Financials PT Tower Bersama Infrastructure Tbk

Equities

TBIG

ID1000116908

Integrated Telecommunications Services

End-of-day quote INDONESIA S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
1,855 IDR 0.00% Intraday chart for PT Tower Bersama Infrastructure Tbk +6.00% -11.24%

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 41,990,779 - -
Enterprise Value (EV) 2 49,041 58,625 92,608 52,074 47,310 70,578 70,005 67,604
P/E ratio 31.3 x 33.7 x 39.7 x 31.3 x 30.2 x 25.1 x 22.7 x 20.8 x
Yield - 1.96% 1.22% - - 2.33% 2.7% 2.7%
Capitalization / Revenue 5.66 x 6.62 x 10.3 x 7.98 x 7.12 x 6.08 x 5.82 x 5.78 x
EV / Revenue 10.4 x 11 x 15 x 7.98 x 7.12 x 10.2 x 9.71 x 9.3 x
EV / EBITDA 12.2 x 12.9 x 17.4 x 9.72 x 8.42 x 11.9 x 11.3 x 10.7 x
EV / FCF 29.7 x 33.8 x -34.2 x - - 28.1 x 25.6 x -
FCF Yield 3.37% 2.96% -2.93% - - 3.56% 3.91% -
Price to Book 5.14 x 4.05 x 6.88 x - - 3.46 x 3.25 x 3.1 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 1,855 1,855 1,855
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 6,904 7,212 7,267
EBITDA 1 4,011 4,549 5,337 5,359 5,616 5,933 6,206 6,291
EBIT 1 3,369 3,816 4,306 4,282 4,234 4,433 4,677 4,760
Operating Margin 71.7% 71.63% 69.68% 65.64% 63.76% 64.21% 64.85% 65.5%
Earnings before Tax (EBT) 1 1,223 1,509 1,936 1,912 1,805 2,395 2,594 3,028
Net income 1 819.5 1,010 1,549 1,638 1,560 1,679 1,863 2,068
Net margin 17.44% 18.95% 25.07% 25.1% 23.5% 24.32% 25.83% 28.45%
EPS 2 39.26 48.40 74.25 73.44 69.11 73.96 81.79 89.11
Free Cash Flow 3 1,651,932 1,734,570 -2,710,962 - - 2,509,514 2,738,339 -
FCF margin 35,156.9% 32,557.64% -43,869.65% - - 36,350.6% 37,967.46% -
FCF Conversion (EBITDA) 41,189.6% 38,128.31% - - - 42,296.82% 44,123.32% -
FCF Conversion (Net income) 201,589.35% 171,803.39% - - - 149,461.07% 147,002.33% -
Dividend per Share 2 - 32.00 36.00 - - 43.30 50.05 50.17
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 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
Net sales 2,577 - - - - - - - - - - - - - -
EBITDA 1 2,211 1,391 1,390 1,408 1,418 1,405 1,128 1,397 1,485 1,443 1,330 1,453 1,506 1,512 1,520
EBIT 1,883 - - - - - - - - - - - - - -
Operating Margin 73.05% - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income 510.5 417.7 468 415.3 410.9 396.7 414.7 332 356.8 476.1 395.4 - - - -
Net margin 19.81% - - - - - - - - - - - - - -
EPS - 20.03 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 12/8/21 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 - - 28,587 28,014 25,613
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.594 x 5.136 x 5.396 x - - 4.818 x 4.514 x 4.072 x
Free Cash Flow 2 1,651,932 1,734,570 -2,710,962 - - 2,509,514 2,738,339 -
ROE (net income / shareholders' equity) 19.6% 14.7% 17.2% - - 13.4% 14.2% 14.9%
ROA (Net income/ Total Assets) 2.73% 3% 3.95% - - 3.96% 4.36% -
Assets 1 29,995 33,697 39,196 - - 42,395 42,734 -
Book Value Per Share 3 239.0 403.0 429.0 - - 537.0 570.0 599.0
Cash Flow per Share 3 177.0 182.0 214.0 - - 208.0 217.0 -
Capex 1 2,039 2,052 7,176 - - 1,665 2,310 1,574
Capex / Sales 43.4% 38.51% 116.13% - - 24.12% 32.03% 21.66%
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
1,855 IDR
Average target price
2,245 IDR
Spread / Average Target
+21.04%
Consensus
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