Indospring (IDX:INDS) - Share price, News & Analysis

INDS fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	4/6
Financial Health	5/6
Dividends	2/6

INDS Stock Overview

PT Indospring Tbk manufactures and sells leaf and coil springs to the automotive industry in South East Asia.

Rewards

Price-To-Earnings ratio (8.6x) is below the ID market (18.3x)

Earnings have grown 8.1% per year over the past 5 years

Risk Analysis

Dividend of 3.85% is not well covered by earnings

Does not have a meaningful market cap (IDR1,450B)

Indospring Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Indospring
Historical stock prices
Current Share Price	Rp2,210.00
52 Week High	Rp2,400.00
52 Week Low	Rp1,755.00
Beta	0.75
1 Month Change	0.91%
3 Month Change	1.38%
1 Year Change	22.44%
3 Year Change	-3.07%
5 Year Change	166.27%
Change since IPO	184.38%

Shareholder Returns

	INDS	ID Auto Components	ID Market
7D	1.4%	-0.7%	2.2%
1Y	22.4%	12.2%	17.3%

Return vs Industry: INDS exceeded the ID Auto Components industry which returned 12.2% over the past year.

Return vs Market: INDS exceeded the ID Market which returned 17.3% over the past year.

Price Volatility

Is INDS's price volatile compared to industry and market?
INDS volatility
INDS Average Weekly Movement	3.6%
Auto Components Industry Average Movement	4.8%
Market Average Movement	6.2%
10% most volatile stocks in ID Market	12.0%
10% least volatile stocks in ID Market	2.9%

Stable Share Price: INDS is less volatile than 75% of ID stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: INDS's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1978	1,828	Wiranto Nurhadi	https://www.indospring.co.id

PT Indospring Tbk manufactures and sells leaf and coil springs to the automotive industry in South East Asia. It offers parabolic, trailing, and yoko-oki leaf springs; and tension, compression, valve, and hot coil springs, as well as wire rings and stabilizer bars. The company was founded in 1978 and is based in Gresik, Indonesia.

Indospring Fundamentals Summary

How do Indospring's earnings and revenue compare to its market cap?
INDS fundamental statistics
Market Cap	Rp1.45t
Earnings (TTM)	Rp167.82b
Revenue (TTM)	Rp2.35t

8.6x

P/E Ratio

0.6x

P/S Ratio

Is INDS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
INDS income statement (TTM)
Revenue	Rp2.35t
Cost of Revenue	Rp1.88t
Gross Profit	Rp476.22b
Other Expenses	Rp308.39b
Earnings	Rp167.82b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	255.73
Gross Margin	20.25%
Net Profit Margin	7.14%
Debt/Equity Ratio	0.6%

How did INDS perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

33%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

8.64x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: INDS (IDR2210) is trading above our estimate of fair value (IDR548.37)

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

Price To Earnings Ratio

PE vs Industry: INDS is good value based on its Price-To-Earnings Ratio (8.6x) compared to the ID Auto Components industry average (12.3x).

PE vs Market: INDS is good value based on its Price-To-Earnings Ratio (8.6x) compared to the ID market (18.3x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: INDS is good value based on its Price-To-Book Ratio (0.5x) compared to the ID Auto Components industry average (0.8x).

Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

24.1%

Forecasted Automobiles 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 Indospring 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.

Past Performance

How has Indospring performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

8.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: INDS has high quality earnings.

Growing Profit Margin: INDS's current net profit margins (7.1%) are higher than last year (5.7%).

Past Earnings Growth Analysis

Earnings Trend: INDS's earnings have grown by 8.1% per year over the past 5 years.

Accelerating Growth: INDS's earnings growth over the past year (75.4%) exceeds its 5-year average (8.1% per year).

Earnings vs Industry: INDS earnings growth over the past year (75.4%) underperformed the Auto Components industry 75.4%.

Return on Equity

High ROE: INDS's Return on Equity (6.3%) is considered low.

Financial Health

How is Indospring's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: INDS's short term assets (IDR1,270.8B) exceed its short term liabilities (IDR254.2B).

Long Term Liabilities: INDS's short term assets (IDR1,270.8B) exceed its long term liabilities (IDR105.1B).

Debt to Equity History and Analysis

Debt Level: INDS has more cash than its total debt.

Reducing Debt: INDS's debt to equity ratio has reduced from 9.3% to 0.6% over the past 5 years.

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

Interest Coverage: INDS earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is Indospring current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

3.85%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: INDS's dividend (3.85%) is higher than the bottom 25% of dividend payers in the ID market (1.14%).

High Dividend: INDS's dividend (3.85%) is low compared to the top 25% of dividend payers in the ID market (4.14%).

Stability and Growth of Payments

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

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

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (33.2%), INDS's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: INDS is paying a dividend but the company has no free cash flows.

Discover strong dividend paying companies

Management

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

6.4yrs

Average management tenure

CEO

Wiranto Nurhadi (57 yo)

Tenure

Mr. Wiranto Nurhadi serves as the President Director at PT Indospring Tbk since May 2021 and served as its President Commissioner since 1999 until 2021. He has been President Director of PT. Indoprima Gemi...

Leadership Team

Experienced Management: INDS's management team is seasoned and experienced (6.4 years average tenure).

Board Members

Experienced Board: INDS's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.

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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/23 00:00
Earnings	2021/09/30
Annual Earnings	2020/12/31