Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

DPC Dash IPO Valuation: Looks Expensive Cf. Yum China & Dominos Master Franchisees in Other Regions

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dpc-dash-ltd" target="_blank" data-smartkarma-citation="entities:36556:1" rel="noopener">DPC Dash (1405 HK)</a> is the exclusive master franchisee of Domino’s Pizza in mainland China, Hong Kong and Macau with around 546 stores as of 9M2022.</li>
<li>With Domino’s trailing Pizza Hut in the Chinese market, we think DPC Dash doesn’t deserve to trade on par with other leading Domino’s Master Franchisees around the world.</li>
<li>Therefore, we see an opportunity to make money on the short side, once the IPO is completed.</li>
</ul>



DPC Dash (1405 HK) is the exclusive master franchisee of Domino’s Pizza in mainland China, Hong Kong and Macau with around 546 stores as of 9M2022.
With Domino’s trailing Pizza Hut in the Chinese market, we think DPC Dash doesn’t deserve to trade on par with other leading Domino’s Master Franchisees around the world.
Therefore, we see an opportunity to make money on the short side, once the IPO is completed.


DPC Dash

DPC Dash IPO: Valuation