Oxford BioDynamics Plc reports 3.3% CAPEX growth in 2018 and almost no change in Revenue of 1.2
11 Dec 2018 • About Oxford BioDynamics Plc (
$OBD) • By InTwits
Oxford BioDynamics Plc reported FY2018 financial results today. Here are the key drivers of the company's long term financial model:
- The company operates at negative EBITDA Margin: -191.5%
- Oxford BioDynamics Plc motivates its personel by high Stock Based Compensation (SBC): average SBC/Revenue for FY2014-FY2018 was 4.0% while average EBITDA Margin was -209.1% for the sames years. In FY2018 SBC/Revenue was even higher: 16.4%
- Oxford BioDynamics Plc has high CAPEX intensity: 5 year average CAPEX/Revenue was 34.5%. At the same time it's in pair with industry average of 37.0%
- CAPEX is quite volatile: £0m in FY2018, £0m in FY2017, £0m in FY2016, £1m in FY2015, £0m in FY2014
- The company has unprofitable business model: ROIC is -16.6%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue showed almost no change in FY2018. Despite revenue decline the EBITDA margin expanded. EBITDA Margin jumped on 11.9 pp from -3.7% to 8.2% in FY2018. During the last 5 years EBITDA Margin bottomed in FY2017 at -318%.
SG&A as a % of Revenue dropped on 22.8 pp from 114% to 91.3% in FY2018.
Net Income margin surged on 157 pp from -322% to -165% in FY2018. During FY2014-FY2018 Net Income margin bottomed in FY2017 at -322%.
Investments (CAPEX, working capital and M&A)
In FY2018 the company had CAPEX/Revenue of 37.0%. Oxford BioDynamics Plc showed big decline in CAPEX/Revenue of 37.5 pp from 74.5% in FY2015 to 37.0% in FY2018. It's average level of CAPEX/Revenue for the last three years was 30.7%.
Return on investment
The company operates at negative ROIC (-16.6%) and ROE (-12.5%). ROIC jumped on 26.4 pp from -43.0% to -16.6% in FY2018. ROE surged on 28.4 pp from -40.9% to -12.5% in FY2018.
Leverage (Debt)
The company has no debt. Cash surged on 94.7%.
Management team
Insider ownership is 13.4%.
Financial and operational results
FY ended 30 Sep 2018
Oxford BioDynamics Plc ($OBD) key annual financial indicators| mln. £ | 2014 | 2015 | 2016 | 2017 | 2018 | 2018/2017 |
|---|
P&L
|
|---|
| Revenue | 0.659 | 0.702 | 1.091 | 1.183 | 1.186 | 0.3% |
| SG&A | 0.369 | 0.687 | 0.903 | 1.350 | 1.083 | -19.8% |
| EBITDA | -0.717 | -1.170 | -2.162 | -3.761 | -2.271 | |
| EBIT | | | | | -2.602 | |
| Tax | | | | | 0.470 | |
| Net Income | -0.736 | -1.005 | -1.730 | -3.804 | -1.953 | |
| Stock Based Compensation | | | | | 0.195 | |
Balance Sheet
|
|---|
| Cash | 5.498 | 8.435 | 6.730 | 9.386 | 18.278 | 94.7% |
| Inventory | | | | | 0.146 | |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
| Long Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
Cash flow
|
|---|
| Capex | 0.038 | 0.523 | 0.208 | 0.425 | 0.439 | 3.3% |
Ratios
|
|---|
| Revenue growth | 88.3% | 6.5% | 55.4% | 8.4% | 0.3% | |
| EBITDA growth | -26.3% | 63.2% | 84.8% | 74.0% | -39.6% | |
|
|---|
| EBITDA Margin | -108.8% | -166.7% | -198.2% | -317.9% | -191.5% | 126.4% |
| EBIT Margin | | | | | -219.4% |
| SG&A, % of revenue | 56.0% | 97.9% | 82.8% | 114.1% | 91.3% | -22.8% |
| SBC, % of revenue | | | | | 16.4% |
| Net Income Margin | -111.7% | -143.2% | -158.6% | -321.6% | -164.7% | 156.9% |
| CAPEX, % of revenue | 5.8% | 74.5% | 19.1% | 35.9% | 37.0% | 1.1% |
|
|---|
| ROIC | -18.7% | -17.7% | -28.3% | -43.0% | -16.6% | 26.4% |
| ROE | -18.1% | -14.1% | -21.1% | -40.9% | -12.5% | 28.4% |
People
|
|---|
| Insider ownership | | | | | 13.4% | |
Peers in Life Sciences Tools & Services
Below we provide Oxford BioDynamics Plc benchmarking against other companies in Life Sciences Tools & 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.
