The numbers tell that Broad Greenstate International Co Ltd's growth is outstanding
28/03/2017 • About Broad Greenstate International Co Ltd (
$1253) • By InTwits
Broad Greenstate International Co Ltd is a fast-growing stock in Engineering&Construction industry. Its revenue performance, profitability and healthy financial model stands it out vs. other public companies on the market.
Growth story
Broad Greenstate International Co Ltd showed fast growth in the last financial year. Broad Greenstate International Co Ltd's revenue surged on 16.4% in FY2016. In addition to revenue Broad Greenstate International Co Ltd also keeps delivering EBITDA growth. It was 16.0% in FY2016
If we look for the longer period Broad Greenstate International Co Ltd showed fast revenue growth of 35.7% from FY2013 to FY2016 annualy. EBITDA surged on 46.8% from FY2013 to FY2016 annualy.
Broad Greenstate International Co Ltd ($1253) financials for the last 5 years
| mln. | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Revenue | 222 | 290 | 530 | 623 | 725 |
|---|
| Revenue growth, % | | 30.8% | 82.9% | 17.5% | 16.4% |
|---|
| Gross margin, % | 20.1% | 28.7% | 35.8% | 36.7% | 37.4% |
|---|
| SG&A, % | | | | 6.78% | 7.73% |
|---|
| EBITDA | 34 | 71 | 153 | 193 | 224 |
|---|
| EBITDA growth, % | | 108.4% | 115.8% | 26.5% | 16.0% |
|---|
| EBITDA margin, % | 15.3% | 24.4% | 28.8% | 31.0% | 30.9% |
|---|
| Net Income | 25 | 54 | 105 | 151 | 152 |
|---|
| Net Income margin, % | 11.1% | 18.5% | 19.7% | 24.2% | 20.9% |
|---|
| |
| CAPEX | 1 | 6 | 5 | 12 | 0 |
|---|
| CAPEX/Revenue, % | 0.585% | 1.93% | 0.939% | 1.92% | 0% |
|---|
| Debt | 12 | 12 | 160 | 278 | 405 |
|---|
| Cash | 52 | 11 | 144 | 257 | 128 |
|---|
| Net Debt/EBITDA | -1.2x | 0.0x | 0.1x | 0.1x | 1.2x |
|---|
| |
| ROIC, % | 33.2% | 85.1% | 51.2% | 26.0% | 20.9% |
|---|
| ROE, % | 28.4% | 100.2% | 61.6% | 34.0% | 25.2% |
|---|
Profitability and return on investment
Despite revenue growth EBITDA margin declined slightly from 31% in FY2015 to 30.9% in FY2016. In the last 3 years the company's EBITDA margin surged on 6.50 pp from 24.4% in FY2013 to 30.9% in FY2016.
Broad Greenstate International Co Ltd shows attractive ROIC at 20.9% for the last 12 months which assumes stable development model. Three years ago it was considerably higher at 85.1%. For the last three years the average ROIC was 32.7%.
Net Income margin dropped on 3.30 pp from 24.2% to 20.9% in FY2016. In the longer period Broad Greenstate International Co Ltd's Net Income margin surged on 2.40 pp from 18.5% in FY2013 to 20.9% in FY2016.
Broad Greenstate International Co Ltd operates at ROE of 25.2%. For the last three years the average ROE was 40.3%.
Capital expenditures (CAPEX)
The company's CAPEX/Revenue was 0% in FY2016. CAPEX/Revenue dropped on 1.93 pp from 1.93% in FY2013 to 0% in FY2016.
Leverage (Debt)
The company has medium debt level at 1.2x Net Debt/EBITDA to maintain high growth. In the longer period leverage surged on 1.22x from 0.02x in FY2013 to 1.24x in FY2016.
Peers in Engineering&Construction
Below you can find Broad Greenstate International Co Ltd benchmarking vs. other companies in Engineering&Construction 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, %
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Top 5 |
|---|
| CNQC International Holdings Ltd ($1240) | 21.6% | 91.0% | 103.7% | 807.4% | |
| China National Culture Group Ltd ($745) | | -76.8% | -55.8% | 592.3% | 86.7% |
| Vision Fame International Holding Ltd ($1315) | | 45.9% | -10.5% | 105.6% | 40.9% |
| Sino Credit Holdings Ltd ($628) | | | | 97.4% | -40.3% |
| Grand Ming Group Holdings Ltd ($1271) | | -26.9% | -37.4% | 74.8% | 14.3% |
| |
|---|
| Median (48 companies) | 5.3% | 21.8% | 16.8% | 9.9% | 6.1% |
|---|
| Broad Greenstate International Co Ltd ($1253) | | 30.8% | 82.9% | 17.5% | 16.4% |
Top companies by Gross margin, %
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Top 5 |
|---|
| HNA Infrastructure Company Ltd ($357) | 66.4% | 62.1% | 62.4% | 61.1% | |
| Huayu Expressway Group Ltd ($1823) | 43.6% | 65.6% | 64.0% | 58.9% | |
| Sam Woo Construction Group Ltd ($3822) | 33.2% | 27.3% | 33.6% | 36.0% | 19.8% |
| China National Culture Group Ltd ($745) | 0.9% | 12.1% | 10.3% | 32.3% | 19.2% |
| Kingbo Strike Ltd ($1421) | 32.4% | 44.4% | 40.3% | 30.7% | 14.1% |
| |
|---|
| Median (43 companies) | 13.3% | 15.1% | 14.5% | 14.5% | 11.8% |
|---|
| Broad Greenstate International Co Ltd ($1253) | 20.1% | 28.7% | 35.8% | 36.7% | 37.4% |
Top companies by EBITDA margin, %
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Top 5 |
|---|
| Huayu Expressway Group Ltd ($1823) | 46.2% | 73.8% | 77.1% | 76.2% | |
| HNA Infrastructure Company Ltd ($357) | 62.8% | 63.7% | 62.8% | 61.7% | |
| Cheung Kong Infrastructure Holdings Ltd ($1038) | 31.2% | 20.6% | 36.2% | 60.9% | 38.4% |
| Beijing Capital International Airport Co Ltd ($694) | 53.4% | 52.9% | 50.3% | 51.6% | 50.9% |
| China National Culture Group Ltd ($745) | -30.4% | -72.7% | -279.2% | 45.3% | -14.6% |
| |
|---|
| Median (48 companies) | 9.5% | 9.5% | 8.6% | 7.8% | 5.1% |
|---|
| Broad Greenstate International Co Ltd ($1253) | 15.3% | 24.4% | 28.8% | 31.0% | 30.9% |
Top companies by CAPEX/Revenue, %
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Top 5 |
|---|
| HNA Infrastructure Company Ltd ($357) | 36.8% | 5.7% | 85.4% | 155.4% | |
| Grand Ming Group Holdings Ltd ($1271) | 0.0% | 16.1% | 8.7% | 33.8% | 14.0% |
| Beijing Capital International Airport Co Ltd ($694) | 3.5% | 6.6% | 7.2% | 28.2% | |
| NEW Concepts Holdings Ltd ($2221) | 1.7% | 1.2% | 3.1% | 20.5% | 0.3% |
| Louis XIII Holdings Ltd ($577) | 1.2% | 29.5% | 9.3% | 16.1% | 47.3% |
| |
|---|
| Median (48 companies) | 2.3% | 2.5% | 1.8% | 2.1% | 2.4% |
|---|
| Broad Greenstate International Co Ltd ($1253) | 0.6% | 1.9% | 0.9% | 1.9% | |
Top companies by ROIC, %
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Top 5 |
|---|
| In Construction Holdings Ltd ($1500) | | 52.8% | 37.0% | 49.4% | 40.4% |
| Chun Sing Engineering Holdings Ltd ($2277) | | 98.3% | 54.9% | 43.7% | 21.6% |
| NEW Concepts Holdings Ltd ($2221) | | 51.0% | 78.8% | 39.0% | 23.3% |
| Sam Woo Construction Group Ltd ($3822) | | 28.2% | 28.7% | 33.5% | 18.3% |
| Ngai Shun Holdings Ltd ($1246) | 68.8% | 77.2% | 45.2% | 31.0% | -2.9% |
| |
|---|
| Median (50 companies) | 6.4% | 6.1% | 5.5% | 5.6% | 2.0% |
|---|
| Broad Greenstate International Co Ltd ($1253) | 33.2% | 85.1% | 51.2% | 26.0% | 20.9% |
Top companies by Net Debt / EBITDA
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Top 5 |
|---|
| Deson Development International Holdings ($262) | 3.8x | 4.9x | 13.7x | 47.0x | |
| Hsin Chong Construction Group Ltd ($404) | 1.8x | 8.0x | 10.2x | 41.7x | |
| China Resources and Transportation Group Ltd ($269) | | | 66.7x | 29.7x | |
| CNC Holdings Ltd ($8356) | | 22.0x | 21.9x | 24.3x | 2.7x |
| Louis XIII Holdings Ltd ($577) | 0.8x | -12.5x | -23.2x | 19.1x | |
| |
|---|
| Median (42 companies) | 1.0x | 0.9x | 1.5x | 2.2x | 0.6x |
|---|
| Broad Greenstate International Co Ltd ($1253) | -1.2x | 0.0x | 0.1x | 0.1x | 1.2x |
