Indofood CBP Sukses Makmur Future Growth

Future criteria checks 2/6

Indofood CBP Sukses Makmur is forecast to grow earnings and revenue by 14.9% and 7.1% per annum respectively. EPS is expected to grow by 13.6% per annum. Return on equity is forecast to be 20.3% in 3 years.

Key information

14.9%

Earnings growth rate

13.6%

EPS growth rate

Food earnings growth	15.8%
Revenue growth rate	7.1%
Future return on equity	20.3%
Analyst coverage	Good
Last updated	12 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

IDX:ICBP - Analysts future estimates and past financials data (IDR Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	84,535,832	11,677,416	11,999,016	13,193,556	14
12/31/2025	78,425,477	10,667,521	11,508,015	12,024,500	17
12/31/2024	73,264,448	9,466,713	10,152,174	11,502,000	14
9/30/2024	72,088,874	8,079,864	9,570,875	12,718,096	N/A
6/30/2024	70,392,619	4,803,042	10,535,076	13,554,562	N/A
3/31/2024	68,688,646	5,388,246	9,778,815	11,389,880	N/A
12/31/2023	67,909,901	6,990,572	10,591,175	12,415,005	N/A
9/30/2023	67,195,705	8,338,172	8,252,695	10,036,572	N/A
6/30/2023	66,682,863	8,382,286	8,738,822	10,634,095	N/A
3/31/2023	66,752,168	6,600,763	7,754,026	9,767,278	N/A
12/31/2022	64,797,516	4,587,367	7,015,618	8,804,494	N/A
9/30/2022	63,090,739	4,739,090	6,251,170	7,842,916	N/A
6/30/2022	61,197,903	5,108,349	5,249,030	6,858,277	N/A
3/31/2022	58,899,834	6,603,588	6,043,168	7,952,602	N/A
12/31/2021	56,803,733	6,399,431	5,739,288	7,989,039	N/A
9/30/2021	55,366,214	7,593,658	6,323,740	8,945,394	N/A
6/30/2021	51,792,737	6,430,181	6,569,508	9,082,345	N/A
3/31/2021	49,726,851	6,341,316	7,323,808	9,499,956	N/A
12/31/2020	46,641,048	6,586,907	7,417,610	9,336,780	N/A
9/30/2020	43,403,251	5,116,007	6,667,796	8,129,402	N/A
6/30/2020	43,214,032	5,842,182	6,275,775	7,950,491	N/A
3/31/2020	43,047,662	5,684,094	6,130,305	7,895,652	N/A
12/31/2019	42,296,703	5,038,789	5,364,323	7,398,161	N/A
9/30/2019	41,725,471	4,976,456	3,568,953	6,215,870	N/A
6/30/2019	41,084,204	4,859,347	1,809,075	5,640,812	N/A
3/31/2019	39,788,472	4,700,036	576,410	4,316,250	N/A
12/31/2018	38,413,407	4,575,799	1,141,745	4,653,375	N/A
9/30/2018	37,654,385	4,239,772	2,094,702	5,088,075	N/A
6/30/2018	36,605,082	3,995,568	N/A	5,940,564	N/A
3/31/2018	36,029,055	3,917,685	N/A	5,750,144	N/A
12/31/2017	35,606,593	3,796,545	N/A	5,174,368	N/A
9/30/2017	35,334,459	3,809,962	N/A	5,751,763	N/A
6/30/2017	34,660,949	3,713,151	N/A	4,376,337	N/A
3/31/2017	34,911,222	3,747,323	N/A	4,337,001	N/A
12/31/2016	34,375,236	3,600,351	N/A	4,584,964	N/A
9/30/2016	34,116,595	3,388,753	N/A	4,638,647	N/A
6/30/2016	33,364,952	3,241,506	N/A	3,951,930	N/A
3/31/2016	32,695,492	3,148,706	N/A	4,128,801	N/A
12/31/2015	31,741,094	3,000,713	N/A	3,485,533	N/A
9/30/2015	31,334,302	2,988,243	N/A	2,866,803	N/A
6/30/2015	31,051,425	3,023,987	N/A	3,351,285	N/A
3/31/2015	30,635,108	2,742,905	N/A	3,398,926	N/A
12/31/2014	30,022,463	2,644,843	N/A	3,860,843	N/A
9/30/2014	29,001,806	2,471,617	N/A	2,854,104	N/A
6/30/2014	28,039,056	2,328,633	N/A	2,767,105	N/A
3/31/2014	26,355,715	2,280,240	N/A	2,393,667	N/A
12/31/2013	25,094,681	2,225,272	N/A	1,993,496	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICBP's forecast earnings growth (14.9% per year) is above the savings rate (6.8%).

Earnings vs Market: ICBP's earnings (14.9% per year) are forecast to grow slower than the ID market (19.2% per year).

High Growth Earnings: ICBP's earnings are forecast to grow, but not significantly.

Revenue vs Market: ICBP's revenue (7.1% per year) is forecast to grow slower than the ID market (9.8% per year).

High Growth Revenue: ICBP's revenue (7.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ICBP's Return on Equity is forecast to be high in 3 years time (20.3%)

Indofood CBP Sukses Makmur Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Consensus EPS estimates increase by 13%

Recent updates

Consensus EPS estimates increase by 13%

Third quarter 2024 earnings: EPS and revenues exceed analyst expectations

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

PT Indofood CBP Sukses Makmur Tbk, Annual General Meeting, Jun 28, 2024

First quarter 2024 earnings released: EPS: Rp202 (vs Rp339 in 1Q 2023)

Full year 2023 earnings: EPS misses analyst expectations

Now 20% undervalued after recent price drop

Second quarter 2023 earnings released: EPS: Rp152 (vs Rp0.92 loss in 2Q 2022)

Third quarter 2022 earnings released: EPS: Rp118 (vs Rp150 in 3Q 2021)

No independent directors

Second quarter 2022 earnings released: Rp0.93 loss per share (vs Rp127 profit in 2Q 2021)

First quarter 2022 earnings: EPS misses analyst expectations

No independent directors

Full year 2021 earnings: EPS misses analyst expectations

Third quarter 2021 earnings: EPS and revenues exceed analyst expectations

Second quarter 2021 earnings released: EPS Rp127 (vs Rp120 in 2Q 2020)

First quarter 2021 earnings released: EPS Rp149 (vs Rp170 in 1Q 2020)

Full year 2020 earnings released: EPS Rp565 (vs Rp432 in FY 2019)

New 90-day low: Rp8,750

New 90-day low: Rp9,100

New 90-day low: Rp9,525

Revenue and earnings miss expectations

Third quarter 2020 earnings released: EPS Rp50.23

New 90-day low: Rp9,600

PT Indofood CBP Sukses Makmur Tbk (IDX:ICBP) completed the acquisition of Pinehill Company Limited from ASM Telok Ayer Fund, managed by Argyle Street Management Limited, Anthoni Salim and others.

First half earnings released

New 90-day high - Rp10,025

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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