POWR at break even
POWR Current 680 Target 743 + 9%
Aug 12, 2022
1 minute read
Sales grew 3%
Last 5 quarters growth & sales million dollars
-1% -2% 4% 1% 3%
129 126 131 132 136
Costs up profit down
Last 5 quarters cost ratio & profit million dollars
-74% -71% -70% -71% -77%
21 26 24 24 17
Cashflow break even
Last 5 quarters operating & investment million dollars
21 41 37 15 43
-33 17 -63 -42 -44
Net cash down
Last 5 quarters cash & liabilities million dollars
267 326 278 251 247
665 670 660 646 697
Capital flat
Last 5 quarters cumulative capital , liabilities & equity
171 171 194 194 194
0 0 0 0 0
41 0 23 0 0
Aug 12, 2022
1 minute read
- Last 12 months cash flow + 0% of market cap
- Last 12 months Capital + 0% of market cap
- Latest net cash -2% of market cap
Sales grew 3%
Last 5 quarters growth & sales million dollars
-1% -2% 4% 1% 3%
129 126 131 132 136
- Sales grew 3% in the second quarter to 136 million dollars ; our forecasts v sales is 0% now.
- This brings the average to 1% growth.
- We predict average growth of 2% in this next 12 months to bring sales to 144 million dollars in the second quarter 2023.
Costs up profit down
Last 5 quarters cost ratio & profit million dollars
-74% -71% -70% -71% -77%
21 26 24 24 17
- The cash cost ratio went from -71% to -77% profit from 24 to 17 million dollars in the second quarter.
- The average cost ratio is at -72% now.
- We use a -71% cost ratio to predict a 27 million dollars profit in the second quarter 2023.
Cashflow break even
Last 5 quarters operating & investment million dollars
21 41 37 15 43
-33 17 -63 -42 -44
- Free cashflow went from -27 to -0 million dollars in the second quarter with -44 investment cashflow.
- Average quarterly Cashflow is at 1 million dollars now.
- We assume -33 million dollars investment cashflow which with higher sales gives 7 million dollars average Cashflow in the next 12 months.
Net cash down
Last 5 quarters cash & liabilities million dollars
267 326 278 251 247
665 670 660 646 697
- Cash declined 251 to 247 million dollars in the second quarter.
- Liabilities increased 646 to 697 million dollars so net cash was down -395 to -450 million dollars .
- With our forecast cashflow & a -21 million dollars equity payout -8 million dollars liabilities payment net cash will be -442 million dollars in 12 months time.
Capital flat
Last 5 quarters cumulative capital , liabilities & equity
171 171 194 194 194
0 0 0 0 0
41 0 23 0 0
- POWR cumulative capital was flat at 194 million dollars with 0 & 0 million dollars from liabilities, equity in the second quarter but will be 222 million dollars in12 months time.
- At the current market value of 680 million dollars based on our forecasts it’s at 0.51 X assets with a 41 years payback & a 0% yield.
- Our cashflow forecast is 26 million dollars which means a 26 X valuation. A 27 X valuation gives a 9% higher target price 743 rupiah.
