Xingda International Holdings Ltd reports 59.9% Net Income growth
24/03/2017 • About Xingda International Holdings Ltd (
$1899) • By InTwits
Xingda International 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. 13.6% in FY2015 vs. 17.3% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Xingda International Holdings Ltd ($1899) key annual financial indicators
| mln. CNY | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 5,247 | 5,585 | 5,595 | 4,737 | 5,469 | 15.5% |
| Gross Profit | 1,070 | 1,385 | 1,273 | 850 | | -100.0% |
| SG&A | 580 | 626 | 634 | 657 | | -100.0% |
| EBITDA | 909 | 1,237 | 1,070 | 643 | | -100.0% |
| Net Income | 189 | 415 | 328 | 174 | 278 | 59.9% |
Balance Sheet
|
|---|
| Cash | 521 | 414 | 531 | 733 | | -100.0% |
| Short Term Debt | 1,190 | 1,016 | 1,234 | 515 | | -100.0% |
| Long Term Debt | 0 | 0 | 0 | 0 | | |
Cash flow
|
|---|
| Capex | 405 | 313 | 355 | 418 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -5.5% | 6.4% | 0.2% | -15.3% | 15.5% | |
| EBITDA growth | -24.3% | 36.2% | -13.5% | -40.0% | | |
| Gross Margin | 20.4% | 24.8% | 22.8% | 17.9% | | -17.9% |
| EBITDA Margin | 17.3% | 22.2% | 19.1% | 13.6% | 0.0% | -13.6% |
| Net Income Margin | 3.6% | 7.4% | 5.9% | 3.7% | 5.1% | 1.4% |
| SG&A, % of revenue | 11.1% | 11.2% | 11.3% | 13.9% | | -13.9% |
| CAPEX, % of revenue | 7.7% | 5.6% | 6.4% | 8.8% | | -8.8% |
| ROIC | 6.2% | 10.3% | 7.8% | 2.0% | | -2.0% |
| ROE | 3.9% | 8.4% | 6.4% | 3.4% | | -3.4% |
| Net Debt/EBITDA | 0.7x | 0.5x | 0.7x | -0.3x | | 0.3x |
Revenue and profitability
The company's Revenue jumped on 15.5%.
Net Income marign increased slightly on 1.4 pp from 3.7% to 5.1% in FY2016.
Appendix 1: Peers in Iron/Steel
Below you can find Xingda International Holdings Ltd benchmarking vs. other companies in Iron/Steel 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 |
|---|
| CAA Resources Ltd ($2112) | | 103.2% | 38.0% | 261.2% | 125.5% |
| Newton Resources Ltd ($1231) | | | -41.6% | 170.9% | |
| Fosun International Ltd ($656) | -8.9% | -1.4% | 21.0% | 27.6% | |
| Wanguo International Mining Group Ltd ($3939) | -1.0% | -11.0% | -16.2% | 0.7% | |
| Da Ming International Holdings Ltd ($1090) | | 29.3% | 29.8% | -8.1% | 13.7% |
| |
|---|
| Median (19 companies) | -10.5% | -1.1% | -6.0% | -21.1% | 13.7% |
|---|
| Xingda International Holdings Ltd ($1899) | | 6.4% | 0.2% | -15.3% | 15.5% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Newton Resources Ltd ($1231) | | -223.7% | 15.7% | 37.5% | |
| Wanguo International Mining Group Ltd ($3939) | 47.4% | 50.7% | 39.6% | 29.2% | |
| China Metal International Holdings Inc ($319) | 20.9% | 24.3% | 24.8% | 25.5% | |
| China Hanking Holdings Ltd ($3788) | 53.6% | 54.4% | 35.1% | 23.8% | |
| Fosun International Ltd ($656) | 18.0% | 20.3% | 23.7% | 22.4% | |
| |
|---|
| Median (19 companies) | 14.8% | 12.7% | 11.3% | 8.5% | 9.4% |
|---|
| Xingda International Holdings Ltd ($1899) | 20.4% | 24.8% | 22.8% | 17.9% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Wanguo International Mining Group Ltd ($3939) | 39.7% | 36.2% | 31.3% | 26.7% | |
| Fosun International Ltd ($656) | 16.7% | 23.0% | 20.9% | 22.2% | |
| China Metal International Holdings Inc ($319) | 19.7% | 21.3% | 21.0% | 22.0% | |
| Tiangong International Co Ltd ($826) | 25.1% | 25.8% | 19.3% | 11.6% | |
| Xiwang Special Steel Co Ltd ($1266) | 9.2% | 11.7% | 13.4% | 11.2% | |
| |
|---|
| Median (19 companies) | 12.6% | 11.7% | 7.1% | 1.9% | 3,240.6% |
|---|
| Xingda International Holdings Ltd ($1899) | 17.3% | 22.2% | 19.1% | 13.6% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Newton Resources Ltd ($1231) | | 926.9% | 1,395.7% | 197.0% | |
| Vale SA ($6210) | 34.0% | 28.1% | 29.8% | 34.5% | 18.3% |
| China Hanking Holdings Ltd ($3788) | 38.0% | 35.7% | 20.2% | 30.5% | |
| Pan Asia Mining Ltd ($8173) | 1.5% | 0.4% | 2.4% | 24.4% | 7.6% |
| China Vanadium Titano - Magnetite Mining Co Ltd ($893) | 8.9% | 10.5% | 20.4% | 24.1% | |
| |
|---|
| Median (19 companies) | 9.0% | 10.9% | 8.1% | 7.2% | 12.9% |
|---|
| Xingda International Holdings Ltd ($1899) | 7.7% | 5.6% | 6.4% | 8.8% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| China Metal International Holdings Inc ($319) | 11.0% | 12.0% | 12.7% | 11.4% | |
| Wanguo International Mining Group Ltd ($3939) | 38.4% | 24.4% | 15.0% | 11.1% | |
| Golik Holdings Ltd ($1118) | 7.0% | 7.4% | 10.0% | 10.8% | |
| CAA Resources Ltd ($2112) | 69.2% | 33.5% | 2.2% | 6.9% | |
| Fosun International Ltd ($656) | 6.1% | 7.9% | 6.8% | 6.9% | |
| |
|---|
| Median (19 companies) | 6.7% | 7.5% | 3.1% | -3.9% | 33.9% |
|---|
| Xingda International Holdings Ltd ($1899) | 6.2% | 10.3% | 7.8% | 2.0% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Angang Steel Co Ltd ($347) | 21.4x | 4.0x | 4.3x | 29.1x | |
| China Hanking Holdings Ltd ($3788) | 0.4x | 2.5x | 4.7x | 27.3x | |
| Tiangong International Co Ltd ($826) | 2.5x | 3.0x | 3.2x | 6.9x | |
| Fosun International Ltd ($656) | 4.4x | 4.8x | 5.5x | 4.4x | |
| China Oriental Group Co Ltd ($581) | 4.6x | 5.3x | 4.5x | 3.3x | |
| |
|---|
| Median (10 companies) | 2.3x | 3.0x | 3.2x | 2.7x | 4.2x |
|---|
| Xingda International Holdings Ltd ($1899) | 0.7x | 0.5x | 0.7x | -0.3x | |
