Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 8.3% - 7.2% | 7.8% |
| Terminal Revenue Multiple | 2.3x - 2.6x | 2.4x |
| Fair Value | Rp1,887 - Rp2,130 | Rp2,006 |
| Upside | 49.2% - 68.4% | 58.6% |
| Select Revenue and EBITDA Forecast | ||||||
| (IDR in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 35,138,643 | 34,513,293 | 35,621,000 | 36,240,000 | 36,240,000 | 36,240,000 |
| % Growth | -9.0% | -1.8% | 3.2% | 1.7% | 0.0% | 0.0% |
| EBITDA | 5,130,056 | 5,271,301 | 5,616,957 | 5,950,000 | 5,950,000 | 5,950,000 |
| % of Revenue | 14.6% | 15.3% | 15.8% | 16.4% | 16.4% | 16.4% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (IDR in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 5,271,301 | 5,616,957 | 5,950,000 | 5,950,000 | 5,950,000 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (704,601) | (894,457) | (914,000) | (725,000) | (617,500) | |
| EBIT | 4,566,700 | 4,722,500 | 5,036,000 | 5,225,000 | 5,332,500 | |
| Pro forma Taxes | (1,050,341) | (1,086,175) | (1,158,280) | (1,201,750) | (1,226,475) | |
| NOPAT | 3,404,610 | 3,516,359 | 3,636,325 | 3,877,720 | 4,023,250 | 4,106,025 |
| Capital Expenditures | (1,072,728) | (928,250) | (900,000) | (938,000) | (895,000) | (947,000) |
| NWC Investment | (565,523) | (101,835) | 180,385 | 100,801 | 0 | 0 |
| (+) D&A | 708,484 | 704,601 | 894,457 | 914,000 | 725,000 | 617,500 |
| Free Cash Flow | 2,474,844 | 3,190,875 | 3,811,167 | 3,954,521 | 3,853,250 | 3,776,525 |
| % Growth | 29% | 19% | 4% | -3% | -2% | |