Turbo Power Systems Inc reports 4.0% revenue growth in FY2016

15 Mar 2017 • About Turbo Power Systems Inc ($TPS) • By InTwits

Turbo Power Systems Inc reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:

EBITDA Margin is relatively stable: in FY2016 vs. 1.4% in FY2015 vs. -41.3% in FY2012
Turbo Power Systems Inc spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -12.6%0
It operates with high leverage: Net Debt/EBITDA is -2.1x while industry average is -35.7x

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

Turbo Power Systems Inc ($TPS) key annual financial indicators

mln. £	2012	2013	2014	2015	2016	2016/2015
P&L
Revenue	15.664	18.956	15.174	13.387	13.924	4.0%
Gross Profit	3.940	5.680	3.972	5.141		-100.0%
SG&A	6.847	5.732	4.082	3.785		-100.0%
EBITDA	-6.467	-2.059	-1.383	0.192		-100.0%
Net Income	-7.164	-2.851	-2.313	-0.848	-0.765	-9.8%
Balance Sheet
Cash	0.857	1.849	1.825	0.496		-100.0%
Short Term Debt	0.000	0.000	0.000	0.000
Long Term Debt	0.000	0.000	0.000	0.000
Cash flow
Capex	0.272	0.191	0.072	0.084		-100.0%
Ratios
Revenue growth	8.8%	21.0%	-20.0%	-11.8%	4.0%
EBITDA growth	23.3%	-68.2%	-32.8%	-113.9%
Gross Margin	25.2%	30.0%	26.2%	38.4%		-38.4%
EBITDA Margin	-41.3%	-10.9%	-9.1%	1.4%	0.0%	-1.4%
Net Income Margin	-45.7%	-15.0%	-15.2%	-6.3%	-5.5%	0.8%
SG&A, % of revenue	43.7%	30.2%	26.9%	28.3%		-28.3%
CAPEX, % of revenue	1.7%	1.0%	0.5%	0.6%		-0.6%
Net Debt/EBITDA				-2.6x		2.6x

Revenue and profitability

Turbo Power Systems Inc's Revenue increased on 4.0% in FY2016.

Net Income marign increased slightly on 0.84 pp from -6.3% to -5.5% in FY2016.

Appendix 1: Peers in Industrial Engineering

Below you can find Turbo Power Systems Inc benchmarking vs. other companies in Industrial Engineering 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
Slingsby(H.C.) ($SLNG)	-4.2%	-4.3%	-9.9%	35.5%
Mincon Group ($MCON)	53.5%	-17.1%	4.2%	28.8%
Ab Dynamics ($ABDP)		36.8%	13.8%	19.3%	23.9%
Flowtech Fluidpower ($FLO)	-5.8%	-5.1%	17.7%	18.7%
Somero Enterprise Inc ($SOMA)		40.1%	31.5%	18.5%	13.0%
Median (23 companies)	11.7%	2.9%	2.8%	5.0%	-2.2%
Turbo Power Systems Inc ($TPS)		21.0%	-20.0%	-11.8%	4.0%

Top companies by Gross margin, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Somero Enterprise Inc ($SOMA)	48.7%	52.2%	54.0%	55.8%	56.8%
Hydro International ($HYD)	37.3%	39.4%	45.3%	46.4%
Rotork ($76ID)	46.8%	47.4%	48.0%	45.7%	44.3%
Northbridge Industrial Services ($NBI)	57.0%	54.0%	48.4%	43.4%
Amiad Water Systems Ltd ($AFS)	42.8%	40.8%	38.9%	40.5%
Median (21 companies)	31.3%	29.9%	33.2%	32.9%	30.1%
Turbo Power Systems Inc ($TPS)	25.2%	30.0%	26.2%	38.4%

Top companies by EBITDA margin, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Northbridge Industrial Services ($NBI)	30.3%	29.2%	32.4%	32.5%
Somero Enterprise Inc ($SOMA)	12.6%	23.9%	27.4%	28.2%	30.1%
Rotork ($76ID)	27.0%	27.6%	28.0%	25.0%	22.8%
Ab Dynamics ($ABDP)	21.3%	18.9%	20.1%	24.0%	22.7%
Mincon Group ($MCON)	22.9%	30.0%	22.7%	17.6%
Median (23 companies)	9.0%	8.2%	7.5%	8.2%	9.1%
Turbo Power Systems Inc ($TPS)	-41.3%	-10.9%	-9.1%	1.4%

Top companies by CAPEX/Revenue, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Pressure Technologies ($PRES)	2.4%	2.3%	3.3%	11.6%	2.5%
Somero Enterprise Inc ($SOMA)	1.7%	1.8%	2.1%	5.9%	5.6%
Mitsubishi Electric Corp ($MEL)	4.4%	4.2%	3.7%	4.6%	4.1%
Ab Dynamics ($ABDP)	2.2%	5.6%	2.5%	4.2%	7.9%
Braime(T.F.& J.H.)(Hldgs) ($BMTO)	2.3%	9.6%	5.6%	3.8%
Median (23 companies)	2.4%	2.3%	2.4%	2.2%	4.2%
Turbo Power Systems Inc ($TPS)	1.7%	1.0%	0.5%	0.6%

Top companies by ROIC, %


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Somero Enterprise Inc ($SOMA)	6.0%	34.1%	51.7%	54.3%	51.7%
Energy Technique ($ETQ)	18.9%	19.3%	47.5%	41.6%
Renold ($RNO)	18.8%	-12.7%	-2.5%	41.3%	39.1%
Ab Dynamics ($ABDP)	44.4%	34.3%	28.4%	31.4%	28.0%
Rotork ($76ID)	50.0%	45.4%	38.1%	21.9%	17.0%
Median (23 companies)	13.9%	12.1%	11.0%	9.0%	4.3%
Turbo Power Systems Inc ($TPS)

Top companies by Net Debt / EBITDA


Top 5	FY2012	FY2013	FY2014	FY2015	FY2016
Tricorn Group ($TCN)	-0.3x	0.9x	5.8x	4.0x	7.2x
Slingsby(H.C.) ($SLNG)	-3.3x	-4.6x	-3.7x	3.7x
Avingtrans ($AVG)	3.1x	0.7x	1.2x	3.6x	-22.4x
600 Group ($SIXH)		3.2x	2.2x	3.1x
Chamberlin ($CMH)	0.5x	0.4x		2.2x	2.2x
Median (23 companies)	0.5x	0.4x	0.3x	1.1x	-0.4x
Turbo Power Systems Inc ($TPS)				-2.6x

Turbo Power Systems Inc stock price chart

Turbo Power Systems Inc financials

mln.	FY2010	FY2011	FY2012

Revenue	8.530	14.403	15.664
EBITDA	-3.889	-5.243	-6.467
Net income	-7.110	-6.173	-7.164
CAPEX	0.094	0.292	0.272
Debt	1.916	8.166	0.000
Cash	0.799	0.653	0.857

About Turbo Power Systems Inc

Turbo Power Systems Inc., through its subsidiary, Turbo Power Systems Limited, engages in the design, manufacture, and marketing of electric motors and generators, drives, and power electronics in the United Kingdom, the United States, Canada, and internationally. It offers a range of power electronic products, including grid connect and islanded inverters for solar, tidal, wave, and wind power applications; variable frequency drives for industrial and aerospace applications; high voltage power supplies; auxiliary power converters and battery chargers for the rail industry; and power converters for distributed generation systems. The company also provides permanent magnet motors and generators, such as high-speed motors for air and gas compression; submersible motors for the oil and gas industry; integrated generators for distributed generation; and energy recovery and power delivery systems, as well as provides bespoke solutions. Turbo Power Systems Inc. sells its products to original equipment manufactures, system integrators, and end users in energy conversion, industrial, transportation, and defense sectors. The company was formerly known as Turbo Genset Company and changed its name to Turbo Power Systems Inc. in July 2006. The company was founded in 1986 and is headquartered in West Drayton, the United Kingdom. Turbo Power Systems Inc. is a subsidiary of TAO Sustainable Power Solutions (UK) Limited.

Turbo Power Systems Inc reports 4.0% revenue growth in FY2016

Revenue and profitability

Appendix 1: Peers in Industrial Engineering

Similar news

Turbo Power Systems Inc stock price chart

Turbo Power Systems Inc financials

About Turbo Power Systems Inc