Indorama Ventures Future Growth

Future criteria checks 3/6

Indorama Ventures is forecast to grow earnings and revenue by 78.3% and 2.9% per annum respectively. EPS is expected to grow by 79% per annum. Return on equity is forecast to be 8.5% in 3 years.

Key information

78.3%

Earnings growth rate

79.0%

EPS growth rate

Chemicals earnings growth	56.4%
Revenue growth rate	2.9%
Future return on equity	8.5%
Analyst coverage	Good
Last updated	19 Apr 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

SET:IVL - Analysts future estimates and past financials data (THB Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	591,718	15,287	27,605	45,009	7
12/31/2025	573,935	13,220	30,084	44,542	11
12/31/2024	551,686	7,661	27,360	41,813	10
12/31/2023	544,296	-11,548	26,970	53,134	N/A
9/30/2023	559,557	-10,599	28,427	56,106	N/A
6/30/2023	600,038	-2,657	24,575	52,706	N/A
3/31/2023	650,303	17,210	37,108	66,620	N/A
12/31/2022	660,378	30,256	49,510	77,981	N/A
9/30/2022	648,360	47,126	38,990	67,417	N/A
6/30/2022	596,117	45,537	39,303	65,946	N/A
3/31/2022	519,408	33,595	21,625	45,814	N/A
12/31/2021	470,555	25,538	10,589	33,772	N/A
9/30/2021	421,682	21,603	16,869	38,343	N/A
6/30/2021	375,854	15,435	20,592	39,927	N/A
3/31/2021	339,531	7,102	22,505	38,883	N/A
12/31/2020	333,602	1,665	25,315	43,436	N/A
9/30/2020	327,950	-1,310	22,816	39,281	N/A
6/30/2020	331,111	-973	24,174	41,042	N/A
3/31/2020	350,929	1,213	25,151	43,221	N/A
12/31/2019	354,672	4,275	24,051	40,845	N/A
9/30/2019	368,047	8,072	23,576	41,097	N/A
6/30/2019	379,665	17,334	20,508	37,301	N/A
3/31/2019	368,174	23,309	15,824	32,646	N/A
12/31/2018	348,255	25,415	15,438	31,981	N/A
9/30/2018	327,382	33,064	13,529	30,879	N/A
6/30/2018	303,907	26,526	8,803	27,640	N/A
3/31/2018	291,919	21,220	8,829	28,770	N/A
12/31/2017	287,335	19,833	8,851	28,907	N/A
9/30/2017	281,315	12,790	N/A	27,651	N/A
6/30/2017	274,508	12,458	N/A	32,237	N/A
3/31/2017	269,508	15,472	N/A	27,708	N/A
12/31/2016	255,130	15,147	N/A	24,946	N/A
9/30/2016	247,350	12,332	N/A	25,902	N/A
6/30/2016	243,995	9,680	N/A	18,198	N/A
3/31/2016	238,839	9,199	N/A	20,759	N/A
12/31/2015	235,284	5,559	N/A	24,806	N/A
9/30/2015	232,822	4,772	N/A	21,335	N/A
6/30/2015	233,826	5,092	N/A	24,766	N/A
3/31/2015	236,147	1,367	N/A	26,682	N/A
12/31/2014	243,907	1,532	N/A	22,421	N/A
9/30/2014	247,126	1,969	N/A	21,151	N/A
6/30/2014	242,844	2,472	N/A	17,233	N/A
3/31/2014	236,008	1,203	N/A	13,324	N/A
12/31/2013	229,923	1,326	N/A	10,464	N/A
9/30/2013	222,427	1,560	N/A	9,172	N/A
6/30/2013	216,561	1,912	N/A	17,324	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: IVL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: IVL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: IVL is expected to become profitable in the next 3 years.

Revenue vs Market: IVL's revenue (2.9% per year) is forecast to grow slower than the TH market (6.9% per year).

High Growth Revenue: IVL's revenue (2.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: IVL's Return on Equity is forecast to be low in 3 years time (8.5%).

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Indorama Ventures Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Price target decreased by 11% to ฿29.42

Price target decreased by 7.8% to ฿33.30

Price target decreased by 7.6% to ฿37.11

Consensus EPS estimates fall by 20%

Price target decreased by 9.5% to ฿45.01

Price target decreased by 7.4% to ฿50.26

Recent updates

Full year 2023 earnings: EPS and revenues miss analyst expectations

Indorama Ventures Public Company Limited, Annual General Meeting, Apr 25, 2024

Indorama Ventures Public Company Limited Proposes Final Dividend for the Year 2023, Payable on 23 May 2024

Now 22% undervalued

Price target decreased by 11% to ฿29.42

Price target decreased by 7.8% to ฿33.30

Upcoming dividend of ฿0.25 per share at 6.0% yield

Indorama Ventures Public Company Limited Announces Interim Dividend for the Period from July 01, 2023 to September 30, 2023, Payable on December 14, 2023

Third quarter 2023 earnings released: EPS: ฿0.013 (vs ฿1.42 in 3Q 2022)

Indorama Ventures Public Company Limited to Report Q3, 2023 Results on Nov 14, 2023

Price target decreased by 7.6% to ฿37.11

Upcoming dividend of ฿0.25 per share at 5.2% yield

New major risk - Financial position

Second quarter 2023 earnings: EPS misses analyst expectations

Indorama Ventures Public Company Limited to Report Q2, 2023 Results on Aug 11, 2023

Upcoming dividend of ฿0.25 per share at 5.0% yield

Indorama Ventures Public Company Limited Announces Cash Dividend for the Operating Period from January 01, 2023 to March 31, 2023, Payable on June 14, 2023

Consensus EPS estimates fall by 20%

Price target decreased by 9.5% to ฿45.01

First quarter 2023 earnings released: EPS: ฿0.15 (vs ฿2.47 in 1Q 2022)

Upcoming dividend of ฿0.40 per share at 4.9% yield

Price target decreased by 7.4% to ฿50.26

Indorama Ventures Public Company Limited to Report Fiscal Year 2022 Results on Feb 24, 2023

Indorama Ventures Public Company Limited Announces Interim Dividend for the Period from July 1, 2022 to September 30, 2022, Payable on December 15, 2022

Indorama Ventures Public Company Limited Announces Further Clarification on "Dowtherm Leakage in Thermic Fluid Heating System At Indorama Polyester Industries Pcl., Nakornpathom"

Upcoming dividend of ฿0.40 per share

Indorama Ventures Public Company Limited to Report Q3, 2022 Results on Nov 10, 2022

Indorama Ventures Public Company Limited Announces Interim Dividend for the Operating Period from 01 April 2022 to 30 June 2022, Payable on 15 September 2022

Second quarter 2022 earnings released: EPS: ฿3.58 (vs ฿1.45 in 2Q 2021)

Indorama Ventures Public Company Limited to Report Q2, 2022 Results on Aug 10, 2022

Indorama Ventures Ordinary Shares to Be Deleted from OTC Equity

Upcoming dividend of ฿0.40 per share

Indorama Ventures Public Company Limited Announces Cash Dividend, Payable on June 16, 2022

First quarter 2022 earnings: EPS exceeds analyst expectations

Consensus forecasts updated

Upcoming dividend of ฿0.25 per share

Indorama Ventures Public Company Limited to Report Q1, 2022 Results on May 12, 2022

Consensus forecasts updated

Indorama Ventures Public Company Limited Proposes Final Dividend Payment from 2021, Payable on May 20, 2022

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Indorama Ventures Public Company Limited, Annual General Meeting, Apr 26, 2022

Indorama Ventures Public Company Limited (SET:IVL) acquired 85% stake in UCY Polymers CZ s.r.o. from Maximilian Josef Söllner for €6.8 Million.

Indorama Ventures PCL NVDR SHARES to Be Deleted from Other OTC

Upcoming dividend of ฿0.25 per share

Third quarter 2021 earnings released: EPS ฿1.13 (vs ฿0.034 in 3Q 2020)

Upcoming dividend of ฿0.25 per share

Consensus EPS estimates increase to ฿3.34

Indorama in Exclusive Talks to Acquire Oxiteno

Indorama Ventures Public Company Limited (SET:IVL) made a bid to acquire Recycled Polyethylene Terephthalate Assets in Texas from CarbonLite Holdings LLC.

Upcoming dividend of ฿0.25 per share

Consensus forecasts updated

Price target increased to ฿51.75

Indorama Ventures Public Company Limited Declares Dividend Period from Jan. 1, 20221 to March 31, 2021, Payable on June 10, 2021

Indorama Ventures Public Company Limited, Annual General Meeting, Apr 27, 2021

Indorama Ventures Public Company Limited to Report Fiscal Year 2020 Results on Feb 25, 2021

Indorama Ventures Public Company Limited Announces Temporary Halt of Production

New 90-day high: ฿41.25

Price target raised to ฿35.91

New 90-day high: ฿40.00

Indorama Ventures Public Company Limited Provides Post Hurricane Laura Update in Port Neches, USA

New 90-day low: ฿22.40

New 90-day low - ฿23.30

Upcoming Dividend of ฿0.17 Per Share

First half earnings released

Indorama Ventures Public Company Limited (SET:IVL) entered into a definitive agreement to acquire Industrie Maurizio Peruzzo Polowat spolka z ograniczona odpowiedzialnoscia in Poland.

New 90-day low - ฿24.50

Indorama Ventures Public Company Limited Approves No Additional Dividend for 2019

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts