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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 0.3x - 0.3x | 0.3x |
Selected Fwd Ps Multiple | 0.3x - 0.3x | 0.3x |
Fair Value | ¥4,635 - ¥5,123 | ¥4,879 |
Upside | 11.0% - 22.7% | 16.9% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Imuraya Group Co., Ltd. | 220,900.0% | TSE:2209 |
Shinobu Foods Products Co., Ltd. | 290,300.0% | TSE:2903 |
Ichimasa Kamaboko Co., Ltd. | 290,400.0% | TSE:2904 |
Kameda Seika Co.,Ltd. | 222,000.0% | TSE:2220 |
Maruha Nichiro Corporation | 133,300.0% | TSE:1333 |
Itoham Yonekyu Holdings Inc. | 229,600.0% | TSE:2296 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
2209 | 2903 | 2904 | 2220 | 1333 | 2296 | |||
TSE:2209 | TSE:2903 | TSE:2904 | TSE:2220 | TSE:1333 | TSE:2296 | |||
Historical Sales Growth | ||||||||
5Y CAGR | 1.3% | 2.2% | -0.6% | -0.9% | 2.2% | 2.4% | ||
3Y CAGR | 4.6% | 3.3% | -0.2% | -2.6% | 6.1% | 4.3% | ||
Latest Twelve Months | 7.2% | 5.0% | 3.3% | 10.1% | 4.3% | 3.8% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 2.9% | 1.7% | 2.7% | 3.9% | 2.1% | 1.9% | ||
Prior Fiscal Year | 3.6% | 0.2% | 0.3% | 2.0% | 1.8% | 1.8% | ||
Latest Fiscal Year | 4.0% | 2.1% | 2.8% | 2.4% | 2.0% | 1.6% | ||
Latest Twelve Months | 4.6% | 2.0% | 3.5% | 3.7% | 2.0% | 1.3% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 5.3x | 2.7x | 7.1x | 8.1x | 8.2x | 7.8x | ||
Price / LTM Sales | 0.6x | 0.2x | 0.4x | 0.8x | 0.2x | 0.2x | ||
LTM P/E Ratio | 13.6x | 9.4x | 11.4x | 21.7x | 7.6x | 19.1x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.2x | 0.4x | 0.8x | |||||
Historical LTM P/S Ratio | 0.2x | 0.2x | 0.3x | |||||
Selected Price / Sales Multiple | 0.3x | 0.3x | 0.3x | |||||
(x) LTM Sales | 985,842 | 985,842 | 985,842 | |||||
(=) Equity Value | 260,894 | 274,625 | 288,356 | |||||
(/) Shares Outstanding | 56.7 | 56.7 | 56.7 | |||||
Implied Value Range | 4,598.52 | 4,840.55 | 5,082.58 | |||||
FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 4,598.52 | 4,840.55 | 5,082.58 | 4,175.00 | ||||
Upside / (Downside) | 10.1% | 15.9% | 21.7% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 2209 | 2903 | 2904 | 2220 | 1333 | 2296 | |
Value of Common Equity | 31,531 | 10,787 | 13,788 | 81,803 | 164,404 | 236,866 | |
(/) Shares Outstanding | 13.1 | 11.9 | 18.4 | 21.1 | 50.4 | 56.7 | |
Implied Stock Price | 2,410.00 | 907.00 | 749.00 | 3,880.00 | 3,264.00 | 4,175.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 2,410.00 | 907.00 | 749.00 | 3,880.00 | 3,264.00 | 4,175.00 | |
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 |