Catalyst Media Group reports 71.5% Net Income decline in 2018 and almost no change in Revenue of 0.025
12 Dec 2018 • About Catalyst Media Group (
$CMX) • By InTwits
Catalyst Media Group reported FY2018 financial results today. Here are the key drivers of the company's long term financial model:
- The company operates at negative EBITDA Margin: -390.4%
- Catalyst Media Group spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2014-FY2018 is 0.0%. Average EBITDA Margin for the same period was -297.3%
- The company has unprofitable business model: ROIC is -0.4%
- It operates with medium-size leverage: Net Debt/EBITDA is 1.4x while industry average is -1.6x
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
The company's Revenue didn't change in FY2018. Having stable revenue the company managed to increase EBITDA margin. EBITDA Margin surged on 25.2 pp from -416% to -390% in FY2018.
SG&A as a % of Revenue dropped on 25.2 pp from 516% to 490% in FY2018.
Net Income margin dropped on 9,770 pp from 13,658% to 3,888% in FY2018.
Return on investment
The company operates at negative ROIC (-0.4%) and low but positive ROE (3.7%). ROIC showed almost no change in FY2018. ROE decreased on 9.8 pp from 13.6% to 3.7% in FY2018.
Leverage (Debt)
The company has no debt. Cash surged on 204%.
Financial and operational results
FY ended 30 Jun 2018
Catalyst Media Group ($CMX) key annual financial indicators| mln. £ | 2014 | 2015 | 2016 | 2017 | 2018 | 2018/2017 |
|---|
P&L
|
|---|
| Revenue | 0.025 | 0.025 | 0.025 | 0.025 | 0.025 | 0.0% |
| SG&A | 0.111 | | 0.112 | 0.129 | 0.123 | -4.9% |
| EBITDA | -0.083 | | -0.087 | -0.104 | -0.098 | |
| Net Income | -2.993 | | -0.044 | 3.415 | 0.972 | -71.5% |
Balance Sheet
|
|---|
| Cash | 0.538 | | 0.001 | 1.463 | 4.452 | 204.2% |
| 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 | 0.000 | | 0.000 | 0.000 | 0.000 | |
Ratios
|
|---|
| EBITDA growth | -32.3% | | | 19.4% | -6.1% | |
|
|---|
| EBITDA Margin | -332.3% | | -348.1% | -415.7% | -390.4% | 25.2% |
| SG&A, % of revenue | 445.0% | | 448.1% | 515.7% | 490.4% | -25.2% |
| Net Income Margin | -11,973.2% | | -175.9% | 13,658.4% | 3,887.9% | -9,770.5% |
|
|---|
| ROIC | -0.3% | | -0.3% | -0.4% | -0.4% | 0.0% |
| ROE | -11.1% | | -0.2% | 13.6% | 3.7% | -9.8% |
Peers in Media
Below we provide Catalyst Media Group benchmarking against other companies in Media 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 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Marimedia Ltd ($MARI) | 45.7% | 20.1% | 66.0% | 67.6% | |
| Future ($FUTR) | | -9.4% | -1.3% | 43.1% | 47.6% |
| Grupo Clarin Sa ($GCLA) | 39.8% | -57.9% | 37.2% | 24.4% | |
| Jaywing ($JWNG) | | 26.6% | 6.5% | 23.8% | 6.7% |
| Tla Worldwide ($TLA) | 6.3% | 130.0% | 10.6% | 23.4% | |
| |
|---|
| Median (24 companies) | 1.5% | 1.7% | 4.0% | 3.1% | 9.8% |
|---|
| Catalyst Media Group ($CMX) | | 0.0% | 0.0% | 0.0% | 0.0% |
Top companies by Gross margin, %
| Top 5 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Porta Communications ($PTCM) | 83.4% | 79.0% | 80.1% | 84.9% | |
| Jaywing ($JWNG) | 81.0% | 89.0% | 88.4% | 80.8% | 77.2% |
| Tla Worldwide ($TLA) | 99.9% | 78.8% | 75.5% | 68.1% | |
| Spaceandpeople ($SAL) | 62.2% | 58.8% | 57.2% | 66.1% | |
| Reed Elsevier ($REL) | 65.3% | 64.3% | 63.9% | 64.2% | |
| |
|---|
| Median (23 companies) | 43.8% | 41.8% | 40.2% | 40.2% | 40.7% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Haynes Publishing Group ($HYNS) | 38.8% | 33.5% | 15.4% | 35.0% | 36.8% |
| Reed Elsevier ($REL) | 32.7% | 32.7% | 33.9% | 34.4% | |
| Nahl Group ($NAH) | 28.8% | 29.5% | 34.9% | 27.4% | |
| Uls Technology ($ULS) | 16.7% | 21.1% | 19.8% | 21.2% | 13.8% |
| Spaceandpeople ($SAL) | 10.5% | 11.2% | 1.6% | 17.2% | |
| |
|---|
| Median (24 companies) | 14.8% | 11.8% | 7.0% | 6.8% | 8.5% |
|---|
| Catalyst Media Group ($CMX) | -332.3% | | -348.1% | -415.7% | -390.4% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Trader Media East ($TME) | 3.8% | 2.3% | | 47.5% | |
| Dods(Group ($DODS) | 0.6% | 0.4% | 0.6% | 12.7% | 1.3% |
| Grupo Clarin Sa ($GCLA) | 12.8% | 1.6% | 2.7% | 2.7% | |
| Naspers ($NPSN) | | 4.0% | 3.1% | 2.5% | 2.0% |
| Ite Group ($ITE) | 1.7% | 1.3% | 1.8% | 2.1% | 2.4% |
| |
|---|
| Median (24 companies) | 1.6% | 1.1% | 0.7% | 0.9% | 1.4% |
|---|
| Catalyst Media Group ($CMX) | 0.0% | | 0.0% | 0.0% | 0.0% |
Top companies by ROIC, %
| Top 5 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Uls Technology ($ULS) | 44.1% | 39.6% | 39.3% | 31.3% | 19.1% |
| Independent News & Media ($INM) | 29.6% | 65.1% | 118.5% | 24.4% | |
| Marimedia Ltd ($MARI) | 39.0% | 6.4% | 39.6% | 23.9% | |
| Reed Elsevier ($REL) | 21.0% | 21.4% | 21.4% | 21.4% | |
| Nahl Group ($NAH) | 31.5% | 26.0% | 23.0% | 17.3% | |
| |
|---|
| Median (26 companies) | 8.2% | 7.0% | 2.6% | 0.8% | 2.9% |
|---|
| Catalyst Media Group ($CMX) | -0.3% | | -0.3% | -0.4% | -0.4% |
Top companies by Net Debt / EBITDA
| Top 5 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Ite Group ($ITE) | 0.3x | 1.4x | 6.3x | 7.3x | 12.7x |
| Porta Communications ($PTCM) | 3.4x | 2.7x | | 5.0x | |
| Quarto Group Inc ($QRT) | 1.4x | 1.1x | 1.8x | 3.9x | |
| Reed Elsevier ($REL) | 1.9x | 1.9x | 2.2x | 2.0x | |
| Future ($FUTR) | | 1.6x | | 1.9x | 1.3x |
| |
|---|
| Median (18 companies) | 0.9x | 1.2x | 0.1x | 0.6x | 0.0x |
|---|
