Cemindo Gemilang (IDX:CMNT) - Share price, News & Analysis

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

CMNT (IDR1010) is trading above our estimate of [[fair value]] (IDR16.04)

CMNT fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	2/6
Financial Health	0/6
Dividends	0/6

CMNT Stock Overview

PT Cemindo Gemilang Tbk, together with its subsidiaries, engages in manufacture and sale of cement and ready-mix concrete in Indonesia and Vietnam.

Risk Analysis

Interest payments are not well covered by earnings

Profit margins (3%) are lower than last year (16.4%)

Cemindo Gemilang Competitors

Solusi Bangun Indonesia

IDX:SMCB

Rp14.1t

Indocement Tunggal Prakarsa

IDX:INTP

Rp33.1t

Berkah Beton Sadaya

IDX:BEBS

Rp31.1t

Semen Indonesia (Persero)

IDX:SMGR

Rp40.8t

Price History & Performance

Summary of all time highs, changes and price drops for Cemindo Gemilang
Historical stock prices
Current Share Price	Rp1,010.00
52 Week High	Rp1,200.00
52 Week Low	Rp700.00
Beta	0
1 Month Change	12.22%
3 Month Change	-13.31%
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	18.82%

Shareholder Returns

	CMNT	ID Basic Materials	ID Market
7D	11.0%	-8.6%	-3.2%
1Y	n/a	5.3%	9.7%

Return vs Industry: Insufficient data to determine how CMNT performed against the ID Basic Materials industry.

Return vs Market: Insufficient data to determine how CMNT performed against the ID Market.

Price Volatility

Is CMNT's price volatile compared to industry and market?
CMNT volatility
CMNT Average Weekly Movement	5.7%
Basic Materials Industry Average Movement	5.0%
Market Average Movement	6.2%
10% most volatile stocks in ID Market	12.0%
10% least volatile stocks in ID Market	3.1%

Stable Share Price: CMNT is not significantly more volatile than the rest of ID stocks over the past 3 months, typically moving +/- 6% a week.

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

About the Company

Founded	Employees	CEO	Website
2011	3,287	Tony Liu I	https://www.semenmerahputih.com

PT Cemindo Gemilang Tbk, together with its subsidiaries, engages in manufacture and sale of cement and ready-mix concrete in Indonesia and Vietnam. The company also engages in aggregates quarrying, trucking transportation, and wastewater management and drainage businesses. In addition, it exports cement and clinker products.

Cemindo Gemilang Fundamentals Summary

How do Cemindo Gemilang's earnings and revenue compare to its market cap?
CMNT fundamental statistics
Market Cap	Rp17.30t
Earnings (TTM)	Rp252.13b
Revenue (TTM)	Rp8.45t

68.6x

P/E Ratio

2.0x

P/S Ratio

Is CMNT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
CMNT income statement (TTM)
Revenue	Rp8.45t
Cost of Revenue	Rp6.45t
Gross Profit	Rp2.00t
Other Expenses	Rp1.75t
Earnings	Rp252.13b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	14.72
Gross Margin	23.70%
Net Profit Margin	2.98%
Debt/Equity Ratio	240.4%

How did CMNT perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for CMNT. This is calculated by dividing CMNT's market cap by their current preferred multiple.
What is CMNT's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	Rp17.30t

CMNT 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	3.2x
Enterprise Value/EBITDA	11.8x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

CMNT PE Ratio vs Peers

The above table shows the PE ratio for CMNT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	73.7x
SMCB Solusi Bangun Indonesia	19x	n/a	Rp14.1t
INTP Indocement Tunggal Prakarsa	20.5x	25.2%	Rp33.1t
BEBS Berkah Beton Sadaya	235.5x	n/a	Rp31.1t
SMGR Semen Indonesia (Persero)	19.7x	22.4%	Rp40.8t
CMNT Cemindo Gemilang	68.6x	n/a	Rp17.3t

Forward PE

Price-To-Earnings vs Peers: CMNT is good value based on its Price-To-Earnings Ratio (68.6x) compared to the peer average (73.7x).

Price to Earnings Ratio vs Industry

How does CMNT's PE Ratio compare vs other companies in the Asian Basic Materials Industry?

Price-To-Earnings vs Industry: CMNT is expensive based on its Price-To-Earnings Ratio (68.6x) compared to the ID Basic Materials industry average (21.4x)

Price to Earnings Ratio vs Fair Ratio

What is CMNT'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.

CMNT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	68.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CMNT's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

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

Below Fair Value: CMNT (IDR1010) is trading above our estimate of fair value (IDR16.04)

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

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CMNT's PEG Ratio to determine if it is good value.

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Future Growth

How is Cemindo Gemilang forecast to perform in the next 1 to 3 years based on estimates from 0 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

14.8%

Forecasted Materials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cemindo Gemilang has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Take a look at our analysis of CMNT’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Past Performance

How has Cemindo Gemilang performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

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

63.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CMNT has high quality earnings.

Growing Profit Margin: CMNT's current net profit margins (3%) are lower than last year (16.4%).

Past Earnings Growth Analysis

Earnings Trend: CMNT's earnings have grown significantly by 63.8% per year over the past 5 years.

Accelerating Growth: CMNT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CMNT had negative earnings growth (-80.2%) over the past year, making it difficult to compare to the Basic Materials industry average (-26%).

Return on Equity

High ROE: CMNT's Return on Equity (5.3%) is considered low.

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Financial Health

How is Cemindo Gemilang's financial position?

Financial Health Score

0/6

Financial Health Score 0/6

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

Financial Position Analysis

Short Term Liabilities: CMNT's short term assets (IDR4,160.5B) do not cover its short term liabilities (IDR8,226.9B).

Long Term Liabilities: CMNT's short term assets (IDR4,160.5B) do not cover its long term liabilities (IDR6,864.5B).

Debt to Equity History and Analysis

Debt Level: CMNT's net debt to equity ratio (220.9%) is considered high.

Reducing Debt: Insufficient data to determine if CMNT's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: CMNT's debt is not well covered by operating cash flow (9.7%).

Interest Coverage: CMNT's interest payments on its debt are not well covered by EBIT (1.9x coverage).

Balance Sheet

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Dividend

What is Cemindo Gemilang 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
Future Dividend Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate CMNT'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 CMNT's dividends per share have been stable in the past.

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

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

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

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Management

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

3.5yrs

Average management tenure

CEO

Tony Liu I (66 yo)

7.83yrs

Tenure

Mr. Liu Chang I, also known as Tony Liu, is President Director of PT Cemindo Gemilang Tbk since September 2014. He is Chairman of Chinfon Vietnam. He was General Director of Chinfon Vietnam (2000-2021); Ch...

Leadership Team

Experienced Management: CMNT's management team is considered experienced (3.5 years average tenure).

Board Members

Experienced Board: CMNT's board of directors are not considered experienced ( 1.2 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: CMNT only recently listed within the past 12 months.

Data	Last Updated (UTC time)
Company Analysis	2022/07/02 00:00
End of Day Share Price	2022/07/01 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31