Financials PT Bank CIMB Niaga Tbk

Equities

End-of-day quote INDONESIA S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
1,800 ^IDR	-3.49%		-9.55%	+6.19%

Mar. 01	Nomura Adjusts Bank CIMB Niaga’s Price Target to IDR2,200 From IDR1,200, Keeps at Neutral	MT
Feb. 21	Transcript : PT Bank CIMB Niaga Tbk, Q4 2023 Earnings Call, Feb 21, 2024

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	24,057,334	25,005,949	24,057,174	29,545,752	42,268,417	44,932,748	-	-
Enterprise Value (EV) ¹	24,057,334	25,005,949	24,057,174	29,545,752	42,268,417	44,932,748	44,932,748	44,932,748
P/E ratio	6.6 x	12.3 x	5.87 x	5.86 x	6.53 x	6.75 x	6.06 x	5.17 x
Yield	-	-	9.75%	-	-	8.22%	8.46%	9.4%
Capitalization / Revenue	1.43 x	1.53 x	1.37 x	1.57 x	2.25 x	2.25 x	2.09 x	1.89 x
EV / Revenue	1.43 x	1.53 x	1.37 x	1.57 x	2.25 x	2.25 x	2.09 x	1.89 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.56 x	0.6 x	0.55 x	0.65 x	0.86 x	0.86 x	0.8 x	0.74 x
Nbr of stocks (in thousands)	24,929,880	25,131,607	24,929,714	24,933,124	24,937,119	24,962,638	-	-
Reference price ²	965.0	995.0	965.0	1,185	1,695	1,800	1,800	1,800
Announcement Date	2/19/20	2/19/21	2/21/22	2/17/23	2/21/24	-	-	-

¹IDR in Million²IDR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	16,825	16,359	17,568	18,866	18,786	19,994	21,468	23,836
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	8,190	8,258	9,288	10,382	10,202	11,401	12,323	14,296
Operating Margin	48.68%	50.48%	52.87%	55.03%	54.31%	57.02%	57.4%	59.98%
Earnings before Tax (EBT) ¹	4,954	2,947	5,191	6,579	8,357	8,660	9,628	11,284
Net income ¹	3,645	2,012	4,100	5,042	6,474	6,848	7,405	8,675
Net margin	21.67%	12.3%	23.34%	26.72%	34.46%	34.25%	34.49%	36.4%
EPS ²	146.2	80.72	164.5	202.2	259.4	266.6	296.9	347.9
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	94.07	-	-	147.9	152.2	169.2
Announcement Date	2/19/20	2/19/21	2/21/22	2/17/23	2/21/24	-	-	-

¹IDR in Billions²IDR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.35%	5.33%	10.7%	11.4%	10.7%	13.1%	13.7%	14.9%
ROA (Net income/ Total Assets)	1.99%	1.06%	1.39%	1.63%	1.57%	1.96%	2.05%	2.18%
Assets ¹	183,174	189,849	295,865	308,762	411,635	348,770	361,824	397,344
Book Value Per Share ²	1,736	1,646	1,740	1,813	1,966	2,092	2,237	2,417
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	2/19/20	2/19/21	2/21/22	2/17/23	2/21/24	-	-	-

¹IDR in Billions²IDR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1,800 IDR

Average target price

2,385 IDR

Spread / Average Target

+32.50%

	1st Jan change	Capi.
PT BANK CIMB NIAGA TBK	+6.19%	2.77B
JPMORGAN CHASE & CO.	+13.75%	556B
BANK OF AMERICA CORPORATION	+12.36%	298B
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	+8.64%	247B
WELLS FARGO & COMPANY	+21.72%	210B
BANK OF CHINA LIMITED	+16.11%	170B
CHINA CONSTRUCTION BANK CORPORATION	+6.88%	162B
HSBC HOLDINGS PLC	+4.42%	153B
ROYAL BANK OF CANADA	+0.10%	139B
HDFC BANK LIMITED	-11.67%	138B