PT Aspirasi Hidup Indonesia Tbk

Overview

ACES Overview

PT Ace Hardware Indonesia Tbk is an Indonesia-based company, which is a retailer of household appliances, home improvement and lifestyle products. Its home improvement products include outdoor living, paint and sundries, plumbing supplies, and fixtures, electrical, tools and miscellaneous. The lifestyle products include automotive, furniture, houseware and gifts, sporting goods and pet supplies and home appliances. The Company’s products are marketed under various trademark brands, including ACE, Krisbow, and Kris. The Company owns investment properties in the form of land and buildings in Balikpapan and Tangerang, namely Living Plaza Balikpapan, Living Plaza Bintaro and Alam Sutera. It has 228 retail outlets which are located in Jakarta, Tangerang, Cilegon, Serang, Bekasi, Karawang, Bogor, Depok, Purwakarta, Cirebon, Bandung, Sumedang, Tasikmalaya, Sukabumi, Gresik, Yogyakarta, Semarang, Kudus, Purwokerto, Mojokerto, Tegal, Surabaya, Malang, Jember, Kediri, Aceh, Bali and others.

5101520ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: ACES

Main
Market Cap.
IDR 13.87Trillion

~$0.85B USD

Industry
Specialty Retail
Sub-Industry
Home Improvement Retail
Sector
Consumer Cyclicals
Sub-Sector

Valuation

ACES Valuation Metrics

810

IDR
0.0%

Closing Price on 2024-07-18

Price to Equity

17.12

P/E

At 17.12x P/E TTM, ACES.JK is trading at a premium to its peers in the Retailing sector (avg 11.3x).

Price to Book

2.18

P/B

At 2.18x P/B TTM, ACES.JK is trading at a premium to its peers in the Retailing sector (avg 0.8x).

Price to Sales

1.75

P/S

At 1.75x P/S TTM, ACES.JK is trading at a premium to its peers in the Retailing sector (avg 0.4x).

Valuing PT Aspirasi Hidup Indonesia Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Retailing sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Aspirasi Hidup Indonesia Tbk relative to other stocks in the Retailing sector

Price/Cash Flow13.48x
Price/Forward Earnings13.63x
Enterprise Value/Revenue1.58x
Enterprise Value/EBITDA7.95x
PEG Ratio0.58x

Intrinsic Value

Last closing: IDR8102024-07-18
IDR 720.77

Fairly Close to Intrinsic Value: Analyst's intrinsic value is of ACES is IDR721, which is 10% lower than ACES's last closing price of IDR810 (as of 2024-07-18).

Valuation Recap of ACES 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 17.12x is above the ID market average of 8.32x and is trading at a premium to peers in the Retailing sector (11.28x).

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 2.18x is above the peers average of 0.75x in the Retailing sector. ACES trades at a higher P/B ratio than >75% of its peers in the Retailing sector.

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 1.75x is above the peers average of 0.40x in the Retailing sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of ACES's valuation relative to its current sales and future earnings growth. ACES trades at a Forward P/E ratio of 13.63x, which is considered fairly undervalued 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. ACES's P/CF ratio of 13.48x 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. ACES's EV/R ratio of 1.58x is considered fairly underpriced by the market. The average EV/R ratio for the Retailing sector is 0.70x.

Medium
Fairly Close to Intrinsic Value: Analyst's intrinsic value is of ACES is IDR 720.77, which is 10% lower than ACES's last closing price of IDR 810.00.

Peers

ACES 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
MASAMultistrada Arah Sarana Tbk54.87T8.00T 7.71T 1.09T 50.478.76
FILMPT MD Pictures Tbk.39.66T1.73T 0.36T 0.10T 403.2924.27
MSINPT MNC Digital Entertainment Tbk33.86T6.79T 2.89T 0.27T 124.265.78
MAPIMitra Adiperkasa Tbk23.16T28.22T 34.70T 1.90T 12.172.22
MAPAPT MAP Aktif Adiperkasa Tbk.20.81T11.50T 14.53T 1.40T 14.913.47
CNMAPT Nusantara Sejahtera Raya Tbk19.00T7.54T 3.61T 0.42T 45.573.90
ACESPT Aspirasi Hidup Indonesia Tbk13.87T8.01T 7.90T 0.81T 17.122.18
SMSMSelamat Sempurna Tbk11.37T4.85T 4.98T 0.94T 12.133.31
TRIOTrikomsel Oke Tbk11.08T0.11T 0.82T -0.14T -81.11-2.95
KPIGMNC Land Tbk10.54T33.54T 1.40T 0.34T 31.070.40
Competitiveness Recap of ACES stock
WeightNotesScore
High
At a market cap of IDR 13,867.52 billion, ACES.JK ranks 7 in Market Cap out of 10 companies in the Consumer Cyclicals sector.

High
At a PE of 17.12, ACES.JK ranks 6 out of 10 companies in the Consumer Cyclicals sector for P/E value. The average PE is 62.99 (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 Consumer Cyclicals. In this regard, it trails behind sector leaders such as PT MD Pictures Tbk. (403.29) in the Consumer Cyclicals sector.

Medium
At a PE of 17.12, ACES.JK is trading at a higher PE than that of its subsector peers in Retailing (median of 11.28). false

Medium
At a revenue of IDR 7.90 trillion, ACES.JK ranks 3 in Revenue out of 10 companies in the Consumer Cyclicals sector.

Medium
At a profit of IDR 0.81 trillion, ACES.JK ranks 5 in Profit out of 10 companies in the Consumer Cyclicals sector.

Future

Future Growth of ACES

Growth Forecasts

Analyst Ratings

Based on ratings from 13 analysts for ACES over the past 3 months.

Strong Buy

Strong Buy

61.5%

Buy

15.4%

Hold

15.4%

Sell

0.0%

Strong Sell

7.7%

Last Update: 2024-07-10

Sector Benchmark

Retailing companies in Indonesia are growing at a projected rate of 22.95% against the IDX average of +13.8%.

Retailing sector overview

ACES Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of ACES
WeightNotesScore
High
ACES's projected growth rate of 22.95% is above the ID market average of 13.82%.

High
The Retailing sub-sector is projected to grow revenue by 30.74% in 2025. This number is higher than the previous year 2024's growth rate of 13.40%. This bodes well for ACES's revenue growth prospects in the next 2 years.

Medium
The Retailing sub-sector is projected to increase earnings by 30.13% in 2025. This number is higher than the previous year 2024's EPS growth of 8.29%. This bodes well for ACES's earnings growth prospects in the next 2 years.

Medium
ACES and its peers in the Retailing sub-sector belongs to the Consumer Cyclicals sector. Companies in the Consumer Cyclicals sector are projected to have a fruitful year heading into 2025. Specifically, earnings are projected to increase by 52.80% in 2025 while revenue growth is projected to increase by 19.51%. These macroeconomic trends will likely be a tailwind for ACES's earnings growth prospects in the next 2 years.

Technical

Daily Technical Ratings of ACES

Oscillators

Sell

Sell

2

Neutral

9

Buy

0

Summary

Strong Sell

Sell

15

Neutral

10

Buy

1

Moving Averages

Strong Sell

Sell

13

Neutral

1

Buy

1

Summary

Technical Ratings of ACES
IndicatorSummarySellNeutralBuy
SummaryStrong Sell15101
OscillatorsSell290
Moving AveragesStrong Sell1311

Last Update: 2024-07-18

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Management

Executive Management

President Director

Prabowo Widya Krisnadi15.2 years
Sugiyanto WibawaDirector
SuharnoDirector
Gregory Sugyono WidjajaDirector
Teresa Lucia WibowoDirector
NamePositionShares%Stock Value
(in Billion IDR)
Gregory Sugyono WidjajaDirector94,100< 0.010.08B
Kuncoro WibowoPresident Commissioner100,000< 0.010.08B
SuharnoDirector600,000< 0.010.49B
Teresa Lucia WibowoDirector983,000< 0.010.80B

Ownership

ACES Ownership

NameNumber of SharesOwnership (%)Value
Pt Kawan Lama Sejahtera10,255,289,70059.88,306.78B
Public (Scripless)6,863,322,90040.025,559.29B
Treasury Stock29,610,3000.1723.98B
Teresa Lucia Wibowo983,0000.010.80B

Largest Institutional Buy

AHAM Asset Management Berhad
Bought 31-01-2024
+37,454,500 shares
Nomura Asset Management Co Ltd
Bought 31-01-2024
+18,913,400 shares
State Street Global Advisors
Bought 31-01-2024
+6,628,923 shares

Largest Institutional Sell

FIL Fund Management Limited
Sold 31-01-2024
-153,471,900 shares
Grandeur Peak Global Advisors, LLC
Sold 31-01-2024
-119,367,700 shares
Fidelity Management & Research Company LLC
Sold 31-01-2024
-93,137,385 shares

Institutional Transactions

Tracking institutional transactions buying / selling of ACES stock

Sustainability

Environmental, Social, and Governance (ESG) Risk Assessment

The ESG Risk Ratings measure ACES's exposure to industry-specific material ESG risks and how well ACES is managing those risks.

ESG Risk Rating

10
20
30
40
0
100

19.6

Low Risk

Negligible

Low

Medium

High

Severe

ESG Risk Ranking among Retailing Peers

1st rank = lowest risk

312

/ 516 peers worldwide

Global ESG Risk Ranking

4,622

/ 16,216 all companies worldwide

Top Material ESG Issues

  • Corporate Governance
  • Data Privacy and Cybersecurity
  • Human Capital
  • Carbon - Own Operations

Last Full Update: 2024-04-22

Last Update: 2024-05-23

Source: Sustainalytics, Inc.

ACES Filings

No noteworthy filings to report on

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