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Media Matrix Worldwide Net Income dropped on 95.2% and Revenue dropped on 31.1%

05-09-2020 • About Media Matrix Worldwide ($MMWL) • By InTwits

Media Matrix Worldwide reported FY2020 financial results today. Here are the key drivers of the company's long term financial model:
  • EBITDA Margin is quite volatile: 1.6% in FY2020, 0.6% in FY2019, 0.3% in FY2018, 11.1% in FY2017, -4.3% in FY2016
  • The company has highly profitable business model: ROIC is 24.2%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.

Revenue and profitability

Media Matrix Worldwide's Revenue dropped on 31.1%. Revenue decline showed acceleration in FY20Q4 - it was 42.5% YoY. During FY2016-FY2020 Revenue growth topped in FY2018 at 146% and was decelerating since that time. Despite revenue decline the EBITDA margin expanded. EBITDA Margin increased slightly on 1.0 pp from 0.58% to 1.6% in FY2020.

Net Income margin decreased on 6.6 pp from 7.1% to 0.49% in FY2020.

Investments (CAPEX, working capital and M&A)

Media Matrix Worldwide's CAPEX/Revenue was 0.0067% in FY2020. Media Matrix Worldwide's CAPEX/Revenue decreased on 3.1 pp from 3.1% in FY2017 to 0.0067% in FY2020.

Return on investment

The company operates at good ROIC (24.2%) while ROE is low (9.3%). ROIC surged on 18.1 pp from 6.1% to 24.2% in FY2020. ROE dropped on 201 pp from 210% to 9.3% in FY2020.

Leverage (Debt)

Debt level is -0.2x Net Debt / EBITDA and 0.1x Debt / EBITDA. Debt dropped on 88.1% while cash jumped on 72.6%.

Media Matrix Worldwide has no short term refinancing risk: cash is higher than short term debt (203.9%).

Financial and operational results

FY ended 31-03-2020

Media Matrix Worldwide ($MMWL) key annual financial indicators

mln. INR201620172018201920202020/2019
Net Income-253101-3491,00748-95.2%
Balance Sheet
Short Term Debt36245814219824-88.1%
Long Term Debt23513986100
Cash flow
Revenue growth-14.9%91.9%145.5%120.0%-31.1%
EBITDA growth-43.3%-593.4%-94.0%368.3%92.7%

EBITDA Margin-4.3%11.1%0.3%0.6%1.6%1.0%
SG&A, % of revenue3.9%0.6%
Net Income Margin-18.4%3.8%-5.4%7.1%0.5%-6.6%
CAPEX, % of revenue3.2%3.1%0.4%0.0%

Net Debt/EBITDA1.9x55.6x2.1x-0.2x-2.2x

Media Matrix Worldwide ($MMWL) key quoterly financial indicators

mln. INRFY20Q1FY20Q2FY20Q3FY20Q4 YoY change
Revenue2,2079623,0683,573 -1.9%-78.3%128.4%-42.5%
EBITDA0-82379 --141.6%-112.9%
Net Income-11-73469 --100.8%476.4%66.0%
Balance Sheet
EBITDA Margin 0.0% -0.8% 0.7% 2.2% 1.2%-1.2%1.2%1.6%
Net Income Margin -0.5% -0.8% 1.1% 1.9% -0.0%-22.8%0.7%1.3%

Peers in Movies & Entertainment

Below you can find Media Matrix Worldwide benchmarking vs. other companies in Movies & Entertainment 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.