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

<ul>
<li>We attended the <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> conference call for H1 FY23. Management was upbeat and guided 30% top/bottom line growth for FY23 ( up from 20% in Q1 FY23)</li>
<li>The company reported its highest-ever quarterly systemwide sales of 4.6 bn pesos ( up 29% YoY) due to network expansion, dine-in recovery, and, to a certain extent, price hikes.</li>
<li>Trading at a 12.9x/9.9x FY23e/24e PE, the stock is cheap, and growth of 20% CAGR over the next 3-4 years is not being factored in. </li>
</ul>


We attended the Shakey's Pizza (PIZZA PM) conference call for H1 FY23. Management was upbeat and guided 30% top/bottom line growth for FY23 ( up from 20% in Q1 FY23)
The company reported its highest-ever quarterly systemwide sales of 4.6 bn pesos ( up 29% YoY) due to network expansion, dine-in recovery, and, to a certain extent, price hikes.
Trading at a 12.9x/9.9x FY23e/24e PE, the stock is cheap, and growth of 20% CAGR over the next 3-4 years is not being factored in. 


Shakey's Pizza: Q2 2023 Stellar, Increasing Guidance to 30% YoY Top/Bottomline Growth

Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

Thematic (Sector/Industry)

<ul>
<li>I spent the past few days in Manila, the capital of the Philippines.</li>
<li>Since Southeast Asia’s borders opened up in 2022, it’s become easier to travel across the region.</li>
<li>Not only am I now able to better understand the companies in my coverage universe. I’m also able to pass on any insights to you.</li>
</ul>


I spent the past few days in Manila, the capital of the Philippines.
Since Southeast Asia’s borders opened up in 2022, it’s become easier to travel across the region.
Not only am I now able to better understand the companies in my coverage universe. I’m also able to pass on any insights to you.


<ul>
<li>It's barely three weeks since the annual results in April, and now <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> / <a href="https://www.smartkarma.com/entities/the-keepers-holdings-inc" target="_blank" data-smartkarma-citation="entities:23003:1" rel="noopener">The Keepers Holdings (KEEPR PM)</a> will declare their Q1 2023 results mid-May. </li>
<li>Both results are expected around the 14th/15th of May, with a confirmation of <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> holding its post-results call on the 17th of May. </li>
<li>We expect stellar Q1 results and good guidance for 2023 for both companies. </li>
</ul>


It's barely three weeks since the annual results in April, and now Shakey's Pizza (PIZZA PM) / The Keepers Holdings (KEEPR PM) will declare their Q1 2023 results mid-May. 
Both results are expected around the 14th/15th of May, with a confirmation of Shakey's Pizza (PIZZA PM) holding its post-results call on the 17th of May. 
We expect stellar Q1 results and good guidance for 2023 for both companies. 


Shakeys Pizza/Keepers Holdings Q1 2023 Results: What to Expect?

<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> is on the cusp of reporting a stellar Q4 2022. The stock trades at 16.2x FY22e/10.4x FY23e, with massive scope for upgrades from the street.</li>
<li>With the addition of brands like Potato Corner, Peri-Peri, and R&amp;B Tea, the company has sustainably solidified its scope for mid-teens CAGR growth from 2023 onwards.</li>
<li>The company continues to lower its leverage, and net-debt equity was 0.75x in Q3 2022 as cash generation from its operations solidified the balance sheet. </li>
</ul>



Shakey's Pizza (PIZZA PM)  is on the cusp of reporting a stellar Q4 2022. The stock trades at 16.2x FY22e/10.4x FY23e, with massive scope for upgrades from the street.
With the addition of brands like Potato Corner, Peri-Peri, and R&amp;B Tea, the company has sustainably solidified its scope for mid-teens CAGR growth from 2023 onwards.
The company continues to lower its leverage, and net-debt equity was 0.75x in Q3 2022 as cash generation from its operations solidified the balance sheet. 


Shakey's Pizza: Brace Yourselves For An Epic Q4 2022

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>DPC Dash aims to raise around US$100m in its Hong Kong IPO. </li>
<li>The company is the exclusive master franchisee for Domino’s Pizza in China, HK and Macau. DPC operated 562 stores across 13 cities, as of Nov 2022.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>


DPC Dash aims to raise around US$100m in its Hong Kong IPO. 
The company is the exclusive master franchisee for Domino’s Pizza in China, HK and Macau. DPC operated 562 stores across 13 cities, as of Nov 2022.
In this note, we will talk about the not-so-positive aspects of the deal.


DPC Dash Pre-IPO - The Negatives - Lags the Leader, Remains Loss Making

Philippines

Shakeys Pizza Asia Ventures Inc operates Shakey's pizza chain of full-service restaurant in the Philippines 

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Shakey's Pizza (PIZZA PM)

Shakey's Pizza: Q2 2023 Stellar, Increasing Guidance to 30% YoY Top/Bottomline Growth

Shakeys Pizza trades at a 12.9x/9.9x FY23e/24e PE, the stock is cheap, and growth of 20% CAGR over the next 3-4 years is not being factored in....

Sameer Taneja

Travel notes: Manila

I spent the past few days in Manila, the capital of the Philippines. Since Southeast Asia’s borders opened up in 2022, it’s become easier to travel...

Asian Century Stocks

Shakeys Pizza/Keepers Holdings Q1 2023 Results: What to Expect?

Shakey's Pizza and Keepers Holdings declare Q1 2023 results next week. We discuss what to expect from the results, current valuations and summarize...

Sameer Taneja

Shakey's Pizza: Brace Yourselves For An Epic Q4 2022

Shakey's Pizza (PIZZA PM) is on the cusp of reporting a stellar Q4 2022. The stock trades at 16.2x FY22e/10.4x FY23e, with massive scope for...

Sameer Taneja

DPC Dash Pre-IPO - The Negatives - Lags the Leader, Remains Loss Making

DPC Dash, Domino's Pizza's franchisee in China, aims to raise around US$100m in its Hong Kong IPO. In this note, we talk about the not so positive...

Sumeet Singh

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