Other stocks here
WSKT dull but some improving…
WSKT Current 515 Target 521 + 1%
Jul 28, 2022
1 minute read
Sales grew 22%
Last 5 quarters billion rupiah
2,046 2,408 5,099 2,748 3,342
Costs down profit up
Last 5 quarters
-81% -91% -133% -129% -60%
Cashflow lower
Last 5 quarters billion rupiah
1,976 -2,774 -4,368 -1,701 -2,252
Balance sheet net cash improved
Last 5 quarters billion rupiah
-86,093 -87,841 -74,974 -75,698 -66,104
12 months capital -123% of market cap
Last 5 quarters billion rupiah
-78,765 -79,977 -95,461 -94,381 -97,080
Jul 28, 2022
1 minute read
Sales grew 22%
Last 5 quarters billion rupiah
2,046 2,408 5,099 2,748 3,342
- Sales grew 22% in the second quarter to 3,342 billion rupiah 11% above our 3,023 billion rupiah forecast.
- This brings the average to 26% growth.
- We predict average growth of 14% in this next 12 months to bring sales to 4,969 billion rupiah in the second quarter 2023.
Costs down profit up
Last 5 quarters
-81% -91% -133% -129% -60%
- The cash cost ratio went from -129% to -60% profit from -968 to 1,262 billion rupiah in the second quarter.
- The average cost ratio is at -103% now.
- We use a -97% cost ratio to predict a 100 billion rupiah profit in the second quarter 2023.
Cashflow lower
Last 5 quarters billion rupiah
1,976 -2,774 -4,368 -1,701 -2,252
- Free cashflow went from -1,701 to -2,252 billion rupiah in the second quarter with -1,985 billion rupiah investment spending.
- Average quarterly Cashflow is at -2,774 billion rupiah -75%
- We assume lower -113 billion rupiah investment spending which with higher sales gives positive 53 billion rupiah Cashflow in the second quarter 2023.
Balance sheet net cash improved
Last 5 quarters billion rupiah
-86,093 -87,841 -74,974 -75,698 -66,104
- Cash increased 10,384 to 11,103 billion rupiah in the second quarter.
- Liabilities declined 86,082 to 77,207 billion rupiah so net cash improved -75,698 to -66,104 billion rupiah .
- With our forecast cashflow & a 0 billion rupiah equity payout -192 billion rupiah liabilities payment net cash will be -65,912 billion rupiah in 12 months time.
12 months capital -123% of market cap
Last 5 quarters billion rupiah
-78,765 -79,977 -95,461 -94,381 -97,080
- WSKT 30 quarter capital worsened -94,381 to -97,080 billion rupiah in the second quarter with -2,698 billion rupiah from liabilities 0 billion rupiah from equity but will be -96,887 billion rupiah in12 months time.
- At the current market value of 14,836 billion rupiah based on our forecasts it’s at 0.15 X assets with a 448 years payback & a 0% yield.
- Our cashflow forecast is 192 billion rupiah which means a 77 X valuation. A 78 X valuation gives a 1% higher target price 521 rupiah.
