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 EBITDA Multiple | 4,7x - 5,2x | 4,9x |
| Selected Fwd EBITDA Multiple | 4,7x - 5,2x | 4,9x |
| Fair Value | Rp938,14 - Rp1.043 | Rp990,47 |
| Upside | 10,4% - 22,7% | 16,5% |
| Benchmarks | Ticker | Full Ticker |
| PT Astra Agro Lestari Tbk | AALI | IDX:AALI |
| PT Diamond Food Indonesia Tbk | DMND | IDX:DMND |
| PT Nippon Indosari Corpindo Tbk | ROTI | IDX:ROTI |
| PT Ultrajaya Milk Industry & Trading Company Tbk | ULTJ | IDX:ULTJ |
| PT Cerestar Indonesia Tbk | TRGU | IDX:TRGU |
| PT Sumber Tani Agung Resources Tbk | STAA | IDX:STAA |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| AALI | DMND | ROTI | ULTJ | TRGU | STAA | ||
| IDX:AALI | IDX:DMND | IDX:ROTI | IDX:ULTJ | IDX:TRGU | IDX:STAA | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 4.1% | 1.2% | 6.4% | 1.6% | NM- | 26.4% | |
| 3Y CAGR | -9.5% | 5.6% | 6.0% | -4.1% | 3.9% | 3.9% | |
| Latest Twelve Months | 6.5% | 17.2% | 5.4% | -4.3% | -23.3% | 62.8% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 16.3% | 6.9% | 17.0% | 22.0% | 4.9% | 30.8% | |
| Prior Fiscal Year | 14.5% | 6.0% | 17.1% | 19.8% | 3.4% | 25.9% | |
| Latest Fiscal Year | 14.7% | 6.6% | 17.5% | 17.7% | 3.0% | 34.6% | |
| Latest Twelve Months | 14.7% | 6.6% | 17.5% | 17.7% | 3.0% | 34.6% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.49x | 0.69x | 1.45x | 1.33x | 0.61x | 1.54x | |
| EV / LTM EBITDA | 3.3x | 10.5x | 8.2x | 7.5x | 20.3x | 4.4x | |
| EV / LTM EBIT | 6.0x | 15.4x | 11.1x | 8.2x | 32.0x | 5.2x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | 3.3x | 8.2x | 20.3x | ||||
| Historical EV / LTM EBITDA | 4.4x | 5.8x | 6.9x | ||||
| Selected EV / LTM EBITDA | 4.7x | 4.9x | 5.2x | ||||
| (x) LTM EBITDA | 2,225,627 | 2,225,627 | 2,225,627 | ||||
| (=) Implied Enterprise Value | 10,423,160 | 10,971,748 | 11,520,335 | ||||
| (-) Non-shareholder Claims * | (613,762) | (613,762) | (613,762) | ||||
| (=) Equity Value | 9,809,398 | 10,357,986 | 10,906,573 | ||||
| (/) Shares Outstanding | 10,903.4 | 10,903.4 | 10,903.4 | ||||
| Implied Value Range | 899.67 | 949.98 | 1,000.29 | ||||
| FX Rate: IDR/IDR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 899.67 | 949.98 | 1,000.29 | 850.00 | |||
| Upside / (Downside) | 5.8% | 11.8% | 17.7% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | AALI | DMND | ROTI | ULTJ | TRGU | STAA | |
| Enterprise Value | 10,640,921 | 6,808,977 | 5,682,683 | 11,804,188 | 3,138,577 | 9,881,629 | |
| (+) Cash & Short Term Investments | 3,236,012 | 538,626 | 430,946 | 2,434,322 | 627 | 1,318,490 | |
| (+) Investments & Other | 410,417 | 68,851 | 8,602 | 132,526 | 0 | 16,100 | |
| (-) Debt | (3,189,537) | (2,167) | (623,098) | (37,848) | (1,716,974) | (1,517,090) | |
| (-) Other Liabilities | (560,144) | (28,967) | (5,794) | (87,688) | (1) | (431,262) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 10,537,669 | 7,385,320 | 5,493,339 | 14,245,500 | 1,422,229 | 9,267,867 | |
| (/) Shares Outstanding | 1,924.7 | 9,468.4 | 5,692.6 | 10,398.2 | 7,945.4 | 10,903.4 | |
| Implied Stock Price | 5,475.00 | 780.00 | 965.00 | 1,370.00 | 179.00 | 850.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 5,475.00 | 780.00 | 965.00 | 1,370.00 | 179.00 | 850.00 | |
| 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 | |