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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 1.7x - 1.8x | 1.8x |
Historical Pb Multiple | 1.4x - 2.5x | 1.6x |
Fair Value | $14.01 - $15.48 | $14.75 |
Upside | 9.0% - 20.5% | 14.8% |
Benchmarks | - | Full Ticker |
Suntory Beverage & Food Limited | 258,700.0% | TSE:2587 |
Asahi Group Holdings, Ltd. | 250,200.0% | TSE:2502 |
Sapporo Holdings Limited | 250,100.0% | TSE:2501 |
Keurig Dr Pepper Inc. | - | NasdaqGS:KDP |
Tsingtao Brewery Company Limited | 60,060,000.0% | SHSE:600600 |
Kirin Holdings Company, Limited | - | OTCPK:KNBW.F |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
2587 | 2502 | 2501 | KDP | 600600 | KNBW.F | |||
TSE:2587 | TSE:2502 | TSE:2501 | NasdaqGS:KDP | SHSE:600600 | OTCPK:KNBW.F | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 6.3% | 6.2% | -0.4% | 2.8% | 24.5% | -0.5% | ||
3Y CAGR | 10.8% | 7.8% | -14.5% | -12.4% | 24.6% | -0.9% | ||
Latest Twelve Months | 13.0% | 17.1% | -11.6% | -33.9% | 0.0% | -48.3% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 6.5% | 6.0% | 0.7% | 13.0% | 10.8% | 5.9% | ||
Prior Fiscal Year | 5.2% | 5.9% | 1.7% | 14.7% | 11.5% | 5.3% | ||
Latest Fiscal Year | 5.5% | 6.5% | 1.5% | 9.4% | 12.6% | 2.5% | ||
Latest Twelve Months | 5.5% | 6.5% | 1.5% | 9.4% | 13.6% | 2.5% | ||
Return on Equity | ||||||||
5 Year Average Margin | 8.2% | 8.1% | 2.5% | 7.1% | 13.8% | 9.7% | ||
Prior Fiscal Year | 8.1% | 7.3% | 5.0% | 8.6% | 15.3% | 10.7% | ||
Latest Twelve Months | 8.1% | 7.5% | 4.1% | 5.8% | 15.0% | 5.0% | ||
Next Fiscal Year | 8.1% | 7.7% | 7.2% | 11.3% | 15.6% | 5.0% | ||
Two Fiscal Years Forward | 8.1% | 8.0% | 7.8% | 11.8% | 15.6% | 5.6% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 0.9x | 1.0x | 1.2x | 3.0x | 2.8x | 0.7x | ||
Price / LTM EPS | 16.3x | 15.2x | 80.7x | 31.5x | 20.3x | 28.9x | ||
Price / Book | 1.3x | 1.1x | 3.2x | 1.9x | 3.0x | 1.4x | ||
Price / Fwd Book | 1.2x | 1.1x | 3.0x | 1.8x | 2.9x | 1.5x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | 1.1x | 1.9x | 3.2x | |||||
Historical P/B Ratio | 1.4x | 1.6x | 2.5x | |||||
Selected P/B Multiple | 1.7x | 1.8x | 1.8x | |||||
(x) Book Value | 1,181,525 | 1,181,525 | 1,181,525 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 2587 | 2502 | 2501 | KDP | 600600 | KNBW.F | |
Value of Common Equity | 1,524,606 | 2,928,307 | 622,841 | 45,410 | 85,346 | 1,806,709 | |
(/) Shares Outstanding | 309.0 | 1,502.9 | 77.9 | 1,356.8 | 1,145.6 | 947.7 | |
Implied Stock Price | 4,934.00 | 1,948.50 | 7,993.00 | 33.47 | 74.50 | 1,906.48 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 148.36 | |
Implied Stock Price (Trading Cur) | 4,934.00 | 1,948.50 | 7,993.00 | 33.47 | 74.50 | 12.85 | |
Trading Currency | JPY | JPY | JPY | USD | CNY | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 148.36 |