PT ACE HARDWARE INDONESIA TBK Financials PT Ace Hardware Indonesia Tbk
Equities
ACES
ID1000125503
Home Improvement Products & Services Retailers
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 875 IDR | -1.69% |
|
-3.85% | +21.53% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 25,590,286 | 29,305,299 | 21,914,099 | 8,491,713 | 12,326,681 | 14,980,341 | - | - |
| Enterprise Value (EV) 2 | 24,291 | 27,086 | 19,370 | 7,067 | 10,889 | 13,467 | 13,543 | 13,585 |
| P/E ratio | 24.8 x | 40 x | 31.1 x | 12.8 x | 16.1 x | 17.3 x | 15.5 x | 13.6 x |
| Yield | 1.21% | 1.06% | 2.51% | - | - | 3.11% | 3.34% | 3.63% |
| Capitalization / Revenue | 3.14 x | 3.95 x | 3.35 x | 1.26 x | 1.62 x | 1.78 x | 1.63 x | 1.47 x |
| EV / Revenue | 2.98 x | 3.65 x | 2.96 x | 1.04 x | 1.43 x | 1.6 x | 1.48 x | 1.33 x |
| EV / EBITDA | 19 x | 27.2 x | 20.7 x | 5.92 x | 8.18 x | 11.2 x | 10.3 x | 9.38 x |
| EV / FCF | 24.6 x | 19.7 x | 15.9 x | 13.8 x | 8.88 x | 22.9 x | 18.6 x | 20.9 x |
| FCF Yield | 4.06% | 5.08% | 6.3% | 7.24% | 11.3% | 4.37% | 5.38% | 4.78% |
| Price to Book | 5.41 x | 5.64 x | 4 x | 1.44 x | 2.01 x | 2.25 x | 2.1 x | 1.94 x |
| Nbr of stocks (in thousands) | 17,117,248 | 17,087,638 | 17,120,390 | 17,120,390 | 17,120,390 | 17,120,390 | - | - |
| Reference price 3 | 1,495 | 1,715 | 1,280 | 496.0 | 720.0 | 875.0 | 875.0 | 875.0 |
| Announcement Date | 4/21/20 | 5/5/21 | 3/30/22 | 3/31/23 | 4/1/24 | - | - | - |
1IDR in Million2IDR in Billions3IDR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,143 | 7,413 | 6,543 | 6,763 | 7,612 | 8,398 | 9,166 | 10,178 |
| EBITDA 1 | 1,279 | 995.2 | 936.9 | 1,194 | 1,332 | 1,201 | 1,311 | 1,448 |
| EBIT 1 | 1,163 | 853.1 | 787.7 | 746.7 | 863.1 | 1,047 | 1,147 | 1,333 |
| Operating Margin | 14.28% | 11.51% | 12.04% | 11.04% | 11.34% | 12.47% | 12.52% | 13.1% |
| Earnings before Tax (EBT) 1 | 1,280 | 923.3 | 858.9 | 820.8 | 953 | 1,112 | 1,256 | 1,408 |
| Net income 1 | 1,030 | 733.2 | 704.4 | 664.3 | 763.5 | 870.3 | 1,007 | 1,137 |
| Net margin | 12.65% | 9.89% | 10.76% | 9.82% | 10.03% | 10.36% | 10.98% | 11.17% |
| EPS 2 | 60.33 | 42.86 | 41.18 | 38.83 | 44.63 | 50.53 | 56.35 | 64.16 |
| Free Cash Flow 3 | 986,666 | 1,375,619 | 1,220,977 | 511,349 | 1,226,349 | 588,400 | 729,000 | 650,000 |
| FCF margin | 12,117.16% | 18,557.43% | 18,659.77% | 7,561.2% | 16,111.02% | 7,006.63% | 7,953.18% | 6,386.4% |
| FCF Conversion (EBITDA) | 77,150.44% | 138,225.53% | 130,322.84% | 42,816.61% | 92,073.64% | 48,986.39% | 55,598.99% | 44,899.84% |
| FCF Conversion (Net income) | 95,783% | 187,619.64% | 173,339.55% | 76,970.65% | 160,620.43% | 67,610.81% | 72,424.17% | 57,180.56% |
| Dividend per Share 2 | 18.10 | 18.10 | 32.15 | - | - | 27.20 | 29.25 | 31.78 |
| Announcement Date | 4/21/20 | 5/5/21 | 3/30/22 | 3/31/23 | 4/1/24 | - | - | - |
1IDR in Billions2IDR3IDR in Million
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|
| Net sales 1 | 1,849 | - | - | - | 1,859 | 2,118 |
| EBITDA | - | - | - | - | - | - |
| EBIT 1 | 432.1 | - | - | - | 195.5 | 328 |
| Operating Margin | 23.37% | - | - | - | 10.52% | 15.49% |
| Earnings before Tax (EBT) | - | - | - | - | - | - |
| Net income | - | - | - | - | 183.4 | - |
| Net margin | - | - | - | - | 9.87% | - |
| EPS | 22.31 | 8.970 | 5.200 | 6.390 | - | - |
| Dividend per Share | - | - | 20.59 | - | - | - |
| Announcement Date | 3/30/22 | 4/30/22 | 7/29/22 | 11/1/22 | 10/31/23 | 4/1/24 |
1IDR in Billions
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,300 | 2,220 | 2,544 | 1,425 | 1,437 | 1,513 | 1,438 | 1,395 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 2 | 986,666 | 1,375,619 | 1,220,977 | 511,349 | 1,226,349 | 588,400 | 729,000 | 650,000 |
| ROE (net income / shareholders' equity) | 23% | 14.9% | 13.2% | 11.6% | 12.7% | 13.3% | 14.4% | 14.8% |
| ROA (Net income/ Total Assets) | 18.3% | 10.6% | 9.76% | 9.21% | 10.2% | 11.1% | 11.9% | 12.3% |
| Assets 1 | 5,621 | 6,944 | 7,218 | 7,210 | 7,501 | 7,867 | 8,428 | 9,280 |
| Book Value Per Share 3 | 276.0 | 304.0 | 320.0 | 344.0 | 359.0 | 389.0 | 416.0 | 452.0 |
| Cash Flow per Share 3 | 67.90 | 89.90 | 76.30 | 36.20 | 79.30 | 32.10 | 61.90 | 69.00 |
| Capex 1 | 173 | 163 | 84.4 | 107 | 130 | 169 | 260 | 238 |
| Capex / Sales | 2.12% | 2.2% | 1.29% | 1.59% | 1.71% | 2.01% | 2.83% | 2.34% |
| Announcement Date | 4/21/20 | 5/5/21 | 3/30/22 | 3/31/23 | 4/1/24 | - | - | - |
1IDR in Billions2IDR in Million3IDR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
D+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
875
IDR
Average target price
940.3
IDR
Spread / Average Target
+7.46%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +21.53% | 934M | |
| +0.26% | 344B | |
| +6.00% | 6B | |
| -12.82% | 3.65B | |
| +23.45% | 3.57B | |
| -3.86% | 2.25B | |
| +2.82% | 1.86B | |
| +6.77% | 1.73B | |
| -25.46% | 1.77B | |
| +15.08% | 1.29B |
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