Playmates Holdings Ltd Net Income dropped on 127% and Revenue dropped on 30.2%
24/03/2017 • About Playmates Holdings Ltd (
$635) • By InTwits
Playmates Holdings 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. 32.8% in FY2015 vs. 22.0% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Playmates Holdings Ltd ($635) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 490 | 1,881 | 2,398 | 1,791 | 1,251 | -30.2% |
| Gross Profit | 322 | 1,243 | 1,552 | 1,175 | | -100.0% |
| SG&A | 212 | 572 | 760 | 614 | | -100.0% |
| EBITDA | 108 | 690 | 804 | 587 | | -100.0% |
| Net Income | 1,170 | 1,178 | 758 | 414 | -110 | -126.6% |
Balance Sheet
|
|---|
| Cash | 466 | 739 | 1,234 | 1,161 | | -100.0% |
| Short Term Debt | 364 | 364 | 364 | 495 | | -100.0% |
| Long Term Debt | 163 | 107 | 66 | 35 | | -100.0% |
Cash flow
|
|---|
| Capex | 56 | 84 | 48 | 275 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 200.7% | 283.5% | 27.5% | -25.3% | -30.2% | |
| EBITDA growth | -550.9% | 538.1% | 16.5% | -27.0% | | |
| Gross Margin | 65.7% | 66.1% | 64.7% | 65.6% | | -65.6% |
| EBITDA Margin | 22.0% | 36.7% | 33.5% | 32.8% | 0.0% | -32.8% |
| Net Income Margin | 238.6% | 62.6% | 31.6% | 23.1% | -8.8% | -31.9% |
| SG&A, % of revenue | 43.1% | 30.4% | 31.7% | 34.3% | | -34.3% |
| CAPEX, % of revenue | 11.5% | 4.5% | 2.0% | 15.4% | | -15.4% |
| ROIC | 2.4% | 12.6% | 12.0% | 7.9% | | -7.9% |
| ROE | 32.7% | 25.2% | 13.4% | 6.6% | | -6.6% |
| Net Debt/EBITDA | 0.6x | -0.4x | -1.0x | -1.1x | | 1.1x |
Revenue and profitability
Playmates Holdings Ltd's Revenue dropped on 30.2%.
Net Income marign dropped on 31.9 pp from 23.1% to -8.8% in FY2016.
Appendix 1: Peers in Toys/Games/Hobbies
Below you can find Playmates Holdings Ltd benchmarking vs. other companies in Toys/Games/Hobbies 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 |
|---|
| Leyou Technologies Holdings Ltd ($1089) | 18.8% | 32.3% | 17.7% | 31.0% | |
| Kin Yat Holdings Ltd ($638) | | 8.8% | 5.0% | 17.1% | 6.8% |
| Dream International Ltd ($1126) | 24.9% | -0.1% | 21.0% | 10.8% | |
| Matrix Holdings Ltd ($1005) | | 17.5% | 12.2% | 10.1% | -2.3% |
| Kader Holdings Co Ltd ($180) | -3.7% | -25.8% | -11.1% | 8.3% | |
| |
|---|
| Median (9 companies) | 4.5% | 8.8% | 12.2% | 8.3% | -4.7% |
|---|
| Playmates Holdings Ltd ($635) | | 283.5% | 27.5% | -25.3% | -30.2% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Playmates Toys Ltd ($869) | 60.3% | 62.8% | 61.9% | 61.6% | |
| Green International Holdings Ltd ($2700) | 17.8% | 1.8% | 8.1% | 59.2% | |
| Matrix Holdings Ltd ($1005) | 34.3% | 37.1% | 38.4% | 36.9% | 36.0% |
| Kiu Hung International Holdings Ltd ($381) | 30.9% | 29.0% | 32.1% | 35.7% | |
| Dream International Ltd ($1126) | 25.6% | 29.1% | 22.4% | 23.5% | |
| |
|---|
| Median (8 companies) | 21.7% | 20.9% | 17.5% | 29.6% | 12.4% |
|---|
| Playmates Holdings Ltd ($635) | 65.7% | 66.1% | 64.7% | 65.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Playmates Toys Ltd ($869) | 15.1% | 33.0% | 30.2% | 25.8% | |
| Kader Holdings Co Ltd ($180) | -4.2% | -3.0% | 5.8% | 23.0% | |
| Matrix Holdings Ltd ($1005) | 10.2% | 13.2% | 15.0% | 17.4% | 13.8% |
| Dream International Ltd ($1126) | 13.2% | 14.8% | 9.8% | 12.9% | |
| Kin Yat Holdings Ltd ($638) | 4.8% | 8.4% | 8.8% | 8.6% | 6.3% |
| |
|---|
| Median (9 companies) | 6.6% | 5.6% | 5.8% | 8.6% | 6.3% |
|---|
| Playmates Holdings Ltd ($635) | 22.0% | 36.7% | 33.5% | 32.8% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Green International Holdings Ltd ($2700) | 0.2% | 3.2% | 6.5% | 29.2% | |
| Dream International Ltd ($1126) | 2.9% | 3.8% | 11.2% | 7.3% | |
| Kin Yat Holdings Ltd ($638) | 9.8% | 4.6% | 7.5% | 4.8% | 2.1% |
| Leyou Technologies Holdings Ltd ($1089) | 15.8% | 3.8% | 2.6% | 4.5% | |
| Quali-Smart Holdings Ltd ($1348) | 1.5% | 2.2% | 12.7% | 3.0% | 0.9% |
| |
|---|
| Median (9 companies) | 3.5% | 3.2% | 2.8% | 3.0% | 1.5% |
|---|
| Playmates Holdings Ltd ($635) | 11.5% | 4.5% | 2.0% | 15.4% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Playmates Toys Ltd ($869) | 30.7% | 121.1% | 73.0% | 36.6% | |
| Matrix Holdings Ltd ($1005) | 5.9% | 13.1% | 18.6% | 21.2% | 13.7% |
| Dream International Ltd ($1126) | 19.3% | 19.4% | 13.3% | 19.4% | |
| Kader Holdings Co Ltd ($180) | -5.7% | -3.9% | 0.6% | 7.9% | |
| Kin Yat Holdings Ltd ($638) | -0.7% | 4.5% | 4.9% | 6.2% | 3.4% |
| |
|---|
| Median (9 companies) | 5.9% | 4.5% | 4.9% | 6.2% | 3.4% |
|---|
| Playmates Holdings Ltd ($635) | 2.4% | 12.6% | 12.0% | 7.9% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Quali-Smart Holdings Ltd ($1348) | 0.6x | -0.7x | 0.9x | 4.5x | 1.3x |
| Kader Holdings Co Ltd ($180) | | | 9.6x | 1.5x | |
| Leyou Technologies Holdings Ltd ($1089) | 1.1x | 4.4x | 3.8x | 1.2x | |
| Kin Yat Holdings Ltd ($638) | 1.6x | 0.3x | 0.4x | -0.0x | -0.1x |
| Matrix Holdings Ltd ($1005) | 0.6x | 0.0x | -0.2x | -0.6x | -0.8x |
| |
|---|
| Median (7 companies) | 0.6x | -0.3x | 0.4x | -0.0x | -0.1x |
|---|
| Playmates Holdings Ltd ($635) | 0.6x | -0.4x | -1.0x | -1.1x | |
