IDX:EXCL

Stock Analysis Report

Executive Summary

PT XL Axiata Tbk provides telecommunication, telecommunications network, and multimedia services for consumers and businesses in Indonesia.


Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Share Price & News

How has XL Axiata's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EXCL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.9%

EXCL

7.5%

ID Wireless Telecom

8.4%

ID Market


1 Year Return

-33.3%

EXCL

-7.9%

ID Wireless Telecom

-30.6%

ID Market

Return vs Industry: EXCL underperformed the ID Wireless Telecom industry which returned -8.4% over the past year.

Return vs Market: EXCL underperformed the ID Market which returned -31.6% over the past year.


Shareholder returns

EXCLIndustryMarket
7 Day12.9%7.5%8.4%
30 Day-26.8%-7.2%-18.2%
90 Day-44.6%-7.2%-29.0%
1 Year-33.3%-33.3%-4.9%-7.9%-28.4%-30.6%
3 Year-41.2%-41.2%-3.7%-14.9%-15.7%-21.8%
5 Year-57.3%-57.8%-9.0%-17.8%-8.0%-18.1%

Price Volatility Vs. Market

How volatile is XL Axiata's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EXCL (IDR1800) is trading below our estimate of fair value (IDR5322.69)

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


Price To Earnings Ratio

PE vs Industry: EXCL is poor value based on its PE Ratio (27x) compared to the Wireless Telecom industry average (14.6x).

PE vs Market: EXCL is poor value based on its PE Ratio (27x) compared to the ID market (10.9x).


Price to Earnings Growth Ratio

PEG Ratio: EXCL is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: EXCL is good value based on its PB Ratio (1x) compared to the XA Wireless Telecom industry average (1.5x).


Next Steps

Future Growth

How is XL Axiata forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

26.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EXCL's forecast earnings growth (26.6% per year) is above the savings rate (7.1%).

Earnings vs Market: EXCL's earnings (26.6% per year) are forecast to grow faster than the ID market (11.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: EXCL's revenue (5.6% per year) is forecast to grow slower than the ID market (9.3% per year).

High Growth Revenue: EXCL's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EXCL's Return on Equity is forecast to be low in 3 years time (9.6%).


Next Steps

Past Performance

How has XL Axiata performed over the past 5 years?

-26.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EXCL has a large one-off gain of IDR422.9B impacting its December 31 2019 financial results.

Growing Profit Margin: EXCL became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: EXCL has become profitable over the past 5 years, growing earnings by -26.1% per year.

Accelerating Growth: EXCL has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: EXCL has become profitable in the last year, making it difficult to compare its past year earnings growth to the Wireless Telecom industry (4.3%).


Return on Equity

High ROE: EXCL's Return on Equity (3.7%) is considered low.


Next Steps

Financial Health

How is XL Axiata's financial position?


Financial Position Analysis

Short Term Liabilities: EXCL's short term assets (IDR7,145.6B) do not cover its short term liabilities (IDR21,292.7B).

Long Term Liabilities: EXCL's short term assets (IDR7,145.6B) do not cover its long term liabilities (IDR22,310.6B).


Debt to Equity History and Analysis

Debt Level: EXCL's debt to equity ratio (67%) is considered high.

Reducing Debt: EXCL's debt to equity ratio has reduced from 211.1% to 67% over the past 5 years.


Balance Sheet

Inventory Level: EXCL has a high level of physical assets or inventory.

Debt Coverage by Assets: EXCL's debt is not covered by short term assets (assets are 0.6x debt).


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: EXCL is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: EXCL is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

What is XL Axiata's current dividend yield, its reliability and sustainability?

3.18%

Forecast Dividend Yield


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: EXCL is not paying a notable dividend for the ID market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of EXCL's dividend in 3 years as they are not forecast to pay a notable one for the ID market.


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

Dian Siswarini (50yo)

4.92s

Tenure

Ms. Dian Siswarini has been President Director and Chief Executive Officer of PT XL Axiata Tbk (also know as ExcelCom) since April 1, 2015 and served as is Vice President Director. Ms. Siswarini served as ...


Leadership Team

NamePositionTenureCompensationOwnership
Dian Siswarini
President Director & CEO4.92yrsno data0.036% IDR6.9b
Mohamed bin Ahmad Tajudin
CFO & Director8.5yrsno data0.011% IDR2.2b
Linda Susanty
General Manager of Financial Accounting & Treasuryno datano datano data
Indar Dhaliwal
Investor Relations Executive5yrsno datano data
Dewie Pelitawati
Senior General Manager of Legalno datano datano data
Budi Harjono
Vice President of Network Planning & Developmentno datano datano data
Putri Lintang
Head of Digital Svcs Mgmt5.83yrsno datano data
Johnson Chan
Chief Strategic Partnership Officerno datano datano data
Mohammed Ali
Chief Revenue Management Officer4.58yrsno datano data
Feiruz Bin Abdul Malek
Vice President of Strategic Finance4.83yrsno datano data

5.0yrs

Average Tenure

46yo

Average Age

Experienced Management: EXCL's management team is considered experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Dian Siswarini
President Director & CEO4.92yrsno data0.036% IDR6.9b
Mohamed bin Ahmad Tajudin
CFO & Director8.5yrsno data0.011% IDR2.2b
Peter Chambers
Commissioner11.92yrsno datano data
Muliadi Rahardja
Independent Commissioner2.58yrsno datano data
Jamaludin bin Ibrahim
Commissioner11.67yrsno datano data
Muhammad Basri
President Commissioner3.5yrsno datano data
Yasmin Stamboel Wirjawan
Independent Commissioner8.92yrsno datano data
Allan Bonke
Director2.58yrsno datano data
Yessie Yosetya
Independent Director4yrsno data0.0039% IDR748.4m
Abhijit Navalekar
Director2.58yrsno datano data

4.5yrs

Average Tenure

52yo

Average Age

Experienced Board: EXCL's board of directors are considered experienced (4.5 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 XL Axiata Tbk's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PT XL Axiata Tbk
  • Ticker: EXCL
  • Exchange: IDX
  • Founded: 1989
  • Industry: Wireless Telecommunication Services
  • Sector: Telecom
  • Market Cap: Rp19.238t
  • Shares outstanding: 10.69b
  • Website: https://www.xl.co.id

Number of Employees


Location

  • PT XL Axiata Tbk
  • XL Axiata Tower
  • Jl. HR Rasuna Said X5 Kav. 11 - 12
  • Jakarta Selatan
  • Jakarta Raya
  • 12950
  • Indonesia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EXCLIDX (Indonesia Stock Exchange)YesOrdinary SharesIDIDRSep 2005
E5FDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2005
PTXK.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDMar 2012

Biography

PT XL Axiata Tbk provides telecommunication, telecommunications network, and multimedia services for consumers and businesses in Indonesia. The company offers basic telephony services on cellular mobile network; Internet services provider services; closed fixed network services; Internet telephony services for public interest license; and Internet interconnection services, as well as packet switched local fixed network license services. It also provides CUG-GSM, roaming, PABX integration, voice over Internet protocol, and SMS broadcasting services; corporate data services; leased line, IP/VPN-MPLS, NAP/ISP, metro Ethernet, and collocation services; and machine to machine services, such as automatic meter reading, electronic data capture, enterprise mobile solution, vehicle tracking, mobile surveillance, and personal tracker services. In addition, the company offers mobile advertising through SMS, MMS, and display channels; cloud server and storage services; and digital merchant services. PT XL Axiata Tbk serves small and medium businesses; and enterprises in government, manufacturing, services, transportation, banking, and wholesale industries. The company was formerly known as PT Excelcomindo Pratama Tbk. and changed its name to PT XL Axiata Tbk in 2009. The company was founded in 1989 and is headquartered in Jakarta Selatan, Indonesia. PT XL Axiata Tbk is a subsidiary of Axiata Investments (Indonesia) Sdn. Bhd. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 15:41
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.