Toople Plc reports 17.5% revenue growth in FY2018 and 12.9 pp EBITDA Margin growth from -102% to -88.9%
18 Dec 2018 • About Toople Plc (
$TOOP) • By InTwits
Toople Plc reported FY2018 financial results today. Overall the company's long term financial model is characterised by the following facts:
- Toople Plc is a fast growth stock: FY2018 revenue growth was 17.5%, 5 year revenue CAGR was 75.4% at FY2018 ROIC -97.8%
- The company operates at negative EBITDA Margin: -88.9%
- Toople Plc 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 -113.5%
- Toople Plc has medium CAPEX intensity: 5 year average CAPEX/Revenue was 9.0%. At the same time it's in pair with industry average of 1.4%
- CAPEX is quite volatile: £0m in FY2018, £0m in FY2017, £0m in FY2016, £0m in FY2015, £0m in FY2014
- The company has unprofitable business model: ROIC is -97.8%
- It operates with medium-size leverage: Net Debt/EBITDA is 1.5x while industry average is
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 jumped on 17.5%. During FY2014-FY2018 Revenue growth topped in FY2016 at 2,692% and was decelerating since that time. Having declining revenue the company managed to increase EBITDA margin. EBITDA Margin increased on 8.4 pp from 19.8% to 28.1% in 2018.
Gross Margin increased slightly on 1.1 pp from 12.4% to 13.5% in FY2018. During the last 5 years Gross Margin bottomed in FY2015 at -122% and was growing since that time. SG&A as a % of Revenue surged on 28.6 pp from 23.4% to 52.0% in FY2018.
Net Income margin surged on 24.9 pp from -106% to -81.5% in FY2018. During the last 5 years Net Income margin bottomed in FY2015 at -1,024% and was growing since that time.
Return on investment
The company operates at negative ROIC (-97.8%) and ROE (-150.6%). ROIC surged on 92.5 pp from -190% to -97.8% in FY2018. ROE jumped on 542 pp from -693% to -151% in FY2018. During the last 5 years ROIC bottomed in FY2016 at -404% and was growing since that time.
Leverage (Debt)
Debt level is 1.5x Net Debt / EBITDA and Debt / EBITDA. Debt surged on 10.5% while cash jumped on 161%.
The company has no short term refinancing risk: short term debt is zero.
Financial and operational results
FY ended 30 Sep 2018
Toople Plc ($TOOP) key annual financial indicators| mln. £ | 2014 | 2015 | 2016 | 2017 | 2018 | 2018/2017 |
|---|
P&L
|
|---|
| Revenue | 0.034 | 0.034 | 0.958 | 1.281 | 1.505 | 17.5% |
| Gross Profit | 0.028 | -0.042 | 0.078 | 0.159 | 0.204 | 27.8% |
| SG&A | 0.026 | 0.331 | 0.606 | 0.300 | 0.783 | 161.3% |
| EBITDA | 0.027 | | -1.710 | -1.305 | -1.338 | |
| Net Income | 0.002 | -0.351 | -1.734 | -1.363 | -1.226 | |
Balance Sheet
|
|---|
| Cash | 0.000 | 0.129 | 0.744 | 0.821 | 2.144 | 161.2% |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | |
| Long Term Debt | 0.000 | 0.507 | 0.469 | 0.518 | 0.572 | 10.5% |
Cash flow
|
|---|
| Capex | 0.015 | 0.000 | 0.000 | 0.000 | 0.000 | |
Ratios
|
|---|
| Revenue growth | -62.5% | 0.9% | 2,692.4% | 33.8% | 17.5% | |
| EBITDA growth | 69.9% | | | -23.7% | 2.6% | |
|
|---|
| Gross Margin | 83.6% | -121.8% | 8.1% | 12.4% | 13.5% | 1.1% |
| EBITDA Margin | 79.2% | | -178.5% | -101.9% | -88.9% | 12.9% |
| SG&A, % of revenue | 76.4% | 964.7% | 63.2% | 23.4% | 52.0% | 28.6% |
| Net Income Margin | 5.9% | -1,024.3% | -181.0% | -106.4% | -81.5% | 24.9% |
| CAPEX, % of revenue | 44.9% | 0.0% | 0.0% | 0.0% | 0.0% | |
|
|---|
| ROIC | 2.1% | -201.4% | -404.0% | -190.3% | -97.8% | 92.5% |
| ROE | 2.1% | | | -692.6% | -150.6% | 542.0% |
| Net Debt/EBITDA | -0.0x | | | | |
Peers in #N/A N/A
Below we provide Toople Plc benchmarking against other companies in #N/A N/A 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 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Drum Income Plus REIT Plc ($DRIP) | | | | 269.3% | |
| |
|---|
| Median (1 company) | | | | 269.3% | |
|---|
| Toople Plc ($TOOP) | | 0.9% | 2,692.4% | 33.8% | 17.5% |
Top companies by CAPEX/Revenue, %
| Top | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Drum Income Plus REIT Plc ($DRIP) | | | 3,486.5% | 40.5% | |
| |
|---|
| Median (1 company) | | | 3,486.5% | 40.5% | |
|---|
| Toople Plc ($TOOP) | 44.9% | 0.0% | 0.0% | 0.0% | 0.0% |
Top companies by ROIC, %
| Top | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|
| Drum Income Plus REIT Plc ($DRIP) | | | | | |
| |
|---|
| Median (1 company) | | | | | |
|---|
| Toople Plc ($TOOP) | 2.1% | -201.4% | -404.0% | -190.3% | -97.8% |
