Financials Ohsho Food Service Corp.

Equities

9936

JP3174300008

Restaurants & Bars

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-05-21 EDT			5-day change	1st Jan Change
8,120 ^JPY	0.00%		+6.28%	+0.62%

05-15	Ohsho Food Service Corp. Provides Consolidated and Unconsolidated Earnings Guidance for the First Half Ending September 2024 and Full Year Ending March 31, 2025	CI
05-15	Ohsho Food Service Corp. Announces Dividend for the Year Ended March 31, 2024, Payable on June 28, 2024; Provides Year End Dividend Guidance for the Year Ending March 31, 2025	CI

Valuation

Fiscal Period: Maart	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	131,496	108,456	109,255	112,680	113,206	152,823	-	-
Enterprise Value (EV) ¹	122,547	96,176	96,659	91,303	90,177	147,366	152,823	152,823
P/E ratio	31.3 x	20.4 x	25.5 x	12.8 x	18.2 x	18.6 x	19.2 x	18.3 x
Yield	1.71%	2.08%	1.72%	2%	2.24%	1.85%	1.85%	1.93%
Capitalization / Revenue	1.61 x	1.27 x	1.36 x	1.33 x	1.22 x	1.45 x	1.45 x	1.41 x
EV / Revenue	1.61 x	1.27 x	1.36 x	1.33 x	1.22 x	1.45 x	1.45 x	1.41 x
EV / EBITDA	-	-	-	11.8 x	10.6 x	11.9 x	-	-
EV / FCF	17.9 x	-	41.1 x	10.9 x	28.1 x	31.2 x	22.4 x	20.2 x
FCF Yield	5.58%	-	2.43%	9.14%	3.56%	3.21%	4.46%	4.94%
Price to Book	2.81 x	2.16 x	2.06 x	1.91 x	1.8 x	2.15 x	2.06 x	1.91 x
Nbr of stocks (in thousands)	18,758	18,764	18,772	18,780	18,805	18,821	-	-
Reference price ²	7,010	5,780	5,820	6,000	6,020	8,120	8,120	8,120
Announcement Date	19-05-15	20-05-15	21-05-14	22-05-16	23-05-15	24-05-15	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Maart	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	81,638	85,571	80,616	84,775	93,022	101,401	105,500	108,500
EBITDA ¹	-	-	-	9,536	10,653	12,800	-	-
EBIT ¹	6,924	7,698	6,073	6,959	7,981	10,286	11,200	12,300
Operating Margin	8.48%	9%	7.53%	8.21%	8.58%	10.14%	10.62%	11.34%
Earnings before Tax (EBT) ¹	6,606	7,946	6,591	12,991	8,758	10,753	11,500	12,500
Net income ¹	4,189	5,311	4,287	8,807	6,213	7,911	7,700	8,220
Net margin	5.13%	6.21%	5.32%	10.39%	6.68%	7.8%	7.3%	7.58%
EPS ²	223.6	283.1	228.4	469.0	330.5	420.5	422.4	443.5
Free Cash Flow ¹	7,335	-	2,660	10,303	4,025	4,900	6,816	7,551
FCF margin	8.98%	-	3.3%	12.15%	4.33%	4.86%	6.46%	6.96%
FCF Conversion (EBITDA)	-	-	-	108.04%	37.78%	38.28%	-	-
FCF Conversion (Net income)	175.1%	-	62.05%	116.99%	64.78%	70.67%	88.51%	91.86%
Dividend per Share ²	120.0	120.0	100.0	120.0	135.0	145.0	150.0	156.7
Announcement Date	19-05-15	20-05-15	21-05-14	22-05-16	23-05-15	24-05-15	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Maart	2020 S1	2021 S1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4
Net sales ¹	42,568	39,142	20,250	40,463	22,295	22,017	22,617	22,519	45,136	23,922	23,964	24,623	25,121	49,744	25,785	25,872
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	4,020	2,391	-	3,192	1,829	1,938	2,185	1,635	3,820	2,114	2,047	2,415	2,573	4,988	2,533	2,765
Operating Margin	9.44%	6.11%	-	7.89%	8.2%	8.8%	9.66%	7.26%	8.46%	8.84%	8.54%	9.81%	10.24%	10.03%	9.82%	10.69%
Earnings before Tax (EBT)	4,232	2,655	-	6,286	4,050	-	2,804	-	4,608	2,163	-	2,848	-	5,469	2,596	-
Net income ¹	2,782	1,698	2,130	4,274	2,740	1,793	1,872	1,200	3,072	1,435	1,706	2,135	1,761	3,896	1,733	2,282
Net margin	6.54%	4.34%	10.52%	10.56%	12.29%	8.14%	8.28%	5.33%	6.81%	6%	7.12%	8.67%	7.01%	7.83%	6.72%	8.82%
EPS	148.3	90.48	-	227.6	145.9	95.46	99.69	-	163.5	76.28	-	113.5	-	207.2	92.08	-
Dividend per Share	60.00	50.00	-	50.00	-	-	-	-	60.00	-	-	-	-	70.00	-	-
Announcement Date	19-10-30	20-10-30	21-10-29	21-10-29	22-01-31	22-05-16	22-07-29	22-10-31	22-10-31	23-01-31	23-05-15	23-07-31	23-10-31	23-10-31	24-01-31	24-05-15

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: Maart	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	8,949	12,280	12,596	21,377	23,029	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	7,335	-	2,660	10,303	4,025	4,900	6,816	7,551
ROE (net income / shareholders' equity)	9%	10.9%	8.3%	15.7%	10.2%	12%	11.2%	11%
ROA (Net income/ Total Assets)	11.3%	12.3%	8.65%	14.4%	10.5%	12%	12.6%	13.4%
Assets ¹	36,977	43,192	49,535	61,048	58,972	66,163	61,111	61,343
Book Value Per Share ²	2,499	2,681	2,821	3,146	3,338	3,647	3,938	4,245
Cash Flow per Share	360.0	417.0	363.0	606.0	473.0	569.0	-	-
Capex ¹	1,448	2,243	3,192	2,941	3,300	4,454	3,400	3,500
Capex / Sales	1.77%	2.62%	3.96%	3.47%	3.55%	4.42%	3.22%	3.23%
Announcement Date	19-05-15	20-05-15	21-05-14	22-05-16	23-05-15	24-05-15	-	-

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 Ohsho Food Service Corp.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

8,120 JPY

Average target price

9,733 JPY

Spread / Average Target

+19.87%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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JOLLIBEE FOODS CORPORATION	-8.51%	4.44B
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GREGGS PLC	+9.30%	3.67B

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