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DOID rather dull with more negative cashflow
DOID Current 545 Target 752 + 38%
24 May 2022
1 minute read
Sales grew 6%
Last 5 quarters
49% 18% 31% 27% 6%
Costs up profit down
Last 5 quarters
-95% -86% -77% -81% -83%
Cashflow less negative
Last 5 quarters million dollars
-29 29 -99 -180 -97
Balance sheet net cash worsened
Last 5 quarters million dollars
-638 -674 -787 -1,176 -1,234
Capital raised worsened , a 38% higher target price
Last 5 quarters million dollars
192 192 -158 -176 -215
24 May 2022
1 minute read
Sales grew 6%
Last 5 quarters
49% 18% 31% 27% 6%
- Sales grew 6% in the first quarter to 332 million dollars 25% above our 265 million dollars forecast.
- This brings the average to 20% growth.
- We predict average growth of 4% in this next 12 months to bring sales to 391 million dollars in the first quarter 2023.
Costs up profit down
Last 5 quarters
-95% -86% -77% -81% -83%
- The cash cost ratio went from -81% to -83% profit from 16 to -1 million dollars in the first quarter.
- The average cost ratio is at -82% now.
- We use a lower -81% cost ratio to predict a 21 million dollars profit in the first quarter 2023.
Cashflow less negative
Last 5 quarters million dollars
-29 29 -99 -180 -97
- Free cashflow went less negative from -180 to -97 million dollars in the first quarter with still high -95 million dollars investment spending.
- Average quarterly Cashflow is at -87 million dollars now.
- We assume lower -57 million dollars investment spending which with higher sales gives -5 million dollars Cashflow in the first quarter 2023.
Balance sheet net cash worsened
Last 5 quarters million dollars
-638 -674 -787 -1,176 -1,234
- Cash declined 194 to 138 million dollars in the first quarter.
- Liabilities increased 1,370 to 1,372 million dollars so net cash worsened -1,176 to -1,234 million dollars .
- With our forecast cashflow & a 0 million dollars equity payout 31 million dollars liabilities payment net cash will be -1,165 million dollars in 12 months time.
Capital raised worsened , a 38% higher target price
Last 5 quarters million dollars
192 192 -158 -176 -215
- DOID 25 quarter capital raised worsened -176 to -215 million dollars in the first quarter with 42 million dollars new liabilities, a -3 million dollars equity payment & will be -246 million dollars in12 months time.
- At the current market value of 328 million dollars based on our forecasts it’s at only 0.20 X assets with a 8 years payback & a 0% yield.
- Our cashflow forecast is 197 million dollars which means a 2 X valuation. A 2.3 X valuation gives a 38% higher target price 752 rupiah.