Company Valuation: Jollibee Foods Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 240,133 257,323 281,546 302,119 201,719 157,458 - -
Change - 7.16% 9.41% 7.31% -33.23% -21.94% - -
Enterprise Value (EV) 1 268,657 282,382 299,135 382,036 305,999 210,901 204,467 194,272
Change - 5.11% 5.93% 27.71% -19.9% -31.08% -3.05% -4.99%
P/E 41.2x 36x 33.8x 30.5x 19.2x 15.7x 13.8x 11.6x
PBR 3.17x - 3.27x 3.23x 2.57x 1.99x 1.75x 1.63x
PEG - 1.7x 2x 1.6x 3.16x -3.51x 1x 0.6x
Capitalization / Revenue 1.56x 1.21x 1.15x 1.12x 0.66x 0.47x 0.43x 0.4x
EV / Revenue 1.75x 1.33x 1.23x 1.42x 1x 0.64x 0.56x 0.49x
EV / EBITDA 11.7x 9.05x 8.85x 10.4x 7.32x 5.13x 4.48x 3.88x
EV / EBIT 42.5x 28.4x 20.8x 22.6x 15.2x 10.1x 8.98x 7.51x
EV / FCF 22.4x 19.8x 11.3x 17.3x 14.4x 8.39x 7.71x 4.51x
FCF Yield 4.46% 5.04% 8.87% 5.77% 6.95% 11.9% 13% 22.2%
Dividend per Share 2 1.67 2.3 2.3 2.97 3.44 3.459 3.817 4.713
Rate of return 0.77% 1% 0.91% 1.1% 1.91% 2.46% 2.72% 3.35%
EPS 2 5.258 6.382 7.444 8.826 9.362 8.943 10.19 12.07
Distribution rate 31.8% 36% 30.9% 33.7% 36.7% 38.7% 37.4% 39%
Net sales 1 153,508 211,902 244,107 269,942 305,112 331,893 363,264 393,028
EBITDA 1 23,026 31,214 33,815 36,746 41,830 41,151 45,626 50,065
EBIT 1 6,320 9,941 14,414 16,889 20,150 20,856 22,764 25,863
Net income 1 5,943 7,559 8,766 10,317 10,872 10,093 11,570 13,632
Net Debt 1 28,524 25,059 17,589 79,917 104,280 53,443 47,009 36,813
Reference price 2 216.40 230.00 251.40 269.00 180.00 140.50 140.50 140.50
Nbr of stocks (in thousands) 1,109,674 1,118,797 1,119,911 1,123,118 1,120,661 1,120,701 - -
Announcement Date 2/9/22 3/15/23 3/12/24 3/14/25 3/10/26 - - -
1PHP in Million2PHP
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.71x0.64x5.13x2.46% 2.51B
40.96x3.35x21.79x2.69% 107B
22.03x1.12x11.06x2.54% 49.51B
18.44x1.89x11.43x3.13% 23.53B
28.6x1.3x10.9x0.82% 10.06B
32.82x0.48x8.93x2.94% 9.3B
12.06x1.45x7.11x2.51% 9.01B
34.11x2.41x13.38x0.43% 7B
10.49x0.84x5.16x8.59% 6.59B
13.69x2.4x9.47x3.37% 6.51B
Average 22.89x 1.59x 10.44x 2.95% 23.08B
Weighted average by Cap. 30.49x 2.29x 15.61x 2.74%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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