Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

Shakey's Pizza Asia Ventures / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shakey-s-pizza-asia-ventures" target="_blank" rel="noopener">Shakey's Pizza (PIZZA PM)</a> reported 3Q FY24 SWS sales/profits up 16%/-3% YoY but guided that FY24 revenues/profits would be up double-digit, implying that Q4FY24 profits &gt;60% YoY at least.</li>
<li>The company guided double-digit revenue/profit growth for FY25 as investments in Potato Corner bear fruit. The company guided growth by &gt;450 stores for both FY24/FY25 (base 2141 outlets for FY23)</li>
<li>The stock trades at 13x FY24 PE, and its double-digit growth in the foreseeable future makes it an exciting investment. </li>
</ul>



Shakey's Pizza (PIZZA PM) reported 3Q FY24 SWS sales/profits up 16%/-3% YoY but guided that FY24 revenues/profits would be up double-digit, implying that Q4FY24 profits &gt;60% YoY at least.
The company guided double-digit revenue/profit growth for FY25 as investments in Potato Corner bear fruit. The company guided growth by &gt;450 stores for both FY24/FY25 (base 2141 outlets for FY23)
The stock trades at 13x FY24 PE, and its double-digit growth in the foreseeable future makes it an exciting investment. 


Shakeys Pizza (PIZZA PM) Q3 2024 Concall: An Ok Result, Implied NPAT Guidance for Q4FY24 >60% YoY

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener"></a><a href="https://www.smartkarma.com/entities/guzman-y-gomez" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez </a> raised around US$221m in its upsized Australian IPO. </li>
<li>GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.</li>
<li>We have looked at the company’s performance  and valuation in our past notes. In this note, we talk about the trading dynamics.</li>
</ul>



Guzman Y Gomez  raised around US$221m in its upsized Australian IPO. 
GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
We have looked at the company’s performance  and valuation in our past notes. In this note, we talk about the trading dynamics.


Guzman Y Gomez IPO Trading - Strong Demand, Not All Shares in Escrow

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez</a> (GYG) now plans to raise US$221m, an increase from its earlier target of US$160m, in its Australian IPO.</li>
<li>GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.</li>
<li>We have looked at the company’s performance in our past notes. In this note, we talk about valuations.</li>
</ul>



Guzman Y Gomez (GYG) now plans to raise US$221m, an increase from its earlier target of US$160m, in its Australian IPO.
GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
We have looked at the company’s performance in our past notes. In this note, we talk about valuations.


Guzman Y Gomez IPO - Peer Comp and Thoughts on Valuations

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez</a> plans to raise around US$160m in its Australian IPO.</li>
<li>GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.</li>
<li>In this note, we look at the company’s prior performance and future prospects.</li>
</ul>



Guzman Y Gomez plans to raise around US$160m in its Australian IPO.
GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
In this note, we look at the company’s prior performance and future prospects.


Guzman Y Gomez IPO - The Positives - Network Growing, Sales Have Outpaced Network Growth

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shakey-s-pizza-asia-ventures" target="_blank" data-smartkarma-citation="entities:23706:1" rel="noopener">Shakey's Pizza (PIZZA PM)</a> reported Q1 FY24 systemwide sales up 15% YoY, but profits down by 15% YoY due to margin compression owing to higher opex costs.</li>
<li>Management stuck to its mid-teens YoY revenue/profit growth guidance, citing that margin expansion will happen in the latter half of the year due to its visibility on costs.</li>
<li>Trading at 13x FY24e PE, with a long runway for growth owing to the success in expanding Potato Corner, we believe the company can be a multi-bagger.</li>
</ul>



Shakey's Pizza (PIZZA PM) reported Q1 FY24 systemwide sales up 15% YoY, but profits down by 15% YoY due to margin compression owing to higher opex costs.
Management stuck to its mid-teens YoY revenue/profit growth guidance, citing that margin expansion will happen in the latter half of the year due to its visibility on costs.
Trading at 13x FY24e PE, with a long runway for growth owing to the success in expanding Potato Corner, we believe the company can be a multi-bagger.


Shakey's Pizza (PIZZA PM) Q1 FY24 Concall: Margin Recovery in H2 FY24

Philippines

Shakey's Pizza Asia Ventures, Inc. is a leading casual dining restaurant chain and food service group in the Philippines. It develops, operates, and franchises a portfolio of brands including Shakey's Pizza, Peri-Peri Charcoal Chicken, R&B Milk Tea, Project Pie, and Potato Corner. The company was founded in 1954 and is headquartered in Paranaque City, Philippines.

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Shakey's Pizza Asia Ventures (PIZZA PM)

Shakeys Pizza (PIZZA PM) Q3 2024 Concall: An Ok Result, Implied NPAT Guidance for Q4FY24 >60% YoY

We summarize the conference call for Shakey's Pizza (PIZZA PM) Q3 FY24 result. We analyze their implied punchy Q4 profit guidance (>60% YoY) in...

Sameer Taneja

Guzman Y Gomez IPO Trading - Strong Demand, Not All Shares in Escrow

Guzman Y Gomez raised around US$221m in its upsized Australian IPO. Demand was said to be strong, as per media reports. In this note, we talk...

Sumeet Singh

Guzman Y Gomez IPO - Peer Comp and Thoughts on Valuations

Guzman Y Gomez (GYG) now plans to raise US$221m, an increase from its earlier target of US$160m, in its Australian IPO. In this note, we undertake...

Sumeet Singh

Guzman Y Gomez IPO - The Positives - Network Growing, Sales Have Outpaced Network Growth

Guzman Y Gomez plans to raise around US$160m in its Australian IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Shakey's Pizza (PIZZA PM) Q1 FY24 Concall: Margin Recovery in H2 FY24

We summarize Shakey's Pizza's Q1 FY24 earnings. We believe the company is on the cusp of increasing its profitability in H2 as its margins expand...

Sameer Taneja

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