PP (Persero) (IDX:PTPP) - Share price, News & Analysis

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

PTPP Stock Overview

PT PP (Persero) Tbk operates as a construction and investment company in Indonesia.

Rewards

PE ratio (21.3x) is below the Construction industry average (26.9x)

Earnings are forecast to grow 31.15% per year

Earnings grew by 41.7% over the past year

Risk Analysis

Interest payments are not well covered by earnings

Large one-off items impacting financial results

PP (Persero) Competitors

Price History & Performance

Summary of all time highs, changes and price drops for PP (Persero)
Historical stock prices
Current Share Price	Rp880.00
52 Week High	Rp1,370.00
52 Week Low	Rp800.00
Beta	2.56
1 Month Change	-6.88%
3 Month Change	-14.15%
1 Year Change	-18.52%
3 Year Change	-53.44%
5 Year Change	-72.50%
Change since IPO	51.72%

Shareholder Returns

	PTPP	ID Construction	ID Market
7D	-1.1%	-0.5%	3.1%
1Y	-18.5%	-32.3%	18.2%

Return vs Industry: PTPP exceeded the ID Construction industry which returned -32.3% over the past year.

Return vs Market: PTPP underperformed the ID Market which returned 18.2% over the past year.

Price Volatility

Is PTPP's price volatile compared to industry and market?
PTPP volatility
PTPP Average Weekly Movement	6.2%
Construction Industry Average Movement	6.1%
Market Average Movement	6.2%
10% most volatile stocks in ID Market	12.1%
10% least volatile stocks in ID Market	3.0%

Stable Share Price: PTPP is not significantly more volatile than the rest of ID stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PTPP's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1953	1,804	Novel Arsyad	https://www.ptpp.co.id

PT PP (Persero) Tbk operates as a construction and investment company in Indonesia. The company operates through Construction; Engineering, Procurement, and Construction (EPC); Property and Realty; Precast; Equipment Rent Service; and Energy segments. It develops high-rise buildings, roads and bridges, dams and irrigation projects, ports, airports, and power plants; and develops, constructs, and operates commercial buildings, hotels, apartments, offices, settlements, shopping centers, trade centers, residential properties, and other facilities.

PP (Persero) Fundamentals Summary

How do PP (Persero)'s earnings and revenue compare to its market cap?
PTPP fundamental statistics
Market Cap	Rp5.44t
Earnings (TTM)	Rp255.89b
Revenue (TTM)	Rp18.21t

21.3x

P/E Ratio

0.3x

P/S Ratio

Is PTPP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PTPP income statement (TTM)
Revenue	Rp18.21t
Cost of Revenue	Rp15.90t
Gross Profit	Rp2.30t
Other Expenses	Rp2.05t
Earnings	Rp255.89b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	41.37
Gross Margin	12.66%
Net Profit Margin	1.41%
Debt/Equity Ratio	134.9%

How did PTPP perform over the long term?

See historical performance and comparison

Valuation

Is PP (Persero) 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

21.27x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: PTPP (IDR880) is trading above our estimate of fair value (IDR148.06)

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

Price To Earnings Ratio

PE vs Industry: PTPP is good value based on its PE Ratio (21.3x) compared to the ID Construction industry average (26.9x).

PE vs Market: PTPP is poor value based on its PE Ratio (21.3x) compared to the ID market (18.5x).

Price to Earnings Growth Ratio

PEG Ratio: PTPP is good value based on its PEG Ratio (0.7x)

Price to Book Ratio

PB vs Industry: PTPP is good value based on its PB Ratio (0.5x) compared to the ID Construction industry average (0.8x).

Future Growth

How is PP (Persero) forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

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

31.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PTPP's forecast earnings growth (31.2% per year) is above the savings rate (7%).

Earnings vs Market: PTPP's earnings (31.2% per year) are forecast to grow faster than the ID market (11.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PTPP's revenue (9.9% per year) is forecast to grow slower than the ID market (11.3% per year).

High Growth Revenue: PTPP's revenue (9.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PTPP's Return on Equity is forecast to be low in 3 years time (6%).

Past Performance

How has PP (Persero) performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

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

-34.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PTPP has a large one-off gain of IDR564.7B impacting its March 31 2022 financial results.

Growing Profit Margin: PTPP's current net profit margins (1.4%) are higher than last year (1.2%).

Past Earnings Growth Analysis

Earnings Trend: PTPP's earnings have declined by 34% per year over the past 5 years.

Accelerating Growth: PTPP's earnings growth over the past year (41.7%) exceeds its 5-year average (-34% per year).

Earnings vs Industry: PTPP earnings growth over the past year (41.7%) exceeded the Construction industry 27.8%.

Return on Equity

High ROE: PTPP's Return on Equity (2.5%) is considered low.

Financial Health

How is PP (Persero)'s financial position?

Financial Health Score

2/6

Financial Health Score 2/6

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

Financial Position Analysis

Short Term Liabilities: PTPP's short term assets (IDR33,947.1B) exceed its short term liabilities (IDR30,841.9B).

Long Term Liabilities: PTPP's short term assets (IDR33,947.1B) exceed its long term liabilities (IDR11,311.0B).

Debt to Equity History and Analysis

Debt Level: PTPP's net debt to equity ratio (101%) is considered high.

Reducing Debt: PTPP's debt to equity ratio has increased from 62.5% to 134.9% over the past 5 years.

Debt Coverage: PTPP's debt is not well covered by operating cash flow (3.3%).

Interest Coverage: PTPP's interest payments on its debt are not well covered by EBIT (0.8x coverage).

Balance Sheet

Dividend

What is PP (Persero) current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

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

2.16%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PTPP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PTPP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PTPP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PTPP's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: PTPP is not paying a notable dividend for the ID market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PTPP has not reported any payouts.

Discover strong dividend paying companies

Management

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

5.3yrs

Average management tenure

CEO

Novel Arsyad (54 yo)

1.92yrs

Tenure

Ir. Novel Arsyad, MM. serves as President Director at PT PP (Persero) Tbk since June 04, 2020. He served as Human Capital and System Development Director and Director of PT Wijaya Karya (Persero) Tbk since...

Leadership Team

Experienced Management: PTPP's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Experienced Board: PTPP's board of directors are not considered experienced ( 1.9 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	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31