Jing-Jan Retail Business Co., Ltd. (2942.TWO)

Industry: Department Stores Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
8247.T	127	Daiwa Co.,Ltd.	104	9.86	9.86	7.15	7.15	-	41.33
601086.SS	128	Gansu Guofang Indu	103	85.93	83.74	48.64	50.52	88.62	83.65
0602.HK	129	Jiahua Stores Hold	97	-	-	6.81	8.08	-	-
600824.SS	130	Shanghai Yimin Com	91	238.38	239.41	83.52	101.03	-	131.06
5907.TW	131	Grand Ocean Retail	91	-	-	10.64	11.97	-	-
2213.HK	132	Yi Hua Holdings Li	91	-	-	-	-	-	-
600738.SS	133	Lanzhou Lishang Gu	88	45.57	49.53	26.25	30.90	18.20	32.97
2942.TWO	134	Jing-Jan Retail Bu	86	4.65	4.65	4.06	4.06	7.13	6.91
600712.SS	135	Nanning Department	82	-	-	-	-	-	-
067830.KS	136	Savezone I&C Corpo	78	9.61	10.69	9.48	11.29	10.71	31.65
3169.T	137	Misawa & Co.,Ltd.	77	44.20	59.94	13.96	17.67	-	28.63
7601.T	138	Poplar Co., Ltd.	76	10.40	10.40	4.68	4.68	3.70	5.70
7506.T	139	HOUSE OF ROSE Co.,	74	-	-	36.67	36.67	-	342.42
000679.SZ	140	Dalian Friendship	72	-	-	-	-	-	-
600857.SS	141	Ningbo Zhongbai Co	71	102.57	87.20	58.02	43.65	235.83	253.29
UFOE.JK	142	PT Damai Sejahtera	65	9.37	7.47	6.76	5.62	19.91	35.10

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	10.40	10.69	10.06	11.63	14.46	35.10
Full Range Median Multiple	44.20	49.53	12.30	14.82	19.06	38.22
Industry Multiple	61.77	62.03	26.05	27.43	62.83	98.58
Market Implied Multiple	4.54	4.54	4.02	4.02	7.05	6.84
Company (2942.TWO) Multiple	4.65	4.65	4.06	4.06	7.13	6.91
(*) Net Income / EBITDA / Revenue	13	13	33	33	19	19
Winsorized Enterprise Value	N/A	N/A	331	383	271	680
Full Range Median Enterprise Value	N/A	N/A	405	488	358	740
(-) Net Debt	75	75	75	75	75	75
Winsorized Equity Value	132	136	257	308	197	605
Full Range Median Equity Value	562	630	330	413	283	665
(/) Shares Outstanding	2	2	2	2	2	2
Winsorized Fair Value	$69.39	$71.35	$134.77	$161.86	$103.32	$317.61
Full Range Median Fair Value	$294.98	$330.54	$173.47	$217.05	$148.67	$349.26
Current Price	$30.30	$30.30	$30.30	$30.30	$30.30	$30.30
Upside / Downside	129.00%	135.48%	344.78%	434.20%	241.00%	948.21%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$48.57	$49.95	$94.34	$113.30	$72.33	$222.33
Buy / Don't Buy	BUY	BUY	BUY	BUY	BUY	BUY