SSIA.jk -22% downside SELL. Better cashflow but over valued
Mar 27, 2024 ; a simple analysis
1 Sales were 2,477 billion rupiah in the fourth quarter, + 116% from the same quarter a year ago, vs + 28% in the previous quarter.
2 Free cashflow was 258 billion rupiah from -160 billion rupiah the previous quarter & 89 billion rupiah in the same quarter a year ago.
3 The last 12 months free cashflow was 43 billion rupiah from 238 billion rupiah in the previous 12 months.
4 On total assets of 8,417 billion rupiah that’s a return of 2% for the last 6 months annualized, 1% for the last 12 months, 0% on average for the last 7 years.
5 Using a risk free rate 6% & the last 6 months return 2.3% gives a 39% target valuation of market cap / assets ( 2% / 6% ).
6 The current valuation market cap / assets 50% is higher.
7 Thus there is -22% downside for the shares to 717 rupiah. SELL.
Sharpfokus Team; +6287855572666
Mar 27, 2024 ; a simple analysis
1 Sales were 2,477 billion rupiah in the fourth quarter, + 116% from the same quarter a year ago, vs + 28% in the previous quarter.
2 Free cashflow was 258 billion rupiah from -160 billion rupiah the previous quarter & 89 billion rupiah in the same quarter a year ago.
3 The last 12 months free cashflow was 43 billion rupiah from 238 billion rupiah in the previous 12 months.
4 On total assets of 8,417 billion rupiah that’s a return of 2% for the last 6 months annualized, 1% for the last 12 months, 0% on average for the last 7 years.
5 Using a risk free rate 6% & the last 6 months return 2.3% gives a 39% target valuation of market cap / assets ( 2% / 6% ).
6 The current valuation market cap / assets 50% is higher.
7 Thus there is -22% downside for the shares to 717 rupiah. SELL.
Sharpfokus Team; +6287855572666