Lancartama Sejati Valuation

Q: What is the Fair Price of TAMA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

TAMA (IDR14) is trading below our estimate of [[fair value]] (IDR191.19)

Is TAMA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TAMA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TAMA (IDR14) is trading below our estimate of fair value (IDR191.19)

Significantly Below Fair Value: TAMA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TAMA?

Key metric: As TAMA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for TAMA. This is calculated by dividing TAMA's market cap by their current revenue.
What is TAMA's PS Ratio?
PS Ratio	0.7x
Sales	Rp23.52b
Market Cap	Rp16.80b

TAMA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	6.3x
Enterprise Value/EBITDA	24x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does TAMA's PS Ratio compare to its peers?

The above table shows the PS ratio for TAMA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.3x
PTDU Djasa Ubersakti	0.5x	n/a	Rp25.5b
FIMP Fimperkasa Utama	8x	n/a	Rp18.0b
TOPS Totalindo Eka Persada	0.2x	n/a	Rp33.3b
KRYA Bangun Karya Perkasa Jaya	0.4x	n/a	Rp91.5b
TAMA Lancartama Sejati	0.7x	n/a	Rp16.8b

Price-To-Sales vs Peers: TAMA is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (2.3x).

Price to Sales Ratio vs Industry

How does TAMA's PS Ratio compare vs other companies in the ID Construction Industry?

14 Companies	Price / Sales	Estimated Growth	Market Cap
WIKA Wijaya Karya (Persero)	0.6x	n/a	US$768.65m
WSKT Waskita Karya (Persero)	0.4x	14.8%	US$383.23m
BUKK Bukaka Teknik Utama	0.5x	n/a	US$158.03m
PTPP PP (Persero)	0.1x	8.0%	US$155.09m

14 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TAMA is good value based on its Price-To-Sales Ratio (0.7x) compared to the ID Construction industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is TAMA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TAMA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.7x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate TAMA's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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