Bukitm (IDX:PTBA) - Share price, News & Analysis

PTBA fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	6/6
Financial Health	6/6
Dividends	3/6

PTBA Stock Overview

PT Bukit Asam Tbk, together with its subsidiaries, engages in the coal mining activities in Indonesia.

Rewards

Trading at 35.2% below our estimate of its fair value

Earnings grew by 231.4% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 9.6% per year for the next 3 years

Unstable dividend track record

Shareholders have been diluted in the past year

Bukitm Competitors

Bayan Resources

IDX:BYAN

Rp150.7t

Adaro Energy Indonesia

IDX:ADRO

Rp99.8t

Golden Energy Mines

IDX:GEMS

Rp35.9t

Indo Tambangraya Megah

IDX:ITMG

Rp34.8t

Price History & Performance

Summary of all time highs, changes and price drops for Bukitm
Historical stock prices
Current Share Price	Rp3,800.00
52 Week High	Rp3,860.00
52 Week Low	Rp1,995.00
Beta	0.43
1 Month Change	0.80%
3 Month Change	30.58%
1 Year Change	68.14%
3 Year Change	35.23%
5 Year Change	76.74%
Change since IPO	3,066.67%

Shareholder Returns

	PTBA	ID Oil and Gas	ID Market
7D	0.8%	0.4%	-7.3%
1Y	68.1%	93.7%	12.6%

Return vs Industry: PTBA underperformed the ID Oil and Gas industry which returned 93.7% over the past year.

Return vs Market: PTBA exceeded the ID Market which returned 12.6% over the past year.

Price Volatility

Is PTBA's price volatile compared to industry and market?
PTBA volatility
PTBA Average Weekly Movement	5.8%
Oil and Gas Industry Average Movement	8.3%
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: PTBA is not significantly more volatile than the rest of ID stocks over the past 3 months, typically moving +/- 6% a week.

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

About the Company

Founded	Employees	CEO	Website
1919	1,827	Arsal Ismail	https://www.ptba.co.id

PT Bukit Asam Tbk, together with its subsidiaries, engages in the coal mining activities in Indonesia. Its coal mining activities include general surveying, exploration, exploitation, processing, refining, transportation, and trading. It manages special coal port facilities; operates steam power plants; and provides consulting services related to the coal mining industry and production.

Bukitm Fundamentals Summary

How do Bukitm's earnings and revenue compare to its market cap?
PTBA fundamental statistics
Market Cap	Rp43.65t
Earnings (TTM)	Rp7.91t
Revenue (TTM)	Rp29.26t

5.5x

P/E Ratio

1.5x

P/S Ratio

Is PTBA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PTBA income statement (TTM)
Revenue	Rp29.26t
Cost of Revenue	Rp15.48t
Gross Profit	Rp13.79t
Other Expenses	Rp5.88t
Earnings	Rp7.91t

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	688.51
Gross Margin	47.11%
Net Profit Margin	27.03%
Debt/Equity Ratio	0.02%

How did PTBA perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

11%

Payout Ratio

Valuation

Is Bukitm undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

35.2%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: PTBA (IDR3800) is trading below our estimate of fair value (IDR5866.88)

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

Price To Earnings Ratio

PE vs Industry: PTBA is good value based on its PE Ratio (5.5x) compared to the ID Oil and Gas industry average (10.7x).

PE vs Market: PTBA is good value based on its PE Ratio (5.5x) compared to the ID market (18.7x).

Price to Earnings Growth Ratio

PEG Ratio: PTBA's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: PTBA's PB Ratio (1.8x) is in line with the ID Oil and Gas industry average.

Future Growth

How is Bukitm forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

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

-9.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PTBA's earnings are forecast to decline over the next 3 years (-9.6% per year).

Earnings vs Market: PTBA's earnings are forecast to decline over the next 3 years (-9.6% per year).

High Growth Earnings: PTBA's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PTBA's revenue (1.3% per year) is forecast to grow slower than the ID market (10.6% per year).

High Growth Revenue: PTBA's revenue (1.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PTBA's Return on Equity is forecast to be low in 3 years time (18%).

Past Performance

How has Bukitm performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

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

4.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PTBA has high quality earnings.

Growing Profit Margin: PTBA's current net profit margins (27%) are higher than last year (13.8%).

Past Earnings Growth Analysis

Earnings Trend: PTBA's earnings have grown by 4.1% per year over the past 5 years.

Accelerating Growth: PTBA's earnings growth over the past year (231.4%) exceeds its 5-year average (4.1% per year).

Earnings vs Industry: PTBA earnings growth over the past year (231.4%) exceeded the Oil and Gas industry 103.2%.

Return on Equity

High ROE: PTBA's Return on Equity (33.1%) is considered high.

Financial Health

How is Bukitm's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

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

Financial Position Analysis

Short Term Liabilities: PTBA's short term assets (IDR18,211.5B) exceed its short term liabilities (IDR7,500.6B).

Long Term Liabilities: PTBA's short term assets (IDR18,211.5B) exceed its long term liabilities (IDR4,369.3B).

Debt to Equity History and Analysis

Debt Level: PTBA has more cash than its total debt.

Reducing Debt: PTBA's debt to equity ratio has reduced from 15.2% to 0.02% over the past 5 years.

Debt Coverage: PTBA's debt is well covered by operating cash flow (181735.3%).

Interest Coverage: PTBA earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is Bukitm current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

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

1.97%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PTBA's dividend (1.97%) is higher than the bottom 25% of dividend payers in the ID market (1.15%).

High Dividend: PTBA's dividend (1.97%) is low compared to the top 25% of dividend payers in the ID market (4.19%).

Stability and Growth of Payments

Stable Dividend: PTBA's dividend payments have been volatile in the past 10 years.

Growing Dividend: PTBA's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (10.7%), PTBA's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (8.8%), PTBA's dividend payments are thoroughly covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Energy industry.

Management

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

0.8yrs

Average management tenure

CEO

Arsal Ismail (57 yo)

0.42

Tenure

Mr. Arsal Ismail is President Director at PT Bukit Asam Tbk since December 2021. He was Director of Business Development and Director at PT Jasa Marga (Persero) Tbk since June 11, 2020. He served as the Ch...

Leadership Team

Experienced Management: PTBA's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: PTBA's board of directors are not considered experienced ( 1.1 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 been diluted in the past year, with total shares outstanding growing by 2.7%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/16 00:00
End of Day Share Price	2022/05/13 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31