Financials Saizeriya Co.,Ltd.

Equities

7581

JP3310500008

Restaurants & Bars

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-09 am EDT			5-day change	1st Jan Change
5,290 ^JPY	-1.49%		+1.73%	+5.17%

Feb. 29	Guangzhou Saizeriya Co., Ltd. announced that it expects to receive $30 million in funding from Saizeriya Co.,Ltd.	CI
Feb. 27	Soaring Japanese equities offer investors cozy distance from troubled China	RE

Valuation

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	128,850	96,557	121,524	127,236	223,366	262,558	-	-
Enterprise Value (EV) ¹	85,755	54,321	88,692	94,480	182,026	210,547	201,643	191,856
P/E ratio	26 x	-28.1 x	68.8 x	22.5 x	43.4 x	37.4 x	23.9 x	20.2 x
Yield	0.68%	0.91%	0.72%	0.69%	0.39%	0.34%	0.34%	0.34%
Capitalization / Revenue	0.82 x	0.76 x	0.96 x	0.88 x	1.22 x	1.21 x	1.13 x	1.07 x
EV / Revenue	0.55 x	0.43 x	0.7 x	0.65 x	0.99 x	0.97 x	0.87 x	0.78 x
EV / EBITDA	5.42 x	8.94 x	10.5 x	7.78 x	9.22 x	7.86 x	6.64 x	5.7 x
EV / FCF	9.4 x	-10.1 x	77.9 x	4.87 x	19.5 x	17.7 x	14.6 x	12.1 x
FCF Yield	10.6%	-9.93%	1.28%	20.5%	5.14%	5.65%	6.84%	8.29%
Price to Book	1.52 x	1.21 x	1.47 x	1.36 x	2.27 x	2.52 x	2.3 x	2.09 x
Nbr of stocks (in thousands)	48,900	48,570	48,668	48,881	48,770	48,894	-	-
Reference price ²	2,635	1,988	2,497	2,603	4,580	5,370	5,370	5,370
Announcement Date	10/9/19	10/14/20	10/13/21	10/12/22	10/11/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	156,527	126,842	126,513	144,275	183,244	217,822	231,874	245,691
EBITDA ¹	15,827	6,073	8,450	12,143	19,748	26,791	30,390	33,655
EBIT ¹	9,599	-3,815	-2,264	422	7,222	13,191	16,303	19,053
Operating Margin	6.13%	-3.01%	-1.79%	0.29%	3.94%	6.06%	7.03%	7.76%
Earnings before Tax (EBT) ¹	7,443	-4,530	2,593	8,617	6,927	12,118	15,190	17,590
Net income ¹	4,980	-3,450	1,765	5,660	5,154	7,041	11,032	13,030
Net margin	3.18%	-2.72%	1.4%	3.92%	2.81%	3.23%	4.76%	5.3%
EPS ²	101.5	-70.84	36.31	115.9	105.6	143.7	225.1	265.9
Free Cash Flow ¹	9,120	-5,392	1,139	19,385	9,353	11,889	13,801	15,904
FCF margin	5.83%	-4.25%	0.9%	13.44%	5.1%	5.46%	5.95%	6.47%
FCF Conversion (EBITDA)	57.62%	-	13.48%	159.64%	47.36%	44.38%	45.41%	47.26%
FCF Conversion (Net income)	183.13%	-	64.53%	342.49%	181.47%	168.86%	125.1%	122.06%
Dividend per Share ²	18.00	18.00	18.00	18.00	18.00	18.00	18.00	18.00
Announcement Date	10/9/19	10/14/20	10/13/21	10/12/22	10/11/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: August	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3
Net sales ¹	76,927	49,915	62,869	63,644	33,961	35,250	69,211	38,135	36,929	75,064	43,123	40,747	83,870	48,233	51,141	99,374	52,646	51,988	104,634	55,037	57,160	56,300	54,700	58,000
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	3,783	-7,598	-782	-1,482	-219	173	-46	1,107	-639	468	1,697	-793	904	2,664	3,654	6,318	3,459	2,475	5,934	3,673	3,456	4,100	3,200	4,200
Operating Margin	4.92%	-15.22%	-1.24%	-2.33%	-0.64%	0.49%	-0.07%	2.9%	-1.73%	0.62%	3.94%	-1.95%	1.08%	5.52%	7.14%	6.36%	6.57%	4.76%	5.67%	6.67%	6.05%	7.28%	5.85%	7.24%
Earnings before Tax (EBT) ¹	3,377	-7,907	-635	3,228	3,587	3,904	7,491	2,228	-1,102	1,126	1,609	-887	722	2,847	3,358	6,205	3,603	2,650	6,253	3,750	3,250	-	-	-
Net income ¹	2,241	-5,691	-565	2,330	2,456	2,575	5,031	1,545	-916	629	1,329	-734	595	2,061	2,498	4,559	2,701	-147	2,554	2,882	1,142	2,800	2,100	2,900
Net margin	2.91%	-11.4%	-0.9%	3.66%	7.23%	7.3%	7.27%	4.05%	-2.48%	0.84%	3.08%	-1.8%	0.71%	4.27%	4.88%	4.59%	5.13%	-0.28%	2.44%	5.24%	2%	4.97%	3.84%	5%
EPS ²	45.88	-	-11.65	-	50.37	52.73	103.1	31.59	-18.78	-	27.20	-15.00	12.20	42.23	51.19	-	55.19	-3.040	52.15	40.99	64.47	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	4/8/20	10/14/20	4/14/21	10/13/21	1/12/22	4/13/22	4/13/22	7/13/22	10/12/22	10/12/22	1/11/23	4/12/23	4/12/23	7/12/23	10/11/23	10/11/23	1/10/24	4/10/24	4/10/24	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	43,095	42,236	32,832	32,756	41,340	52,011	60,915	70,703
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	9,120	-5,392	1,139	19,385	9,353	11,889	13,801	15,905
ROE (net income / shareholders' equity)	5.9%	-4.2%	2.2%	6.4%	5.4%	6.8%	9.89%	10.5%
ROA (Net income/ Total Assets)	9.1%	-1.83%	2.68%	7.53%	5.25%	7.03%	8.77%	9.57%
Assets ¹	54,725	188,948	65,929	75,117	98,247	100,104	125,836	136,202
Book Value Per Share ²	1,729	1,641	1,701	1,921	2,014	2,132	2,331	2,566
Cash Flow per Share	228.0	132.0	257.0	356.0	362.0	-	-	-
Capex ¹	5,585	5,676	8,108	10,975	11,446	13,097	12,083	12,047
Capex / Sales	3.57%	4.47%	6.41%	7.61%	6.25%	6.01%	5.21%	4.9%
Announcement Date	10/9/19	10/14/20	10/13/21	10/12/22	10/11/23	-	-	-

¹JPY in Million²JPY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Saizeriya Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5,370 JPY

Average target price

6,786 JPY

Spread / Average Target

+26.36%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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JUBILANT FOODWORKS LIMITED	-19.43%	3.7B

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