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XL Axiata

DB:E5F
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
E5F
DB
IDR37,194B
Market Cap
  1. Home
  2. DE
  3. Telecom
Company description

PT XL Axiata Tbk provides telecommunication, telecommunications network, and multimedia services for consumers and businesses in Indonesia. The last earnings update was 17 days ago. More info.


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E5F Share Price and Events
7 Day Returns
2.9%
DB:E5F
-3%
Europe Wireless Telecom
0%
DE Market
1 Year Returns
92.9%
DB:E5F
1.1%
Europe Wireless Telecom
9.9%
DE Market
E5F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
XL Axiata (E5F) 2.9% 0% 10.3% 92.9% 56.5% -36.1%
Europe Wireless Telecom -3% -3.3% 2.2% 1.1% -14.3% -26.2%
DE Market 0% 4.6% 12.1% 9.9% 14.6% 18.2%
1 Year Return vs Industry and Market
  • E5F outperformed the Wireless Telecom industry which returned 1.1% over the past year.
  • E5F outperformed the Market in Germany which returned 9.9% over the past year.
Price Volatility
E5F
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for XL Axiata's competitors could be found in our database.

Value

 Is XL Axiata 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 XL Axiata 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 XL Axiata.

DB:E5F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 19 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:E5F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Wireless Telecom Unlevered Beta Simply Wall St/ S&P Global 0.34
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.337 (1 + (1- 25%) (70.58%))
0.675
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)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:E5F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for XL Axiata 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:E5F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (IDR, Millions) Source Present Value
Discounted (@ 5%)
2020 2,440,600.00 Analyst x5 2,324,469.50
2021 3,595,833.33 Analyst x6 3,261,775.34
2022 4,125,500.00 Analyst x2 3,564,169.33
2023 3,874,000.00 Analyst x1 3,187,635.09
2024 3,719,682.49 Est @ -3.98% 2,915,023.76
2025 3,618,507.47 Est @ -2.72% 2,700,803.26
2026 3,552,086.39 Est @ -1.84% 2,525,074.75
2027 3,508,874.71 Est @ -1.22% 2,375,668.44
2028 3,481,394.58 Est @ -0.78% 2,244,907.55
2029 3,464,690.41 Est @ -0.48% 2,127,829.82
Present value of next 10 years cash flows IDR27,227,356.00
DB:E5F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= IDR3,464,690.41 × (1 + 0.23%) ÷ (5% – 0.23%)
IDR72,831,164.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= IDR72,831,164.05 ÷ (1 + 5%)10
IDR44,729,053.60
DB:E5F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= IDR27,227,356.00 + IDR44,729,053.60
IDR71,956,409.60
Equity Value per Share
(IDR)
= Total value / Shares Outstanding
= IDR71,956,409.60 / 10,687.96
IDR6732.47
DB:E5F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:E5F represents 6.0E-5x of IDX:EXCL
(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, EUR)
= Value per Share (IDR) x Listing Adjustment Factor
= IDR 6,732.47 x 6.0E-5
€0.42
Value per share (EUR) From above. €0.42
Current discount Discount to share price of €0.22
= -1 x (€0.22 - €0.42) / €0.42
48.3%

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

Current Discount
Amount off the current price XL Axiata is available for.
Intrinsic value
48%
Share price is €0.216 vs Future cash flow value of €0.41788
Current Discount Checks
For XL Axiata to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • XL Axiata's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • XL Axiata's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 XL Axiata's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are XL Axiata's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:E5F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in IDR IDR-248.29
IDX:EXCL Share Price ** IDX (2019-11-18) in IDR IDR3480
Europe Wireless Telecom Industry PE Ratio Median Figure of 7 Publicly-Listed Wireless Telecom Companies 22.75x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 20.03x

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

** Primary Listing of XL Axiata.

DB:E5F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 3480 ÷ -248.29

-14.02x

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

  • XL Axiata is loss making, we can't compare its value to the Europe Wireless Telecom industry average.
  • XL Axiata is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does XL Axiata's expected growth come at a high price?
Raw Data
DB:E5F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -14.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
36%per year
Europe Wireless Telecom Industry PEG Ratio Median Figure of 5 Publicly-Listed Wireless Telecom Companies 2.38x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for XL Axiata, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on XL Axiata's assets?
Raw Data
DB:E5F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in IDR IDR1,768.27
IDX:EXCL Share Price * IDX (2019-11-18) in IDR IDR3480
Europe Wireless Telecom Industry PB Ratio Median Figure of 9 Publicly-Listed Wireless Telecom Companies 1.82x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.84x
DB:E5F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 3480 ÷ 1,768.27

1.97x

* Primary Listing of XL Axiata.

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

  • XL Axiata is overvalued based on assets compared to the Europe Wireless Telecom industry average.
X
Value checks
We assess XL Axiata'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 Wireless Telecom 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 Wireless Telecom industry average (and greater than 0)? (1 check)
  5. XL Axiata has a total score of 2/6, 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.

Future Performance

 How is XL Axiata expected to perform in the next 1 to 3 years based on estimates from 19 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
36%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is XL Axiata expected to grow at an attractive rate?
  • XL Axiata's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • XL Axiata's earnings growth is expected to exceed the Germany market average.
  • XL Axiata's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:E5F Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:E5F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 36%
DB:E5F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 7.1%
Europe Wireless Telecom Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Europe Wireless Telecom Industry Revenue Growth Rate Market Cap Weighted Average 1.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
DB:E5F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in IDR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:E5F Future Estimates Data
Date (Data in IDR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 32,702,000 3,366,000 1
2022-12-31 31,466,500 2,309,000 2
2021-12-31 28,950,025 9,943,818 1,808,037 16
2020-12-31 26,937,951 9,312,385 1,117,292 19
2019-12-31 24,949,841 8,145,111 665,057 19
2019-11-18
DB:E5F Past Financials Data
Date (Data in IDR Millions) Revenue Cash Flow Net Income *
2019-09-30 24,767,122 13,249,752 -2,653,669
2019-06-30 24,149,599 12,007,476 -2,932,752
2019-03-31 23,404,671 10,087,554 -3,255,130
2018-12-31 22,938,812 9,357,786 -3,296,890
2018-09-30 22,864,589 6,723,484 -7,629
2018-06-30 22,988,151 8,499,345 150,388
2018-03-31 23,111,249 9,522,824 344,176
2017-12-31 22,875,662 9,612,170 375,244
2017-09-30 22,161,628 8,069,528 453,869
2017-06-30 21,421,337 8,209,028 293,891
2017-03-31 20,990,964 7,802,483 252,754
2016-12-31 21,341,425 7,311,992 375,516

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • XL Axiata's earnings are expected to grow significantly at over 20% yearly.
  • XL Axiata's revenue is expected to grow by 7.1% 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
DB:E5F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below

All data from XL Axiata Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:E5F Future Estimates Data
Date (Data in IDR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 156.22 191.52 128.28 10.00
2020-12-31 111.28 168.40 28.80 15.00
2019-12-31 68.88 88.30 47.60 13.00
2019-11-18
DB:E5F Past Financials Data
Date (Data in IDR Millions) EPS *
2019-09-30 -248.29
2019-06-30 -274.40
2019-03-31 -304.56
2018-12-31 -308.47
2018-09-30 -0.71
2018-06-30 14.07
2018-03-31 32.20
2017-12-31 35.11
2017-09-30 42.46
2017-06-30 27.49
2017-03-31 24.04
2016-12-31 37.63

*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.
  • XL Axiata is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess XL Axiata'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
XL Axiata has a total score of 4/6, 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.

Past Performance

  How has XL Axiata 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 XL Axiata's growth in the last year to its industry (Wireless Telecom).
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.
  • XL Axiata does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare XL Axiata's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare XL Axiata's 1-year growth to the Europe Wireless Telecom industry average as it is not currently profitable.
Earnings and Revenue History
XL Axiata'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 XL Axiata Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:E5F Past Revenue, Cash Flow and Net Income Data
Date (Data in IDR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 24,767,122.00 -2,653,669.00 6,037,045.00
2019-06-30 24,149,599.00 -2,932,752.00 5,932,612.00
2019-03-31 23,404,671.00 -3,255,130.00 5,845,927.00
2018-12-31 22,938,812.00 -3,296,890.00 5,722,004.00
2018-09-30 22,864,589.00 -7,629.00 5,809,818.00
2018-06-30 22,988,151.00 150,388.00 5,892,324.00
2018-03-31 23,111,249.00 344,176.00 5,943,287.00
2017-12-31 22,875,662.00 375,244.00 5,693,694.00
2017-09-30 22,161,628.00 453,869.00 5,608,536.00
2017-06-30 21,421,337.00 293,891.00 5,450,221.00
2017-03-31 20,990,964.00 252,754.00 5,203,402.00
2016-12-31 21,341,425.00 375,516.00 5,204,851.00
2016-09-30 22,037,173.00 640,923.00 5,113,823.00
2016-06-30 22,638,498.00 1,050,289.00 5,122,972.00
2016-03-31 23,011,372.00 901,999.00 5,273,359.00
2015-12-31 22,876,182.00 -25,338.00 5,293,962.00
2015-09-30 22,841,351.00 -472,881.00 5,163,684.00
2015-06-30 23,004,382.00 -1,209,787.00 5,177,246.00
2015-03-31 23,428,313.00 -1,940,770.00 5,271,723.00
2014-12-31 23,460,015.00 -803,714.00 5,149,392.00
2014-09-30 22,997,338.00 -721,566.00 5,087,350.00
2014-06-30 22,521,257.00 -82,424.00 4,811,784.00
2014-03-31 21,756,053.00 1,096,287.00 4,430,328.00
2013-12-31 21,265,060.00 1,032,817.00 4,303,042.00
2013-09-30 21,082,997.00 1,485,929.00 4,621,771.00
2013-06-30 21,139,248.00 1,973,633.00 4,435,862.00
2013-03-31 21,125,694.00 2,412,771.00 4,185,762.00
2012-12-31 20,969,806.00 2,764,647.00 3,925,248.00

*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.
  • It is difficult to establish if XL Axiata has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if XL Axiata has efficiently used its assets last year compared to the Europe Wireless Telecom industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if XL Axiata improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess XL Axiata'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 Wireless Telecom 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.
XL Axiata has a total score of 0/6, 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.

Health

 How is XL Axiata'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 XL Axiata's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • XL Axiata's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • XL Axiata's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of XL Axiata'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 not covered by short term assets, assets are 0.5x 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 XL Axiata Company Filings, last reported 1 month ago.

DB:E5F Past Debt and Equity Data
Date (Data in IDR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 18,899,179.00 13,393,090.00 1,496,002.00
2019-06-30 18,661,337.00 13,539,557.00 2,207,987.00
2019-03-31 18,410,910.00 13,836,057.00 1,597,139.00
2018-12-31 18,343,098.00 12,563,567.00 1,047,115.00
2018-09-30 21,483,473.00 14,955,767.00 2,398,995.00
2018-06-30 21,546,087.00 13,296,584.00 2,093,546.00
2018-03-31 21,639,483.00 14,825,996.00 3,289,402.00
2017-12-31 21,630,850.00 14,751,122.00 2,455,343.00
2017-09-30 21,497,109.00 13,379,354.00 1,299,441.00
2017-06-30 21,372,659.00 14,564,274.00 1,943,234.00
2017-03-31 21,255,984.00 14,559,756.00 1,730,485.00
2016-12-31 21,209,145.00 14,670,767.00 1,399,910.00
2016-09-30 20,944,783.00 15,156,684.00 3,343,054.00
2016-06-30 21,017,926.00 17,888,280.00 6,216,918.00
2016-03-31 14,269,918.00 25,229,439.00 2,222,154.00
2015-12-31 14,091,635.00 26,953,422.00 3,311,867.00
2015-09-30 13,619,961.00 27,050,021.00 3,643,751.00
2015-06-30 13,241,797.00 29,229,754.00 5,500,413.00
2015-03-31 13,283,434.00 30,304,849.00 6,853,434.00
2014-12-31 14,047,974.00 29,628,415.00 6,951,316.00
2014-09-30 13,963,351.00 30,412,621.00 3,146,532.00
2014-06-30 13,052,991.00 30,341,684.00 2,490,222.00
2014-03-31 14,470,969.00 28,468,805.00 2,471,544.00
2013-12-31 15,300,147.00 17,873,924.00 1,317,996.00
2013-09-30 15,203,777.00 17,596,271.00 2,117,162.00
2013-06-30 14,938,432.00 17,117,824.00 1,901,778.00
2013-03-31 15,626,042.00 14,718,719.00 516,749.00
2012-12-31 15,370,036.00 13,567,085.00 791,805.00
  • XL Axiata's level of debt (70.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (217.9% vs 70.9% today).
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.

  • Whilst loss making XL Axiata has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making XL Axiata has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -24.3% per year.
X
Financial health checks
We assess XL Axiata'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. XL Axiata has a total score of 3/6, 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.

Dividends

 What is XL Axiata'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
0%
Current annual income from XL Axiata dividends. Estimated to be 1.56% next year.
If you bought €2,000 of XL Axiata shares you are expected to receive €0 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?
  • Unable to evaluate XL Axiata's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate XL Axiata's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
DB:E5F 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 19 Analyst Estimates (S&P Global) See Below
Europe Wireless Telecom Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
Germany 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.

DB:E5F Future Dividends Estimate Data
Date (Data in IDR) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 170.00 1.00
2021-12-31 77.87 12.00
2020-12-31 45.60 13.00
2019-12-31 23.18 9.00
2019-11-18
DB:E5F Past Annualized Dividends Data
Date (Data in IDR) Dividend per share (annual) Avg. Yield (%)
2016-02-01 0.000 0.000
2015-10-28 0.000 0.000
2015-10-15 0.000 0.000
2015-08-14 0.000 0.000
2015-05-06 0.000 0.000
2015-02-06 0.000 0.000
2014-10-29 65.000 1.318
2014-08-21 65.000 1.066
2014-02-06 65.000 1.313
2013-11-01 135.000 2.712
2013-08-12 135.000 3.068
2013-05-01 135.000 2.872
2013-02-04 135.000 2.530
2012-08-01 129.880 2.077
2012-04-30 129.880 2.194
2012-01-27 129.880 2.692
2011-07-29 107.000 2.178
2011-04-15 107.000 1.734
2011-01-28 107.000 1.931
2010-10-28 0.000 0.000
2010-07-30 0.000 0.000
2009-10-30 0.000 0.000
2009-08-07 0.000 0.000

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

  • Unable to perform a dividend volatility check as XL Axiata has not reported any payouts.
  • Unable to verify if XL Axiata's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of XL Axiata's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as XL Axiata has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess XL Axiata's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 XL Axiata afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. XL Axiata has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of XL Axiata'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
Dian Siswarini
AGE 50
TENURE AS CEO 4.6 years
CEO Bio

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 a Deputy Chief Executive Officer of PT XL Axiata Tbk since January 7, 2015. She served as Group Chief Marketing & Operations Officer at Axiata Group Berhad. She served as Chief Technology & Digital Services Officer of PT XL Axiata Tbk until June 2014. Ms. Siswarini served as Chief of Technology Content & New Business for PT XL Axiata Tbk (Also known as PT Excelcomindo Pratama Tbk) from May 2011 to June 2014 and also served as its Chief Service & Technology Officer. She served as Director of Digital Services at PT XL Axiata in Indonesia. She was Director of Network Services and various key positions in XL's Network, Technology Planning and IT Strategy divisions. She was Chief Technology & New Business of PT XL Axiata Tbk since September 2011. She served as Network Service Director of PT Excelcomindo Pratama Tbk (PT XL Axiata Tbk) since April 2007. She has more than 15 years of experience in the telecommunications industry, mainly in Network and Engineering. She joined PT Excelcomindo Pratama Tbk in 1996 and served as Manager of Radio Network Design Engineering and assumed various key positions in the XL Network and Engineering Department, serving last as Senior Vice President of Network Planning & Development. Ms. Siswarini served as a Director of PT XL Axiata Tbk from April 2007 to June 2014. She is also Secretary General of the Association of Indonesian Telecommunications Providers , a coach at the Jakarta Founder Institute. She is the Commissioner of PT SSI and the PT XL Planet board. Ms. Siswarini graduated from Bandung Institute of Technology majoring in Telecommunications in 1991.

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

Average tenure and age of the XL Axiata management team in years:

4.6
Average Tenure
46
Average Age
  • The tenure for the XL Axiata management team is about average.
Management Team

Dian Siswarini

TITLE
President Director & CEO
AGE
50
TENURE
4.6 yrs

Mohamed bin Ahmad Tajudin

TITLE
CFO & Director
AGE
48
TENURE
8.2 yrs

Linda Susanty

TITLE
General Manager of Financial Accounting & Treasury

Indar Dhaliwal

TITLE
Investor Relations Executive
AGE
31
TENURE
4.7 yrs

Dewie Pelitawati

TITLE
Senior General Manager of Legal

Budi Harjono

TITLE
Vice President of Network Planning & Development

Putri Lintang

TITLE
Head of Digital Svcs Mgmt
TENURE
5.5 yrs

Johnson Chan

TITLE
Chief Strategic Partnership Officer
AGE
48

Mohammed Ali

TITLE
Chief Revenue Management Officer
AGE
44
TENURE
4.3 yrs

Feiruz Bin Abdul Malek

TITLE
Vice President of Strategic Finance
AGE
43
TENURE
4.5 yrs
Board of Directors Tenure

Average tenure and age of the XL Axiata board of directors in years:

4.1
Average Tenure
52
Average Age
  • The tenure for the XL Axiata board of directors is about average.
Board of Directors

Mohamed bin Ahmad Tajudin

TITLE
CFO & Director
AGE
48
TENURE
8.2 yrs

Muhammad Basri

TITLE
President Commissioner
AGE
54
TENURE
3.2 yrs

Dian Siswarini

TITLE
President Director & CEO
AGE
50
TENURE
4.6 yrs

Yasmin Stamboel Wirjawan

TITLE
Independent Commissioner
AGE
50
TENURE
8.6 yrs

Muliadi Rahardja

TITLE
Independent Commissioner
AGE
60
TENURE
2.3 yrs

Yessie Yosetya

TITLE
Independent Director
AGE
46
TENURE
3.7 yrs

Abhijit Navalekar

TITLE
Director
AGE
47
TENURE
2.3 yrs

Allan Bonke

TITLE
Director
AGE
55
TENURE
2.3 yrs

Peter Chambers

TITLE
Commissioner
AGE
64
TENURE
11.6 yrs

Jamaludin bin Ibrahim

TITLE
Commissioner
AGE
60
TENURE
11.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess XL Axiata'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. XL Axiata 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.

News

Simply Wall St News

Company Info

Description

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.

Details
Name: PT XL Axiata Tbk
E5F
Exchange: DB
Founded: 1989
IDR2,380,285,308
10,687,960,423
Website: http://www.xl.co.id
Address: PT XL Axiata Tbk
XL Axiata Tower,
Jl. HR Rasuna Said X5 Kav. 11 - 12,
Jakarta Selatan,
Jakarta Raya, 12950,
Indonesia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
IDX EXCL Ordinary Shares Indonesia Stock Exchange ID IDR 29. Sep 2005
DB E5F Ordinary Shares Deutsche Boerse AG DE EUR 29. Sep 2005
OTCPK PTXK.Y UNSPONSORED ADR Pink Sheets LLC US USD 23. Mar 2012
Number of employees
Current staff
Staff numbers
1,649
XL Axiata employees.
Industry
Wireless Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 21:02
End of day share price update: 2019/11/18 00:00
Last estimates confirmation: 2019/11/08
Last earnings filing: 2019/11/01
Last earnings reported: 2019/09/30
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.