Mackinac Financial (MFNC) Financials

+0.12 (+0.7%)

$182.4 M

MFNC Mkt cap, 18-Jul-2018

Mackinac Financial Net income (FY, 2017)5.5 M

Mackinac Financial EBIT (FY, 2017)37.3 M

Mackinac Financial Cash, 31-Dec-201737.4 M

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	25.5 m	27.7 m	33.5 m	42.1 m
Revenue growth, %		8%	21%	26%
Cost of goods sold	4.1 m	4.1 m	4.4 m	4.9 m	6.4 m
Gross profit	21.4 m	23.5 m	29.1 m	37.3 m
Gross profit Margin, %	84%	85%	87%	88%
Sales and marketing expense				15.2 m	711 k
R&D expense				1.6 m	2 m
Operating expense total				16.9 m	2.7 m
EBIT	19.7 m	22.3 m	27.9 m	32.5 m	37.3 m
EBIT margin, %	77%	81%	83%	77%
Pre tax profit	5.5 m	2.8 m	7.9 m	6.8 m	11 m
Income tax expense			2.3 m	2.3 m	5.5 m
Net Income	5.9 m	1.7 m	5.6 m	4.5 m	5.5 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Revenue	7.1 m	7.3 m	7.3 m	7.7 m	9.3 m	9.4 m	9.2 m	8.9 m	10 m	11.5 m	11.4 m	11.7 m
Cost of goods sold	1 m	1 m	1 m	1 m	1.1 m	1.1 m	1.2 m	1 m	1.1 m	1.3 m	1.4 m	1.5 m	1.7 m
Gross profit	6.1 m	6.3 m	6.3 m	6.7 m	8.1 m	8.4 m	8 m	7.9 m	8.9 m	10.2 m	9.9 m	10.1 m
Gross profit Margin, %	85%	86%	86%	86%	88%	88%	87%	89%	89%	89%	87%	87%
Sales and marketing expense	2.3 m	2.6 m	2.6 m	2.6 m	3.2 m	3 m	3.3 m	3.5 m	3.7 m	3.8 m	3.9 m	3.8 m	3.9 m
R&D expense	269 k	286 k	288 k	288 k	355 k	359 k	327 k	345 k	333 k	440 k	461 k	489 k	533 k
Operating expense total	2.6 m	2.9 m	2.9 m	2.9 m	3.5 m	3.4 m	3.6 m	3.9 m	4 m	4.3 m	4.4 m	4.3 m	4.5 m
Depreciation and amortization													1.8 m
EBIT	5 m	5.4 m	5.5 m	5.7 m	7.2 m	6.8 m	6.9 m	7.3 m	7.8 m	8.5 m	9 m	9.3 m	9.8 m
EBIT margin, %	70%	74%	75%	74%	78%	72%	75%	82%	79%	74%	79%	79%
Pre tax profit	1.4 m	994 k	1.2 m	1.3 m	2.1 m	2.5 m	1.5 m	1.7 m	(151 k)	2.7 m	2.6 m	2.5 m	3 m
Income tax expense	456 k	334 k	414 k		712 k	836 k	526 k	585 k	(26 k)	922 k	889 k	867 k	925 k
Net Income	896 k	660 k	806 k	886 k	1.4 m						1.7 m	1.7 m	2.1 m

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	18.2 m	21.9 m	25 m	46.8 m	37.4 m
Accounts Receivable
Inventories
PP&E	10.2 m	12.7 m	12.5 m	15.9 m	16.3 m
Goodwill		3.8 m	3.8 m	5.7 m	5.7 m
Total Assets	572.8 m	743.8 m	739.3 m	983.5 m	985.4 m
Accounts Payable				823.5 m	818 m
Short-term debt
Long-term debt
Total Liabilities				904.9 m	904 m
Retained Earnings	11.4 m	11.8 m	15.2 m	17.2 m	19.7 m
Total Equity	65.2 m	74 m	76.6 m	78.6 m	81.4 m
Financial Leverage	8.8 x	10.1 x	9.7 x	12.5 x	12.1 x

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Cash	22.8 m	24.8 m	20.7 m	22.4 m	24.2 m	16.7 m	38.6 m	18 m	40.2 m	48.6 m	41.2 m	89 m	57.7 m
PP&E	10.5 m	9.8 m	9.8 m	9.8 m	12.6 m	12.6 m	12.7 m	12.5 m	14.7 m	16 m	16 m	16.7 m	16.6 m
Goodwill					3.8 m	3.8 m	3.8 m	3.8 m	5.2 m	5.7 m	5.7 m	5.7 m	5.7 m
Total Assets	567.9 m	583.6 m	595.9 m	613.9 m	728.8 m	735.3 m	755 m	732.9 m	892.3 m	959.1 m	976.6 m	1 b	1 b
Accounts Payable	461.7 m	475.7 m	484 m	491.2 m	597.9 m	588.8 m	622.3 m	593 m	738.4 m	807.2 m	821.8 m	848.2 m
Total Liabilities	500.9 m	517.9 m	529.4 m	546.8 m	653.8 m	659.6 m	678.9 m	655.5 m	815.2 m	880.8 m	896.6 m	946.1 m	932.4 m
Retained Earnings	8.8 m	11.8 m	12.3 m	12.9 m	12.7 m	13.9 m	14.2 m	15.7 m	15 m	16.1 m	18.2 m	19.1 m	20.4 m
Total Equity	67 m	65.7 m	66.5 m	67.1 m	75 m	75.7 m	76.1 m	77.4 m	77.1 m	78.3 m	80 m	81.3 m	82.6 m
Financial Leverage	8.5 x	8.9 x	9 x	9.1 x	9.7 x	9.7 x	9.9 x	9.5 x	11.6 x	12.3 x	12.2 x	12.6 x	12.3 x

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	5.9 m	1.7 m	5.6 m	4.5 m	5.5 m
Depreciation and Amortization	1.7 m	1.5 m	1.7 m	1.9 m	2.4 m
Accounts Receivable
Inventories
Accounts Payable
Cash From Operating Activities	9.3 m	8.4 m	13.1 m	377 k	15.7 m
Cash From Investing Activities	(39 m)	(55 m)	(6 m)	(42.3 m)	(22.5 m)
Cash From Financing Activities	20.9 m	50.3 m	(4 m)	63.7 m	(2.6 m)
Interest Paid	4.2 m	4.1 m	4.4 m	4.8 m	6.4 m
Income Taxes Paid	149 k	100 k	150 k	1.1 m	1.1 m
Free Cash Flow	10.8 m	9.9 m	14.4 m	(1.8 m)	13.4 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Net Income	896 k	660 k	806 k	2.4 m	1.4 m	3 m	4 m	1.1 m	1 m	2.8 m	1.7 m	3.4 m
Depreciation and Amortization				1.1 m	414 k	841 k	1.3 m	395 k	825 k	1.3 m	572 k	1.2 m
Cash From Operating Activities				5.4 m	5.6 m	7.8 m	10.3 m	1.3 m	14.8 m	17.6 m	2.5 m	6.6 m
Cash From Investing Activities				(39.7 m)	6.5 m	(8.2 m)	(6.5 m)	(923 k)	(35.6 m)	(36.1 m)	(1.3 m)	(6 m)
Cash From Financing Activities				38.5 m	(9.8 m)	(5 m)	12.7 m	(7.4 m)	36 m	42.1 m	(6.7 m)	41.7 m
Interest Paid				3.1 m	1.1 m	2.2 m	3.3 m	1 m	2 m	3.3 m	1.4 m	3 m
Income Taxes Paid				75 k	25 k	150 k	150 k	50 k	100 k	100 k	50 k	100 k
Free Cash Flow				4.3 m	5.3 m	7.2 m	9.2 m	945 k	13.8 m	15.8 m	2 m	4.9 m

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