Other stocks here
IPCC looking sharp with record average Cashflow
IPCC Current 610 Target 1,188 + 95%
May 25, 2022
1 minute read
Sales declined seasonally -11%
Last 5 quarters
12% -5% 1% 48% -11%
Costs up profit down
Last 5 quarters
-64% -80% -76% -59% -60%
Cashflow lower
Last 5 quarters billion rupiah
61, 72, 29, 99, 64
Balance sheet net cash improved
Last 5 quarters billion rupiah
-277 -203 -153 -129 -86
Capital raised flat , a 95% higher target price
Last 5 quarters billion rupiah
-404 -404 -404 -392 -392
May 25, 2022
1 minute read
Sales declined seasonally -11%
Last 5 quarters
12% -5% 1% 48% -11%
- Sales declined seasonally -11% in the first quarter to 150 billion rupiah 22% above our 123 billion rupiah forecast.
- This brings the average to 8% growth.
- We predict average growth of 4% in this next 12 months to bring sales to 174 billion rupiah in the first quarter 2023.
Costs up profit down
Last 5 quarters
-64% -80% -76% -59% -60%
- The cash cost ratio went from -59% to -60% profit from 44 to 35 billion rupiah in the first quarter.
- The average cost ratio is at -69% now.
- We use a -65% cost ratio to predict a 37 billion rupiah profit in the first quarter 2023.
Cashflow lower
Last 5 quarters billion rupiah
61, 72, 29, 99, 64
- Free cashflow went from 99 to 64 billion rupiah in the first quarter with -5 billion rupiah investment spending.
- Average quarterly Cashflow is at 66 billion rupiah now.
- We assume the same -5 billion rupiah investment spending which with higher sales gives 56 billion rupiah Cashflow in the first quarter 2023.
Balance sheet net cash improved
Last 5 quarters billion rupiah
-277 -203 -153 -129 -86
- Cash increased 769 to 833 billion rupiah in the first quarter.
- Liabilities increased 898 to 919 billion rupiah so net cash improved -129 to -86 billion rupiah .
- With our forecast cashflow & a -41 billion rupiah equity payout -170 billion rupiah liabilities payment net cash will be plus 89 billion rupiah in 12 months time.
Capital raised flat , a 95% higher target price
Last 5 quarters billion rupiah
-404 -404 -404 -392 -392
- IPCC 21 quarter capital raised was flat at -392 billion rupiah in the first quarter but will be -428 billion rupiah in12 months time.
- At the current market value of 1,109 billion rupiah based on our forecasts it’s at 0.57 X assets with a 5 years payback & a 4% yield.
- Our cashflow forecast is 216 billion rupiah which means a 5 X valuation. A 10 X valuation gives a 95% higher target price 1,188 rupiah.