DB:QF9

Stock Analysis Report

Multi Indocitra

Executive Summary

PT Multi Indocitra Tbk produces and trades in baby and health care products, and cosmetics in Indonesia.

Rewards

PE ratio (6.2x) is below the German market (20.9x)

Risk Analysis

Unstable dividend track record

Large one-off items impacting financial results

Does not have a meaningful market cap (€206B)



Snowflake Analysis

Fair value with mediocre balance sheet.

Share Price & News

How has Multi Indocitra's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: QF9 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

QF9

-0.6%

DE Retail Distributors

0.1%

DE Market


1 Year Return

-13.9%

QF9

20.2%

DE Retail Distributors

14.1%

DE Market

Return vs Industry: QF9 underperformed the German Retail Distributors industry which returned 21.1% over the past year.

Return vs Market: QF9 underperformed the German Market which returned 15.1% over the past year.


Shareholder returns

QF9IndustryMarket
7 Day0%-0.6%0.1%
30 Day0%-4.4%0.2%
90 Day6.9%2.6%3.3%
1 Year-10.8%-13.9%24.4%20.2%17.6%14.1%
3 Year-12.8%-22.5%13.0%1.9%14.8%4.8%
5 Year14.5%-3.1%36.3%17.0%22.2%5.4%

Price Volatility Vs. Market

How volatile is Multi Indocitra's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Multi Indocitra undervalued compared to its fair value and its price relative to the market?

6.17x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: QF9 (€0.02) is trading above our estimate of fair value (€0)

Significantly Below Fair Value: QF9 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: QF9 is good value based on its PE Ratio (6.2x) compared to the Retail Distributors industry average (13.4x).

PE vs Market: QF9 is good value based on its PE Ratio (6.2x) compared to the German market (20.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate QF9's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: QF9 is good value based on its PB Ratio (0.3x) compared to the XE Retail Distributors industry average (1.6x).


Next Steps

Future Growth

How is Multi Indocitra forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.4%

Forecasted Retail industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Multi Indocitra has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Multi Indocitra performed over the past 5 years?

6.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: QF9 has a large one-off gain of IDR13.8B impacting its September 30 2019 financial results.

Growing Profit Margin: QF9's current net profit margins (4.6%) are lower than last year (5.5%).


Past Earnings Growth Analysis

Earnings Trend: QF9's earnings have grown by 6.4% per year over the past 5 years.

Accelerating Growth: QF9's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: QF9 had negative earnings growth (-2.4%) over the past year, making it difficult to compare to the Retail Distributors industry average (-1.9%).


Return on Equity

High ROE: QF9's Return on Equity (4.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Multi Indocitra's financial position?


Financial Position Analysis

Short Term Liabilities: QF9's short term assets (IDR475.9B) exceed its short term liabilities (IDR293.6B).

Long Term Liabilities: QF9's short term assets (IDR475.9B) exceed its long term liabilities (IDR72.5B).


Debt to Equity History and Analysis

Debt Level: QF9's debt to equity ratio (39.5%) is considered satisfactory.

Reducing Debt: QF9's debt to equity ratio has increased from 11.1% to 39.5% over the past 5 years.

Debt Coverage: QF9's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: QF9's interest payments on its debt are not well covered by EBIT (2.1x coverage).


Balance Sheet

Inventory Level: QF9 has a high level of physical assets or inventory.

Debt Coverage by Assets: QF9's debt is covered by short term assets (assets are 1.9x debt).


Next Steps

Dividend

What is Multi Indocitra's current dividend yield, its reliability and sustainability?

2.89%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%1.3%markettop25%3.6%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: QF9's dividend (2.89%) is higher than the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: QF9's dividend (2.89%) is low compared to the top 25% of dividend payers in the German market (3.59%).


Stability and Growth of Payments

Stable Dividend: QF9's dividend payments have been volatile in the past 10 years.

Growing Dividend: QF9's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (17.8%), QF9's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.5yrs

Average board tenure


CEO

Anthony Honoris (36yo)

4.8yrs

Tenure

0

Mr. Anthony Honoris has been a Director of PT Multi Indocitra Tbk since may 2013. Mr. Honoris graduated from melbourne university of business management in 2005. 


Board Members

NamePositionTenureCompensationOwnership
Anthony Honoris
President Director4.8yrsno data0.14% IDR18.9k
Alka Tranggana
President Commissioner7.8yrsno datano data
H. Syafei
Independent Commissioner11.8yrsno datano data
Budiman Gitaloka
Independent Director7.3yrsno datano data
Budi Setyawan
Commissioner7.8yrsno datano data
Hendro Wibowo
Independent Director5.5yrsno datano data

7.5yrs

Average Tenure

50yo

Average Age

Experienced Board: QF9's board of directors are considered experienced (7.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PT Multi Indocitra Tbk's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PT Multi Indocitra Tbk
  • Ticker: QF9
  • Exchange: DB
  • Founded: 1990
  • Industry: Distributors
  • Sector: Retail
  • Market Cap: Rp206.016b
  • Listing Market Cap: Rp13.879m
  • Shares outstanding: 595.42m
  • Website: https://www.mic.co.id

Number of Employees


Location

  • PT Multi Indocitra Tbk
  • Green Central City
  • 6th Floor
  • West Jakarta
  • Jakarta Raya
  • 11120
  • Indonesia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MICEIDX (Indonesia Stock Exchange)YesCommon StockIDIDRDec 2005
QF9DB (Deutsche Boerse AG)YesCommon StockDEEURDec 2005

Biography

PT Multi Indocitra Tbk produces and trades in baby and health care products, and cosmetics in Indonesia. It offers bottle teats, pacifiers, breast pumps, baby toiletries, diapers, wet wipes, and toys, as well as a range of products for senior citizens under the Pigeon brand name. The company also provides kitchen and houseware items, such as plastic airtight containers under the Lock&Lock brand name. In addition, it is involved in the retail sale of baby products. The company offers its products through its own distribution centers, as well as third party suppliers and sub-distributors. The company was founded in 1990 and is based in West Jakarta, Indonesia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 21:20
End of Day Share Price2020/02/18 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.