Er is iets misgegaan bij het laden van deze pagina.
Ons team heeft al een melding ontvangen, maar neem vooral contact op via de widget e-mailondersteuning als het probleem aanhoudt.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM Revenue Multiple | 1,5x - 1,7x | 1,6x |
| Selected Fwd Revenue Multiple | 1,4x - 1,5x | 1,4x |
| Fair Value | Rp725,08 - Rp799,61 | Rp762,35 |
| Upside | 31,8% - 45,4% | 38,6% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| PT Japfa Comfeed Indonesia Tbk | JPFA | IDX:JPFA |
| Thanh Thanh Cong - Bien Hoa Joint Stock Company | SBT | HOSE:SBT |
| PT Charoen Pokphand Indonesia Tbk | CPIN | IDX:CPIN |
| PT Mayora Indah Tbk | MYOR | IDX:MYOR |
| Vinh Hoan Corporation | VHC | HOSE:VHC |
| PT Hanjaya Mandala Sampoerna Tbk | HMSP | IDX:HMSP |
| Select LTM Revenue Multiple | ||||||||
| Benchmark Companies | ||||||||
| JPFA | SBT | CPIN | MYOR | VHC | HMSP | |||
| IDX:JPFA | HOSE:SBT | IDX:CPIN | IDX:MYOR | HOSE:VHC | IDX:HMSP | |||
| Historical Revenue Growth | ||||||||
| 5Y CAGR | 7.5% | 21.7% | 9.7% | 7.6% | 9.8% | 3.2% | ||
| 3Y CAGR | 7.5% | 24.8% | 9.3% | 8.9% | 11.5% | 8.9% | ||
| Latest Twelve Months | 9.0% | 15.9% | 9.5% | 14.6% | 24.9% | 0.9% | ||
| Historical EBIT Profit Margin | ||||||||
| 5 Year Average Margin | 6.5% | 6.0% | 9.2% | 10.4% | 11.9% | 21.2% | ||
| Prior Fiscal Year | 4.3% | 5.8% | 5.9% | 13.7% | 9.7% | 16.9% | ||
| Latest Fiscal Year | 9.2% | 5.6% | 8.8% | 10.9% | 10.0% | 14.4% | ||
| Latest Twelve Months | 9.2% | 6.0% | 8.8% | 10.9% | 10.0% | 14.4% | ||
| Current Trading Multiples | ||||||||
| EV / LTM Revenue | 0.61x | 0.64x | 1.12x | 1.36x | 0.95x | 1.16x | ||
| EV / LTM EBIT | 6.6x | 10.8x | 12.8x | 12.6x | 9.5x | 8.1x | ||
| Price / LTM Sales | 0.42x | 0.41x | 1.07x | 1.26x | 0.98x | 1.19x | ||
| Low | Mid | High | ||||||
| Benchmark EV / LTM Revenue | 0.61x | 0.95x | 1.36x | |||||
| Historical EV / LTM Revenue | 1.16x | 2.14x | 4.17x | |||||
| Selected EV / LTM Revenue | 1.53x | 1.61x | 1.69x | |||||
| (x) LTM Revenue | 53,604,073 | 53,604,073 | 53,604,073 | |||||
| (=) Implied Enterprise Value | 82,189,141 | 86,514,885 | 90,840,630 | |||||
| (-) Non-shareholder Claims * | 1,986,900 | 1,986,900 | 1,986,900 | |||||
| (=) Equity Value | 84,176,041 | 88,501,785 | 92,827,530 | |||||
| (/) Shares Outstanding | 116,318.1 | 116,318.1 | 116,318.1 | |||||
| Implied Value Range | 723.67 | 760.86 | 798.05 | |||||
| FX Rate: IDR/IDR | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 723.67 | 760.86 | 798.05 | 550.00 | ||||
| Upside / (Downside) | 31.6% | 38.3% | 45.1% | |||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | JPFA | SBT | CPIN | MYOR | VHC | HMSP | |
| Enterprise Value | 33,572,778 | 19,328,024 | 75,615,223 | 49,217,018 | 11,848,823 | 61,988,042 | |
| (+) Cash & Short Term Investments | 1,356,331 | 8,775,958 | 4,846,038 | 4,601,449 | 2,910,419 | 2,369,521 | |
| (+) Investments & Other | 281,816 | 4,763,508 | 74,185 | 0 | 69,482 | 90,781 | |
| (-) Debt | (10,743,624) | (20,343,669) | (8,533,263) | (8,148,443) | (2,277,107) | (473,402) | |
| (-) Other Liabilities | (1,095,684) | (89,532) | (14,963) | (281,864) | (318,920) | 0 | |
| (-) Preferred Stock | 0 | (216,113) | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 23,371,617 | 12,218,176 | 71,987,220 | 45,388,160 | 12,232,697 | 63,974,942 | |
| (/) Shares Outstanding | 11,627.7 | 814.5 | 16,398.0 | 22,358.7 | 224.5 | 116,318.1 | |
| Implied Stock Price | 2,010.00 | 15,000.00 | 4,390.00 | 2,030.00 | 54,500.00 | 550.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 2,010.00 | 15,000.00 | 4,390.00 | 2,030.00 | 54,500.00 | 550.00 | |
| Trading Currency | IDR | VND | IDR | IDR | VND | IDR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |