PT Indosat Tbk

isat

Overview

ISAT Overview

PT Indosat Tbk is an Indonesia-based company that provides telecommunications, informatics and/or convergence technology services. The Company operates through three segments: cellular, fixed telecommunications (fixed) and multimedia, Internet, and data communication (MIDI). Together with its subsidiaries, such as PT Indosat Mega Media (IM2) and PT Aplikanusa Lintasarta, it offers a range of fixed data or MIDI services, such as Internet protocol-virtual private network (IPVPN), leased line, Internet services and information technology (IT) services to corporate segments. Its MIDI services consist of Internet and data communication services, including high-speed point-to-point and point-to-multipoint international and domestic ethernet link and Internet with broadband and narrowband capacity, IPVPN and multiprotocol label switching-based services (MPLS). The Company provides cellular, fixed data and wireless broadband services as well as fixed telecommunication or fixed voice offerings.

51015ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: ISAT

Main
Market Cap.
IDR 90.71Trillion
#20 in Indonesia

~$5.77B USD

Industry
Wireless Telecommunication Services
Sub-Industry
Wireless Telecommunication Services
Sector
Infrastructures

Valuation

ISAT Valuation Metrics

11,250

IDR

Closing Price on 2024-04-05

Price to Equity

23.73

P/E

At 23.73x P/E TTM, ISAT.JK is trading in line with its peers in the Telecommunication sector.

Price to Book

3.12

P/B

At 3.12x P/B TTM, ISAT.JK is trading at a premium to its peers in the Telecommunication sector (avg 1.2x).

Price to Sales

1.83

P/S

At 1.83x P/S TTM, ISAT.JK is trading at a discount to its peers in the Telecommunication sector.

Valuing PT Indosat Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Telecommunication sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Indosat Tbk relative to other stocks in the Telecommunication sector

Price/Cash Flow
5.37x
Price/Forward Earnings
14.60x
Enterprise Value/Revenue
2.76x
Enterprise Value/EBITDA
5.57x
PEG Ratio
0.22x

Analyst Ratings

40
60
80
0
100

80.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR11,2502024-04-05
IDR 4,363.13

Considerably Lower Intrinsic Value: Analyst's intrinsic value is of ISAT is IDR4,363, which is 60% lower than ISAT's last closing price of IDR11,250 (as of 2024-04-05).

Valuation Recap of ISAT 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 23.73x is above the ID market average of 8.22x and is trading at a premium to peers in the Telecommunication sector (21.52x).
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 3.12x is above the peers average of 1.24x in the Telecommunication sector. ISAT trades at a higher P/B ratio than >75% of its peers in the Telecommunication 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 1.83x is below the peers average of 4.20x in the Telecommunication sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of ISAT's valuation relative to its current sales and future earnings growth. ISAT trades at a Forward P/E ratio of 14.60x, 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. ISAT's P/CF ratio of 5.37x 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. ISAT's EV/R ratio of 2.76x is considered fairly underpriced by the market The average EV/R ratio for the Telecommunication sector is 7.21x. ●●
Max 3
Medium
Considerably Lower Intrinsic Value: Analyst's intrinsic value is of ISAT is IDR 4,363.13, which is 60% lower than ISAT's last closing price of IDR 11,250.00.
Max 3

Peers

ISAT 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
EXCLPT XL Axiata Tbk30.07T86.10T 31.41T 1.14T 26.401.15
Competitiveness Recap of ISAT stock
WeightNotesScore
High
At a market cap of IDR 90,705.15 billion, ISAT.JK ranks 3 in Market Cap out of 10 companies in the Infrastructures sector.
Max 2
High
At a PE of 23.73, ISAT.JK ranks 5 out of 10 companies in the Infrastructures sector for P/E value. The average PE is 20.52 (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 23.73, ISAT.JK is trading at a higher PE than that of its subsector peers in Telecommunication (median of 21.52). false
Max 2
Medium
At a revenue of IDR 49.68 trillion, ISAT.JK ranks 2 in Revenue out of 10 companies in the Infrastructures sector.●●
Max 2
Medium
At a profit of IDR 3.82 trillion, ISAT.JK ranks 3 in Profit out of 10 companies in the Infrastructures sector.
Max 2

Future

Future Growth of ISAT

Growth Forecasts

ISAT 2024 Revenue Growth
+15.1%
ISAT 2024 EPS Growth
-5.3%
Sector Revenue Growth
+15.1%
Telecommunication
Indonesia Market Growth
+12.0%
IDX overall growth
Telecommunication Sector Revenue Growth '24
+11.3%
Infrastructures Sector Revenue Growth '24
+11.2%

Sector Benchmark

Telecommunication companies in Indonesia are growing at a projected rate of 15.07% against the IDX average of +12.0%.

Telecommunication sector overview

ISAT Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of ISAT
WeightNotesScore
High
ISAT's projected growth rate of 15.07% is above the ID market average of 11.98%.●●●
Max 3
High
The Telecommunication sub-sector is projected to grow revenue by 11.28% in 2024. This number is higher than the previous year 2023's growth rate of 4.65%. This bodes well for ISAT's revenue growth prospects in the next 2 years. ●●
Max 3
Medium
The Telecommunication sub-sector is projected to increase earnings by 23.79% in 2024. This number is higher than the previous year 2023's EPS growth of 10.96%. This bodes well for ISAT's earnings growth prospects in the next 2 years. ●●●
Max 3
Medium
ISAT and its peers in the Telecommunication 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 ISAT's earnings growth prospects in the next 2 years. ●●●
Max 3
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Management

Executive Management

President Director

Vikram Sinha15.2 years
Lee Chi Hung
Director
Muhammad Buldansyah
Director
Irsyad Sahroni
Director
Cheung Kwok Tung
Director
Ritesh Kumar Singh
Director
Ahmad Zulfikar
Director
NamePositionShares%
Muhammad BuldansyahDirector245,000< 0.01
Expressed in millions IDR, unless otherwise stated

Ownership

ISAT Ownership

Others
10.35%
Insiders
83.61%
Institutions
6.04%
NameNumber of SharesOwnership (%)Value
Ooredoo Hutchison Asia Pte. Ltd5,292,710,75265.6459,543.00B
Public (Scripless)1,320,019,85516.3714,850.22B
Pt Perusahaan Pengelola Aset (Persero)776,624,9999.638,737.03B
Pt Tiga Telekomunikasi Indonesia671,755,0888.337,557.24B
Public (Scrip)1,326,1450.0214.92B

Largest Institutional Buy

Capital Research and Management Company
Bought 31-12-2023
+9,980,900 shares
Capital Guardian Trust Company
Bought 31-12-2023
+8,750,500 shares
Capital International Inc
Bought 31-12-2023
+8,750,500 shares

Largest Institutional Sell

Vanguard Group Inc
Sold 31-12-2023
-17,187,100 shares
JPMorgan Asset Management (Europe) S.à r.l.
Sold 31-12-2023
-8,925,500 shares
JPMorgan Asset Management (Asia Pacific) Limited
Sold 31-12-2023
-8,221,997 shares

Institutional Transactions

Tracking institutional transactions buying / selling of ISAT stock