Mitra Adiperkasa Tbk

mapi

Overview

MAPI Overview

PT Mitra Adiperkasa Tbk is an Indonesia-based lifestyle retailer. The Company’s business activities comprise mainly of retail trading of clothing, shoes, accessories, bags, and sports equipment. It has a diversified portfolio that includes sports, fashion, department stores, kids, food and beverage, and lifestyle products. Its brands include Starbucks, Zara, Marks & Spencer, SOGO, SEIBU, Oshkosh B’Gosh, Converse, among many others. Its segments include retail sales, department stores, cafe and restaurant, and others. The Company's retail sales segment is engaged in trading of clothes and accessories; trading of sports equipment and accessories, trading of toys and accessories, cellular phones, tablets, computers and accessories, and garment manufacture as supporting business of retail. Its other segment include property, investment, bookstore, handicraft trading, and manufacturing.

51015ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: MAPI

Main
Market Cap.
IDR 24.31Trillion

~$1.49B USD

Industry
Specialty Retail
Sub-Industry
Apparel & Textile Retail
Sector
Consumer Cyclicals
Sub-Sector

Valuation

MAPI Valuation Metrics

1,470

IDR
0.0%

Closing Price on 2024-06-14

Price to Equity

12.78

P/E

At 12.78x P/E TTM, MAPI.JK is trading at a premium to its peers in the Retailing sector (avg 10.8x).

Price to Book

2.33

P/B

At 2.33x P/B TTM, MAPI.JK is trading at a premium to its peers in the Retailing sector (avg 0.7x).

Price to Sales

0.70

P/S

At 0.70x P/S TTM, MAPI.JK is trading at a premium to its peers in the Retailing sector (avg 0.3x).

Valuing Mitra Adiperkasa 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 Mitra Adiperkasa Tbk relative to other stocks in the Retailing sector

Price/Cash Flow
11.17x
Price/Forward Earnings
9.44x
Enterprise Value/Revenue
0.86x
Enterprise Value/EBITDA
4.68x
PEG Ratio
5.48x

Analyst Ratings

40
60
80
0
100

80.0

Recommended

Neutral

Not Recommended

Last closing: IDR1,4702024-06-14
IDR 1,098.58

Slightly Lower Intrinsic Value: Analyst's intrinsic value is of MAPI is IDR1,099, which is 24% lower than MAPI's last closing price of IDR1,470 (as of 2024-06-14).

Valuation Recap of MAPI 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 12.78x is above the ID market average of 8.07x and is trading at a premium to peers in the Retailing sector (10.84x).

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 2.33x is above the peers average of 0.70x in the Retailing sector. MAPI trades at a higher P/B ratio than >75% of its peers in the Retailing 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 0.70x is similar to the peers average of 0.32x in the Retailing sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of MAPI's valuation relative to its current sales and future earnings growth. MAPI trades at a Forward P/E ratio of 9.44x, 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. MAPI's P/CF ratio of 11.17x is considered a relatively high ratio 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. MAPI's EV/R ratio of 0.86x is considered extremely underpriced by the market The average EV/R ratio for the Retailing sector is 0.55x.

Medium
Slightly Lower Intrinsic Value: Analyst's intrinsic value is of MAPI is IDR 1,098.58, which is 24% lower than MAPI's last closing price of IDR 1,470.00.

Peers

MAPI 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 Tbk55.71T8.00T 7.71T 1.09T 51.248.89
FILMPT MD Pictures Tbk.40.23T1.73T 0.36T 0.10T 409.0724.62
MSINPT MNC Digital Entertainment Tbk35.80T6.79T 2.89T 0.27T 131.386.11
MAPIMitra Adiperkasa Tbk24.31T28.22T 34.70T 1.90T 12.782.33
MAPAPT MAP Aktif Adiperkasa Tbk.21.24T11.50T 14.53T 1.40T 15.213.54
CNMAPT Nusantara Sejahtera Raya Tbk17.33T7.54T 3.61T 0.42T 41.573.55
ACESAce Hardware Indonesia Tbk14.63T8.01T 7.90T 0.81T 18.072.31
TRIOTrikomsel Oke Tbk11.08T0.11T 0.82T -0.14T -81.11-2.95
SMSMSelamat Sempurna Tbk10.08T4.85T 4.98T 0.94T 10.752.94
AUTOAstra Otoparts Tbk8.94T20.26T 18.27T 1.88T 4.740.65
Competitiveness Recap of MAPI stock
WeightNotesScore
High
At a market cap of IDR 24,313.21 billion, MAPI.JK ranks 4 in Market Cap out of 10 companies in the Consumer Cyclicals sector.

High
At a PE of 12.78, MAPI.JK ranks 7 out of 10 companies in the Consumer Cyclicals sector for P/E value. The average PE is 61.37 (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. (409.07) in the Consumer Cyclicals sector.

Medium
At a PE of 12.78, MAPI.JK is trading at a higher PE than that of its subsector peers in Retailing (median of 10.84). false

Medium
At a revenue of IDR 34.70 trillion, MAPI.JK ranks 1 in Revenue out of 10 companies in the Consumer Cyclicals sector.

Medium
At a profit of IDR 1.90 trillion, MAPI.JK ranks 1 in Profit out of 10 companies in the Consumer Cyclicals sector.

Future

Future Growth of MAPI

Growth Forecasts

MAPI 2024 Revenue Growth
+14.9%
MAPI 2025 Revenue Growth
+29.5%
MAPI 2024 EPS Growth
+18.8%
MAPI 2025 EPS Growth
+37.7%
Sector Revenue Growth
+21.6%
Retailing
Indonesia Market Growth
+13.1%
IDX overall growth
Retailing Sector Revenue Growth '24
+12.6%
Retailing Sector Revenue Growth '25
+30.2%
Consumer Cyclicals Sector Revenue Growth '24
+19.2%
Consumer Cyclicals Sector Revenue Growth '25
+20.4%

Sector Benchmark

Retailing companies in Indonesia are growing at a projected rate of 21.58% against the IDX average of +13.1%.

Retailing sector overview

MAPI Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of MAPI
WeightNotesScore
High
MAPI's projected growth rate of 21.58% is above the ID market average of 13.14%.

High
The Retailing sub-sector is projected to grow revenue by 30.19% in 2025. This number is higher than the previous year 2024's growth rate of 12.60%. This bodes well for MAPI's revenue growth prospects in the next 2 years.

Medium
The Retailing sub-sector is projected to increase earnings by 40.52% in 2025. This number is higher than the previous year 2024's EPS growth of 17.00%. This bodes well for MAPI's earnings growth prospects in the next 2 years.

Medium
MAPI 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 2025. Specifically, earnings are projected to increase by 59.75% in 2025 while revenue growth is projected to increase by 20.43%. These macroeconomic trends will likely be a tailwind for MAPI's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

H.B.L. Mantiri15.2 years

Vice President Director

V.P. Sharma15.4 years
Susiana Latif
Director
Handaka Santosa
Director
Sjeniwati Gusman
Director
Sean Gustav Standish Hughes
Director
NamePositionShares%
No data is available for MAPI at the moment.
Expressed in millions IDR, unless otherwise stated

Ownership

MAPI Ownership

NameNumber of SharesOwnership (%)Value
Pt Satya Mulia Gema Gemilang8,466,000,0005112,445.02B
Public (Scripless)8,073,613,40048.6411,868.21B
Treasury Stock60,386,6000.3688.77B

Largest Institutional Buy

No data is available for MAPI at the moment.

Largest Institutional Sell

Evli
Sold 31-12-2023
-45,000,000 shares
Principal Global Investors LLC
Sold 31-12-2023
-42,314,600 shares
Letko, Brosseau & Associates Inc.
Sold 31-12-2023
-34,380,100 shares

Institutional Transactions

Tracking institutional transactions buying / selling of MAPI stock

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