Financials PT Indo Tambangraya Megah Tbk

Equities

ITMG

ID1000108509

Coal

End-of-day quote INDONESIA S.E. Other stock markets 06:00:00 2024-04-28 pm EDT			5-day change	1st Jan Change
24,950 ^IDR	+1.84%		-2.44%	-2.73%

Feb. 21	PT Indo Tambangraya Megah Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	PT Indo Tambangraya Megah Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	906	1,063	1,566	2,822	1,884	1,737	-	-
Enterprise Value (EV) ¹	757.4	875.1	910.7	1,418	1,884	770.4	556.2	622.3
P/E ratio	6.89 x	24.2 x	3.32 x	2.33 x	3.79 x	4.46 x	5.85 x	6.13 x
Yield	10.7%	3.46%	21%	-	-	16.8%	13.1%	10.8%
Capitalization / Revenue	0.53 x	0.9 x	0.75 x	0.78 x	0.79 x	0.78 x	0.9 x	0.87 x
EV / Revenue	0.44 x	0.74 x	0.44 x	0.39 x	0.79 x	0.35 x	0.29 x	0.31 x
EV / EBITDA	1.93 x	2.88 x	0.94 x	0.77 x	2.73 x	1.34 x	1.22 x	1.56 x
EV / FCF	18.1 x	5.7 x	1.5 x	1.09 x	-	1.7 x	1.73 x	1.99 x
FCF Yield	5.54%	17.6%	66.5%	91.5%	-	58.7%	57.6%	50.4%
Price to Book	1.02 x	1.24 x	1.29 x	1.44 x	-	0.92 x	0.89 x	0.85 x
Nbr of stocks (in thousands)	1,096,556	1,096,556	1,096,556	1,129,925	1,129,925	1,129,925	-	-
Reference price ²	0.8262	0.9695	1.428	2.498	1.667	1.537	1.537	1.537
Announcement Date	2/21/20	2/22/21	2/23/22	2/22/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,716	1,185	2,077	3,636	2,374	2,217	1,925	1,986
EBITDA ¹	392	304.3	969.3	1,850	689.1	573.8	455.1	399.7
EBIT ¹	180.5	103.9	791.2	1,683	605.5	504.1	389.9	333.7
Operating Margin	10.52%	8.77%	38.1%	46.28%	25.5%	22.74%	20.26%	16.8%
Earnings before Tax (EBT) ¹	185.9	72.55	621.1	1,545	644.1	510.7	395.6	374.4
Net income ¹	129.4	39.47	475.6	1,200	500.3	389.7	301.3	283.3
Net margin	7.54%	3.33%	22.9%	33%	21.07%	17.58%	15.65%	14.26%
EPS ²	0.1200	0.0400	0.4300	1.070	0.4400	0.3449	0.2629	0.2508
Free Cash Flow ¹	41.95	153.6	605.9	1,297	-	452.5	320.6	313.5
FCF margin	2.45%	12.96%	29.17%	35.67%	-	20.41%	16.66%	15.78%
FCF Conversion (EBITDA)	10.7%	50.49%	62.51%	70.11%	-	78.86%	70.45%	78.44%
FCF Conversion (Net income)	32.41%	389.21%	127.41%	108.08%	-	116.11%	106.42%	110.64%
Dividend per Share ²	0.0880	0.0335	0.3000	-	-	0.2580	0.2011	0.1658
Announcement Date	2/21/20	2/22/21	2/23/22	2/22/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	647	753.5	639.9	781.6	1,195	1,020	685.6	613.6	527.5	547.7	522.4	503	583.2	548.6	500.8
EBITDA ¹	-	388.7	334.6	399.5	652.4	463.7	246.3	170.2	180.1	-	131.8	106.7	157.5	115.7	106.2
EBIT ¹	268.8	341.9	300	369.4	603.7	409.6	220.9	153.2	115.2	116.2	115.2	91.05	140	101.9	90.6
Operating Margin	41.54%	45.38%	46.88%	47.26%	50.53%	40.17%	32.21%	24.97%	21.84%	21.22%	22.05%	18.1%	24.01%	18.57%	18.09%
Earnings before Tax (EBT) ¹	197.8	269.1	274.5	322.4	549.5	398.4	234	162.2	125.3	122.6	121.1	100.8	149.2	112.1	100.9
Net income ¹	153.9	204.1	213.3	247.6	433	306.3	182.7	124.2	98.88	94.5	94.56	78.65	116.4	87.45	78.72
Net margin	23.78%	27.08%	33.33%	31.67%	36.24%	30.03%	26.65%	20.25%	18.75%	17.26%	18.1%	15.64%	19.96%	15.94%	15.72%
EPS ²	0.1400	0.1800	0.1900	0.2200	0.3900	0.2700	0.1600	0.1100	0.0900	0.0800	0.0498	0.0696	0.1030	0.0774	0.0697
Dividend per Share ²	-	0.2100	-	0.2800	-	-	-	0.4200	-	-	-	0.1110	-	0.0776	-
Announcement Date	11/11/21	2/23/22	5/10/22	8/10/22	11/10/22	2/22/23	5/10/23	8/10/23	11/10/23	2/21/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	149	188	655	1,404	-	966	1,180	1,114
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	41.9	154	606	1,297	-	453	321	314
ROE (net income / shareholders' equity)	13.9%	4.53%	46.1%	75.8%	-	22.2%	15.5%	13.7%
ROA (Net income/ Total Assets)	9.76%	3.33%	33.7%	55.7%	-	19.1%	12.7%	12.2%
Assets ¹	1,326	1,184	1,412	2,153	-	2,045	2,376	2,328
Book Value Per Share ²	0.8100	0.7800	1.100	1.740	-	1.670	1.720	1.810
Cash Flow per Share ²	0.0400	0.1600	0.5600	1.180	-	0.3500	0.3300	-
Capex ¹	47.5	19.1	11.6	28.4	-	55.6	42.1	43.3
Capex / Sales	2.77%	1.61%	0.56%	0.78%	-	2.51%	2.19%	2.18%
Announcement Date	2/21/20	2/22/21	2/23/22	2/22/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for PT Indo Tambangraya Megah Tbk

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1.537 USD

Average target price

1.609 USD

Spread / Average Target

+4.67%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Coal