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    A. Fundamental Growth Investing Analysis 1. Analysis of Revenue Growth in 2007-2016

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    This document analyzes PT Indofood Sukses Makmur Tbk, a food and beverage company, through fundamental growth and value investing analyses. For growth investing, the company showed good revenue, earnings, equity, and stock price growth over 2007-2016 but average ROE was not good. The overall growth investing score was 80%. For value investing, dividends payout was good but P/E, PBV, working capital, and debt-to-equity ratios were not good, resulting in an overall score of 20%. Additional analysis found ICBP earnings approaching but still lower than INDF due to INDF's majority stake in ICBP. The stock price trend was found to be short term downt

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    A. Fundamental Growth Investing Analysis 1. Analysis of Revenue Growth in 2007-2016

    Uploaded by

    adilla ikhsanii
    37 views10 pages
    This document analyzes PT Indofood Sukses Makmur Tbk, a food and beverage company, through fundamental growth and value investing analyses. For growth investing, the company showed good revenue, earnings, equity, and stock price growth over 2007-2016 but average ROE was not good. The overall growth investing score was 80%. For value investing, dividends payout was good but P/E, PBV, working capital, and debt-to-equity ratios were not good, resulting in an overall score of 20%. Additional analysis found ICBP earnings approaching but still lower than INDF due to INDF's majority stake in ICBP. The stock price trend was found to be short term downt

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    This document analyzes PT Indofood Sukses Makmur Tbk, a food and beverage company, through fundamental growth and value investing analyses. For growth investing, the company showed good revenue, earnings, equity, and stock price growth over 2007-2016 but average ROE was not good. The overall growth investing score was 80%. For value investing, dividends payout was good but P/E, PBV, working capital, and debt-to-equity ratios were not good, resulting in an overall score of 20%. Additional analysis found ICBP earnings approaching but still lower than INDF due to INDF's majority stake in ICBP. The stock price trend was found to be short term downt

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    37 views10 pages

    A. Fundamental Growth Investing Analysis 1. Analysis of Revenue Growth in 2007-2016

    Uploaded by

    adilla ikhsanii
    This document analyzes PT Indofood Sukses Makmur Tbk, a food and beverage company, through fundamental growth and value investing analyses. For growth investing, the company showed good revenue, earnings, equity, and stock price growth over 2007-2016 but average ROE was not good. The overall growth investing score was 80%. For value investing, dividends payout was good but P/E, PBV, working capital, and debt-to-equity ratios were not good, resulting in an overall score of 20%. Additional analysis found ICBP earnings approaching but still lower than INDF due to INDF's majority stake in ICBP. The stock price trend was found to be short term downt

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    INDF (PT.

    Indofood Sukses Makmur Tbk)


    PT. Indofood Sukses Makmur Tbk is a company engaged in food & beverage.
    A. Fundamental Growth Investing Analysis

    1. Analysis of revenue growth in 2007-2016

    Year Revenue

    2007 27,858

    2008 38,799

    2009 37,397

    2010 38,403

    2011 45,332

    2012 50,202

    2013 55,624

    2014 63,595

    2015 64,062

    2016 66,750

    2016 / 2007 239.61%

    Average Growth 10.20%


    Fundamental indicators increase by an average of 15% in 10 years
    (This ratio is good in terms of revenue growth) Equity above 10 trillion

    2. Earnings analysis growth in 2007-2016

    Year Earning EPS Stock EPS

    2007 980 115.00 9,444,189,000

    2008 1,034 120.00 8,780,426,500

    2009 2,076 236.00 8,780,426,500

    2010 2,953 336.00 8,780,426,500

    2011 3,077 350.00 8,780,426,500

    2012 3,224 371.00 8,780,426,500

    2013 2,534 285.00 8,780,426,500

    2014 3,942 449.00 8,780,426,500

    2015 2,968 338.00 8,780,426,500

    2016 4,145 472.00 8,780,426,500

    2016 / 2007 422.75% 410.43% 92.97%


    Average Growth 17.37% 16.99% -0.81%

    Fundamental indicators increase by an average of 15% in 10 years


    (This ratio is good in terms of earnings growth)

    3. Equity growth analysis for 2007-2016

    Year Equity

    2007 10,912

    2008 13,159

    2009 15,496

    2010 24,853

    2011 31,610

    2012 33,322

    2013 36,884

    2014 40,274
    2015 43,122

    2016 43,941

    2016 / 2007 402.67%

    Average Growth 16.74%

    Fundamental indicators increase by an average of 15% in 10 years


    (This ratio is good in terms of equity growth)

    4. Stock price growth analysis

    Year Price

    2007 2,575

    2008 930

    2009 3,550
    2010 4,875

    2011 4,600

    2012 5,850

    2013 6,600

    2014 6,750

    2015 5,175

    2016 7,925

    2016 / 2007 307.77%

    Average Growth 13.30%

    Fundamental indicators increase by an average of 15% in 10 years


    (This ratio is good in terms of stock price growth) because equity is above 10 trillion.

    5. Average ROE analysis for 2007-2016


    ROE

    Year Net Profit Equity ROE

    2007 980.4 10,912.4 8.98%

    2008 1,034.4 13,158.9 7.86%

    2009 2,075.9 15,496.2 13.40%

    2010 2,952.9 24,852.8 11.88%

    2011 3,077.2 31,610.2 9.73%

    2012 3,223.6 33,321.9 9.67%


    2013 2,534.3 36,884.1 6.87%

    2014 3,941.8 40,274.2 9.79%

    2015 2,968.0 43,121.6 6.88%

    2016 4,144.6 43,941.4 9.43%

    Total 94.51%

    Average / year 9.45%

    (Fundamental Indicators Increase 15% Average ROE in 10 Years)


    (This ratio is not good in terms of Average ROE)

    Analisa Growth Investing

    No Indicator Result

    1 Revenue Growth Good

    2 Earning Growth Good

    3 Equity Growth Good

    4 Stock Price Growth Good

    5 Average RoE Not Good

    Total Score 80

    Through fundamental growth investing analysis, these shares are from 5 Important
    Points. The health value of the fundamental growth investing for this stock is 80%

    B. Analysis of Fundamental Value Investing


    1. Dividen
    This company always distributes dividends
    Years Dividen EPS % Payout

    2014 220 449 49.00%

    2015 168 338 49.70%

    2016 235 472 49.79%

    Average % Payout 49.50%

    2. Price per Earning Ratio


    The price at the time of writing is 8,250, -
    Earning Q2 2017 is 259
    2017 Earning projection is 518
    Then P / E = 15.93 -> This ratio is not good because it should be P / E <15)
    3. Price Book Value
    The equity of the parent entity is 29,721,163,000,000, -
    With the number of shares outstanding is 8,780,426,500.
    So the book value of the company is Rp. 3,385, -
    PBV is 2.44, -.
    (This ratio is not good because it should be PBV <1.5)
    4.Working Capital
    Current Asset = 35,178,696, -
    Current Debt = 24,145,791, -
    (This ratio is not good because Current Assets should be> 2 x Current Debt)
    5. Debt to Equity Ratio
    Total Equity = 44,459,268, -
    Total Debt = 45,466,284, -
    (This ratio is not good because of Total Equity> Total Debt)

    Analisa Value Investing


    No Indicator Result

    1 Deviden Good

    2 P/E Not Good

    3 PBV Not Good

    4 Working Capital Not Good

    5 Debt to Equity Not Good

    Total Score 20

    Through analysis of the fundamental value investing of these shares of 5


    Important Points . The health value of the fundamental value investing for this stock
    is 20%. The fundamental fundamental health value of Growth and Value Investing is
    50%
    C. Additional Analysis of AFSI
    See from the history of the stock price chart. Then this Trending Stock is Short Term
    Downtrend. Weak Long Term Uptrend
    Additional analysis of VS ICBP INDF (December 6, 2017)
    According to the 2017 ICBP VS INDF Q3 Report

    At a glance we see ICBP earnings approaching INDF. but INDF itself has an
    80.5% ICBP stake. Where this means 2,448,561,255,000 represent 74.7% of INDF's
    income comes from ICBP but if we see the outstanding shares of ICBP and INDF the
    amount is different this will have an impact on EPS INDF over ICBP income. ICBP
    recorded EPS 261 income while INDF which owns ICBP shares 80.5% has EPS 279
    -> This income comes only from the ICBP Division (INDF EPS will be 6.92% higher
    than ICBP from ICBP subsidiaries' earnings without the others) This means INDF
    will have EPS that is always higher than ICBP for a long time unless all INDF
    subsidiaries suffer losses.
    Then why can ICBP be higher? That is because the price of the market
    participants sees ICBP ROE higher ICBP growth is higher than INDF so it seems that
    ICBP can catch up with INDF. Even if we know inside it is impossible except for all
    subsidiaries outside the ICBP, they all incur losses based on such reason, normally
    INDF Prices will never be below ICBP, as evidenced by INDF's dividend distribution
    will always be higher than ICBP in the future.
    Then why can ICBP be higher than INDF? Well to understand this need to study
    the History of INDF and ICBP issuers. ICBP has a 1: 2 stock split (July 27, 2016)
    where ICBP shares have been divided 2. Previously 5,830,954,000 -> In this case
    ICBP EPS must be 2 x greater than INDF so the ICBP price above INDF should be
    approximately 2x. but after the stock split. then the ICBP price will always be below
    INDF It's a fact of math. This means that INDF has a Hidden Gem price for ICBP
    now 2 possibilities appear for the current price ICBP will drop below INDF. or INDF
    will rise above the ICBP. even if it does not last long, the dividend / stock will always
    be INDF above the ICBP.

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