Reported Earnings • May 19
First quarter 2024 earnings released: JP¥13.55 loss per share (vs JP¥6.48 profit in 1Q 2023) First quarter 2024 results: JP¥13.55 loss per share (down from JP¥6.48 profit in 1Q 2023). Revenue: JP¥4.87b (down 25% from 1Q 2023). Net loss: JP¥513.0m (down 309% from profit in 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. 공시 • Feb 28
Snow Peak, Inc. to Report Q1, 2024 Results on May 15, 2024 Snow Peak, Inc. announced that they will report Q1, 2024 results on May 15, 2024 공시 • Feb 21
BCJ-79 Co., Ltd. made an offer to acquire 71.44% stake in Snow Peak, Inc. (TSE:7816) from Mieko Watanabe and Yoshiko Yamai and others for ¥34 billion. BCJ-79 Co., Ltd. made an offer to acquire 71.44% stake in Snow Peak, Inc. (TSE:7816) from Mieko Watanabe and Yoshiko Yamai and others for ¥34 billion in February 20, 2024. The offer per share is ¥1,250 per common share. Tender offer is supposed to Complete on April 12, 2024. TMI Associates acts as Legal advisor to Snow Peak, Inc. Deloitte Tohmatsu Financial Advisory LLC acted as Financial advisor to Snow Peak, Inc. Price Target Changed • Feb 19
Price target increased by 27% to JP¥1,810 Up from JP¥1,430, the current price target is provided by 1 analyst. New target price is 83% above last closing price of JP¥988. Stock is down 55% over the past year. The company is forecast to post earnings per share of JP¥22.45 for next year compared to JP¥0.026 last year. 공시 • Feb 15
Snow Peak, Inc., Annual General Meeting, Mar 28, 2024 Snow Peak, Inc., Annual General Meeting, Mar 28, 2024. Reported Earnings • Feb 14
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥0.026 (down from JP¥51.43 in FY 2022). Revenue: JP¥25.7b (down 16% from FY 2022). Net income: JP¥1.00m (down 100% from FY 2022). Profit margin: 0% (down from 6.3% in FY 2022). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 19% per year. Major Estimate Revision • Feb 14
Consensus EPS estimates fall by 30% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥29.1b to JP¥28.6b. EPS estimate also fell from JP¥32.13 per share to JP¥22.45 per share. Net income forecast to grow 58% next year vs 0.7% growth forecast for Leisure industry in Japan. Consensus price target down from JP¥1,430 to JP¥1,355. Share price fell 10% to JP¥763 over the past week. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥12.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥826, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 14x in the Leisure industry in Japan. Total loss to shareholders of 7.6% over the past three years. 공시 • Dec 05
Snow Peak, Inc. to Report Fiscal Year 2023 Results on Feb 13, 2024 Snow Peak, Inc. announced that they will report fiscal year 2023 results on Feb 13, 2024 공시 • Nov 17
Snow Peak, Inc. Provides Dividend Guidance for the Fiscal Year Ending December 31, 2023 Snow Peak, Inc. provided dividend guidance for the fiscal year ending December 31, 2023. For the year, the company expects to pay dividend of JPY 12.00 per share. New Risk • Nov 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: JP¥4.89 (vs JP¥9.65 in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.89 (down from JP¥9.65 in 3Q 2022). Revenue: JP¥6.39b (down 12% from 3Q 2022). Net income: JP¥185.0m (down 49% from 3Q 2022). Profit margin: 2.9% (down from 5.0% in 3Q 2022). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Major Estimate Revision • Nov 15
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥27.5b to JP¥26.4b. EPS estimate also fell from JP¥28.99 per share to JP¥21.58 per share. Net income forecast to grow 42% next year vs 4.0% growth forecast for Leisure industry in Japan. Consensus price target down from JP¥1,555 to JP¥1,430. Share price was steady at JP¥996 over the past week. New Risk • Oct 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin). 공시 • Aug 30
Snow Peak, Inc. to Report Q3, 2023 Results on Nov 13, 2023 Snow Peak, Inc. announced that they will report Q3, 2023 results on Nov 13, 2023 Major Estimate Revision • Aug 21
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥32.4b to JP¥27.8b. EPS estimate fell from JP¥71.02 to JP¥27.74 per share. Net income forecast to grow 146% next year vs 13% growth forecast for Leisure industry in Japan. Consensus price target down from JP¥2,030 to JP¥1,880. Share price fell 9.0% to JP¥1,460 over the past week. Price Target Changed • Aug 19
Price target decreased by 7.4% to JP¥1,880 Down from JP¥2,030, the current price target is an average from 2 analysts. New target price is 29% above last closing price of JP¥1,460. Stock is down 37% over the past year. The company is forecast to post earnings per share of JP¥27.74 for next year compared to JP¥51.43 last year. New Risk • Aug 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (2.5% net profit margin). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: JP¥6.21 (vs JP¥28.24 in 2Q 2022) Second quarter 2023 results: EPS: JP¥6.21 (down from JP¥28.24 in 2Q 2022). Revenue: JP¥6.66b (down 23% from 2Q 2022). Net income: JP¥235.0m (down 78% from 2Q 2022). Profit margin: 3.5% (down from 12% in 2Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. 공시 • May 28
Snow Peak, Inc. to Report Q2, 2023 Results on Aug 10, 2023 Snow Peak, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • May 17
First quarter 2023 earnings released: EPS: JP¥6.48 (vs JP¥16.96 in 1Q 2022) First quarter 2023 results: EPS: JP¥6.48 (down from JP¥16.96 in 1Q 2022). Revenue: JP¥6.48b (down 8.5% from 1Q 2022). Net income: JP¥245.0m (down 62% from 1Q 2022). Profit margin: 3.8% (down from 9.1% in 1Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 25
Price target decreased by 19% to JP¥2,155 Down from JP¥2,650, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,080. Stock is down 27% over the past year. The company posted earnings per share of JP¥51.43 last year. Major Estimate Revision • Feb 20
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥36.4b to JP¥32.5b. EPS estimate fell from JP¥86.30 to JP¥69.83 per share. Net income forecast to grow 36% next year vs 0.5% decline forecast for Leisure industry in Japan. Consensus price target of JP¥2,475 unchanged from last update. Share price fell 2.1% to JP¥2,142 over the past week. 공시 • Feb 15
Snow Peak, Inc., Annual General Meeting, Mar 29, 2023 Snow Peak, Inc., Annual General Meeting, Mar 29, 2023. Reported Earnings • Feb 14
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥51.43 (down from JP¥72.16 in FY 2021). Revenue: JP¥30.8b (up 20% from FY 2021). Net income: JP¥1.95b (down 29% from FY 2021). Profit margin: 6.3% (down from 11% in FY 2021). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 28 March 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.3%). 공시 • Dec 09
Snow Peak, Inc. to Report Fiscal Year 2022 Results on Feb 13, 2023 Snow Peak, Inc. announced that they will report fiscal year 2022 results on Feb 13, 2023 Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: JP¥9.65 (vs JP¥16.79 in 3Q 2021) Third quarter 2022 results: EPS: JP¥9.65 (down from JP¥16.79 in 3Q 2021). Revenue: JP¥7.23b (up 7.6% from 3Q 2021). Net income: JP¥365.0m (down 43% from 3Q 2021). Profit margin: 5.0% (down from 9.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year whereas the company’s share price has increased by 61% per year. Price Target Changed • Nov 16
Price target decreased to JP¥2,725 Down from JP¥3,650, the current price target is an average from 2 analysts. New target price is 23% above last closing price of JP¥2,211. Stock is down 47% over the past year. The company is forecast to post earnings per share of JP¥68.79 for next year compared to JP¥72.16 last year. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Executive Officer, General Manager of Planning Division and Director Kei Kosugi was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • Oct 07
Snow Peak, Inc. to Report Q3, 2022 Results on Nov 14, 2022 Snow Peak, Inc. announced that they will report Q3, 2022 results on Nov 14, 2022 Price Target Changed • Sep 07
Price target decreased to JP¥2,725 Down from JP¥3,650, the current price target is an average from 3 analysts. New target price is 31% above last closing price of JP¥2,081. Stock is down 25% over the past year. The company is forecast to post earnings per share of JP¥68.79 for next year compared to JP¥72.16 last year. Major Estimate Revision • Aug 24
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥32.7b to JP¥31.3b. EPS estimate also fell from JP¥96.90 per share to JP¥70.07 per share. Net income forecast to shrink 3.1% next year vs 9.7% decline forecast for Leisure industry in Japan. Consensus price target down from JP¥3,650 to JP¥3,425. Share price fell 3.2% to JP¥2,275 over the past week. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: JP¥28.24 (vs JP¥19.07 in 2Q 2021) Second quarter 2022 results: EPS: JP¥28.24 (up from JP¥19.07 in 2Q 2021). Revenue: JP¥8.61b (up 30% from 2Q 2021). Net income: JP¥1.07b (up 48% from 2Q 2021). Profit margin: 12% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 4.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. 공시 • Aug 04
Snow Peak, Inc. to Report Q2, 2022 Results on Aug 12, 2022 Snow Peak, Inc. announced that they will report Q2, 2022 results on Aug 12, 2022 Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥2,410, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 14x in the Leisure industry in Japan. Total returns to shareholders of 251% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,225 per share. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,754, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 15x in the Leisure industry in Japan. Total returns to shareholders of 316% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,181 per share. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: JP¥16.96 (up from JP¥10.88 in 1Q 2021). Revenue: JP¥7.08b (up 40% from 1Q 2021). Net income: JP¥642.0m (up 57% from 1Q 2021). Profit margin: 9.1% (up from 8.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 21%, compared to a 4.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to JP¥3,417 Up from JP¥3,117, the current price target is an average from 3 analysts. New target price is 39% above last closing price of JP¥2,463. Stock is up 26% over the past year. The company is forecast to post earnings per share of JP¥96.90 for next year compared to JP¥72.16 last year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Executive Officer, General Manager of Planning Division and Director Kei Kosugi was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • Apr 08
Snow Peak, Inc. to Report Q1, 2022 Results on May 13, 2022 Snow Peak, Inc. announced that they will report Q1, 2022 results on May 13, 2022 Buying Opportunity • Apr 05
Now 20% undervalued Over the last 90 days, the stock is up 8.9%. The fair value is estimated to be JP¥4,037, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 56%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings is also forecast to grow by 23% per annum over the same time period. Reported Earnings • Apr 02
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: JP¥72.16 (up from JP¥28.14 in FY 2020). Revenue: JP¥25.7b (up 53% from FY 2020). Net income: JP¥2.73b (up 160% from FY 2020). Profit margin: 11% (up from 6.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 27%, compared to a 7.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 23% share price gain to JP¥3,435, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 15x in the Leisure industry in Japan. Total returns to shareholders of 398% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,943 per share. Reported Earnings • Feb 18
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: JP¥72.16 (up from JP¥28.14 in FY 2020). Revenue: JP¥25.7b (up 53% from FY 2020). Net income: JP¥2.73b (up 160% from FY 2020). Profit margin: 11% (up from 6.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 26%, compared to a 5.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year whereas the company’s share price has increased by 54% per year. 공시 • Feb 16
Snow Peak, Inc., Annual General Meeting, Mar 25, 2022 Snow Peak, Inc., Annual General Meeting, Mar 25, 2022. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥2,791, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 17x in the Leisure industry in Japan. Total returns to shareholders of 317% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 23% share price decline to JP¥2,312, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 17x in the Leisure industry in Japan. Total returns to shareholders of 283% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 29 March 2022. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 45% share price gain to JP¥8,880, the stock trades at a forward P/E ratio of 76x. Average forward P/E is 17x in the Leisure industry in Japan. Total returns to shareholders of 564% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS JP¥33.57 (vs JP¥18.90 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥6.72b (up 39% from 3Q 2020). Net income: JP¥635.0m (up 78% from 3Q 2020). Profit margin: 9.4% (up from 7.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥5,560, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 18x in the Leisure industry in Japan. Total returns to shareholders of 245% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥4,910, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 19x in the Leisure industry in Japan. Total returns to shareholders of 187% over the past three years. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥6,040, the stock trades at a forward P/E ratio of 74x. Average forward P/E is 18x in the Leisure industry in Japan. Total returns to shareholders of 276% over the past three years. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS JP¥38.14 (vs JP¥5.84 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥6.63b (up 91% from 2Q 2020). Net income: JP¥721.0m (up JP¥611.0m from 2Q 2020). Profit margin: 11% (up from 3.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 27% share price gain to JP¥4,985, the stock trades at a forward P/E ratio of 66x. Average forward P/E is 18x in the Leisure industry in Japan. Total returns to shareholders of 210% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥3,785, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 19x in the Leisure industry in Japan. Total returns to shareholders of 156% over the past three years. Reported Earnings • May 18
First quarter 2021 earnings released: EPS JP¥21.76 (vs JP¥5.29 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥5.05b (up 63% from 1Q 2020). Net income: JP¥410.0m (up 332% from 1Q 2020). Profit margin: 8.1% (up from 3.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 20% share price decline to JP¥3,315, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 17x in the Leisure industry in Japan. Total returns to shareholders of 134% over the past three years. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS JP¥56.28 (vs JP¥26.87 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥16.8b (up 18% from FY 2019). Net income: JP¥1.05b (up 147% from FY 2019). Profit margin: 6.3% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥3,340, the stock trades at a trailing P/E ratio of 59.3x, up from the previous P/E ratio of 48.8x. Average P/E is 28x in the Leisure industry in Japan. Total returns to shareholders over the past three years are 161%. Is New 90 Day High Low • Mar 15
New 90-day high: JP¥3,340 The company is up 84% from a price of JP¥1,815 on 15 December 2020. Outperformed the Japanese market which is up 9.0% over the last 90 days. Exceeded the Leisure industry, which is down 1.0% over the same period. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 49% share price gain to JP¥3,050, the stock is trading at a trailing P/E ratio of 54.2x, up from the previous P/E ratio of 36.4x. This compares to an average P/E of 27x in the Leisure industry in Japan. Total returns to shareholders over the past three years are 164%. 공시 • Feb 16
Snow Peak, Inc., Annual General Meeting, Mar 26, 2021 Snow Peak, Inc., Annual General Meeting, Mar 26, 2021. Reported Earnings • Feb 14
Full year 2020 earnings released: EPS JP¥56.28 (vs JP¥26.87 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥16.8b (up 18% from FY 2019). Net income: JP¥1.05b (up 147% from FY 2019). Profit margin: 6.3% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Over the next year, revenue is forecast to grow 9.6%, compared to a 12% growth forecast for the Leisure industry in Japan. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,062, the stock is trading at a trailing P/E ratio of 78.3x, up from the previous P/E ratio of 67.7x. This compares to an average P/E of 33x in the Leisure industry in Japan. Total returns to shareholders over the past three years are 47%. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥2,062 The company is up 7.0% from its price of JP¥1,931 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥153 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of JP¥12.50 Per Share Will be paid on the 30th of March to those who are registered shareholders by the 29th of December. The trailing yield of 0.7% is below the top quartile of Japanese dividend payers (3.0%), and is lower than industry peers (1.3%). 공시 • Dec 19
Snow Peak, Inc. to Report Fiscal Year 2020 Results on Feb 12, 2021 Snow Peak, Inc. announced that they will report fiscal year 2020 results on Feb 12, 2021 공시 • Oct 10
Snow Peak, Inc. to Report Q3, 2020 Results on Nov 12, 2020 Snow Peak, Inc. announced that they will report Q3, 2020 results on Nov 12, 2020