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Quantitative Equity Report | Release Date: 17 September 2015 | Reporting Currency: IDR | Trading Currency: IDR

Waskita Karya (Persero) Tbk Class B WSKT


Last Close

Quantitative Fair Value Estimate

Market Cap (Bil)

Sector

Industry

1,620.00

1,467.09

15,763.2

p Industrials

Engineering & Construction

Waskita Karya (Persero) Tbk is engaged in the construction


business in Indonesia. The Company is focused on the projects
that are based on specialization such as Civil, Building, EPC as
well as region.

Country of Domicile
IDN Indonesia

Price Versus Quantitative Fair Value


2011

2012

2013

2014

2015

2016

1,768

Sales/Share
Forecast Range
Forcasted Price
Dividend
Split

1,326

Momentum:

Standard Deviation:

Quantitative Fair Value Estimate


2,210

Total Return
Quantitative Scores

Scores
All Rel Sector Rel Country

Quantitative Moat
None
Valuation
Overvalued
Quantitative Uncertainty High
Financial Health
Strong

14
8
95
79

12
9
95
76

21
4
98
87

884

781.65

52-Wk

1,900.00

442
WSKT
IDN

Undervalued

Fairly Valued

Overvalued

Valuation

Sector
Median

Country
Median

0.89
17.1
13.9
9.8
16.6
2.32
1.6
0.8

0.84
12.3
12.8
6.4
9.7
2.45
1.1
1.1

Current 5-Yr Avg

Sector
Median

Country
Median

11.1
4.6
0.0

13.3
5.1
0.9

Current 5-Yr Avg

Price/Quant Fair Value


Price/Earnings
Forward P/E
Price/Cash Flow
Price/Free Cash Flow
Dividend Yield %
Price/Book
Price/Sales

1.08
25.5

0.63
2.2
1.4

Profitability

Return on Equity %
Return on Assets %
Revenue/Employee (Bil)

13.0
4.4
8.6

23.8
4.0
8.0

Score
100

Quantitative Moat

80
60
40
20
0
2008

2009

2010

2011

2012

2013

2014

Financial Health
Current 5-Yr Avg

Distance to Default
Solvency Score
Assets/Equity
Long-Term Debt/Equity

2015

Sector
Median

Country
Median

0.6
492.5
1.8
0.2

0.5
561.3
2.1
0.3

0.7

4.4
0.4

5.9
0.4

1-Year

3-Year

5-Year

10-Year

6.2
23.6
35.9
443.3
18.2
88.5

12.2
31.6
-82.4

-77.4

18.0
19.7
-82.1

Growth Per Share


Revenue %
Operating Income %
Earnings %
Dividends %
Book Value %
Stock Total Return %

-9.5
-29.9

265.8
269.1

13.5
14.9

0.0
0.0

0.52
20.8
0.6

0.78
37.5
1.4

0.63
25.5
1.4

Total Return %
+/ Market (Morningstar World
Index)
Dividend Yield %
Price/Earnings
Price/Revenue
Undervalued
Fairly Valued
Overvalued

Monthly Volume (Thousand Shares)


Liquidity: High

172,205

Financials (Fiscal Year in Bil)


Revenue
% Change

2010

2011

2012

2013

2014

TTM

5,853
30.3

7,274
24.3

8,808
21.1

9,687
10.0

10,287
6.2

11,090
7.8

383
24.7
124

486
26.8
172

460
-5.3
254

611
32.9
368

756
23.6
502

860
13.8
612

Operating Income
% Change
Net Income

-23
-171
-2.9

-63
-169
-2.3

-82
-268
-3.0

-229
-614
-6.3

-329
-418
-4.1

-462
-975
-8.8

Operating Cash Flow


Capital Spending
Free Cash Flow
% Sales

6,734.90
-97.6

9,335.85
38.6

37.13
-99.6
-37,296.00

37.32
0.5
-68.04

50.71
35.9
-6.50

62.29
22.8
-99.24

EPS
% Change
Free Cash Flow/Share

25

9,858

65.98
9,858

2.06
213.41
9,956

11.20
242.71
9,914

10.08
714.56
9,914

Dividends/Share
Book Value/Share
Shares Outstanding (Mil)

31.6
3.5
2.1
1.64
9.1

32.1
3.7
2.4
1.58
8.3

19.3
3.8
2.9
1.31
4.2

16.8
4.3
3.8
1.13
3.7

19.2
4.7
4.9
0.96
4.4

13.0
4.4
5.5
0.80
2.6

Profitability
Return on Equity %
Return on Assets %
Net Margin %
Asset Turnover
Financial Leverage

9.9
6.6

9.1
6.7

8.3
5.2
747

9.4
6.3
748

10.8
7.4
1,246

11.5
7.8
1,171

Gross Margin %
Operating Margin %
Long-Term Debt

450
39.5

620
42.2

2,007
40.7

2,382
29.6

2,843
19.8

7,084
16.8

Total Equity
Fixed Asset Turns

Quarterly Revenue & EPS


Revenue (Bil)
Mar
Jun
Sep
2015
1,402.8 2,581.5

2014
1,034.6 2,146.7 2,099.3
2013
957.4 2,051.4 2,139.7
2012
806.1 1,921.7 1,974.1
Earnings Per Share
2015
1.20
16.72

2014
0.68
5.46
6.91
2013
0.55
5.19
6.24
2012
44.94 1,960.50 3,571.39

Revenue Growth Year On Year %


Dec
Total

5,006.2 10,286.8
4,538.2 9,686.6
4,106.5 8,808.4

37.54
25.34
5.56

50.71
37.32
37.13

35.6

20.3
6.7

8.4

10.5

8.1

10.3
4.6
-1.9

2013

2014

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2015