PT Bukalapak.com Tbk

BUKA

+1.56%

Overview

BUKA Overview

PT Bukalapak.com Tbk is an Indonesia-based company engaged in operating Web portals and digital platforms. The Company operates through three segments: Marketplace, Online to offline, and Pengadaan. The Marketplace segment is engaged in the providing features, logistics, virtual and physical products, fintech, marketing, and other marketplace services. The Online to offline segment is engaged in the sale of goods and commission fee of transactions including that occurred in Mitra Bukalapak and its ecosystem. The Pengadaan segment is engaged in procurement of goods and services. The Company’s subsidiaries include PT Buka Mitra Indonesia, PT Buka Pengadaan Indonesia, PT Buka Investasi Digital, PT Buka Usaha Indonesia, Bukalapak Pte Ltd, Buka Korea Co Ltd, and Buka Australia Pty Ltd.

2468101214ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: BUKA

New Economy
Market Cap.
IDR 13.40Trillion

~$0.84B USD

Industry
Online Applications & Services
Sub-Industry
Online Applications & Services
Sector
Technology

Valuation

BUKA Valuation Metrics

130

IDR
+1.6%

Closing Price on 2024-05-22

Price to Equity

-9.82

P/E

At -9.82x P/E TTM, BUKA.JK is trading at a discount to its peers in the Software & IT Services sector.

Price to Book

0.53

P/B

At 0.53x P/B TTM, BUKA.JK is trading at a discount to its peers in the Software & IT Services sector.

Price to Sales

3.02

P/S

At 3.02x P/S TTM, BUKA.JK is trading at a premium to its peers in the Software & IT Services sector (avg 0.7x).

Valuing PT Bukalapak.com Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Software & IT Services sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Bukalapak.com Tbk relative to other stocks in the Software & IT Services sector

Price/Cash Flow
329.51x
Price/Forward Earnings
19.15x
Enterprise Value/Revenue
-1.34x
Enterprise Value/EBITDA
4.69x
PEG Ratio
-0.15x

Analyst Ratings

40
60
80
0
100

80.0

Recommended

Neutral

Not Recommended

Valuation Recap of BUKA stock
WeightNotesScore
High
The P/E ratio is calculated by dividing the market price of a company's stock by its earnings per share (EPS). It is a key tool for investors and analysts to assess whether a stock is overvalued, undervalued, or fairly valued. A P/E ratio of -9.82x is below the ID market average of 8.70x and is trading at a discount to peers in the Software & IT Services sector (3.60x). In fact, less than 25% of its peers trade at a lower P/E ratio than BUKA.

High
The P/B ratio is calculated by dividing the market price of a company's stock by its book value per share (BVPS). It measures the company's stock value relative to its assets minus liabilities. A P/B ratio of 0.53x is below the peers average of 1.61x in the Software & IT Services sector. In fact, less than 25% of its peers trade at a lower P/B ratio than BUKA.

Medium
The P/S ratio is calculated by dividing the market price of a company's stock by its sales per share. It measures the company's stock value relative to its sales. A P/S ratio of 3.02x is above the peers average of 0.71x in the Software & IT Services sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of BUKA's valuation relative to its current sales and future earnings growth. BUKA trades at a Forward P/E ratio of 19.15x, which is considered richly valued by analysts.

Low
The Price/Cash Flow ratio (P/CF) is calculated by dividing the market price of a company's stock by its cash flow per share. It measures the company's stock value relative to its cash flow, and is sometimes said to be a more objective measure of a company's value because cash flows cannot be manipulated as easily as earnings, which considers non-cash items such as depreciation and amortization. BUKA's P/CF ratio of 329.51x is considered a relatively high ratio by analysts.

Low
The Enterprise Value/Revenue ratio (EV/R) is calculated by dividing the enterprise value of a company by its revenue. It measures the company's enterprise value relative to its revenue. It is an indicator of how much it costs to buy the company's revenue; the lower the ratio, the cheaper the company's revenue. BUKA's EV/R ratio of -1.34x is considered extremely underpriced by the market The average EV/R ratio for the Software & IT Services sector is 0.55x.

Peers

BUKA Peers and Comparison

Peer Companies

Supertype Fuzzy Search
SymbolCompany Name
Market Cap
(in Trillion IDR)
Total Assets
(in Trillion IDR)
Total Revenue
(in Trillion IDR)
Profit and Loss
(in Trillion IDR)
P/E
P/B
DCIIPT DCI Indonesia Tbk89.87T3.76T 1.31T 0.51T 175.1740.08
GOTOPT GoTo Gojek Tokopedia Tbk70.66T54.10T 14.79T -90.40T -0.781.86
BELIPT Global Digital Niaga Tbk55.94T12.84T 14.72T -3.64T -15.367.34
EMTKElang Mahkota Teknologi Tbk26.99T42.89T 9.24T -0.14T -191.760.78
BUKAPT Bukalapak.com Tbk13.40T26.12T 4.44T -1.37T -9.820.53
EDGEPT Indointernet Tbk.8.02T2.72T 0.95T 0.25T 31.695.47
MTDLMetrodata Electronics Tbk7.06T9.50T 20.92T 0.61T 11.562.05
MSTIPT Mastersystem Infotama Tbk.4.47T0.00T 0.00T 0.00T
CYBRPT ITSEC Asia Tbk.2.58T0.22T 0.00T 0.00T 26.63
MLPTPT Multipolar Technology Tbk.2.32T2.96T 3.27T 0.35T 6.633.66
Competitiveness Recap of BUKA stock
WeightNotesScore
High
At a market cap of IDR 13,404.17 billion, BUKA.JK ranks 5 in Market Cap out of 10 companies in the Technology sector.

High
At a PE of -9.82, BUKA.JK ranks 8 out of 10 companies in the Technology sector for P/E value. The average PE is 0.73 (unadjusted). A high P/E ratio often indicates higher growth expectation, or other qualitative factors that led investors to believe that the company has a defensible competitive advantage compared to its peers in Technology. In this regard, it trails behind sector leaders such as PT DCI Indonesia Tbk (175.17) in the Technology sector.

Medium
At a PE of -9.82, BUKA.JK is trading at a lower PE than that of its subsector peers in Software & IT Services (median of 3.60). A lower P/E value presents a potential value opportunity, but it might also indicate that the company is facing headwinds in its business.

Medium
At a revenue of IDR 4.44 trillion, BUKA.JK ranks 5 in Revenue out of 10 companies in the Technology sector.

Medium
At a profit of -IDR 1.37 trillion, BUKA.JK ranks 8 in Profit out of 10 companies in the Technology sector.

Future

Future Growth of BUKA

Growth Forecasts

BUKA 2024 Revenue Growth
+20.6%
BUKA 2025 Revenue Growth
+40.2%
BUKA 2024 EPS Growth
-121.3%
BUKA 2025 EPS Growth
-154.5%
Sector Revenue Growth
+34.4%
Software & IT Services
Indonesia Market Growth
+13.8%
IDX overall growth
Software & IT Services Sector Revenue Growth '24
+13.3%
Software & IT Services Sector Revenue Growth '25
+39.0%
Technology Sector Revenue Growth '24
+31.6%
Technology Sector Revenue Growth '25
+39.0%

Sector Benchmark

Software & IT Services companies in Indonesia are growing at a projected rate of 34.37% against the IDX average of +13.8%.

Software & IT Services sector overview

BUKA Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of BUKA
WeightNotesScore
High
BUKA's projected growth rate of 34.37% is above the ID market average of 13.80%.

High
The Software & IT Services sub-sector is projected to grow revenue by 39.03% in 2025. This number is higher than the previous year 2024's growth rate of 13.26%. This bodes well for BUKA's revenue growth prospects in the next 2 years.

Medium
The Software & IT Services sub-sector is projected to decrease earnings by -289.94% in 2025. This number is lower than the previous year 2024's EPS growth of -219.47%. false

Medium
BUKA and its peers in the Software & IT Services sub-sector belongs to the Technology sector. Companies in the Technology sector are projected to have a challenging year heading into 2025. Specifically, earnings are projected to decrease by -289.94% in 2025 while revenue growth is projected to increase by 39.03%. These macroeconomic trends will likely be a headwind for BUKA's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Willix Halim15.2 years
Teddy Nuryanto Oetomo
Director
Natalia Firmansyah
Director
Howard Nugraha Gani
Director
Victor Putra Lesmana
Director
NamePositionShares%
Howard Nugraha GaniDirector38,339,9100.04
Natalia FirmansyahDirector31,239,2230.03
Rd Adi Wardhana SariaatmadjaCommissioner772,585,5010.75
Teddy Nuryanto OetomoDirector158,790,3920.15
Victor Putra LesmanaDirector16,805,1300.02
Willix HalimPresident Director1,438,287,8441.4
Expressed in millions IDR, unless otherwise stated

Ownership

BUKA Ownership

Others
43.03%
Insiders
49.49%
Institutions
7.48%
NameNumber of SharesOwnership (%)Value
Public (Scripless)52,030,070,21650.476,763.91B
Pt Kreatif Media Karya25,385,649,53724.623,300.13B
Api (Hong Kong) Investment Limited13,448,351,57313.041,748.29B
Archipelago Investment Pte Ltd9,736,593,6779.441,265.76B
Willix Halim1,438,287,8441.4186.98B
Rd Adi Wardhana Sariaatmadja772,585,5010.75100.44B
Teddy Nuryanto Oetomo158,790,3920.1520.64B
Public (Scrip)43,254,0640.045.62B
Howard Nugraha Gani38,339,9100.044.98B
Natalia Firmansyah31,239,2230.034.06B
Victor Putra Lesmana16,805,1300.022.18B

Largest Institutional Buy

RWC Asset Management LLP
Bought 31-01-2024
+413,227,300 shares
Public Mutual Berhad
Bought 31-01-2024
+142,700,000 shares
Nomura Asset Management U.K. Limited
Bought 31-01-2024
+123,713,507 shares

Largest Institutional Sell

Calamos Advisors LLC
Sold 31-01-2024
-152,112,000 shares
Calamos Investments
Sold 31-01-2024
-129,819,600 shares
First Trust Advisors L.P.
Sold 31-01-2024
-119,071,350 shares

Institutional Transactions

Tracking institutional transactions buying / selling of BUKA stock