Multi Indocitra Valuation

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

MICE (IDR505) is trading below our estimate of [[fair value]] (IDR1041.44)

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

Valuation Score

4/6

Valuation Score 4/6

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

Share Price vs Fair Value

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

Below Fair Value: MICE (IDR505) is trading below our estimate of fair value (IDR1041.44)

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

Key Valuation Metric

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

Key metric: As MICE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MICE. This is calculated by dividing MICE's market cap by their current earnings.
What is MICE's PE Ratio?
PE Ratio	7.8x
Earnings	Rp38.19b
Market Cap	Rp298.91b

MICE 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	0.5x
Enterprise Value/EBITDA	5.1x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MICE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	25.1x
KONI Perdana Bangun Pusaka	28.2x	n/a	Rp480.5b
BIKE Sepeda Bersama Indonesia	41.5x	n/a	Rp659.8b
MGLV Panca Anugrah Wisesa	6.3x	n/a	Rp133.3b
LIVE Homeco Victoria Makmur	24.6x	n/a	Rp1.0t
MICE Multi Indocitra	7.8x	n/a	Rp298.9b

Price-To-Earnings vs Peers: MICE is good value based on its Price-To-Earnings Ratio (7.8x) compared to the peer average (25.1x).

Price to Earnings Ratio vs Industry

How does MICE's PE Ratio compare vs other companies in the Asian Retail Distributors Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MICE is good value based on its Price-To-Earnings Ratio (7.8x) compared to the Asian Retail Distributors industry average (19.7x).

Price to Earnings Ratio vs Fair Ratio

What is MICE'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.

MICE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.8x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MICE's Price-To-Earnings Fair Ratio 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: Insufficient data to show price forecast.

Discover undervalued companies

Erajaya Swasembada

Rp6.9t

Distributes and retails mobile telecommunication devices in Indonesia and internationally.

ERAA

Rp440.00

3.8%

25.7%

Ramayana Lestari Sentosa

Rp2.2t

Engages in the operation of a chain of department stores in Indonesia.

RALS

Rp370.00

-3.6%

-24.8%

Globe Kita Terang

Rp72.2b

Engages in the retail and distribution of cellular phones and accessories in Indonesia.

GLOB

Rp65.00

-44.0%