Financials PT Indofood Sukses Makmur Tbk

Equities

INDF

ID1000057003

Food Processing

End-of-day quote INDONESIA S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
6,050 IDR -2.42% Intraday chart for PT Indofood Sukses Makmur Tbk -0.82% -6.20%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 69,584,880 60,145,922 55,536,198 59,048,368 56,633,751 53,121,580 - -
Enterprise Value (EV) 2 79,271 96,844 87,554 98,976 85,268 82,224 80,964 73,961
P/E ratio 14.2 x 9.32 x 7.27 x 9.29 x 6.95 x 5.34 x 4.71 x 4.59 x
Yield 2.98% 4.06% 4.4% - - 7.27% 8.09% 8.14%
Capitalization / Revenue 0.91 x 0.74 x 0.56 x 0.53 x 0.51 x 0.44 x 0.42 x 0.4 x
EV / Revenue 1.03 x 1.18 x 0.88 x 0.89 x 0.76 x 0.69 x 0.64 x 0.56 x
EV / EBITDA 6.32 x 6.16 x 4.27 x 4.51 x 3.7 x 3.28 x 3.04 x 2.55 x
EV / FCF 9.12 x 10.5 x 8.84 x 10.3 x 5.88 x 4.67 x 6.08 x -
FCF Yield 11% 9.57% 11.3% 9.74% 17% 21.4% 16.5% -
Price to Book 1.84 x 1.42 x 1.15 x 1.1 x 0.96 x 0.79 x 0.72 x 0.67 x
Nbr of stocks (in thousands) 8,780,427 8,780,427 8,780,427 8,780,427 8,780,427 8,780,426 - -
Reference price 3 7,925 6,850 6,325 6,725 6,450 6,050 6,050 6,050
Announcement Date 3/23/20 3/23/21 3/31/22 3/27/23 1/15/24 - - -
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 76,593 81,731 99,346 110,830 111,704 119,627 127,120 133,179
EBITDA 1 12,544 15,732 20,483 21,953 23,063 25,042 26,616 28,991
EBIT 1 9,530 12,657 17,100 18,683 19,679 21,070 22,421 24,399
Operating Margin 12.44% 15.49% 17.21% 16.86% 17.62% 17.61% 17.64% 18.32%
Earnings before Tax (EBT) 1 8,749 12,426 14,456 12,319 15,615 18,685 20,642 22,664
Net income 1 4,908 6,456 7,642 6,359 8,147 9,991 11,424 12,132
Net margin 6.41% 7.9% 7.69% 5.74% 7.29% 8.35% 8.99% 9.11%
EPS 2 559.0 735.0 870.0 724.0 928.0 1,132 1,284 1,319
Free Cash Flow 3 8,694,368 9,263,193 9,907,973 9,645,182 14,492,760 17,605,000 13,325,394 -
FCF margin 11,351.39% 11,333.69% 9,973.24% 8,702.66% 12,974.3% 14,716.58% 10,482.51% -
FCF Conversion (EBITDA) 69,310.28% 58,881.05% 48,371.69% 43,936.05% 62,840.94% 70,301.01% 50,065.72% -
FCF Conversion (Net income) 177,140.65% 143,490.1% 129,648.23% 151,675.41% 177,890.34% 176,208.97% 116,646.23% -
Dividend per Share 2 236.0 278.0 278.0 - - 439.7 489.2 492.4
Announcement Date 3/23/20 3/23/21 3/31/22 3/27/23 1/15/24 - - -
1IDR in Billions2IDR3IDR in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q2 2022 S1
Net sales 1 26,537 25,341 52,787
EBITDA - - -
EBIT 4,987 - -
Operating Margin 18.79% - -
Earnings before Tax (EBT) - - -
Net income 1 - 542.9 2,901
Net margin - 2.14% 5.5%
EPS - - -
Dividend per Share - - -
Announcement Date 3/31/22 8/31/22 8/31/22
1IDR in Billions
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 9,686 36,698 32,018 39,928 28,634 29,102 27,843 20,840
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.7722 x 2.333 x 1.563 x 1.819 x 1.242 x 1.162 x 1.046 x 0.7188 x
Free Cash Flow 2 8,694,368 9,263,193 9,907,973 9,645,182 14,492,760 17,605,000 13,325,394 -
ROE (net income / shareholders' equity) 13.7% 16.1% 16.9% 12.4% 14.4% 15.8% 15.7% 15.5%
ROA (Net income/ Total Assets) 5.09% 4.98% 4.46% 3.54% 4.44% 5.18% 5.75% 6.38%
Assets 1 96,368 129,657 171,246 179,854 183,512 193,011 198,847 190,303
Book Value Per Share 3 4,303 4,826 5,497 6,132 6,741 7,626 8,357 9,048
Cash Flow per Share 3 1,520 1,578 1,673 1,547 2,102 2,378 2,155 2,892
Capex 1 4,650 4,592 4,785 3,943 3,968 5,014 5,128 5,621
Capex / Sales 6.07% 5.62% 4.82% 3.56% 3.55% 4.19% 4.03% 4.22%
Announcement Date 3/23/20 3/23/21 3/31/22 3/27/23 1/15/24 - - -
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
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
6,050 IDR
Average target price
8,265 IDR
Spread / Average Target
+36.61%
Consensus

Quarterly revenue - Rate of surprise

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