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Zicom Electronic Security Systems EBITDA Margin dropped on 12.7 pp from 12.7% to in 2016

27-05-2016 • About Zicom Electronic Security Systems ($ZICOM) • By InTwits

Zicom Electronic Security Systems reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts: It operates with high leverage: Net Debt/EBITDA is 13.3x while industry average is 0.0x.

Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.

Revenue and profitability


The company's Revenue increased slightly on 0.88%. During FY2012-FY2016 Revenue growth topped in FY2013 at 42.8% and was decelerating since that time.

Net Income margin decreased on 5.5 pp from 4.6% to -0.95% in FY2016. During FY2012-FY2016 Net Income margin topped in FY2015 at 4.6%.

Financial and operational results


Zicom Electronic Security Systems ($ZICOM) key annual financial indicators

mln. INR201220132014201520162016/2015
P&L
Revenue4,8416,9139,26111,08111,1790.9%
EBITDA5088261,0891,403
Net Income168303419506-107-121.1%
Balance Sheet
Cash321689692
Short Term Debt1,5081,9302,9314,102
Long Term Debt951,2531,4371,455
Cash flow
Capex189926606489
Ratios
Revenue growth29.6%42.8%34.0%19.7%0.9%
EBITDA growth80.0%62.5%31.7%28.9%

EBITDA Margin10.5%12.0%11.8%12.7%
Net Income Margin3.5%4.4%4.5%4.6%-1.0%-5.5%
CAPEX, % of revenue3.9%13.4%6.5%4.4%

ROIC10.4%13.2%12.4%12.7%
ROE9.5%14.1%16.4%15.9%
Net Debt/EBITDA3.1x3.6x3.9x3.9x

Peers in Electronic Components


Below we provide Zicom Electronic Security Systems benchmarking against other companies in Electronic Components 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 Gross margin, %

Top  FY2012 FY2013 FY2014 FY2015 FY2016
Nubal (India) ($NUBALIN)0.0%0.0%0.0%0.0%0.0%
 
Median (1 company)0.0%0.0%0.0%0.0%0.0%


Top companies by EBITDA margin, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Ruttonsha International Rectifier ($RIR)---8.7%-
Precision Electronics ($PRECISIO)---8.7%-
Eco Recycling ($ECORECO)---6.4%-
Hind Rectifiers ($HIRECT)----2.6%-
Kilburn Office Automation ($KILBURN)----14.8%-
 
Median (5 companies)---6.4%-
Zicom Electronic Security Systems ($ZICOM)10.5%12.0%11.8%12.7%-


Top companies by ROIC, %

Top 5 FY2012 FY2013 FY2014 FY2015 FY2016
Precision Electronics ($PRECISIO)6.3%5.7%-8.8%2.5%-
Nubal (India) ($NUBALIN)0.0%0.0%0.0%0.0%0.0%
Kilburn Office Automation ($KILBURN)-8.7%----
Bcc Fuba India ($BCCFUBA)--14.0%---
Switching Technologies Gunther ($SWITCHTE)-----
 
Median (9 companies)4.4%4.3%-2.2%1.3%0.0%
Zicom Electronic Security Systems ($ZICOM)10.4%13.2%12.4%12.7%-


Top companies by Net Debt / EBITDA

Top  FY2012 FY2013 FY2014 FY2015 FY2016
Precision Electronics ($PRECISIO)0.8x2.1x-2.4x-
Ruttonsha International Rectifier ($RIR)1.5x1.7x-0.0x-
Eco Recycling ($ECORECO)11.2x9.1x-0.0x-
 
Median (3 companies)0.9x1.6x0.0x0.0x-
Zicom Electronic Security Systems ($ZICOM)3.1x3.6x3.9x3.9x-