Si è verificato un errore durante il caricamento della pagina.
Il nostro team è stato avvisato ma contattaci tramite il Widget assistenza email se il problema persiste.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 6,6x - 7,3x | 6,9x |
| Selected Fwd EBITDA Multiple | 6,9x - 7,6x | 7,3x |
| Fair Value | Rp229,12 - Rp260,65 | Rp244,89 |
| Upside | 1,4% - 15,3% | 8,4% |
| Benchmarks | Ticker | Full Ticker |
| PT Indocement Tunggal Prakarsa Tbk | INTP | IDX:INTP |
| PT Solusi Bangun Indonesia Tbk | SMCB | IDX:SMCB |
| PT Cemindo Gemilang Tbk | CMNT | IDX:CMNT |
| PT Superior Prima Sukses Tbk | BLES | IDX:BLES |
| PT Waskita Beton Precast Tbk | WSBP | IDX:WSBP |
| PT Semen Baturaja (Persero) Tbk | SMBR | IDX:SMBR |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| INTP | SMCB | CMNT | BLES | WSBP | SMBR | ||
| IDX:INTP | IDX:SMCB | IDX:CMNT | IDX:BLES | IDX:WSBP | IDX:SMBR | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 1.3% | 2.2% | -4.2% | NM- | NM- | 1.8% | |
| 3Y CAGR | 4.7% | -4.1% | -12.6% | 30.0% | NM- | 4.2% | |
| Latest Twelve Months | 7.9% | -10.4% | -32.6% | -5.9% | 65.5% | 2.6% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 19.0% | 18.1% | 19.5% | 21.0% | -50.2% | 21.1% | |
| Prior Fiscal Year | 17.6% | 17.1% | 18.3% | 22.7% | -23.1% | 20.5% | |
| Latest Fiscal Year | 18.4% | 16.0% | 13.4% | 21.7% | -6.0% | 20.5% | |
| Latest Twelve Months | 18.4% | 16.0% | 13.4% | 19.6% | -6.0% | 20.5% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.82x | 0.76x | 2.62x | 1.41x | 2.08x | 1.41x | |
| EV / LTM EBITDA | 4.5x | 4.7x | 19.6x | 7.2x | -34.6x | 6.8x | |
| EV / LTM EBIT | 6.5x | 7.3x | 60.2x | 11.0x | -10.7x | 12.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | -34.6x | 4.7x | 19.6x | ||||
| Historical EV / LTM EBITDA | 6.8x | 14.0x | 40.1x | ||||
| Selected EV / LTM EBITDA | 6.6x | 6.9x | 7.3x | ||||
| (x) LTM EBITDA | 429,718 | 429,718 | 429,718 | ||||
| (=) Implied Enterprise Value | 2,819,777 | 2,968,186 | 3,116,595 | ||||
| (-) Non-shareholder Claims * | (699,164) | (699,164) | (699,164) | ||||
| (=) Equity Value | 2,120,613 | 2,269,022 | 2,417,431 | ||||
| (/) Shares Outstanding | 9,932.5 | 9,932.5 | 9,932.5 | ||||
| Implied Value Range | 213.50 | 228.44 | 243.39 | ||||
| FX Rate: IDR/IDR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 213.50 | 228.44 | 243.39 | 226.00 | |||
| Upside / (Downside) | -5.5% | 1.1% | 7.7% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | INTP | SMCB | CMNT | BLES | WSBP | SMBR | |
| Enterprise Value | 15,269,038 | 8,972,728 | 23,170,656 | 2,084,725 | 3,919,765 | 2,943,916 | |
| (+) Cash & Short Term Investments | 4,496,547 | 150,342 | 660,628 | 23,901 | 205,754 | 29,843 | |
| (+) Investments & Other | 260,522 | 9,614 | 40,421 | 0 | 0 | 25 | |
| (-) Debt | (2,438,744) | (2,142,663) | (8,822,646) | (508,111) | (3,315,651) | (729,056) | |
| (-) Other Liabilities | 0 | 0 | (321,126) | (278) | 0 | 24 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 17,587,363 | 6,990,021 | 14,727,933 | 1,600,237 | 809,869 | 2,244,753 | |
| (/) Shares Outstanding | 3,350.0 | 9,019.4 | 17,125.5 | 8,890.2 | 53,991.2 | 9,932.5 | |
| Implied Stock Price | 5,250.00 | 775.00 | 860.00 | 180.00 | 15.00 | 226.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 5,250.00 | 775.00 | 860.00 | 180.00 | 15.00 | 226.00 | |
| Trading Currency | IDR | IDR | IDR | IDR | IDR | IDR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |