Jingwei Textile Machinery EBITDA Margin dropped on 28.5 pp from 28.5% to in 2016
24/03/2017 • About Jingwei Textile Machinery (
$350) • By InTwits
Jingwei Textile Machinery reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Jingwei Textile Machinery ($350) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 8,632 | 10,479 | 9,946 | 10,057 | 10,267 | 2.1% |
| Gross Profit | 4,240 | 5,416 | 5,460 | 6,587 | | -100.0% |
| SG&A | 2,520 | 2,968 | 3,006 | 3,659 | | -100.0% |
| EBITDA | 2,069 | 2,815 | 2,785 | 2,868 | | -100.0% |
| Net Income | 437 | 597 | 546 | 458 | 545 | 18.9% |
Balance Sheet
|
|---|
| Cash | 6,480 | 9,314 | 4,994 | 8,641 | | -100.0% |
| Short Term Debt | 1,927 | 2,582 | 2,732 | 3,443 | | -100.0% |
| Long Term Debt | 1,225 | 1,201 | 1,400 | 2,649 | | -100.0% |
Cash flow
|
|---|
| Capex | 366 | 161 | 128 | 128 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -15.4% | 21.4% | -5.1% | 1.1% | 2.1% | |
| EBITDA growth | 9.4% | 36.1% | -1.1% | 3.0% | | |
| Gross Margin | 49.1% | 51.7% | 54.9% | 65.5% | | -65.5% |
| EBITDA Margin | 24.0% | 26.9% | 28.0% | 28.5% | 0.0% | -28.5% |
| Net Income Margin | 5.1% | 5.7% | 5.5% | 4.6% | 5.3% | 0.8% |
| SG&A, % of revenue | 29.2% | 28.3% | 30.2% | 36.4% | | -36.4% |
| CAPEX, % of revenue | 4.2% | 1.5% | 1.3% | 1.3% | | -1.3% |
| ROIC | 19.4% | 20.9% | 17.4% | 14.9% | | -14.9% |
| ROE | 10.8% | 12.2% | 10.2% | 7.9% | | -7.9% |
| Net Debt/EBITDA | -1.6x | -2.0x | -0.3x | -0.9x | | 0.9x |
Revenue and profitability
The company's Revenue increased on 2.1%.
Net Income marign increased slightly on 0.75 pp from 4.6% to 5.3% in FY2016.
Appendix 1: Peers in Machinery-Diversified
Below you can find Jingwei Textile Machinery benchmarking vs. other companies in Machinery-Diversified 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 |
|---|
| Shanghai Prime Machinery Co Ltd ($2345) | | -8.9% | 37.3% | 52.8% | 7.3% |
| 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% |
| |
|---|
| Median (20 companies) | -3.3% | -4.7% | 2.0% | -8.2% | -8.5% |
|---|
| Jingwei Textile Machinery ($350) | | 21.4% | -5.1% | 1.1% | 2.1% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| 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% | 34.4% |
| 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% | |
| Wuxi Sunlit Science and Technology Co Ltd ($1289) | 59.7% | 58.3% | 48.6% | 26.7% | |
| |
|---|
| Median (20 companies) | 24.1% | 22.1% | 19.3% | 20.8% | 19.4% |
|---|
| Jingwei Textile Machinery ($350) | 49.1% | 51.7% | 54.9% | 65.5% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Haitian International Holdings Ltd ($1882) | 19.7% | 20.7% | 21.9% | 22.8% | 24.4% |
| 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% | |
| Shanghai Prime Machinery Co Ltd ($2345) | 7.8% | 8.9% | 7.7% | 9.2% | |
| |
|---|
| Median (20 companies) | 9.3% | 8.6% | 8.1% | 4.1% | 2.5% |
|---|
| Jingwei Textile Machinery ($350) | 24.0% | 26.9% | 28.0% | 28.5% | |
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% | 4.3% | 4.6% | 2.9% | 0.9% |
|---|
| Jingwei Textile Machinery ($350) | 4.2% | 1.5% | 1.3% | 1.3% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Haitian International Holdings Ltd ($1882) | 19.8% | 21.2% | 19.4% | 16.3% | 16.6% |
| Huazhang Technology Holding Ltd ($1673) | 29.6% | 16.2% | 16.3% | 16.2% | 12.8% |
| Good Friend International Holdings Inc ($2398) | 6.5% | 8.7% | 12.1% | 5.9% | |
| Shanghai Prime Machinery Co Ltd ($2345) | 2.5% | 2.8% | 2.5% | 5.8% | |
| Renheng Enterprise Holdings Ltd ($3628) | 17.0% | 12.8% | 6.9% | 4.8% | |
| |
|---|
| Median (20 companies) | 6.8% | 3.6% | 2.6% | 1.1% | 1.6% |
|---|
| Jingwei Textile Machinery ($350) | 19.4% | 20.9% | 17.4% | 14.9% | |
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) | -0.6x | 0.2x | 0.1x | 3.1x | 2.0x |
|---|
| Jingwei Textile Machinery ($350) | -1.6x | -2.0x | -0.3x | -0.9x | |
