BBHI cashflow still negative
BBHI.jk Current 1,880 Target 693 -63%
12/19/2022
1 minute read
Sales grew 110%, but not cash receipts
Last 5 quarters growth, sales billion rupiah
79% -10% 34% -32% 110%
131 ; 118 ; 158 ; 108 ; 226
Margin down profit down
Last 5 quarters cash margin, profit billion rupiah
56% 163% 45% 121% 32%
63 ; 107 ; 75 ; 76 ; 58
Cashflow less negative
Last 5 quarters operating, investment cashflow billion rupiah
-793 ; 47 ; -3,763 ; -267 ; -245
0 ; -1 ; 0 ; -85 ; -36
Net cash down
Last 5 quarters cash, liabilities billion rupiah
200 ; 246 ; 1,283 ; 931 ; 649
5,612 ; 3,346 ; 3,264 ; 3,503 ; 4,284
Capital flat
Last 5 quarters capital (raised) paid from liabilities, equity billion rupiah
0 ; 0 ; 0 ; 0 ; 0
-748 ; -2 ; -4,800 ; 0 ; 0
12/19/2022
1 minute read
- Last 12 months sales growth + 72%
- Last 12 months cash flow -11% of market cap
- Last 12 months Capital -12% of market cap
- Latest net cash -9% of market cap
Sales grew 110%, but not cash receipts
Last 5 quarters growth, sales billion rupiah
79% -10% 34% -32% 110%
131 ; 118 ; 158 ; 108 ; 226
- Sales grew 110% in the third quarter to 226 billion rupiah ; our forecasts v sales is 21% now.
- This brings the average to 25% growth.
- We predict average growth of 1% in this next 12 months to bring sales to 238 billion rupiah in the third quarter 2023.
Margin down profit down
Last 5 quarters cash margin, profit billion rupiah
56% 163% 45% 121% 32%
63 ; 107 ; 75 ; 76 ; 58
- The cash margin went from 121% to 32% profit from 76 to 58 billion rupiah in the third quarter.
- The average cash margin is at 90% now.
- We use a 32% cash margin to predict a 55 billion rupiah profit in the third quarter 2023.
Cashflow less negative
Last 5 quarters operating, investment cashflow billion rupiah
-793 ; 47 ; -3,763 ; -267 ; -245
0 ; -1 ; 0 ; -85 ; -36
- Free cashflow went from -352 to -282 billion rupiah in the third quarter with -36 billion rupiah investment cashflow.
- Average quarterly Cashflow is at -1,088 billion rupiah now.
- We assume -36 billion rupiah investment spending which with higher sales gives 38 billion rupiah average Cashflow in the next 12 months.
Net cash down
Last 5 quarters cash, liabilities billion rupiah
200 ; 246 ; 1,283 ; 931 ; 649
5,612 ; 3,346 ; 3,264 ; 3,503 ; 4,284
- Cash declined 931 to 649 billion rupiah in the third quarter.
- Liabilities increased 3,503 to 4,284 billion rupiah so net cash was down -2,572 to -3,635 billion rupiah .
- With our forecast cashflow & a -42 billion rupiah equity payout -2 billion rupiah liabilities net cash will be -3,526 billion rupiah in 12 months time.
Capital flat
Last 5 quarters capital (raised) paid from liabilities, equity billion rupiah
0 ; 0 ; 0 ; 0 ; 0
-748 ; -2 ; -4,800 ; 0 ; 0
- BBHI.jk (raised) 0 billion rupiah in the third quarter 0 billion rupiah liabilities 0 billion rupiah equity, will pay 44 billion rupiah this next 12 months.
- At the current market value of 40,853 billion rupiah based on our forecasts it’s at 3.80 X assets with a 66 years payback & a 0% yield.
- Our cashflow forecast is 151 billion rupiah which means a 271 X valuation. A 100 X valuation gives a -63% lower target price 693 rupiah.