Announcement • May 09
S Foods Inc. to Report Q1, 2027 Results on Jul 14, 2026 S Foods Inc. announced that they will report Q1, 2027 results on Jul 14, 2026 Reported Earnings • Apr 15
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥292 (up from JP¥84.28 in FY 2025). Revenue: JP¥472.3b (up 6.2% from FY 2025). Net income: JP¥9.24b (up 246% from FY 2025). Profit margin: 2.0% (up from 0.6% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Apr 14
S Foods Inc., Annual General Meeting, May 22, 2026 S Foods Inc., Annual General Meeting, May 22, 2026. Announcement • Apr 03
S Foods Inc. to Report Fiscal Year 2026 Results on Apr 14, 2026 S Foods Inc. announced that they will report fiscal year 2026 results on Apr 14, 2026 Buy Or Sell Opportunity • Mar 25
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to JP¥3,040. The fair value is estimated to be JP¥2,529, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 35%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Upcoming Dividend • Feb 19
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 26 May 2026. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.9%). Reported Earnings • Jan 15
Third quarter 2026 earnings released: EPS: JP¥84.74 (vs JP¥8.25 in 3Q 2025) Third quarter 2026 results: EPS: JP¥84.74 (up from JP¥8.25 in 3Q 2025). Revenue: JP¥117.6b (up 7.8% from 3Q 2025). Net income: JP¥2.68b (up JP¥2.42b from 3Q 2025). Profit margin: 2.3% (up from 0.2% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jan 15
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to JP¥3,060. The fair value is estimated to be JP¥2,476, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has declined by 43%. Announcement • Jan 14
S Foods Inc. Revises Consolidated Earnings Forecast for the Fiscal Year Ending February 28, 2026 S Foods Inc. revised consolidated earnings forecast for the fiscal year ending February 28, 2026. For the full year, the company expected Net sales of JPY 468,000 million; Operating profit of JPY 8,800 million; Profit attributable to owners of parent of JPY 8,000 million and Basic earnings per share of JPY 252.58 against Net sales of JPY 475,000 million; Operating profit of JPY 7,500 million; Profit attributable to owners of parent of JPY 4,500 million and Basic earnings per share of JPY 142.18 expected previously. Reason for revisions: Net sales are expected to be lower than the initial forecast because the new Aurora plant in the United States, which was planned for the fiscal year ending February 2026, is expected to commence operations in April 2026. On the other hand, operating income, ordinary income, and net income attributable to owners of the parent are expected to exceed the previous forecast because the domestic business performed well and gains on sales of fixed assets and gains on sales of investment securities were recorded as extraordinary income. Declared Dividend • Nov 01
First half dividend of JP¥52.00 announced Shareholders will receive a dividend of JP¥52.00. Ex-date: 26th February 2026 Payment date: 26th May 2026 Dividend yield will be 4.2%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 39% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years. Announcement • Nov 01
S Foods Inc. to Report Q3, 2026 Results on Jan 14, 2026 S Foods Inc. announced that they will report Q3, 2026 results on Jan 14, 2026 Reported Earnings • Oct 15
Second quarter 2026 earnings released: EPS: JP¥65.46 (vs JP¥17.19 in 2Q 2025) Second quarter 2026 results: EPS: JP¥65.46 (up from JP¥17.19 in 2Q 2025). Revenue: JP¥115.2b (up 5.4% from 2Q 2025). Net income: JP¥2.07b (up 281% from 2Q 2025). Profit margin: 1.8% (up from 0.5% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 21
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Announcement • Jul 26
S Foods Inc. to Report Q2, 2026 Results on Oct 14, 2025 S Foods Inc. announced that they will report Q2, 2026 results on Oct 14, 2025 New Risk • Jul 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Declared Dividend • Jun 18
Final dividend of JP¥52.00 announced Shareholders will receive a dividend of JP¥52.00. Ex-date: 28th August 2025 Payment date: 31st October 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. However, EPS has declined by 16% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 26
Full year 2025 earnings released: EPS: JP¥84.28 (vs JP¥287 in FY 2024) Full year 2025 results: EPS: JP¥84.28 (down from JP¥287 in FY 2024). Revenue: JP¥444.5b (up 4.6% from FY 2024). Net income: JP¥2.67b (down 71% from FY 2024). Profit margin: 0.6% (down from 2.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. New Risk • May 05
New major risk - Revenue and earnings growth Earnings have declined by 9.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Paying a dividend despite having no free cash flows. Earnings have declined by 9.4% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.6% net profit margin). Announcement • Apr 29
S Foods Inc. to Report Q1, 2026 Results on Jul 14, 2025 S Foods Inc. announced that they will report Q1, 2026 results on Jul 14, 2025 Reported Earnings • Apr 15
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥84.28 (down from JP¥287 in FY 2024). Revenue: JP¥444.5b (up 4.6% from FY 2024). Net income: JP¥2.67b (down 71% from FY 2024). Profit margin: 0.6% (down from 2.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Apr 10
S Foods Inc. Revises Consolidated Earnings Guidance for the Fiscal Year Ended February 28, 2025 S Foods Inc. revised consolidated earnings guidance for the fiscal year ended February 28, 2025. For the year, the company expects net sales of JPY 445,000 million, operating profit of JPY 5,110 million, profit attributable to owners of parent Of JPY 2,650 million and basic earnings per share of 83.17 compared to previous guidance of net sales of JPY 445,000 million, operating profit of JPY 7,300 million, profit attributable to owners of parent Of JPY 4,200 million and basic earnings per share of 132.70. Reason for revision: Although net sales are generally progressing as expected, under the influence of higher raw material costs and other costs, operating profit, ordinary profit, and profit attributable to owners of parent are expected to fall short of the previous forecast due to difficulties in maintaining earnings as well as the deterioration in earnings resulting from higher live cattle prices in the United States and the recording of a loss on valuation of inventories due to the impact of weak sales to China in New Zealand. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 27 May 2025. Payout ratio is a comfortable 63% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.8%). Announcement • Feb 03
S Foods Inc. to Report Fiscal Year 2025 Results on Apr 14, 2025 S Foods Inc. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Apr 14, 2025 Reported Earnings • Jan 15
Third quarter 2025 earnings released: EPS: JP¥8.25 (vs JP¥40.21 in 3Q 2024) Third quarter 2025 results: EPS: JP¥8.25 (down from JP¥40.21 in 3Q 2024). Revenue: JP¥109.2b (up 3.5% from 3Q 2024). Net income: JP¥261.0m (down 80% from 3Q 2024). Profit margin: 0.2% (down from 1.2% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Nov 30
Consensus EPS estimates fall by 39% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥218 to JP¥134 per share. Revenue forecast steady at JP¥445.0b. Net income forecast to grow 79% next year vs 7.9% growth forecast for Food industry in Japan. Consensus price target down from JP¥3,500 to JP¥3,030. Share price was steady at JP¥2,628 over the past week. Declared Dividend • Nov 01
First half dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th February 2025 Payment date: 27th May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (130% earnings payout ratio) nor is it covered by cash flows (333% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 44% to bring the payout ratio under control. EPS is expected to grow by 112% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Oct 29
S Foods Inc. to Report Q3, 2025 Results on Jan 14, 2025 S Foods Inc. announced that they will report Q3, 2025 results on Jan 14, 2025 New Risk • Oct 21
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 130% Cash payout ratio: 333% Dividend yield: 3.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 130% Cash payout ratio: 333% Minor Risk Profit margins are more than 30% lower than last year (0.7% net profit margin). Reported Earnings • Oct 16
Second quarter 2025 earnings released: EPS: JP¥17.19 (vs JP¥109 in 2Q 2024) Second quarter 2025 results: EPS: JP¥17.19 (down from JP¥109 in 2Q 2024). Revenue: JP¥109.3b (up 3.2% from 2Q 2024). Net income: JP¥544.0m (down 84% from 2Q 2024). Profit margin: 0.5% (down from 3.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 22
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 31 October 2024. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,504, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Food industry in Japan. Total loss to shareholders of 19% over the past three years. Price Target Changed • Jul 31
Price target decreased by 13% to JP¥3,500 Down from JP¥4,010, the current price target is provided by 1 analyst. New target price is 17% above last closing price of JP¥2,998. Stock is down 11% over the past year. The company is forecast to post earnings per share of JP¥218 for next year compared to JP¥287 last year. Major Estimate Revision • Jul 31
Consensus EPS estimates fall by 43% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥380 to JP¥218 per share. Revenue forecast steady at JP¥447.3b. Net income forecast to grow 15% next year vs 3.4% growth forecast for Food industry in Japan. Consensus price target down from JP¥4,010 to JP¥3,500. Share price was steady at JP¥2,998 over the past week. Buy Or Sell Opportunity • Jul 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to JP¥2,985. The fair value is estimated to be JP¥3,784, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has declined by 6.8%. For the next 3 years, revenue is forecast to grow by 7.8% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Announcement • Jul 30
S Foods Inc. to Report Q2, 2025 Results on Oct 11, 2024 S Foods Inc. announced that they will report Q2, 2025 results on Oct 11, 2024 Reported Earnings • Jul 16
First quarter 2025 earnings released: EPS: JP¥21.21 (vs JP¥117 in 1Q 2024) First quarter 2025 results: EPS: JP¥21.21 (down from JP¥117 in 1Q 2024). Revenue: JP¥109.6b (up 6.4% from 1Q 2024). Net income: JP¥671.0m (down 82% from 1Q 2024). Profit margin: 0.6% (down from 3.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 5% per year. Declared Dividend • Jun 06
Final dividend increased to JP¥44.00 Dividend of JP¥44.00 is 4.8% higher than last year. Ex-date: 29th August 2024 Payment date: 31st October 2024 Dividend yield will be 3.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 01
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥287 (down from JP¥334 in FY 2023). Revenue: JP¥425.0b (up 6.5% from FY 2023). Net income: JP¥9.07b (down 14% from FY 2023). Profit margin: 2.1% (down from 2.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Food 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 fallen by 4% per year. Announcement • May 03
S Foods Inc. to Report Q1, 2025 Results on Jul 12, 2024 S Foods Inc. announced that they will report Q1, 2025 results on Jul 12, 2024 Announcement • Apr 16
S Foods Inc., Annual General Meeting, May 24, 2024 S Foods Inc., Annual General Meeting, May 24, 2024. Reported Earnings • Apr 16
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥287 (down from JP¥334 in FY 2023). Revenue: JP¥425.0b (up 6.5% from FY 2023). Net income: JP¥9.07b (down 14% from FY 2023). Profit margin: 2.1% (down from 2.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food 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 fallen by 3% per year. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 27 May 2024. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.7%). Price Target Changed • Feb 01
Price target increased by 8.4% to JP¥4,010 Up from JP¥3,700, the current price target is provided by 1 analyst. New target price is 20% above last closing price of JP¥3,345. Stock is up 14% over the past year. The company is forecast to post earnings per share of JP¥330 for next year compared to JP¥334 last year. Announcement • Jan 31
S Foods Inc. to Report Fiscal Year 2024 Results on Apr 15, 2024 S Foods Inc. announced that they will report fiscal year 2024 results on Apr 15, 2024 Buying Opportunity • Jan 17
Now 20% undervalued Over the last 90 days, the stock is up 5.0%. The fair value is estimated to be JP¥4,036, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 3.4%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Reported Earnings • Jan 14
Third quarter 2024 earnings released: EPS: JP¥40.21 (vs JP¥41.59 in 3Q 2023) Third quarter 2024 results: EPS: JP¥40.21 (down from JP¥41.59 in 3Q 2023). Revenue: JP¥105.4b (up 3.8% from 3Q 2023). Net income: JP¥1.27b (down 3.3% from 3Q 2023). Profit margin: 1.2% (down from 1.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Announcement • Jan 12
S Foods Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending February 29, 2024 S Foods Inc. provided consolidated earnings guidance for the Fiscal Year Ending February 29, 2024. For the period, the company expects Net sales of JPY 420,000 million, Operating profit of JPY 13,500 million, Profit attributable to owners of parent JPY 10,000 million, Basic earnings per share of JPY 316.10. Buying Opportunity • Dec 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.0%. The fair value is estimated to be JP¥4,036, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 3.2%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 9.8% per annum over the same time period. Buying Opportunity • Nov 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.0%. The fair value is estimated to be JP¥4,036, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 3.2%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 9.8% per annum over the same time period. Buying Opportunity • Nov 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.5%. The fair value is estimated to be JP¥4,036, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 3.2%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 9.8% per annum over the same time period. Announcement • Nov 01
S Foods Inc. to Report Q3, 2024 Results on Jan 12, 2024 S Foods Inc. announced that they will report Q3, 2024 results on Jan 12, 2024 Reported Earnings • Oct 13
Second quarter 2024 earnings released: EPS: JP¥109 (vs JP¥75.36 in 2Q 2023) Second quarter 2024 results: EPS: JP¥109 (up from JP¥75.36 in 2Q 2023). Revenue: JP¥105.9b (up 7.8% from 2Q 2023). Net income: JP¥3.46b (up 45% from 2Q 2023). Profit margin: 3.3% (up from 2.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has remained flat. Announcement • Oct 12
S Foods Inc. Announces Dividend for the Second Quarter Ended August 31, 2023, Payable on October 31, 2023; Provides Dividend Guidance for the Fiscal Year Ending February 29, 2024 S Foods Inc. announced dividend of JPY 42.00 per share for the second quarter ended August 31, 2023 compared to JPY 39.00 per share paid a year ago. Scheduled date of commencing dividend payments is October 31, 2023.For the fiscal year ending February 29, 2024, the company expects to pay dividend of JPY 42.00 per share. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥42.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 31 October 2023. Payout ratio is a comfortable 23% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.6%). Announcement • Jul 30
S Foods Inc. to Report Q2, 2024 Results on Oct 12, 2023 S Foods Inc. announced that they will report Q2, 2024 results on Oct 12, 2023 Reported Earnings • Jul 15
First quarter 2024 earnings released: EPS: JP¥117 (vs JP¥106 in 1Q 2023) First quarter 2024 results: EPS: JP¥117 (up from JP¥106 in 1Q 2023). Revenue: JP¥103.0b (up 7.9% from 1Q 2023). Net income: JP¥3.70b (up 11% from 1Q 2023). Profit margin: 3.6% (in line with 1Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Price Target Changed • Jun 02
Price target increased by 12% to JP¥3,700 Up from JP¥3,310, the current price target is provided by 1 analyst. New target price is 18% above last closing price of JP¥3,145. Stock is up 2.9% over the past year. The company is forecast to post earnings per share of JP¥333 for next year compared to JP¥334 last year. Reported Earnings • May 30
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥334 (down from JP¥378 in FY 2022). Revenue: JP¥399.2b (up 11% from FY 2022). Net income: JP¥10.6b (down 12% from FY 2022). Profit margin: 2.6% (down from 3.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 13
S Foods Inc. to Report Q1, 2024 Results on Jul 13, 2023 S Foods Inc. announced that they will report Q1, 2024 results on Jul 13, 2023 Reported Earnings • Apr 16
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥334 (down from JP¥378 in FY 2022). Revenue: JP¥399.2b (up 11% from FY 2022). Net income: JP¥10.6b (down 12% from FY 2022). Profit margin: 2.6% (down from 3.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥39.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Announcement • Feb 03
S Foods Inc. to Report Fiscal Year 2023 Results on Apr 14, 2023 S Foods Inc. announced that they will report fiscal year 2023 results on Apr 14, 2023 Reported Earnings • Jan 14
Third quarter 2023 earnings released: EPS: JP¥41.59 (vs JP¥115 in 3Q 2022) Third quarter 2023 results: EPS: JP¥41.59 (down from JP¥115 in 3Q 2022). Revenue: JP¥101.5b (up 10% from 3Q 2022). Net income: JP¥1.32b (down 64% from 3Q 2022). Profit margin: 1.3% (down from 3.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to JP¥3,740 Down from JP¥4,245, the current price target is an average from 2 analysts. New target price is 30% above last closing price of JP¥2,866. Stock is down 15% over the past year. The company is forecast to post earnings per share of JP¥343 for next year compared to JP¥378 last year. Announcement • Nov 03
S Foods Inc. to Report Q3, 2023 Results on Jan 13, 2023 S Foods Inc. announced that they will report Q3, 2023 results on Jan 13, 2023 Reported Earnings • Oct 15
Second quarter 2023 earnings released: EPS: JP¥75.36 (vs JP¥96.04 in 2Q 2022) Second quarter 2023 results: EPS: JP¥75.36 (down from JP¥96.04 in 2Q 2022). Revenue: JP¥98.3b (up 11% from 2Q 2022). Net income: JP¥2.38b (down 22% from 2Q 2022). Profit margin: 2.4% (down from 3.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Aug 28
S Foods Inc. to Report Q2, 2023 Results on Oct 13, 2022 S Foods Inc. announced that they will report Q2, 2023 results on Oct 13, 2022 Upcoming Dividend • Aug 23
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 31 October 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Price Target Changed • Jul 22
Price target decreased to JP¥3,690 Down from JP¥4,155, the current price target is an average from 2 analysts. New target price is 20% above last closing price of JP¥3,070. Stock is down 11% over the past year. The company is forecast to post earnings per share of JP¥322 for next year compared to JP¥378 last year. Reported Earnings • Jul 15
First quarter 2023 earnings released: EPS: JP¥106 (vs JP¥80.93 in 1Q 2022) First quarter 2023 results: EPS: JP¥106 (up from JP¥80.93 in 1Q 2022). Revenue: JP¥95.5b (up 17% from 1Q 2022). Net income: JP¥3.34b (up 31% from 1Q 2022). Profit margin: 3.5% (up from 3.1% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 1.2%, compared to a 7.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 29
S Foods Inc. to Report Q1, 2023 Results on Jul 13, 2022 S Foods Inc. announced that they will report Q1, 2023 results on Jul 13, 2022 Reported Earnings • May 29
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥378 (up from JP¥315 in FY 2021). Revenue: JP¥358.8b (up 9.6% from FY 2021). Net income: JP¥11.9b (up 20% from FY 2021). Profit margin: 3.3% (up from 3.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 3.8%, compared to a 4.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to JP¥6,100 Up from JP¥4,155, the current price target is provided by 1 analyst. New target price is 108% above last closing price of JP¥2,927. Stock is down 11% over the past year. The company is forecast to post earnings per share of JP¥381 for next year compared to JP¥378 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 10 non-independent directors. Independent Outside Director Shizuko Kamoda was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 16
S Foods Inc., Annual General Meeting, May 24, 2022 S Foods Inc., Annual General Meeting, May 24, 2022. Reported Earnings • Apr 15
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥378 (up from JP¥315 in FY 2021). Revenue: JP¥358.8b (up 9.6% from FY 2021). Net income: JP¥11.9b (up 20% from FY 2021). Profit margin: 3.3% (up from 3.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Over the next year, revenue is forecast to stay flat compared to a 3.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 18
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.6%).