SMRA Date : 28-03-12
Financial Performance (in billion Rp)
www.investdata.net
2011| 2010|
28-03-12 ....Q4 ....Q3 ....Q2 ....Q1|....Q4 ....Q3 ....Q2 ....Q1|
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
Sales 2.359 1.587 938 399 1.700 1.124 677 310
COGS 1.312 846 486 217 947 580 334 168
Gross Marg 1.047 740 451 181 753 543 343 142
GM (%) 44 46 48 45 44 48 50 45
Opr Profit 564 383 235 83| 398 290 176 77
OP (%) 23 24 25 20 23 25 26 24
Net Profit 392 258 155 58| 233 173 101 51
NP (%) 16 16 16 14 13 15 15 16
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
Stk Price 1.500 1.240 1.000 1.140 1.160| 1.090 1.100 850 830
Book Value 358 342 331 341| 311 323 295 280
PBV 4,18 3,46 2,92 3,44 3,40| 3,50 3,40 2,87 2,95
DER 2,29 2,19 2,11 1,91| 1,87 1,79 1,56 1,50
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
ROE (%) 15 14 13 10| 10 11 10 11
ROE (Qtr) 21 17 17 10 11 13 10 11
ROA (%) 4 4 4 3| 3 3 3 4
Opr prof/share 82 56 34 13| 58 45 26 12
EPS 57 37 22 9| 33 27 15 7
EPS (Qtr) 19 15 14 9| 8 11 7 7
EPS (Annu) 57 50 45 36| 33 36 30 31
PER 26,30 21,74 19,76 24,86 32,05| 32,09 30,55 28,27 26,16
PER (Qtr) 19,25 15,91 16,55 19,89 32,05| 31,08 24,72 28,35 26,16
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
COP (year) 18,26 15,10 13,31 16,41 22,31 18,78 18,21 16,33 17,22
CLOP(year) 28,25 25,08 23,30 26,48 34,85 28,80 27,79 25,17 25,93
CLOP(Qtr) 19,53 20,13 20,54 34,85 26,52 23,55 22,47 25,93
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
Sales Growth(%) 38 41 38 28
Op.Prof Growth(%) 41 31 33 7
Net.Prof/EPS Grow 67 49 52 14
PEG (<1) 0,32 0,40 0,47 2,28
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
Sales(Qtr) 772 648 539 399 576 446 367 310
COGS (Qtr) 465 359 269 217 367 245 166 168
Gross Marg(Qtr) 306 289 270 181 209 200 200 142
GM (%) 39 44 50 45 36 44 54 45
OP.PR (Qtr) 181 147 151 83 108 114 98 77
OP % 23 22 28 20 18 25 26 24
NET.PR (Qtr) 133 102 97 58 60 71 50 51
NP % 17 15 18 14 10 15 13 16
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
Asset 8.099 7.432 6.986 6.393| 6.139 5.788 5.124 4.511
Liability 5.634 5.102 4.742 4.194| 3.999 3.711 3.119 2.703
Equity 2.464 2.329 2.244 2.198| 2.139 2.076 2.004 1.808
Capitalis. 10.309 8.522 6.802 7.724 7.466| 7.491 7.056 5.759 5.342
Share(mil) 6.873 6.802 6.775 6.436 6.873 6.415 6.775 6.436
---------- ------ ====== ------ ------ ------ ====== ------ ------ ------
See ERROR and OMISSION- http://www.investdata.net/QQHSMRA.TXT
Property Sector:
Date: 28-03-12 FINANCIAL RATIO COMPARISON 2011
Sector: PROPERTY
Ranked by: Operating Profit Growth
www.investdata.net
|-- ---- ------- --- --- --- ---- ---- --- ---------- ===--------- ===------ --------- ----------- ----------- ----- ------ --------
| | | |(1) (2) (3)| (4) (5)|(6)| (7) | (10) | (8) | (9) |(11)(12)(13|(14)(15)(16| (17)| (18) | MARKET|
| | | SALES |GRS OPR NET| |ROA| ROE | PER | COP | CLOP |YoY GROWTH |Q4/Q3 GROWT| | LAST | CAP. |
|NO|STOC|bio Rp |MAR PRF PRF| PBV DER| | |*LAST*| | | | OPR NET| OPR NET| PEG |PRICE |bio Rp |
| | |mio USD| % % % | | | Q3 Q4|QUARTR|TDY Q4 Q3|TDY Q4 Q3|TDY Q4 Q3|SAL PRF PRF|SAL PRF PRF| | |mio Usd|
|-- ---- ------- === === === ==== ==== === === ---****** --- -- -- === -- -- === -- -- --- --- === --- --- === =====|======|=======|
| 1 LPCK 902| 43 33 28| 2,1| 1,4| 12| 27 31|53 4| 6| 4 5| 5| 4 4| 9| 8 8|123 168|294| 30 105|121| 0,02| 2.525| 1.757|
| 2 ASRI 1.381| 58 50 43| 3,9| 1,1| 10| 21 21|27 14|17| 13 12|15| 11 10|20| 16 14| 74 108|107| 12 30| 50| 0,17| 600| 10.717|
| 3 SMRA 2.359| 44 23 16| 4,1| 2,2| 4| 14 15|21 19|26| 21 19|18| 15 13|28| 25 23| 38 41| 67| 19 22| 30| 0,39| 1.500| 10.309|
|-- ---- ------- === === === ==== ==== === === --- ====== -- -- -- === -- -- === -- -- --- --- === --- --- === =====|======|=======|
1. GRS MRG: Gross Margin to Sales (in %)
2. OPR PRF: Operating Profit to Sales (in %)
3. NET PRF: Net Profit to Sales (in %)
4. PBV: Stock Price to Book value
5. DER: Debt Equity Ratio
6. ROA: Return On Asset (in %)
7. ROE: Return On Equity (in %)
QTR: ROE Quartely, using Most Recent Quarter's Net Profit
8. COP: Capitalisation to Operating Profit (in years)
9. CLOP: Capitalisation + Liability to Operating profit (in years)
10. PER: Price Earning Ratio
QTR: PER using Most Recent Quarter's Net Profit
11. Sales Growth in % (Year on Year comparison)
12. Operating Profit Growth in % (YOY comparison)
13. Net Profit Growth in % - (YOY comparison)
14. Sales Growth in % - (Most Recent Quarter comparison)
15. Operating Profit Growth in % - (MRQ comparison)
16. Net Profit Growth in % - (MRQ comparison)
17. PEG = PER / Net Profit Growth- http://www.investdata.net/QZB4PRO2.TXT
Note:
- Net Profit margin in Percent = Net profit / Sales
- NPM ASRI vs SMRA = 43% vs 16%
- Gross margin = 58% vs 44%
- Terlihat NPM ASRI sangat SUPER = 43% dibanding SMRA yg cuman 16%
- Jika harga jual property turun, ASRI akan bisa LEBIH bertahan dibanding SMRA karena BUMPER prosentase labanya tinggi...
- Sebaliknya jika harga jual property naik, maka Net profit growth SMRA akan naik lebih cepat karena angka NPM nya masih rendah dibanding ASRI...
- http://www.investdata.net/QZB4PRO2.TXT
Property sector yg kelimpahan rezeki dari Peraturan relokasi industry adalah SSIA dan LPCK ....
Tentunya Rezeki yg MELIMPAH ini TIDAK berlangsung terus, jadi Profit Growth yg SUPER akan kembali ke NORMAL...
Tapi Profit Growth yg SUPER akan memicu kenaikan harga yg EXTRIM, sampe harga berapa dia akan naik, tidak ada yg tahu ...
Ini sama dengan tegangan listrik 220 V, tapi kalo kita tekan tombol ON dan OFF secara tiba2 maka tegangan listrik akan naik tinggi dan menjebolkan alat listrik tsb.. Berapa tinggi tegangan akan
naik tentunya tergantung berapa GILA orang yg menekan tombol ON dan OFF tsb ....
Begitu juga dengan kenaikan harga saham dari emiten yg dapet berkah SUPER, bertambah gila Pelaku Pasarnya maka bertambah gila naiknya .... Jadi ini bukan case Fundamental SEMATA tapi
case IRASIONALITAS pasar, Buying Pressure dari Buyer yg OVER EXCITED dengan SUPER GOOD NEWS akan menimbulkan PRICE OVERSHOOTING JAUH diatas harga WAJAR.. Berapa tinggi Overshootingnya ? ... Nobody knows ....
Kesimpulan: OPTIMIS saja tapi pasang Trailing Stop ...
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