Financials PT Tower Bersama Infrastructure Tbk

Equities

TBIG

ID1000116908

Integrated Telecommunications Services

End-of-day quote INDONESIA S.E. 06:00:00 2024-05-07 pm EDT 5-day change 1st Jan Change
1,895 IDR -0.26% Intraday chart for PT Tower Bersama Infrastructure Tbk -0.26% -9.33%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 26,606,196 35,258,618 63,811,609 52,074,423 47,310,366 42,896,241 - -
Enterprise Value (EV) 2 49,041 58,625 92,608 52,074 47,310 70,460 70,214 69,996
P/E ratio 31.3 x 33.7 x 39.7 x 31.3 x 30.2 x 25.1 x 22.7 x 21.3 x
Yield - 1.96% 1.22% - - 2.4% 2.61% 2.55%
Capitalization / Revenue 5.66 x 6.62 x 10.3 x 7.98 x 7.12 x 6.2 x 5.95 x 5.8 x
EV / Revenue 10.4 x 11 x 15 x 7.98 x 7.12 x 10.2 x 9.73 x 9.46 x
EV / EBITDA 12.2 x 12.9 x 17.4 x 9.72 x 8.42 x 11.9 x 11.3 x 11 x
EV / FCF 29.7 x 33.8 x -34.2 x - - 39.8 x 29 x 43.6 x
FCF Yield 3.37% 2.96% -2.93% - - 2.52% 3.45% 2.29%
Price to Book 5.14 x 4.05 x 6.88 x - - 3.55 x 3.34 x 3.18 x
Nbr of stocks (in thousands) 21,631,054 21,631,054 21,631,054 22,641,054 22,636,539 22,636,539 - -
Reference price 3 1,230 1,630 2,950 2,300 2,090 1,895 1,895 1,895
Announcement Date 3/27/20 4/27/21 3/21/22 3/31/23 3/28/24 - - -
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 4,699 5,328 6,180 6,524 6,641 6,921 7,215 7,396
EBITDA 1 4,011 4,549 5,337 5,359 5,616 5,943 6,195 6,359
EBIT 1 3,369 3,816 4,306 4,282 4,234 4,450 4,646 4,728
Operating Margin 71.7% 71.63% 69.68% 65.64% 63.76% 64.31% 64.39% 63.93%
Earnings before Tax (EBT) 1 1,223 1,509 1,936 1,912 1,805 2,359 2,569 2,843
Net income 1 819.5 1,010 1,549 1,638 1,560 1,709 1,891 2,079
Net margin 17.44% 18.95% 25.07% 25.1% 23.5% 24.7% 26.21% 28.11%
EPS 2 39.26 48.40 74.25 73.44 69.11 75.58 83.39 89.11
Free Cash Flow 3 1,651,932 1,734,570 -2,710,962 - - 1,772,514 2,424,893 1,605,000
FCF margin 35,156.9% 32,557.64% -43,869.65% - - 25,611.46% 33,607.6% 21,700.78%
FCF Conversion (EBITDA) 41,189.6% 38,128.31% - - - 29,823.65% 39,144.7% 25,238.64%
FCF Conversion (Net income) 201,589.35% 171,803.39% - - - 103,691.43% 128,239.38% 77,210.84%
Dividend per Share 2 - 32.00 36.00 - - 45.50 49.51 48.25
Announcement Date 3/27/20 4/27/21 3/21/22 3/31/23 3/28/24 - - -
1IDR in Billions2IDR3IDR in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q2 2024 Q3 2024 Q4
Net sales 2,577 - - - - - - - - - - - -
EBITDA 1 2,211 1,390 1,408 1,418 1,405 1,128 1,397 1,485 1,443 1,330 1,506 1,512 1,520
EBIT 1,883 - - - - - - - - - - - -
Operating Margin 73.05% - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income 510.5 468 415.3 410.9 396.7 414.7 332 356.8 476.1 395.4 - - -
Net margin 19.81% - - - - - - - - - - - -
EPS - 22.43 19.91 17.63 17.48 18.42 14.81 15.76 18.97 19.57 - - -
Dividend per Share 2 - 36.00 - - - - - - - - - - 34.42
Announcement Date 7/30/20 3/21/22 5/25/22 9/12/22 11/22/22 3/31/23 5/2/23 7/31/23 11/28/23 3/28/24 - - -
1IDR in Billions2IDR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 22,435 23,367 28,796 - - 27,563 27,318 27,100
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.594 x 5.136 x 5.396 x - - 4.638 x 4.41 x 4.261 x
Free Cash Flow 2 1,651,932 1,734,570 -2,710,962 - - 1,772,514 2,424,893 1,605,000
ROE (net income / shareholders' equity) 19.6% 14.7% 17.2% - - 14% 14.5% 14.4%
ROA (Net income/ Total Assets) 2.73% 3% 3.95% - - 4.08% 4.52% 6.44%
Assets 1 29,995 33,697 39,196 - - 41,891 41,823 32,278
Book Value Per Share 3 239.0 403.0 429.0 - - 534.0 567.0 597.0
Cash Flow per Share 3 177.0 182.0 214.0 - - 187.0 217.0 -
Capex 1 2,039 2,052 7,176 - - 2,143 2,272 2,539
Capex / Sales 43.4% 38.51% 116.13% - - 30.97% 31.49% 34.33%
Announcement Date 3/27/20 4/27/21 3/21/22 3/31/23 3/28/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
15
Last Close Price
1,895 IDR
Average target price
2,272 IDR
Spread / Average Target
+19.89%
Consensus
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