Qualitative assessment:

1. General company information

Jollibee Foods Corporation (JFC) was incorporated on January 11, 1978. The
Company's principal business is the development, operation and franchising of quick-
service restaurants (QSR) under the trade names "Jollibee", "Chowking", "Greenwich",
"Red Ribbon", "Mang Inasal", and "Burger King". JFC also has subsidiaries and affiliates
which develop and operate its international brands, "Yonghe King", "Hong Zhuang
Yuan", "Highlands Coffee", "Pho 24", "Smashburger" and "Dunkin' Donuts".

Aside from the subsidiaries that develop and operate the Company's QSR trade names,
JFC wholly owns Freemont Foods Corporation, which operates Jollibee stores in
Visayas and Mindanao, and Grandworth Resources Corporation, a real estate
company which owns or leases some of the properties used as store sites.

By the end of 2017, there were 1,062 Jollibee stores nationwide, of which 530 were
franchised and 532 are Company-owned. On international operations, Jollibee had
198 stores with 37 stores in the US, two in Canada, 98 in Vietnam, 15 in Brunei, eight
in Hong Kong, five in Singapore, and 33 in the Middle East.

Source: SEC Form 17-A (2017)

2. Products/ services
Jollibee Foods offer burgers, chicken, spaghetti, palabok, rice meals, sides, desserts,
drinks, fries and breakfast. For its services, it offers 24/7 operating hours delivery
service, and birthday party
3. Substitutes for their products/services
There are many possible substitutes for their products and services. A good example
is Mcdonalds, KFC, which are mostly fast food that also offers the same products.
4. Market share
The price of the share is Php 273 as of Aug 20, 2018, 3:28PM. The volume of the
company is 403, 650.
5. Barriers to entry
There are many barriers to entry due to the fact that there are many existing fast food
restaurants that almost serve the same products, only the branding is different.
Therefore there are many barriers to enter the market
6. Management team
Name Age Since Current Position

Tony Tan Caktiong 65 2014 Chairman of the Board

Ernesto Tanmantiong 59 2014 President, Chief Executive Officer, Director

Ysmael Baysa 61 Chief Finance Officer, Compliance Officer

Justo Alano 52 2016 President - Jolilbee Business

Shirley Chang President of JFC China

Albert Cuadrante 46 2016 President of Greenwich Business

Carl Tancaktiong Chairman of JFC China

Rowel Vijandre 47 2015 President of Chowking Business, Philippines

Karen Zhao Managing Director of Dunkin’ Donuts China Business

Daniel Rafael 45 2013 Chief Marketing Officer

Ramon Gomez

Valerie Amante 43 Vice President, Assistant Corporate Secretary, Head -

Corporate Legal and Corporate Ethics

Lorna Atun Assistant Vice President - Corporate Audit

Anastacia Masancay 63 2015 Vice President - Special Projects

Chuan Hua Yang 50 2008 Vice President - Corporate Research and Development

Joan Aquino 52 2014 General Manager - Buger King Business, Philippines

Maribeth Dela Cruz 52 General Manager - Philippine Brands, North America

Zinnia Carmencita Rivera 56 2013 General Manager - Red Ribbon Business

Jose Alexander Subido 2016 General Manager - Mang Inasal Business

Shin-Min Tsai General Manager of Happy Bee Foods Processing Pte.,

Ltd.

Joseph Tanbuntiong 54 2016 Treasurer, Head of Country Business Group for

Philippines, Director

Carlson Choi Chief Digital Officer - International Business

Dennis Flores 54 Head of International Markets - EMEAA

Jose Ma. Minana 53 2016 Head of Country Business Group, North America

Susana Tanmantiong 59 2013 Chief Procurement Officer

Fernando Yu 50 2016 Chief Operations Support Officer

Untiong Tan 64 2016 Chief Real Estate Officer, Corporate Secretary, Director

Monico Jacob 73 2018 Lead Independent Director

Cho Sit Ang 68 1978 Director

Poe Eng Chua 70 1978 Director

 Artemio Panganiban 82 2012 Director

Cezar Consing 59 2010 Independent Director

Valuation (use ms excel to compute for this) :

1. Type of Dividend Discount Model your group used (a. zero-growth; b. constant-growth;
c. supernormal growth) and the reason for using it.

If you are using either the zero-growth or the constant growth, then your

paper should have the following:

YEAR DIVIDEND TYPE AMOUNT EX-DIVIDEND DATE DECLARATION DATE RECORD DATE

2017 Cash Dividends PHP 1.18 11/22/2017 11/10/2017 11/27/2017

Cash Dividends PHP 1.00 4/18/2017 4/5/2017 4/21/2017

2016 Cash Dividends PHP 1.00 11/23/2016 11/11/2016 11/28/2016

Cash Dividends PHP 0.86 4/18/2016 4/6/2016 4/21/2016

2015 Cash Dividends PHP 0.97 11/20/2015 11/9/2015 11/25/2015

Cash Dividends PHP 0.80 5/4/2015 4/8/2015 5/7/2015

2014 Cash Dividends PHP 0.89 11/24/2014 11/12/2014 11/27/2014

Cash Dividends PHP 0.75 5/5/2014 4/7/2014 5/8/2014

2013 Cash Dividends PHP 0.71 11/26/2013 11/13/2013 11/29/2013

Cash Dividends PHP 0.65 5/2/2013 4/11/2013 5/7/2013

Special Cash Dividends PHP 2.00 9/16/2013 8/6/2013 9/19/2013

A. Cash dividend payment history

B. Discount rate that your group used to value the company and the reason for using it
C. Growth rate that your group used to value the company and the reason for using it.
D. Estimated fair /intrinsic value of the stock using the type of Dividend Discount Model
used.
E. Group recommendation (Buy , Sell or Do Nothing and reason why)