Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 20.6x - 22.8x | 21.7x |
| Selected Fwd EBIT Multiple | 15.4x - 17.0x | 16.2x |
| Fair Value | ¥8,083 - ¥9,073 | ¥8,578 |
| Upside | 3.9% - 16.6% | 10.2% |
| Benchmarks | Ticker | Full Ticker |
| Skylark Holdings Co., Ltd. | 3197 | TSE:3197 |
| Yoshinoya Holdings Co., Ltd. | 9861 | TSE:9861 |
| Mos Food Services, Inc. | 8153 | TSE:8153 |
| WB Burgers Asia, Inc. | WBBA | OTCPK:WBBA |
| Yum! Brands, Inc. | YUM | NYSE:YUM |
| Zensho Holdings Co., Ltd. | 7550 | TSE:7550 |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| 3197 | 9861 | 8153 | WBBA | YUM | 7550 | ||
| TSE:3197 | TSE:9861 | TSE:8153 | OTCPK:WBBA | NYSE:YUM | TSE:7550 | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 0.7% | 137.7% | 51.9% | NM- | 5.6% | 23.9% | |
| 3Y CAGR | NM- | NM- | 43.3% | NM- | 5.5% | 66.6% | |
| Latest Twelve Months | 44.6% | -0.3% | 81.8% | 61.1% | 7.2% | 71.2% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | -0.7% | 1.5% | 2.8% | -520.5% | 32.6% | 3.2% | |
| Prior Fiscal Year | 5.0% | 2.0% | 0.0% | -701.8% | 33.5% | 2.8% | |
| Latest Fiscal Year | 6.4% | 4.3% | 4.5% | -373.3% | 33.6% | 5.6% | |
| Latest Twelve Months | 6.4% | 3.8% | 5.1% | -153.2% | 33.6% | NA | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 2.09x | 0.91x | 0.77x | 0.76x | 6.75x | 1.29x | |
| EV / LTM EBITDA | 11.4x | 13.0x | 7.3x | -0.6x | 18.8x | 12.6x | |
| EV / LTM EBIT | 32.9x | 24.0x | 15.1x | -0.5x | 20.1x | 19.2x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | -0.5x | 20.1x | 32.9x | ||||
| Historical EV / LTM EBIT | 21.3x | 33.0x | 90.6x | ||||
| Selected EV / LTM EBIT | 20.6x | 21.7x | 22.8x | ||||
| (x) LTM EBIT | 74,362 | 74,362 | 74,362 | ||||
| (=) Implied Enterprise Value | 1,531,168 | 1,611,755 | 1,692,343 | ||||
| (-) Non-shareholder Claims * | (206,627) | (206,627) | (206,627) | ||||
| (=) Equity Value | 1,324,541 | 1,405,128 | 1,485,716 | ||||
| (/) Shares Outstanding | 156.7 | 156.7 | 156.7 | ||||
| Implied Value Range | 8,454.65 | 8,969.05 | 9,483.45 | ||||
| FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 8,454.65 | 8,969.05 | 9,483.45 | 7,781.00 | |||
| Upside / (Downside) | 8.7% | 15.3% | 21.9% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 3197 | 9861 | 8153 | WBBA | YUM | 7550 | |
| Enterprise Value | 825,018 | 181,529 | 72,946 | 0 | 52,076 | 1,425,631 | |
| (+) Cash & Short Term Investments | 19,170 | 21,245 | 23,197 | 0 | 712 | 96,236 | |
| (+) Investments & Other | 23,995 | 19,172 | 21,597 | 0 | 8 | 1,546 | |
| (-) Debt | (219,688) | (27,535) | (5,797) | (0) | (12,286) | (304,128) | |
| (-) Other Liabilities | 0 | (601) | (256) | 0 | 0 | (281) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 648,495 | 193,810 | 111,687 | 0 | 40,510 | 1,219,004 | |
| (/) Shares Outstanding | 227.5 | 64.7 | 30.9 | 20.7 | 278.5 | 156.7 | |
| Implied Stock Price | 2,850.50 | 2,995.00 | 3,620.00 | 0.00 | 145.45 | 7,781.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 2,850.50 | 2,995.00 | 3,620.00 | 0.00 | 145.45 | 7,781.00 | |
| Trading Currency | JPY | JPY | JPY | USD | USD | JPY | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |