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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 0.5x - 0.5x | 0.5x |
Selected Fwd Ps Multiple | 0.4x - 0.5x | 0.5x |
Fair Value | ¥1,436 - ¥1,587 | ¥1,512 |
Upside | -16.4% - -7.6% | -12.0% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Yakult Honsha Co.,Ltd. | 226,700.0% | TSE:2267 |
WELLNEO SUGAR Co., Ltd. | 211,700.0% | TSE:2117 |
Starzen Company Limited | 804,300.0% | TSE:8043 |
Nissui Corporation | 133,200.0% | TSE:1332 |
Imuraya Group Co., Ltd. | 220,900.0% | TSE:2209 |
HOB Co.,Ltd. | 138,200.0% | TSE:1382 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
2267 | 2117 | 8043 | 1332 | 2209 | 1382 | |||
TSE:2267 | TSE:2117 | TSE:8043 | TSE:1332 | TSE:2209 | TSE:1382 | |||
Historical Sales Growth | ||||||||
5Y CAGR | 4.3% | 13.6% | 3.2% | 3.1% | 1.3% | -6.8% | ||
3Y CAGR | 9.3% | 28.2% | 5.5% | 8.2% | 4.6% | -6.1% | ||
Latest Twelve Months | -0.3% | 7.5% | 4.0% | 6.6% | 7.2% | -5.2% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 11.6% | 4.0% | 1.6% | 2.6% | 2.9% | 3.0% | ||
Prior Fiscal Year | 10.5% | 1.8% | 1.8% | 2.8% | 3.6% | 4.4% | ||
Latest Fiscal Year | 10.1% | 6.0% | 1.8% | 2.9% | 4.0% | 0.8% | ||
Latest Twelve Months | 10.2% | 6.3% | 1.7% | 2.7% | 4.6% | 1.0% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 6.6x | 4.4x | 6.7x | 7.6x | 5.2x | 17.9x | ||
Price / LTM Sales | 1.8x | 0.8x | 0.2x | 0.3x | 0.6x | 0.6x | ||
LTM P/E Ratio | 17.4x | 12.3x | 10.0x | 11.4x | 13.3x | 57.2x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.2x | 0.6x | 1.8x | |||||
Historical LTM P/S Ratio | 0.2x | 0.3x | 0.7x | |||||
Selected Price / Sales Multiple | 0.5x | 0.5x | 0.5x | |||||
(x) LTM Sales | 2,375 | 2,375 | 2,375 | |||||
(=) Equity Value | 1,099 | 1,157 | 1,215 | |||||
(/) Shares Outstanding | 0.8 | 0.8 | 0.8 | |||||
Implied Value Range | 1,443.42 | 1,519.38 | 1,595.35 | |||||
FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 1,443.42 | 1,519.38 | 1,595.35 | 1,717.00 | ||||
Upside / (Downside) | -15.9% | -11.5% | -7.1% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 2267 | 2117 | 8043 | 1332 | 2209 | 1382 | |
Value of Common Equity | 893,762 | 74,962 | 71,472 | 264,480 | 30,785 | 1,308 | |
(/) Shares Outstanding | 300.5 | 32.4 | 58.4 | 310.8 | 13.1 | 0.8 | |
Implied Stock Price | 2,974.00 | 2,313.00 | 1,223.00 | 850.90 | 2,353.00 | 1,717.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 2,974.00 | 2,313.00 | 1,223.00 | 850.90 | 2,353.00 | 1,717.00 | |
Trading Currency | JPY | JPY | JPY | JPY | JPY | JPY | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |