Trimegah Sekuritas Indonesia Valuation

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

TRIM (IDR316) is trading above our estimate of [[fair value]] (IDR151.76)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: TRIM (IDR316) is trading above our estimate of fair value (IDR151.76)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TRIM. This is calculated by dividing TRIM's market cap by their current earnings.
What is TRIM's PE Ratio?
PE Ratio	12x
Earnings	Rp186.91b
Market Cap	Rp2.25t

TRIM 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 TRIM's PE Ratio compare to its peers?

The above table shows the PE ratio for TRIM 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	32.8x
BCAP MNC Kapital Indonesia	30.7x	n/a	Rp2.3t
PANS Panin Sekuritas	12.6x	n/a	Rp1.2t
YULE Yulie Sekuritas Indonesia	66.3x	n/a	Rp4.0t
RELI Reliance Sekuritas Indonesia	21.5x	n/a	Rp802.8b
TRIM Trimegah Sekuritas Indonesia	12x	n/a	Rp2.2t

Price-To-Earnings vs Peers: TRIM is good value based on its Price-To-Earnings Ratio (12x) compared to the peer average (32.8x).

Price to Earnings Ratio vs Industry

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

40 Companies	Price / Earnings	Estimated Growth	Market Cap

40 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: TRIM is good value based on its Price-To-Earnings Ratio (12x) compared to the Asian Capital Markets industry average (17.6x).

Price to Earnings Ratio vs Fair Ratio

What is TRIM'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.

TRIM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12x
Fair PE Ratio	n/a

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