Solusi Bangun Indonesia (IDX:SMCB) - Share price, News & Analysis

SMCB fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	3/6
Financial Health	5/6
Dividends	3/6

SMCB Stock Overview

PT Solusi Bangun Indonesia Tbk, together with its subsidiaries, produces and distributes cement, ready-mixed concrete, and aggregates in Indonesia and internationally.

Rewards

Trading at 70.7% below our estimate of its fair value

Earnings grew by 10.7% over the past year

Risk Analysis

Unstable dividend track record

Shareholders have been diluted in the past year

Solusi Bangun Indonesia Competitors

Indocement Tunggal Prakarsa

IDX:INTP

Rp35.5t

Cemindo Gemilang

IDX:CMNT

Rp14.5t

Semen Baturaja (Persero)

IDX:SMBR

Rp4.7t

Holcim

SWX:HOLN

CHF28.7b

Price History & Performance

Summary of all time highs, changes and price drops for Solusi Bangun Indonesia
Historical stock prices
Current Share Price	Rp1,565.00
52 Week High	Rp1,970.00
52 Week Low	Rp1,530.00
Beta	1.0
1 Month Change	-7.12%
3 Month Change	-6.57%
1 Year Change	-9.54%
3 Year Change	5.39%
5 Year Change	88.55%
Change since IPO	88.88%

Shareholder Returns

	SMCB	ID Basic Materials	ID Market
7D	-1.6%	-2.8%	2.2%
1Y	-9.5%	6.3%	17.3%

Return vs Industry: SMCB underperformed the ID Basic Materials industry which returned 6.6% over the past year.

Return vs Market: SMCB underperformed the ID Market which returned 18.2% over the past year.

Price Volatility

Is SMCB's price volatile compared to industry and market?
SMCB volatility
SMCB Average Weekly Movement	2.8%
Basic Materials Industry Average Movement	4.8%
Market Average Movement	6.2%
10% most volatile stocks in ID Market	12.0%
10% least volatile stocks in ID Market	2.9%

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

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

About the Company

Founded	Employees	CEO	Website
1971	2,281	Lilik Raharjo	https://solusibangunindonesia.com

PT Solusi Bangun Indonesia Tbk, together with its subsidiaries, produces and distributes cement, ready-mixed concrete, and aggregates in Indonesia and internationally. The company operates through three segments: Cement, Readymix Concrete and Aggregates Quarry, and Other Construction Services. It offers cement and mortar, as well as coarse, fine, and other aggregates.

Solusi Bangun Indonesia Fundamentals Summary

How do Solusi Bangun Indonesia's earnings and revenue compare to its market cap?
SMCB fundamental statistics
Market Cap	Rp14.12t
Earnings (TTM)	Rp720.93b
Revenue (TTM)	Rp11.22t

19.6x

P/E Ratio

1.3x

P/S Ratio

Is SMCB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SMCB income statement (TTM)
Revenue	Rp11.22t
Cost of Revenue	Rp8.37t
Gross Profit	Rp2.85t
Other Expenses	Rp2.13t
Earnings	Rp720.93b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	79.93
Gross Margin	25.38%
Net Profit Margin	6.43%
Debt/Equity Ratio	39.2%

How did SMCB perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

27%

Payout Ratio

Valuation

Is Solusi Bangun Indonesia undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SMCB (IDR1565) is trading below our estimate of fair value (IDR5347.36)

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

Price To Earnings Ratio

PE vs Industry: SMCB is good value based on its PE Ratio (19.6x) compared to the ID Basic Materials industry average (21.4x).

PE vs Market: SMCB is poor value based on its PE Ratio (19.6x) compared to the ID market (18.5x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: SMCB's PB Ratio (1.3x) is in line with the ID Basic Materials industry average.

Future Growth

How is Solusi Bangun Indonesia 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

15.7%

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 Solusi Bangun Indonesia 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.

Past Performance

How has Solusi Bangun Indonesia performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

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

58.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SMCB has high quality earnings.

Growing Profit Margin: SMCB's current net profit margins (6.4%) are lower than last year (6.4%).

Past Earnings Growth Analysis

Earnings Trend: SMCB has become profitable over the past 5 years, growing earnings by 58.2% per year.

Accelerating Growth: SMCB's earnings growth over the past year (10.7%) is below its 5-year average (58.2% per year).

Earnings vs Industry: SMCB earnings growth over the past year (10.7%) exceeded the Basic Materials industry -7.8%.

Return on Equity

High ROE: SMCB's Return on Equity (6.4%) is considered low.

Financial Health

How is Solusi Bangun Indonesia's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

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

Financial Position Analysis

Short Term Liabilities: SMCB's short term assets (IDR5,238.3B) exceed its short term liabilities (IDR3,899.4B).

Long Term Liabilities: SMCB's short term assets (IDR5,238.3B) do not cover its long term liabilities (IDR6,410.1B).

Debt to Equity History and Analysis

Debt Level: SMCB's net debt to equity ratio (36.6%) is considered satisfactory.

Reducing Debt: SMCB's debt to equity ratio has reduced from 102.3% to 39.2% over the past 5 years.

Debt Coverage: SMCB's debt is well covered by operating cash flow (35.1%).

Interest Coverage: SMCB's interest payments on its debt are well covered by EBIT (3.3x coverage).

Balance Sheet

Dividend

What is Solusi Bangun Indonesia current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

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

1.53%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SMCB's dividend (1.53%) is higher than the bottom 25% of dividend payers in the ID market (1.13%).

High Dividend: SMCB's dividend (1.53%) is low compared to the top 25% of dividend payers in the ID market (4.15%).

Stability and Growth of Payments

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

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

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (27.4%), SMCB's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (20.6%), SMCB's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

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

3.2yrs

Average management tenure

CEO

Lilik Raharjo (55 yo)

0.25

Tenure

Mr. Lilik Unggul Raharjo serves as President Director at PT Solusi Bangun Indonesia Tbk since February 2022. He serves as Director of Manufacturing at PT Solusi Bangun Indonesia Tbk (formerly known as PT H...

Leadership Team

Experienced Management: SMCB's management team is considered experienced (3.2 years average tenure).

Board Members

Experienced Board: SMCB's board of directors are not considered experienced ( 0.4 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 17.7%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/23 00:00
End of Day Share Price	2022/05/23 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31