Sawit Sumbermas Sarana Tbk

IDX:SSMS

印尼 / 必需消費品 / 食物產品

綜觀

股息

5 年 DCF 增長退出價

股價

1,695.00 IDR

公允價值

2,089.86 IDR

Metrics	Range	Conclusion
Discount Rate	8.8% - 7.8%	8.3%
Perpetuity Growth Rate	0.0% - 0.8%	0.3%
Fair Value	Rp1,877 - Rp2,429	Rp2,090
Upside	19.5% - 54.7%	33.1%

4.3%

Revenue 5y CAGR

27.0%

5y Avg EBITDA Margin

8.8%

Unlevered FCF 5y CAGR

5-Year DCF Model: Gordon Growth Exit

股價

1,695.00 IDR

公允價值

2,089.86 IDR

看漲

33.1%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(IDR in millions)		Input Projections
Fiscal Years Ending	Dec-24	Dec-25	Dec-26	Dec-27	Dec-28	Dec-29

Revenue	10,521,651	11,899,800	12,043,350	12,309,500	12,705,000	12,959,100
% Growth	-1.7%	13.1%	1.2%	2.2%	3.2%	2.0%

EBITDA	2,229,852	3,064,500	3,093,000	3,470,500	3,531,000	3,601,620
% of Revenue	21.2%	25.8%	25.7%	28.2%	27.8%	27.8%

支援算式

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
(IDR in millions)		Dec-25	Dec-26	Dec-27	Dec-28	Dec-29	Terminal

EBITDA		3,064,500	3,093,000	3,470,500	3,531,000	3,601,620	3,601,620
Other Income / (Exp)		0	0	0	0	0	0
D&A		(484,000)	(527,000)	(570,000)	(560,000)	(872,620)	(660,725)

EBIT		2,580,500	2,566,000	2,900,500	2,971,000	2,729,000	2,940,895
Pro forma Taxes		(696,735)	(692,820)	(783,135)	(802,170)	(736,830)	(794,042)
NOPAT	1,333,605	1,883,765	1,873,180	2,117,365	2,168,830	1,992,170	2,146,853

Capital Expenditures	(398,722)	(691,000)	(694,000)	(721,500)	(772,500)	(695,500)	(695,500)
NWC Investment	42,811	(324,599)	(33,811)	(62,687)	(93,153)	(59,849)	(7,631)
(+) D&A	402,996	484,000	527,000	570,000	560,000	872,620	660,725

Free Cash Flow	1,380,690	1,352,166	1,672,369	1,903,178	1,863,177	2,109,441	2,104,448
% Growth		-2%	24%	14%	-2%	13%	0%

載入錯誤

Sawit Sumbermas Sarana Tbk

IDX:SSMS

印尼 / 必需消費品 / 食物產品

5 年 DCF 增長退出價