Financials PT Tower Bersama Infrastructure Tbk

Equities

TBIG

ID1000116908

Integrated Telecommunications Services

End-of-day quote INDONESIA S.E. 06:00:00 2024-05-13 pm EDT 5-day change 1st Jan Change
1,960 IDR +1.29% Intraday chart for PT Tower Bersama Infrastructure Tbk +3.16% -6.22%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 26,606,196 35,258,618 63,811,609 52,074,423 47,310,366 44,367,616 - -
Enterprise Value (EV) 2 49,041 58,625 92,608 52,074 47,310 71,721 71,391 70,535
P/E ratio 31.3 x 33.7 x 39.7 x 31.3 x 30.2 x 26.5 x 24.5 x 23.4 x
Yield - 1.96% 1.22% - - 2.23% 2.46% 2.48%
Capitalization / Revenue 5.66 x 6.62 x 10.3 x 7.98 x 7.12 x 6.48 x 6.21 x 6.03 x
EV / Revenue 10.4 x 11 x 15 x 7.98 x 7.12 x 10.5 x 9.99 x 9.59 x
EV / EBITDA 12.2 x 12.9 x 17.4 x 9.72 x 8.42 x 12.3 x 11.7 x 11.2 x
EV / FCF 29.7 x 33.8 x -34.2 x - - 35.5 x 28.3 x 35.6 x
FCF Yield 3.37% 2.96% -2.93% - - 2.82% 3.54% 2.81%
Price to Book 5.14 x 4.05 x 6.88 x - - 3.72 x 3.48 x 3.35 x
Nbr of stocks (in thousands) 21,631,054 21,631,054 21,631,054 22,641,054 22,636,539 22,636,539 - -
Reference price 3 1,230 1,630 2,950 2,300 2,090 1,960 1,960 1,960
Announcement Date 3/27/20 4/27/21 3/21/22 3/31/23 3/28/24 - - -
1IDR in Million2IDR in Billions3IDR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,699 5,328 6,180 6,524 6,641 6,842 7,148 7,355
EBITDA 1 4,011 4,549 5,337 5,359 5,616 5,832 6,125 6,319
EBIT 1 3,369 3,816 4,306 4,282 4,234 4,351 4,591 4,697
Operating Margin 71.7% 71.63% 69.68% 65.64% 63.76% 63.59% 64.22% 63.86%
Earnings before Tax (EBT) 1 1,223 1,509 1,936 1,912 1,805 2,353 2,563 2,782
Net income 1 819.5 1,010 1,549 1,638 1,560 1,655 1,817 1,996
Net margin 17.44% 18.95% 25.07% 25.1% 23.5% 24.19% 25.42% 27.13%
EPS 2 39.26 48.40 74.25 73.44 69.11 73.88 80.12 83.87
Free Cash Flow 3 1,651,932 1,734,570 -2,710,962 - - 2,022,013 2,527,122 1,979,084
FCF margin 35,156.9% 32,557.64% -43,869.65% - - 29,554.6% 35,352.74% 26,907.29%
FCF Conversion (EBITDA) 41,189.6% 38,128.31% - - - 34,670.27% 41,256.26% 31,318.69%
FCF Conversion (Net income) 201,589.35% 171,803.39% - - - 122,180.03% 139,090.51% 99,174.18%
Dividend per Share 2 - 32.00 36.00 - - 43.80 48.29 48.53
Announcement Date 3/27/20 4/27/21 3/21/22 3/31/23 3/28/24 - - -
1IDR in Billions2IDR3IDR in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q2 2024 Q3 2024 Q4
Net sales 2,577 - - - - - - - - - - - -
EBITDA 1 2,211 1,390 1,408 1,418 1,405 1,128 1,397 1,485 1,443 1,330 1,506 1,512 1,520
EBIT 1,883 - - - - - - - - - - - -
Operating Margin 73.05% - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income 510.5 468 415.3 410.9 396.7 414.7 332 356.8 476.1 395.4 - - -
Net margin 19.81% - - - - - - - - - - - -
EPS - 22.43 19.91 17.63 17.48 18.42 14.81 15.76 18.97 19.57 - - -
Dividend per Share 2 - 36.00 - - - - - - - - - - 34.42
Announcement Date 7/30/20 3/21/22 5/25/22 9/12/22 11/22/22 3/31/23 5/2/23 7/31/23 11/28/23 3/28/24 - - -
1IDR in Billions2IDR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 22,435 23,367 28,796 - - 27,354 27,024 26,167
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.594 x 5.136 x 5.396 x - - 4.69 x 4.412 x 4.141 x
Free Cash Flow 2 1,651,932 1,734,570 -2,710,962 - - 2,022,013 2,527,122 1,979,084
ROE (net income / shareholders' equity) 19.6% 14.7% 17.2% - - 13.8% 14.1% 14.3%
ROA (Net income/ Total Assets) 2.73% 3% 3.95% - - 4.71% 4.91% 6.43%
Assets 1 29,995 33,697 39,196 - - 35,101 37,032 31,035
Book Value Per Share 3 239.0 403.0 429.0 - - 527.0 564.0 586.0
Cash Flow per Share 3 177.0 182.0 214.0 - - 141.0 189.0 148.0
Capex 1 2,039 2,052 7,176 - - 1,885 2,048 2,023
Capex / Sales 43.4% 38.51% 116.13% - - 27.55% 28.65% 27.5%
Announcement Date 3/27/20 4/27/21 3/21/22 3/31/23 3/28/24 - - -
1IDR in Billions2IDR in Million3IDR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
15
Last Close Price
1,960 IDR
Average target price
2,281 IDR
Spread / Average Target
+16.36%
Consensus
  1. Stock Market
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  4. Financials PT Tower Bersama Infrastructure Tbk
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