Matahari Department Store Tbk

lppf

Overview

LPPF Overview

PT Matahari Department Store Tbk is an Indonesia-based company engaged in operating Matahari Department Store, a department store chain, in Indonesia. The Company carries out retail business activities. It offers a range of products, both under its own exclusive brands and on a consignment basis that include apparel, accessories, bags, shoes, cosmetics, household appliances, cosmetics and accessories, handbags, and sports fashion. homeware. It operates approximately 139 stores located throughout the Archipelago. The Company operates a digital outlet and an e-commerce platform, Matahari.com. Its stores offer a selection of products in contemporary models, including men’s and women’s fashion products, as well as children’s and baby supplies.

5101520ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: LPPF

Main
Market Cap.
IDR 2.19Trillion

~$139.66M USD

Industry
Department Stores
Sub-Industry
Department Stores
Sector
Consumer Cyclicals
Sub-Sector

Valuation

LPPF Valuation Metrics

1,870

IDR

Closing Price on 2024-04-05

Price to Equity

2.29

P/E

At 2.29x P/E TTM, LPPF.JK is trading at a discount to its peers in the Retailing sector.

Price to Book

623.79

P/B

At 623.79x P/B TTM, LPPF.JK is trading at a premium to its peers in the Retailing sector (avg 0.9x).

Price to Sales

0.34

P/S

At 0.34x P/S TTM, LPPF.JK is trading at a discount to its peers in the Retailing sector.

Valuing Matahari Department Store 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 Matahari Department Store Tbk relative to other stocks in the Retailing sector

Price/Cash Flow
1.18x
Price/Forward Earnings
4.67x
Enterprise Value/Revenue
0.89x
Enterprise Value/EBITDA
2.62x
PEG Ratio
-0.02x

Analyst Ratings

40
60
80
0
100

30.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR1,8702024-04-05
IDR 4,640.56

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of LPPF is IDR4,641, which is 149% higher than LPPF's last closing price of IDR1,870 (as of 2024-04-05).

Valuation Recap of LPPF 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 2.29x is below the ID market average of 8.22x and is trading at a discount to peers in the Retailing sector (14.28x). In fact, less than 25% of its peers trade at a lower P/E ratio than LPPF.●●●
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 623.79x is above the peers average of 0.92x in the Retailing sector. LPPF trades at a higher P/B ratio than >75% of its peers in the Retailing 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 0.34x is similar to the peers average of 0.52x in the Retailing sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of LPPF's valuation relative to its current sales and future earnings growth. LPPF trades at a Forward P/E ratio of 4.67x, 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. LPPF's P/CF ratio of 1.18x 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. LPPF's EV/R ratio of 0.89x is considered extremely underpriced by the market The average EV/R ratio for the Retailing sector is 1.21x. ●●●
Max 3
Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of LPPF is IDR 4,640.56, which is 149% higher than LPPF's last closing price of IDR 1,870.00.●●●
Max 3

Peers

LPPF 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 Tbk54.91T7.51T 7.08T 0.87T 62.989.41
FILMPT MD Pictures Tbk.45.84T1.71T 0.35T 0.09T 495.5928.31
MSINPT MNC Digital Entertainment Tbk35.19T6.80T 2.97T 0.21T 171.186.14
MAPIMitra Adiperkasa Tbk31.26T24.58T 32.43T 2.10T 14.873.27
MAPAPT MAP Aktif Adiperkasa Tbk.28.93T9.24T 12.56T 1.41T 20.545.44
CNMAPT Nusantara Sejahtera Raya Tbk19.84T7.08T 0.88T -0.02T -811.294.46
ACESAce Hardware Indonesia Tbk16.26T7.43T 7.36T 0.80T 20.372.78
SMSMSelamat Sempurna Tbk11.20T4.52T 5.01T 0.90T 12.393.57
TRIOTrikomsel Oke Tbk11.08T0.09T 0.68T -0.11T -99.53-3.05
ERAAErajaya Swasembada Tbk7.07T21.56T 57.35T 0.83T 8.551.02
Competitiveness Recap of LPPF stock
WeightNotesScore
High
At a market cap of IDR 2,194.48 billion, LPPF.JK ranks 10 in Market Cap out of 10 companies in the Consumer Cyclicals sector.
Max 2
High
At a PE of 2.29, LPPF.JK ranks 8 out of 10 companies in the Consumer Cyclicals sector for P/E value. The average PE is -11.06 (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. (495.59) in the Consumer Cyclicals sector.
Max 2
Medium
At a PE of 2.29, LPPF.JK is trading at a lower PE than that of its subsector peers in Retailing (median of 14.28). A lower P/E value presents a potential value opportunity, but it might also indicate that the company is facing headwinds in its business.
Max 2
Medium
At a revenue of IDR 6.47 trillion, LPPF.JK ranks 5 in Revenue out of 10 companies in the Consumer Cyclicals sector.
Max 2
Medium
At a profit of IDR 0.96 trillion, LPPF.JK ranks 3 in Profit out of 10 companies in the Consumer Cyclicals sector.
Max 2

Future

Future Growth of LPPF

Growth Forecasts

LPPF 2024 Revenue Growth
+24.6%
LPPF 2024 EPS Growth
-22.2%
Sector Revenue Growth
+25.2%
Retailing
Indonesia Market Growth
+12.0%
IDX overall growth
Retailing Sector Revenue Growth '24
+35.6%
Consumer Cyclicals Sector Revenue Growth '24
+33.1%

Sector Benchmark

Retailing companies in Indonesia are growing at a projected rate of 25.19% against the IDX average of +12.0%.

Retailing sector overview

LPPF Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of LPPF
WeightNotesScore
High
LPPF's projected growth rate of 25.19% is above the ID market average of 11.98%.●●●
Max 3
High
The Retailing sub-sector is projected to grow revenue by 35.59% in 2024. This number is higher than the previous year 2023's growth rate of 16.44%. This bodes well for LPPF's revenue growth prospects in the next 2 years. ●●●
Max 3
Medium
The Retailing sub-sector is projected to increase earnings by 22.09% in 2024. This number is higher than the previous year 2023's EPS growth of 5.73%. This bodes well for LPPF's earnings growth prospects in the next 2 years. ●●●
Max 3
Medium
LPPF 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 2024. Specifically, earnings are projected to increase by 21.68% in 2024 while revenue growth is projected to increase by 33.11%. These macroeconomic trends will likely be a tailwind for LPPF's earnings growth prospects in the next 2 years. ●●●
Max 3
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Management

Executive Management

President Director

Bunjamin Jonatan Mailool15.2 years

Vice President Director

Terence Donald O Connor15.4 years
Niraj Jain
Director
Irwin Abuthan
Director
Herni Dian Anggreani
Director
Rachel Fiona Stack
Director
NamePositionShares%
Terence Donald O ConnorVice President Director3,303,3000.15
Expressed in millions IDR, unless otherwise stated

Ownership

LPPF Ownership

Others
43.86%
Insiders
51.91%
Institutions
4.23%
NameNumber of SharesOwnership (%)Value
Public (Scripless)1,085,768,00048.042,030.39B
Auric Digital Retail Pte Ltd960,021,79642.471,795.24B
Pt Multipolar Tbk209,992,0009.29392.69B
Terence Donald O Connor3,303,3000.156.18B
Treasury Stock1,000,0000.041.87B
Public (Scrip)207,7840.010.39B

Largest Institutional Buy

I.C.M. InvestmentBank AG
Bought 31-12-2023
+2,880,000 shares
AMP Capital Investors Limited
Bought 31-12-2023
+507,537 shares
Manulife Investment Management (M) Berhad
Bought 31-12-2023
+161,300 shares

Largest Institutional Sell

WisdomTree Asset Management Inc
Sold 31-12-2023
-15,131,600 shares
FIL Fund Management Limited
Sold 31-12-2023
-14,728,469 shares
AllianceBernstein Corporation
Sold 31-12-2023
-10,390,800 shares

Institutional Transactions

Tracking institutional transactions buying / selling of LPPF stock