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Kalbe Farma

OTCPK:PTKF.F
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PTKF.F
OTCPK
IDR70,078B
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

PT Kalbe Farma Tbk., together with its subsidiaries, develops, manufactures, and trades in pharmaceutical products in Indonesia. The last earnings update was 48 days ago. More info.


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PTKF.F Share Price and Events
7 Day Returns
-15.6%
OTCPK:PTKF.F
-0.5%
US Pharmaceuticals
0.5%
US Market
1 Year Returns
0%
OTCPK:PTKF.F
6%
US Pharmaceuticals
0.8%
US Market
PTKF.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kalbe Farma (PTKF.F) -15.6% - - 0% -7.2% -21.7%
US Pharmaceuticals -0.5% 0% -2.9% 6% 9.1% 14%
US Market 0.5% -0.1% 1% 0.8% 37.5% 37.5%
1 Year Return vs Industry and Market
  • PTKF.F underperformed the Pharmaceuticals industry which returned 6% over the past year.
Price Volatility
PTKF.F
Industry
5yr Volatility vs Market
Related Companies

PTKF.F Value

 Is Kalbe Farma undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kalbe Farma to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kalbe Farma.

OTCPK:PTKF.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:PTKF.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.64 (1 + (1- 25%) (0.72%))
0.761
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:PTKF.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kalbe Farma is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:PTKF.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (IDR, Millions) Source Present Value
Discounted (@ 7.5%)
2019 1,064,996.20 Analyst x6 990,712.57
2020 1,235,403.66 Analyst x7 1,069,074.86
2021 1,297,325.00 Analyst x4 1,044,353.76
2022 2,348,000.00 Analyst x1 1,758,314.49
2023 2,721,000.00 Analyst x1 1,895,512.36
2024 3,023,783.94 Est @ 11.13% 1,959,514.36
2025 3,284,082.46 Est @ 8.61% 1,979,754.61
2026 3,508,873.27 Est @ 6.84% 1,967,725.93
2027 3,705,735.14 Est @ 5.61% 1,933,173.88
2028 3,881,619.74 Est @ 4.75% 1,883,688.76
Present value of next 10 years cash flows IDR16,481,825.58
OTCPK:PTKF.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= IDR3,881,619.74 × (1 + 2.73%) ÷ (7.5% – 2.73%)
IDR83,632,297.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= IDR83,632,297.90 ÷ (1 + 7.5%)10
IDR40,585,433.30
OTCPK:PTKF.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= IDR16,481,825.58 + IDR40,585,433.30
IDR57,067,258.87
Equity Value per Share
(IDR)
= Total value / Shares Outstanding
= IDR57,067,258.87 / 46,875.12
IDR1217.43
OTCPK:PTKF.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:PTKF.F represents 6.0E-5x of IDX:KLBF
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
6.0E-5x
Value per Share
(Listing Adjusted, USD)
= Value per Share (IDR) x Listing Adjustment Factor
= IDR 1,217.43 x 6.0E-5
$0.07
Value per share (USD) From above. $0.07
Current discount Discount to share price of $0.09
= -1 x ($0.09 - $0.07) / $0.07
-22.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Kalbe Farma is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kalbe Farma's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kalbe Farma's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:PTKF.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in IDR IDR52.54
IDX:KLBF Share Price ** IDX (2019-06-11) in IDR IDR1495
United States of America Pharmaceuticals Industry PE Ratio Median Figure of 29 Publicly-Listed Pharmaceuticals Companies 17.22x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kalbe Farma.

OTCPK:PTKF.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= IDX:KLBF Share Price ÷ EPS (both in IDR)

= 1495 ÷ 52.54

28.46x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kalbe Farma is overvalued based on earnings compared to the US Pharmaceuticals industry average.
  • Kalbe Farma is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Kalbe Farma's expected growth come at a high price?
Raw Data
OTCPK:PTKF.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
7.1%per year
United States of America Pharmaceuticals Industry PEG Ratio Median Figure of 21 Publicly-Listed Pharmaceuticals Companies 1.55x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

OTCPK:PTKF.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.46x ÷ 7.1%

4.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kalbe Farma is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Kalbe Farma's assets?
Raw Data
OTCPK:PTKF.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in IDR IDR324.67
IDX:KLBF Share Price * IDX (2019-06-11) in IDR IDR1495
United States of America Pharmaceuticals Industry PB Ratio Median Figure of 183 Publicly-Listed Pharmaceuticals Companies 3.26x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
OTCPK:PTKF.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= IDX:KLBF Share Price ÷ Book Value per Share (both in IDR)

= 1495 ÷ 324.67

4.6x

* Primary Listing of Kalbe Farma.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kalbe Farma is overvalued based on assets compared to the US Pharmaceuticals industry average.
X
Value checks
We assess Kalbe Farma's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Kalbe Farma has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PTKF.F Future Performance

 How is Kalbe Farma expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kalbe Farma expected to grow at an attractive rate?
  • Kalbe Farma's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Kalbe Farma's earnings growth is positive but not above the United States of America market average.
  • Kalbe Farma's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:PTKF.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:PTKF.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 7.1%
OTCPK:PTKF.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 7.2%
United States of America Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 14.7%
United States of America Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:PTKF.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in IDR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:PTKF.F Future Estimates Data
Date (Data in IDR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 26,038,950 3,057,060 2,992,710 7
2020-12-31 24,049,935 2,839,108 2,762,501 17
2019-12-31 22,548,244 2,717,608 2,596,246 16
OTCPK:PTKF.F Past Financials Data
Date (Data in IDR Millions) Revenue Cash Flow Net Income *
2019-03-31 21,424,910 2,634,606 2,462,761
2018-12-31 21,074,306 2,770,776 2,457,129
2018-09-30 20,770,524 2,533,889 2,428,630
2018-06-30 20,496,345 2,106,264 2,403,213
2018-03-31 20,298,678 2,108,688 2,404,792
2017-12-31 20,182,120 2,008,317 2,403,606
2017-09-30 20,087,979 1,957,670 2,376,474
2017-06-30 19,884,741 2,082,448 2,369,779
2017-03-31 19,722,837 2,233,931 2,324,750
2016-12-31 19,374,231 2,159,833 2,299,735
2016-09-30 19,135,808 2,402,394 2,207,683
2016-06-30 18,723,481 2,349,076 2,087,332

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kalbe Farma's earnings are expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).
  • Kalbe Farma's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:PTKF.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Kalbe Farma Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:PTKF.F Future Estimates Data
Date (Data in IDR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 63.78 69.41 58.51 6.00
2020-12-31 59.31 65.43 54.60 14.00
2019-12-31 55.38 58.56 53.01 13.00
OTCPK:PTKF.F Past Financials Data
Date (Data in IDR Millions) EPS *
2019-03-31 52.54
2018-12-31 52.42
2018-09-30 51.81
2018-06-30 51.27
2018-03-31 51.30
2017-12-31 51.28
2017-09-30 50.70
2017-06-30 50.56
2017-03-31 49.59
2016-12-31 49.06
2016-09-30 47.10
2016-06-30 44.53

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Kalbe Farma is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kalbe Farma's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kalbe Farma has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PTKF.F Past Performance

  How has Kalbe Farma performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kalbe Farma's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kalbe Farma's year on year earnings growth rate has been positive over the past 5 years.
  • Kalbe Farma's 1-year earnings growth is less than its 5-year average (2.4% vs 4.9%)
  • Kalbe Farma's earnings growth has not exceeded the US Pharmaceuticals industry average in the past year (2.4% vs 40.4%).
Earnings and Revenue History
Kalbe Farma's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kalbe Farma Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:PTKF.F Past Revenue, Cash Flow and Net Income Data
Date (Data in IDR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 21,424,909.62 2,462,761.17 6,190,994.88 245,288.11
2018-12-31 21,074,306.19 2,457,129.03 6,142,684.26 237,873.32
2018-09-30 20,770,523.66 2,428,629.82 6,302,774.13 243,734.30
2018-06-30 20,496,344.72 2,403,213.43 6,269,438.95 249,482.02
2018-03-31 20,298,677.80 2,404,792.25 6,240,600.84 238,989.37
2017-12-31 20,182,120.17 2,403,605.93 6,211,514.00 235,818.44
2017-09-30 20,087,978.75 2,376,473.54 6,309,735.90 225,629.30
2017-06-30 19,884,740.98 2,369,779.43 6,270,603.24 208,445.60
2017-03-31 19,722,836.87 2,324,750.33 6,271,926.15 201,002.68
2016-12-31 19,374,230.96 2,299,734.57 6,113,081.38 191,713.23
2016-09-30 19,135,807.61 2,207,682.61 5,992,389.47 184,288.53
2016-06-30 18,723,481.43 2,087,332.10 5,877,673.06 174,407.49
2016-03-31 18,190,513.76 2,038,814.53 5,708,469.23 167,738.77
2015-12-31 17,887,464.22 2,004,236.98 5,664,066.04 163,364.76
2015-09-30 17,737,869.66 2,078,487.37 5,684,861.30 158,315.31
2015-06-30 17,708,558.03 2,136,224.61 5,643,279.50 155,101.74
2015-03-31 17,548,722.70 2,101,576.84 5,531,142.37 147,835.22
2014-12-31 17,368,532.55 2,066,021.56 5,423,677.21 143,023.68
2014-09-30 17,320,906.27 2,040,142.27 5,264,832.62 139,463.91
2014-06-30 16,960,754.74 1,990,436.92 5,144,637.83 139,559.24
2014-03-31 16,578,629.37 1,968,548.57 5,058,363.88 143,530.94
2013-12-31 16,002,131.06 1,919,508.37 4,880,697.43 135,388.36
2013-09-30 15,382,084.71 1,857,427.17 4,663,126.75 124,855.19
2013-06-30 14,813,586.50 1,848,613.57 4,478,757.22 106,559.07
2013-03-31 14,121,816.28 1,774,687.69 4,271,999.31 93,677.86
2012-12-31 13,636,405.18 1,733,928.11 4,124,103.61 90,754.83
2012-09-30 12,914,303.04 1,659,840.14 3,960,568.87 97,138.00
2012-06-30 12,207,090.76 1,614,332.56 3,721,030.26 98,656.32

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Kalbe Farma has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kalbe Farma used its assets more efficiently than the US Pharmaceuticals industry average last year based on Return on Assets.
  • Kalbe Farma's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kalbe Farma's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kalbe Farma has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PTKF.F Health

 How is Kalbe Farma's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kalbe Farma's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kalbe Farma is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kalbe Farma's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kalbe Farma's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 22.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kalbe Farma Company Filings, last reported 2 months ago.

OTCPK:PTKF.F Past Debt and Equity Data
Date (Data in IDR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 15,857,587.47 504,984.68 3,385,136.20
2018-12-31 15,294,594.80 357,407.69 3,332,046.77
2018-09-30 14,577,990.08 260,252.30 2,704,098.39
2018-06-30 13,971,570.30 349,498.26 3,305,215.58
2018-03-31 14,508,031.63 337,459.47 3,233,505.05
2017-12-31 13,894,031.78 318,991.90 2,971,201.07
2017-09-30 13,263,462.47 488,699.64 2,916,168.97
2017-06-30 12,675,528.27 331,254.50 3,488,974.95
2017-03-31 13,079,317.42 317,601.53 3,302,024.69
2016-12-31 12,463,847.14 283,109.59 3,074,908.12
2016-09-30 11,813,485.21 303,658.26 2,735,134.05
2016-06-30 11,234,030.74 364,950.42 2,349,423.77
2016-03-31 11,520,252.58 422,500.63 2,973,625.61
2015-12-31 10,938,285.99 398,910.29 2,874,372.74
2015-09-30 10,488,558.87 411,350.86 2,278,063.58
2015-06-30 10,011,588.46 430,996.84 1,794,410.22
2015-03-31 10,370,940.25 246,174.92 2,381,029.28
2014-12-31 9,764,101.02 296,128.81 2,093,999.20
2014-09-30 9,222,108.55 528,068.08 1,803,628.73
2014-06-30 8,723,035.47 599,336.08 2,107,886.83
2014-03-31 8,992,859.12 562,663.53 1,717,784.58
2013-12-31 8,499,957.97 583,915.30 1,614,203.90
2013-09-30 7,920,735.79 402,153.18 1,366,859.73
2013-06-30 7,447,105.63 414,744.43 2,149,800.64
2013-03-31 7,845,771.47 214,016.99 2,123,865.11
2012-12-31 7,371,643.61 204,624.55 2,088,781.02
2012-09-30 6,870,305.07 115,870.38 1,601,124.50
2012-06-30 6,431,058.98 64,533.66 2,329,638.53
  • Kalbe Farma's level of debt (3.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (6.3% vs 3.2% today).
  • Debt is well covered by operating cash flow (521.7%, greater than 20% of total debt).
  • Kalbe Farma earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Kalbe Farma's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kalbe Farma has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PTKF.F Dividends

 What is Kalbe Farma's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.67%
Current annual income from Kalbe Farma dividends. Estimated to be 1.81% next year.
If you bought $2,000 of Kalbe Farma shares you are expected to receive $33 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Kalbe Farma's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Kalbe Farma's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:PTKF.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
United States of America Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:PTKF.F Future Dividends Estimate Data
Date (Data in IDR) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 30.48 8.00
2020-12-31 27.21 16.00
2019-12-31 24.77 14.00
OTCPK:PTKF.F Past Annualized Dividends Data
Date (Data in IDR) Dividend per share (annual) Avg. Yield (%)
2018-07-30 25.000 1.745
2018-03-29 25.000 1.813
2017-07-31 22.000 1.330
2017-03-31 22.000 1.386
2016-07-29 19.000 1.196
2016-03-31 19.000 1.323
2015-07-31 19.000 1.360
2015-03-30 19.000 1.082
2014-10-31 17.000 0.950
2014-07-25 17.000 1.020
2014-03-11 17.000 1.074
2013-10-28 19.000 1.433
2013-07-25 19.000 1.419
2013-03-28 19.000 1.394
2012-10-31 19.000 1.745
2012-07-31 19.000 2.195
2012-03-30 19.000 2.502
2011-10-28 14.000 2.016
2011-08-08 14.000 2.082
2011-07-15 14.000 2.041
2011-03-01 14.000 2.079
2010-10-26 5.000 0.819
2010-07-26 5.000 1.010
2010-03-01 5.000 1.286
2010-01-04 5.000 1.702
2009-10-30 2.500 0.973
2009-07-31 2.500 0.978

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Kalbe Farma's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Kalbe Farma's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kalbe Farma afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kalbe Farma has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PTKF.F Management

 What is the CEO of Kalbe Farma's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
- Vidjongtius
AGE 54
TENURE AS CEO 2 years
CEO Bio

Mr. Vidjongtius has been President Director of PT Kalbe Farma Tbk. since June 5, 2017. He served as Corporate Secretary of PT. Kalbe Farma Tbk. since March 28, 2008 until June 14, 2017. Mr. Vidjongtius served as President Director and Member of the Board of Directors at Enseval Putera Megatrading tbk PT. His career started at Drs. Joseph Susilo and Partners Accountant Office. He has been a Director of PT. Kalbe Farma Tbk. since 1997. He joined Kalbe in 1990 in Financial and Accounting Department. Mr. Vidjongtius obtained Economy Degree from Universitas Trisakti, Jakarta.

CEO Compensation
  • Insufficient data for - to compare compensation growth.
  • Insufficient data for - to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Kalbe Farma management team in years:

5.7
Average Tenure
54
Average Age
  • The average tenure for the Kalbe Farma management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

- Vidjongtius

TITLE
President Director
AGE
54
TENURE
2 yrs

Lanny Soputro

TITLE
Director of Corporate Human Resource
AGE
54
TENURE
12.4 yrs

Kurniawan Suhartono

TITLE
Head of Internal Audit Unit
AGE
53
TENURE
5.7 yrs

Bernadus Winata

TITLE
Independent Director & Corporate Secretary
AGE
54
TENURE
2 yrs

Sie Djohan

TITLE
Director of Corporate Business Development
AGE
51
TENURE
12.4 yrs
Board of Directors Tenure

Average tenure and age of the Kalbe Farma board of directors in years:

4.6
Average Tenure
54
Average Age
  • The tenure for the Kalbe Farma board of directors is about average.
Board of Directors

- Vidjongtius

TITLE
President Director
AGE
54
TENURE
2 yrs

Bernadus Winata

TITLE
Independent Director & Corporate Secretary
AGE
54
TENURE
2 yrs

Sie Djohan

TITLE
Director of Corporate Business Development
AGE
51
TENURE
2 yrs

Bernadette Ruth Setiady

TITLE
President Commissioner
AGE
56
TENURE
2 yrs

Lucky Slamet

TITLE
Independent Commissioner
AGE
65
TENURE
5.1 yrs

Ongkie Tedjasurja

TITLE
Director
AGE
59
TENURE
8.4 yrs

Bujung Nugroho

TITLE
Director
AGE
54
TENURE
5.1 yrs

Djonny Tjahyadi

TITLE
Director
AGE
54
TENURE
4.1 yrs

Santoso Oen

TITLE
Commissioner
AGE
54
TENURE
11.4 yrs

Ferdinand Aryanto

TITLE
Commissioner
AGE
46
TENURE
11.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Kalbe Farma's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kalbe Farma has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PTKF.F News

Simply Wall St News

Why You Should Buy PT Kalbe Farma Tbk. (OTCPK:PTKF.F) In This Bear Market

We all know Kalbe Farma, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … View our latest analysis for Kalbe Farma. … PT Kalbe Farma Tbk., together with its subsidiaries, develops, manufactures, and trades in pharmaceutical products in Indonesia

Simply Wall St -

PTKF.F Company Info

Description

PT Kalbe Farma Tbk., together with its subsidiaries, develops, manufactures, and trades in pharmaceutical products in Indonesia. It operates in four segments: Prescription Pharmaceutical, Consumer Health, Nutritionals, and Distribution and Logistic. The company offers generic, branded, and licensed drugs, including Brainact, Cefspan, Mycoral, Cernevit, Cravit, Neuralgin, Broadced, Neurotam, Hemapo, and CPG that are distributed to hospitals, pharmacies, and drug stores. It also provides over-the-counter drugs; energy drinks, ready-to-drink products, supplements, and other preventive products; and nutritional products for infants, toddlers, children, pre-teenagers, adults, pregnant and lactating women, and elders, as well as for consumers with special medical needs. In addition, the company operates Mitrasana Clinics, a health care service; contract services, including clinical study management, bioavailability/bioequivalence studies, and contract analysis to pharmaceutical companies; and animal health products. Further, it offers health screening services; operates as an agent and representative for biotechnology products; distributes consumer products, medical equipment, cosmetics, and other trading products; and trades in medical and laboratory equipment and supplies, raw materials for pharmaceutical products, and consumable products for hemodialysis therapy, as well as provides advertising services. The company was founded in 1966 and is headquartered in Jakarta, Indonesia. PT Kalbe Farma Tbk. is a subsidiary of PT Gira Sole Prima.

Details
Name: PT Kalbe Farma Tbk.
PTKF.F
Exchange: OTCPK
Founded: 1966
IDR4,885,889,113
46,875,122,110
Website: http://www.kalbe.co.id
Address: PT Kalbe Farma Tbk.
Gedung KALBE,
Jl. Let. Jend Suprapto Kav 4,
Jakarta,
Jakarta Raya, 10510,
Indonesia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
IDX KLBF Common Shares Indonesia Stock Exchange ID IDR 02. Jan 1992
OTCPK PTKF.F Common Shares Pink Sheets LLC US USD 02. Jan 1992
OTCPK PTKF.Y UNSPONSORED ADR Pink Sheets LLC US USD 02. Mar 2010
Number of employees
Current staff
Staff numbers
12,520
Kalbe Farma employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 00:15
End of day share price update: 2019/06/11 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.