Adaro Energy Indonesia Tbk

adro

-0.73%

Overview

ADRO Overview

PT Adaro Energy Indonesia Tbk is engaged in mining, quarrying, mining support services, trading, transportation, warehousing and transportation support services, cargo handling (stevedoring), sea-port service activities, agriculture, construction, repair and installation of machines, power supply, water treatment, and forestry and industry. The Company’s businesses include mining, services, power, logistics, land, water, capital, and foundation. The Company, through its subsidiary, PT Adaro Indonesia (AI), is involved in coal mining operations and produces its flagship thermal coal product, Envirocoal, a sub-bituminous coal with medium calorific value (CV) and ultra-low pollutant content. Its PT Saptaindra Sejati (SIS), provides a range of services for the coal mining industry, which covers many aspects from contract mining services, civil works, and infrastructure development to land logistics. Its PT Indonesia Bulk Terminal provides services for coal and fuel handling.

51015ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: ADRO

Main
Market Cap.
IDR 84.31Trillion
#21 in Indonesia

~$5.27B USD

Industry
Coal
Sub-Industry
Coal Production
Sector
Energy
Sub-Sector

Valuation

ADRO Valuation Metrics

2,730

IDR
-0.7%

Closing Price on 2024-04-18

Price to Equity

3.05

P/E

At 3.05x P/E TTM, ADRO.JK is trading at a discount to its peers in the Oil, Gas & Coal sector.

Price to Book

0.80

P/B

At 0.80x P/B TTM, ADRO.JK is trading at a discount to its peers in the Oil, Gas & Coal sector.

Price to Sales

0.77

P/S

At 0.77x P/S TTM, ADRO.JK is trading in line with its peers in the Oil, Gas & Coal sector.

Valuing Adaro Energy Indonesia Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Oil, Gas & Coal sector

Historical Price to Earnings

Other Valuation Metrics

Valuing Adaro Energy Indonesia Tbk relative to other stocks in the Oil, Gas & Coal sector

Price/Cash Flow
3.10x
Price/Forward Earnings
6.86x
Enterprise Value/Revenue
0.51x
Enterprise Value/EBITDA
1.24x
PEG Ratio
-0.06x

Analyst Ratings

40
60
80
0
100

70.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR2,7302024-04-18
IDR 10,489.70

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of ADRO is IDR10,490, which is 285% higher than ADRO's last closing price of IDR2,730 (as of 2024-04-18).

Valuation Recap of ADRO 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 3.05x is below the ID market average of 8.46x and is trading at a discount to peers in the Oil, Gas & Coal sector (7.34x). In fact, less than 25% of its peers trade at a lower P/E ratio than ADRO.

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 0.80x is similar to the peers average of 1.05x in the Oil, Gas & Coal 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 0.77x is similar to the peers average of 0.90x in the Oil, Gas & Coal sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of ADRO's valuation relative to its current sales and future earnings growth. ADRO trades at a Forward P/E ratio of 6.86x, 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. ADRO's P/CF ratio of 3.10x is considered healthy 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. ADRO's EV/R ratio of 0.51x is considered extremely underpriced by the market The average EV/R ratio for the Oil, Gas & Coal sector is 1.12x.

Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of ADRO is IDR 10,489.70, which is 285% higher than ADRO's last closing price of IDR 2,730.00.

Peers

ADRO Peers and Comparison

Market Cap.

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
BYANBayan Resources Tbk635.83T53.35T 55.48T 19.19T 33.1421.82
DSSADian Swastatika Sentosa Tbk94.78T47.45T 77.68T 6.60T 14.364.42
ADROAdaro Energy Indonesia Tbk84.31T161.04T 109.47T 27.61T 3.050.80
CUANPT Petrindo Jaya Kreasi Tbk68.86T2.29T 1.76T 0.45T 152.9642.08
ADMRPT Adaro Minerals Indonesia Tbk57.24T26.26T 16.82T 6.83T 8.383.78
TCPIPT Transcoal Pacific Tbk.38.75T3.51T 1.83T 0.18T 213.6619.71
MEDCPT Medco Energi Internasional Tbk37.54T105.87T 33.17T 5.71T 6.571.35
AKRAPT AKR Corporindo Tbk.36.51T30.25T 42.09T 2.78T 13.133.24
PTBABukit Asam Tbk35.95T38.77T 38.49T 6.11T 5.891.68
GEMSGolden Energy Mines Tbk35.88T20.32T 44.95T 8.03T 4.473.54
Competitiveness Recap of ADRO stock
WeightNotesScore
High
At a market cap of IDR 84,305.68 billion, ADRO.JK ranks 3 in Market Cap out of 10 companies in the Energy sector.

High
At a PE of 3.05, ADRO.JK ranks 10 out of 10 companies in the Energy sector for P/E value. The average PE is 45.56 (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 Energy. In this regard, it trails behind sector leaders such as PT Transcoal Pacific Tbk. (213.66) in the Energy sector.

Medium
At a PE of 3.05, ADRO.JK is trading at a lower PE than that of its subsector peers in Oil, Gas & Coal (median of 7.34). 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 109.47 trillion, ADRO.JK ranks 1 in Revenue out of 10 companies in the Energy sector.

Medium
At a profit of IDR 27.61 trillion, ADRO.JK ranks 1 in Profit out of 10 companies in the Energy sector.

Future

Future Growth of ADRO

Growth Forecasts

ADRO 2024 Revenue Growth
-35.9%
ADRO 2024 EPS Growth
-61.6%
Sector Revenue Growth
-8.6%
Oil, Gas & Coal
Indonesia Market Growth
+7.6%
IDX overall growth
Oil, Gas & Coal Sector Revenue Growth '24
-27.6%
Energy Sector Revenue Growth '24
-27.6%

Sector Benchmark

Oil, Gas & Coal companies in Indonesia are shrinking at a projected rate of -8.57% against the IDX average of +7.6%.

Oil, Gas & Coal sector overview

ADRO Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of ADRO
WeightNotesScore
High
ADRO's projected growth rate of -8.57% is below the ID market average of 7.62%.

High
The Oil, Gas & Coal sub-sector is projected to shrink revenue by -27.58% in 2024. This number is lower than the previous year 2023's growth rate of -18.33%. false

Medium
The Oil, Gas & Coal sub-sector is projected to decrease earnings by -54.70% in 2024. This number is lower than the previous year 2023's EPS growth of -44.15%. false

Medium
ADRO and its peers in the Oil, Gas & Coal sub-sector belongs to the Energy sector. Companies in the Energy sector are projected to have a challenging year heading into 2024. Specifically, earnings are projected to decrease by -54.70% in 2024 while revenue growth is projected to decrease by -27.58%. These macroeconomic trends will likely be a headwind for ADRO's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Garibaldi Thohir15.2 years

Vice President Director

Christian Ariano Rachmat15.4 years
Michael William P. Soeryadjaya
Director
Chia Ah Hoo
Director
Mohammad Syah Indra Aman
Director
Julius Aslan
Director
NamePositionShares%
Arini Saraswaty SubiantoCommissioner79,975,7500.25
Chia Ah HooDirector9,593,5000.03
Christian Ariano RachmatVice President Director16,000,0000.05
Edwin SoeryadjajaCommissioner1,051,738,5443.29
Garibaldi ThohirPresident Director1,976,632,7106.18
Ir. Theodore Permadi RachmatVice President Commissioner812,988,6012.54
Julius AslanDirector11,000,0000.03
Expressed in millions IDR, unless otherwise stated

Ownership

ADRO Ownership

Others
36.16%
Insiders
56.28%
Institutions
7.56%
NameNumber of SharesOwnership (%)Value
Pt Adaro Strategic Investment14,045,425,50043.9138,344.01B
Public (Scripless)10,487,226,18332.7928,630.13B
Affiliate Parties2,390,625,1127.476,526.41B
Garibaldi Thohir1,976,632,7106.185,396.21B
Treasury Stock1,104,756,1003.453,015.98B
Edwin Soeryadjaja1,051,738,5443.292,871.25B
Ir. Theodore Permadi Rachmat812,988,6012.542,219.46B
Arini Saraswaty Subianto79,975,7500.25218.33B
Christian Ariano Rachmat16,000,0000.0543.68B
Julius Aslan11,000,0000.0330.03B
Chia Ah Hoo9,593,5000.0326.19B

Largest Institutional Buy

Samsung Asset Management Co Ltd
Bought 31-01-2024
+17,890,000 shares
State Street Global Advisors
Bought 31-01-2024
+13,584,797 shares
Public Mutual Berhad
Bought 31-01-2024
+6,999,934 shares

Largest Institutional Sell

Capital Research and Management Company
Sold 31-01-2024
-102,075,300 shares
Grantham, Mayo, Van Otterloo & Co., LLC
Sold 31-01-2024
-88,612,083 shares
Principal Global Investors LLC
Sold 31-01-2024
-43,024,400 shares

Institutional Transactions

Tracking institutional transactions buying / selling of ADRO stock