BUKA lots of cash
BUKA Current 332 Target 325 -2%
Aug 5, 2022
1 minute read
Last 12 months cash flow -17% of market cap
Last 12 months Capital -62% of market cap
Latest net cash 52% of market cap
Sales grew 15%
Last 5 quarters billion rupiah
440, 484, 521, 788, 903
Costs down profit down
Last 5 quarters cost ratio & profit billion rupiah
-204% -173% -146% -120% -108%
-443 -361 -548 14,549 -5,959
Cashflow less negative
Last 5 quarters operating & investment cashflow billion rupiah
-492 -373 -285 -162 -72
-1 7 -677 -2,579 -448
Net cash down
Last 5 quarters cash & liabilities billion rupiah
2,728 23,638 24,700 19,967 19,515
1,028 1,067 3,120 1,800 1,599
Capital worsened
Last 5 quarters cumulative capital , liabilities & equity
-9,888 -31,173 -33,213 -31,213 -31,215
0 0 -2,000 2,000 0
-1,541 -21,285 -40 0 -2
Aug 5, 2022
1 minute read
Last 12 months cash flow -17% of market cap
Last 12 months Capital -62% of market cap
Latest net cash 52% of market cap
Sales grew 15%
Last 5 quarters billion rupiah
440, 484, 521, 788, 903
- Sales grew 15% in the second quarter to 903 billion rupiah our forecasts v sales is -3% now.
- This brings the average to 21% growth.
- We predict average growth of 14% in this next 12 months to bring sales to 1,511 billion rupiah in the second quarter 2023.
Costs down profit down
Last 5 quarters cost ratio & profit billion rupiah
-204% -173% -146% -120% -108%
-443 -361 -548 14,549 -5,959
- The cash cost ratio went from -120% to -108% profit from 14,549 to -5,959 billion rupiah in the second quarter.
- The average cost ratio is at -137% now.
- We use fixed costs & a resulting -89% cost ratio to predict a 113 billion rupiah profit in the second quarter 2023.
Cashflow less negative
Last 5 quarters operating & investment cashflow billion rupiah
-492 -373 -285 -162 -72
-1 7 -677 -2,579 -448
- Free cashflow went less negative from -2,741 to -520 billion rupiah in the second quarter with -448 investment cashflow.
- Average quarterly Cashflow is at -1,147 billion rupiah now.
- We assume the same -448 billion rupiah investment cashflow which with higher sales gives an improved -277 billion rupiah Cashflow in the second quarter 2023.
Net cash down
Last 5 quarters cash & liabilities billion rupiah
2,728 23,638 24,700 19,967 19,515
1,028 1,067 3,120 1,800 1,599
- Cash declined 19,967 to 19,515 billion rupiah in the second quarter.
- Liabilities declined 1,800 to 1,599 billion rupiah so net cash was down 18,167 to 17,916 billion rupiah .
- With our forecast cashflow & a -85 billion rupiah equity payout -297 billion rupiah liabilities payment net cash will be 16,473 billion rupiah in 12 months time.
Capital worsened
Last 5 quarters cumulative capital , liabilities & equity
-9,888 -31,173 -33,213 -31,213 -31,215
0 0 -2,000 2,000 0
-1,541 -21,285 -40 0 -2
- BUKA cumulative capital worsened -31,213 to -31,215 billion rupiah with 0 & -2 billion rupiah from liabilities, equity in the second quarter but will be -30,834 billion rupiah in12 months time.
- At the current market value of 34,217 billion rupiah based on our forecasts it’s at 0.97 X assets with a -11 years payback & a 0% yield.
- Our operating cashflow forecast is 683 billion rupiah which means an 50 X valuation. A 49 X valuation gives a -2% lower target price 325 rupiah.
