BLTZ cashflow less positive
BLTZ.jk Current 2,140 Target 2,781 + 30%
12/11/2022
1 minute read
Sales declined -14%
Last 5 quarters growth, sales billion rupiah
-91% 2,717% -85% 1,202% -14%
6 ; 180 ; 27 ; 355 ; 305
Margin down profit down
Last 5 quarters cash margin, profit billion rupiah
-267% 10% -13% 21% 17%
-66 ; -31 ; -51 ; 31 ; 4
Cashflow lower
Last 5 quarters operating, investment cashflow billion rupiah
-52 ; 27 ; -19 ; 94 ; 71
-0 ; -12 ; -5 ; -8 ; -10
Net cash up
Last 5 quarters cash, liabilities billion rupiah
30 ; 143 ; 119 ; 205 ; 266
1,736 ; 1,871 ; 1,860 ; 1,899 ; 1,929
Capital flat
Last 5 quarters capital (raised) paid from liabilities, equity billion rupiah
0 ; -96 ; 0 ; 0 ; 0
0 ; 0 ; 0 ; 0 ; 0
12/11/2022
1 minute read
- Last 12 months sales growth + 4,663%
- Last 12 months cash flow + 7% of market cap
- Last 12 months Capital -5% of market cap
- Latest net cash -89% of market cap
Sales declined -14%
Last 5 quarters growth, sales billion rupiah
-91% 2,717% -85% 1,202% -14%
6 ; 180 ; 27 ; 355 ; 305
- Sales declined -14% in the third quarter to 305 billion rupiah ; our forecasts v sales is -2% now.
- This brings the average to 955% growth.
- We predict average growth of 3% in this next 12 months to bring sales to 335 billion rupiah in the third quarter 2023.
Margin down profit down
Last 5 quarters cash margin, profit billion rupiah
-267% 10% -13% 21% 17%
-66 ; -31 ; -51 ; 31 ; 4
- The cash margin went from 21% to 17% profit from 31 to 4 billion rupiah in the third quarter.
- The average cash margin is at 9% now.
- We use a 19% cash margin to predict a 18 billion rupiah profit in the third quarter 2023.
Cashflow lower
Last 5 quarters operating, investment cashflow billion rupiah
-52 ; 27 ; -19 ; 94 ; 71
-0 ; -12 ; -5 ; -8 ; -10
- Free cashflow went from 86 to 61 billion rupiah in the third quarter with -10 billion rupiah investment cashflow.
- Average quarterly Cashflow is at 35 billion rupiah now.
- We assume -8 billion rupiah investment spending which with higher sales gives 55 billion rupiah average Cashflow in the next 12 months.
Net cash up
Last 5 quarters cash, liabilities billion rupiah
30 ; 143 ; 119 ; 205 ; 266
1,736 ; 1,871 ; 1,860 ; 1,899 ; 1,929
- Cash increased 205 to 266 billion rupiah in the third quarter.
- Liabilities increased 1,899 to 1,929 billion rupiah so net cash was up -1,694 to -1,663 billion rupiah .
- With our forecast cashflow & a 0 billion rupiah equity payout -221 billion rupiah liabilities net cash will be -1,442 billion rupiah in 12 months time.
Capital flat
Last 5 quarters capital (raised) paid from liabilities, equity billion rupiah
0 ; -96 ; 0 ; 0 ; 0
0 ; 0 ; 0 ; 0 ; 0
- BLTZ.jk (raised) 0 billion rupiah in the third quarter 0 billion rupiah liabilities 0 billion rupiah equity, will pay 221 billion rupiah this next 12 months.
- At the current market value of 1,870 billion rupiah based on our forecasts it’s at 0.82 X assets with a 9 years payback & a 0% yield.
- Our cashflow forecast is 221 billion rupiah which means a 8 X valuation. A 11 X valuation gives a 30% higher target price 2,781 rupiah.
SHARPFOKUS DATA