Agung Semesta Sejahtera Valuation

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

TARA (IDR10) is trading above our estimate of [[fair value]] (IDR0.05)

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

Valuation Score

0/6

Valuation Score 0/6

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 TARA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TARA (IDR10) is trading above our estimate of fair value (IDR0.05)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TARA. This is calculated by dividing TARA's market cap by their current revenue.
What is TARA's PS Ratio?
PS Ratio	22.9x
Sales	Rp4.40b
Market Cap	Rp100.70b

TARA 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	21.7x
Enterprise Value/EBITDA	-46.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TARA 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	3.7x
SMKM Sumber Mas Konstruksi	1.1x	n/a	Rp110.3b
KRYA Bangun Karya Perkasa Jaya	0.4x	n/a	Rp86.5b
KOKA Koka Indonesia	2x	n/a	Rp151.7b
MTPS Meta Epsi	11.5x	n/a	Rp25.0b
TARA Agung Semesta Sejahtera	22.9x	n/a	Rp100.7b

Price-To-Sales vs Peers: TARA is expensive based on its Price-To-Sales Ratio (22.9x) compared to the peer average (3.7x).

Price to Sales Ratio vs Industry

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

15 Companies	Price / Sales	Estimated Growth	Market Cap
WIKA Wijaya Karya (Persero)	0.6x	n/a	US$723.44m
WSKT Waskita Karya (Persero)	0.4x	14.8%	US$383.23m
BUKK Bukaka Teknik Utama	0.5x	n/a	US$157.20m
PTPP PP (Persero)	0.1x	8.0%	US$147.30m

15 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TARA is expensive based on its Price-To-Sales Ratio (22.9x) compared to the ID Construction industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is TARA'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.

TARA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	22.9x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate TARA'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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