Playmates Toys Ltd Net Income dropped on 60.1% and Revenue dropped on 36.0%
24/03/2017 • About Playmates Toys Ltd (
$869) • By InTwits
Playmates Toys 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. 25.8% in FY2015 vs. 15.1% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Playmates Toys Ltd ($869) key annual financial indicators
| mln. HKD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 372 | 1,659 | 2,160 | 1,551 | 993 | -36.0% |
| Gross Profit | 224 | 1,042 | 1,336 | 956 | | -100.0% |
| SG&A | 172 | 495 | 688 | 560 | | -100.0% |
| EBITDA | 56 | 547 | 652 | 401 | | -100.0% |
| Net Income | 43 | 533 | 491 | 276 | 110 | -60.1% |
Balance Sheet
|
|---|
| Cash | 161 | 520 | 786 | 877 | | -100.0% |
| Short Term Debt | 0 | 0 | 0 | 0 | | |
| Long Term Debt | 0 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 0 | 1 | 4 | 4 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 726.8% | 346.3% | 30.2% | -28.2% | -36.0% | |
| EBITDA growth | -167.0% | 874.4% | 19.1% | -38.5% | | |
| Gross Margin | 60.3% | 62.8% | 61.9% | 61.6% | | -61.6% |
| EBITDA Margin | 15.1% | 33.0% | 30.2% | 25.8% | 0.0% | -25.8% |
| Net Income Margin | 11.7% | 32.2% | 22.7% | 17.8% | 11.1% | -6.7% |
| SG&A, % of revenue | 46.2% | 29.9% | 31.9% | 36.1% | | -36.1% |
| CAPEX, % of revenue | 0.0% | 0.0% | 0.2% | 0.2% | | -0.2% |
| ROIC | 30.7% | 121.1% | 73.0% | 36.6% | | -36.6% |
| ROE | 30.4% | 113.1% | 54.9% | 25.5% | | -25.5% |
| Net Debt/EBITDA | -2.9x | -0.9x | -1.2x | -2.2x | | 2.2x |
Revenue and profitability
Playmates Toys Ltd's Revenue dropped on 36.0%.
Net Income marign decreased on 6.7 pp from 17.8% to 11.1% in FY2016.
Appendix 1: Peers in Toys/Games/Hobbies
Below you can find Playmates Toys 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 Toys Ltd ($869) | | 346.3% | 30.2% | -28.2% | -36.0% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Playmates Holdings Ltd ($635) | 65.7% | 66.1% | 64.7% | 65.6% | |
| 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 Toys Ltd ($869) | 60.3% | 62.8% | 61.9% | 61.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Playmates Holdings Ltd ($635) | 22.0% | 36.7% | 33.5% | 32.8% | |
| 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 Toys Ltd ($869) | 15.1% | 33.0% | 30.2% | 25.8% | |
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% | |
| Playmates Holdings Ltd ($635) | 11.5% | 4.5% | 2.0% | 15.4% | |
| 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% | |
| |
|---|
| Median (9 companies) | 4.7% | 3.7% | 2.8% | 4.5% | 1.5% |
|---|
| Playmates Toys Ltd ($869) | 0.0% | 0.0% | 0.2% | 0.2% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| 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% | |
| Playmates Holdings Ltd ($635) | 2.4% | 12.6% | 12.0% | 7.9% | |
| Kin Yat Holdings Ltd ($638) | -0.7% | 4.5% | 4.9% | 6.2% | 3.4% |
| |
|---|
| Median (9 companies) | 2.4% | 4.5% | 4.9% | 6.2% | 3.4% |
|---|
| Playmates Toys Ltd ($869) | 30.7% | 121.1% | 73.0% | 36.6% | |
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 | -0.2x | 0.4x | -0.0x | -0.1x |
|---|
| Playmates Toys Ltd ($869) | -2.9x | -0.9x | -1.2x | -2.2x | |
