View ValuationThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsSmartfren Telecom 将来の成長Future 基準チェック /06現在、 Smartfren Telecomの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Wireless Telecom 収益成長-5.6%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesお知らせ • Apr 17PT XL Axiata Tbk (IDX:EXCL) completed the acquisition of PT Smartfren Telecom Tbk (IDX:FREN) from Wahana Inti Nusantara, PT, Global Nusa Data PT, Bali Media Telekomunikasi PT and PT. Gerbang Mas Tunggal Sejahtera.PT XL Axiata Tbk (IDX:EXCL) entered into a non-binding Memorandum of Understanding to acquire PT Smartfren Telecom Tbk (IDX:FREN) from Wahana Inti Nusantara, PT, Global Nusa Data PT, Bali Media Telekomunikasi PT and PT. Gerbang Mas Tunggal Sejahtera for IDR 11.9 trillion on May 15, 2024. As of December 10, 2024, PT XL Axiata Tbk (IDX:EXCL) entered into a conditional merger agreement with PT Smartfren Telecom Tbk. The consideration consists of 5.07 billion common equity of PT XL Axiata Tbk to be issued for common equity of PT Smartfren Telecom Tbk. As part of the consideration, PT XL Axiata Tbk will axquire PT Smartfren Telecom Tbk for IDR 25 per share. The merged entity will be named PT XLSmart Telecom Sejahtera Tbk. As part of merger, Sinar Mas will receive 21.7% stake in XLSmart while Axiata stake will be 47.9% stake. PT XL Axiata Tbk will serve as the surviving entity while Smartfren and SmartTel will dissolve by operation of law upon merger completion and become part of XLSmart. PT XL Axiata Tbk and Sinar Mas will remain joint controlling shareholders with 34.8% ownership stake each in PT XL Axiata Tbk. The merger ratio of 72:28 equity value will be split between XL Axiata and Smartfren respectively. The deal is subject to approval by the shareholders of PT Smartfren Telecom Tbk and the shareholders of PT XL Axiata Tbk. The transaction is also subject to approval from Bank Negara Malaysia, IDX, and the Ministry of Communications and Digital of the Republic of Indonesia. A Merger Integration Committee has been set for the deal. The transaction is expected to be completed by the first half of 2025. PT XL Axiata Tbk (IDX:EXCL) will use the funds to primarily pare down debt. The deal will be accretive to PT XL Axiata Tbk (IDX:EXCL). Maybank Investment Bank has been appointed as Principal Adviser to PT XL Axiata Tbk while DB Corporate Advisory (Malaysia) Sdn. Bhd. has been appointed as Exclusive Financial Adviser to PT XL Axiata Tbk. Jonathan Stone, Rajeev Duggal, Jisun Choi, Bruce Goldner, Rory McAlpine and Steve Kwok of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Axiata Group. PT XL Axiata Tbk (IDX:EXCL) completed the acquisition of PT Smartfren Telecom Tbk (IDX:FREN) from Wahana Inti Nusantara, PT, Global Nusa Data PT, Bali Media Telekomunikasi PT and PT. Gerbang Mas Tunggal Sejahtera on April 16, 2025.お知らせ • Feb 15PT Smartfren Telecom Tbk, Annual General Meeting, Mar 25, 2025PT Smartfren Telecom Tbk, Annual General Meeting, Mar 25, 2025.Reported Earnings • Nov 16Third quarter 2024 earnings released: Rp1.12 loss per share (vs Rp0.17 loss in 3Q 2023)Third quarter 2024 results: Rp1.12 loss per share (further deteriorated from Rp0.17 loss in 3Q 2023). Revenue: Rp2.97t (down 3.2% from 3Q 2023). Net loss: Rp533.9b (loss widened Rp477.5b from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings.お知らせ • Sep 23PT Smartfren Telecom Tbk(IDX:FREN) dropped from FTSE All-World Index (USD)PT Smartfren Telecom Tbk(IDX:FREN) dropped from FTSE All-World Index (USD)Buy Or Sell Opportunity • Sep 02Now 23% overvaluedOver the last 90 days, the stock has fallen 16% to Rp31.00. The fair value is estimated to be Rp25.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Meanwhile, the company became loss making.Buy Or Sell Opportunity • Aug 15Now 23% overvaluedOver the last 90 days, the stock has fallen 36% to Rp32.00. The fair value is estimated to be Rp26.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Meanwhile, the company has become profitable.New Risk • Jun 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (42% increase in shares outstanding).New Risk • Jun 04New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (42% increase in shares outstanding).Reported Earnings • Jun 04First quarter 2024 earnings released: Rp0.76 loss per share (vs Rp1.13 loss in 1Q 2023)First quarter 2024 results: Rp0.76 loss per share (improved from Rp1.13 loss in 1Q 2023). Revenue: Rp2.78t (flat on 1Q 2023). Net loss: Rp253.4b (loss narrowed 33% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings.お知らせ • May 21PT Smartfren Telecom Tbk, Annual General Meeting, Jun 25, 2024PT Smartfren Telecom Tbk, Annual General Meeting, Jun 25, 2024.お知らせ • May 17Axiata, Sinar Mas Explore Merger Between XL and SmartfrenAxiata Group Berhad (KLSE:AXIATA) has entered into a non-binding agreement with Indonesian firms to explore a merger of PT XL Axiata Tbk (IDX:EXCL) and PT Smartfren Telecom Tbk (IDX:FREN) to create a new entity (MergeCo). Axiata said it had signed a memorandum of understanding (MoU) with Wahana Inti Nusantara, PT, Global Nusa Data PT and Bali Media Telekomunikasi PT (collectively referred to as Sinar Mas) on the prospect. In a filing to Bursa Malaysia, Axiata noted the proposal is at an early stage of evaluation with both Axiata and Sinar Mas intending to remain as joint controlling shareholders of MergeCo. "With the intent to create a stronger telecommunications service provider in Indonesia, the proposed merger of XL Axiata and Smartfren is expected to bring together the combined scale, competencies, finances and deep telecommunication expertise of Axiata and the local scale and market knowledge of Sinar Mas to generate significant value. "Both principals are expected to wield an equitable influence over the strategic direction and operational decisions of MergeCo, bolstered by their respective strengths," it noted. There is no certainty that the ongoing discussions between the parties will result into any binding agreement nor the completion of the transaction, it said. "Axiata believes that MergeCo will have the strategic agility, competence and scale to meet increasing expectations and demand from consumers, businesses and the Indonesian public sector. "MergeCo is expected to deliver superior customer experience in the telecommunications sector and create additional shareholder value including through synergies from the combined operations of XL Axiata and Smartfren," it added.New Risk • Apr 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company.お知らせ • Apr 26Axiata, Sinar Mas Reportedly Move Closer to $3.5 Billion Telco Merger in IndonesiaWireless carrier Axiata Group Berhad (KLSE:AXIATA) and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said. The owners of PT XL Axiata Tbk (IDX:EXCL) and PT Smartfren Telecom Tbk (IDX:FREN) are discussing the structure of a potential transaction that would create a $3.5 billion entity with about 100 million customers, the people said. A deal could involve a mix of cash and shares, they said, asking not to be named as the process is private.Reported Earnings • Apr 02Full year 2023 earnings releasedFull year 2023 results: Revenue: Rp12t (up 4.0% from FY 2022). Net loss: Rp108.9b (down 110% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.お知らせ • Jan 26PT Smartfren Telecom Tbk has filed a Follow-on Equity Offering in the amount of IDR 8.572949 trillion.PT Smartfren Telecom Tbk has filed a Follow-on Equity Offering in the amount of IDR 8.572949 trillion. Security Name: Shares Security Type: Common Stock Securities Offered: 171,458,978,293 Price\Range: IDR 50 Transaction Features: Rights OfferingValuation Update With 7 Day Price Move • Sep 11Investor sentiment improves as stock rises 15%After last week's 15% share price gain to Rp61.00, the stock trades at a trailing P/E ratio of 43.9x. Average trailing P/E is 21x in the Wireless Telecom industry in Asia. Total loss to shareholders of 30% over the past three years.New Risk • Aug 05New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (8.9% increase in shares outstanding).Reported Earnings • Aug 04Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp2.79t (flat on 2Q 2022). Net loss: Rp163.2b (down Rp192.8b from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 138% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.Reported Earnings • Apr 13Full year 2022 earnings releasedFull year 2022 results: Revenue: Rp11t (up 7.1% from FY 2021). Net income: Rp1.06t (up Rp1.50t from FY 2021). Profit margin: 9.5% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Board Change • Nov 16No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 2 experienced directors. 4 highly experienced directors. No independent directors (6 non-independent directors). President Director Merza Fachys is the most experienced director on the board, commencing their role in 2007. Independent Commissioner Jagbir Singh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.Board Change • Apr 27No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. 4 highly experienced directors. No independent directors (5 non-independent directors). President Director Merza Fachys is the most experienced director on the board, commencing their role in 2007. Independent Commissioner Jagbir Singh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.Reported Earnings • Mar 17Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Revenue: Rp10t (up 11% from FY 2020). Net loss: Rp435.3b (loss narrowed 71% from FY 2020). Revenue missed analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 20%, compared to a 5.8% growth forecast for the industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 24Second quarter 2021 earnings releasedThe company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: Rp2.54t (up 10% from 2Q 2020). Net loss: Rp55.1b (down 110% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Is New 90 Day High Low • Mar 02New 90-day high: Rp82.00The company is up 22% from its price of Rp67.00 on 02 December 2020. The Indonesian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is up 16% over the same period.Is New 90 Day High Low • Jan 26New 90-day low: Rp60.00The company is down 14% from its price of Rp70.00 on 27 October 2020. The Indonesian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is up 10.0% over the same period.Is New 90 Day High Low • Nov 13New 90-day low: Rp61.00The company is down 46% from its price of Rp112 on 14 August 2020. The Indonesian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is down 1.0% over the same period.Is New 90 Day High Low • Oct 26New 90-day low: Rp68.00The company is down 51% from its price of Rp138 on 28 July 2020. The Indonesian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is flat over the same period.お知らせ • Sep 24Smartfren Announces Partnership with Whale Cloud to Implement AI to Improve Multichannel Customer EngagementWhale Cloud Technology CO., LTD. announced that Smartfren has partnered with Whale Cloud to upgrade its ZSmart Multi-channel Campaign Management (MCCM), an end-to-end campaign solution to manage omni-channel real-time campaigns during each phase of customers' lifecycle, to retain and grow the customers, thereby significantly improving the margin. The latest ZSmart MCCM can help Smartfren improve customer engagement across a variety of channels including MySmartfren app, WhatsApp, email, SMS, USSI, call center, and social media. The system provides 360-degree customer insights for personalized offers that cover full lifecycle of customer acquisition, conversion and retention. Besides, ZSmart MCCM can evaluate the effectiveness of marketing campaigns to raise the relevancy for customer experience and increase revenue growth. このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Smartfren Telecom は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測IDX:FREN - アナリストの将来予測と過去の財務データ ( )IDR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202411,419,725-1,294,9221,131,4752,365,219N/A9/30/202411,569,258-516,991951,3872,279,735N/A6/30/202411,666,709-39,4861,072,1162,264,628N/A3/30/202411,660,01717,6421,151,6842,778,791N/A12/31/202311,655,708-108,9261,014,5472,635,743N/A9/30/202311,545,222-1,178,326966,6992,627,850N/A6/30/202311,311,072466,421323,3072,267,176N/A3/31/202311,298,210659,265896,8222,406,771N/A12/31/202211,202,5791,064,2291,123,5202,638,088N/A9/30/202211,101,7241,649,3101,845,1583,174,114N/A6/30/202210,959,64971,1772,296,1743,546,788N/A3/31/202210,729,347-13,5191,757,4063,231,588N/A12/31/202110,456,829-435,3291,312,9762,871,240N/A9/30/202110,203,927-213,443914,1722,787,653N/A6/30/202110,055,641-753,429856,9122,526,002N/A3/31/20219,818,355-143,300-65,7011,585,149N/A12/31/20209,407,883-1,523,591-86,8541,461,087N/A9/30/20208,855,690-2,300,521-888,205982,415N/A6/30/20208,259,930-2,337,744-815,233318,663N/A3/31/20207,573,099-3,540,173-1,526,364532,274N/A12/31/20196,987,805-2,187,720-1,909,564175,616N/A9/30/20196,518,630-2,687,800-1,633,755-118,805N/A6/30/20195,977,841-2,975,049-2,535,136516N/A3/31/20195,695,263-3,292,331-2,021,139-353,638N/A12/31/20185,490,311-3,552,620-2,566,502-912,619N/A9/30/20185,299,353-2,703,598N/A-956,294N/A6/30/20185,069,543-3,505,945N/A-488,339N/A3/31/20184,852,274-2,953,240N/A-701,209N/A12/31/20174,668,496-3,022,596N/A-969,398N/A9/30/20174,364,058-3,512,484N/A-1,537,605N/A6/30/20174,196,853-2,472,851N/A-2,445,405N/A3/31/20173,907,316-2,462,675N/A-2,064,149N/A12/31/20163,637,386-1,974,325N/A-1,698,994N/A9/30/20163,343,804-1,508,803N/A-2,209,416N/A6/30/20163,089,214-1,417,536N/A-1,627,426N/A3/31/20163,029,329-1,279,771N/A-1,986,856N/A12/31/20153,025,755-1,565,231N/A-1,823,419N/A9/30/20153,037,434-1,780,920N/A237,840N/A6/30/20153,041,142-1,543,939N/A-455,974N/A3/31/20152,979,846-1,933,952N/A-384,174N/A12/31/20142,954,410-1,382,306N/A-380,921N/A9/30/20142,867,169-1,931,997N/A-1,198,376N/A6/30/20142,730,132-2,357,099N/A-614,274N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: FRENの予測収益成長が 貯蓄率 ( 6.8% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: FRENの収益がID市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: FRENの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: FRENの収益がID市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: FRENの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: FRENの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YTelecom 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2025/04/16 18:22終値2025/04/14 00:00収益2024/12/31年間収益2024/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋PT Smartfren Telecom Tbk 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Aurelia BarusCGS InternationalEtta Rusdiana PutraMaybank Research Pte. Ltd.Paula RuthUOB Kay Hian Research Pte Ltd
お知らせ • Apr 17PT XL Axiata Tbk (IDX:EXCL) completed the acquisition of PT Smartfren Telecom Tbk (IDX:FREN) from Wahana Inti Nusantara, PT, Global Nusa Data PT, Bali Media Telekomunikasi PT and PT. Gerbang Mas Tunggal Sejahtera.PT XL Axiata Tbk (IDX:EXCL) entered into a non-binding Memorandum of Understanding to acquire PT Smartfren Telecom Tbk (IDX:FREN) from Wahana Inti Nusantara, PT, Global Nusa Data PT, Bali Media Telekomunikasi PT and PT. Gerbang Mas Tunggal Sejahtera for IDR 11.9 trillion on May 15, 2024. As of December 10, 2024, PT XL Axiata Tbk (IDX:EXCL) entered into a conditional merger agreement with PT Smartfren Telecom Tbk. The consideration consists of 5.07 billion common equity of PT XL Axiata Tbk to be issued for common equity of PT Smartfren Telecom Tbk. As part of the consideration, PT XL Axiata Tbk will axquire PT Smartfren Telecom Tbk for IDR 25 per share. The merged entity will be named PT XLSmart Telecom Sejahtera Tbk. As part of merger, Sinar Mas will receive 21.7% stake in XLSmart while Axiata stake will be 47.9% stake. PT XL Axiata Tbk will serve as the surviving entity while Smartfren and SmartTel will dissolve by operation of law upon merger completion and become part of XLSmart. PT XL Axiata Tbk and Sinar Mas will remain joint controlling shareholders with 34.8% ownership stake each in PT XL Axiata Tbk. The merger ratio of 72:28 equity value will be split between XL Axiata and Smartfren respectively. The deal is subject to approval by the shareholders of PT Smartfren Telecom Tbk and the shareholders of PT XL Axiata Tbk. The transaction is also subject to approval from Bank Negara Malaysia, IDX, and the Ministry of Communications and Digital of the Republic of Indonesia. A Merger Integration Committee has been set for the deal. The transaction is expected to be completed by the first half of 2025. PT XL Axiata Tbk (IDX:EXCL) will use the funds to primarily pare down debt. The deal will be accretive to PT XL Axiata Tbk (IDX:EXCL). Maybank Investment Bank has been appointed as Principal Adviser to PT XL Axiata Tbk while DB Corporate Advisory (Malaysia) Sdn. Bhd. has been appointed as Exclusive Financial Adviser to PT XL Axiata Tbk. Jonathan Stone, Rajeev Duggal, Jisun Choi, Bruce Goldner, Rory McAlpine and Steve Kwok of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Axiata Group. PT XL Axiata Tbk (IDX:EXCL) completed the acquisition of PT Smartfren Telecom Tbk (IDX:FREN) from Wahana Inti Nusantara, PT, Global Nusa Data PT, Bali Media Telekomunikasi PT and PT. Gerbang Mas Tunggal Sejahtera on April 16, 2025.
お知らせ • Feb 15PT Smartfren Telecom Tbk, Annual General Meeting, Mar 25, 2025PT Smartfren Telecom Tbk, Annual General Meeting, Mar 25, 2025.
Reported Earnings • Nov 16Third quarter 2024 earnings released: Rp1.12 loss per share (vs Rp0.17 loss in 3Q 2023)Third quarter 2024 results: Rp1.12 loss per share (further deteriorated from Rp0.17 loss in 3Q 2023). Revenue: Rp2.97t (down 3.2% from 3Q 2023). Net loss: Rp533.9b (loss widened Rp477.5b from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings.
お知らせ • Sep 23PT Smartfren Telecom Tbk(IDX:FREN) dropped from FTSE All-World Index (USD)PT Smartfren Telecom Tbk(IDX:FREN) dropped from FTSE All-World Index (USD)
Buy Or Sell Opportunity • Sep 02Now 23% overvaluedOver the last 90 days, the stock has fallen 16% to Rp31.00. The fair value is estimated to be Rp25.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Meanwhile, the company became loss making.
Buy Or Sell Opportunity • Aug 15Now 23% overvaluedOver the last 90 days, the stock has fallen 36% to Rp32.00. The fair value is estimated to be Rp26.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Meanwhile, the company has become profitable.
New Risk • Jun 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (42% increase in shares outstanding).
New Risk • Jun 04New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (42% increase in shares outstanding).
Reported Earnings • Jun 04First quarter 2024 earnings released: Rp0.76 loss per share (vs Rp1.13 loss in 1Q 2023)First quarter 2024 results: Rp0.76 loss per share (improved from Rp1.13 loss in 1Q 2023). Revenue: Rp2.78t (flat on 1Q 2023). Net loss: Rp253.4b (loss narrowed 33% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings.
お知らせ • May 21PT Smartfren Telecom Tbk, Annual General Meeting, Jun 25, 2024PT Smartfren Telecom Tbk, Annual General Meeting, Jun 25, 2024.
お知らせ • May 17Axiata, Sinar Mas Explore Merger Between XL and SmartfrenAxiata Group Berhad (KLSE:AXIATA) has entered into a non-binding agreement with Indonesian firms to explore a merger of PT XL Axiata Tbk (IDX:EXCL) and PT Smartfren Telecom Tbk (IDX:FREN) to create a new entity (MergeCo). Axiata said it had signed a memorandum of understanding (MoU) with Wahana Inti Nusantara, PT, Global Nusa Data PT and Bali Media Telekomunikasi PT (collectively referred to as Sinar Mas) on the prospect. In a filing to Bursa Malaysia, Axiata noted the proposal is at an early stage of evaluation with both Axiata and Sinar Mas intending to remain as joint controlling shareholders of MergeCo. "With the intent to create a stronger telecommunications service provider in Indonesia, the proposed merger of XL Axiata and Smartfren is expected to bring together the combined scale, competencies, finances and deep telecommunication expertise of Axiata and the local scale and market knowledge of Sinar Mas to generate significant value. "Both principals are expected to wield an equitable influence over the strategic direction and operational decisions of MergeCo, bolstered by their respective strengths," it noted. There is no certainty that the ongoing discussions between the parties will result into any binding agreement nor the completion of the transaction, it said. "Axiata believes that MergeCo will have the strategic agility, competence and scale to meet increasing expectations and demand from consumers, businesses and the Indonesian public sector. "MergeCo is expected to deliver superior customer experience in the telecommunications sector and create additional shareholder value including through synergies from the combined operations of XL Axiata and Smartfren," it added.
New Risk • Apr 27New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company.
お知らせ • Apr 26Axiata, Sinar Mas Reportedly Move Closer to $3.5 Billion Telco Merger in IndonesiaWireless carrier Axiata Group Berhad (KLSE:AXIATA) and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said. The owners of PT XL Axiata Tbk (IDX:EXCL) and PT Smartfren Telecom Tbk (IDX:FREN) are discussing the structure of a potential transaction that would create a $3.5 billion entity with about 100 million customers, the people said. A deal could involve a mix of cash and shares, they said, asking not to be named as the process is private.
Reported Earnings • Apr 02Full year 2023 earnings releasedFull year 2023 results: Revenue: Rp12t (up 4.0% from FY 2022). Net loss: Rp108.9b (down 110% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
お知らせ • Jan 26PT Smartfren Telecom Tbk has filed a Follow-on Equity Offering in the amount of IDR 8.572949 trillion.PT Smartfren Telecom Tbk has filed a Follow-on Equity Offering in the amount of IDR 8.572949 trillion. Security Name: Shares Security Type: Common Stock Securities Offered: 171,458,978,293 Price\Range: IDR 50 Transaction Features: Rights Offering
Valuation Update With 7 Day Price Move • Sep 11Investor sentiment improves as stock rises 15%After last week's 15% share price gain to Rp61.00, the stock trades at a trailing P/E ratio of 43.9x. Average trailing P/E is 21x in the Wireless Telecom industry in Asia. Total loss to shareholders of 30% over the past three years.
New Risk • Aug 05New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (8.9% increase in shares outstanding).
Reported Earnings • Aug 04Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp2.79t (flat on 2Q 2022). Net loss: Rp163.2b (down Rp192.8b from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 138% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.
Reported Earnings • Apr 13Full year 2022 earnings releasedFull year 2022 results: Revenue: Rp11t (up 7.1% from FY 2021). Net income: Rp1.06t (up Rp1.50t from FY 2021). Profit margin: 9.5% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Board Change • Nov 16No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 2 experienced directors. 4 highly experienced directors. No independent directors (6 non-independent directors). President Director Merza Fachys is the most experienced director on the board, commencing their role in 2007. Independent Commissioner Jagbir Singh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
Board Change • Apr 27No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. 4 highly experienced directors. No independent directors (5 non-independent directors). President Director Merza Fachys is the most experienced director on the board, commencing their role in 2007. Independent Commissioner Jagbir Singh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
Reported Earnings • Mar 17Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Revenue: Rp10t (up 11% from FY 2020). Net loss: Rp435.3b (loss narrowed 71% from FY 2020). Revenue missed analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 20%, compared to a 5.8% growth forecast for the industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 24Second quarter 2021 earnings releasedThe company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: Rp2.54t (up 10% from 2Q 2020). Net loss: Rp55.1b (down 110% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Is New 90 Day High Low • Mar 02New 90-day high: Rp82.00The company is up 22% from its price of Rp67.00 on 02 December 2020. The Indonesian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is up 16% over the same period.
Is New 90 Day High Low • Jan 26New 90-day low: Rp60.00The company is down 14% from its price of Rp70.00 on 27 October 2020. The Indonesian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is up 10.0% over the same period.
Is New 90 Day High Low • Nov 13New 90-day low: Rp61.00The company is down 46% from its price of Rp112 on 14 August 2020. The Indonesian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is down 1.0% over the same period.
Is New 90 Day High Low • Oct 26New 90-day low: Rp68.00The company is down 51% from its price of Rp138 on 28 July 2020. The Indonesian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is flat over the same period.
お知らせ • Sep 24Smartfren Announces Partnership with Whale Cloud to Implement AI to Improve Multichannel Customer EngagementWhale Cloud Technology CO., LTD. announced that Smartfren has partnered with Whale Cloud to upgrade its ZSmart Multi-channel Campaign Management (MCCM), an end-to-end campaign solution to manage omni-channel real-time campaigns during each phase of customers' lifecycle, to retain and grow the customers, thereby significantly improving the margin. The latest ZSmart MCCM can help Smartfren improve customer engagement across a variety of channels including MySmartfren app, WhatsApp, email, SMS, USSI, call center, and social media. The system provides 360-degree customer insights for personalized offers that cover full lifecycle of customer acquisition, conversion and retention. Besides, ZSmart MCCM can evaluate the effectiveness of marketing campaigns to raise the relevancy for customer experience and increase revenue growth.