Orient Victory China Holdings Ltd revenue jumped on 64.7%
26/03/2017 • About Orient Victory China Holdings Ltd (
$265) • By InTwits
Orient Victory China 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. -33.2% in FY2015 vs. 16.5% in FY2012.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Orient Victory China Holdings Ltd ($265) key annual financial indicators
| mln. | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 164.2 | 200.6 | 127.4 | 66.4 | 109.4 | 64.7% |
| Gross Profit | 113.9 | 123.4 | 85.9 | 32.6 | | -100.0% |
| SG&A | 93.1 | 107.6 | 90.4 | 54.8 | | -100.0% |
| EBITDA | 27.1 | 20.7 | -2.5 | -22.1 | | |
| Net Income | 19.2 | 21.8 | 1.0 | 1.4 | -191.8 | -14,111.4% |
Balance Sheet
|
|---|
| Cash | 31.9 | 34.2 | 56.9 | 318.3 | | -100.0% |
| Short Term Debt | 62.8 | 37.4 | 15.6 | 65.7 | | -100.0% |
| Long Term Debt | 57.9 | 60.8 | 0.0 | 440.7 | | -100.0% |
Cash flow
|
|---|
| Capex | 2.5 | 2.8 | 1.6 | 0.2 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 7.8% | 22.2% | -36.5% | -47.9% | 64.7% | |
| EBITDA growth | 210.7% | -23.8% | -112.1% | 784.5% | | |
| Gross Margin | 69.4% | 61.6% | 67.4% | 49.1% | | -49.1% |
| EBITDA Margin | 16.5% | 10.3% | -2.0% | -33.2% | 0.0% | 33.2% |
| Net Income Margin | 11.7% | 10.9% | 0.8% | 2.1% | -175.3% | -177.4% |
| SG&A, % of revenue | 56.7% | 53.6% | 70.9% | 82.5% | | -82.5% |
| CAPEX, % of revenue | 1.5% | 1.4% | 1.3% | 0.3% | | -0.3% |
| ROIC | 8.0% | 5.7% | -2.0% | -4.3% | | 4.3% |
| ROE | 12.9% | 12.2% | 0.7% | 0.5% | | -0.5% |
| Net Debt/EBITDA | 3.3x | 3.1x | | | | 0.0x |
Revenue and profitability
Orient Victory China Holdings Ltd's Revenue jumped on 64.7%.
Net Income marign dropped on 177 pp from 2.1% to -175% in FY2016.
Appendix 1: Peers in Holding Companies-Divers
Below we provide Orient Victory China Holdings Ltd benchmarking against other companies in Holding Companies-Divers 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 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Beijing Development HK Ltd ($154) | 12.5% | | | 1,048.9% | |
| Kong Sun Holdings Ltd ($295) | | 5.1% | 7,067.0% | 231.2% | -67.7% |
| CIAM Group Ltd ($378) | -62.2% | 47.9% | -40.0% | 211.5% | |
| Melco International Development Ltd ($200) | 16.5% | 21.7% | 3.0% | 134.9% | |
| New Century Group Hong Kong Ltd ($234) | | 326.7% | -70.3% | 118.2% | -78.2% |
| |
|---|
| Median (45 companies) | 14.5% | 4.9% | 15.7% | 7.2% | -0.4% |
|---|
| Orient Victory China Holdings Ltd ($265) | | 22.2% | -36.5% | -47.9% | 64.7% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| New Century Group Hong Kong Ltd ($234) | 27.3% | 85.2% | 82.8% | 91.5% | 43.4% |
| Melco International Development Ltd ($200) | 63.1% | 52.9% | 54.5% | 79.4% | |
| CIAM Group Ltd ($378) | | | | 75.8% | |
| Emperor International Holdings Ltd ($163) | 71.3% | 64.9% | 79.2% | 75.3% | 55.3% |
| Heng Fai Enterprises Ltd ($185) | 89.0% | 89.5% | 58.3% | 74.7% | |
| |
|---|
| Median (39 companies) | 32.9% | 34.6% | 30.8% | 30.8% | 35.3% |
|---|
| Orient Victory China Holdings Ltd ($265) | 69.4% | 61.6% | 67.4% | 49.1% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| New Century Group Hong Kong Ltd ($234) | -5.5% | 78.8% | 58.3% | 85.0% | 33.8% |
| Emperor International Holdings Ltd ($163) | 180.7% | 131.8% | 100.6% | 73.9% | -20.1% |
| Pioneer Global Group Ltd ($224) | -0.5% | -9.9% | -11.6% | 64.3% | 66.8% |
| C C Land Holdings Ltd ($1224) | 27.0% | 23.6% | 24.6% | 55.7% | |
| China Merchants Holdings International Co Ltd ($144) | 56.4% | 50.8% | 45.2% | 55.7% | |
| |
|---|
| Median (45 companies) | 2.8% | 2.8% | 9.3% | 6.8% | 9.1% |
|---|
| Orient Victory China Holdings Ltd ($265) | 16.5% | 10.3% | -2.0% | -33.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Heng Fai Enterprises Ltd ($185) | 4.8% | 77.1% | 310.0% | 458.1% | |
| Chinney Investments Ltd ($216) | 17.5% | 103.4% | 111.3% | 230.9% | 26.6% |
| China Investments Holdings Ltd ($132) | 4.8% | 81.9% | 382.2% | 222.5% | |
| Goldin Properties Holdings Ltd ($283) | 2,178.4% | 1,190.0% | 50.1% | 202.4% | 128.8% |
| Carnival Group International Holdings Ltd ($996) | | 137.9% | 61.0% | 133.3% | |
| |
|---|
| Median (45 companies) | 2.7% | 3.8% | 6.1% | 9.2% | 9.0% |
|---|
| Orient Victory China Holdings Ltd ($265) | 1.5% | 1.4% | 1.3% | 0.3% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Fulum Group Holdings Ltd ($1443) | | 116.3% | 55.5% | 29.8% | 12.9% |
| C C Land Holdings Ltd ($1224) | 7.4% | 5.3% | 7.9% | 15.0% | |
| Chinney Alliance Group Ltd ($385) | 6.4% | 8.1% | 13.6% | 15.0% | |
| Niraku GC Holdings Inc ($1245) | | 19.0% | 18.8% | 13.1% | 2.7% |
| Top Spring International Holdings Ltd ($3688) | 15.6% | 6.9% | 7.3% | 8.0% | |
| |
|---|
| Median (45 companies) | -0.2% | 0.2% | 1.2% | 0.3% | 2.1% |
|---|
| Orient Victory China Holdings Ltd ($265) | 8.0% | 5.7% | -2.0% | -4.3% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Chinney Investments Ltd ($216) | 10.3x | 63.7x | 48.6x | 93.7x | 13.5x |
| Carnival Group International Holdings Ltd ($996) | | | 23.7x | 92.3x | |
| Multifield International Holdings Ltd ($898) | 3.2x | 7.3x | 3.0x | 55.9x | |
| Kong Sun Holdings Ltd ($295) | | | -23.0x | 34.0x | |
| CIAM Group Ltd ($378) | | | | 32.6x | |
| |
|---|
| Median (27 companies) | 2.4x | 2.6x | 2.8x | 2.8x | 2.8x |
|---|
