China Star Cultural Media Group Ltd revenue surged on 326%
24/03/2017 • About China Star Cultural Media Group Ltd (
$8172) • By InTwits
China Star Cultural Media Group Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- EBITDA Margin is declining: in FY2016 vs. -874.2% in FY2015 vs. -41.4% in FY2012
- China Star Cultural Media Group 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 -99.0%0
- It operates with high leverage: Net Debt/EBITDA is 7.0x while industry average is -3.8x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
China Star Cultural Media Group Ltd ($8172) key annual financial indicators
| mln. | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 26.547 | 15.698 | 5.949 | 5.662 | 24.143 | 326.4% |
| Gross Profit | 6.117 | 4.750 | 1.520 | 0.855 | | -100.0% |
| SG&A | | | 11.682 | 42.037 | | -100.0% |
| EBITDA | -10.994 | -8.845 | -7.877 | -49.496 | | |
| Net Income | -15.100 | -12.828 | -2.601 | -30.343 | -224.239 | |
Balance Sheet
|
|---|
| Cash | 53.533 | 48.780 | 158.800 | 905.836 | | -100.0% |
| Short Term Debt | 5.637 | 0.000 | 0.000 | 0.000 | | |
| Long Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | | |
Cash flow
|
|---|
| Capex | 2.375 | 0.000 | 0.000 | 48.028 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -40.1% | -40.9% | -62.1% | -4.8% | 326.4% | |
| EBITDA growth | -221.7% | -19.5% | -10.9% | 528.4% | | |
| Gross Margin | 23.0% | 30.3% | 25.6% | 15.1% | | -15.1% |
| EBITDA Margin | -41.4% | -56.3% | -132.4% | -874.2% | 0.0% | 874.2% |
| Net Income Margin | -56.9% | -81.7% | -43.7% | -535.9% | -928.8% | -392.9% |
| SG&A, % of revenue | | | 196.4% | 742.4% | | -742.4% |
| CAPEX, % of revenue | 8.9% | 0.0% | 0.0% | 848.3% | | -848.3% |
| ROIC | -11.9% | -11.5% | -6.4% | -8.4% | | 8.4% |
| ROE | -16.7% | -16.3% | -2.1% | -5.1% | | 5.1% |
Revenue and profitability
The company's Revenue surged on 326%.
Net Income marign dropped on 393 pp from -536% to -929% in FY2016.
Appendix 1: Peers in Entertainment
Below we provide China Star Cultural Media Group Ltd benchmarking against other companies in Entertainment 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 |
|---|
| Neo Telemedia Ltd ($8167) | 268.8% | -60.2% | -13.4% | 5,442.4% | |
| National Arts Entertainment and Culture Group Ltd ($8228) | | 181.2% | -20.1% | 162.4% | 44.4% |
| Alibaba Pictures Group Ltd ($1060) | 169.4% | -45.8% | -63.8% | 108.3% | |
| SMI Holdings Group Ltd ($198) | 16.4% | 65.4% | 16.4% | 77.2% | |
| Universe International Holdings Ltd ($1046) | | 4.3% | 159.4% | 46.3% | -97.5% |
| |
|---|
| Median (27 companies) | 16.4% | 11.6% | 1.2% | -4.3% | 5.6% |
|---|
| China Star Cultural Media Group Ltd ($8172) | | -40.9% | -62.1% | -4.8% | 326.4% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Amax International Holdings Ltd ($959) | | 92.1% | 98.6% | 96.6% | 70.6% |
| China Vanguard Group Ltd ($8156) | 63.8% | 88.2% | 93.8% | 95.2% | 91.0% |
| Universe International Holdings Ltd ($1046) | 22.1% | 36.7% | 11.4% | 84.8% | -635.1% |
| Cheung Wo International Holdings Ltd ($9) | -17.5% | 71.4% | 77.7% | 77.8% | |
| REXLot Holdings Ltd ($555) | 70.2% | 73.1% | 73.4% | 67.4% | |
| |
|---|
| Median (23 companies) | 44.8% | 52.7% | 44.3% | 44.3% | 36.4% |
|---|
| China Star Cultural Media Group Ltd ($8172) | 23.0% | 30.3% | 25.6% | 15.1% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Neptune Group Ltd ($70) | 98.6% | 98.6% | 86.6% | 99.0% | 76.3% |
| Universe International Holdings Ltd ($1046) | 36.6% | 44.6% | 74.6% | 73.6% | -1,418.4% |
| Haichang Holdings Ltd ($2255) | 55.0% | 44.5% | 46.3% | 56.6% | |
| REXLot Holdings Ltd ($555) | 53.7% | 55.1% | 6.1% | 40.5% | |
| SMI Holdings Group Ltd ($198) | 19.2% | 35.4% | 34.5% | 31.2% | |
| |
|---|
| Median (27 companies) | 24.0% | 20.3% | 19.5% | 2.2% | -11.0% |
|---|
| China Star Cultural Media Group Ltd ($8172) | -41.4% | -56.3% | -132.4% | -874.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| National Arts Entertainment and Culture Group Ltd ($8228) | 1,237.1% | 771.1% | 799.0% | 508.9% | |
| Cheung Wo International Holdings Ltd ($9) | 90.3% | 465.2% | 383.2% | 202.4% | |
| Haichang Holdings Ltd ($2255) | 21.4% | 18.5% | 10.3% | 64.2% | |
| Amax International Holdings Ltd ($959) | 10.4% | 2.7% | 17.2% | 59.8% | 42.5% |
| Pegasus Entertainment Holdings Ltd ($1326) | 0.1% | 0.7% | 0.1% | 30.6% | 0.3% |
| |
|---|
| Median (27 companies) | 8.5% | 7.8% | 4.8% | 8.1% | 4.3% |
|---|
| China Star Cultural Media Group Ltd ($8172) | 8.9% | 0.0% | 0.0% | 848.3% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Universe International Holdings Ltd ($1046) | -6.2% | -0.8% | -3.7% | 43.8% | -17.0% |
| China Animation Characters Co Ltd ($1566) | | 119.2% | 117.8% | 24.1% | 14.0% |
| Neptune Group Ltd ($70) | 22.8% | 23.8% | 21.1% | 18.1% | 0.3% |
| SMI Holdings Group Ltd ($198) | 1.3% | 8.4% | 9.9% | 10.5% | |
| Dynam Japan Holdings Co Ltd ($6889) | 23.8% | 25.4% | 21.8% | 10.5% | 12.6% |
| |
|---|
| Median (28 companies) | -1.1% | 5.1% | 0.7% | -1.7% | -5.9% |
|---|
| China Star Cultural Media Group Ltd ($8172) | -11.9% | -11.5% | -6.4% | -8.4% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Orange Sky Golden Harvest Entertainment Holdings Ltd ($1132) | 1.1x | 4.2x | 2.7x | 25.8x | |
| Nan Hai Corp Ltd ($680) | 80.8x | 3.5x | 20.8x | 12.6x | 4.5x |
| Haichang Holdings Ltd ($2255) | 7.0x | 4.7x | 1.7x | 1.7x | |
| SMI Holdings Group Ltd ($198) | 2.0x | 1.6x | 2.1x | 1.6x | |
| REXLot Holdings Ltd ($555) | -0.0x | -0.2x | 7.2x | 1.6x | |
| |
|---|
| Median (14 companies) | -0.1x | -0.5x | -0.3x | -0.5x | -0.4x |
|---|
