MBTO sales jump
MBTO.jk Current 139 Target 166 + 20%
11/24/2022
1 minute read
Sales grew 112%
Last 5 quarters growth, sales billion rupiah
38% 13% 16% -20% 112%
56 64 74 59 125
Margin up profit up
Last 5 quarters margin, profit billion rupiah
-9% -186% 2% -10% 5%
-17 -82 -4 -14 1
Cashflow positive
Last 5 quarters operating, investment cashflow billion rupiah
-91 -39 -12 -11 9
145 36 1 -0 0
Net cash down
Last 5 quarters cash, liabilities billion rupiah
27 3 3 3 11
474 274 275 308 337
Capital paid
Last 5 quarters capital from liabilities, equity billion rupiah
30 22 -11 -12 1
0 0 0 0 0
11/24/2022
1 minute read
- Last 12 months sales growth + 123%
- Last 12 months cash flow -11% of market cap
- Last 12 months Capital + 0% of market cap
- Latest net cash -219% of market cap
Sales grew 112%
Last 5 quarters growth, sales billion rupiah
38% 13% 16% -20% 112%
56 64 74 59 125
- Sales grew 112% in the third quarter to 125 billion rupiah our forecasts v sales is 3% now.
- This brings the average to 30% growth.
- We predict average growth of 2% in this next 12 months to bring sales to 134 billion rupiah in the third quarter 2023.
Margin up profit up
Last 5 quarters margin, profit billion rupiah
-9% -186% 2% -10% 5%
-17 -82 -4 -14 1
- The cash margin went from -10% to 5% profit from -14 to 1 billion rupiah in the third quarter.
- The average cash margin is at -47% now.
- We use a 5% cash margin to predict a 0 billion rupiah profit in the third quarter 2023.
Cashflow positive
Last 5 quarters operating, investment cashflow billion rupiah
-91 -39 -12 -11 9
145 36 1 -0 0
- Free cashflow went from -12 to 9 billion rupiah in the third quarter with 0 billion rupiah investment cashflow.
- Average quarterly Cashflow is at -4 billion rupiah now.
- We assume 0 billion rupiah investment spending which with higher sales gives 7 billion rupiah average Cashflow in the next 12 months.
Net cash down
Last 5 quarters cash, liabilities billion rupiah
27 3 3 3 11
474 274 275 308 337
- Cash increased 3 to 11 billion rupiah in the third quarter.
- Liabilities increased 308 to 337 billion rupiah so net cash was down -305 to -326 billion rupiah .
- With our forecast cashflow & a 0 billion rupiah equity payout -27 billion rupiah liabilities net cash will be -299 billion rupiah in 12 months time.
Capital paid
Last 5 quarters capital from liabilities, equity billion rupiah
30 22 -11 -12 1
0 0 0 0 0
- MBTO.jk paid 1 billion rupiah in the third quarter 1 billion rupiah liabilities 0 billion rupiah equity & will pay 27 billion rupiah this next 12 months.
- At the current market value of 149 billion rupiah based on our forecasts it’s at 0.20 X assets with a 28 years payback & a 0% yield.
- Our cashflow forecast is 27 billion rupiah which means a 5 X valuation. A 6.5 X valuation gives a 20% higher target price 166 rupiah.
