Yangming Marine Transport Corp revenue decreased on 9.5% in 2016
28 Mar 2017 • About Yangming Marine Transport Corp (
$YMTD) • By InTwits
Yangming Marine Transport Corp reported FY2016 financial results today. Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Yangming Marine Transport Corp ($YMTD) key annual financial indicators
| mln. TWD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 131,425 | 118,874 | 134,778 | 127,559 | 115,400 | -9.5% |
| Gross Profit | 1,783 | -4,130 | 5,744 | -791 | | -100.0% |
| SG&A | 5,392 | 5,603 | 5,904 | 6,022 | | -100.0% |
| EBITDA | 3,651 | -2,527 | 6,403 | -454 | | -100.0% |
| Net Income | -1,623 | -2,946 | 320 | -7,722 | -14,912 | 93.1% |
Balance Sheet
|
|---|
| Cash | 10,944 | 13,632 | 21,684 | 23,749 | | -100.0% |
| Short Term Debt | 12,018 | 12,386 | 14,470 | 20,666 | | -100.0% |
| Long Term Debt | 70,716 | 68,852 | 69,754 | 72,465 | | -100.0% |
Cash flow
|
|---|
| Capex | 17,271 | 9,717 | 9,378 | 9,844 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 10.9% | -9.5% | 13.4% | -5.4% | -9.5% | |
| EBITDA growth | -203.7% | -169.2% | -353.4% | -107.1% | | |
| Gross Margin | 1.4% | -3.5% | 4.3% | -0.6% | | 0.6% |
| EBITDA Margin | 2.8% | -2.1% | 4.8% | -0.4% | 0.0% | 0.4% |
| Net Income Margin | -1.2% | -2.5% | 0.2% | -6.1% | -12.9% | -6.9% |
| SG&A, % of revenue | 4.1% | 4.7% | 4.4% | 4.7% | | -4.7% |
| CAPEX, % of revenue | 13.1% | 8.2% | 7.0% | 7.7% | | -7.7% |
| ROIC | -3.1% | -8.2% | -0.1% | -5.5% | | 5.5% |
| ROE | -5.1% | -8.7% | 0.9% | -22.5% | | 22.5% |
| Net Debt/EBITDA | 19.7x | | 9.8x | | | 0.0x |
Revenue and profitability
Yangming Marine Transport Corp's Revenue decreased on 9.5% in FY2016.
Net Income marign decreased on 6.9 pp from -6.1% to -12.9% in FY2016.
Appendix 1: Peers in Industrial Transportation
Below you can find Yangming Marine Transport Corp benchmarking vs. other companies in Industrial Transportation 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 |
|---|
| Frontline Ltd ($FRO) | | -9.4% | -55.6% | 104.5% | 86.0% |
| Zhejiang Expressway Co ($ZHEH) | | 13.3% | 20.5% | 32.2% | -22.2% |
| Wisdom Marine Lines Co Limited ($WML) | | -0.8% | 8.8% | 21.6% | -3.0% |
| Dp World Ltd ($0P5M) | | -1.5% | 12.7% | 16.7% | 4.7% |
| Center Fr Cargo Cont Trf Trcnt PJSC ($TRCN) | 17.8% | 7.7% | -6.6% | 16.2% | |
| |
|---|
| Median (14 companies) | -0.3% | -1.4% | 3.4% | -5.8% | -3.0% |
|---|
| Yangming Marine Transport Corp ($YMTD) | | -9.5% | 13.4% | -5.4% | -9.5% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Novorossiysk Commercial Sea Port ($NCSP) | 57.9% | 54.3% | 61.0% | 72.9% | |
| Global Ports Investments ($GLPR) | 40.3% | 58.8% | 58.8% | 68.0% | |
| Dp World Ltd ($0P5M) | 35.8% | 39.8% | 41.9% | 48.4% | 50.9% |
| Zhejiang Expressway Co ($ZHEH) | 34.0% | 36.9% | 37.7% | 43.6% | 52.8% |
| Wisdom Marine Lines Co Limited ($WML) | 30.3% | 20.3% | 20.7% | 24.1% | |
| |
|---|
| Median (9 companies) | 31.4% | 25.8% | 23.2% | 24.1% | 50.9% |
|---|
| Yangming Marine Transport Corp ($YMTD) | 1.4% | -3.5% | 4.3% | -0.6% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Capital Lease Aviation ($CLA) | 101.2% | 88.5% | 89.2% | 80.5% | |
| Frontline Ltd ($FRO) | 17.2% | -4.6% | 64.5% | 74.6% | 42.5% |
| Global Ports Investments ($GLPR) | 57.1% | 60.3% | 69.6% | 71.2% | |
| Zhejiang Expressway Co ($ZHEH) | 49.6% | 51.1% | 53.5% | 58.0% | 69.6% |
| Wisdom Marine Lines Co Limited ($WML) | 56.9% | 52.0% | 52.8% | 55.2% | |
| |
|---|
| Median (14 companies) | 29.6% | 24.8% | 29.7% | 30.2% | 42.5% |
|---|
| Yangming Marine Transport Corp ($YMTD) | 2.8% | -2.1% | 4.8% | -0.4% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Frontline Ltd ($FRO) | 2.5% | 0.5% | 83.6% | 171.4% | 82.5% |
| Dp World Ltd ($0P5M) | 20.6% | 33.4% | 20.7% | 28.9% | 25.4% |
| Novorossiysk Commercial Sea Port ($NCSP) | 5.4% | 10.4% | 9.9% | 7.3% | |
| Center Fr Cargo Cont Trf Trcnt PJSC ($TRCN) | 15.6% | 16.9% | 11.5% | 5.7% | |
| Wisdom Marine Lines Co Limited ($WML) | 163.8% | 108.4% | 4.2% | 5.2% | |
| |
|---|
| Median (14 companies) | 8.0% | 8.8% | 4.2% | 2.8% | 15.1% |
|---|
| Yangming Marine Transport Corp ($YMTD) | 13.1% | 8.2% | 7.0% | 7.7% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Novorossiysk Commercial Sea Port ($NCSP) | 11.0% | 4.5% | 17.1% | 16.1% | |
| Zhejiang Expressway Co ($ZHEH) | 11.2% | 13.3% | 13.2% | 15.3% | 11.9% |
| Global Ports Investments ($GLPR) | 17.0% | 7.1% | 12.1% | 14.6% | |
| Dx ($DX.) | 9.3% | 9.6% | 14.5% | 12.8% | -52.4% |
| Frontline Ltd ($FRO) | -1.0% | -8.9% | 7.6% | 12.1% | 6.3% |
| |
|---|
| Median (14 companies) | 8.4% | 6.3% | 7.2% | 7.4% | 6.3% |
|---|
| Yangming Marine Transport Corp ($YMTD) | -3.1% | -8.2% | -0.1% | -5.5% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Evergreen Marine Corp(Taiwan) ($EGMD) | 7.9x | 33.6x | 6.7x | 18.3x | |
| Wisdom Marine Lines Co Limited ($WML) | 8.5x | 9.0x | 9.1x | 8.4x | |
| Novorossiysk Commercial Sea Port ($NCSP) | 4.1x | 7.1x | 2.6x | 4.1x | |
| Interbulk Group ($INB) | 3.3x | 4.1x | 3.5x | 3.6x | |
| Global Ports Investments ($GLPR) | 0.8x | 6.6x | 2.8x | 3.6x | |
| |
|---|
| Median (13 companies) | 3.1x | 4.1x | 2.7x | 3.3x | 3.6x |
|---|
