Bank Audi S.A.L. revenue jumped on 27.2% in 2016
27 Jan 2017 • About Bank Audi S.A.L. (
$BQAD) • By InTwits
Bank Audi S.A.L. reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Bank Audi S.A.L. is a fast growth stock: FY2016 revenue growth was 27.2%, 5 year revenue CAGR was 15.5% at FY2016 ROIC 14.5%
- The company has highly profitable business model: ROIC is at 14.5%
- It operates with high leverage: Net Debt/EBITDA is 2.3x while industry average is
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Bank Audi S.A.L. ($BQAD) key annual financial indicators
| mln. LBP | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 3,054,835 | 3,412,489 | 4,229,557 | 4,528,185 | 5,761,114 | 27.2% |
| Net Income | 564,737 | 454,621 | 513,500 | 587,948 | 694,082 | 18.1% |
Balance Sheet
|
|---|
| Cash | 9,462,380 | 9,192,108 | 13,247,387 | 13,754,922 | 18,650,596 | 35.6% |
| Short Term Debt | 1,304,282 | 2,048,134 | 2,224,179 | 2,910,421 | 4,582,168 | 57.4% |
| Long Term Debt | 0 | 0 | 854,455 | 1,053,982 | 973,535 | -7.6% |
Cash flow
|
|---|
| Capex | 182,499 | 186,243 | 112,019 | 170,736 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 9.1% | 11.7% | 23.9% | 7.1% | 27.2% | |
| Net Income Margin | 18.5% | 13.3% | 12.1% | 13.0% | 12.0% | -0.9% |
| CAPEX, % of revenue | 6.0% | 5.5% | 2.6% | 3.8% | | -3.8% |
| ROIC | 13.2% | 9.2% | 8.9% | 8.3% | 14.5% | 6.2% |
| ROE | 14.5% | 11.6% | 12.5% | 12.9% | 15.8% | 2.9% |
Revenue and profitability
The company's Revenue surged on 27.2% in FY2016.
Net Income marign decreased slightly on 0.94 pp from 13.0% to 12.0% in FY2016.
Return on investment
The company operates at good ROIC (14.50%) and ROE (15.81%). ROIC increased on 6.2 pp from 8.3% to 14.5% in FY2016. ROE increased on 2.9 pp from 12.9% to 15.8% in FY2016.
Leverage (Debt)
Debt surged on 40.1% in FY2016 while cash jumped on 35.6% in FY2016.
Appendix 1: Peers in Banks
Below you can find Bank Audi S.A.L. benchmarking vs. other companies in Banks 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 |
|---|
| Kazkommertsbank JSC ($KKB) | | 6.0% | 16.3% | 41.4% | |
| Sberbank Of Russia ($SBER) | 37.2% | 25.1% | 23.4% | 27.4% | |
| Commercial Intl Bank(Egypt)S.A.E ($CBKD) | 37.6% | 23.7% | 18.9% | 26.8% | |
| Yapi Ve Kredi Bankasi As ($YKBD) | 14.9% | 4.8% | 19.7% | 25.3% | |
| Mcb Bank Ltd ($MCBS) | 3.0% | -1.7% | 19.4% | 22.4% | |
| |
|---|
| Median (43 companies) | 12.4% | 4.2% | 11.5% | 4.2% | 3.2% |
|---|
| Bank Audi S.A.L. ($BQAD) | | 11.7% | 23.9% | 7.1% | 27.2% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Banque Marocaine Du Comm Exterieur ($69IR) | 3.7% | 9.7% | 4.3% | 26.8% | |
| Lloyds Banking Group ($LLPC) | 8.0% | 8.9% | 13.1% | 13.6% | 14.5% |
| Banco Santander Sa ($BNC) | 2.7% | 2.6% | 8.9% | 10.2% | 9.1% |
| Guaranty Trust Bank ($GRTB) | 6.7% | 6.1% | 6.8% | 7.7% | |
| Diamond Bank ($DBPA) | 8.2% | 7.9% | 6.0% | 6.7% | |
| |
|---|
| Median (41 companies) | 2.2% | 2.7% | 2.1% | 2.5% | 2.3% |
|---|
| Bank Audi S.A.L. ($BQAD) | 6.0% | 5.5% | 2.6% | 3.8% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Commercial Intl Bank(Egypt)S.A.E ($CBKD) | 21.7% | 26.9% | 30.1% | 30.3% | |
| Guaranty Trust Bank ($GRTB) | 19.8% | 18.9% | 17.8% | 16.0% | |
| Mcb Bank Ltd ($MCBS) | 15.0% | 14.4% | 15.8% | 14.9% | |
| United Bank Ltd ($UBLS) | 11.7% | 11.8% | 13.8% | 12.6% | |
| Zenith Bank ($ZENB) | 19.0% | 17.6% | 15.0% | 11.2% | |
| |
|---|
| Median (43 companies) | 6.0% | 5.3% | 4.4% | 3.4% | 3.8% |
|---|
| Bank Audi S.A.L. ($BQAD) | 13.2% | 9.2% | 8.9% | 8.3% | 14.5% |
