Mazda revenue jumped on 16.2% in 2015 and EBITDA Margin showed almost no change
30-05-2015 • About Mazda (
$MAZDALTD) • By InTwits
Mazda reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: EBITDA Margin is relatively stable: 14.9% in FY2015 vs. 15.0% in FY2014 vs. 14.4% in FY2011.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Mazda ($MAZDALTD) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 844 | 1,031 | 1,182 | 998 | 1,159 | 16.2% |
| EBITDA | 121 | 150 | 191 | 150 | 172 | 14.9% |
| Net Income | 189 | 100 | 124 | 103 | 112 | 9.5% |
Balance Sheet
|
|---|
| Cash | 28 | 5 | 59 | | | |
| Short Term Debt | 1 | 10 | 24 | | | |
| Long Term Debt | 2 | 2 | 0 | | | |
Cash flow
|
|---|
| Capex | 44 | 86 | | | | |
Ratios
|
|---|
| Revenue growth | -36.1% | 22.1% | 14.7% | -15.6% | 16.2% | |
| EBITDA growth | -27.5% | 23.5% | 27.6% | -21.5% | 14.9% | |
| EBITDA Margin | 14.4% | 14.5% | 16.2% | 15.0% | 14.9% | -0.2% |
| Net Income Margin | 22.4% | 9.7% | 10.5% | 10.3% | 9.7% | -0.6% |
| CAPEX, % of revenue | 5.2% | 8.4% | | | | 0.0% |
| ROIC | 19.0% | 21.8% | 23.8% | | | 0.0% |
| ROE | 37.7% | 16.1% | 17.5% | | | 0.0% |
| Net Debt/EBITDA | -0.2x | 0.0x | -0.2x | 0.0x | 0.0x | 0.0x |
Revenue and profitability
Mazda's Revenue jumped on 16.2% in FY2015. EBITDA Margin showed almost no change in FY2015.
Net Income marign decreased slightly on 0.59 pp from 10.3% to 9.7% in FY2015.
Appendix 1: Peers in Industrial Machinery
Below we provide Mazda benchmarking against other companies in Industrial Machinery 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 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Lloyd Electric & Engineering ($LLOYDELENG) | | 32.2% | 9.9% | 20.5% | 22.3% |
| Kabra Extrusiontechnik ($KABRAEXTRU) | | -13.3% | -8.7% | 28.4% | 21.6% |
| Akar Tools ($AKARTOOL) | | 21.1% | 2.1% | -2.3% | 16.7% |
| Honda Siel Power Products ($HONDAPOWER) | | 28.1% | 2.4% | 5.0% | 16.5% |
| Abc Bearings ($ABCBEARS) | | -13.0% | -15.5% | -6.6% | 15.7% |
| |
|---|
| Median (22 companies) | 6.0% | 14.1% | 2.1% | 4.0% | 3.5% |
|---|
| Mazda ($MAZDALTD) | | 22.1% | 14.7% | -15.6% | 16.2% |
Top companies by Gross margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Bell Agromachina ($BELAGRO) | | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (1 company) | | 0.0% | 0.0% | 0.0% | 0.0% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Texmaco Infrastructure & Holdings ($TEXINFRA) | | | | | 40.5% |
| Dhp India ($DHPIND) | | | | | 26.3% |
| Solitaire Machine Tools ($SOLIMAC) | | | | | 19.4% |
| Wendt (India) ($WENDT) | 30.8% | 28.3% | 21.6% | 18.6% | 19.0% |
| Goldstone Infratech ($GOLDINFRA) | | | | | 18.1% |
| |
|---|
| Median (36 companies) | 13.5% | 10.7% | 9.4% | 10.0% | 10.3% |
|---|
| Mazda ($MAZDALTD) | 14.4% | 14.5% | 16.2% | 15.0% | 14.9% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Texmaco Infrastructure & Holdings ($TEXINFRA) | | | | | 14.0% |
| Wendt (India) ($WENDT) | 7.2% | 13.5% | 9.0% | 8.8% | 9.4% |
| Ingersoll-Rand (India) ($INGERRAND) | 1.3% | 4.3% | 10.9% | 3.6% | 9.2% |
| Kabra Extrusiontechnik ($KABRAEXTRU) | 5.4% | 6.5% | 1.8% | 0.5% | 8.8% |
| Forbes & Company ($FORBESCO) | 2.8% | 1.8% | 2.6% | 3.0% | 5.1% |
| |
|---|
| Median (20 companies) | 3.4% | 5.5% | 3.8% | 2.9% | 3.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Greaves Cotton ($GREAVESCOT) | | | 24.8% | 16.3% | 26.7% |
| Gmm Pfaudler ($GMM) | 14.2% | -76.2% | 6.8% | 17.4% | 18.2% |
| Lakshmi Machine Works ($LAXMIMACH) | 16.8% | 18.0% | 11.7% | 16.2% | 17.6% |
| Honda Siel Power Products ($HONDAPOWER) | 17.3% | 16.9% | 8.8% | 11.5% | 15.3% |
| Wendt (India) ($WENDT) | | 38.2% | 20.2% | 16.2% | 15.1% |
| |
|---|
| Median (41 companies) | 14.6% | 12.6% | 10.2% | 9.2% | 12.5% |
|---|
| Mazda ($MAZDALTD) | 19.0% | 21.8% | 23.8% | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Forbes & Company ($FORBESCO) | 3.5x | 2.2x | 3.3x | 4.7x | 6.3x |
| Nitin Fire Protection Industries ($NITINFIRE) | 2.0x | 3.6x | 3.5x | 3.0x | 3.7x |
| Elgi Equipments ($ELGIEQUIP) | -0.7x | -1.2x | 2.3x | 2.7x | 3.3x |
| Lloyd Electric & Engineering ($LLOYDELENG) | 4.0x | 3.2x | 3.0x | 3.7x | 3.2x |
| Elecon Engineering Co ($ELECON) | 3.1x | 3.0x | 3.2x | 4.0x | 3.1x |
| |
|---|
| Median (31 companies) | 1.3x | 1.1x | 1.7x | 0.0x | 0.0x |
|---|
| Mazda ($MAZDALTD) | -0.2x | 0.0x | -0.2x | 0.0x | 0.0x |
