Financials PT. Media Nusantara Citra Tbk

Equities

MNCN

ID1000106206

Broadcasting

End-of-day quote INDONESIA S.E. Other stock markets 03:30:00 08/05/2024 am IST			5-day change	1st Jan Change
346 ^IDR	-2.81%		+2.98%	-10.36%

30/04	PT. Media Nusantara Citra Tbk Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02/04	PT. Media Nusantara Citra Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,01,79,555	1,50,81,244	1,19,04,445	97,88,100	51,05,684	45,76,598	-	-
Enterprise Value (EV) ²	24,021	18,095	13,332	9,788	5,106	2,399	101.2	4,577
P/E ratio	9.06 x	8.26 x	5.01 x	4.76 x	4.94 x	3.48 x	2.91 x	-
Yield	0.92%	0.7%	-	-	-	5.53%	6.52%	-
Capitalization / Revenue	2.42 x	1.9 x	1.24 x	1.08 x	0.66 x	0.53 x	0.47 x	-
EV / Revenue	2.88 x	2.27 x	1.39 x	1.08 x	0.66 x	0.28 x	0.01 x	-
EV / EBITDA	6.47 x	5.44 x	3.53 x	2.97 x	2.24 x	0.74 x	0.03 x	-
EV / FCF	20.8 x	22.9 x	6.64 x	5.27 x	-	3.26 x	0.1 x	5.49 x
FCF Yield	4.8%	4.37%	15.1%	19%	-	30.7%	979%	18.2%
Price to Book	2 x	1.02 x	0.7 x	0.51 x	-	-	-	-
Nbr of stocks (in thousands)	1,23,80,095	1,32,29,162	1,32,27,162	1,32,27,162	1,32,27,162	1,32,27,162	-	-
Reference price ³	1,630	1,140	900.0	740.0	386.0	346.0	346.0	346.0
Announcement Date	07/02/20	31/05/21	13/04/22	24/03/23	02/04/24	-	-	-

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	8,353	7,956	9,622	9,065	7,783	8,658	9,778	-
EBITDA ¹	3,713	3,327	3,772	3,295	2,276	3,224	3,669	-
EBIT ¹	3,259	2,820	3,438	2,918	1,888	2,254	2,803	-
Operating Margin	39.01%	35.45%	35.73%	32.18%	24.26%	26.03%	28.66%	-
Earnings before Tax (EBT) ¹	2,939	2,340	3,212	2,782	1,320	2,222	2,522	-
Net income ¹	2,233	1,748	2,377	2,056	1,033	1,445	1,783	-
Net margin	26.74%	21.96%	24.71%	22.68%	13.27%	16.68%	18.23%	-
EPS ²	179.8	138.0	179.7	155.5	78.08	99.47	118.7	-
Free Cash Flow ³	11,53,261	7,90,634	20,08,183	18,56,545	-	7,35,500	9,91,200	8,33,000
FCF margin	13,805.95%	9,937.28%	20,871.09%	20,479.89%	-	8,494.78%	10,137.24%	-
FCF Conversion (EBITDA)	31,056.64%	23,761.77%	53,233.64%	56,342.02%	-	22,815.54%	27,016.2%	-
FCF Conversion (Net income)	51,638.95%	45,243.23%	84,470.35%	90,281.32%	-	50,916.1%	55,597.94%	-
Dividend per Share ²	15.00	8.000	-	-	-	19.14	22.55	-
Announcement Date	07/02/20	31/05/21	13/04/22	24/03/23	02/04/24	-	-	-

¹IDR in Billions²IDR³IDR in Million

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q3	2023 Q4
Net sales ¹	-	1,735
EBITDA	-	-
EBIT ¹	-	599.8
Operating Margin	-	34.57%
Earnings before Tax (EBT)	-	-
Net income ¹	124.3	162.2
Net margin	-	9.35%
EPS	9.400	-
Dividend per Share	-	-
Announcement Date	31/10/23	02/04/24

¹IDR in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,842	3,013	1,428	-	-	-	-	-
Net Cash position ¹	-	-	-	-	-	2,178	4,475	-
Leverage (Debt/EBITDA)	1.035 x	0.9056 x	0.3785 x	-	-	-	-	-
Free Cash Flow ²	11,53,261	7,90,634	20,08,183	18,56,545	-	7,35,500	9,91,200	8,33,000
ROE (net income / shareholders' equity)	20.8%	13.6%	15.3%	11.3%	-	7.8%	8.22%	-
ROA (Net income/ Total Assets)	13.1%	9.51%	11.8%	9.5%	-	6.35%	6.5%	-
Assets ¹	17,087	18,379	20,146	21,648	-	22,749	27,428	-
Book Value Per Share	815.0	1,118	1,282	1,445	-	-	-	-
Cash Flow per Share	139.0	109.0	201.0	196.0	-	-	-	-
Capex ¹	571	589	652	730	-	1,075	1,138	-
Capex / Sales	6.83%	7.4%	6.78%	8.05%	-	12.42%	11.64%	-
Announcement Date	07/02/20	31/05/21	13/04/22	24/03/23	02/04/24	-	-	-

¹IDR in Billions²IDR in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for PT. Media Nusantara Citra Tbk

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

346 IDR

Average target price

598.8 IDR

Spread / Average Target

+73.05%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Television Broadcasting

	1st Jan change	Capi.
PT. MEDIA NUSANTARA CITRA TBK	-10.36%	285M
FOX CORPORATION	+12.61%	15.01B
NEXSTAR MEDIA GROUP, INC.	+9.92%	5.68B
RTL GROUP S.A.	-14.62%	4.97B
NIPPON TELEVISION HOLDINGS, INC.	+37.45%	3.41B
SUN TV NETWORK LIMITED	-6.00%	3.16B
TEGNA INC.	-0.33%	2.59B
M6 MÉTROPOLE TÉLÉVISION	+2.94%	1.8B
NINE ENTERTAINMENT CO. HOLDINGS LIMITED	-25.00%	1.6B
PT ELANG MAHKOTA TEKNOLOGI TBK	-29.49%	1.58B

Television Broadcasting