Multi Bintang Indonesia Tbk

mlbi

Overview

MLBI Overview

PT Multi Bintang Indonesia Tbk is an Indonesia-based beverage company. The Company operates in the beer and other beverage industries. It is engaged in business activities, including the production of beer and other beverages and other relevant products; marketing of products in local and international markets; and the import of promotional materials relevant to the products. Its brands include Heineken, Bintang Pilsner, Bintang Crystal, Bintang Radler Lemon, Bintang 0.0% Original, Bintang 0.0% Lemon and Bintang 0.0% Blackcurrant, and Green Sands. Bintang 0.0% Original and Bintang 0.0% Lemon and Bintang 0.0% Blackcurrant are zero alcohol beverages. Green Sands is a carbonated soft drink. Its products are distributed and marketed by the Company’s subsidiary, PT Multi Bintang Indonesia Niaga. The Company operates breweries in Tangerang, Banten and Sampangagung, Mojokerto, East Java, as well as a non-alcoholic beverages factory in Sampangagung.

5101520ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: MLBI

Main
Market Cap.
IDR 14.75Trillion

~$0.92B USD

Industry
Beverages
Sub-Industry
Liquors
Sector
Consumer Non-Cyclicals
Sub-Sector

Valuation

MLBI Valuation Metrics

7,000

IDR
0.0%

Closing Price on 2024-04-18

Price to Equity

13.83

P/E

At 13.83x P/E TTM, MLBI.JK is trading in line with its peers in the Food & Beverage sector.

Price to Book

10.61

P/B

At 10.61x P/B TTM, MLBI.JK is trading at a premium to its peers in the Food & Beverage sector (avg 1.3x).

Price to Sales

4.44

P/S

At 4.44x P/S TTM, MLBI.JK is trading at a premium to its peers in the Food & Beverage sector (avg 0.8x).

Valuing Multi Bintang Indonesia 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 Multi Bintang Indonesia Tbk relative to other stocks in the Food & Beverage sector

Price/Cash Flow
14.48x
Price/Forward Earnings
11.81x
Enterprise Value/Revenue
4.32x
Enterprise Value/EBITDA
9.93x
PEG Ratio
1.30x

Analyst Ratings

40
60
80
0
100

75.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR7,0002024-04-18
IDR 5,670.04

Fairly Close to Intrinsic Value: Analyst's intrinsic value is of MLBI is IDR5,670, which is 18% lower than MLBI's last closing price of IDR7,000 (as of 2024-04-18).

Valuation Recap of MLBI 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 13.83x is above the ID market average of 8.46x and is trading at a premium to peers in the Food & Beverage sector (12.41x).

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 10.61x is above the peers average of 1.27x in the Food & Beverage sector. MLBI trades at a higher P/B ratio than >75% of its peers in the Food & Beverage 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 4.44x is above the peers average of 0.81x in the Food & Beverage sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of MLBI's valuation relative to its current sales and future earnings growth. MLBI trades at a Forward P/E ratio of 11.81x, 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. MLBI's P/CF ratio of 14.48x 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. MLBI's EV/R ratio of 4.32x is considered a relatively high ratio The average EV/R ratio for the Food & Beverage sector is 1.27x.

Medium
Fairly Close to Intrinsic Value: Analyst's intrinsic value is of MLBI is IDR 5,670.04, which is 18% lower than MLBI's last closing price of IDR 7,000.00.

Peers

MLBI 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 Tbk117.79T119.27T 67.91T 6.99T 16.852.89
AMRTPT Sumber Alfaria Trijaya Tbk.115.85T34.25T 106.94T 3.40T 34.048.00
HMSPHM Sampoerna Tbk97.13T55.32T 115.98T 8.10T 12.003.25
UNVRUnilever Indonesia Tbk91.18T16.66T 38.61T 4.80T 18.9926.97
PANIPT Pantai Indah Kapuk Dua Tbk.83.61T33.71T 2.16T 0.27T 309.616.46
CPINCharoen Pokphand Indonesia Tbk79.69T40.97T 61.62T 2.32T 34.372.95
INDFIndofood Sukses Makmur Tbk53.78T186.59T 111.70T 8.15T 6.600.91
MYORMayora Indah Tbk52.77T23.42T 31.33T 2.88T 18.303.81
CMRYPT Cisarua Mountain Dairy Tbk39.67T7.05T 7.77T 1.24T 31.956.68
ULTJPT Ultrajaya Milk Industry & Trading Company Tbk19.34T7.52T 8.30T 1.17T 16.542.93
Competitiveness Recap of MLBI stock
WeightNotesScore
High
At a market cap of IDR 14,749.00 billion, MLBI.JK ranks 10 in Market Cap out of 10 companies in the Consumer Non-Cyclicals sector.

High
At a PE of 13.83, MLBI.JK ranks 8 out of 10 companies in the Consumer Non-Cyclicals sector for P/E value. The average PE is 49.65 (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. (309.61) in the Consumer Non-Cyclicals sector.

Medium
At a PE of 13.83, MLBI.JK is trading at a higher PE than that of its subsector peers in Food & Beverage (median of 12.41). false

Medium
At a revenue of IDR 3.32 trillion, MLBI.JK ranks 9 in Revenue out of 10 companies in the Consumer Non-Cyclicals sector.

Medium
At a profit of IDR 1.07 trillion, MLBI.JK ranks 9 in Profit out of 10 companies in the Consumer Non-Cyclicals sector.

Future

Future Growth of MLBI

Growth Forecasts

MLBI 2024 Revenue Growth
+16.8%
MLBI 2024 EPS Growth
0.0%
Sector Revenue Growth
+10.0%
Food & Beverage
Indonesia Market Growth
+7.6%
IDX overall growth
Food & Beverage Sector Revenue Growth '24
+17.4%
Consumer Non-Cyclicals Sector Revenue Growth '24
+17.4%

Sector Benchmark

Food & Beverage companies in Indonesia are growing at a projected rate of 9.96% against the IDX average of +7.6%.

Food & Beverage sector overview

MLBI Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of MLBI
WeightNotesScore
High
MLBI's projected growth rate of 9.96% is above the ID market average of 7.62%.

High
The Food & Beverage sub-sector is projected to grow revenue by 17.36% in 2024. This number is higher than the previous year 2023's growth rate of 6.89%. This bodes well for MLBI's revenue growth prospects in the next 2 years.

Medium
The Food & Beverage sub-sector is projected to increase earnings by 64.39% in 2024. This number is higher than the previous year 2023's EPS growth of 26.24%. This bodes well for MLBI's earnings growth prospects in the next 2 years.

Medium
MLBI 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 64.39% in 2024 while revenue growth is projected to increase by 17.36%. These macroeconomic trends will likely be a tailwind for MLBI's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Rene Sanchez Valle15.2 years
Stephanie Yolande Peregrin
Director
Melia Halik
Director
Dayna Nicole Adelman
Director
Jemmy Cahyono
Director
NamePositionShares%
No data is available for MLBI at the moment.
Expressed in millions IDR, unless otherwise stated

Ownership

MLBI Ownership

Others
9.6%
Insiders
89.32%
Institutions
1.08%
NameNumber of SharesOwnership (%)Value
Heineken International B.V.1,881,951,00089.3213,173.66B
Public (Scripless)199,422,7009.461,395.96B
Public (Scrip)25,626,3001.22179.38B

Largest Institutional Buy

Virtus Investment Advisers, Inc.
Bought 31-12-2023
+99,000 shares
Sumitomo Mitsui DS Asset Management Company, Limited
Bought 31-12-2023
+51,700 shares

Largest Institutional Sell

No data is available for MLBI at the moment.

Institutional Transactions

Tracking institutional transactions buying / selling of MLBI stock