Financials PT Sinar Mas Agro Resources and Technology Tbk

Equities

SMAR

ID1000101504

Food Processing

End-of-day quote INDONESIA S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
3,800 IDR -0.52% Intraday chart for PT Sinar Mas Agro Resources and Technology Tbk +1.06% -5.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 11,632,383 11,890,881 11,919,602 12,522,763 14,217,357 11,488,773
Enterprise Value (EV) 1 24,730,277 24,064,957 25,236,408 29,544,162 29,940,664 25,889,884
P/E ratio 19.5 x 13.2 x 7.75 x 4.43 x 2.58 x 12.5 x
Yield 18.5% - 3.86% 6.77% 11.5% -
Capitalization / Revenue 0.31 x 0.33 x 0.29 x 0.22 x 0.19 x 0.17 x
EV / Revenue 0.66 x 0.66 x 0.62 x 0.52 x 0.4 x 0.39 x
EV / EBITDA 10 x 12.2 x 7.72 x 6.02 x 3.85 x 10 x
EV / FCF -27.1 x 20.8 x -11.3 x -17.2 x 64.7 x 10.9 x
FCF Yield -3.69% 4.8% -8.84% -5.83% 1.55% 9.17%
Price to Book 0.95 x 1.09 x 0.95 x 0.87 x 0.74 x 0.6 x
Nbr of stocks (in thousands) 2,872,193 2,872,193 2,872,193 2,872,193 2,872,193 2,872,193
Reference price 2 4,050 4,140 4,150 4,360 4,950 4,000
Announcement Date 3/29/19 4/7/20 3/18/21 3/18/22 4/3/23 3/28/24
1IDR in Million2IDR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 37,391,643 36,198,102 40,434,346 57,004,234 75,045,559 66,530,549
EBITDA 1 2,467,069 1,969,550 3,270,088 4,908,455 7,785,425 2,583,580
EBIT 1 1,581,335 1,074,556 2,323,027 3,906,632 6,561,542 1,459,369
Operating Margin 4.23% 2.97% 5.75% 6.85% 8.74% 2.19%
Earnings before Tax (EBT) 1 701,504 1,166,053 2,087,780 3,593,740 6,805,971 1,108,886
Net income 1 597,324 898,632 1,538,742 2,826,808 5,500,519 917,807
Net margin 1.6% 2.48% 3.81% 4.96% 7.33% 1.38%
EPS 2 208.0 312.9 535.7 984.2 1,915 319.5
Free Cash Flow 1 -912,294 1,154,697 -2,231,475 -1,721,505 462,734 2,374,512
FCF margin -2.44% 3.19% -5.52% -3.02% 0.62% 3.57%
FCF Conversion (EBITDA) - 58.63% - - 5.94% 91.91%
FCF Conversion (Net income) - 128.49% - - 8.41% 258.72%
Dividend per Share 2 750.0 - 160.0 295.0 570.0 -
Announcement Date 3/29/19 4/7/20 3/18/21 3/18/22 4/3/23 3/28/24
1IDR in Million2IDR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 13,097,894 12,174,076 13,316,806 17,021,399 15,723,307 14,401,111
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.309 x 6.181 x 4.072 x 3.468 x 2.02 x 5.574 x
Free Cash Flow 1 -912,295 1,154,697 -2,231,475 -1,721,505 462,735 2,374,512
ROE (net income / shareholders' equity) 5.03% 7.75% 13.1% 21% 32.7% 4.79%
ROA (Net income/ Total Assets) 3.49% 2.35% 4.62% 6.48% 9.89% 2.22%
Assets 1 17,124,133 38,200,646 33,285,931 43,630,987 55,627,101 41,417,283
Book Value Per Share 2 4,262 3,804 4,358 5,016 6,697 6,636
Cash Flow per Share 2 226.0 337.0 983.0 946.0 863.0 572.0
Capex 1 919,578 1,303,458 1,106,430 842,371 1,435,331 2,094,423
Capex / Sales 2.46% 3.6% 2.74% 1.48% 1.91% 3.15%
Announcement Date 3/29/19 4/7/20 3/18/21 3/18/22 4/3/23 3/28/24
1IDR in Million2IDR
Estimates
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