PT Summarecon Agung Tbk

smra

Overview

SMRA Overview

PT Summarecon Agung Tbk is an Indonesia-based company engaged in real estate construction and development. The Company’s segments include Property Development, Investment Property and Leisure and Hospitality. The property development business unit represents its core business. The business unit builds property projects for sale, such as houses, apartments, residential land plots, and commercial shophouses. The Company’s Investment Property segment develops, owns, and operates a number of investment properties, such as shopping malls and recreational parks, all of which are located in the Company's development complex and are an integral part of an integrated township that combines residential and commercial areas. Its Leisure and Hospitality segment relates to sports club and hotel business. It has also developed other properties, including offices and residential buildings which are intended for its own corporate use and/or to further support facilities in its township.

51015ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: SMRA

Main
Market Cap.
IDR 8.58Trillion

~$546.34M USD

Industry
Real Estate Management & Development
Sub-Industry
Real Estate Development & Management
Sector
Properties & Real Estate

Valuation

SMRA Valuation Metrics

520

IDR

Closing Price on 2024-04-05

Price to Equity

8.86

P/E

At 8.86x P/E TTM, SMRA.JK is trading at a premium to its peers in the Properties & Real Estate sector (avg 6.6x).

Price to Book

0.88

P/B

At 0.88x P/B TTM, SMRA.JK is trading at a premium to its peers in the Properties & Real Estate sector (avg 0.6x).

Price to Sales

1.30

P/S

At 1.30x P/S TTM, SMRA.JK is trading at a discount to its peers in the Properties & Real Estate sector.

Valuing PT Summarecon Agung Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Properties & Real Estate sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Summarecon Agung Tbk relative to other stocks in the Properties & Real Estate sector

Price/Cash Flow
5.11x
Price/Forward Earnings
8.89x
Enterprise Value/Revenue
1.81x
Enterprise Value/EBITDA
6.18x
PEG Ratio
0.03x

Analyst Ratings

40
60
80
0
100

80.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR5202024-04-05
IDR 394.29

Slightly Lower Intrinsic Value: Analyst's intrinsic value is of SMRA is IDR394, which is 23% lower than SMRA's last closing price of IDR520 (as of 2024-04-05).

Valuation Recap of SMRA 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 8.86x is above the ID market average of 8.22x and is trading at a premium to peers in the Properties & Real Estate sector (6.58x).
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 0.88x is similar to the peers average of 0.56x in the Properties & Real Estate 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 1.30x is below the peers average of 3.01x in the Properties & Real Estate sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of SMRA's valuation relative to its current sales and future earnings growth. SMRA trades at a Forward P/E ratio of 8.89x, 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. SMRA's P/CF ratio of 5.11x 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. SMRA's EV/R ratio of 1.81x is considered fairly underpriced by the market The average EV/R ratio for the Properties & Real Estate sector is 4.00x. ●●
Max 3
Medium
Slightly Lower Intrinsic Value: Analyst's intrinsic value is of SMRA is IDR 394.29, which is 23% lower than SMRA's last closing price of IDR 520.00.
Max 3

Peers

SMRA Peers and Comparison

Market Cap.

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
MKPIMetropolitan Kentjana Tbk25.84T8.42T 2.29T 0.86T 29.963.89
CTRACiputra Development Tbk22.61T42.63T 8.49T 1.52T 14.881.17
PWONPakuwon Jati Tbk20.80T32.06T 6.06T 1.83T 11.341.12
BSDEPT Bumi Serpong Damai Tbk20.39T71.11T 10.40T 3.28T 6.210.57
MPROPT Maha Properti Indonesia Tbk.17.43T1.71T 0.00T -0.03T -503.6319.02
INPPIndonesian Paradise Property Tbk11.24T9.18T 1.25T 0.12T 93.702.12
RISEPT Jaya Sukses Makmur Sentosa Tbk.10.73T2.91T 0.31T 0.03T 306.565.19
PLINPlaza Indonesia Realty Tbk9.62T12.31T 1.26T 0.69T 13.980.90
SMRAPT Summarecon Agung Tbk8.58T29.50T 6.59T 0.97T 8.860.88
JRPTJaya Real Property Tbk8.39T12.62T 2.39T 0.95T 8.880.96
Competitiveness Recap of SMRA stock
WeightNotesScore
High
At a market cap of IDR 8,584.47 billion, SMRA.JK ranks 9 in Market Cap out of 10 companies in the Properties & Real Estate sector.
Max 2
High
At a PE of 8.86, SMRA.JK ranks 8 out of 10 companies in the Properties & Real Estate sector for P/E value. The average PE is -0.93 (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 Properties & Real Estate. In this regard, it trails behind sector leaders such as PT Jaya Sukses Makmur Sentosa Tbk. (306.56) in the Properties & Real Estate sector.
Max 2
Medium
At a PE of 8.86, SMRA.JK is trading at a higher PE than that of its subsector peers in Properties & Real Estate (median of 6.58). false
Max 2
Medium
At a revenue of IDR 6.59 trillion, SMRA.JK ranks 3 in Revenue out of 10 companies in the Properties & Real Estate sector.
Max 2
Medium
At a profit of IDR 0.97 trillion, SMRA.JK ranks 4 in Profit out of 10 companies in the Properties & Real Estate sector.
Max 2

Future

Future Growth of SMRA

Growth Forecasts

SMRA 2024 Revenue Growth
+22.4%
SMRA 2024 EPS Growth
+32.0%
Sector Revenue Growth
+11.4%
Properties & Real Estate
Indonesia Market Growth
+12.0%
IDX overall growth
Properties & Real Estate Sector Revenue Growth '24
+7.6%
Properties & Real Estate Sector Revenue Growth '24
+7.6%

Sector Benchmark

Properties & Real Estate companies in Indonesia are growing at a projected rate of 11.45% against the IDX average of +12.0%.

Properties & Real Estate sector overview

SMRA Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of SMRA
WeightNotesScore
High
SMRA's projected growth rate of 11.45% is below the ID market average of 11.98%.●●●
Max 3
High
The Properties & Real Estate sub-sector is projected to grow revenue by 7.55% in 2024. This number is higher than the previous year 2023's growth rate of 2.32%. This bodes well for SMRA's revenue growth prospects in the next 2 years. ●●
Max 3
Medium
The Properties & Real Estate sub-sector is projected to increase earnings by 10.85% in 2024. This number is higher than the previous year 2023's EPS growth of 0.39%. This bodes well for SMRA's earnings growth prospects in the next 2 years. ●●
Max 3
Medium
SMRA and its peers in the Properties & Real Estate sub-sector belongs to the Properties & Real Estate sector. Companies in the Properties & Real Estate sector are projected to have a fruitful year heading into 2024. Specifically, earnings are projected to increase by 10.85% in 2024 while revenue growth is projected to increase by 7.55%. These macroeconomic trends will likely be a tailwind for SMRA's earnings growth prospects in the next 2 years. ●●
Max 3
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Management

Executive Management

President Director

Ir. Adrianto Pitoyo Adhi15.2 years
Liliawati Rahardjo
Director
Soegianto Nagaria
Director
Herman Nagaria
Director
Lydia Tjio
Director
Nanik Wijaya
Director
Ir. Sharif Benjamin
Director
Jason Lim
Director
NamePositionShares%
Harto Djojo NagariaCommissioner20,800,0020.13
Liliawati RahardjoDirector248,011,9361.5
Expressed in millions IDR, unless otherwise stated

Ownership

SMRA Ownership

Others
53.88%
Insiders
35.4%
Institutions
10.72%
NameNumber of SharesOwnership (%)Value
Public (Scripless)8,813,690,86453.394,583.12B
Pt Semarop Agung5,585,167,91633.832,904.29B
Public (Scrip)1,840,897,64011.15957.27B
Liliawati Rahardjo248,011,9361.5128.97B
Harto Djojo Nagaria20,800,0020.1310.82B

Largest Institutional Buy

State Street Global Advisors
Bought 31-01-2024
+7,742,471 shares
UOB Asset Management (Malaysia) Berhad
Bought 31-01-2024
+7,300,000 shares
Dimensional Fund Advisors LP
Bought 31-01-2024
+3,673,335 shares

Largest Institutional Sell

Matthews International Cap Mgmt LLc
Sold 31-01-2024
-66,581,291 shares
Crux Asset Management Limited
Sold 31-01-2024
-30,941,040 shares
PT Eastspring Investment Indonesia
Sold 31-01-2024
-7,990,900 shares

Institutional Transactions

Tracking institutional transactions buying / selling of SMRA stock