TSE:2384

Stock Analysis Report

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Market Cap

JP¥134.8b

Last Updated

2021/06/11 08:55 UTC

Data Sources

Company Financials +

Executive Summary

SBS Holdings, Inc. engages in the logistics business in Japan and internationally. More Details


Snowflake Analysis

Moderate growth potential with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 2384 is not significantly more volatile than the rest of JP stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 2384's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

6.9%

2384

2.6%

JP Logistics

0.05%

JP Market


1 Year Return

49.3%

2384

33.4%

JP Logistics

22.9%

JP Market

Return vs Industry: 2384 exceeded the JP Logistics industry which returned 33.4% over the past year.

Return vs Market: 2384 exceeded the JP Market which returned 22.9% over the past year.


Shareholder returns

2384IndustryMarket
7 Day6.9%2.6%0.05%
30 Day16.5%2.2%3.8%
90 Day27.3%2.4%0.1%
1 Year51.3%49.3%35.3%33.4%25.6%22.9%
3 Year178.5%165.9%38.1%31.7%16.8%8.8%
5 Year417.3%375.7%76.4%63.3%72.8%53.8%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

22.74x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2384 (¥3420) is trading above our estimate of fair value (¥2083.7)

Significantly Below Fair Value: 2384 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2384 is poor value based on its PE Ratio (22.7x) compared to the JP Logistics industry average (14.8x).

PE vs Market: 2384 is poor value based on its PE Ratio (22.7x) compared to the JP market (16.3x).


Price to Earnings Growth Ratio

PEG Ratio: 2384 is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: 2384 is overvalued based on its PB Ratio (2.6x) compared to the JP Logistics industry average (1.6x).


Future Growth

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

14.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2384's forecast earnings growth (14.5% per year) is above the savings rate (0%).

Earnings vs Market: 2384's earnings (14.5% per year) are forecast to grow faster than the JP market (13.3% per year).

High Growth Earnings: 2384's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2384's revenue (8.8% per year) is forecast to grow faster than the JP market (5.3% per year).

High Growth Revenue: 2384's revenue (8.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2384's Return on Equity is forecast to be low in 3 years time (17.3%).


Past Performance

How has SBS Holdings performed over the past 5 years?

34.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2384 has high quality earnings.

Growing Profit Margin: 2384's current net profit margins (2.1%) are lower than last year (2.7%).


Past Earnings Growth Analysis

Earnings Trend: 2384 has become profitable over the past 5 years, growing earnings by 34.6% per year.

Accelerating Growth: 2384's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2384 had negative earnings growth (-13.4%) over the past year, making it difficult to compare to the Logistics industry average (14.9%).


Return on Equity

High ROE: 2384's Return on Equity (10.2%) is considered low.


Financial Health

How is SBS Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 2384's short term assets (¥105.0B) do not cover its short term liabilities (¥115.9B).

Long Term Liabilities: 2384's short term assets (¥105.0B) exceed its long term liabilities (¥76.9B).


Debt to Equity History and Analysis

Debt Level: 2384's debt to equity ratio (143%) is considered high.

Reducing Debt: 2384's debt to equity ratio has reduced from 208.2% to 143% over the past 5 years.

Debt Coverage: 2384's debt is not well covered by operating cash flow (17.3%).

Interest Coverage: 2384's interest payments on its debt are well covered by EBIT (15.1x coverage).


Balance Sheet


Dividend

What is SBS Holdings's current dividend yield, its reliability and sustainability?

1.02%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2384's dividend (1.02%) isn’t notable compared to the bottom 25% of dividend payers in the JP market (1.32%).

High Dividend: 2384's dividend (1.02%) is low compared to the top 25% of dividend payers in the JP market (2.98%).


Stability and Growth of Payments

Stable Dividend: 2384 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 2384's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23.3%), 2384'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?

17.3yrs

Average management tenure


CEO

Masahiko Kamata (61 yo)

33.25yrs

Tenure

Mr. Masahiko Kamata serves as the Chief Executive Officer and President at SBS Logicom Co., Ltd. Mr. Kamata has been President of TL Logicom Co., Ltd. (formerly Tokyu Logistic Corporation) since September ...


Leadership Team

Experienced Management: 2384's management team is seasoned and experienced (17.3 years average tenure).


Board Members

Experienced Board: 2384's board of directors are considered experienced (5.3 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

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


Key Information

  • Name: SBS Holdings, Inc.
  • Ticker: 2384
  • Exchange: TSE
  • Founded: 1987
  • Industry: Air Freight and Logistics
  • Sector: Transportation
  • Market Cap: JP¥134.841b
  • Shares outstanding: 39.72m
  • Website: https://www.sbs-group.co.jp

Number of Employees


Location

  • SBS Holdings, Inc.
  • Olinas Tower
  • 4-1-3 Taihei
  • Tokyo
  • 130-0012
  • Japan

Listings


Biography

SBS Holdings, Inc. engages in the logistics business in Japan and internationally. It transports products through trucks and train. The company also offers dry, chilled, and frozen logistics services; cust...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/06/11 08:55
End of Day Share Price2021/06/11 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


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.