21 Holdings Ltd revenue started to decline in FY2016: dropped 94.0% vs. 31.0% growth a year earliner
27/03/2017 • About 21 Holdings Ltd (
$1003) • By InTwits
21 Holdings Ltd reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- 21 Holdings Ltd is a company in decline: FY2016 revenue growth was -94.0%, 5 years revenue CAGR was -42.9%
- EBITDA Margin is relatively stable: in FY2016 vs. -31.1% in FY2015 vs. -13.6% in FY2012
- 21 Holdings Ltd spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -18.7%0
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
21 Holdings Ltd ($1003) key annual financial indicators
| mln. | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 112.7 | 98.8 | 203.8 | 266.9 | 16.1 | -94.0% |
| Gross Profit | 32.4 | 26.2 | 30.1 | 47.6 | | -100.0% |
| SG&A | 40.3 | 49.3 | 38.9 | 48.3 | | -100.0% |
| EBITDA | -15.3 | -24.0 | -8.3 | -83.1 | | |
| Net Income | -56.5 | 35.6 | -13.1 | -92.8 | -1,253.7 | |
Balance Sheet
|
|---|
| Cash | 108.1 | 120.2 | 231.9 | 726.6 | | -100.0% |
| Short Term Debt | 0.1 | 0.0 | 6.0 | 0.0 | | |
| Long Term Debt | 0.0 | 0.0 | 0.0 | 0.0 | | |
Cash flow
|
|---|
| Capex | 0.4 | 0.0 | 0.0 | 1.7 | | -100.0% |
Ratios
|
|---|
| Revenue growth | -57.4% | -12.4% | 106.4% | 31.0% | -94.0% | |
| EBITDA growth | -29.8% | 56.6% | -65.6% | 906.6% | | |
| Gross Margin | 28.8% | 26.6% | 14.8% | 17.8% | | -17.8% |
| EBITDA Margin | -13.6% | -24.3% | -4.1% | -31.1% | 0.0% | 31.1% |
| Net Income Margin | -50.1% | 36.1% | -6.4% | -34.8% | -7,781.4% | -7,746.6% |
| SG&A, % of revenue | 35.8% | 49.9% | 19.1% | 18.1% | | -18.1% |
| CAPEX, % of revenue | 0.4% | 0.0% | 0.0% | 0.6% | | -0.6% |
| ROIC | -16.6% | -18.0% | -3.2% | -12.4% | | 12.4% |
| ROE | -30.1% | 19.4% | -4.8% | -14.0% | | 14.0% |
Revenue and profitability
The company's Revenue dropped on 94.0%.
Net Income marign dropped on 7,747 pp from -34.8% to -7,781% in FY2016.
Appendix 1: Peers in Holding Companies-Divers
Below you can find 21 Holdings Ltd benchmarking vs. other companies in Holding Companies-Divers 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 |
|---|
| 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) | 16.4% | 5.1% | 12.6% | 6.1% | 2.5% |
|---|
| 21 Holdings Ltd ($1003) | | -12.4% | 106.4% | 31.0% | -94.0% |
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) | 33.4% | 36.0% | 34.4% | 37.5% | 35.3% |
|---|
| 21 Holdings Ltd ($1003) | 28.8% | 26.6% | 14.8% | 17.8% | |
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) | 3.3% | 3.8% | 9.3% | 6.8% | 9.1% |
|---|
| 21 Holdings Ltd ($1003) | -13.6% | -24.3% | -4.1% | -31.1% | |
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% |
|---|
| 21 Holdings Ltd ($1003) | 0.4% | 0.0% | 0.0% | 0.6% | |
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) | 0.1% | 0.6% | 1.2% | 0.3% | 2.1% |
|---|
| 21 Holdings Ltd ($1003) | -16.6% | -18.0% | -3.2% | -12.4% | |
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 | 2.7x | 2.8x | 2.8x | 2.8x |
|---|
