Company Valuation: PT Indosat Ooredoo Hutchison Tbk

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,36,90,388 4,97,87,189 7,55,87,642 7,99,82,011 7,48,21,881 7,22,41,817 - -
Change - 47.78% 51.82% 5.81% -6.45% -3.45% - -
Enterprise Value (EV) 1 46,807 49,787 1,24,269 1,30,394 74,822 1,16,663 1,12,607 1,14,062
Change - 6.37% 149.6% 4.93% -42.62% 55.92% -3.48% 1.29%
P/E ratio 4.99x 10.5x 16.8x 16.3x 13.6x 11.8x 10.5x 9.16x
PBR 3.67x - 2.46x 2.39x - 1.86x 1.76x 1.63x
PEG - -0.2x -3.46x 1.82x 1.1x 1.1x 0.9x 0.6x
Capitalization / Revenue 1.07x 1.06x 1.48x 1.43x 1.32x 1.21x 1.15x 1.1x
EV / Revenue 1.49x 1.06x 2.43x 2.33x 1.32x 1.95x 1.8x 1.74x
EV / EBITDA 3.37x 2.52x 5.19x 4.94x 2.81x 4.1x 3.73x 3.58x
EV / EBIT 11.9x 8.23x 13.3x 12.1x 6.95x 9.56x 8.54x 7.84x
EV / FCF 29.7x - 26.6x 20.3x - 20.2x 15.3x 13.2x
FCF Yield 3.37% - 3.76% 4.93% - 4.95% 6.53% 7.56%
Dividend per Share 3 - - 63.92 - - 115.9 142.5 173.3
Rate of return - - 2.73% - - 5.18% 6.36% 7.74%
EPS 3 310.6 146.9 139.7 152.3 170.8 190 212.5 244.6
Distribution rate - - 45.7% - - 61% 67.1% 70.9%
Net sales 1 31,388 46,752 51,229 55,887 56,518 59,844 62,657 65,515
EBITDA 1 13,886 19,754 23,938 26,375 26,597 28,431 30,215 31,888
EBIT 1 3,945 6,051 9,317 10,817 10,766 12,207 13,193 14,557
Net income 1 6,751 4,723 4,506 4,911 5,510 6,112 6,897 8,142
Net Debt 1 13,117 - 48,681 50,412 - 44,421 40,366 41,820
Reference price 3 1,550.00 1,543.75 2,343.75 2,480.00 2,320.00 2,240.00 2,240.00 2,240.00
Nbr of stocks (in thousands) 2,17,35,734 3,22,50,811 3,22,50,727 3,22,50,811 3,22,50,811 3,22,50,811 - -
Announcement Date 22/02/22 13/02/23 07/02/24 10/02/25 09/02/26 - - -
1IDR in Million2IDR in Billions3IDR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.79x1.95x4.1x5.18% 427.04Cr
20.81x3.45x8.74x1.87% 24TCr
12.62x2.68x7.17x3.83% 20TCr
8.47x4.93x26.42x0.28% 14TCr
13.85x2.24x7.28x3.01% 6.46TCr
14.86x1.35x4.75x3.82% 3.38TCr
20.77x5.49x10.04x4.51% 3.36TCr
9.46x0.41x1.63x6.77% 3TCr
20.32x3.99x8.87x5.67% 2.4TCr
15.28x2.14x5.69x4.6% 1.84TCr
Average 14.82x 2.86x 8.47x 3.96% 7.94TCr
Weighted average by Cap. 15.11x 3.27x 10.85x 2.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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