Discounted Cash Flow Calculation for IDX:PEGE using Excess Returns Model Model
The calculations below outline how an intrinsic value for Panca Global Kapital is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Amount off the current price
Panca Global Kapital
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
Panca Global Kapital
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
Panca Global Kapital's share price is below the future cash flow value, and at a moderate discount (> 20%).
Panca Global Kapital'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
Panca Global Kapital's
is considered below, and whether this is a fair price.
Price based on past earnings
Panca Global Kapital's earnings available for a low price, and how does
this compare to other companies in the same industry?
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Panca Global Kapital has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Show me the analysis anyway
The future performance of a company is measured in the same way as past
performance, by looking at estimated
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
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Panca Global Kapital
expected to grow at an
Unable to compare Panca Global Kapital's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
Unable to compare Panca Global Kapital's earnings growth to the Indonesia market average as no estimate data is available.
Unable to compare Panca Global Kapital's revenue growth to the Indonesia market average as no estimate data is available.
Unable to determine if Panca Global Kapital is high growth as no earnings estimate data is available.
Unable to determine if Panca Global Kapital is high growth as no revenue estimate data is available.
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.
All data from Panca Global Kapital Company Filings, last reported 6 months ago, and in
Trailing twelve months (TTM)
annual period rather than quarterly.
IDX:PEGE Past Financials Data
Date (Data in IDR Millions)
*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.
Unable to establish if Panca Global Kapital will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Examine whether Panca Global Kapital is trading at Panca Global Kapital'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
Panca Global Kapital's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
Panca Global Kapital
has a total score of
4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
Panca Global Kapital's finances.
The net worth of a company is the difference between its assets and liabilities.
Panca Global Kapital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
Panca Global Kapital's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
Panca Global Kapital'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
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Low level of unsold assets.
Panca Global Kapital has no debt, it does not need to be covered by short term assets.
Nearly all companies have debt. Debt in itself isn’t
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.
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.
TENURE AS CEO
Ms. Justy Intan serves as an Associate President at PT Panca Global Securities Tbk since October 2018. Studied at STMIK Bina Nusantara in 1989. Began her career in 1990 to 1992 as Accounting Staff in PT Berca Hardaya Perkasa. In 1993 to 2000 as Finance Staff in PT Panin Sekuritas. In 2000 to 2017 as Associate Director in PT Panca Global Kapital Tbk. In January 2018 to 30 September 2018 as Head of Operasional in PT Panca Global Sekuritas.
Insufficient data for Justy to compare compensation growth.
Insufficient data for Justy to establish whether their remuneration is reasonable compared to companies of similar size in .
Board of Directors Tenure
Average tenure and age of the
Panca Global Kapital
board of directors in years:
The average tenure for the Panca Global Kapital board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Farida Eva Hutapea
Who owns this company?
Recent Insider Trading
No 3 month open market individual insider trading information.
PT Panca Global Kapital Tbk engages in the securities brokerage activities in Indonesia. The company is involved in trading stock option contracts; and fixed income products comprising government bonds and corporate bonds. It also provides a range of corporate restructuring and advisory services, such as securities arrangement, business valuation, initial public offering, and merger and acquisition services. The company was formerly known as PT Panca Global Securities Tbk. PT Panca Global Kapital Tbk was founded in 1999 and is headquartered in Jakarta, Indonesia.
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