DB:9CB

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Executive Summary

Calbee, Inc. engages in the production and sale of snacks and other food products in Japan and internationally.


Snowflake Analysis

Excellent balance sheet with questionable track record.


Similar Companies

Share Price & News

How has Calbee's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 9CB has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.7%

9CB

0.5%

DE Food

0.7%

DE Market


1 Year Return

-1.6%

9CB

3.3%

DE Food

3.9%

DE Market

Return vs Industry: 9CB matched the German Food industry which returned -1.5% over the past year.

Return vs Market: 9CB underperformed the German Market which returned 3% over the past year.


Shareholder returns

9CBIndustryMarket
7 Day1.7%0.5%0.7%
30 Day0.8%2.3%1.4%
90 Day-2.4%19.4%17.3%
1 Year0.08%-1.6%4.8%3.3%6.2%3.9%
3 Year-23.0%-26.4%-2.1%-7.9%1.8%-6.2%
5 Year-32.5%-36.7%17.4%7.8%9.3%-5.4%

Price Volatility Vs. Market

How volatile is Calbee's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Calbee undervalued compared to its fair value and its price relative to the market?

0.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 9CB (€24.4) is trading below our estimate of fair value (€24.63)

Significantly Below Fair Value: 9CB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 9CB is poor value based on its PE Ratio (22.7x) compared to the XE Food industry average (18.7x).

PE vs Market: 9CB is poor value based on its PE Ratio (22.7x) compared to the German market (21x).


Price to Earnings Growth Ratio

PEG Ratio: 9CB is poor value based on its PEG Ratio (12.1x)


Price to Book Ratio

PB vs Industry: 9CB is overvalued based on its PB Ratio (2.4x) compared to the DE Food industry average (2.1x).


Next Steps

Future Growth

How is Calbee forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

1.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 9CB's forecast earnings growth (1.9% per year) is above the savings rate (0.2%).

Earnings vs Market: 9CB's earnings (1.9% per year) are forecast to grow slower than the German market (22.4% per year).

High Growth Earnings: 9CB's earnings are forecast to grow, but not significantly.

Revenue vs Market: 9CB's revenue (1.7% per year) is forecast to grow slower than the German market (6% per year).

High Growth Revenue: 9CB's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 9CB's Return on Equity is forecast to be low in 3 years time (10.4%).


Next Steps

Past Performance

How has Calbee performed over the past 5 years?

5.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 9CB has high quality earnings.

Growing Profit Margin: 9CB's current net profit margins (6.9%) are lower than last year (7.8%).


Past Earnings Growth Analysis

Earnings Trend: 9CB's earnings have grown by 5.2% per year over the past 5 years.

Accelerating Growth: 9CB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 9CB had negative earnings growth (-9.7%) over the past year, making it difficult to compare to the Food industry average (-2.8%).


Return on Equity

High ROE: 9CB's Return on Equity (10.1%) is considered low.


Next Steps

Financial Health

How is Calbee's financial position?


Financial Position Analysis

Short Term Liabilities: 9CB's short term assets (¥119.7B) exceed its short term liabilities (¥36.6B).

Long Term Liabilities: 9CB's short term assets (¥119.7B) exceed its long term liabilities (¥8.7B).


Debt to Equity History and Analysis

Debt Level: 9CB's debt to equity ratio (0.5%) is considered satisfactory.

Reducing Debt: 9CB's debt to equity ratio has increased from 0.3% to 0.5% over the past 5 years.

Debt Coverage: 9CB's debt is well covered by operating cash flow (4644%).

Interest Coverage: 9CB earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Calbee current dividend yield, its reliability and sustainability?

1.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 9CB's dividend (1.68%) is higher than the bottom 25% of dividend payers in the German market (1.25%).

High Dividend: 9CB's dividend (1.68%) is low compared to the top 25% of dividend payers in the German market (3.85%).


Stability and Growth of Payments

Stable Dividend: 9CB has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 9CB's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.1%), 9CB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Shuji Ito (63yo)

2.08yrs

Tenure

JP¥104,000,000

Compensation

Mr. Shuji Ito has been the President, Representative Director at CALBEE, Inc. since 2009 and serves as Chief Executive Officer since June 20, 2018. Mr. Ito joined CALBEE, Inc. in 1979. He served as Executi ...


CEO Compensation Analysis

Compensation vs Market: Shuji's total compensation ($USD0.00) is below average for companies of similar size in the German market ($USD2.59M).

Compensation vs Earnings: Shuji's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Shuji Ito
President2.08yrsJP¥104.00m0.054% ¥1.8m
Koichi Kikuchi
CFO, Senior Managing Exec. Officer1.08yrsno data0.00037% ¥12.2k
Makoto Ehara
COO, EVP & Director1.08yrsno data0.00067% ¥22.0k
Chisa Hayakawa
Executive Officer and General Manager of Finance & Accountingno datano datano data
Kenichi Ono
Executive Officer & GM of Technology Departmentno datano datano data
Shigeru Komuro
Executive Officer & General Manager of Information Systems Departmentno datano datano data
Yumiko Okafuji
Executive Officerno datano datano data
Tomoko Fukuyama
Executive Officer and General Manager of Corporate Communications & Materials Business Departmentno datano datano data
Kazuya Tasaki
Managing Executive Officer and President of Sales & Marketingno datano datano data
Masako Takeda
Managing Executive Officerno datano datano data

2.1yrs

Average Tenure

Experienced Management: 9CB's management team is considered experienced (2.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Shuji Ito
President2.08yrsJP¥104.00m0.054% ¥1.8m
Koichi Kikuchi
CFO, Senior Managing Exec. Officer1.08yrsno data0.00037% ¥12.2k
Makoto Ehara
COO, EVP & Director1.08yrsno data0.00067% ¥22.0k
Yoshihiko Miyauchi
Independent Outside Director3.5yrsno datano data
Yuzaburo Mogi
Independent Outside Director11.5yrsno datano data
Takahisa Takahara
Independent Outside Director5.5yrsno datano data
Akira Matsumoto
Senior Chairman2.08yrsJP¥104.00mno data
Tadashi Ishida
Independent Audit & Supervisory Board Member9.5yrsno datano data
Fukushima Atsuko
Independent Outside Director5.5yrsno data0.00037% ¥12.2k
Sylvia Dong
Independent Outside Director0.083yrno datano data

4.5yrs

Average Tenure

73yo

Average Age

Experienced Board: 9CB's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Calbee, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Calbee, Inc.
  • Ticker: 9CB
  • Exchange: DB
  • Founded: 1949
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: JP¥397.417b
  • Listing Market Cap: JP¥3.290b
  • Shares outstanding: 133.68m
  • Website: https://www.calbee.com

Number of Employees


Location

  • Calbee, Inc.
  • Marunouchi Trust Tower Main
  • 22nd Floor
  • Tokyo
  • 100-0005
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2229TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYMar 2011
CBCF.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDMar 2011
9CBDB (Deutsche Boerse AG)YesCommon SharesDEEURMar 2011
CLBE.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDSep 2017

Biography

Calbee, Inc. engages in the production and sale of snacks and other food products in Japan and internationally. It offers potato-based, flour-based, corn-and bean-based, and other snacks, as well as cereals. The company markets its products under the Potato Chips, Jagarico, Jagabee, Jaga Pokkuru, Kappa Ebisen, Sapporo Potato, Kata-age Potato, Pizza Potato Chips, Sayaendo, Jaxx, and Frugra brands. Calbee, Inc. was founded in 1949 and is headquartered in Tokyo, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/10 21:10
End of Day Share Price2020/07/10 00:00
Earnings2020/03/31
Annual Earnings2020/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.