Other stocks here
LSIP looking sharp with lots of cash & a 7% yield forecast
WATCH THE VIDEO
LSIP Current 1,470 Target 2,796 +90%
March 2 2022
1 minute read
Sales grew 2%
Last 5 quarters
77% -5% -18% 18% 2%
Costs up profit down
Last 5 quarters
-59% -67% -71% -69% -72%
Cashflow jumped higher
Last 5 quarters billion rupiah
308, 424, 289, 308, 523
Balance sheet more cash!
Last 5 quarters billion rupiah
322, 543, 869, 997, 1,689
Capital paid up slightly, a 7% yield & 90% higher target price
Last 5 quarters billion rupiah
1,459, 1,460, 1,462, 1,599, 1,600
March 2 2022
1 minute read
Sales grew 2%
Last 5 quarters
77% -5% -18% 18% 2%
- Sales grew 2% in the fourth quarter to 1,187 billion rupiah below) our 1,278 billion rupiah forecast.
- This brings the quarterly average to -1% growth.
- We predict faster average growth of 5% in this next 12 months to bring sales to 1,427 billion rupiah in the fourth quarter 2022.
Costs up profit down
Last 5 quarters
-59% -67% -71% -69% -72%
- The cash cost ratio went from -69% to -72% profit from 251 to 239 billion rupiah in the fourth quarter.
- The average cost ratio is at -70% now.
- We use the average -70% cost ratio to predict a 336 billion rupiah profit in the fourth quarter 2022.
Cashflow jumped higher
Last 5 quarters billion rupiah
308, 424, 289, 308, 523
- Free cashflow jumped from 308 to 523 billion rupiah in the fourth quarter even with higher -111 billion rupiah investment spending.
- Average quarterly Cashflow is at 386 billion rupiah now.
- We assume lower -97 billion rupiah investment spending which with higher sales gives a 335 billion rupiah Cashflow in the fourth quarter 2022.
Balance sheet more cash!
Last 5 quarters billion rupiah
322, 543, 869, 997, 1,689
- Cash increased 2,848 to 3,368 billion rupiah in the fourth quarter.
- Liabilities declined 1,851 to 1,679 billion rupiah so net cash improved 997 to 1,689 billion rupiah
- With our forecast cashflow & a -718 billion rupiah equity payout -311 billion rupiah liabilities payment net cash will be 2,162 billion rupiah in 12 months time.
Capital paid up slightly, a 7% yield & 90% higher target price
Last 5 quarters billion rupiah
1,459, 1,460, 1,462, 1,599, 1,600
- LSIP 28 quarters capital paid improved 1,599 to 1,600 billion rupiah in the fourth quarter with a -1 billion rupiah liabilities payment & will be 2,630 billion rupiah in12 months time.
- At the current market value of 10,025 billion rupiah based on our forecasts it’s at 0.83 X assets with a 7 years payback & a 7% yield.
- Our cashflow forecast is 1,192 billion rupiah which means an 8 X valuation. A 16 X valuation gives a 90% higher target price of 2,796 rupiah.