Asahi Group Holdings, Ltd.

TSE-2502

Basic

Market Cap
¥2,974.2B
EV
¥4,498.54B
Shares Out
506.68M
Revenue
¥2,829.37B
Employees
28,639

Margins

Gross
36.18%
EBITDA
14.25%
Operating
8.88%
Pre-Tax
8.65%
Net
5.94%
FCF
8.38%

Returns (5Yr Avg)

ROA
3.43%
ROTA
-11.47%
ROE
8.99%
ROCE
7.28%
ROIC
3.53%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
¥6,975.67
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
¥77.06B
Net Debt
¥1,508.77B
Debt/Equity
0.63
EBIT/Interest
18.15

Growth (CAGR)

Rev 3Yr
10.88%
Rev 5Yr
6.07%
Rev 10Yr
4.93%
Dil EPS 3Yr
10.92%
Dil EPS 5Yr
0.04%
Dil EPS 10Yr
9.57%
Rev Fwd 2Yr
4.41%
EBITDA Fwd 2Yr
6.81%
EPS Fwd 2Yr
15.32%
EPS LT Growth Est
15.9%

Dividends

Yield
—
Payout
36.51%
DPS
¥121
DPS Growth 3Yr
4.51%
DPS Growth 5Yr
4.1%
DPS Growth 10Yr
10.9%
DPS Growth Fwd 2Yr
16.43%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Total Revenues						2,089,048	2,027,762	2,236,076	2,511,108	2,769,091	2,829,370
Total Revenues % Chg.						-1.5%	-2.9%	10.3%	12.3%	10.3%	10.1%
Cost of Goods Sold, Total						1,297,302	1,283,150	1,383,195	1,589,272	1,770,157	1,805,829
Gross Profit						791,746	744,612	852,881	921,836	998,934	1,023,541
Selling General & Admin Expenses, Total						523,287	515,954	567,302	608,571	659,982	680,634
Provision for Bad Debts			—	—	—	—	—	—	—	—	—
R&D Expenses	—	—		—	—	—	—	—	—	—	—
Depreciation & Amortization						55,487	60,835	67,638	69,447	75,270	75,270
Amortization of Goodwill and Intangible Assets			—	—	—	—	—	—	—	—	—
Other Operating Expenses	—	—				7,850	25,676	23,683	17,819	12,934	16,344
Other Operating Expenses, Total						586,624	602,465	658,623	695,837	748,186	772,248
Operating Income						205,122	142,147	194,258	225,999	250,748	251,293
Interest Expense, Total						-7,390	-11,164	-12,700	-12,306	-14,269	-13,842
Interest And Investment Income						3,103	3,536	2,880	2,656	7,449	9,472
Net Interest Expenses						-4,287	-7,628	-9,820	-9,650	-6,820	-4,370
Income (Loss) On Equity Invest.						872	285	687	667	875	759
Currency Exchange Gains (Loss)		—				2,369	1,863	1,515	-228	-1,305	-1,305
Other Non Operating Income (Expenses)						2,541	1,831	-1,683	-520	6,264	6,264
EBT, Excl. Unusual Items						206,617	138,498	184,957	216,268	249,762	252,641
Gain (Loss) On Sale Of Investments						298	-2,300	—	—	—	—
Gain (Loss) On Sale Of Assets						-3,926	1,839	31,084	9,540	-3,564	-3,564
Asset Writedown						-5,598	-12,637	-16,216	-19,816	-4,328	-4,328
Other Unusual Items			—	—	—	—	—	—	—	—	—
EBT, Incl. Unusual Items						197,391	125,400	199,825	205,992	241,870	244,749
Income Tax Expense						56,100	32,815	46,003	54,275	75,840	74,190
Earnings From Continuing Operations						141,291	92,585	153,822	151,717	166,030	170,559
Minority Interest						916	241	-322	-162	-1,957	-2,625
Net Income						142,207	92,826	153,500	151,555	164,073	167,934
Net Income to Common Incl Extra Items						142,207	92,826	153,500	151,555	164,073	167,934
Net Income to Common Excl. Extra Items						142,207	92,826	153,500	151,555	164,073	167,934
Total Shares Outstanding						458.1	506.7	506.7	506.7	506.7	506.7
Weighted Avg. Shares Outstanding						458.1	472.4	506.7	506.7	506.7	506.7
Weighted Avg. Shares Outstanding Dil						458.1	472.4	506.8	506.8	506.8	506.8
EPS						310.4	196.5	302.9	299.1	323.8	331.4
EPS Diluted						310.4	196.5	302.9	299.1	323.8	331.4
EBITDA						318,158	265,424	329,073	366,418	398,740	403,240
Effective Tax Rate						28.4%	26.2%	23%	26.3%	31.4%	30.3%