PAN PACIFIC INTERNATIONAL HOLDINGS CORPORATION

Financials Pan Pacific International Holdings Corporation Börse Stuttgart

Equities

QJE

JP3639650005

Discount Stores

Market Closed - Börse Stuttgart Other stock markets 07:11:15 14/06/2024 BST			5-day change	1st Jan Change
21.8 ^EUR	0.00%		-4.39%	+3.81%

05-13	Pan Pacific International Holdings Corporation Revises Consolidated Earnings Guidance for the Year Ending June 30, 2024	CI
02-14	Pan Pacific International Shares Rise as Earnings Grow on International Traveler Demand	DJ

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,082,762	1,501,588	1,462,478	1,290,943	1,534,997	2,242,462	-	-
Enterprise Value (EV) ¹	1,447,984	1,849,653	1,838,118	1,701,261	1,872,327	2,539,033	2,504,557	2,456,676
P/E ratio	22.4 x	29.8 x	27.2 x	21.1 x	23.2 x	26.6 x	23.6 x	21.6 x
Yield	0.58%	0.63%	0.69%	0.79%	0.78%	0.64%	0.74%	0.81%
Capitalization / Revenue	0.81 x	0.89 x	0.86 x	0.7 x	0.79 x	1.07 x	1.02 x	0.97 x
EV / Revenue	1.09 x	1.1 x	1.08 x	0.93 x	0.97 x	1.22 x	1.13 x	1.06 x
EV / EBITDA	16.7 x	17.6 x	16.3 x	13.4 x	12.7 x	14.1 x	13.1 x	12 x
EV / FCF	22.3 x	64.4 x	55.3 x	33.8 x	24.1 x	37.6 x	36.3 x	30.8 x
FCF Yield	4.48%	1.55%	1.81%	2.96%	4.15%	2.66%	2.76%	3.25%
Price to Book	3.29 x	4.02 x	3.49 x	3.29 x	3.39 x	4.27 x	3.73 x	3.27 x
Nbr of stocks (in thousands)	633,194	633,849	634,206	596,279	596,579	596,876	-	-
Reference price ²	1,710	2,369	2,306	2,165	2,573	3,757	3,757	3,757
Announcement Date	13/08/19	12/08/20	17/08/21	12/08/22	16/08/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,328,874	1,681,947	1,708,635	1,831,280	1,936,783	2,087,435	2,208,154	2,317,554
EBITDA ¹	86,832	105,388	112,851	126,917	147,520	179,888	191,676	203,963
EBIT ¹	63,110	75,997	81,306	88,688	105,259	137,360	148,966	161,205
Operating Margin	4.75%	4.52%	4.76%	4.84%	5.43%	6.58%	6.75%	6.96%
Earnings before Tax (EBT) ¹	67,471	73,161	64,265	92,028	100,739	131,012	143,225	156,036
Net income ¹	48,253	50,303	53,851	61,928	66,167	83,970	94,948	103,302
Net margin	3.63%	2.99%	3.15%	3.38%	3.42%	4.02%	4.3%	4.46%
EPS ²	76.23	79.39	84.93	102.6	110.9	141.2	159.3	174.0
Free Cash Flow ¹	64,865	28,719	33,247	50,380	77,692	67,570	69,076	79,854
FCF margin	4.88%	1.71%	1.95%	2.75%	4.01%	3.24%	3.13%	3.45%
FCF Conversion (EBITDA)	74.7%	27.25%	29.46%	39.7%	52.67%	37.56%	36.04%	39.15%
FCF Conversion (Net income)	134.43%	57.09%	61.74%	81.35%	117.42%	80.47%	72.75%	77.3%
Dividend per Share ²	10.00	15.00	16.00	17.00	20.00	23.92	27.90	30.41
Announcement Date	13/08/19	12/08/20	17/08/21	12/08/22	16/08/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2020 S1	2020 S2	2021 S1	2021 S2	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	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4
Net sales ¹	858,789	823,158	852,861	855,774	472,206	917,680	452,799	460,801	473,694	504,755	978,449	478,755	479,579	509,329	538,265	1,047,594	519,780	520,055	542,246	572,491	1,121,973	551,592	554,171
EBITDA	-	-	-	-	36,955	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	45,113	30,884	49,329	31,977	27,569	43,644	19,436	25,608	23,870	33,586	57,456	24,257	23,546	32,886	42,615	75,501	34,767	28,871	37,101	46,479	79,660	36,984	32,436
Operating Margin	5.25%	3.75%	5.78%	3.74%	5.84%	4.76%	4.29%	5.56%	5.04%	6.65%	5.87%	5.07%	4.91%	6.46%	7.92%	7.21%	6.69%	5.55%	6.84%	8.12%	7.1%	6.7%	5.85%
Earnings before Tax (EBT)	41,975	-	48,536	15,729	-	43,626	23,200	-	28,477	-	56,073	22,994	-	35,763	-	72,883	37,281	-	-	-	-	-	-
Net income ¹	28,890	-	32,638	21,213	17,728	30,148	15,836	15,944	18,449	18,328	36,777	14,712	14,678	24,609	23,605	48,214	23,867	11,289	26,300	30,800	-	23,700	20,100
Net margin	3.36%	-	3.83%	2.48%	3.75%	3.29%	3.5%	3.46%	3.89%	3.63%	3.76%	3.07%	3.06%	4.83%	4.39%	4.6%	4.59%	2.17%	4.85%	5.38%	-	4.3%	3.63%
EPS ²	45.61	-	51.48	-	29.52	49.40	26.52	26.72	30.94	30.73	61.67	24.66	24.61	41.25	39.55	80.80	40.00	17.55	-	-	-	-	-
Dividend per Share ²	3.000	-	3.000	13.00	-	3.000	-	-	-	-	4.000	-	-	-	5.000	5.000	-	16.00	-	18.00	-	-	38.00
Announcement Date	05/02/20	12/08/20	10/02/21	17/08/21	10/02/22	10/02/22	10/05/22	12/08/22	08/11/22	08/02/23	08/02/23	10/05/23	16/08/23	10/11/23	13/02/24	13/02/24	13/05/24	-	-	-	-	-	-

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	365,222	348,065	375,640	410,318	337,330	296,571	262,095	214,214
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.206 x	3.303 x	3.329 x	3.233 x	2.287 x	1.649 x	1.367 x	1.05 x
Free Cash Flow ¹	64,865	28,719	33,247	50,380	77,692	67,570	69,076	79,854
ROE (net income / shareholders' equity)	15.6%	14.3%	13.6%	15.3%	15.7%	17.1%	17%	16.2%
ROA (Net income/ Total Assets)	6.54%	5.83%	6.11%	7.29%	7.75%	7.3%	7.65%	7.96%
Assets ¹	737,380	862,389	881,553	848,974	853,879	1,149,984	1,240,828	1,297,365
Book Value Per Share ²	520.0	589.0	660.0	658.0	760.0	879.0	1,007	1,149
Cash Flow per Share ²	114.0	126.0	135.0	166.0	182.0	211.0	243.0	262.0
Capex ¹	46,985	36,416	45,807	51,145	60,263	64,902	70,506	70,120
Capex / Sales	3.54%	2.17%	2.68%	2.79%	3.11%	3.11%	3.19%	3.03%
Announcement Date	13/08/19	12/08/20	17/08/21	12/08/22	16/08/23	-	-	-

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 Pan Pacific International Holdings Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3,757 JPY

Average target price

4,098 JPY

Spread / Average Target

+9.07%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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