sharpfokus
  • Asjmp
  • English
  • ABMM
  • ADMF
  • AVIA
  • BBTN
  • BISI
  • BLTZ
  • BNII
  • BNLI
  • BRMS
  • BUKK
  • BVIC
  • CMNP
  • CMNT
  • DLTA
  • DRMA
  • DVLA
  • DYAN
  • EAST
  • FASW
  • GOTO
  • HEXA
  • INTD
  • IPPE
  • ITMG
  • JIHD
  • KDSI
  • KIJA
  • MEGA
  • MERK
  • MMLP
  • MPMX
  • MTDL
  • MTEL
  • NFCX
  • NISP
  • OKAS
  • SLIS
  • STAA
  • STTP
  • TGKA
  • VICI
  • WEHA
  • WIRG
  • WOMF
  • Home
  • BERK
  • CVX
  • CVX
  • FB
  • GOLD
  • INTC
  • MAR
  • PEP
  • PG
  • TSN
  • TWTR
  • TXN
  • Presents
  • Kenny
  • Ranks
  • Palmweekly
  • Stockbit
  • TIRA
  • Meeting
  • MBAP
  • HTUFS
  • 7Steps
  • INTA
  • Model
  • MCOL
  • ESTI
  • Intern
  • Stockbitapp
  • SONA
  • Model1
  • Pdf
  • OBMD
  • PSKT
  • DGIK
  • Data
  • Above
  • IATA
  • mm
  • Untitled
  • Capital
Picture

INKP cashflow turns positive

INKP.jk Current 9,700 Target 10,079 + 4%

11/23/2022
1 minute read

  1. Last 12 months sales growth + 32%
  2. Last 12 months cash flow -0% of market cap
  3. Last 12 months Capital -5% of market cap
  4. Latest net cash -87% of market cap

Sales jumped 20%
Last 5 quarters growth, sales billion rupiah
6% 14% -1% -3% 20%
12,603 14,415 14,265 13,858 16,602
  • Sales jumped 20% in the third quarter to 16,602 billion rupiah our forecasts v sales is -4% now.
  • This brings the average to 8% growth.
  • We predict average growth of 2% in this next 12 months to bring sales to 17,613 billion rupiah in the third quarter 2023.

Costs down profit up
Last 5 quarters cost ratio, profit billion rupiah
-74% -101% -85% -102% -90%
1,547 1,944 2,527 3,208 3,956
  • The cash cost ratio went from -102% to -90% profit from 3,208 to 3,956 billion rupiah in the third quarter.
  • The average cost ratio is at -95% now.
  • We use a -90% cost ratio to predict a 785 billion rupiah profit in the third quarter 2023.

Cashflow positive
Last 5 quarters operating, investment cashflow billion rupiah
3,281 -128 1,642 -311 1,558
-357 -1,683 -441 -583 -239
  • Free cashflow went positive from -894 to 1,319 billion rupiah in the third quarter with -239 billion rupiah investment cashflow.
  • Average quarterly Cashflow is at -46 billion rupiah now.
  • We assume -737 billion rupiah investment spending which with higher sales gives 985 billion rupiah average Cashflow in the next 12 months.

Net cash down
Last 5 quarters cash, liabilities billion rupiah
13,855 15,117 18,382 14,528 17,715
57,283 60,241 63,153 60,502 63,982
  • Cash increased 14,528 to 17,715 billion rupiah in the third quarter.
  • Liabilities increased 60,502 to 63,982 billion rupiah so net cash was down -45,974 to -46,267 billion rupiah .
  • With our forecast cashflow & a 0 billion rupiah equity payout -11,868 billion rupiah liabilities net cash will be -42,328 billion rupiah in 12 months time.
​
Capital (raised)
Last 5 quarters capital from liabilities, equity billion rupiah
283 -3,046 -1,979 3,398 -1,107
262 3 0 19 265
  • INKP.jk (raised) -842 billion rupiah in the third quarter -1,107 billion rupiah liabilities +265 billion rupiah equity but will pay 11,868 billion rupiah this next 12 months.
  • At the current market value of 53,069 billion rupiah based on our forecasts it’s at 0.38 X assets with a 42 years payback & a 0% yield.
  • Our cashflow forecast is 3,939 billion rupiah which means a 13 X valuation. A 14 X valuation gives a 4% higher target price 10,079 rupiah.
Picture
SUBSCRIBE
  • Asjmp
  • English
  • ABMM
  • ADMF
  • AVIA
  • BBTN
  • BISI
  • BLTZ
  • BNII
  • BNLI
  • BRMS
  • BUKK
  • BVIC
  • CMNP
  • CMNT
  • DLTA
  • DRMA
  • DVLA
  • DYAN
  • EAST
  • FASW
  • GOTO
  • HEXA
  • INTD
  • IPPE
  • ITMG
  • JIHD
  • KDSI
  • KIJA
  • MEGA
  • MERK
  • MMLP
  • MPMX
  • MTDL
  • MTEL
  • NFCX
  • NISP
  • OKAS
  • SLIS
  • STAA
  • STTP
  • TGKA
  • VICI
  • WEHA
  • WIRG
  • WOMF
  • Home
  • BERK
  • CVX
  • CVX
  • FB
  • GOLD
  • INTC
  • MAR
  • PEP
  • PG
  • TSN
  • TWTR
  • TXN
  • Presents
  • Kenny
  • Ranks
  • Palmweekly
  • Stockbit
  • TIRA
  • Meeting
  • MBAP
  • HTUFS
  • 7Steps
  • INTA
  • Model
  • MCOL
  • ESTI
  • Intern
  • Stockbitapp
  • SONA
  • Model1
  • Pdf
  • OBMD
  • PSKT
  • DGIK
  • Data
  • Above
  • IATA
  • mm
  • Untitled
  • Capital