Stock 2281 PRIMA MEAT PACKERS, LTD.
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Financials Prima Meat Packers, Ltd.

Equities

2281

JP3833200003

Food Processing

Market Closed - Japan Exchange
Other stock markets
 02:00:00 2024-04-26 am EDT 		5-day change 1st Jan Change
2,282 JPY +1.02% Intraday chart for Prima Meat Packers, Ltd. +2.19% -2.81%
Mar. 01 Prima Meat Packers' Nine-Month Attributable Profit Edges Up on Broad-Based Growth MT
2023 Prima Meat Packers' Fiscal H1 Attributable Profit Up Nearly 5% on Higher Net Sales MT

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 103,242 123,262 175,368 110,650 110,603 114,680 - -
Enterprise Value (EV) 1 117,552 134,303 184,551 118,718 125,149 133,280 137,580 126,380
P/E ratio 12.5 x 14 x 12.4 x 11.4 x 24.5 x 14.5 x 13.5 x 13.2 x
Yield 2.92% 2.45% 2.44% 2.95% 2.95% 2.85% 2.85% 2.85%
Capitalization / Revenue 0.25 x 0.29 x 0.4 x 0.26 x 0.26 x 0.26 x 0.25 x 0.24 x
EV / Revenue 0.28 x 0.32 x 0.43 x 0.28 x 0.29 x 0.3 x 0.3 x 0.27 x
EV / EBITDA 5.44 x 5.29 x 5.88 x 5.03 x 5.95 x 5.5 x 5.35 x 4.57 x
EV / FCF 27.7 x 15 x 12.4 x -17 x -37.1 x 46.2 x -3,574 x 9.12 x
FCF Yield 3.6% 6.65% 8.06% -5.87% -2.69% 2.16% -0.03% 11%
Price to Book 1.2 x 1.36 x 1.69 x 0.99 x 0.98 x 0.97 x 0.93 x 0.89 x
Nbr of stocks (in thousands) 50,264 50,249 50,249 50,250 50,251 50,254 - -
Reference price 2 2,054 2,453 3,490 2,202 2,201 2,282 2,282 2,282
Announcement Date 5/13/19 5/11/20 5/10/21 5/9/22 5/8/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 413,023 418,060 433,572 419,591 430,740 448,800 461,468 475,222
EBITDA 1 21,627 25,365 31,398 23,605 21,020 24,212 25,700 27,684
EBIT 1 13,168 15,636 21,475 12,966 9,725 12,100 12,684 13,131
Operating Margin 3.19% 3.74% 4.95% 3.09% 2.26% 2.7% 2.75% 2.76%
Earnings before Tax (EBT) 1 13,944 15,338 21,916 15,106 5,900 12,600 13,325 13,772
Net income 1 8,287 8,823 14,165 9,718 4,505 7,924 8,482 8,702
Net margin 2.01% 2.11% 3.27% 2.32% 1.05% 1.77% 1.84% 1.83%
EPS 2 164.8 175.6 281.9 193.4 89.66 157.7 168.8 173.2
Free Cash Flow 1 4,237 8,926 14,884 -6,974 -3,370 2,885 -38.5 13,858
FCF margin 1.03% 2.14% 3.43% -1.66% -0.78% 0.64% -0.01% 2.92%
FCF Conversion (EBITDA) 19.59% 35.19% 47.4% - - 11.92% - 50.06%
FCF Conversion (Net income) 51.13% 101.17% 105.08% - - 36.41% - 159.24%
Dividend per Share 2 60.00 60.00 85.00 65.00 65.00 65.00 65.00 65.00
Announcement Date 5/13/19 5/11/20 5/10/21 5/9/22 5/8/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Marzo 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 1 206,400 212,226 105,165 209,728 110,386 99,477 104,451 107,263 211,714 116,674 102,352 109,283 113,452 222,735 119,832 106,300
EBITDA - - - - - - - - - - - - - - - -
EBIT 1 7,531 11,148 3,284 7,995 3,521 1,450 3,405 2,066 5,471 3,291 963 3,607 3,222 6,829 3,562 1,700
Operating Margin 3.65% 5.25% 3.12% 3.81% 3.19% 1.46% 3.26% 1.93% 2.58% 2.82% 0.94% 3.3% 2.84% 3.07% 2.97% 1.6%
Earnings before Tax (EBT) 10,224 11,147 - 8,947 4,002 - 3,615 - 5,760 3,443 - 3,777 - 6,879 3,788 -
Net income 5,747 6,957 - 5,288 2,447 - 2,242 - 3,689 2,177 - 2,218 - 3,861 2,341 -
Net margin 2.78% 3.28% - 2.52% 2.22% - 2.15% - 1.74% 1.87% - 2.03% - 1.73% 1.95% -
EPS 114.4 138.5 - 105.2 48.71 - 44.62 - 73.43 43.32 - 44.15 - 76.85 46.57 -
Dividend per Share 20.00 20.00 - 20.00 - - - - 20.00 - - - - 20.00 - -
Announcement Date 10/31/19 10/30/20 11/1/21 11/1/21 2/2/22 5/9/22 8/1/22 10/31/22 10/31/22 2/6/23 5/8/23 7/31/23 10/31/23 10/31/23 2/5/24 -
1JPY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: Marzo 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 14,310 11,041 9,183 8,068 14,546 18,600 22,900 11,700
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.6617 x 0.4353 x 0.2925 x 0.3418 x 0.692 x 0.7682 x 0.891 x 0.4226 x
Free Cash Flow 1 4,237 8,926 14,884 -6,974 -3,370 2,885 -38.5 13,858
ROE (net income / shareholders' equity) 9.9% 10% 14.6% 9% 4% 6.85% 7.05% 6.95%
ROA (Net income/ Total Assets) 7.02% 7.93% 10.9% 6.82% 4.65% 5.2% 5.4% 5.4%
Assets 1 118,062 111,232 130,542 142,431 96,788 152,394 157,083 161,157
Book Value Per Share 2 1,713 1,802 2,062 2,226 2,252 2,345 2,448 2,556
Cash Flow per Share 2 333.0 369.0 479.0 401.0 308.0 401.0 425.0 460.0
Capex 1 19,549 13,378 12,364 20,304 24,051 22,655 22,320 9,350
Capex / Sales 4.73% 3.2% 2.85% 4.84% 5.58% 5.05% 4.84% 1.97%
Announcement Date 5/13/19 5/11/20 5/10/21 5/9/22 5/8/23 - - -
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 Prima Meat Packers, Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
2,282 JPY
Average target price
2,500 JPY
Spread / Average Target
+9.55%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Animal Slaughtering & Processing

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Animal Slaughtering & Processing
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