4337 PIA
- Mar 4
- 1 min read
Japan's largest ticket distributor. Operates a 10,000-seat arena in Yokohama. Also hosts events. The company's original business was publishing.
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Japan's largest ticket distributor. Operates a 10,000-seat arena in Yokohama. Also hosts events. The company's original business was publishing.
"PIA 4337 ticketing platform showing op lev inflection, q3 ebit up 150% y/y vs. 24% rev. trades for 4x ev/ebit. ticketing platform alone gross margin > 40%, and likely ebit margin 20%+, diluted by event production.
This sub-5x ev/ebit with 40%+ gpm 10% rev cagr is my sweet spot."
https://x.com/kjnkjp/status/2022860278354924011?s=20