Indofarma (IDX:INAF) - Share price, News & Analysis

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

INAF Stock Overview

PT Indofarma Tbk, together with its subsidiaries, manufactures and markets pharmaceutical products in Indonesia.

Risk Analysis

No risks detected for INAF from our risk checks.

Indofarma Competitors

Kalbe Farma

IDX:KLBF

Rp76.0t

Kimia Farma (Persero)

IDX:KAEF

Rp8.5t

Darya-Varia Laboratoria

IDX:DVLA

Rp2.7t

Phapros

IDX:PEHA

Rp844.2b

Price History & Performance

Summary of all time highs, changes and price drops for Indofarma
Historical stock prices
Current Share Price	Rp1,165.00
52 Week High	Rp3,490.00
52 Week Low	Rp1,100.00
Beta	-0.0094
1 Month Change	-13.70%
3 Month Change	-42.61%
1 Year Change	-47.76%
3 Year Change	-69.34%
5 Year Change	-72.26%
Change since IPO	468.29%

Shareholder Returns

	INAF	ID Pharmaceuticals	ID Market
7D	-5.3%	-0.4%	-1.0%
1Y	-47.8%	1.5%	18.2%

Return vs Industry: INAF underperformed the ID Pharmaceuticals industry which returned 0.5% over the past year.

Return vs Market: INAF underperformed the ID Market which returned 15.6% over the past year.

Price Volatility

Is INAF's price volatile compared to industry and market?
INAF volatility
INAF Average Weekly Movement	4.8%
Pharmaceuticals Industry Average Movement	3.7%
Market Average Movement	6.3%
10% most volatile stocks in ID Market	12.2%
10% least volatile stocks in ID Market	3.0%

Stable Share Price: INAF is not significantly more volatile than the rest of ID stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: INAF's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1918	1,253	Arief Pramuhanto	https://indofarma.id

PT Indofarma Tbk, together with its subsidiaries, manufactures and markets pharmaceutical products in Indonesia. The company trades in and distributes drugs, medical devices, medical supplies, extracts, and herbals; and operates laboratory. It also provides COVID-19 test services, including rapid diagnostic test antigen; reverse transcription polymerase chain reaction, and genose.

Indofarma Fundamentals Summary

How do Indofarma's earnings and revenue compare to its market cap?
INAF fundamental statistics
Market Cap	Rp3.61t
Earnings (TTM)	-Rp37.58b
Revenue (TTM)	Rp2.90t

1.2x

P/S Ratio

-96.1x

P/E Ratio

Is INAF overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
INAF income statement (TTM)
Revenue	Rp2.90t
Cost of Revenue	Rp2.46t
Gross Profit	Rp442.87b
Other Expenses	Rp480.46b
Earnings	-Rp37.58b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	-12.13
Gross Margin	15.26%
Net Profit Margin	-1.29%
Debt/Equity Ratio	117.6%

How did INAF perform over the long term?

See historical performance and comparison

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

7.1x

Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: INAF (IDR1165) is trading above our estimate of fair value (IDR1019.77)

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

Price To Earnings Ratio

PE vs Industry: INAF is unprofitable, so we can't compare its PE Ratio to the ID Pharmaceuticals industry average.

PE vs Market: INAF is unprofitable, so we can't compare its PE Ratio to the ID market.

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: INAF is overvalued based on its PB Ratio (7.1x) compared to the ID Pharmaceuticals industry average (2.5x).

Future Growth

How is Indofarma 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

15.4%

Forecasted Pharmaceuticals & Biotech 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 Indofarma 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 Indofarma 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

37.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: INAF is currently unprofitable.

Growing Profit Margin: INAF is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: INAF is unprofitable, but has reduced losses over the past 5 years at a rate of 37.9% per year.

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

Earnings vs Industry: INAF is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (12.8%).

Return on Equity

High ROE: INAF has a negative Return on Equity (-7.39%), as it is currently unprofitable.

Financial Health

How is Indofarma's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: INAF's short term assets (IDR1,411.4B) exceed its short term liabilities (IDR1,045.2B).

Long Term Liabilities: INAF's short term assets (IDR1,411.4B) exceed its long term liabilities (IDR458.4B).

Debt to Equity History and Analysis

Debt Level: INAF's net debt to equity ratio (42.7%) is considered high.

Reducing Debt: INAF's debt to equity ratio has increased from 73.3% to 117.6% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable INAF has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: INAF is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 35.4% per year.

Dividend

What is Indofarma 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 INAF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

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

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

Earnings Payout to Shareholders

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

Cash Payout to Shareholders

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

Next Steps

Explore strong dividend paying companies in the Pharmaceuticals & Biotech industry.

Management

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

1.0yrs

Average management tenure

CEO

Arief Pramuhanto (59 yo)

3yrs

Tenure

Rp2,084,000,000

Compensation

Mr. Arief Pramuhanto has been President Director of PT Indofarma (Persero) Tbk since May 7, 2019. Mr. Pramuhanto was General Affairs and Human Capital Director at PT Kimia Farma (Persero) Tbk since April 2...

CEO Compensation Analysis

Compensation vs Market: Arief's total compensation ($USD142.24K) is about average for companies of similar size in the ID market ($USD199.05K).

Compensation vs Earnings: Arief's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: INAF's management team is not considered experienced ( 1 years average tenure), which suggests a new team.

Board Members

Experienced Board: INAF's board of directors are not considered experienced ( 1.4 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 not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/18 00:00
End of Day Share Price	2022/05/18 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31