PT Adhi Karya (Persero) Tbk.

adhi

Overview

ADHI Overview

PT Adhi Karya (Persero) Tbk is an Indonesia-based company, which is engaged in the field of construction, energy and industrial, property, real estate, infrastructure investment, the implementation of railway infrastructure and facilities, procurement of goods and hotel service. The Company operates through four segments. The Engineering and Construction segment consists of the civil construction services business sector, which includes the design of the construction of infrastructure facilities. Property and Hospitality is the Company’s business segment, which consists of property businesses, such as apartments and landed houses, as well as hotels. Manufacturing consists of construction support business sectors with products, such as precast and ready mix. Investments and Concessions are the Company’s business segments, which consist of long-term investment projects and concession assets. Its subsidiaries include PT Adhi Persada Properti, PT Adhi Persada Beton and others.

51015ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: ADHI

Main
Market Cap.
IDR 2.37Trillion

~$150.89M USD

Industry
Heavy Constructions & Civil Engineering
Sub-Industry
Heavy Constructions & Civil Engineering
Sector
Infrastructures

Valuation

ADHI Valuation Metrics

282

IDR

Closing Price on 2024-04-05

Price to Equity

28.31

P/E

At 28.31x P/E TTM, ADHI.JK is trading at a premium to its peers in the Heavy Constructions & Civil Engineering sector (avg 6.2x).

Price to Book

0.28

P/B

At 0.28x P/B TTM, ADHI.JK is trading at a discount to its peers in the Heavy Constructions & Civil Engineering sector.

Price to Sales

0.15

P/S

At 0.15x P/S TTM, ADHI.JK is trading at a discount to its peers in the Heavy Constructions & Civil Engineering sector.

Valuing PT Adhi Karya (Persero) Tbk. based on its trailing twelve months (TTM) valuation metrics against its peers in the Heavy Constructions & Civil Engineering sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Adhi Karya (Persero) Tbk. relative to other stocks in the Heavy Constructions & Civil Engineering sector

Price/Cash Flow
1.40x
Price/Forward Earnings
1.23x
Enterprise Value/Revenue
0.70x
Enterprise Value/EBITDA
10.87x
PEG Ratio
9.26x

Analyst Ratings

40
60
80
0
100

100.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR2822024-04-05
IDR 78.51

Considerably Lower Intrinsic Value: Analyst's intrinsic value is of ADHI is IDR79, which is 71% lower than ADHI's last closing price of IDR282 (as of 2024-04-05).

Valuation Recap of ADHI 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 28.31x is above the ID market average of 8.22x and is trading at a premium to peers in the Heavy Constructions & Civil Engineering sector (6.25x). In fact, less than 25% of its peers trade at a higher P/E ratio than ADHI.
Max 3
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 0.28x is similar to the peers average of 0.65x in the Heavy Constructions & Civil Engineering sector. In fact, less than 25% of its peers trade at a lower P/B ratio than ADHI.●●
Max 3
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 0.15x is similar to the peers average of 0.33x in the Heavy Constructions & Civil Engineering sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of ADHI's valuation relative to its current sales and future earnings growth. ADHI trades at a Forward P/E ratio of 1.23x, which is considered fairly undervalued by analysts.
Max 2
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. ADHI's P/CF ratio of 1.40x is considered healthy by analysts.●●
Max 2
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. ADHI's EV/R ratio of 0.70x is considered extremely underpriced by the market The average EV/R ratio for the Heavy Constructions & Civil Engineering sector is 1.32x. ●●●
Max 3
Medium
Considerably Lower Intrinsic Value: Analyst's intrinsic value is of ADHI is IDR 78.51, which is 71% lower than ADHI's last closing price of IDR 282.00.
Max 3

Peers

ADHI 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
BRENPT Barito Renewables Energy Tbk.926.47T0.00T 0.00T 0.00T
TLKMPT Telkom Indonesia (Persero) Tbk339.78T276.21T 149.67T 23.67T 14.352.60
ISATPT Indosat Tbk90.71T112.21T 49.68T 3.82T 23.733.12
MTELPT Dayamitra Telekomunikasi Tbk52.05T56.35T 8.40T 1.99T 26.171.56
PGEOPT Pertamina Geothermal Energy Tbk49.37T43.54T 6.20T 2.25T 21.911.72
SUPRSolusi Tunas Pratama Tbk45.39T9.47T 1.88T 0.97T 47.028.49
TOWRSarana Menara Nusantara Tbk42.58T68.22T 11.65T 3.31T 12.872.67
TBIGPT Tower Bersama Infrastructure Tbk42.33T43.76T 6.56T 1.53T 27.613.98
JSMRPT Jasa Marga Tbk39.92T124.90T 18.94T 7.71T 5.171.47
WSKTPT Waskita Karya (Persero) Tbk5.82T96.54T 12.82T -4.73T -1.230.93
Competitiveness Recap of ADHI stock
WeightNotesScore
High
At a market cap of IDR 2,370.95 billion, ADHI.JK ranks 10 in Market Cap out of 10 companies in the Infrastructures sector.
Max 2
High
At a PE of 28.31, ADHI.JK ranks 2 out of 10 companies in the Infrastructures sector for P/E value. The average PE is 20.71 (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 Infrastructures. In this regard, it trails behind sector leaders such as Solusi Tunas Pratama Tbk (47.02) in the Infrastructures sector.●●
Max 2
Medium
At a PE of 28.31, ADHI.JK is trading at a higher PE than that of its subsector peers in Heavy Constructions & Civil Engineering (median of 6.25). false●●
Max 2
Medium
At a revenue of IDR 15.86 trillion, ADHI.JK ranks 4 in Revenue out of 10 companies in the Infrastructures sector.
Max 2
Medium
At a profit of IDR 0.08 trillion, ADHI.JK ranks 9 in Profit out of 10 companies in the Infrastructures sector.
Max 2

Future

Future Growth of ADHI

Growth Forecasts

ADHI 2024 Revenue Growth
+15.6%
ADHI 2024 EPS Growth
0.0%
Sector Revenue Growth
+24.5%
Heavy Constructions & Civil Engineering
Indonesia Market Growth
+12.0%
IDX overall growth
Heavy Constructions & Civil Engineering Sector Revenue Growth '24
+26.3%
Infrastructures Sector Revenue Growth '24
+11.2%

Sector Benchmark

Heavy Constructions & Civil Engineering companies in Indonesia are growing at a projected rate of 24.52% against the IDX average of +12.0%.

Heavy Constructions & Civil Engineering sector overview

ADHI Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of ADHI
WeightNotesScore
High
ADHI's projected growth rate of 24.52% is above the ID market average of 11.98%.●●●
Max 3
High
The Heavy Constructions & Civil Engineering sub-sector is projected to grow revenue by 26.30% in 2024. This number is higher than the previous year 2023's growth rate of 14.34%. This bodes well for ADHI's revenue growth prospects in the next 2 years. ●●●
Max 3
Medium
The Heavy Constructions & Civil Engineering sub-sector is projected to increase earnings by 163.76% in 2024. This number is lower than the previous year 2023's EPS growth of 372.27%. This bodes well for ADHI's earnings growth prospects in the next 2 years. ●●
Max 3
Medium
ADHI and its peers in the Heavy Constructions & Civil Engineering sub-sector belongs to the Infrastructures sector. Companies in the Infrastructures sector are projected to have a fruitful year heading into 2024. Specifically, earnings are projected to increase by 25.05% in 2024 while revenue growth is projected to increase by 11.23%. These macroeconomic trends will likely be a tailwind for ADHI's earnings growth prospects in the next 2 years. ●●●
Max 3
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Management

Executive Management

President Director

Entus Asnawi Mukhson15.2 years
A. Suko Widigdo
Director
Pundjung Setya Brata
Director
Vera Kirana
Director
A.A.G. Agung Dharmawan
Director
Agus Karianto
Director
NamePositionShares%
No data is available for ADHI at the moment.
Expressed in millions IDR, unless otherwise stated

Ownership

ADHI Ownership

Others
41.89%
Insiders
53.51%
Institutions
4.6%
NameNumber of SharesOwnership (%)Value
Republic Of Indonesia5,408,773,79264.331,525.27B
Public (Scripless)2,998,825,18735.67845.67B

Largest Institutional Buy

Vanguard Investments Australia Ltd
Bought 31-01-2024
+586 shares

Largest Institutional Sell

Dimensional Fund Advisors LP
Sold 31-01-2024
-3,560,853 shares
PT Eastspring Investment Indonesia
Sold 31-01-2024
-2,689,000 shares
American Century Investment Management Inc
Sold 31-01-2024
-85,400 shares

Institutional Transactions

Tracking institutional transactions buying / selling of ADHI stock