Fundamental Analysis: Sunday - March 21, 2021

FUNDAMENTAL
ANALYSIS
Sunday – March 21, 2021
Analyzed by Rohan, S.Ak., CAP., CRA

Table of Contents
Author Note ............................................................................................................................... 1

Fundamental Analysis................................................................................................................. 2
Advertising, Printing & Media ................................................................................................. 2
Automotive and Components................................................................................................. 4
Bank ........................................................................................................................................ 6
Building Construction ............................................................................................................. 8
Cement ................................................................................................................................. 10
Coal Mining ........................................................................................................................... 12
Computer and Services ......................................................................................................... 14
Cosmetics and Household .................................................................................................... 16
Energy ................................................................................................................................... 18
Food and Beverages ............................................................................................................. 20
Health Care ........................................................................................................................... 22
Metal and Allied Products .................................................................................................... 24
Metal and Mineral Mining .................................................................................................... 26
Pharmaceuticals ................................................................................................................... 28
Plantation ............................................................................................................................. 30
Property and Real Estate ...................................................................................................... 32
Retail Trade ........................................................................................................................... 34
Telecommunication .............................................................................................................. 36
Toll Road, Airport, Harbor & Allied Products ........................................................................ 38
Wholesale (Durable & Non Durable Goods) ......................................................................... 40
Notes to Fundamental Analysis ................................................................................................ 42
General Guidance ................................................................................................................. 42
Stock Information ................................................................................................................. 42
Percentage Between Ticker Symbol and Date .................................................................. 42
Data Input – Closed Price .................................................................................................. 42
PBV Ratio........................................................................................................................... 42
P/E Ratio............................................................................................................................ 42
PEGY Ratio......................................................................................................................... 43
External Auditor ................................................................................................................ 43
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Dividend Yield ................................................................................................................... 44
Dividend Payout Ratio ....................................................................................................... 44
Firm Size ............................................................................................................................ 44
Market Share .................................................................................................................... 44
Stock Valuation ..................................................................................................................... 44
Projected Annual EPS Growth ........................................................................................... 44
Expected Rate of Return ................................................................................................... 45
Intrinsic Value ................................................................................................................... 45
Margin of Safety in Percentage ......................................................................................... 45
Future Value...................................................................................................................... 45
Fundamental Analysis ........................................................................................................... 45
Sales Growth ..................................................................................................................... 45
Asset Increases.................................................................................................................. 46
Net Profit Margin .............................................................................................................. 46
Return on Asset................................................................................................................. 46
Return on Equity ............................................................................................................... 46
Current Liquidity ............................................................................................................... 47
Debt to Equity ................................................................................................................... 47
EPS Growth ....................................................................................................................... 47
Gross Value and Gross Rank.............................................................................................. 47
Requirement Fulfilled ........................................................................................................ 47
Gross Performance ........................................................................................................... 47
Limitation ................................................................................................................................. 48
Contact Information ................................................................................................................. 49
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Author Note
1. This paper is intended for personal uses and strictly prohibited for unauthorized
distribution!
2. The following analyses are intended to support users’ decision-making through the
fundamental side of specified companies.
3. The following analyses do not provide any stock recommendation. Users of this paper are
fully responsible with their own decision making related to share transaction including the
probability of losses.
4. The following analyses calculations are based on the author personal knowledge,
judgement, and consideration. Users of this paper are expected to be fully aware of any
possibility of ineffective and misleading measurement, ratio consideration, and
judgement.
5. The following analyses are conducted based on the quarterly and annually financial data,
separated into five years analyses, one year analyses, and one quartal analyses. Users of
this paper are expected to be fully aware of any human error possibility in data input
process and other corresponding process.
1|Page
Fundamental Analysis
ADVERTISING, PRINTING & MEDIA
Stock Information
Ticker Symbol EMTK FILM JTPE KBLV LINK MDIA MNCN MSIN MSKY SCMA 81,7% 21/3/2021
Data Input - Closed Price 2.160 330 1.470 364 3.400 78 1.040 168 670 1.750 Recommendation
PBV Ratio 1,1 2,3 3,4 0,7 2,1 1,3 1,1 0,6 2,5 4,4 2,0
P/E Ratio 51,7 - 52,0 45,4 - 6,7 10,4 - 15,9 8,0 5,1 - 36,4 20,0 20,0
PEGY Ratio (5Y WA) - 0,3 1,2 1,2 0,3 0,7 - 0,4 0,4 0,2 - 5,0 - 2,8 1,0
External Auditor Big 4 - - Big 10 Big 10 - - - - Big 4 Big 4
Dividend Yield (5Y WA) 2,4% 0,0% 1,8% 0,0% 4,2% 10,2% 2,6% 8,3% 0,0% 3,5% 2,5%
Dividend Payout Ratio (5Y WA) 20,5% 0,0% 39,6% 0,0% 48,1% 33,5% 24,3% 34,1% 0,0% 70,9% 27,1%
Firm Size 30,5 27,9 27,8 29,5 29,7 29,5 30,5 28,5 29,1 29,6 29,3
Market Share (2019) 24,9% 0,6% 3,2% 0,6% 8,4% 3,4% 18,8% 4,0% 5,5% 12,4% 6,3%
Stock Valuation (2019 | Next 5Y Projection)

Ticker Symbol EMTK FILM JTPE KBLV LINK MDIA MNCN MSIN MSKY SCMA Recommendation
Projected Annual EPS Growth -27,5% 11,0% -2,3% -57,6% 12,9% 42,5% 10,9% 14,7% 19,8% 20,8% 16,3%
Expected Rate of Return -167,8% 24,9% -1,1% -61,1% 15,8% 32,1% 19,1% 25,8% -8,1% 16,9% 15,0%
Intrinsic Value - 176 569 791 2 4.018 178 1.413 300 249 2.168 MP
Margin of Safety in Percentage 0,0% 72,6% 0,0% 0,0% 18,2% 128,4% 35,8% 78,4% 0,0% 23,9% 2,0%
Future Value (5Y) - 310 1.004 1.393 3 7.081 314 2.490 528 439 3.820 MP
Fundamental Analysis - Last 5 Years (2015-2019)

Ticker Symbol EMTK FILM JTPE KBLV LINK MDIA MNCN MSIN MSKY SCMA Base Value Requirement
WA Sales Growth/Quartal 3,5% -3,9% 2,5% -11,4% 2,2% -0,7% 1,7% 5,5% -1,5% 1,8% 5,5% 1,2%
WA Asset Growth/Quartal -1,0% 1,1% 1,9% -15,8% 2,5% 5,5% 1,6% 8,6% -1,9% 2,3% 8,6% 1,5%
WA Net Profit Margin -2,3% 28,6% 8,3% -168,6% 27,8% 15,4% 24,8% 14,0% -8,7% 29,7% 29,7% 15,3%
WA Return on Asset 0,0% 5,8% 11,5% -17,2% 34,3% 10,4% 17,4% 16,6% 9,2% 32,1% 34,3% 12,9%
WA Return on Equity -4,6% 5,5% 14,3% -64,3% 21,0% 11,3% 17,1% 17,8% -13,6% 29,9% 29,9% 11,0%
WA Current Liquidity 4,8 10,3 1,3 0,2 1,0 2,8 3,9 3,1 0,5 3,6 10,3 1,2
WA Debt to Equity 0,3 0,0 1,0 2,7 0,3 0,9 0,5 0,5 1,8 0,2 0,0 1,5
WA EPS Growth -179,7% -44% 34,9% -24,2% 10,4% 32,0% 17,3% 25,3% 7,3% -10,7% 34,9% 5,0%
Gross Value - 348 145 350 - 1.294 463 356 410 538 - 37 451
Gross Rank 9 7 6 10 2 5 4 1 8 3
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✓ ✗ ✗ ✗
Gross Performance
1st Rank MNCN
2nd Rank -
3rd Rank -
Fundamental Analysis - Last Year (2019)

Average Sales Growth/Quartal 5,5% -3,9% 3,2% -27,5% 0,2% -4,8% 2,9% 4,2% -1,3% 2,5% 5,5% 0,9%
Average Asset Growth/Quartal -2,6% 1,1% 1,5% -35,9% 2,5% 2,7% 2,2% 1,8% -2,8% 2,3% 2,7% 1,0%
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Average Net Profit Margin -15,9% 23,1% 10,4% -43,3% 27,6% 5,1% 29,0% 13,5% -6,1% 23,9% 29,0% 6,7%
WA Return on Asset -7,5% 3,5% 15,2% -9,6% 34,0% 1,2% 18,7% 16,8% 10,9% 24,1% 34,0% 10,7%
WA Return on Equity -15,3% 4,0% 17,7% -14,0% 21,2% 3,1% 19,9% 17,8% -5,2% 21,1% 21,2% 7,0%
Average Current Liquidity 3,4 11,3 1,4 0,1 0,8 1,8 3,7 3,7 0,5 3,8 11,3 1,2
Average Debt to Equity 0,3 0,0 0,7 5,1 0,3 1,4 0,5 0,5 0,9 0,2 0,0 1,5
EPS Growth -1,6% -44,2% 51,3% 93,9% 20,5% 150,3% 46,5% 0,7% 70,0% -34,6% 150,3% 5,0%
Gross Value - 23 247 409 - 2.010 506 239 538 447 - 10 490
Gross Rank 9 6 5 10 2 7 1 4 8 3
Requirements Fulfilled ✗ ✗ ✓ ✗ ✗ ✗ ✓ ✗ ✗ ✗
Gross Performance
1st Rank MNCN
2nd Rank JTPE
3rd Rank -
Fundamental Analysis - Last Quartal (Q3-2020)

Quartal Sales Growth/Year 5,0% -51,5% 5,4% 9,5% 6,8% -21,3% -4,9% -92,5% -17,1% -13,5% 9,5% -9,1%
Net Profit Margin 2,1% -53,7% 5,6% -50,9% 23,7% -15,9% 24,3% 123,8% -9,2% 25,4% 123,8% -5,4%
Return on Asset -0,1% -5,3% 7,4% -1,7% 28,6% 2,0% 16,0% -42,5% 19,4% 22,7% 28,6% 9,9%
Return on Equity 2,1% -4,5% 7,5% -10,6% 20,4% -8,3% 13,8% 11,3% -6,8% 21,8% 21,8% 4,7%
Current Liquidity 3,4 20,8 1,5 0,1 0,5 1,4 4,5 3,2 1,3 3,6 20,8 1,2
Debt to Equity 0,6 0,0 0,7 6,5 0,7 1,8 0,3 0,5 0,5 0,2 0,0 1,5
EPS Growth 110,1% -199,0% -69,6% 63,0% 4,2% -379,2% -21,2% -20,5% -143,6% 32,4% 110,1% -27,1%
Gross Value 271 - 604 155 61 380 - 532 185 - 879 - 182 201
Gross Rank 2 9 5 6 1 8 4 10 7 3
Gross Performance
1st Rank MNCN
2nd Rank -
3rd Rank -
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AUTOMOTIVE AND COMPONENTS
Stock Information
Ticker Symbol ASII AUTO BOLT GDYR GJTL IMAS INDS MASA PRAS SMSM 98,9% 21/3/2021
Data Input - Closed Price 5.775 1.265 780 1.825 915 1.205 1.880 1.360 144 1.300 Recommendation
PBV Ratio 1,2 0,5 2,5 1,0 0,5 0,5 0,5 4,0 0,2 2,9 2,0
P/E Ratio 10,8 - 15,9 - 63,3 - 8,7 - 22,9 - 6,7 26,3 48,3 - 11,4 34,0 20,0
PEGY Ratio (5Y WA) 0,8 - 0,7 3,6 - 0,1 - 0,3 0,1 0,1 - 0,1 0,1 3,0 1,0
External Auditor Big 4 Big 4 Big 10 Big 4 Big 4 Big 4 Big 10 Big 4 - Big 4 Big 4
Dividend Payout Ratio (5Y WA) 33,3% 36,0% 65,2% -68,5% 7,6% -7,0% 49,4% -0,4% 0,0% 41,1% 25,0%
Firm Size 33,5 30,4 27,8 28,2 30,5 31,5 28,7 29,5 28,2 28,8 29,7
Market Share (2019) 77,9% 5,1% 0,4% 0,6% 5,2% 6,1% 0,7% 1,5% 0,1% 1,3% 2,3%

Ticker Symbol ASII AUTO BOLT GDYR GJTL IMAS INDS MASA PRAS SMSM Recommendation
Projected EPS (5Y) 1097,5 140,9 46,3 -32,4 41,3 26,5 169,6 -9,3 2,6 256,0 CY EPS
Projected Annual EPS Growth 10,8% -3,6% 16,1% 29,3% -11,8% -14,0% 1,9% -11,3% -153,0% 18,2% 3,9%
Expected Rate of Return 18,3% 19,3% 9,3% -10,7% -49,5% -51,8% 10,4% -42,1% -24,8% 25,5% 15,0%
Intrinsic Value 7.582 1.738 691 589 17 18 1.747 50 20 2.300 MP
Future Value (5Y) 13.361 3.063 1.218 1.037 30 31 3.079 88 35 4.053 MP

Ticker Symbol ASII AUTO BOLT GDYR GJTL IMAS INDS MASA PRAS SMSM Base Value Requirement
WA Sales Growth/Quartal 1,4% 1,4% 2,0% -0,1% 1,2% 0,8% 0,9% 2,4% -1,5% 2,1% 2,4% 1,3%
WA Asset Growth/Quartal 2,1% 0,7% 1,7% 0,3% 0,4% 3,8% 1,3% -2,2% 0,8% 2,7% 3,8% 1,5%
WA Net Profit Margin 11,1% 3,9% 8,9% -1,1% 1,3% 1,3% 4,0% -3,3% 1,4% 15,9% 15,9% 4,4%
WA Return on Asset 7,2% 2,8% 11,8% 0,2% 5,8% 1,3% 5,1% 0,3% 5,2% 26,0% 26,0% 4,4%
WA Return on Equity 14,8% 5,0% 11,7% -2,2% 2,1% 0,7% 3,9% -3,8% 0,3% 28,1% 28,1% 3,6%
WA Debt to Equity 0,9 0,4 0,6 1,3 2,3 3,1 0,2 0,9 1,3 0,3 0,2 1,5
WA EPS Growth 9,6% 18,0% -20,4% 172,2% 89,9% -65,0% 344,2% -429,6% -208,6% 8,0% 344,2% 0,4%
Gross Value 369 263 417 121 187 149 431 - 14 9 638
Gross Rank 4 5 3 8 6 7 2 10 9 1
Requirements Fulfilled ✓ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✓
Gross Performance
1st Rank SMSM
2nd Rank ASII
3rd Rank -

Average Sales Growth/Quartal -0,2% 0,1% 0,4% -4,4% 0,9% 1,5% -3,4% 0,3% -12,3% 0,0% 1,5% -0,5%
Average Asset Growth/Quartal 0,5% 0,2% -0,9% -2,0% -1,1% 2,2% 3,4% -9,4% 0,3% 2,6% 3,4% 0,6%
Average Net Profit Margin 11,0% 4,6% 5,5% -2,5% 2,3% 5,4% 3,4% -5,1% -2,5% 15,6% 15,6% 3,8%
WA Return on Equity 14,3% 6,4% 7,9% -4,6% 4,9% 6,4% 3,1% -6,0% -2,3% 25,1% 25,1% 3,3%
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EPS Growth -2,7% 20,0% -32,0% -150,3% 460,9% 57,8% -8,3% 60,8% -786,2% 0,8% 460,9% 5,0%
Gross Value 257 209 215 - 343 252 260 121 - 202 - 926 561
Gross Rank 3 6 5 9 4 2 7 8 10 1
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -26,4% -25,8% -36,9% -23,6% -19,4% -23,4% -26,3% -17,7% -30,9% -69,9% -17,7% -25,6%
Net Profit Margin 12,5% -3,3% -3,8% -5,8% -1,1% -4,8% 3,0% 6,7% -3,2% 19,7% 19,7% 2,0%
Return on Asset 4,2% -0,3% 0,1% -5,1% 5,7% 0,7% 1,6% 4,4% 0,6% 7,8% 7,8% 2,0%
Return on Equity 11,1% -3,4% -3,9% -11,9% -2,2% -7,8% 1,8% 8,4% -1,6% 8,5% 11,1% -0,1%
Debt to Equity 0,7 0,4 0,6 1,6 1,9 4,0 0,1 1,1 2,1 0,2 0,1 1,5
EPS Growth -18,7% -147,0% -156,1% -2232,2% -151,8% -421,2% -53,8% 266,3% 79,7% -65,6% 266,3% -73,3%
Gross Value 167 - 136 - 192 - 1.101 - 43 - 364 83 249 - 92 46
Gross Rank 2 7 8 10 5 9 3 1 6 4
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -
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BANK
Stock Information
Ticker Symbol BBCA BBKP BBNI BBRI BBTN BDMN BMRI BNGA BNII BNLI 78,8% 21/3/2021
Data Input - Closed Price 33.800 520 6.150 4.670 1.920 3.050 6.775 1.105 404 2.270 Recommendation
PBV Ratio 4,5 0,6 0,8 2,5 1,2 0,7 1,2 0,7 1,2 2,6 2,0
P/E Ratio 31,2 - 4,3 19,8 30,5 13,6 9,6 16,4 7,5 20,7 111,1 20,0
PEGY Ratio (5Y WA) 2,9 1,1 1,5 3,0 - 0,8 0,6 1,0 0,1 1,9 - 0,7 1,0
External Auditor Big 4 - Big 4 Big 4 Big 4 Big 4 Big 4 Big 4 Big 4 Big 4 Big 4
Firm Size 34,5 32,0 34,5 34,9 33,5 32,9 34,9 33,3 32,8 32,7 33,6
Market Share (2019) 11,5% 1,4% 10,5% 21,8% 4,6% 3,9% 16,4% 3,9% 2,8% 2,1% 7,9%

Ticker Symbol BBCA BBKP BBNI BBRI BBTN BDMN BMRI BNGA BNII BNLI Recommendation
Projected Annual EPS Growth 14,0% 22,6% 11,4% 12,4% 63,0% 7,1% 8,8% 4,9% 9,4% -19,4% 11,3%
Expected Rate of Return 9,0% 0,7% 21,1% 9,4% 7,8% 17,1% 16,1% 5,8% 1,9% -34,7% 15,0%
Intrinsic Value 29.475 306 9.072 4.159 1.587 3.813 8.099 831 252 153 MP
Future Value (5Y) 51.946 539 15.989 7.330 2.797 6.720 14.273 1.464 444 270 MP

Ticker Symbol BBCA BBKP BBNI BBRI BBTN BDMN BMRI BNGA BNII BNLI Base Value Requirement
WA Sales Growth/Quartal 2,1% -0,6% 3,0% 2,3% 3,2% 0,3% 1,8% 0,3% 0,8% -1,1% 3,2% 1,2%
WA Asset Growth/Quartal 2,6% 0,4% 3,0% 2,9% 3,3% 0,4% 2,2% 0,8% 0,3% -0,2% 3,3% 1,6%
WA Net Profit Margin 41,5% 6,3% 27,4% 27,7% 10,9% 18,7% 28,9% 14,3% 12,2% 5,9% 41,5% 19,4%
WA Return on Equity 17,3% 5,9% 13,4% 17,8% 10,2% 9,5% 13,6% 7,7% 8,2% 1,9% 17,8% 10,5%
WA Debt to Equity 4,7 10,7 5,9 5,9 11,1 3,6 5,7 5,8 6,9 6,4 3,6 5,9
WA EPS Growth 10,1% -6,5% 9,9% 8,0% -19,7% 11,0% 14,2% 60,7% 9,7% -155,6% 60,7% 4,6%
Gross Value 545 50 476 493 280 311 433 322 218 - 198
Gross Rank 1 9 3 2 7 6 4 5 8 10
Requirements Fulfilled ✓ ✗ ✗ ✓ ✗ ✗ ✓ ✗ ✗ ✗
Gross Performance
1st Rank BBCA
2nd Rank BBRI
3rd Rank BMRI

Average Sales Growth/Quartal 3,2% -0,7% 2,0% 2,2% 3,0% 2,2% 3,1% 1,7% 1,2% 1,5% 3,2% 2,2%
Average Asset Growth/Quartal 2,7% 1,2% 1,1% 2,2% 0,4% 0,9% 2,3% 0,7% -1,2% 1,4% 2,7% 1,4%
Average Net Profit Margin 42,2% 2,8% 27,6% 27,6% 6,6% 18,3% 31,8% 17,4% 10,8% 12,7% 42,2% 19,8%
EPS Growth 10,5% 14,1% 2,8% 6,2% -92,5% 1,3% 10,1% 4,6% -14,9% 66,5% 66,5% 5,0%
Gross Value 604 88 384 480 30 359 509 305 135 370
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Gross Rank 1 9 4 3 10 6 2 7 8 5
Requirements Fulfilled ✓ ✗ ✗ ✗ ✗ ✗ ✓ ✗ ✗ ✗
Gross Performance
1st Rank BBCA
2nd Rank BMRI
3rd Rank -

Quartal Sales Growth/Year 2,8% -25,9% -3,6% -5,4% -3,3% -2,1% -2,1% 2,7% -16,1% -2,6% 2,8% -3,2%
Net Profit Margin 40,8% -25,3% 10,3% 16,5% 6,0% 9,8% 21,7% 12,0% 11,3% 5,1% 40,8% 11,6%
Return on Asset 3,3% -2,2% 0,9% 1,9% 0,5% 2,5% 1,8% 1,8% 1,1% 0,7% 3,3% 1,6%
Return on Equity 14,5% -13,6% 4,0% 8,3% 8,5% 7,0% 7,1% 9,3% 5,6% 2,4% 14,5% 6,5%
Debt to Equity 4,5 6,8 5,3 5,4 19,3 3,5 4,2 6,0 5,7 5,9 3,5 5,2
EPS Growth -6,5% -751,8% -62,7% -45,2% 613,5% -27,3% -32,4% 2,3% -22,6% -61,8% 613,5% -32,0%
Gross Value 493 - 1.197 29 41 70 166 173 328 - 398 30
Gross Rank 1 10 8 6 5 4 3 2 9 7
Requirements Fulfilled ✓ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank BBCA
2nd Rank -
3rd Rank -
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BUILDING CONSTRUCTION
Stock Information
Ticker Symbol ADHI NRCA PTPP SSIA TOTL WEGE WIKA WSKT 89,3% 21/3/2021
Data Input - Closed Price 1.320 350 1.610 496 352 228 1.665 1.425 Recommendation
PBV Ratio 0,8 0,7 0,7 0,6 1,1 1,0 0,9 0,8 2,0
P/E Ratio 226,6 10,0 149,4 - 9,6 10,5 12,5 79,5 - 4,3 59,33
PEGY Ratio (5Y WA) 13,6 - 53,0 17,9 - 0,0 1,2 0,6 2,7 - 0,2 1,0
External Auditor Big 10 Big 10 - Big 10 - Big 10 Big 10 Big 10 Big 4
Dividend Yield (5Y WA) 2,3% 8,8% 2,7% 2,5% 12,2% 3,9% 1,9% 3,5% 3,7%
Dividend Payout Ratio (5Y WA) 20,1% 64,9% 26,0% 44,3% 73,2% 18,8% 15,2% 41,5% 38,0%
Firm Size 31,3 28,5 31,6 29,7 28,7 29,3 31,7 32,4 30,4
Market Share (2019) 12,2% 2,1% 19,6% 3,2% 2,0% 3,6% 21,7% 25,0% 11,2%

Ticker Symbol ADHI NRCA PTPP SSIA TOTL WEGE WIKA WSKT Recommendation
Projected Annual EPS Growth -1,1% 7,6% 14,8% 31,3% 12,4% 14,3% 2,8% 38,8% 11,7%
Expected Rate of Return 37,8% 15,4% 35,6% 29,5% 27,6% 27,8% 30,3% 38,0% 15,0%
Intrinsic Value 3.728 406 4.188 1.026 675 440 3.550 4.041 MP
Margin of Safety in Percentage 182,4% 16,0% 160,1% 106,9% 91,9% 93,2% 113,2% 183,6% 2,0%
Future Value (5Y) 6.569 715 7.380 1.808 1.190 776 6.256 7.122 MP

Ticker Symbol ADHI NRCA PTPP SSIA TOTL WEGE WIKA WSKT Base Value Requirement
WA Sales Growth/Quartal 2,4% -0,3% 3,0% 0,1% 0,0% 3,8% 3,4% 1,3% 3,8% 1,7%
WA Asset Growth/Quartal 5,3% 1,3% 6,3% 1,1% 0,1% 6,5% 6,2% 8,2% 8,2% 4,4%
WA Net Profit Margin 2,8% 4,9% 6,0% 10,8% 8,5% 8,0% 6,1% 8,5% 10,8% 7,0%
WA Return on Asset 3,9% 6,0% 5,0% 4,2% 7,6% 7,5% 4,2% 5,3% 7,6% 5,5%
WA Return on Equity 7,0% 10,1% 9,8% 9,2% 22,0% 18,2% 10,3% 12,7% 22,0% 11,0%
WA Current Liquidity 1,4 1,9 1,5 2,0 1,4 1,9 1,4 1,2 2,0 1,2
WA Debt to Equity 3,8 0,9 2,3 0,9 2,0 1,7 2,3 3,2 0,9 2,1
WA EPS Growth 14,3% -9,0% 5,6% 207,2% -3,7% 18,5% 27,4% 16,2% 207,2% 5,0%
Gross Value 312 369 452 515 408 611 461 428
Gross Rank 8 7 4 2 6 1 3 5
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✓ ✗ ✗
Gross Performance
1st Rank WEGE
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal -0,6% 1,6% -0,5% 2,1% -2,9% -5,9% -3,3% -10,4% 2,1% -1,3%
Average Asset Growth/Quartal 4,9% 2,2% 3,0% 2,2% -2,1% 1,3% 1,2% -0,4% 4,9% 1,6%
Average Net Profit Margin 3,2% 3,8% 4,7% 1,1% 7,6% 8,8% 8,1% 6,1% 8,8% 5,4%
WA Return on Asset 3,5% 6,2% 4,0% 3,6% 6,5% 6,4% 3,7% 3,6% 6,5% 4,7%
WA Return on Equity 7,5% 7,1% 6,3% 1,5% 18,5% 17,4% 11,9% 5,4% 18,5% 9,5%
Average Current Liquidity 1,3 1,9 1,4 1,9 1,5 1,8 1,5 1,1 1,9 1,2
Average Debt to Equity 4,4 1,0 2,3 0,8 1,8 1,6 2,3 3,5 0,8 1,9
8|Page
EPS Growth 3,1% -14,3% -38,3% 51,7% -14,1% 2,7% 26,4% -77,7% 51,7% 2,5%
Gross Value 277 464 247 521 227 218 267 - 407
Gross Rank 3 2 5 1 6 7 4 8
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -5,4% -12,6% -37,6% -23,3% -7,3% -36,6% -43,3% -46,7% -5,4% -26,6%
Net Profit Margin 0,2% 3,9% 0,5% -8,6% 4,7% 6,1% 1,4% -28,8% 6,1% 1,2%
Return on Asset 2,1% 5,8% 1,7% -0,9% 3,8% 3,2% 0,6% 0,0% 5,8% 2,0%
Return on Equity 0,4% 7,2% 0,5% -5,8% 10,1% 8,0% 1,2% -19,0% 10,1% 3,1%
Current Liquidity 1,1 2,0 1,1 1,6 1,5 1,6 1,0 1,0 2,0 1,2
Debt to Equity 5,7 0,9 2,8 0,8 1,7 1,5 2,8 3,9 0,8 2,1
EPS Growth -96,9% -13,6% -94,5% -279,0% -35,1% -61,8% -92,8% -538,0% -13,6% -65,8%
Gross Value - 712 100 - 1.230 - 2.510 5 - 729 - 1.326 - 5.380
Gross Rank 3 1 5 7 2 4 6 8
Requirements Fulfilled ✗ ✓ ✗ ✗ ✓ ✗ ✗ ✗
Gross Performance
1st Rank NRCA
2nd Rank TOTL
3rd Rank -
9|Page
CEMENT
Stock Information
Ticker Symbol INTP SMBR SMCB SMGR WSBP WTON 100,0% 21/3/2021
Data Input - Closed Price 13.800 975 1.790 11.800 250 350 Recommendation
PBV Ratio 2,3 2,9 1,9 2,0 1,1 0,9 2,0
P/E Ratio 34,1 - 64,5 23,5 34,1 - 4,3 7,7 20,0
PEGY Ratio (5Y WA) - 30,5 1,5 - 1,2 - 7,5 - 0,5 0,30 1,0
External Auditor Big 4 - Big 4 Big 4 Big 10 Big 10 Big 4
Dividend Yield (5Y WA) 5,1% 0,4% 0,2% 1,8% 4,0% 3,4% 2,5%
Dividend Payout Ratio (5Y WA) 146,4% 47,3% 2,6% 47,3% 30,9% 23,3% 30,3%
Firm Size 30,9 29,4 30,6 32,0 30,3 29,9 30,5
Market Share (2019) 19,0% 2,4% 13,2% 48,1% 8,9% 8,4% 10%

Ticker Symbol INTP SMBR SMCB SMGR WSBP WTON Recommendation
Projected Annual EPS Growth -2,5% 33,4% -190,8% 8,3% 17,1% 3,4% 12,0%
Expected Rate of Return 5,7% 26,1% -30,4% 4,8% 27,0% 11,7% 15,0%
Intrinsic Value 10.314 1.761 165 8.464 468 346 MP
Margin of Safety in Percentage 0,0% 80,6% 0,0% 0,0% 87,3% 0,0% 2,0%
Future Value (5Y) 18.177 3.103 291 14.917 825 610 MP

Ticker Symbol INTP SMBR SMCB SMGR WSBP WTON Base Value Requirement
WA Sales Growth/Quartal -0,2% 2,3% 1,0% 3,2% 7,3% 4,8% 7,3% 3,1%
WA Asset Growth/Quartal -0,3% 2,6% 0,5% 5,4% 8,0% 5,3% 8,0% 3,6%
WA Net Profit Margin 13,2% 6,9% -5,2% 8,7% 14,0% 6,5% 14,0% 9,9%
WA Return on Asset 7,3% 4,5% 1,7% 8,4% 9,6% 7,2% 9,6% 6,4%
WA Return on Equity 8,6% 3,3% -5,9% 8,4% 13,8% 11,8% 13,8% 9,2%
WA Current Liquidity 4,1 2,9 0,6 1,5 1,4 1,1 4,1 1,2
WA Debt to Equity 0,2 0,5 1,7 0,8 1,2 1,5 0,2 1,5
WA EPS Growth -6,2% -44,8% -19,3% -6,3% 5,3% 22,7% 22,7% -0,8%
Gross Value 398 137 - 112 390 594 482
Gross Rank 3 5 6 4 1 2
Requirements Fulfilled ✗ ✗ ✗ ✗ ✓ ✗
Gross Performance
1st Rank WSBP
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 1,2% 0,0% 1,6% 7,1% -1,7% 0,5% 7,1% 0,3%
Average Asset Growth/Quartal -0,1% 0,1% 1,2% 11,8% 1,5% 3,4% 11,8% 1,2%
Average Net Profit Margin 10,1% 1,2% -1,3% 4,1% 10,8% 6,5% 10,8% 5,2%
WA Return on Equity 7,6% 0,7% 1,1% 5,2% 10,0% 12,9% 12,9% 6,3%
Average Current Liquidity 3,3 2,2 0,9 1,4 1,4 1,1 3,3 1,2
Average Debt to Equity 0,2 0,6 2,0 1,4 0,9 1,9 0,2 1,5
10 | P a g e
EPS Growth 60,2% -60,5% 160,3% -23,2% -26,9% 4,9% 160,3% -9,1%
Gross Value 491 172 212 426 351 329
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -10,6% -19,2% -5,2% -8,9% -73,9% -32,4% -5,2% -15,3%
Net Profit Margin 11,0% -9,8% 6,0% 6,0% -79,6% 1,7% 11,0% 3,0%
Return on Asset 5,7% 0,6% 6,6% 6,5% -3,9% 1,1% 6,6% 2,8%
Return on Equity 6,7% -4,5% 7,9% 5,8% -26,4% 2,0% 7,9% 3,6%
Current Liquidity 3,7 1,2 1,1 1,5 1,3 1,1 3,7 1,2
Debt to Equity 0,2 0,7 1,7 1,3 1,5 1,8 0,2 1,5
EPS Growth -18,9% -599,2% 17,2% -13,3% -289,0% -86,9% 17,2% -78,2%
Gross Value 159 - 3.897 286 52 - 4.163 - 1.039
Requirements Fulfilled ✓ ✗ ✗ ✓ ✗ ✗
Gross Performance
1st Rank INTP
2nd Rank SMGR
3rd Rank -
11 | P a g e
COAL MINING
Stock Information
Ticker Symbol ADRO BSSR DOID HRUM INDY ITMG MBAP MYOH PTBA PTRO 63,5% 21/3/2021
Data Input - Closed Price 1.300 1.600 412 5.150 1.525 12.375 2.820 1.335 2.760 1.860 Recommendation
PBV Ratio 0,7 1,5 0,8 2,2 0,7 1,1 1,7 1,7 1,9 0,6 2,0
P/E Ratio 17,3 8,5 - 48,3 25,6 - 8,9 18,2 6,8 10,3 13,7 7,2 20,0
PEGY Ratio (5Y WA) 0,6 0,1 - 0,7 - 3,3 - 0,4 0,6 0,2 0,3 0,5 0,1 1,0
External Auditor Big 4 - - Big 4 Big 4 Big 4 Big 4 Big 4 Big 4 Big 4 Big 4
Firm Size 32,2 29,0 30,4 29,6 31,5 30,5 28,6 28,4 30,8 29,7 30,1
Market Share (2019) 18,2% 2,2% 4,6% 1,4% 14,6% 9,0% 1,4% 1,3% 8,2% 2,5% 6,3%

Ticker Symbol ADRO BSSR DOID HRUM INDY ITMG MBAP MYOH PTBA PTRO Recommendation
Projected Annual EPS Growth 7,4% 31,6% 39,3% 15,7% 47,8% 2,4% 29,2% 9,2% 15,1% -8,8% 18,9%
Expected Rate of Return 14,4% 32,4% 28,5% -8,7% -7,4% 14,7% 26,4% 11,4% 23,9% -0,2% 15,0%
Intrinsic Value 1.448 3.696 821 1.854 590 13.934 5.155 1.297 4.564 1.045 MP
Future Value (5Y) 2.553 6.513 1.446 3.268 1.041 24.556 9.084 2.286 8.043 1.842 MP

Ticker Symbol ADRO BSSR DOID HRUM INDY ITMG MBAP MYOH PTBA PTRO Base Value Requirement
WA Sales Growth/Quartal 1,5% 3,4% 2,7% -0,7% 8,2% 0,4% 2,6% 2,3% 2,7% 5,2% 8,2% 2,6%
WA Asset Growth/Quartal 1,2% 2,6% 2,4% 0,7% 3,5% -0,3% 4,2% 0,9% 2,7% 2,1% 4,2% 2,0%
WA Debt to Equity 0,7 0,6 4,7 0,1 2,0 0,5 0,3 0,5 0,6 1,6 0,1 1,5
WA EPS Growth 24,2% 83,2% 66,2% -9,2% 16,2% 13,0% 18,4% 30,3% 21,2% 64,4% 83,2% 5,0%
Gross Value 325 549 292 301 347 295 594 399 475 331
Gross Rank 7 2 10 8 5 9 1 4 3 6
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✓ ✗
Gross Performance
1st Rank PTBA
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal -2,1% -2,5% -1,3% -7,0% -2,6% -4,8% -0,8% 0,3% 0,7% -0,5% 0,7% -1,5%
Average Asset Growth/Quartal -0,5% -0,5% -1,1% -2,1% -1,4% -5,3% 1,6% 0,4% 1,9% -1,2% 1,9% -0,3%
12 | P a g e
EPS Growth -12,6% -57,7% -74,0% -52,0% -95,1% -53,1% -32,7% -19,0% -21,1% 29,8% 29,8% -38,7%
Gross Value - 85 - 299 - 390 - 949 - 639 - 846 264 367 536 150
Gross Rank 5 6 7 10 8 9 3 2 1 4
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✓ ✓ ✓ ✗
Gross Performance
1st Rank PTBA
2nd Rank MYOH
3rd Rank MBAP

Quartal Sales Growth/Year -22,5% -16,4% -24,7% -28,5% -22,1% -29,7% -14,5% -26,3% -20,9% -30,5% -14,5% -23,6%
Net Profit Margin 6,2% 10,1% -0,7% 20,1% -2,9% 4,4% 16,0% 10,8% 13,6% 5,3% 20,1% 8,3%
Return on Asset 4,5% 17,5% 5,2% 3,1% 4,4% 7,0% 25,1% 19,2% 9,9% 7,3% 25,1% 10,3%
Return on Equity 4,1% 17,8% -1,7% 8,6% -8,0% 6,0% 25,0% 16,0% 14,0% 8,2% 25,0% 9,0%
Debt to Equity 0,7 0,4 2,6 0,1 3,2 0,4 0,3 0,2 0,5 1,4 0,1 1,5
EPS Growth -60,3% 15,8% -125,8% 94,5% -1388,8% -56,3% 3,5% -164,6% -42,5% -39,9% 94,5% -41,7%
Gross Value - 57 201 - 254 251 - 1.633 - 81 313 - 23 82 - 90
Gross Rank 6 3 9 2 10 7 1 5 4 8
Requirements Fulfilled ✗ ✓ ✗ ✗ ✗ ✗ ✓ ✗ ✗ ✗
Gross Performance
1st Rank MBAP
2nd Rank BSSR
3rd Rank -
13 | P a g e
Computer and Services
Stock Information
Ticker Symbol ASGR ATIC DNET LUCK MLPT MTDL 91,7% 21/3/2021
Data Input - Closed Price 810 705 3.230 153 1.180 1.640 Recommendation
PBV Ratio 0,7 1,5 4,7 0,8 2,7 1,2 2,0
P/E Ratio 24,3 - 35,3 490,3 28,6 14,6 213,2 49,1
PEGY Ratio (5Y WA) 3,2 6,8 14,5 0,2 0,8 13,2 1,0
External Auditor Big 4 Big 10 Big 4 Big 10 Big 10 Big 4 Big 4
Firm Size 28,7 29,2 30,4 26,0 28,4 29,4 29,2
Market Share (2019) 15,5% 18,0% 0,8% 0,4% 8,0% 48,9% 8,6%

Ticker Symbol ASGR ATIC DNET LUCK MLPT MTDL Recommendation
Projected Annual EPS Growth 8,0% 1,3% -9,2% 2,3% 2,5% 14,1% 5,6%
Expected Rate of Return 37,8% 15,6% -13,8% 15,4% 1,9% 9,0% 15,0%
Intrinsic Value 2.280 827 874 178 734 1.433 MP
Future Value (5Y) 4.019 1.457 1.540 313 1.294 2.525 MP

Ticker Symbol ASGR ATIC DNET LUCK MLPT MTDL Base Value Requirement
WA Sales Growth/Quartal 3,9% 3,3% 24,1% 4,9% 1,3% 3,2% 24,1% 3,3%
WA Asset Growth/Quartal 3,5% 4,5% 4,2% 7,4% 1,2% 3,4% 7,4% 3,9%
WA Net Profit Margin 5,9% 0,9% 484,3% 6,2% 4,4% 3,3% 484,3% 4,1%
WA Debt to Equity 0,6 3,3 0,3 0,2 1,3 1,0 0,2 1,5
WA EPS Growth -2,2% -6,1% 33,8% 172% 14,7% 15,3% 172,2% 5,0%
Gross Value 349 156 506 409 219 343
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 4,1% 0,5% 18,7% 6,8% 0,2% 4,3% 18,7% 3,2%
Average Asset Growth/Quartal 6,3% 3,8% 1,6% 6,0% 0,6% 3,8% 6,3% 3,7%
Average Net Profit Margin 4,0% 0,2% 181,0% 8,2% 4,6% 3,6% 181,0% 4,1%
14 | P a g e
EPS Growth -7,2% -16,4% 83,5% 207,0% 48,3% 25,6% 207,0% 5,0%
Gross Value 366 120 501 455 244 394
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -14,6% 11,1% 102,8% 4,4% 8,7% -1,8% 102,8% 1,6%
Net Profit Margin 1,4% -0,6% 22,1% 3,5% 6,2% 3,9% 22,1% 2,9%
Return on Asset 3,2% 4,4% 1,0% 2,1% 8,6% 12,0% 12,0% 5,2%
Return on Equity 2,8% -4,2% 1,0% 2,9% 18,2% 15,8% 18,2% 6,1%
Debt to Equity 0,5 3,9 0,6 0,2 1,8 0,7 0,2 1,5
EPS Growth -82,1% -165,2% -82,0% -45,3% 20,7% -2,2% 20,7% -59,4%
Gross Value - 246 - 765 6 - 21 376 299
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -
15 | P a g e
COSMETICS AND HOUSEHOLD
Stock Information
Ticker Symbol KINO KPAS MBTO MRAT TCID UNVR 100,0% 21/3/2021
Data Input - Closed Price 2.090 75 116 216 6.375 6.750 Recommendation
PBV Ratio 1,1 0,4 0,8 0,3 0,7 39,7 2,0
P/E Ratio 13,9 - 31,3 - 1,1 87,8 - 12,8 35,5 20,0
PEGY Ratio (5Y WA) 0,2 0,7 0,0 - 2,2 - 1,8 4,5 1,0
External Auditor Big 10 - Big 10 - Big 4 Big 4 Big 4
Firm Size 29,2 26,3 27,1 27,0 28,6 30,7 28,1
Market Share (2019) 9,1% 0,1% 1,0% 0,6% 5,5% 83,6% 3%

Ticker Symbol KINO KPAS MBTO MRAT TCID UNVR Recommendation
Projected Annual EPS Growth 3,2% 5,2% -25,6% -187,3% 16,8% 0,8% 0,1%
Expected Rate of Return 24,8% 23,0% -207,2% -24,5% 32,5% 3,8% 15,0%
Intrinsic Value 3.596 120 - 93 30 14.775 4.607 MP
Future Value (5Y) 6.337 211 - 164 53 26.038 8.119 MP

Ticker Symbol KINO KPAS MBTO MRAT TCID UNVR Base Value Requirement
WA Sales Growth/Quartal 2,7% -0,4% -1,5% -1,5% 1,0% 0,9% 2,7% 0,2%
WA Asset Growth/Quartal 4,0% 3,4% -1,1% 0,6% 1,3% 1,7% 4,0% 1,7%
WA Net Profit Margin 8,8% 0,9% -5,3% 0,1% 8,6% 17,5% 17,5% 5,1%
WA Return on Asset 7,6% 4,3% -5,5% 1,5% 9,8% 48,9% 48,9% 3,5%
WA Debt to Equity 0,7 0,7 0,9 0,4 0,3 2,2 0,3 1,5
WA EPS Growth 89,3% -44% -327,9% -39,7% 0,6% 5,0% 89,3% -19,6%
Gross Value 483 131 - 395 79 350 395
Requirements Fulfilled ✓ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank KINO
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 6,7% 0,5% 1,7% 0,4% 1,4% 0,7% 6,7% 0,9%
Average Asset Growth/Quartal 6,9% 2,6% -2,3% 1,0% 1,1% 1,4% 6,9% 1,5%
Average Net Profit Margin 17,6% 0,8% -6,5% -0,3% 7,0% 17,0% 17,6% 5,9%
WA Return on Asset 8,1% 4,1% -6,7% 1,8% 8,8% 47,6% 47,6% 3,2%
16 | P a g e
EPS Growth 243,5% -30,5% 41,3% -93,0% -16,1% -18,8% 243,5% -23,4%
Gross Value 541 145 27 139 296 334
Gross Performance
1st Rank KINO
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -10,7% -4,3% -41,2% 0,0% -32,1% 0,3% 0,3% -14,7%
Net Profit Margin 5,2% -2,7% -36,0% 0,3% -5,1% 16,8% 16,8% -0,6%
Return on Asset 6,5% 2,3% -23,9% 1,3% -5,0% 44,9% 44,9% 1,3%
Return on Equity 7,8% -1,3% -71,9% 0,2% -5,4% 111,8% 111,8% 0,3%
Current Liquidity 1,3 1,4 0,9 243,9% 10,7 0,8 10,7 1,2
Debt to Equity 0,9 0,7 2,4 53,5% 0,2 2,2 0,2 1,5
EPS Growth -58,4% -430,9% -64,0% 508,4% -169,3% -1,9% 508,4% -73,4%
Gross Value - 3.501 - 1.469 -14.280 197 - 10.750 415
Gross Performance
1st Rank KINO
2nd Rank -
3rd Rank -
17 | P a g e
ENERGY
Stock Information
Ticker Symbol KOPI MPOW PGAS POWR RAJA 99,3% 21/3/2021
Data Input - Closed Price 570 84 1425 710 232 Recommendation
PBV Ratio 4,5 0,5 0,7 1,2 0,5 2,0
P/E Ratio 133,1 - 9,6 20,6 11,8 155,6 62,3
PEGY Ratio (5Y WA) - 0,1 0,3 - 1,8 0,7 - 72,8 1,0
External Auditor - - Big 4 Big 4 - Big 4
Dividend Yield (5Y WA) 0,0% 0,0% 4,5% 7,6% 1,8% 2,8%
Dividend Payout Ratio (5Y WA) 0,0% 0,0% 63,2% 63,3% 15,6% 28,4%
Firm Size 25,9 26,3 32,3 30,6 28,5 28,8
Market Share (2019) 0,3% 0,1% 83,5% 12,8% 2,7% 3,9%

Ticker Symbol KOPI MPOW PGAS POWR RAJA Recommendation
Projected Annual EPS Growth -53,1% 22,2% 21,0% 7,3% 12,8% 15,8%
Expected Rate of Return -61,6% 5,9% 16,0% 23,4% 15,1% 15,0%
Intrinsic Value 3 64 1.696 1.153 266 MP
Margin of Safety in Percentage 0,0% 0,0% 19,0% 62,4% 14,4% 2,0%
Future Value (5Y) 5 112 2.989 2.032 468 MP

Ticker Symbol KOPI MPOW PGAS POWR RAJA Base Value Requirement
WA Sales Growth/Quartal 3,0% -2,8% 2,0% 0,6% -2,1% 3,0% 0,1%
WA Asset Growth/Quartal -0,6% -2,1% 1,3% 1,3% 1,9% 1,9% 0,4%
WA Net Profit Margin -4,4% 12,4% 8,3% 19,9% 5,7% 19,9% 8,4%
WA Return on Asset 16,7% 6,8% 7,6% 11,4% 4,8% 16,7% 9,5%
WA Return on Equity 0,2% 4,6% 7,9% 17,8% 7,1% 17,8% 4,9%
WA Current Liquidity 1,9 0,5 2,7 5,1 2,2 5,1 1,2
WA Debt to Equity 0,6 1,2 1,2 1,1 0,5 0,5 1,5
WA EPS Growth -1268,0% -33,5% -16,2% 9,5% -4,0% 9,5% -11,0%
Gross Value - 13.070 - 417 151 561 228
Gross Rank 5 4 3 1 2
Requirements Fulfilled ✗ ✗ ✗ ✓ ✗
Gross Performance
1st Rank POWR
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 22,6% -4,3% -1,2% -0,4% -0,2% 22,6% -0,6%
Average Asset Growth/Quartal 0,3% -3,2% -2,8% -0,7% -2,4% 0,3% -1,8%
Average Net Profit Margin 8,8% 17,6% 5,9% 18,9% 6,8% 18,9% 11,6%
WA Return on Asset 19,6% 6,0% 7,4% 11,9% 1,9% 19,6% 9,4%
WA Return on Equity 15,7% 5,8% 5,6% 16,8% 5,8% 16,8% 9,9%
Average Current Liquidity 1,3 54,9% 2,0 6,6 2,7 6,6 1,2
Average Debt to Equity 0,8 1,0 1,3 1,0 0,5 0,5 1,5
18 | P a g e
EPS Growth 113,4% 0,5% -70,3% 38,1% -51,1% 113,4% 5,0%
Gross Value 626 - 1.037 - 1.030 148 - 765
Requirements Fulfilled ✗ ✗ ✗ ✓ ✗
Gross Performance
1st Rank POWR
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year 0,2% -30,4% -19,5% -18,2% -13,0% 0,2% -16,9%
Net Profit Margin 1,5% -18,3% 3,9% 14,2% 0,4% 14,2% 2,0%
Return on Asset 14,2% 1,9% 5,6% 8,9% 3,1% 14,2% 6,7%
Return on Equity 3,4% -5,1% 3,5% 9,8% 0,3% 9,8% 2,4%
Current Liquidity 1,3 0,3 2,7 10,2 2,8 10,2 1,2
Debt to Equity 1,1 0,9 1,3 1,0 0,4 0,4 1,5
EPS Growth -56,1% -333,4% 6,9% -38,7% -92,8% 6,9% -45,2%
Gross Value - 537 -24.764 -12.440 -12.028 -9.663
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -
19 | P a g e
FOOD AND BEVERAGES
Stock Information
Ticker Symbol ADES CAMP CEKA CLEO HOKI ICBP INDF MYOR ROTI ULTJ 81,8% 21/3/2021
Data Input - Closed Price 1.795 246 1.865 464 258 8.825 6.500 2.720 1.390 1.535 Recommendation
PBV Ratio 1,6 1,5 0,9 6,5 3,8 2,2 0,8 5,6 3,2 3,8 3,0
P/E Ratio 10,7 47,6 7,2 44,3 64,6 17,8 9,1 28,7 74,0 13,5 31,73
PEGY Ratio (5Y WA) 0,3 1,5 0,1 0,6 1,6 0,9 0,7 1,1 3,9 0,5 1,0
External Auditor Big 10 - Big 4 - Big 10 Big 4 Big 4 - Big 4 Big 10 Big 4
Firm Size 27,5 27,7 28,0 27,9 27,5 32,3 32,7 30,6 29,0 29,4 29,3
Market Share (2019) 0,4% 0,5% 1,6% 0,6% 0,8% 21,4% 38,8% 12,7% 1,7% 3,2% 4,8%

Ticker Symbol ADES CAMP CEKA CLEO HOKI ICBP INDF MYOR ROTI ULTJ Recommendation
Projected EPS (5Y) 188,9 14,7 497,8 18,3 34,4 846,3 957,8 172,5 59,4 191,1 CY EPS
Projected Annual EPS Growth 5,8% 2,5% 6,6% 11,0% 25,8% 13,0% 7,3% 13,6% 9,2% 16,3% 9,5%
Expected Rate of Return 2% 24% 16% 10% 19% 13% 10% 14% 7% 12% 15%
Intrinsic Value 1.145 408 2.213 429 344 9.369 5.819 2.932 1.100 1.532 MP
Future Value (5Y) 2.017 719 3.900 757 606 16.511 10.255 5.167 1.938 2.700 MP

Ticker Symbol ADES CAMP CEKA CLEO HOKI ICBP INDF MYOR ROTI ULTJ Base Value Requirement
WA Sales Growth/Quartal 1,0% 1,1% -1,6% 6,8% 3,5% 1,9% 1,1% 2,7% 3,0% 2,5% 6,8% 1,7%
WA Asset Growth/Quartal 1,2% -0,2% 0,3% 8,5% 5,7% 2,4% 0,7% 3,1% 3,3% 3,9% 8,5% 2,3%
WA Debt to Equity 0,8 0,2 0,5 1,2 0,4 0,6 0,9 1,1 0,7 0,2 0,2 1,5
WA EPS Growth 33,3% 30,2% 49,1% 76,3% 38,5% 17,2% 10,2% 26,0% 18,3% 26,0% 76,3% 5,0%
Gross Value 253 364 310 469 534 401 209 345 278 521
Gross Rank 9 5 7 3 1 4 10 6 8 2
Requirements Fulfilled ✗ ✗ ✗ ✗ ✓ ✓ ✗ ✗ ✗ ✓
Gross Performance
1st Rank HOKI
2nd Rank ULTJ
3rd Rank ICBP

Average Sales Growth/Quartal 0,9% 1,7% -3,7% 7,0% 3,7% 2,4% 1,1% 1,0% 4,8% 3,3% 7,0% 2,9%
Average Asset Growth/Quartal -1,7% 1,3% 4,5% 10,5% 2,8% 3,0% -0,1% 2,0% 1,6% 4,4% 10,5% 2,0%
20 | P a g e
EPS Growth 58,4% 23,9% 132,6% 106,7% 13,7% 15,0% 19,0% 15,8% 86,0% 47,6% 132,6% 5,0%
Gross Value 265 368 455 564 394 414 191 281 317 548
Gross Rank 9 6 3 1 5 4 10 8 7 2
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✓
Gross Performance
1st Rank ULTJ
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -21,2% -7,3% 11,7% -7,2% -23,6% 3,4% 1,6% -2,1% -0,9% -2,9% 11,7% -0,5%
Net Profit Margin 15,3% 3,2% 4,6% 13,1% 3,1% 12,8% 8,0% 9,0% 3,6% 22,2% 22,2% 9,5%
Return on Asset 14,8% 3,5% 12,0% 15,4% 7,8% 8,2% 6,8% 13,4% 4,0% 21,2% 21,2% 10,7%
Return on Equity 15,4% 3,2% 13,0% 14,7% 5,9% 12,1% 8,4% 19,4% 4,3% 28,3% 28,3% 10,7%
Debt to Equity 0,4 0,1 0,2 0,5 0,4 1,1 1,1 0,8 0,5 0,2 0,1 1,5
EPS Growth 18,2% -60,4% -28,6% -3,9% -63,4% 7,9% 6,8% 3,9% -50,8% 27,0% 27,0% -14,3%
Gross Value 178 - 44 273 179 - 270 216 148 241 - 61 494
Gross Rank 6 8 2 5 10 4 7 3 9 1
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -
21 | P a g e
HEALTH CARE
Stock Information
Ticker Symbol HEAL MIKA PRDA SAME SILO SRAJ 98,9% 21/3/2021
Data Input - Closed Price 4.690 2.890 3.700 466 4.850 218 Recommendation
PBV Ratio 4,5 8,1 2,1 4,9 1,3 1,5 3,7
P/E Ratio 30,0 54,2 21,3 - 4,5 - 137,5 - 6,0 20,0
PEGY Ratio (5Y WA) 0,6 5,6 0,6 0,1 0,3 - 0,43 1,0
External Auditor Big 4 Big 10 Big 4 Big 10 Big 10 - Big 4
Firm Size 15,6 29,4 28,4 28,2 29,8 29,1 29,0
Market Share (2019) 21,0% 18,5% 10,1% 3,1% 40,5% 5,8% 16%

Ticker Symbol HEAL MIKA PRDA SAME SILO SRAJ Recommendation
Projected Annual EPS Growth 8,3% 13,1% 3,3% -173,2% -173,0% -2,3% -53,9%
Expected Rate of Return 2,2% 10,9% 10,0% -11,3% 6,0% -5,4% 15,0%
Intrinsic Value 2.966 2.757 3.376 145 3.686 94 MP
Future Value (5Y) 5.227 4.858 5.951 255 6.497 165 MP

Ticker Symbol HEAL MIKA PRDA SAME SILO SRAJ Base Value Requirement
WA Sales Growth/Quartal 4,0% 2,7% 2,2% -1,0% 3,3% 5,3% 5,3% 3,5%
WA Net Profit Margin 8,3% 26,8% 16,0% 2,5% 0,7% -10,5% 26,8% 7,3%
WA Return on Asset 12,2% 16,6% 1,1% 7,0% 4,4% -2,7% 16,6% 6,5%
WA Return on Equity 11,3% 17,7% 10,3% 2,2% 1,1% -4,9% 17,7% 6,3%
WA Debt to Equity 0,8 0,2 0,3 0,9 0,4 0,5 0,2 1,5
WA EPS Growth 52,1% 9,0% 32,0% -35,6% -470,6% 13,9% 52,1% 5,0%
Gross Value 482 626 490 94 - 623 174
Gross Performance
1st Rank HEAL
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 4,4% 4,3% 2,2% -13,7% 4,1% 5,6% 5,6% 4,1%
Average Asset Growth/Quartal 4,9% 2,3% 1,0% -3,1% 0,2% 3,2% 4,9% 1,4%
Average Net Profit Margin 9,2% 25,0% 11,0% -10,7% -0,7% -1,9% 25,0% 5,3%
WA Return on Asset 13,8% 16,6% 9,0% 2,1% 2,5% -0,4% 16,6% 7,3%
WA Return on Equity 12,7% 16,8% 11,4% -8,1% -1,8% -1,8% 16,8% 4,9%
22 | P a g e
EPS Growth 80,0% 22,7% 19,8% -294,3% -1361,7% 20,7% 80,0% -30,2%
Gross Value 523 618 444 - 730 - 1.515 228
Requirements Fulfilled ✓ ✓ ✗ ✗ ✗ ✗
Gross Performance
1st Rank MIKA
2nd Rank HEAL
3rd Rank -

Quartal Sales Growth/Year 7,3% -2,8% -3,0% -13,4% -4,1% 5,5% 7,3% -1,8%
Net Profit Margin 12,1% 24,6% 10,2% -133,4% -0,9% -6,7% 24,6% 7,9%
Return on Asset 11,4% 14,3% 7,8% 0,1% 3,7% -1,5% 14,3% 6,0%
Return on Equity 15,0% 15,0% 9,8% -109,5% -1,0% -4,2% 15,0% 6,9%
Debt to Equity 0,9 0,2 0,2 2,3 0,5 1,5 0,2 1,5
EPS Growth 35,3% -3,9% -22,5% -433,5% 82,8% 4,3% 82,8% 5,0%
Gross Value 462 441 289 - 1.971 163 62
Gross Performance
1st Rank HEAL
2nd Rank -
3rd Rank -
23 | P a g e
METAL AND ALLIED PRODUCTS
Stock Information
Ticker Symbol BAJA BTON CTBN GDST INAI ISSP KRAS NIKL 70,2% 21/3/2021
Data Input - Closed Price 136 300 3.030 103 348 193 675 1.215 Recommendation
PBV Ratio 3,2 1,1 1,6 1,1 0,7 0,4 2,1 4,6 2,0
P/E Ratio - 248,6 14,2 73,9 - 6,3 2.166,8 21,4 - 25,4 - 146,2 20,00
PEGY Ratio (5Y WA) 7,3 0,4 - 0,4 0,0 207,0 0,1 - 0,6 - 3,5 1,0
External Auditor - - Big 10 - - - Big 4 Big 4 Big 4
Dividend Yield (5Y WA) 0,0% 0,0% 0,0% 0,0% 8,0% 0,5% 0,0% 0,0% 0,0%
Dividend Payout Ratio (5Y WA) 0,0% 0,0% 0,0% 0,0% 48,4% 29,6% 0,0% 0,0% 0,0%
Firm Size 27,4 26,2 28,3 28,1 27,9 29,5 31,5 28,2 28,2
Market Share (2019) 2,3% 0,3% 4,2% 3,9% 2,6% 10,3% 41,8% 4,8% 4,1%

Ticker Symbol BAJA BTON CTBN GDST INAI ISSP KRAS NIKL Recommendation
Projected Annual EPS Growth -230,7% 60,9% -201,8% -180,6% 12,2% -9,0% 105,9% -35,2% -59,8%
Expected Rate of Return -47,1% -23,0% -174,1% -168,6% 15,3% 7,1% -34,4% -47,6% 15,0%
Intrinsic Value 3 46 - 384 - 9 402 154 47 27 MP
Future Value (5Y) 6 81 - 676 - 16 708 271 82 48 MP

Ticker Symbol BAJA BTON CTBN GDST INAI ISSP KRAS NIKL Base Value Requirement
WA Sales Growth/Quartal -0,7% 3,3% 4,4% 4,6% 0,7% 2,5% -0,1% 1,5% 4,6% 2,0%
WA Asset Growth/Quartal -1,0% 1,8% -0,2% 2,7% 0,0% 0,7% -0,4% 1,9% 2,7% 0,7%
WA Net Profit Margin -1,4% 8,6% -6,0% -0,2% 3,7% 2,3% -10,0% 0,5% 8,6% -0,3%
WA Return on Asset 0,1% 4,3% -1,0% 0,0% 6,2% 5,1% -2,5% 1,8% 6,2% 1,8%
WA Return on Equity -26,3% 6,0% -2,0% -1,0% 13,4% 3,3% -8,0% 0,7% 13,4% 1,8%
WA Debt to Equity 7,0 0,2 0,5 0,6 3,6 1,2 1,9 2,1 0,2 1,5
WA EPS Growth -33,9% 37,9% -205,8% -216,5% 2,5% 192,8% 44,3% 41,5% 192,8% -17,1%
Gross Value - 265 572 22 194 333 428 - 119 263
Gross Rank 8 1 6 5 3 2 7 4
Requirements Fulfilled ✗ ✓ ✗ ✗ ✗ ✓ ✗ ✗
Gross Performance
1st Rank BTON
2nd Rank ISSP
3rd Rank -

Average Sales Growth/Quartal -4,3% 1,0% 12,6% 4,5% 1,8% 2,3% -5,9% -1,0% 12,6% -0,2%
Average Asset Growth/Quartal -1,8% 1,5% 1,5% 6,8% -3,5% -0,3% -7,4% -5,9% 6,8% -1,1%
Average Net Profit Margin -0,3% 1,0% 3,3% 1,2% 3,4% 2,8% -13,8% 2,6% 3,4% 2,0%
WA Return on Asset -1,4% 2,5% 3,4% 1,8% 5,0% 5,3% -7,3% 4,1% 5,3% 2,9%
WA Return on Equity -9,0% 0,9% 3,7% 2,4% 11,3% 5,0% -10,1% 8,1% 11,3% 1,5%
24 | P a g e
EPS Growth 101,2% -95,1% 127,2% 130,5% -17,1% 281,2% 99,4% 267,4% 281,2% 5,0%
Gross Value - 122 279 494 383 343 460 - 665 332
Gross Rank 7 6 1 3 4 2 8 5
Requirements Fulfilled ✗ ✗ ✓ ✗ ✗ ✓ ✗ ✗
Gross Performance
1st Rank CTBN
2nd Rank ISSP
3rd Rank -

Quartal Sales Growth/Year 28,3% -1,0% 10,0% -26,1% -15,6% -24,8% -6,2% -9,9% 28,3% -5,6%
Net Profit Margin -0,1% 13,5% 1,7% -10,4% 0,0% 1,8% -2,8% -1,0% 13,5% 0,0%
Return on Asset 7,5% -1,3% 4,8% -1,7% 4,6% 4,5% 3,0% 0,1% 7,5% 2,7%
Return on Equity -1,3% 7,8% 2,1% -17,0% 0,0% 2,1% -8,4% -3,2% 7,8% -0,1%
Debt to Equity 9,4 0,3 0,3 1,1 3,4 1,0 6,8 1,8 0,3 2,1
EPS Growth -188,5% 1013,7% 43,5% -614,1% -99,7% -65,1% -7226,1% -156,3% 1013,7% -180,0%
Gross Value 183 479 336 - 364 89 129 - 781 15
Gross Rank 3 1 2 7 5 4 8 6
Requirements Fulfilled ✗ ✗ ✓ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank CTBN
2nd Rank -
3rd Rank -
25 | P a g e
METAL AND MINERAL MINING
Stock Information
Ticker Symbol ANTM DKFT INCO MDKA PSAB TINS 80,7% 21/3/2021
Data Input - Closed Price 2.250 166 4.500 2.410 204 1.800 Recommendation
PBV Ratio 2,9 1,2 1,5 6,2 1,0 2,7 2,0
P/E Ratio 48,5 - 4,3 29,3 51,9 149,0 - 39,4 20,0
PEGY Ratio (5Y WA) 0,3 0,1 - 0,1 3,8 - 5,7 1,3 1,0
External Auditor Big 4 - Big 4 Big 10 - Big 4 Big 4
Firm Size 31,1 28,6 31,2 30,3 30,3 30,4 30,7
Market Share (2019) 36,5% 0,6% 12,1% 6,2% 3,8% 21,5% 13%

Ticker Symbol ANTM DKFT INCO MDKA PSAB TINS Recommendation
Projected Annual EPS Growth 3,0% -15,9% -22,7% 23,3% 38,5% -174,6% 5,3%
Expected Rate of Return -26,7% 3,7% -61,9% -27,2% 5,3% -28,3% 15,0%
Intrinsic Value 271 113 20 281 150 194 MP
Future Value (5Y) 477 199 36 494 264 342 MP

Ticker Symbol ANTM DKFT INCO MDKA PSAB TINS Base Value Requirement
WA Sales Growth/Quartal 8,7% 25,4% 0,9% 11,8% 0,3% 7,6% 25,4% 5,9%
WA Net Profit Margin 0,0% -13,0% -0,6% 21,6% 7,4% 2,1% 21,6% 2,2%
WA Return on Asset 3,1% -0,3% 1,3% 16,2% 7,7% 3,3% 16,2% 3,0%
WA Return on Equity 1,2% -5,9% 0,8% 17,1% 4,8% 2,4% 17,1% 2,3%
WA Debt to Equity 0,7 1,3 0,2 1,0 1,5 1,4 0,2 1,5
WA EPS Growth 156,0% -40,5% -425,6% 13,8% -26,0% -31,1% 156,0% -20,9%
Gross Value 268 35 - 56 519 124 156
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 6,7% 1,4% -0,9% 7,0% 1,4% 15,0% 15,0% 5,1%
Average Asset Growth/Quartal -2,4% 0,0% -0,8% 3,4% 0,9% 7,7% 7,7% 1,5%
Average Net Profit Margin 2,0% -4,2% -4,4% 21,2% 5,7% 1,2% 21,2% 0,1%
WA Return on Equity 2,6% -4,3% 0,2% 16,6% 3,1% -2,7% 16,6% -0,2%
26 | P a g e
EPS Growth -77,8% -7,9% -8,9% 9,2% -79,0% -205,9% 9,2% -32,9%
Gross Value - 668 - 54 70 579 - 695 - 2.000
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -26,5% 82,4% 18,7% -4,1% 3,4% -18,7% 82,4% -5,4%
Net Profit Margin 4,6% -19,0% 13,4% 17,3% 1,0% -2,1% 17,3% 2,5%
Return on Asset 6,2% -3,4% 4,1% 14,0% 8,8% 0,5% 14,0% 5,1%
Return on Equity 5,9% -26,6% 5,1% 12,0% 0,7% -6,9% 12,0% 3,3%
Debt to Equity 0,6 2,3 0,1 0,7 1,8 2,4 0,1 1,5
EPS Growth 474,9% -114,4% 91,1% 5,7% -37,7% 44,1% 474,9% -2,3%
Gross Value 306 - 253 391 398 113 - 59
Requirements Fulfilled ✗ ✗ ✗ ✓ ✗ ✗
Gross Performance
1st Rank MDKA
2nd Rank -
3rd Rank -
27 | P a g e
PHARMACEUTICALS
Stock Information
Ticker Symbol DVLA INAF KAEF KLBF MERK PYFA SIDO TSPC 94,5% 21/3/2021
Data Input - Closed Price 2.390 2.990 3.090 1.605 3.240 910 795 1.470 Recommendation
PBV Ratio 2,0 19,1 2,5 4,2 2,4 3,5 7,2 1,1 3,3
P/E Ratio 13,6 - 368,1 284,0 27,2 19,8 22,7 27,9 9,3 20,08
PEGY Ratio (5Y WA) 0,5 210,8 - 14,1 5,4 1,0 0,9 1,4 1,6 1,0
External Auditor Big 4 - Big 10 Big 4 Big 4 Big 10 Big 4 Big 10 Big 4
Dividend Yield (5Y WA) 10,6% 0,0% 0,4% 1,5% 4% 0,2% 2,3% 3,1% 1,7%
Dividend Payout Ratio (5Y WA) 145,3% 0,0% 193,2% 44,9% 105% 12,0% 83,6% 36,2% 77,5%
Firm Size 28,2 28,0 30,5 30,6 27,5 26,0 28,9 29,8 28,7
Market Share (2019) 3,4% 2,6% 17,7% 42,5% 1,4% 0,5% 5,8% 20,7% 11,8%

Ticker Symbol DVLA INAF KAEF KLBF MERK PYFA SIDO TSPC Recommendation
Projected Annual EPS Growth -7,1% -227,3% 89,0% 12,4% 8,3% -2,4% -0,3% 11,6% 3,8%
Expected Rate of Return 1,3% -17,0% 10,2% 12,0% 14,3% -19,9% -6,4% 10,9% 15,0%
Intrinsic Value 1.450 668 2.847 1.602 3.590 170 325 1.397 MP
Future Value (5Y) 2.555 1.177 5.018 2.823 6327 300 572 2.462 MP

Ticker Symbol DVLA INAF KAEF KLBF MERK PYFA SIDO TSPC Base Value Requirement
WA Sales Growth/Quartal 2,1% -1,2% 4,3% 1,4% -1,3% 0,8% 1,9% 1,8% 4,3% 1,2%
WA Asset Growth/Quartal 1,8% -0,4% 11,9% 2,5% 1,1% 1,0% 1,3% 1,9% 11,9% 1,6%
WA Net Profit Margin 13,5% -6,1% 3,0% 11,8% 12,1% 2,4% 23,8% 7,0% 23,8% 8,4%
WA Return on Asset 15,7% -0,4% 6,3% 19,7% 20,0% 5,8% 23,7% 10,1% 23,7% 12,6%
WA Return on Equity 17,9% -8,0% 7,4% 17,3% 20,7% 5,3% 21,7% 12,2% 21,7% 11,8%
WA Debt to Equity 0,7 1,8 1,5 0,2 0,6 0,6 0,1 0,4 0,1 1,5
WA EPS Growth 18,8% -1,7% -20,5% 3,6% 16,2% 26,1% 17,6% 2,8% 26,1% 5,0%
Gross Value 482 - 84 235 435 387 298 622 316
Gross Rank 2 8 7 3 4 6 1 5
Requirements Fulfilled ✓ ✗ ✗ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank DVLA
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 1,6% -3,9% 6,0% 1,8% 5,0% -0,3% 2,6% 2,2% 6,0% 2,7%
Average Asset Growth/Quartal 2,1% -1,0% 18,0% 2,8% -8,1% 0,5% 1,5% 1,6% 18,0% 1,2%
Average Net Profit Margin 13,6% -7,0% 0,8% 11,4% 5,7% 2,7% 27,3% 6,4% 27,3% 4,8%
WA Return on Asset 15,2% -0,5% 3,1% 18,1% 8,2% 4,7% 28,1% 9,8% 28,1% 10,8%
WA Return on Equity 18,6% -6,3% 0,9% 15,8% 7,9% 5,8% 25,6% 11,3% 25,6% 9,9%
28 | P a g e
EPS Growth 10,5% 124,3% -96,0% 1,6% 109,4% 10,6% 21,7% 10,1% 124,3% 5,0%
Gross Value 407 - 9 157 356 297 166 526 269
Gross Rank 2 8 7 3 4 6 1 5
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -9,4% 28,4% 2,4% 1,6% -11,7% 5,7% 6,0% -1,0% 28,4% -0,9%
Net Profit Margin 11,5% -2,5% 0,6% 12,1% 12,5% 8,3% 28,4% 6,6% 28,4% 7,0%
Return on Asset 13,2% 0,6% 3,8% 16,5% 10,7% 4,7% 28,0% 10,3% 28,0% 11,0%
Return on Equity 14,5% -5,2% 0,9% 15,4% 12,3% 15,3% 25,9% 11,7% 25,9% 11,7%
Debt to Equity 0,4 2,1 1,6 0,3 0,6 0,6 0,1 0,5 0,1 1,5
EPS Growth -11,4% -416,2% 280,3% 8,9% -6,2% 130,1% 5,8% 19,8% 280,3% 3,4%
Gross Value 247 - 47 169 328 205 306 523 238
Gross Rank 4 8 7 2 6 3 1 5
Requirements Fulfilled ✗ ✗ ✗ ✓ ✗ ✗ ✓ ✗
Gross Performance
1st Rank SIDO
2nd Rank KLBF
3rd Rank -
29 | P a g e
PLANTATION
Stock Information
Ticker Symbol AALI BWPT DSNG LSIP PALM SGRO SIMP SMAR SSMS TBLA 91,8% 21/3/2021
Data Input - Closed Price 10.850 125 625 1.390 330 1.740 498 3.810 1.005 955 Recommendation
PBV Ratio 1,1 1,0 1,7 1,1 0,8 0,8 0,5 1,0 2,4 0,9 2,0
P/E Ratio 25,3 - 3,9 30,7 25,7 7,4 99,1 - 25,0 38,1 26,8 9,4 20,0
PEGY Ratio (5Y WA) - 1,8 0,0 - 82,0 - 1,5 - 0,9 - 3,3 0,2 0,4 - 0,6 0,3 1,0
External Auditor Big 4 - Big 4 Big 4 Big 10 Big 4 Big 4 - Big 4 - Big 4
Dividend Payout Ratio (5Y WA) 91,2% 0,0% 31,2% 57,7% -0,2% 61,7% -12,8% 84,5% 154,6% 26,5% 49,4%
Firm Size 31,0 30,4 30,1 30,0 28,8 29,9 31,2 31,1 30,1 30,6 30,3
Market Share (2019) 16,7% 2,0% 5,5% 2,9% 0,2% 2,8% 12,9% 35,3% 3,4% 10,1% 6,3%

Ticker Symbol AALI BWPT DSNG LSIP PALM SGRO SIMP SMAR SSMS TBLA Recommendation
Projected Annual EPS Growth 40,1% -24,9% 21,6% 15,2% -29,4% 34,4% -151,9% 2,6% 92,0% 19,6% 19,0%
Expected Rate of Return 12,0% -182,4% 13,6% 8,4% -152,3% 14,4% -45,2% -6,4% -1,6% 23,0% 15,0%
Intrinsic Value 10.839 - 27 670 1.182 - 7 1.934 14 1.555 527 1.525 MP
Future Value (5Y) 19.102 - 47 1.180 2.082 - 13 3.408 25 2.741 929 2.687 MP

Ticker Symbol AALI BWPT DSNG LSIP PALM SGRO SIMP SMAR SSMS TBLA Base Value Requirement
WA Sales Growth/Quartal 0,9% -0,5% 1,9% -1,2% -11,4% 0,3% -0,6% 0,5% 1,4% 1,7% 1,9% 0,5%
WA Asset Growth/Quartal 1,3% -0,3% 2,7% 0,8% -2,9% 1,9% 0,6% 0,8% 4,1% 3,6% 4,1% 1,7%
WA Net Profit Margin 7,5% -20,9% 6,0% 10,5% -12,6% 4,5% 0,4% 3,0% 14,8% 9,0% 14,8% 7,0%
WA Return on Asset 7,2% -0,2% 7,5% 5,1% 1,3% 4,0% 3,4% 4,4% 9,4% 10,2% 10,2% 5,2%
WA Return on Equity 6,7% -10,5% 9,3% 5,4% -0,6% 3,9% 0,1% 8,7% 10,4% 16,8% 16,8% 5,0%
WA Debt to Equity 0,4 1,8 2,0 0,2 0,6 1,2 0,9 1,5 1,5 2,4 0,2 1,5
WA EPS Growth -16,8% -107,7% -1,6% -20,0% -14,5% -31,4% -113,1% 87,5% -47,0% 25,2% 87,5% -15,2%
Gross Value 351 - 323 378 279 - 642 198 - 15 335 514 509
Gross Rank 4 9 3 6 10 7 8 5 1 2
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal -2,2% -5,0% 4,8% -2,1% -19,3% 0,5% -1,0% -0,8% -3,1% -0,2% 4,8% -1,7%
Average Asset Growth/Quartal 0,1% -0,6% -0,3% 0,5% 4,0% 1,2% 0,2% -1,3% 1,2% 1,5% 4,0% 0,3%
Average Net Profit Margin 1,0% -43,9% 3,0% 3,4% -40,7% 0,3% -4,9% 2,8% 3,2% 8,4% 8,4% 2,2%
WA Return on Asset 2,2% -2,9% 5,7% 0,9% -1,3% 2,3% 1,2% 3,5% 4,1% 10,1% 10,1% 1,7%
WA Return on Equity 1,0% -22,2% 4,1% 1,7% -3,9% 0,4% -3,9% 7,9% 1,0% 13,3% 13,3% 1,0%
30 | P a g e
EPS Growth -84,0% -152,4% -58,8% -23,3% 36,6% -37,1% -260,7% 50,3% -86,1% -13,5% 50,3% -40,9%
Gross Value - 26 - 1.113 130 181 - 620 64 - 526 244 - 5 357
Gross Rank 7 10 4 3 9 5 8 2 6 1
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year 7,6% -7,1% 10,4% -11,9% 22,2% -0,4% 2,2% 6,9% 13,2% 27,1% 27,1% 7,0%
Net Profit Margin 4,6% -47,4% 3,7% 12,1% 126,4% 1,1% -2,3% 0,8% 9,8% 5,0% 126,4% 4,4%
Return on Asset 5,2% -1,9% 5,7% 3,7% 1,7% 3,5% 2,8% 4,6% 7,8% 8,5% 8,5% 4,8%
Return on Equity 4,3% -26,5% 5,6% 4,3% 10,7% 0,8% -1,8% 2,6% 8,8% 9,7% 10,7% 5,0%
Debt to Equity 0,4 3,0 2,0 0,2 0,1 1,3 1,0 1,9 2,0 2,6 0,1 1,5
EPS Growth 238,5% 12,7% 21,2% 46,0% 546,0% -17,0% 50,9% -68,0% 2853,8% -18,2% 2853,8% 5,0%
Gross Value 313 - 323 217 246 504 120 112 170 435 344
Gross Rank 4 10 6 5 1 8 9 7 2 3
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -
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PROPERTY AND REAL ESTATE
Stock Information
Ticker Symbol APLN ASRI BSDE CTRA DMAS JRPT LPCK LPKR PWON SMRA 65,6% 21/3/2021
Data Input - Closed Price 173 238 1.225 1.180 248 590 1.255 204 565 1.010 Recommendation
PBV Ratio 0,3 0,5 0,8 1,3 2,1 1,1 0,3 0,5 1,6 1,6 2,0
P/E Ratio - 12,9 - 3,6 31,0 66,2 29,6 8,5 3,9 - 4,9 28,0 371,7 20,0
PEGY Ratio (5Y WA) 0,7 - 0,2 0,8 - 27,3 0,6 1,1 0,1 0,2 1,4 - 75,3 1,0
External Auditor Big 4 - - Big 4 - Big 10 Big 10 Big 10 Big 4 Big 4 Big 4
Firm Size 31,1 30,7 31,7 31,3 29,6 30,1 30,3 31,7 30,9 30,8 30,8
Market Share (2019) 4,6% 4,2% 8,6% 9,2% 3,2% 2,9% 2,1% 14,9% 8,7% 7,2% 6,6%

Ticker Symbol APLN ASRI BSDE CTRA DMAS JRPT LPCK LPKR PWON SMRA Recommendation
Projected Annual EPS Growth 56,0% 12,0% 10,4% 2,7% -13,4% 15,5% 64,4% -185,4% 16,1% 4,5% 6,8%
Expected Rate of Return 22,3% 27,9% 24,3% 9,4% 15,1% 20,5% 40,1% -10,1% 27,2% 14,1% 15,0%
Intrinsic Value 268 463 2.065 1.048 284 851 3.844 68 1.066 1.110 MP
Future Value (5Y) 473 816 3.639 1.847 501 1.500 6.775 120 1.878 1.957 MP

Ticker Symbol APLN ASRI BSDE CTRA DMAS JRPT LPCK LPKR PWON SMRA Base Value Requirement
WA Sales Growth/Quartal -3,4% 0,4% 0,5% 0,8% 7,0% 0,7% -0,3% 1,3% 2,9% 0,6% 7,0% 0,6%
WA Asset Growth/Quartal 0,9% 1,0% 2,8% 2,0% -0,2% 2,4% 5,4% 1,6% 2,0% 1,8% 5,4% 1,6%
WA Debt to Equity 1,5 1,4 0,6 1,1 0,1 0,6 0,3 0,9 0,7 1,5 0,1 1,5
WA EPS Growth -17,6% 21,6% 36,5% -3,2% 41,2% 3,7% 77,1% -29,6% 18,7% -5,5% 77,1% 5,0%
Gross Value 56 234 375 198 569 379 613 161 446 152
Gross Rank 10 6 5 7 2 4 1 8 3 9
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✓ ✗
Gross Performance
1st Rank PWON
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal -6,8% -3,3% 1,7% -0,2% 26,5% 1,0% -6,4% 2,7% 0,4% 1,2% 26,5% -1,1%
Average Asset Growth/Quartal -0,1% 1,2% 1,1% 1,4% 0,4% 1,4% 7,3% 2,9% 1,1% 1,2% 7,3% 1,2%
Average Net Profit Margin 10,7% 18,5% 49,7% 13,8% 75,6% 43,5% 32,7% -15,1% 47,4% 9,4% 75,6% 28,6%
WA Return on Equity 2,1% 5,9% 10,5% 5,4% 16,3% 14,0% 4,8% -6,1% 19,0% 5,5% 19,0% 7,7%
32 | P a g e
EPS Growth -37,6% 4,4% 83,9% -1,5% 169,0% -1,2% -95,1% -140,4% 14,6% -11,2% 169,0% -18,2%
Gross Value 20 138 349 161 673 307 309 67 399 127
Gross Rank 10 7 3 6 1 5 4 9 2 8
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -1,2% -43,8% -18,2% -8,9% -48,4% 1,6% 50,1% 3,7% -41,9% -26,1% 50,1% -13,3%
Net Profit Margin -6,8% -89,3% 14,7% 5,9% 46,2% 40,2% 40,2% -25,9% 23,9% 0,9% 46,2% 15,5%
Return on Asset 2,7% 1,3% 2,9% 3,0% 5,4% 8,5% 5,7% 7,2% 6,1% 3,3% 8,5% 4,6%
Return on Equity -2,4% -13,9% 2,4% 2,0% 7,1% 12,5% 7,9% -9,5% 5,6% 0,4% 12,5% 1,2%
Debt to Equity 1,8 1,3 0,8 1,3 0,2 0,5 0,3 0,9 0,5 1,7 0,2 1,5
EPS Growth -315,5% -229,6% -75,7% -74,2% -69,8% -7,9% 122,2% -44,0% -70,0% -93,6% 122,2% -62,2%
Gross Value - 226 - 519 122 71 245 401 613 77 188 - 40
Gross Rank 9 10 5 7 3 2 1 6 4 8
Gross Performance
1st Rank LPCK
2nd Rank -
3rd Rank -
33 | P a g e
RETAIL TRADE
Stock Information
Ticker Symbol ACES AMRT ERAA HERO LPPF MAPA MAPI MPPA RALS RANC 75,4% 21/3/2021
Data Input - Closed Price 1.570 985 2.750 900 1.415 2.440 800 276 790 555 Recommendation
PBV Ratio 5,5 5,8 1,6 1,2 5,0 2,4 2,1 10,5 1,5 1,6 3,7
P/E Ratio 38,6 46,5 20,0 - 8,3 - 4,8 - 45,9 - 14,8 - 4,7 - 44,2 9,9 20,0
PEGY Ratio (5Y WA) 2,5 0,8 0,8 0,1 - 0,2 - 0,7 - 0,1 0,0 - 1,9 0,3 1,0
External Auditor Big 10 Big 4 Big 4 Big 4 Big 4 Big 4 Big 4 Big 10 Big 4 - Big 4
Firm Size 29,6 30,9 29,9 29,4 29,6 29,4 30,5 29,2 29,2 27,8 29,6
Market Share (2019) 3,4% 30,2% 13,6% 5,1% 4,3% 3,1% 8,9% 3,6% 2,3% 1,0% 5,0%

Ticker Symbol ACES AMRT ERAA HERO LPPF MAPA MAPI MPPA RALS RANC Recommendation
Projected Annual EPS Growth 14,4% 3,1% 17,8% -206,8% 5,7% 17,9% 5,1% -32,1% 7,4% 3,4% 9,3%
Expected Rate of Return 16,0% 9,2% -3,0% -2,3% 62,7% 51,8% 44,8% -190,8% 43,6% -4,4% 15,0%
Intrinsic Value 1.873 870 1.342 455 9.157 11.177 2.886 - 97 2.740 251 MP
Future Value (5Y) 3.300 1.533 2.365 801 16.138 19.698 5.086 - 170 4.829 443 MP

Ticker Symbol ACES AMRT ERAA HERO LPPF MAPA MAPI MPPA RALS RANC Base Value Requirement
WA Sales Growth/Quartal 3,5% 2,5% 3,6% -0,8% 0,8% 4,8% 3,3% -3,7% -0,2% 1,4% 4,8% 1,5%
WA Asset Growth/Quartal 3,7% 2,3% 1,5% -1,7% 0,7% 4,1% 2,4% -3,3% 1,4% 6,7% 6,7% 2,4%
WA Net Profit Margin 12,6% 0,8% 1,5% -0,5% 16,4% 7,8% 3,7% -4,2% 9,0% 1,8% 16,4% 4,9%
WA Return on Asset 20,0% 5,6% 6,9% -2,4% 46,5% 24,8% 10,8% -8,1% 10,5% 1,1% 46,5% 7,7%
WA Return on Equity 22,2% 12,6% 10,3% -2,9% 60,6% 20,5% 12,0% -47,9% 15,7% 8,4% 60,6% 12,4%
WA Debt to Equity 0,2 4,4 1,3 0,5 0,3 0,6 1,5 3,2 0,4 0,7 0,2 1,5
WA EPS Growth 14,1% 56,6% 23,2% -138,6% 0,9% 64,1% 138,3% -655,5% 17,7% 29,9% 138,3% 5,0%
Gross Value 494 180 249 - 44 441 477 362 - 680 274 290
Gross Rank 1 8 7 9 3 2 4 10 6 5
Requirements Fulfilled ✓ ✗ ✗ ✗ ✗ ✓ ✗ ✗ ✗ ✗
Gross Performance
1st Rank ACES
2nd Rank MAPA
3rd Rank -

Average Sales Growth/Quartal 3,0% 2,2% -1,3% -1,4% 0,1% 4,5% 3,3% -5,1% -0,6% 0,4% 4,5% 0,5%
Average Asset Growth/Quartal 2,7% 2,0% -6,4% -0,9% -1,0% 2,8% 2,5% -5,6% 1,9% 1,3% 2,8% 0,6%
Average Net Profit Margin 12,5% 1,3% 0,8% 0,1% 13,8% 9,8% 5,1% -5,0% 12,4% 2,1% 13,8% 5,3%
WA Return on Asset 20,0% 6,8% 4,7% -2,4% 40,1% 25,0% 13,6% -6,1% 12,2% 0,3% 40,1% 11,4%
WA Return on Equity 22,0% 23,9% 5,6% 0,7% 90,0% 24,4% 15,5% -65,8% 18,7% 9,5% 90,0% 15,0%
34 | P a g e
EPS Growth 6,2% 70,4% -63,4% 105,7% 29,6% 96,2% 43,0% 38,5% 10,4% 11,0% 105,7% 5,0%
Gross Value 534 254 - 192 145 382 589 400 - 351 344 208
Gross Rank 2 6 9 8 4 1 3 10 5 7
Requirements Fulfilled ✓ ✗ ✗ ✗ ✗ ✓ ✗ ✗ ✗ ✗
Gross Performance
1st Rank MAPA
2nd Rank ACES
3rd Rank -

Quartal Sales Growth/Year -8,3% 4,2% -1,9% -27,7% -57,5% -40,1% -34,0% -22,9% -57,0% 29,1% 29,1% -21,6%
Net Profit Margin 9,6% 1,2% 1,4% -4,9% -18,5% -3,5% -6,6% -6,5% -5,0% 2,9% 9,6% -1,3%
Return on Asset 11,5% 2,1% 7,1% -11,2% -10,1% -2,4% -3,3% -5,8% -5,7% 6,1% 11,5% -1,2%
Return on Equity 14,4% 12,6% 8,2% -14,3% -103,7% -5,3% -14,0% -223,5% -3,4% 16,2% 16,2% 1,8%
Debt to Equity 0,4 2,6 0,8 0,9 8,4 1,0 1,9 22,4 0,3 1,3 0,3 1,5
EPS Growth -32,7% -22,8% 35,0% -740,8% -160,1% -121,9% -177,1% 19,8% -119,6% 58,3% 58,3% -57,9%
Gross Value 403 185 302 - 1.494 - 1.318 - 316 - 496 - 1.531 - 347 500
Gross Rank 2 4 3 9 8 5 7 10 6 1
Requirements Fulfilled ✓ ✗ ✓ ✗ ✗ ✗ ✗ ✗ ✗ ✓
Gross Performance
1st Rank RANC
2nd Rank ACES
3rd Rank ERAA
35 | P a g e
TELECOMMUNICATION
Stock Information
Ticker Symbol EXCL FREN ISAT TLKM 99,9% 21/3/2021
Data Input - Closed Price 2210 81 6650 3440 Recommendation
PBV Ratio 1,1 1,9 2,7 2,9 2,2
P/E Ratio 8,6 - 8,7 - 67,4 11,1 20,0
PEGY Ratio (5Y WA) - 0,2 - 0,5 - 3,0 0,9 1,0
External Auditor Big 4 - Big 4 Big 4 Big 4
Dividend Yield (5Y WA) 0,0% 0,0% 0,5% 4,2% 0,2%
Dividend Payout Ratio (5Y WA) 0,0% 0,0% 0,9% 51,1% 0,3%
Firm Size 31,9 31,2 31,8 33,1 31,6
Market Share (2019) 13,0% 3,6% 13,5% 69,9% 10,0%

Ticker Symbol EXCL FREN ISAT TLKM Recommendation
Projected Annual EPS Growth -173,0% -23,1% -152,3% 16,4% -83,0%
Expected Rate of Return -155,7% -31,2% -132,1% 17,7% 15,0%
Intrinsic Value - 67 7 - 13 4.410 MP
Margin of Safety in Percentage 0,0% 0,0% 0,0% 28,2% 2,0%
Future Value (5Y) - 118 13 - 23 7.771 MP

Ticker Symbol EXCL FREN ISAT TLKM Base Value Requirement
WA Sales Growth/Quartal 0,9% 5,1% 0,0% 1,6% 5,1% 1,9%
WA Asset Growth/Quartal 0,6% 1,9% 1,5% 1,9% 1,9% 1,5%
WA Net Profit Margin -0,2% -51,4% -1,0% 23,6% 23,6% 7,5%
WA Return on Asset 2,8% -9,3% 4,5% 21,0% 21,0% 4,7%
WA Return on Equity -0,8% -32,1% -0,5% 27,0% 27,0% 8,6%
WA Current Liquidity 0,4 0,3 0,5 1,0 1,0 0,4
WA Debt to Equity 2,0 2,0 3,0 0,8 0,8 2,0
WA EPS Growth -42,7% 16,3% 21,7% 7,7% 21,7% 5,0%
Gross Value - 50 - 28 239 664
Gross Rank 4 3 2 1
Requirements Fulfilled ✗ ✗ ✗ ✗
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal 2,3% 6,2% 3,1% 0,9% 6,2% 3,1%
Average Asset Growth/Quartal 2,1% 2,3% 4,3% 1,8% 4,3% 2,1%
Average Net Profit Margin 2,2% -32,4% -0,6% 22,4% 22,4% 8,0%
WA Return on Asset 5,1% -9,1% 4,5% 20,2% 20,2% 5,2%
WA Return on Equity 3,3% -17,4% 1,9% 25,8% 25,8% 3,4%
Average Current Liquidity 0,4 0,3 0,5 0,9 0,9 0,5
Average Debt to Equity 2,2 1,2 3,7 0,9 0,9 2,0
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EPS Growth 121,6% 51,7% 178,2% 2,3% 178,2% 5,0%
Gross Value 301 47 329 557
Gross Rank 3 4 2 1
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year 5,0% 37,5% 9,2% -2,6% 37,5% 3,9%
Net Profit Margin 10,6% -25,6% -2,0% 23,0% 23,0% 1,5%
Return on Asset 8,4% -3,9% 44,4% 18,9% 44,4% 16,9%
Return on Equity 13,3% -21,3% -4,0% 26,0% 26,0% 3,5%
Current Liquidity 0,3 0,2 0,5 0,6 0,6 0,4
Debt to Equity 2,3 2,3 3,7 1,0 1,0 1,8
EPS Growth 287,6% 7,6% -132,9% 10,9% 287,6% -38,1%
Gross Value 327 - 14 131 439
Gross Rank 2 4 3 1
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -
37 | P a g e
TOLL ROAD, AIRPORT, HARBOR & ALLIED PRODUCTS
Stock Information
Ticker Symbol CASS CMNP IPCC JSMR KARW META 98,9% 21/3/2021
Data Input - Closed Price 348 2.020 630 4.480 66 160 Recommendation
PBV Ratio 1,4 0,9 1,1 1,3 - 0,1 0,7 2,0
P/E Ratio 93,8 17,2 - 26,2 - 111,0 17,3 7,2 20,0
PEGY Ratio (5Y WA) - 2,4 8,0 6,5 - 12,8 - 0,1 0,4 1,0
External Auditor Big 4 Big 10 Big 4 Big 4 Big 4 Big 4 Big 4
Firm Size 28,0 30,3 28,2 32,3 26,4 29,4 29,1
Market Share (2019) 6,3% 10,2% 1,5% 76,2% 0,1% 4,5% 4,5%

Ticker Symbol CASS CMNP IPCC JSMR KARW META Recommendation
Projected Annual EPS Growth -365,0% 18,1% 11,4% 12,1% -153,3% 12,1% -19,9%
Expected Rate of Return 40,0% 11,2% 27,2% 18,8% -58,1% 1,3% 15,0%
Intrinsic Value 1.061 1.950 1.191 6.028 0 97 MP
Future Value (5Y) 1.870 3.437 2.099 10.623 1 170 MP

Ticker Symbol CASS CMNP IPCC JSMR KARW META Base Value Requirement
WA Sales Growth/Quartal 1,6% 4,1% 1,9% 3,7% -1,9% 7,2% 7,2% 2,8%
WA Asset Growth/Quartal 0,5% 5,5% 13,2% 5,5% -2,0% 0,6% 13,2% 2,0%
WA Net Profit Margin 12,5% 22,4% 35,1% 8,1% -4,6% 31,9% 35,1% 17,6%
WA Return on Equity 29,6% 11,6% 18,3% 10,6% -0,1% 8,4% 29,6% 9,8%
WA Debt to Equity 1,3 0,8 0,2 2,9 - 1,9 0,7 - 1,9 1,5
WA EPS Growth -41,8% 2,2% -13,7% 7,4% -119,2% 16,6% 16,6% -5,8%
Gross Value 66 334 436 232 - 655 438
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal -0,1% -2,0% 0,1% -8,1% -15,1% 19,1% 19,1% -5,1%
Average Asset Growth/Quartal -5,4% 4,2% 0,2% 4,9% -5,3% 4,2% 4,9% 0,5%
Average Net Profit Margin 8,7% 19,4% 34,6% 7,3% 2,9% 27,6% 34,6% 16,8%
Average Debt to Equity 1,4 1,0 0,1 3,2 - 1,7 0,5 - 1,7 1,5
38 | P a g e
EPS Growth -102,3% -5,6% -20,5% 1,8% -173,8% -5,4% 1,8% -51,0%
Gross Value - 5.401 20 - 706 263 - 9.543 135
Requirements Fulfilled ✗ ✓ ✗ ✗ ✗ ✗
Gross Performance
1st Rank CMNP
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -42,1% -29,3% -30,7% -50,1% 23,8% 22,0% 23,8% -17,7%
Net Profit Margin 0,6% 18,8% -13,1% -2,1% 3,4% 6,4% 18,8% 2,1%
Return on Asset 1,1% 5,1% -0,8% 3,9% 0,6% 2,4% 5,1% 2,1%
Return on Equity 1,5% 5,1% -4,2% -1,2% -0,4% 3,3% 5,1% 0,7%
Debt to Equity 1,9 0,8 0,8 3,3 - 1,6 0,8 - 1,6 1,5
EPS Growth 272,8% -38,4% -132,3% -114,1% 128,9% -37,8% 272,8% 5,0%
Gross Value 24 248 - 196 - 201 270 303
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -
39 | P a g e
WHOLESALE (DURABLE & NON DURABLE GOODS)
Stock Information
Ticker Symbol AKRA BOGA CLPI EPMT HEXA MPMX SDPC TGKA TURI UNTR 74,2% 21/3/2021
Data Input - Closed Price 3.380 1.405 870 2.160 3.510 540 131 7.800 1.395 21.875 Recommendation
PBV Ratio 1,3 12,4 0,6 0,9 1,3 0,4 0,7 4,8 2,0 1,3 2,0
P/E Ratio 14,9 1.196,6 7,9 10,0 14,0 262,7 33,7 14,9 45,5 11,8 20,0
PEGY Ratio (5Y WA) - 12,6 363,5 1,3 2,4 0,2 8,1 - 2,2 0,6 2,5 0,3 1,0
External Auditor Big 4 - Big 4 Big 4 Big 4 Big 4 - Big 4 Big 4 Big 4 Big 4
Firm Size 30,5 27,1 27,2 29,8 28,9 29,8 27,8 28,9 29,4 32,3 29,2
Market Share (2019) 9,5% 0,3% 0,4% 9,7% 3,0% 1,7% 1,2% 5,8% 5,7% 36,9% 4,1%

Ticker Symbol AKRA BOGA CLPI EPMT HEXA MPMX SDPC TGKA TURI UNTR Recommendation
Projected Annual EPS Growth 8,3% -0,9% 4,5% 11,3% 21,5% 43,5% 24,9% 23,5% 13,2% 9,6% 15,9%
Expected Rate of Return 7,5% -9,4% 10,0% 12,5% 50,9% 18,6% -0,1% 17,5% 13,4% 23,9% 15,0%
Intrinsic Value 2.754 488 794 2.212 15.594 718 74 9.919 1.483 36.257 MP
Future Value (5Y) 4.854 860 1.400 3.898 27.481 1.265 130 17.481 2.614 63.897 MP

Ticker Symbol AKRA BOGA CLPI EPMT HEXA MPMX SDPC TGKA TURI UNTR Base Value Requirement
WA Sales Growth/Quartal 1,0% 5,9% 1,7% 1,5% 5,2% -10,3% 3,1% 2,5% 0,7% 3,3% 5,9% 2,8%
WA Asset Growth/Quartal 2,2% 4,5% 1,6% 1,7% 0,5% -1,5% 4,0% 0,6% 2,1% 3,5% 4,5% 1,9%
WA Debt to Equity 1,0 0,3 0,4 0,5 1,6 0,9 4,1 1,8 0,7 0,8 0,3 1,5
WA EPS Growth -6,2% 3,3% -1,5% 2,6% 58,0% -2,7% -16,8% 24,6% 16,2% 30,1% 58,0% 5,0%
Gross Value 285 427 375 357 608 - 10 214 385 333 552
Gross Rank 8 3 5 6 1 10 9 4 7 2
Requirements Fulfilled ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✓
Gross Performance
1st Rank UNTR
2nd Rank -
3rd Rank -

Average Sales Growth/Quartal -2,0% 3,4% 1,1% 1,9% 1,4% -30,1% 3,5% 0,8% -0,8% -0,1% 3,5% 1,0%
Average Asset Growth/Quartal 1,8% 0,3% -0,6% 1,1% -3,1% -3,0% 0,8% -3,7% 1,0% -1,0% 1,8% -0,6%
40 | P a g e
EPS Growth 5,5% -15,9% 14,6% -11,1% 17,5% 57,1% -59,5% 34,5% 3,9% -3,2% 57,1% 5,0%
Gross Value 256 256 305 390 316 - 715 124 236 294 301
Gross Rank 7 6 3 1 2 10 9 8 5 4
Gross Performance
1st Rank -
2nd Rank -
3rd Rank -

Quartal Sales Growth/Year -8,3% -36,1% -6,1% 2,4% -68,1% -32,4% -3,8% -5,2% -38,4% -29,2% 2,4% -22,5%
Net Profit Margin 4,9% 1,0% 4,4% 2,6% 11,1% 0,1% 0,2% 3,7% 2,1% 11,2% 11,2% 2,4%
Return on Asset 6,7% 0,9% 9,1% 7,9% 6,0% 1,8% 5,3% 16,1% 3,1% 9,0% 16,1% 6,6%
Return on Equity 8,9% 1,0% 7,0% 9,2% 9,5% 0,1% 2,1% 32,3% 4,3% 10,8% 32,3% 5,9%
Debt to Equity 0,8 0,3 0,4 0,4 0,6 0,4 3,9 1,4 0,4 0,6 0,3 1,5
EPS Growth 30,6% -54,6% -7,1% 0,5% -66,5% -87,5% -37,2% 12,2% -70,6% -37,9% 30,6% -31,8%
Gross Value - 4 - 1.551 34 397 - 2.766 - 1.495 - 201 180 - 1.655 - 1.016
Gross Rank 4 8 3 1 10 7 5 2 9 6
Requirements Fulfilled ✓ ✗ ✓ ✓ ✗ ✗ ✗ ✓ ✗ ✗
Gross Performance
1st Rank EPMT
2nd Rank TGKA
3rd Rank CLPI
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Notes to Fundamental Analysis
General Guidance
Color representation:
- Green = Good (Meet requirement or recommendation)
- Yellow = Moderate
- Red = Bad (Does not meet requirement or recommendation)
Ticker Symbol: Represents analyzed companies for each industry.
WA: Weighted Average.
Stock Information
Percentage Between Ticker Symbol and Date
Percentage between ticker symbol and date represents total market shares of the analyzed
companies. Market shares above 50% can be considered as representative of the related
industry. The companies were selected based on the considerations of market liquidity, market
capitalization, financial data availability, and initial public offering date.
Data Input – Closed Price

Stated numbers represent the stock prices on the specified date of each analyzed companies.
PBV Ratio
PBV (Price to Book Value) ratio is the comparison between market price and the book price of
companies’ stock. Book value represents the reported value of net assets/equities in the
company’s statement of financial position.
PBV ratio amounted to 1 can be interpreted that the market price is the same with the book
value. PBV ratio between 0 - 1 is considered as undervalue, while PBV ratio below 0 can be
interpreted as total liabilities are bigger than total assets.
PBV ratio is considered good if the value is positive, and the same or below the number stated
on the recommendation section, which is determined based on the higher of 2 or the average
of companies’ PBV on the related industry excluding outlier.
P/E Ratio
P/E (Price to Earnings) ratio is the comparison between market price and the earnings per share
(EPS) of companies’ stock. Earnings per share shows the amount of possible earnings to be
distributed to one outstanding share in a form of dividend with regard to the company’s net
income.
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P/E ratio amounted to 1 can be interpreted that the invested money will give 100% return in
the upcoming year. P/E ratio below zero shows that the related company incurred net loss.
P/E ratio is considered good if the value is positive, and the same or below the number stated
on the recommendation section, which is determined based on the higher of 20 or the average
of companies’ P/E ratio on the related industry excluding outlier. P/E ratio amounted to 20 are
based on the consideration of Indonesia’s inflation rate and bank deposit interest rate.
PEGY Ratio
PEGY (Price/Earnings to Growth and dividend Yield) ratio shows P/E ratio in comparison with
company’s expected future growth and dividend yield. This ratio is based on the assumption
that higher P/E ratio may not essentially considered as overvalue, but on the other hand, it
may be caused by the appreciation of the company’s good performance and future growth
expectation with regard to the dividend which assumed to reduce the company’s growth.
PEGY ratio is calculated based on weighted average EPS growth and weighted average dividend
yield within last five years in comparison with P/E ratio on the current stated date.
PEGY ratio amounted between 0 to 1 suggest that the related stock is undervalue and has high
earnings potential or dividend yields. While a negative PEGY ratio shows either a negative EPS
growth, or negative P/E ratio.
External Auditor
External Auditor affects the audited financial statement quality used in performing the
fundamental analyses. A good external Auditor assumed to give appropriate audit opinion and
free of material misstatement audited financial report.
A good external Auditor are represented by Big Four accounting firms, which referring to the
four largest professional services accounting networks in the world. The following is the list of
Big Four accounting firms:
- PricewaterhouseCoopers
- Ernst & Young
- Deloitte
- KPMG
A moderate external Auditor are represented by Big Ten accounting firms, which referring to
the six largest professional services accounting networks outside the initial Big Four accounting
firms, comprising of:
- RSM
- Grant Thornton
- CBIZ
- BDO
- Crowe Horwath
- BKD
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Dividend Yield
Dividend yield expresses the percentage amount of expected dividend relative to the current
stated market closed price. Expected dividend is calculated based on the last five years
weighted average dividend per share.
Dividend yield is considered good if the percentage amount is equal or above the amount on
the recommendation section, which is represented by the average of dividend yield (5Y WA)
excluding outlier.
Dividend Payout Ratio

Dividend payout ratio shows the total amount of dividend paid to shareholders relative to the
net income of the company. Dividend payout ratio are calculated based on the last five years
weighted average dividend history.
Dividend payout ratio is considered good if the percentage amount is equal or above the
amount on the recommendation section, which is represented by the average of dividend
payout ratio (5Y WA) excluding outlier.
Firm Size
Firm size is calculated based on the total assets of the companies. A higher firm size value
assumed to affect the ability of the company in gaining loan, as well as the company’s ability
in penetrating the market.
Firm size is considered good if the value is above the amount on the recommendation section,
which is represented by the average of firm size excluding outlier.
Market Share
Market share is the annual sales percentage of a company relative to the total annual sales on
the related industry. Market share depicts the company’s competitiveness, and the company’s
ability in penetrating the market.
Market share is considered good if the percentage amount is above the amount on the
recommendation section, which is represented by the average of market share (20XX)
excluding outlier.
Stock Valuation
Projected Annual EPS Growth
Projected annual EPS growth shows the expected annual EPS growth by taking last five years
weighted average ROE (Return on Equity) and dividend payout ratio into account.
44 | P a g e
Projected annual EPS growth is considered good if the percentage amount is above the amount
on the recommendation section, which is represented by the average of projected annual EPS
growth excluding outlier.
Expected Rate of Return

Expected rate of return shows the annual expected return in percentage by estimating
projected EPS, P/E ratio, and future dividend.
Expected rate of return is considered good if the percentage amount is equal or above 15%.
On the other hand, expected rate of return is considered moderate if the percentage amount
equal to 12% or between 12% to 15%. Expected rate of return below 12% is considered as a
bad rate of return.
Intrinsic Value
Intrinsic value represents the fair value or actual worth of the related stock. A company’s stock
with intrinsic value below closed price or market price can be interpreted that the stock is
overvalue, otherwise, if the intrinsic value above closed price or market price, it can be
interpreted that the stock price is undervalue and may result in potential capital gain.
Margin of Safety in Percentage

Margin of safety is the difference between the intrinsic value of a stock against the market
closed price. Margin of safety shows the percentage amount of possible capital gain before the
related stock reach its intrinsic value.
Margin of safety is considered good if the percentage amount equal or above 2% (tolerable
rate) with the assumption that the stock is purchased at the same or below its intrinsic value.
Future Value
Future value shows the expected stock price in the next upcoming five years. Future value is
calculated based on the expected rate of return with the assumption that the expected rate of
return remains constant within the next five years.
Future value is considered good if the stated value above the current stated market closed
price.
Fundamental Analysis
Sales Growth
Sales growth shows the increase of sales in percentage within stated period. A positive
percentage of sales growth suggests that the company succeed in penetrating new market and
able to compete with other related companies in achieving growth. On the other hand, a
45 | P a g e
negative sales growth suggests that the company is having some difficulties in maintaining its
sales, and may enter the decline stage of business cycle.
Sales growth is considered good if the stated percentage amount is the same or higher than
the requirement, which is represented by the average of sales growth data excluding outliers.
Asset Growth
Asset growth shows the increase of asset in percentage within stated period. A positive asset
growth percentage suggests that the company is having growth in term of firm size.
Asset growth is considered good if the stated percentage amount is the same or higher than
the requirement, which is represented by the average of asset growth data excluding outliers.
Net Profit Margin

Net profit margin shows the net amount of profit or company’s income, calculated from the
company’s total revenue deducted by the total corresponding period expenses. Net profit
margin represents the amount which can be retained and used by the company, as well as
distributed to the shareholders.
Net profit margin is considered good if the stated percentage amount is the same or higher
than the requirement, which is represented by the average of net profit margin percentage
excluding outliers.
Return on Asset
Return on asset shows how much profit a company achieved or generated from its assets.
Return on assets give an idea about how well a company utilized its assets in generating
income.
Return on asset is considered good if the stated percentage amount is the same or higher than
the requirement, which is represented by the average of return on asset percentage excluding
outliers.
Return on Equity
Return on equity shows how much profit a company achieved or generated from its equity.
Return on equity give an idea about how good the company in generating returns on the
investment received from its shareholders.
Return on equity is considered good if the stated percentage amount is the same or higher
than the requirement, which is represented by the average of return on equity percentage
excluding outliers.
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Current Liquidity
Current liquidity is used to measures the company’s ability to pay its short-term debt. Current
liquidity gives the idea about the company’s health and how well it manages its debt.
Current liquidity is considered good if the stated value is the same or lower than the
requirement, which is represented by the lower of 1.2 and average of current liquidity
excluding outliers.
Debt to Equity
Debt to equity measures the degree of how much borrowed money did the company’s take in
order to finance or purchase its assets.
Debt to equity is considered good if the stated value is the same or lower than the requirement,
which is represented by the maximum of 1.5 and average of debt to equity excluding outliers.
EPS Growth
EPS growth shows the increase of EPS in percentage within stated period. A positive EPS growth
depicts the increase of net profit relative to the previous year profit. A higher EPS growth rate
indicates higher expected future EPS that positively affect the intrinsic value of the stock.
EPS growth is considered good if the stated value is the same or bigger than the requirement,
which is represented by the minimum of 5% and average of EPS growth excluding outliers.
Gross Value and Gross Rank

Gross value is the measurement of stock, relative to the other stock by comparing specified
ratios value, such as sales growth, asset increases, net profit margin, and others. The
measurement system of each ratio depends on its base value. Gross rank shows the brief
summary base on the gross value result, with rank 1 as the highest gross value and rank 10 as
the lowest gross value.
Requirement Fulfilled
Requirement fulfilled will be met if all analyzed ratios meet the requirements. The idea behind
requirement fulfilled is to give a certain assurance about stocks that fundamentally healthy in
their corresponding industry. The needs of requirement fulfilled is also appear as an effort to
avoid misleading information taken from stated gross rank which may be caused by imbalance
ratios measurement. This imbalance ratios measurement includes a high gross value that
achieved through high single or several ratios measurement, but lack in other crucial ratios
which at the end significantly affect the opinion of the company’s performance.
Gross Performance
Gross performance shows selected stock based on its gross rank with all requirements fulfilled.
47 | P a g e
Limitation
1. The analyses conducted in this paper are sectorized through specified industries.
Companies in the same industry were compared to one another as the basis of companies’
fundamental assessment. Certain attention needs to be taken as some companies have
completed different products and business sector from other companies in the same
industry, which may lead to the incompatibility for comparing purposes.
2. Some companies were analyses with less than 5 years financial data as a response of
recent initial public offering date.
3. Analyzed companies may not represent the whole public companies or population listed
in the related industry. The samples were selected based on the considerations of market
liquidity, market capitalization, financial data availability, and initial public offering date.
4. This paper is intended to predict the most likely scenario, as well as to measure the
companies’ performance based on the available previous data. Certain attention needs to
be taken as other factors outside of this paper might significantly affect the future
performance of the companies.
5. Gross value system implemented on this paper uses a same weighting for each ratio.
Certain ratio may be proved more important comparing with others in determining the
overall performance of the companies.
48 | P a g e
Contact Information
For any inquiry, suggestion, and recommendation, please contact me at:

Rohan.email07@gmail.com
49 | P a g e

Fundamental Analysis: Sunday - March 21, 2021

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FUNDAMENTAL

Analyzed by Rohan, S.Ak., CAP., CRA

Author Note ............................................................................................................................... 1

ADVERTISING, PRINTING & MEDIA

External Auditor Big 4 - - Big 10 Big 10 - - - - Big 4 Big 4

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)

1st Rank MNCN

Fundamental Analysis - Last Year (2019)

1st Rank MNCN

2nd Rank JTPE

Fundamental Analysis - Last Quartal (Q3-2020)

1st Rank MNCN

Stock Valuation (2019 | Next 5Y Projection)

Intrinsic Value 7.582 1.738 691 589 17 18 1.747 50 20 2.300 MP

Future Value (5Y) 13.361 3.063 1.218 1.037 30 31 3.079 88 35 4.053 MP

Fundamental Analysis - Last 5 Years (2015-2019)

1st Rank SMSM

2nd Rank ASII

Fundamental Analysis - Last Year (2019)

Fundamental Analysis - Last Quartal (Q3-2020)

Gross Value 167 - 136 - 192 - 1.101 - 43 - 364 83 249 - 92 46

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)

1st Rank BBCA

2nd Rank BBRI

3rd Rank BMRI

Fundamental Analysis - Last Year (2019)

1st Rank BBCA

2nd Rank BMRI

Fundamental Analysis - Last Quartal (Q3-2020)

Gross Value 493 - 1.197 29 41 70 166 173 328 - 398 30

1st Rank BBCA

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)

Fundamental Analysis - Last Year (2019)

Fundamental Analysis - Last Quartal (Q3-2020)

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)

Fundamental Analysis - Last Year (2019)

Fundamental Analysis - Last Quartal (Q3-2020)

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)

1st Rank PTBA

Fundamental Analysis - Last Year (2019)

1st Rank PTBA

2nd Rank MYOH

3rd Rank MBAP

Fundamental Analysis - Last Quartal (Q3-2020)

Gross Value - 57 201 - 254 251 - 1.633 - 81 313 - 23 82 - 90

1st Rank MBAP

2nd Rank BSSR

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)

Fundamental Analysis - Last Year (2019)

Fundamental Analysis - Last Quartal (Q3-2020)

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)

Fundamental Analysis - Last Year (2019)

Fundamental Analysis - Last Quartal (Q3-2020)

Stock Valuation (2019 | Next 5Y Projection)

Fundamental Analysis - Last 5 Years (2015-2019)