In today’s briefing:
- ECM Weekly (5th Mar 2023) – Japan Post Bank, Kansai, Vanke, Otsuka, SBI Sumishin, Lu DaoPei, NST, JF
- Dollar Tree Inc.: Major Drivers
- Splunk Inc.: Major Drivers
ECM Weekly (5th Mar 2023) – Japan Post Bank, Kansai, Vanke, Otsuka, SBI Sumishin, Lu DaoPei, NST, JF
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- On the IPO front, there were two deals launched this week.
- For placements, Japan Post Bank (7182 JP)‘s planned selldown by Japan Post Holdings (6178 JP) came earlier than expected.
Dollar Tree Inc.: Major Drivers
- Dollar Tree maintained its momentum in the fourth quarter and delivered an all-around beat.
- Operational income climbed 6.8% to $618.1 million, or 8% of total revenue, and the operating margin fell by 20 basis points.
- Inventory increased by 24.8%, owing mostly to unit growth from early spring 2023 merchandise receipts, Family Dollar combo expansion and new store unit growth, and cost growth from product inflation.
Splunk Inc.: Major Drivers
- Splunk completed the year on a positive note and delivered an all-around beat while exceeding its forecasted targets for revenue, total ARR, cloud ARR, operating margin, and free cash flow.
- In Q4, they increased overall ARR by 18% year on year to $3.674 billion.
- In Q4, Splunk secured major deals against a large enterprise competitor by demonstrating that adequate security, cloud migration, and pricing are insufficient.
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