SUNTORY BEVERAGE & FOOD LIMITED Financials Suntory Beverage & Food Limited OTC Markets
Equities
STBFY
US86803T1043
Non-Alcoholic Beverages
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 18.9 USD | +3.73% |
|
+5.65% | +15.31% |
| 14/06 | Suntory Holdings Files for Singapore Listing of $500 Million Worth of Bonds Due 2029 | MT |
| 05/06 | Boston Beer's Stock Decline Presents 'More Balanced Risk/Reward,' Morgan Stanley Says | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 14,04,405 | 11,27,850 | 12,85,440 | 13,90,500 | 14,36,850 | 18,04,251 | - | - |
| Enterprise Value (EV) 1 | 14,68,209 | 11,63,346 | 12,74,132 | 13,12,618 | 13,39,526 | 17,16,776 | 17,03,193 | 16,48,700 |
| P/E ratio | 20.4 x | 21.6 x | 18.7 x | 16.9 x | 17.4 x | 19.4 x | 17.3 x | 16.5 x |
| Yield | 1.72% | 2.14% | 1.88% | 1.78% | 1.72% | 1.99% | 2.21% | 2.35% |
| Capitalization / Revenue | 1.08 x | 0.96 x | 1.01 x | 0.96 x | 0.9 x | 1.06 x | 1.02 x | 0.99 x |
| EV / Revenue | 1.13 x | 0.99 x | 1 x | 0.91 x | 0.84 x | 1.01 x | 0.96 x | 0.91 x |
| EV / EBITDA | 7.94 x | 6.97 x | 6.78 x | 6.24 x | 6.24 x | 7.25 x | 6.57 x | 6.12 x |
| EV / FCF | 13.2 x | 16 x | 12.5 x | 12.1 x | 16.6 x | 31.2 x | 20.3 x | 13.4 x |
| FCF Yield | 7.57% | 6.26% | 8.01% | 8.24% | 6.01% | 3.2% | 4.93% | 7.46% |
| Price to Book | 1.86 x | 1.44 x | 1.49 x | 1.44 x | 1.32 x | 1.57 x | 1.5 x | 1.42 x |
| Nbr of stocks (in thousands) | 3,09,000 | 3,09,000 | 3,09,000 | 3,09,000 | 3,09,000 | 3,09,000 | - | - |
| Reference price 2 | 4,545 | 3,650 | 4,160 | 4,500 | 4,650 | 5,839 | 5,839 | 5,839 |
| Announcement Date | 13/02/20 | 09/02/21 | 14/02/22 | 13/02/23 | 15/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 12,99,385 | 11,78,137 | 12,68,900 | 14,50,397 | 15,91,722 | 16,96,345 | 17,65,970 | 18,16,129 |
| EBITDA 1 | 1,84,983 | 1,66,829 | 1,87,944 | 2,10,479 | 2,14,805 | 2,36,636 | 2,59,423 | 2,69,471 |
| EBIT 1 | 1,13,948 | 96,177 | 1,18,600 | 1,39,688 | 1,41,726 | 1,58,823 | 1,77,088 | 1,86,022 |
| Operating Margin | 8.77% | 8.16% | 9.35% | 9.63% | 8.9% | 9.36% | 10.03% | 10.24% |
| Earnings before Tax (EBT) 1 | 1,12,186 | 94,168 | 1,17,052 | 1,39,291 | 1,41,781 | 1,57,779 | 1,75,973 | 1,86,761 |
| Net income 1 | 68,888 | 52,212 | 68,700 | 82,317 | 82,743 | 92,843 | 1,04,035 | 1,09,212 |
| Net margin | 5.3% | 4.43% | 5.41% | 5.68% | 5.2% | 5.47% | 5.89% | 6.01% |
| EPS 2 | 222.9 | 169.0 | 222.2 | 266.4 | 267.8 | 300.5 | 336.6 | 353.4 |
| Free Cash Flow 1 | 1,11,214 | 72,802 | 1,02,058 | 1,08,114 | 80,494 | 54,963 | 83,964 | 1,23,054 |
| FCF margin | 8.56% | 6.18% | 8.04% | 7.45% | 5.06% | 3.24% | 4.75% | 6.78% |
| FCF Conversion (EBITDA) | 60.12% | 43.64% | 54.3% | 51.37% | 37.47% | 23.23% | 32.37% | 45.67% |
| FCF Conversion (Net income) | 161.44% | 139.44% | 148.56% | 131.34% | 97.28% | 59.2% | 80.71% | 112.68% |
| Dividend per Share 2 | 78.00 | 78.00 | 78.00 | 80.00 | 80.00 | 116.3 | 129.3 | 137.2 |
| Announcement Date | 13/02/20 | 09/02/21 | 14/02/22 | 13/02/23 | 15/02/24 | - | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q4 | 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 | 2024 S2 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 5,52,529 | - | 6,03,835 | 3,27,100 | - | 2,96,010 | 3,82,999 | 6,79,009 | 4,02,385 | 3,69,003 | 7,71,388 | 3,37,200 | 4,11,935 | 7,49,135 | 4,44,300 | 3,98,321 | 8,42,587 | 3,71,700 | 4,46,482 | 8,19,800 | 4,66,890 | 4,19,005 | 8,74,100 | - | - |
| EBITDA | - | - | - | - | 35,176 | - | 39,109 | 76,352 | - | 53,357 | 51,581 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 35,712 | - | 60,401 | 18,200 | - | 21,624 | 58,746 | 80,370 | 34,588 | 24,730 | 59,318 | 26,400 | 42,431 | 68,831 | 47,900 | 24,955 | 72,895 | 33,900 | 47,808 | 80,076 | 50,600 | 28,357 | 78,124 | - | - |
| Operating Margin | - | 6.46% | - | 10% | 5.56% | - | 7.31% | 15.34% | 11.84% | 8.6% | 6.7% | 7.69% | 7.83% | 10.3% | 9.19% | 10.78% | 6.27% | 8.65% | 9.12% | 10.71% | 9.77% | 10.84% | 6.77% | 8.94% | - | - |
| Earnings before Tax (EBT) 1 | - | 35,113 | - | 59,343 | 17,652 | - | 21,490 | 58,716 | 80,206 | 34,624 | 24,461 | - | 26,514 | 42,847 | 69,361 | 48,126 | - | - | 34,651 | 52,200 | - | 49,000 | 26,800 | - | - | - |
| Net income 1 | - | 20,922 | - | 32,159 | 9,300 | - | 12,351 | 36,383 | 48,734 | 19,286 | 14,297 | - | 14,600 | 23,776 | 38,376 | 28,800 | 15,574 | - | 20,300 | 28,249 | - | 30,229 | 16,045 | - | - | - |
| Net margin | - | 3.79% | - | 5.33% | 2.84% | - | 4.17% | 9.5% | 7.18% | 4.79% | 3.87% | - | 4.33% | 5.77% | 5.12% | 6.48% | 3.91% | - | 5.46% | 6.33% | - | 6.47% | 3.83% | - | - | - |
| EPS 2 | - | 67.71 | - | 104.1 | 29.99 | - | 39.97 | 118.0 | 157.7 | 62.41 | 46.27 | - | 47.21 | 76.98 | 124.2 | 93.19 | 50.40 | - | 65.55 | 89.75 | - | 96.18 | 52.36 | - | - | - |
| Dividend per Share 2 | 39.00 | 39.00 | 39.00 | 39.00 | 39.00 | 39.00 | - | - | 39.00 | - | - | - | - | - | 40.00 | - | 40.00 | - | - | 61.50 | - | - | 61.50 | - | - | 67.00 |
| Announcement Date | 13/02/20 | 05/08/20 | 09/02/21 | 12/08/21 | 14/02/22 | 14/02/22 | 12/05/22 | 09/08/22 | 09/08/22 | 11/11/22 | 13/02/23 | 13/02/23 | 11/05/23 | 09/08/23 | 09/08/23 | 10/11/23 | 15/02/24 | 15/02/24 | 13/05/24 | - | - | - | - | - | - | - |
1JPY in Million2JPY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 63,804 | 35,496 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 11,308 | 77,882 | 97,324 | 87,475 | 1,01,058 | 1,55,551 |
| Leverage (Debt/EBITDA) | 0.3449 x | 0.2128 x | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,11,214 | 72,802 | 1,02,058 | 1,08,114 | 80,494 | 54,963 | 83,964 | 1,23,054 |
| ROE (net income / shareholders' equity) | 9.4% | 6.8% | 8.4% | 9% | 8.1% | 8.35% | 8.87% | 8.9% |
| ROA (Net income/ Total Assets) | 7.2% | 6% | 7.2% | 8.05% | 7.67% | 5.9% | 6.35% | 6.48% |
| Assets 1 | 9,56,778 | 8,70,926 | 9,54,088 | 10,22,462 | 10,78,419 | 15,73,604 | 16,38,342 | 16,86,665 |
| Book Value Per Share 2 | 2,448 | 2,530 | 2,785 | 3,124 | 3,519 | 3,720 | 3,883 | 4,101 |
| Cash Flow per Share 2 | 453.0 | 398.0 | 447.0 | 496.0 | 504.0 | 565.0 | 621.0 | 666.0 |
| Capex 1 | 58,815 | 62,485 | 56,122 | 60,228 | 79,236 | 1,38,800 | 1,03,000 | 74,600 |
| Capex / Sales | 4.53% | 5.3% | 4.42% | 4.15% | 4.98% | 8.18% | 5.83% | 4.11% |
| Announcement Date | 13/02/20 | 09/02/21 | 14/02/22 | 13/02/23 | 15/02/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
5,839
JPY
Average target price
6,255
JPY
Spread / Average Target
+7.12%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +8.45% | 28TCr | |
| +2.40% | 4.66TCr | |
| +32.55% | 2.5TCr | |
| -2.11% | 1.66TCr | |
| +5.54% | 1.32TCr | |
| +17.92% | 1.26TCr | |
| +4.54% | 1.12TCr | |
| +15.35% | 996.11Cr | |
| +52.62% | 594.4Cr |
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