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INTA Sharp with a 3X valuation
INTA Current 74 Target 128 + 73%
Jul 10, 2022
1 minute read
Sales grew 1%
Last 5 quarters
30% -3% 16% 4% 1%
Costs down profit up
Last 5 quarters
-97% -78% -98% -118% -88%
Cashflow higher
Last 5 quarters billion rupiah
6, 42, 5, 4, 17
Balance sheet net cash worsened
Last 5 quarters billion rupiah
-4,100 -4,092 -4,139 -4,102 -4,114
Capital paid improved , a 73% higher target price
Last 5 quarters billion rupiah
266, 281, 296, 311, 318
Jul 10, 2022
1 minute read
Sales grew 1%
Last 5 quarters
30% -3% 16% 4% 1%
- Sales grew 1% in the first quarter to 169 billion rupiah, 17% higher than a year ago.
- This brings the average to 4% growth.
- We predict average growth of 7% in this next 12 months to bring sales to 216 billion rupiah in the first quarter 2023.
Costs down profit up
Last 5 quarters
-97% -78% -98% -118% -88%
- The cash cost ratio went from -118% to -88% profit from -249 to -27 billion rupiah in the first quarter.
- The average cost ratio is at -96% now.
- We use the average -96% cost ratio to predict a -0 billion rupiah profit in the first quarter 2023.
Cashflow higher
Last 5 quarters billion rupiah
6, 42, 5, 4, 17
- Free cashflow went from 4 to 17 billion rupiah in the first quarter with -1 billion rupiah investment spending.
- Average quarterly Cashflow is at 17 billion rupiah now.
- We assume 15 billion rupiah investment gains which with higher sales gives 22 billion rupiah Cashflow in the first quarter 2023.
Balance sheet net cash worsened
Last 5 quarters billion rupiah
-4,100 -4,092 -4,139 -4,102 -4,114
- Cash increased 31 to 45 billion rupiah in the first quarter.
- Liabilities increased 4,132 to 4,159 billion rupiah so net cash worsened -4,102 to -4,114 billion rupiah .
- With our forecast cashflow & a 0 billion rupiah equity payout -771 billion rupiah liabilities payment net cash will be -4,028 billion rupiah in 12 months time.
Capital paid improved , a 73% higher target price
Last 5 quarters billion rupiah
266, 281, 296, 311, 318
- INTA 13 quarter capital paid improved 311 to 318 billion rupiah in the first quarter with + 7 billion rupiah from liabilities 0 billion rupiah from equity & will be 403 billion rupiah in12 months time.
- At the current market value of 247 billion rupiah based on our forecasts it’s at only 0.11 X assets with a 28 years payback & a 0% yield.
- Our cashflow forecast is 86 billion rupiah which means a 3 X valuation. A 5 X valuation gives a 73% higher target price 128 rupiah.
