 4.4x | |
| Century Sage Scientific Holdings Ltd ($1450) | 0.2x | 0.0x | -0.2x | 1.8x | |
| Microsoft Corp ($4338) | | | 0.4x | 1.2x | 1.4x |
| Chinasoft International Ltd ($354) | -0.7x | 0.7x | 1.5x | 0.7x | |
| |
|---|
| Median (22 companies) | -1.0x | -1.4x | -1.6x | -1.1x | -0.5x |
|---|
