Semen Indonesia (Persero) Tbk

smgr

Overview

SMGR Overview

PT Semen Indonesia (Persero) Tbk is an Indonesia-based multinational building materials solutions company. The Company provides a range of product and service variants according to the level of development needs from simple renovations, property development projects, public facilities, infrastructure to other large-scale projects. The Company has two segments: cement production and non-cement production. Cement production segment produces and markets cement products in Indonesia, Vietnam, as well as various export destination countries. In addition to production facilities, the Company has also developed various supporting facilities, such as packaging factories, ports, and other distribution support networks spread across all provinces in Indonesia and parts of Vietnam. Non-cement production segment consists of mining limestone and clay, manufacturing packaging bags, developing industrial estates, finished and ready-to-use concrete, information system services, logistics and trading.

2468101214ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: SMGR

Main
Market Cap.
IDR 38.31Trillion

~$2.44B USD

Industry
Construction Materials
Sub-Industry
Construction Materials
Sector
Basic Materials
Sub-Sector

Valuation

SMGR Valuation Metrics

5,650

IDR

Closing Price on 2024-04-05

Price to Equity

15.77

P/E

At 15.77x P/E TTM, SMGR.JK is trading at a premium to its peers in the Basic Materials sector (avg 8.2x).

Price to Book

0.90

P/B

At 0.90x P/B TTM, SMGR.JK is trading in line with its peers in the Basic Materials sector.

Price to Sales

0.99

P/S

At 0.99x P/S TTM, SMGR.JK is trading at a premium to its peers in the Basic Materials sector (avg 0.8x).

Valuing Semen Indonesia (Persero) Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Basic Materials sector

Historical Price to Earnings

Other Valuation Metrics

Valuing Semen Indonesia (Persero) Tbk relative to other stocks in the Basic Materials sector

Price/Cash Flow
6.08x
Price/Forward Earnings
11.99x
Enterprise Value/Revenue
1.27x
Enterprise Value/EBITDA
8.97x
PEG Ratio
4.94x

Analyst Ratings

40
60
80
0
100

75.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR5,6502024-04-05
IDR 3,436.46

Considerably Lower Intrinsic Value: Analyst's intrinsic value is of SMGR is IDR3,436, which is 38% lower than SMGR's last closing price of IDR5,650 (as of 2024-04-05).

Valuation Recap of SMGR 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 15.77x is above the ID market average of 8.22x and is trading at a premium to peers in the Basic Materials sector (8.22x).
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 0.90x is similar to the peers average of 0.89x in the Basic Materials 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 0.99x is similar to the peers average of 0.76x in the Basic Materials sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of SMGR's valuation relative to its current sales and future earnings growth. SMGR trades at a Forward P/E ratio of 11.99x, 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. SMGR's P/CF ratio of 6.08x 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. SMGR's EV/R ratio of 1.27x is considered extremely underpriced by the market The average EV/R ratio for the Basic Materials sector is 1.07x. ●●
Max 3
Medium
Considerably Lower Intrinsic Value: Analyst's intrinsic value is of SMGR is IDR 3,436.46, which is 38% lower than SMGR's last closing price of IDR 5,650.00.
Max 3

Peers

SMGR 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
AMMNPT Amman Mineral Internasional Tbk.649.04T127.21T 0.00T 0.00T 9.75
TPIAPT Chandra Asri Petrochemical Tbk614.23T77.45T 32.03T -0.92T -667.5114.37
BRPTBarito Pacific Tbk94.03T146.77T 41.15T 0.38T 244.683.78
MDKAPT Merdeka Copper Gold Tbk.63.00T72.67T 21.67T -0.52T -122.324.38
MBMAPT Merdeka Battery Materials Tbk62.64T0.00T 0.00T 0.00T
NCKLPT Trimegah Bangun Persada Tbk.56.79T45.09T 8.99T 2.04T 27.892.56
INKPIndah Kiat Pulp & Paper Tbk52.38T155.79T 56.29T 8.11T 6.460.57
ANTMAneka Tambang Tbk.41.01T35.50T 43.15T 4.04T 10.141.67
INCOVale Indonesia Tbk40.74T44.35T 18.96T 3.84T 10.601.05
SMGRSemen Indonesia (Persero) Tbk38.31T81.68T 38.76T 2.43T 15.770.90
Competitiveness Recap of SMGR stock
WeightNotesScore
High
At a market cap of IDR 38,307.85 billion, SMGR.JK ranks 10 in Market Cap out of 10 companies in the Basic Materials sector.
Max 2
High
At a PE of 15.77, SMGR.JK ranks 3 out of 10 companies in the Basic Materials sector for P/E value. The average PE is -47.43 (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 Basic Materials. In this regard, it trails behind sector leaders such as Barito Pacific Tbk (244.68) in the Basic Materials sector.
Max 2
Medium
At a PE of 15.77, SMGR.JK is trading at a higher PE than that of its subsector peers in Basic Materials (median of 8.22). false●●
Max 2
Medium
At a revenue of IDR 38.76 trillion, SMGR.JK ranks 4 in Revenue out of 10 companies in the Basic Materials sector.
Max 2
Medium
At a profit of IDR 2.43 trillion, SMGR.JK ranks 4 in Profit out of 10 companies in the Basic Materials sector.
Max 2

Future

Future Growth of SMGR

Growth Forecasts

SMGR 2024 Revenue Growth
+11.4%
SMGR 2024 EPS Growth
+21.2%
Sector Revenue Growth
+1.8%
Basic Materials
Indonesia Market Growth
+12.0%
IDX overall growth
Basic Materials Sector Revenue Growth '24
+19.2%
Basic Materials Sector Revenue Growth '24
+19.2%

Sector Benchmark

Basic Materials companies in Indonesia are growing at a projected rate of 1.84% against the IDX average of +12.0%.

Basic Materials sector overview

SMGR Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of SMGR
WeightNotesScore
High
SMGR's projected growth rate of 1.84% is below the ID market average of 11.98%.●●●
Max 3
High
The Basic Materials sub-sector is projected to grow revenue by 19.16% in 2024. This number is higher than the previous year 2023's growth rate of 1.18%. This bodes well for SMGR's revenue growth prospects in the next 2 years. ●●●
Max 3
Medium
The Basic Materials sub-sector is projected to decrease earnings by -97.81% in 2024. This number is higher than the previous year 2023's EPS growth of -104.18%. false
Max 3
Medium
SMGR and its peers in the Basic Materials sub-sector belongs to the Basic Materials sector. Companies in the Basic Materials sector are projected to have a challenging year heading into 2024. Specifically, earnings are projected to decrease by -97.81% in 2024 while revenue growth is projected to increase by 19.16%. These macroeconomic trends will likely be a tailwind for SMGR's earnings growth prospects in the next 2 years.
Max 3
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Management

Executive Management

President Director

Donny Arsal15.2 years
Yosviandri
Director
Agung Wiharto
Director
Subhan
Director
Andriano Hosny Panangian
Director
Reni Wulandari
Director
NamePositionShares%
Agung WihartoDirector106,839< 0.01
Andriano Hosny P.Director800< 0.01
SubhanDirector150,000< 0.01
Expressed in millions IDR, unless otherwise stated

Ownership

SMGR Ownership

Others
36.38%
Insiders
51.02%
Institutions
12.6%
NameNumber of SharesOwnership (%)Value
Pemerintah Ri3,457,023,00551.219,532.18B
Public3,294,517,08448.818,614.02B

Largest Institutional Buy

AHAM Asset Management Berhad
Bought 31-01-2024
+11,857,400 shares
Bessemer Investment Management LLC
Bought 31-01-2024
+9,963,289 shares
Public Mutual Berhad
Bought 31-01-2024
+5,854,536 shares

Largest Institutional Sell

Schroder Investment Management (Hong Kong) Limited
Sold 31-01-2024
-19,355,600 shares
JPMorgan Asset Management (Europe) S.à r.l.
Sold 31-01-2024
-14,165,407 shares
JPMorgan Asset Management (Asia Pacific) Limited
Sold 31-01-2024
-11,527,356 shares

Institutional Transactions

Tracking institutional transactions buying / selling of SMGR stock