Deep-dive: Philippine Seven (SEVN PM)

Convenience store operator at 13x P/E

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Deep-dive: Philippine Seven (SEVN PM)

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Disclaimer: I am not licensed or regulated by the Monetary Authority of Singapore, and I am not a financial adviser. This post reflects my personal opinions and is provided for informational purposes only. Nothing in it is a recommendation or an offer to buy, sell or hold any security, and it does not constitute financial, investment or any other form of advice. Nothing here takes into account your investment objectives, financial situation or particular needs. Investing involves substantial risk, including the complete loss of capital. Before making any investment decision, do your own research and consult a financial adviser licensed by the Monetary Authority of Singapore. Any estimates, forecasts or forward-looking figures are my own unless stated otherwise. They rest on assumptions that may prove wrong, and actual outcomes may differ materially. As of 6 September 2026, I do not hold a position in Philippine Seven (SEVN PM). This disclosure reflects my position on the date stated and will not be updated if it changes. I receive no compensation from any company mentioned in this post, nor from any broker, distributor, platform, fund, publication or product issuer. My revenue comes solely from reader subscriptions to Asian Century Stocks. Michael Fritzell, published by Delante Media Pte Ltd.

The 7-Eleven convenience store chain was originally created in Dallas, Texas. When the chain faced bankruptcy in the early 1990s, Japan's Ito-Yokado acquired it and later renamed the combined group Seven & i (3382 JP – US$28 billion).

Today, there are over 85,000 "7-Eleven" stores worldwide. These stores offer fresh food, beverages and everyday items in areas with high foot traffic and stay open around the clock. While prices in 7-Eleven stores tend to be higher than in typical supermarkets, they do offer added convenience.

The vast majority of 7-Eleven stores are not run by Seven & I, however. Instead, area licensees hold country-level rights to run the actual stores. For example, CP All (CPALL TB – US$13 billion) is the exclusive 7-Eleven master franchisee in Thailand, and President Chain Store (2912 TT – US$7.1 billion) is the exclusive 7-Eleven master franchisee in Taiwan. In return for exclusivity and the use of the 7-Eleven brand name, they pay royalties to Seven & I's US subsidiary.