Phoenix Healthcare Group Co Ltd reports 1,002% Net Income decline in 2016 while 11.7% Revenue growth
24/03/2017 • About Phoenix Healthcare Group Co Ltd (
$1515) • By InTwits
Phoenix Healthcare Group Co 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. 20.4% in FY2015 vs. 26.5% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Phoenix Healthcare Group Co Ltd ($1515) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 758 | 887 | 1,206 | 1,372 | 1,533 | 11.7% |
| Gross Profit | 185 | 213 | 298 | 330 | | -100.0% |
| SG&A | 50 | 74 | 86 | 150 | | -100.0% |
| EBITDA | 201 | 236 | 311 | 280 | | -100.0% |
| Net Income | 101 | 90 | 230 | 167 | -1,507 | -1,002.1% |
Balance Sheet
|
|---|
| Cash | 113 | 1,106 | 996 | 939 | | -100.0% |
| Short Term Debt | 7 | 200 | 0 | 0 | | |
| Long Term Debt | 232 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 28 | 21 | 36 | 32 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 48.8% | 17.1% | 35.9% | 13.8% | 11.7% | |
| EBITDA growth | 80.9% | 17.2% | 32.1% | -10.1% | | |
| Gross Margin | 24.4% | 24.0% | 24.7% | 24.0% | | -24.0% |
| EBITDA Margin | 26.5% | 26.5% | 25.8% | 20.4% | 0.0% | -20.4% |
| Net Income Margin | 13.3% | 10.1% | 19.1% | 12.2% | -98.3% | -110.5% |
| SG&A, % of revenue | 6.6% | 8.4% | 7.1% | 10.9% | | -10.9% |
| CAPEX, % of revenue | 3.7% | 2.4% | 3.0% | 2.3% | | -2.3% |
| ROIC | 17.9% | 14.3% | 14.6% | 12.8% | | -12.8% |
| ROE | 18.8% | 8.6% | 14.2% | 9.9% | | -9.9% |
| Net Debt/EBITDA | 0.6x | -3.8x | -3.2x | -3.4x | | 3.4x |
Revenue and profitability
Phoenix Healthcare Group Co Ltd's Revenue jumped on 11.7%.
Net Income marign dropped on 110 pp from 12.2% to -98.3% in FY2016.
Appendix 1: Peers in Healthcare-Services
Below we provide Phoenix Healthcare Group Co Ltd benchmarking against other companies in Healthcare-Services 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 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Town Health International Medical Group Ltd ($3886) | 0.7% | 3.7% | 39.5% | 127.0% | |
| SkyOcean International Holdings Ltd ($593) | 15.7% | -7.4% | -30.5% | 38.1% | |
| China Natural Investment Co Ltd ($8250) | | -13.8% | 509.5% | 21.9% | 11.6% |
| Hua Xia Healthcare Holdings Ltd ($8143) | | 10.1% | 11.0% | -20.6% | -11.6% |
| |
|---|
| Median (4 companies) | 8.2% | -1.8% | 25.3% | 30.0% | 0.0% |
|---|
| Phoenix Healthcare Group Co Ltd ($1515) | | 17.1% | 35.9% | 13.8% | 11.7% |
Top companies by Gross margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Town Health International Medical Group Ltd ($3886) | 34.7% | 33.9% | 32.5% | 42.7% | |
| Hua Xia Healthcare Holdings Ltd ($8143) | 12.8% | 11.8% | 12.0% | 15.6% | 17.7% |
| China Natural Investment Co Ltd ($8250) | 38.1% | 32.4% | 10.6% | 12.4% | 33.4% |
| |
|---|
| Median (3 companies) | 34.7% | 32.4% | 12.0% | 15.6% | 25.6% |
|---|
| Phoenix Healthcare Group Co Ltd ($1515) | 24.4% | 24.0% | 24.7% | 24.0% | |
Top companies by EBITDA margin, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| SkyOcean International Holdings Ltd ($593) | 28.4% | 31.5% | -151.1% | 29.4% | |
| Town Health International Medical Group Ltd ($3886) | -135.5% | -44.4% | -0.3% | 19.4% | |
| Hua Xia Healthcare Holdings Ltd ($8143) | 5.5% | 4.6% | 5.2% | 2.1% | -0.2% |
| China Natural Investment Co Ltd ($8250) | -33.3% | -39.5% | -7.2% | -9.6% | 50.7% |
| |
|---|
| Median (4 companies) | -13.9% | -17.5% | -3.7% | 10.8% | 25.2% |
|---|
| Phoenix Healthcare Group Co Ltd ($1515) | 26.5% | 26.5% | 25.8% | 20.4% | |
Top companies by CAPEX/Revenue, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| SkyOcean International Holdings Ltd ($593) | 0.9% | 1.3% | 4.8% | 385.3% | |
| Town Health International Medical Group Ltd ($3886) | 5.0% | 48.6% | 16.8% | 22.1% | |
| Hua Xia Healthcare Holdings Ltd ($8143) | 0.9% | 0.5% | 0.5% | 1.2% | |
| China Natural Investment Co Ltd ($8250) | 36.8% | 16.8% | 2.1% | 0.2% | 6.6% |
| |
|---|
| Median (4 companies) | 2.9% | 9.0% | 3.4% | 11.7% | 6.6% |
|---|
| Phoenix Healthcare Group Co Ltd ($1515) | 3.7% | 2.4% | 3.0% | 2.3% | |
Top companies by ROIC, %
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Town Health International Medical Group Ltd ($3886) | -29.7% | -10.9% | -2.3% | 4.4% | |
| Hua Xia Healthcare Holdings Ltd ($8143) | 7.5% | 6.5% | 8.1% | 2.2% | -3.8% |
| SkyOcean International Holdings Ltd ($593) | 2.8% | 2.4% | -5.2% | 0.7% | |
| China Natural Investment Co Ltd ($8250) | -6.4% | -4.9% | -4.5% | -5.6% | 18.4% |
| |
|---|
| Median (4 companies) | -1.8% | -1.2% | -3.4% | 1.5% | 7.3% |
|---|
| Phoenix Healthcare Group Co Ltd ($1515) | 17.9% | 14.3% | 14.6% | 12.8% | |
Top companies by Net Debt / EBITDA
| Top | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| SkyOcean International Holdings Ltd ($593) | -20.7x | -0.8x | | 83.1x | |
| Hua Xia Healthcare Holdings Ltd ($8143) | 1.7x | 1.9x | 0.9x | 3.5x | |
| Town Health International Medical Group Ltd ($3886) | | | | -7.7x | |
| |
|---|
| Median (3 companies) | -9.5x | 0.5x | 0.9x | 3.5x | -0.4x |
|---|
| Phoenix Healthcare Group Co Ltd ($1515) | 0.6x | -3.8x | -3.2x | -3.4x | |
