Panin Sekuritas Valuation

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

PANS (IDR1635) is trading below our estimate of [[fair value]] (IDR1771.77)

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

Valuation Score

3/6

Valuation Score 3/6

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

Share Price vs Fair Value

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

Below Fair Value: PANS (IDR1635) is trading below our estimate of fair value (IDR1771.77)

Significantly Below Fair Value: PANS is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As PANS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PANS. This is calculated by dividing PANS's market cap by their current earnings.
What is PANS's PE Ratio?
PE Ratio	12.7x
Earnings	Rp91.95b
Market Cap	Rp1.16t

PANS 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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does PANS's PE Ratio compare to its peers?

The above table shows the PE ratio for PANS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	33.4x
RELI Reliance Sekuritas Indonesia	21.9x	n/a	Rp817.2b
BCAP MNC Kapital Indonesia	33.5x	n/a	Rp2.6t
YULE Yulie Sekuritas Indonesia	66.1x	n/a	Rp4.0t
TRIM Trimegah Sekuritas Indonesia	12.1x	n/a	Rp2.6t
PANS Panin Sekuritas	12.7x	n/a	Rp1.2t

Price-To-Earnings vs Peers: PANS is good value based on its Price-To-Earnings Ratio (12.7x) compared to the peer average (33.4x).

Price to Earnings Ratio vs Industry

How does PANS's PE Ratio compare vs other companies in the Asian Capital Markets Industry?

41 Companies	Price / Earnings	Estimated Growth	Market Cap

41 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: PANS is good value based on its Price-To-Earnings Ratio (12.7x) compared to the Asian Capital Markets industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

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

PANS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.7x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PANS's Price-To-Earnings 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.