Clearstar Inc reports 16.9% revenue growth in FY2016
28 Mar 2017 • About Clearstar Inc (
$9537) • By InTwits
Clearstar Inc reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Clearstar Inc motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 was 0.0%. On average EBITDA Margin was -0.8% for the sames years0
- It operates with high leverage: Net Debt/EBITDA is 1.3x while industry average is -0.1x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Clearstar Inc ($9537) key annual financial indicators
| mln. £ | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 4.319 | 7.972 | 10.921 | 10.155 | 11.875 | 16.9% |
| Gross Profit | 2.852 | 4.898 | 6.331 | 6.213 | | -100.0% |
| SG&A | | 3.817 | 7.435 | 6.310 | | -100.0% |
| EBITDA | 0.544 | 1.000 | -1.267 | -0.626 | | -100.0% |
| Net Income | 0.429 | 0.710 | -1.751 | -1.517 | -1.609 | 6.0% |
Balance Sheet
|
|---|
| Cash | 0.063 | 0.285 | 6.477 | 2.642 | | -100.0% |
| Short Term Debt | 0.150 | 0.036 | 0.082 | 0.062 | | -100.0% |
| Long Term Debt | 0.000 | 0.147 | 0.271 | 0.116 | | -100.0% |
Cash flow
|
|---|
| Capex | 0.031 | 0.050 | 0.489 | 0.063 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 33.7% | 84.6% | 37.0% | -7.0% | 16.9% | |
| EBITDA growth | -846.3% | 84.0% | -226.7% | -50.6% | | |
| Gross Margin | 66.0% | 61.4% | 58.0% | 61.2% | | -61.2% |
| EBITDA Margin | 12.6% | 12.5% | -11.6% | -6.2% | 0.0% | 6.2% |
| Net Income Margin | 9.9% | 8.9% | -16.0% | -14.9% | -13.5% | 1.4% |
| SG&A, % of revenue | | 47.9% | 68.1% | 62.1% | | -62.1% |
| CAPEX, % of revenue | 0.7% | 0.6% | 4.5% | 0.6% | | -0.6% |
| ROIC | 134.9% | 70.5% | -25.9% | -14.9% | | 14.9% |
| ROE | | 87.7% | -27.0% | -15.8% | | 15.8% |
| Net Debt/EBITDA | 0.2x | -0.1x | | | | 0.0x |
Revenue and profitability
Clearstar Inc's Revenue surged on 16.9% in FY2016.
Net Income marign increased slightly on 1.4 pp from -14.9% to -13.5% in FY2016.
Appendix 1: Peers in Software & Computer Services
Below we provide Clearstar Inc benchmarking against other companies in Software & Computer Services industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Coms ($COMS) | | 46.8% | 763.3% | 110.4% | 36.1% |
| Centralnic Group ($CNIC) | 15.9% | 4.0% | 98.9% | 71.3% | |
| Proactis Holdings ($PHD) | | 7.0% | 26.2% | 69.6% | 12.5% |
| Progility ($PGY) | | | | 51.0% | 3.2% |
| Galasys ($GLS) | 14.3% | 20.9% | 311.1% | 33.0% | |
| |
|---|
| Median (45 companies) | 12.5% | 5.7% | 4.4% | 4.1% | 10.5% |
|---|
| Clearstar Inc ($9537) | | 84.6% | 37.0% | -7.0% | 16.9% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Lombard Risk Management ($LRM) | 99.0% | 98.8% | 99.2% | 98.6% | 99.3% |
| Phoenix It Group ($PNX) | 97.0% | 97.2% | 97.6% | 97.9% | |
| Wandisco ($WAND) | 91.8% | 80.3% | 80.7% | 93.2% | 88.1% |
| Netcall ($NET) | 88.2% | 89.7% | 91.0% | 90.9% | 91.2% |
| Idox ($IDOX) | 90.4% | 90.8% | 89.4% | 89.3% | 86.8% |
| |
|---|
| Median (38 companies) | 61.4% | 62.1% | 58.3% | 58.8% | 59.3% |
|---|
| Clearstar Inc ($9537) | 66.0% | 61.4% | 58.0% | 61.2% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Mail.Ru Group Ltd ($61HE) | 43.1% | 47.4% | 50.5% | 34.6% | 35.2% |
| Dotdigital Group ($DOTD) | 31.4% | 39.4% | 29.2% | 32.0% | 30.4% |
| Idox ($IDOX) | 30.9% | 26.1% | 26.0% | 28.6% | 27.3% |
| Galasys ($GLS) | 44.0% | 83.6% | 32.6% | 28.5% | |
| Oxford Metrics ($OMG) | 15.7% | 6.0% | 14.7% | 28.4% | 23.1% |
| |
|---|
| Median (45 companies) | 14.3% | 13.4% | 13.0% | 12.5% | 11.0% |
|---|
| Clearstar Inc ($9537) | 12.6% | 12.5% | -11.6% | -6.2% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Rapidcloud Intl ($RCI) | 1.0% | 23.1% | 11.6% | 19.6% | |
| Coms ($COMS) | 0.5% | 0.9% | 3.4% | 7.5% | 0.1% |
| Csf Group ($CSFG) | 1.5% | 4.0% | 2.4% | 7.1% | 4.9% |
| Nasstar ($NASA) | 17.9% | | 2.1% | 5.2% | |
| Unisys Corp ($USY) | 2.1% | 2.5% | 4.1% | 5.0% | 3.0% |
| |
|---|
| Median (45 companies) | 1.5% | 1.6% | 1.9% | 1.3% | 1.3% |
|---|
| Clearstar Inc ($9537) | 0.7% | 0.6% | 4.5% | 0.6% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Rm ($RM.) | | 48.6% | 130.8% | 289.2% | 263.8% |
| Triad Group ($TRD) | 4.1% | -3.8% | 24.5% | 61.5% | 74.4% |
| Dotdigital Group ($DOTD) | 26.4% | 38.0% | 28.5% | 31.4% | 28.9% |
| International Bus Mach Corp ($IBM) | 36.1% | 31.0% | 28.1% | 25.7% | 18.7% |
| Galasys ($GLS) | 58.7% | 60.9% | 40.8% | 22.2% | |
| |
|---|
| Median (45 companies) | 12.5% | 11.6% | 9.8% | 7.7% | 9.7% |
|---|
| Clearstar Inc ($9537) | 134.9% | 70.5% | -25.9% | -14.9% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Progility ($PGY) | 2.0x | | 1.8x | 12.8x | 6.8x |
| Parity Group ($PTY) | 4.7x | | 4.9x | 5.1x | |
| Nasstar ($NASA) | -5.3x | | 0.0x | 1.9x | |
| Phoenix It Group ($PNX) | 4.3x | | | 1.9x | |
| International Bus Mach Corp ($IBM) | 0.9x | 1.2x | 1.4x | 1.7x | 2.2x |
| |
|---|
| Median (36 companies) | -0.5x | -0.5x | -0.3x | -0.6x | -0.8x |
|---|
