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

Raccoon: Valuation Has Come Down but The Growth Momentum Remains Strong

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 Bottom-Up

Raccoon Holdings, Inc. / Equity Bottom-Up

<p>After a stellar rally (share price is up 861%), <a href="https://www.smartkarma.com/entities/raccoon-holdings-inc" target="_blank" data-smartkarma-citation="entities:4223:1" rel="noopener">Raccoon Holdings, Inc. (3031 JP)</a> is currently trading at a new all-time high FY+2 EV/Sales and FY+2 EV/EBIT of 13.1x and 40.9x respectively. These multiples are 40-50% above the previous peak multiples.</p>
<p>We think Raccoon’s valuation could course correct very soon as the company’s impressive performance during COVID was mostly driven by temporary factors like demand for masks and sterilization products.</p>

After a stellar rally (share price is up 861%), Raccoon Holdings, Inc. (3031 JP) is currently trading at a new all-time high FY+2 EV/Sales and FY+2 EV/EBIT of 13.1x and 40.9x respectively. These multiples are 40-50% above the previous peak multiples.
We think Raccoon’s valuation could course correct very soon as the company’s impressive performance during COVID was mostly driven by temporary factors like demand for masks and sterilization products.

Raccoon: Downside Risks Mount As EV/​Sales Peak

Raccoon Holdings, Inc.

Raccoon: Downside Risks Mount As EV/​Sales Peak

Raccoon: Downside Risks Mount As EV/Sales Peak