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MAIN

Malindo Feedmill IDX:MAIN Stock Report

Last Price

Rp625.00

Market Cap

Rp1.4t

7D

2.5%

1Y

-19.4%

Updated

15 Aug, 2022

Data

Company Financials +
MAIN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance0/6
Financial Health2/6
Dividends0/6

MAIN Stock Overview

PT Malindo Feedmill Tbk, together with its subsidiaries, engages in the animal feed, breeding and broiler farm, and food processing businesses in Indonesia.

Malindo Feedmill Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Malindo Feedmill
Historical stock prices
Current Share PriceRp625.00
52 Week HighRp845.00
52 Week LowRp595.00
Beta1.55
1 Month Change1.63%
3 Month Change3.31%
1 Year Change-19.36%
3 Year Change-34.56%
5 Year Change-32.43%
Change since IPO247.22%

Recent News & Updates

Shareholder Returns

MAINID FoodID Market
7D2.5%-1.4%-0.2%
1Y-19.4%3.1%13.3%

Return vs Industry: MAIN underperformed the ID Food industry which returned 3.4% over the past year.

Return vs Market: MAIN underperformed the ID Market which returned 13% over the past year.

Price Volatility

Is MAIN's price volatile compared to industry and market?
MAIN volatility
MAIN Average Weekly Movement2.7%
Food Industry Average Movement5.2%
Market Average Movement5.9%
10% most volatile stocks in ID Market11.4%
10% least volatile stocks in ID Market2.9%

Stable Share Price: MAIN is less volatile than 75% of ID stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: MAIN's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19973,685Tuang Lauhttps://www.malindofeedmill.com

PT Malindo Feedmill Tbk, together with its subsidiaries, engages in the animal feed, breeding and broiler farm, and food processing businesses in Indonesia. The company provides broiler, layer, duck, and other livestock feed products; and parent stock and day old chicken final stock. It also produces broiler chickens; and offers consumer products, such as chicken nuggets, chicken tempura, chicken sticks, chicken wings, tulip wings, chicken karaage, chicken drumstick, chicken sausage, and combined variant packs under the SunnyGold and Ciki Wiki brands.

Malindo Feedmill Fundamentals Summary

How do Malindo Feedmill's earnings and revenue compare to its market cap?
MAIN fundamental statistics
Market CapRp1.40t
Earnings (TTM)-Rp134.81b
Revenue (TTM)Rp10.06t

0.1x

P/S Ratio

-10.4x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MAIN income statement (TTM)
RevenueRp10.06t
Cost of RevenueRp9.60t
Gross ProfitRp457.27b
Other ExpensesRp592.08b
Earnings-Rp134.81b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-60.22
Gross Margin4.55%
Net Profit Margin-1.34%
Debt/Equity Ratio145.6%

How did MAIN perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

MAIN 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/Revenue0.4x
Enterprise Value/EBITDA15.2x
PEG Ration/a

Price to Sales Ratio vs Peers

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

MAIN PS Ratio vs Peers
The above table shows the PS ratio for MAIN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average0.9x
CSRA Cisadane Sawit Raya
1.4xn/aRp1.3t
BWPT Eagle High Plantations
0.6xn/aRp2.2t
PNGO PINAGO UTAMA
0.5xn/aRp1.0t
HOKI Buyung Poetra Sembada
1.4xn/aRp1.3t
MAIN Malindo Feedmill
0.1x6.4%Rp1.4t

Price-To-Sales vs Peers: MAIN is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.9x).


Price to Earnings Ratio vs Industry

How does MAIN's PE Ratio compare vs other companies in the ID Food Industry?

Price-To-Sales vs Industry: MAIN is good value based on its Price-To-Sales Ratio (0.1x) compared to the ID Food industry average (1x)


Price to Sales Ratio vs Fair Ratio

What is MAIN'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.

MAIN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.1x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: MAIN is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).


Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate MAIN's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MAIN's fair value 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: Target price is lower than the current share price.


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Future Growth

How is Malindo Feedmill forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


80.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MAIN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (7%).

Earnings vs Market: MAIN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MAIN is expected to become profitable in the next 3 years.

Revenue vs Market: MAIN's revenue (6.4% per year) is forecast to grow slower than the ID market (10.2% per year).

High Growth Revenue: MAIN's revenue (6.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MAIN's Return on Equity is forecast to be low in 3 years time (5.4%).


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Past Performance

How has Malindo Feedmill performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-28.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MAIN is currently unprofitable.

Growing Profit Margin: MAIN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MAIN is unprofitable, and losses have increased over the past 5 years at a rate of 28.5% per year.

Accelerating Growth: Unable to compare MAIN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MAIN is unprofitable, making it difficult to compare its past year earnings growth to the Food industry (52.8%).


Return on Equity

High ROE: MAIN has a negative Return on Equity (-6.8%), as it is currently unprofitable.


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Financial Health

How is Malindo Feedmill's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MAIN's short term assets (IDR2,871.6B) exceed its short term liabilities (IDR2,066.5B).

Long Term Liabilities: MAIN's short term assets (IDR2,871.6B) exceed its long term liabilities (IDR1,606.7B).


Debt to Equity History and Analysis

Debt Level: MAIN's net debt to equity ratio (131.8%) is considered high.

Reducing Debt: MAIN's debt to equity ratio has increased from 90.8% to 145.6% over the past 5 years.

Debt Coverage: MAIN's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if MAIN's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Malindo Feedmill current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate MAIN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MAIN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MAIN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MAIN's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: MAIN is not paying a notable dividend for the ID market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MAIN has not reported any payouts.


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Management

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

7.2yrs

Average management tenure


CEO

Tuang Lau (64 yo)

4.17yrs

Tenure

Tan Sri. Tuang Nguang Lau, DMSM, DSM, serves as a Non-Independent Executive Director and Group Chief Executive Officer of PT Malindo Feedmill TBK. He has been an Executive Director of Leong Hup Holdings Be...


Leadership Team

Experienced Management: MAIN's management team is seasoned and experienced (7.2 years average tenure).


Board Members

Experienced Board: MAIN's board of directors are considered experienced (7.7 years average tenure).


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PT Malindo Feedmill Tbk's employee growth, exchange listings and data sources


Key Information

  • Name: PT Malindo Feedmill Tbk
  • Ticker: MAIN
  • Exchange: IDX
  • Founded: 1997
  • Industry: Agricultural Products
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: Rp1.399t
  • Shares outstanding: 2.24b
  • Website: https://www.malindofeedmill.com

Number of Employees


Location

  • PT Malindo Feedmill Tbk
  • Komplek Golden Plaza
  • Blok G No. 17-22
  • Jakarta Selatan
  • Jakarta Raya
  • 12420
  • Indonesia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/15 00:00
End of Day Share Price2022/08/15 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.