Indofood CBP Sukses Makmur Tbk

icbp

Overview

ICBP Overview

PT Indofood CBP Sukses Makmur Tbk is an Indonesia-based company, which is engaged in the consumer-branded products sector. The Company's Noodles Division is an instant noodles manufacturer. It operates about 31 noodles factories across Indonesia, Malaysia, Africa, the Middle East and Southeastern Europe. The Dairy Division has a range of products, including ultra-high temperature (UHT) milk, sterilized bottled milk, evaporated milk, pasteurized liquid milk, and UHT multi-cereal milk, among others. The Food Seasonings Division produces a range of culinary products, including recipe mixes, soy sauce, chili sauce, tomato sauce, and stock soup. The Snack Foods Division offers snacks made from potato, cassava, corn, and soybean, as well as extruded snacks. The Beverages Division produces a range of beverage products, including RTD tea, packaged water and fruit-flavored drinks marketed under the brands Ichi Ocha, Club and Fruitamin. It also has Nutrition and Special Foods Division.

51015ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: ICBP

Main
Market Cap.
IDR 126.53Trillion
#11 in Indonesia

~$8.05B USD

Industry
Processed Foods
Sub-Industry
Processed Foods
Sector
Consumer Non-Cyclicals
Sub-Sector

Valuation

ICBP Valuation Metrics

10,850

IDR

Closing Price on 2024-04-05

Price to Equity

15.17

P/E

At 15.17x P/E TTM, ICBP.JK is trading at a premium to its peers in the Food & Beverage sector (avg 12.2x).

Price to Book

3.09

P/B

At 3.09x P/B TTM, ICBP.JK is trading at a premium to its peers in the Food & Beverage sector (avg 1.2x).

Price to Sales

1.88

P/S

At 1.88x P/S TTM, ICBP.JK is trading at a premium to its peers in the Food & Beverage sector (avg 0.9x).

Valuing Indofood CBP Sukses Makmur Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Food & Beverage sector

Historical Price to Earnings

Other Valuation Metrics

Valuing Indofood CBP Sukses Makmur Tbk relative to other stocks in the Food & Beverage sector

Price/Cash Flow
12.61x
Price/Forward Earnings
13.26x
Enterprise Value/Revenue
2.29x
Enterprise Value/EBITDA
10.29x
PEG Ratio
-4.74x

Analyst Ratings

40
60
80
0
100

85.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR10,8502024-04-05
IDR 7,743.20

Slightly Lower Intrinsic Value: Analyst's intrinsic value is of ICBP is IDR7,743, which is 28% lower than ICBP's last closing price of IDR10,850 (as of 2024-04-05).

Valuation Recap of ICBP 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 15.17x is above the ID market average of 8.22x and is trading at a premium to peers in the Food & Beverage sector (12.16x).
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 3.09x is above the peers average of 1.24x in the Food & Beverage sector. ICBP trades at a higher P/B ratio than >75% of its peers in the Food & Beverage sector.
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 1.88x is above the peers average of 0.90x in the Food & Beverage sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of ICBP's valuation relative to its current sales and future earnings growth. ICBP trades at a Forward P/E ratio of 13.26x, 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. ICBP's P/CF ratio of 12.61x is considered a relatively high ratio 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. ICBP's EV/R ratio of 2.29x is considered fairly underpriced by the market The average EV/R ratio for the Food & Beverage sector is 1.41x.
Max 3
Medium
Slightly Lower Intrinsic Value: Analyst's intrinsic value is of ICBP is IDR 7,743.20, which is 28% lower than ICBP's last closing price of IDR 10,850.00.
Max 3

Peers

ICBP 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
ICBPIndofood CBP Sukses Makmur Tbk126.53T118.89T 67.20T 8.34T 15.173.09
AMRTPT Sumber Alfaria Trijaya Tbk.119.59T33.01T 104.81T 3.29T 36.309.87
UNVRUnilever Indonesia Tbk102.24T18.92T 40.19T 4.94T 20.6919.00
HMSPHM Sampoerna Tbk99.45T55.76T 142.08T 9.79T 10.163.55
PANIPT Pantai Indah Kapuk Dua Tbk.86.73T16.92T 2.13T 0.38T 225.7838.08
CPINCharoen Pokphand Indonesia Tbk86.50T41.94T 60.56T 2.42T 35.772.98
INDFIndofood Sukses Makmur Tbk57.07T188.81T 113.90T 8.80T 6.490.98
MYORMayora Indah Tbk54.11T23.42T 31.33T 2.88T 18.763.90
CMRYPT Cisarua Mountain Dairy Tbk40.07T6.59T 7.36T 1.15T 34.897.07
GGRMGudang Garam Tbk38.39T86.67T 112.51T 5.74T 6.690.64
Competitiveness Recap of ICBP stock
WeightNotesScore
High
At a market cap of IDR 126,531.62 billion, ICBP.JK ranks 1 in Market Cap out of 10 companies in the Consumer Non-Cyclicals sector.●●
Max 2
High
At a PE of 15.17, ICBP.JK ranks 7 out of 10 companies in the Consumer Non-Cyclicals sector for P/E value. The average PE is 41.07 (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 Non-Cyclicals. In this regard, it trails behind sector leaders such as PT Pantai Indah Kapuk Dua Tbk. (225.78) in the Consumer Non-Cyclicals sector.
Max 2
Medium
At a PE of 15.17, ICBP.JK is trading at a higher PE than that of its subsector peers in Food & Beverage (median of 12.16). false
Max 2
Medium
At a revenue of IDR 67.20 trillion, ICBP.JK ranks 5 in Revenue out of 10 companies in the Consumer Non-Cyclicals sector.
Max 2
Medium
At a profit of IDR 8.34 trillion, ICBP.JK ranks 3 in Profit out of 10 companies in the Consumer Non-Cyclicals sector.
Max 2

Future

Future Growth of ICBP

Growth Forecasts

ICBP 2024 Revenue Growth
+16.5%
ICBP 2024 EPS Growth
+110.5%
Sector Revenue Growth
+12.7%
Food & Beverage
Indonesia Market Growth
+12.0%
IDX overall growth
Food & Beverage Sector Revenue Growth '24
+13.2%
Consumer Non-Cyclicals Sector Revenue Growth '24
+13.2%

Sector Benchmark

Food & Beverage companies in Indonesia are growing at a projected rate of 12.66% against the IDX average of +12.0%.

Food & Beverage sector overview

ICBP Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of ICBP
WeightNotesScore
High
ICBP's projected growth rate of 12.66% is above the ID market average of 11.98%.●●●
Max 3
High
The Food & Beverage sub-sector is projected to grow revenue by 13.20% in 2024. This number is higher than the previous year 2023's growth rate of 4.97%. This bodes well for ICBP's revenue growth prospects in the next 2 years. ●●
Max 3
Medium
The Food & Beverage sub-sector is projected to increase earnings by 58.68% in 2024. This number is higher than the previous year 2023's EPS growth of 40.16%. This bodes well for ICBP's earnings growth prospects in the next 2 years. ●●●
Max 3
Medium
ICBP and its peers in the Food & Beverage sub-sector belongs to the Consumer Non-Cyclicals sector. Companies in the Consumer Non-Cyclicals sector are projected to have a fruitful year heading into 2024. Specifically, earnings are projected to increase by 53.54% in 2024 while revenue growth is projected to increase by 13.24%. These macroeconomic trends will likely be a tailwind for ICBP's earnings growth prospects in the next 2 years. ●●●
Max 3
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Management

Executive Management

President Director

Anthoni Salim15.2 years
Axton Salim
Director
Tjhie Tje Fie (Thomas Tjhie)
Director
Taufik Wiraatmadja
Director
Joedianto Soejonopoetro
Director
Hendra Widjaja
Director
Suaimi Suriady
Director
Mark Julian Wakeford
Director
Sulianto Pratama
Director
Tio Eddy Hariyanto
Director
In She
Director
NamePositionShares%
No data is available for ICBP at the moment.
Expressed in millions IDR, unless otherwise stated

Ownership

ICBP Ownership

Others
13.68%
Insiders
80.55%
Institutions
5.77%
NameNumber of SharesOwnership (%)Value
Pt Indofood Sukses Makmur Tbk9,391,678,00080.53101,899.71B
Public (Scripless)2,270,228,19219.4724,631.98B

Largest Institutional Buy

State Street Global Advisors
Bought 31-12-2023
+2,359,704 shares
Baring Asset Management Ltd
Bought 31-12-2023
+2,101,000 shares
Capital Guardian Trust Company
Bought 31-12-2023
+1,600,000 shares

Largest Institutional Sell

DNB Asset Management AS
Sold 31-12-2023
-4,185,900 shares
Samsung Asset Management Co Ltd
Sold 31-12-2023
-3,154,700 shares
Nordea Investment Management AB
Sold 31-12-2023
-2,612,600 shares

Institutional Transactions

Tracking institutional transactions buying / selling of ICBP stock