Company Valuation: PT Indosat Tbk

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,36,90,388 4,97,87,189 7,55,87,642 7,99,82,011 7,48,21,881 6,27,27,827 - -
Change - 47.78% 51.82% 5.81% -6.45% -16.16% - -
Enterprise Value (EV) 1 46,807 49,787 1,24,269 1,30,394 1,24,662 1,08,722 1,07,129 1,05,355
Change - 6.37% 149.6% 4.93% -4.4% -12.79% -1.47% -1.66%
P/E 4.99x 10.5x 16.8x 16.3x 13.6x 9.88x 8.99x 8.21x
PBR 3.67x - 2.46x 2.39x 2.06x 1.59x 1.53x 1.43x
PEG - -0.2x -3.46x 1.82x 1.1x 0.6x 0.91x 0.87x
Capitalization / Revenue 1.07x 1.06x 1.48x 1.43x 1.32x 1.04x 0.99x 0.95x
EV / Revenue 1.49x 1.06x 2.43x 2.33x 2.21x 1.8x 1.7x 1.59x
EV / EBITDA 3.37x 2.52x 5.19x 4.94x 4.69x 3.8x 3.53x 3.29x
EV / EBIT 11.9x 8.23x 13.3x 12.1x 11.6x 8.82x 8.07x 7.45x
EV / FCF 29.7x - 26.6x 20.3x 13.7x 26.9x 17.6x 12.6x
FCF Yield 3.37% - 3.76% 4.93% 7.3% 3.72% 5.68% 7.94%
Dividend per Share 3 - - 63.92 - - 125.1 142.2 167.3
Rate of return - - 2.73% - - 6.43% 7.31% 8.6%
EPS 3 310.6 146.9 139.7 152.3 170.8 196.9 216.4 236.8
Distribution rate - - 45.7% - - 63.5% 65.7% 70.7%
Net sales 1 31,388 46,752 51,229 55,887 56,518 60,424 63,202 66,193
EBITDA 1 13,886 19,754 23,938 26,375 26,597 28,624 30,308 31,991
EBIT 1 3,945 6,051 9,317 10,817 10,766 12,332 13,274 14,142
Net income 1 6,751 4,723 4,506 4,911 5,510 6,437 6,968 7,700
Net Debt 1 13,117 - 48,681 50,412 49,840 45,994 44,401 42,627
Reference price 3 1,550.00 1,543.75 2,343.75 2,480.00 2,320.00 1,945.00 1,945.00 1,945.00
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, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.7x1.78x3.76x6.55% 343.04Cr
-182.48x39.2x90.15x - 1,57900Cr
18.66x3.11x7.91x2.11% 21TCr
32.11x6.24x28.25x0.2% 19TCr
9.59x2.3x6.2x5.06% 15TCr
14.54x2.34x7.79x2.93% 6.72TCr
14.13x1.34x4.6x3.57% 3.56TCr
21.67x5.78x10.59x4.37% 3.38TCr
12.95x3.14x7.02x7.35% 1.87TCr
11.87x1.89x4.61x5.58% 1.78TCr
Average -3.73x 6.71x 17.09x 4.19% 23.1TCr
Weighted average by Cap. -118.58x 27.96x 65.63x 2.72%

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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