Financial Ratios PT Gudang Garam Tbk

Equities

GGRM

ID1000068604

Tobacco

End-of-day quote INDONESIA S.E. Other stock markets 13/09/2024			5-day change	1st Jan Change
16,000.00 ^IDR	0.00%		-0.16%	-21.28%

07-31	PT Gudang Garam Tbk Reports Earnings Results for the Half Year Ended June 30, 2024	CI
04-30	PT Gudang Garam Tbk Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

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Published financial data: PT GUDANG GARAM TBK

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	110,524B	114,477B	124,881B	124,683B	118,953B
Total Revenues	110,524B	114,477B	124,881B	124,683B	118,953B
Cost of Goods Sold, Total	87,741B	97,089B	110,609B	113,587B	104,357B
Gross Profit	22,783B	17,388B	14,273B	11,096B	14,596B
Selling General & Admin Expenses, Total	7,947B	7,513B	7,092B	7,253B	7,271B
Other Operating Expenses	-257B	-209B	-164B	-75.68B	-110B
Other Operating Expenses, Total	7,690B	7,304B	6,928B	7,178B	7,162B
Operating Income	15,093B	10,085B	7,345B	3,918B	7,434B
Interest Expense, Total	-585B	-383B	-74.92B	-262B	-579B
Net Interest Expenses	-585B	-383B	-74.92B	-262B	-579B
Currency Exchange Gains (Loss)	-20.18B	-38.69B	16.72B	-9.17B	5.69B
EBT, Excl. Unusual Items	14,488B	9,663B	7,287B	3,647B	6,861B
EBT, Incl. Unusual Items	14,488B	9,663B	7,287B	3,647B	6,861B
Income Tax Expense	3,607B	2,015B	1,682B	867B	1,536B
Earnings From Continuing Operations	10,881B	7,648B	5,605B	2,780B	5,325B
Net Income to Company	10,881B	7,648B	5,605B	2,780B	5,325B
Minority Interest	-3M	-4M	-6M	-3M	-2M
Net Income - (IS)	10,881B	7,648B	5,605B	2,780B	5,325B
Net Income to Common Incl Extra Items	10,881B	7,648B	5,605B	2,780B	5,325B
Net Income to Common Excl. Extra Items	10,881B	7,648B	5,605B	2,780B	5,325B
Per Share Items
Net EPS - Basic	5.65K	3.97K	2.91K	1.44K	2.77K
Basic EPS - Continuing Operations	5.65K	3.97K	2.91K	1.44K	2.77K
Basic Weighted Average Shares Outstanding	1.92B	1.92B	1.92B	1.92B	1.92B
Net EPS - Diluted	5.65K	3.97K	2.91K	1.44K	2.77K
Diluted EPS - Continuing Operations	5.65K	3.97K	2.91K	1.44K	2.77K
Diluted Weighted Average Shares Outstanding	1.92B	1.92B	1.92B	1.92B	1.92B
Normalized Basic EPS	4.71K	3.14K	2.37K	1.18K	2.23K
Normalized Diluted EPS	4.71K	3.14K	2.37K	1.18K	2.23K
Dividend Per Share	-	2.6K	2.25K	1.2K	-
Payout Ratio	45.98	-	89.25	155.74	43.36
American Depositary Receipts Ratio (ADR)	4	4	4	4	4
Supplemental Items
EBITDA	17,623B	12,810B	10,242B	6,891B	10,535B
EBITA	15,093B	10,085B	7,345B	3,918B	7,434B
EBIT	15,093B	10,085B	7,345B	3,918B	7,434B
Effective Tax Rate - (Ratio)	24.9	20.86	23.08	23.77	22.39
Current Domestic Taxes	3,541B	2,009B	1,570B	1,213B	1,787B
Total Current Taxes	3,541B	2,009B	1,570B	1,213B	1,787B
Deferred Domestic Taxes	65.84B	6.52B	112B	-346B	-251B
Total Deferred Taxes	65.84B	6.52B	112B	-346B	-251B
Normalized Net Income	9,055B	6,039B	4,554B	2,279B	4,288B
Non-Cash Pension Expense	122B	126B	-297B	-233B	83.25B
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3,572B	4,774B	4,170B	4,407B	4,256B
Short Term Investments	115B	40B	75B	80B	5B
Total Cash And Short Term Investments	3,687B	4,814B	4,245B	4,487B	4,261B
Accounts Receivable, Total	1,876B	2,556B	2,774B	2,181B	1,952B
Total Receivables	1,876B	2,556B	2,774B	2,181B	1,952B
Inventory	43,019B	40,016B	47,607B	47,740B	46,612B
Prepaid Expenses	271B	367B	211B	200B	239B
Other Current Assets, Total	3,228B	1,784B	4,476B	837B	1,051B
Total Current Assets	52,081B	49,538B	59,313B	55,445B	54,115B
Gross Property Plant And Equipment	45,485B	50,337B	55,070B	60,435B	55,579B
Accumulated Depreciation	-20,111B	-22,659B	-25,246B	-27,938B	-30,939B
Net Property Plant And Equipment	25,374B	27,678B	29,824B	32,498B	24,640B
Other Intangibles, Total	-	-	-	-	13,008B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	144B	142B	123B	119B	182B
Other Long-Term Assets, Total	1,049B	833B	705B	501B	505B
Total Assets	78,647B	78,191B	89,964B	88,563B	92,451B
Liabilities
Accounts Payable, Total	1,297B	1,124B	1,002B	1,309B	1,065B
Accrued Expenses, Total	5,325B	9,188B	16,234B	16,449B	12,180B
Short-term Borrowings	17,216B	6,009B	9,948B	10,048B	13,396B
Current Portion of Long-Term Debt	20B	20B	32B	23.08B	-
Current Income Taxes Payable	442B	167B	496B	509B	288B
Other Current Liabilities	958B	503B	656B	787B	2,608B
Total Current Liabilities	25,259B	17,010B	28,369B	29,125B	29,536B
Long-Term Debt	177B	157B	123B	65.38B	-
Pension & Other Post Retirement Benefits	1,766B	1,996B	1,539B	1,188B	1,323B
Deferred Tax Liability Non Current	515B	506B	645B	328B	138B
Other Non Current Liabilities	-	-	-	-	590B
Total Liabilities	27,717B	19,669B	30,676B	30,707B	31,588B
Common Stock, Total	962B	962B	962B	962B	962B
Additional Paid In Capital	53.7B	53.7B	53.7B	53.7B	53.7B
Retained Earnings	49,948B	57,540B	58,306B	56,874B	59,880B
Comprehensive Income and Other	-33.38B	-33.38B	-33.38B	-33.38B	-33.38B
Total Common Equity	50,931B	58,522B	59,288B	57,856B	60,863B
Minority Interest	55M	60M	66M	69M	71M
Total Equity	50,931B	58,522B	59,288B	57,856B	60,863B
Total Liabilities And Equity	78,647B	78,191B	89,964B	88,563B	92,451B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.92B	1.92B	1.92B	1.92B	1.92B
ECS Total Common Shares Outstanding	1.92B	1.92B	1.92B	1.92B	1.92B
Book Value / Share	26.47K	30.42K	30.81K	30.07K	31.63K
Tangible Book Value	50,931B	58,522B	59,288B	57,856B	47,855B
Tangible Book Value Per Share	26.47K	30.42K	30.81K	30.07K	24.87K
Total Debt	17,413B	6,186B	10,103B	10,136B	13,396B
Net Debt	13,726B	1,372B	5,858B	5,649B	9,135B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1,766B	1,996B	1,539B	1,188B	1,323B
Minority Interest, Total (Incl. Fin. Div)	55M	60M	66M	69M	71M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	28,121B	24,298B	28,969B	27,413B	30,928B
Inventories - Work In Process, Total	481B	589B	567B	362B	407B
Inventories - Finished Goods, Total	8,228B	8,723B	8,733B	12,081B	7,908B
Inventories - Others	6,017B	6,285B	9,188B	7,783B	7,242B
Land - (BS)	3,475B	4,110B	4,324B	4,538B	3,934B
Buildings, Total	7,556B	7,847B	8,335B	9,070B	9,640B
Machinery, Total	31,818B	33,706B	35,706B	37,564B	40,077B
Full Time Employees	32.49K	30.94K	33.65K	31.56K	28.34K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	10,881B	7,648B	5,605B	2,780B	5,325B
Depreciation & Amortization - CF	2,530B	2,726B	2,897B	2,973B	3,101B
Depreciation & Amortization, Total	2,530B	2,726B	2,897B	2,973B	3,101B
Other Operating Activities, Total	-2,236B	7,104B	-3,177B	4,116B	-4,017B
Cash from Operations	11,174B	17,478B	5,325B	9,868B	4,409B
Capital Expenditure	-4,987B	-5,351B	-4,935B	-5,424B	-5,698B
Sale of Property, Plant, and Equipment	243B	228B	125B	79.02B	116B
Investment in Marketable and Equity Securities, Total	25.16B	75.42B	-35B	-5B	75B
Cash from Investing	-4,718B	-5,048B	-4,844B	-5,350B	-5,508B
Short Term Debt Issued, Total	17,650B	9,500B	10,150B	13,500B	17,050B
Long-Term Debt Issued, Total	200B	-	-	-	-
Total Debt Issued	17,850B	9,500B	10,150B	13,500B	17,050B
Short Term Debt Repaid, Total	-17,450B	-20,600B	-6,600B	-13,700B	-13,650B
Long-Term Debt Repaid, Total	-3.33B	-20B	-22B	-66.2B	-88.46B
Total Debt Repaid	-17,453B	-20,620B	-6,622B	-13,766B	-13,738B
Common Dividends Paid	-5,003B	-	-5,003B	-4,329B	-2,309B
Common & Preferred Stock Dividends Paid	-5,003B	-	-5,003B	-4,329B	-2,309B
Other Financing Activities, Total	-	1M	-	-	-
Cash from Financing	-4,606B	-11,120B	-1,475B	-4,595B	1,003B
Foreign Exchange Rate Adjustments	-6.74B	151M	-13M	14.9B	-2.87B
Net Change in Cash	1,843B	1,310B	-994B	-62.38B	-98.58B
Supplemental Items
Cash Interest Paid	569B	492B	67.7B	242B	535B
Cash Income Tax Paid (Refund)	3,205B	2,252B	1,224B	1,179B	2,032B
Levered Free Cash Flow	4,667B	10,066B	-430B	4,608B	-122B
Unlevered Free Cash Flow	5,033B	10,306B	-383B	4,772B	240B
Change In Net Working Capital	1,943B	-6,629B	2,936B	-4,775B	1,809B
Net Debt Issued / Repaid	397B	-11,120B	3,528B	-266B	3,312B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	12.77	8.04	5.46	2.74	5.13
Return on Total Capital	14.42	9.47	6.85	3.56	6.53
Return On Equity %	22.65	13.97	9.52	4.75	8.97
Return on Common Equity	22.65	13.97	9.52	4.75	8.97
Margin Analysis
Gross Profit Margin %	20.61	15.19	11.43	8.9	12.27
SG&A Margin	7.19	6.56	5.68	5.82	6.11
EBITDA Margin %	15.94	11.19	8.2	5.53	8.86
EBITA Margin %	13.66	8.81	5.88	3.14	6.25
EBIT Margin %	13.66	8.81	5.88	3.14	6.25
Income From Continuing Operations Margin %	9.84	6.68	4.49	2.23	4.48
Net Income Margin %	9.84	6.68	4.49	2.23	4.48
Net Avail. For Common Margin %	9.84	6.68	4.49	2.23	4.48
Normalized Net Income Margin	8.19	5.28	3.65	1.83	3.6
Levered Free Cash Flow Margin	4.22	8.79	-0.34	3.7	-0.1
Unlevered Free Cash Flow Margin	4.55	9	-0.31	3.83	0.2
Asset Turnover
Asset Turnover	1.5	1.46	1.49	1.4	1.31
Fixed Assets Turnover	4.59	4.32	4.34	4	4.16
Receivables Turnover (Average Receivables)	61.37	51.66	46.86	50.32	57.56
Inventory Turnover (Average Inventory)	2.15	2.34	2.52	2.38	2.21
Short Term Liquidity
Current Ratio	2.06	2.91	2.09	1.9	1.83
Quick Ratio	0.22	0.43	0.25	0.23	0.21
Operating Cash Flow to Current Liabilities	0.44	1.03	0.19	0.34	0.15
Days Sales Outstanding (Average Receivables)	5.95	7.08	7.79	7.25	6.34
Days Outstanding Inventory (Average Inventory)	169.97	156.51	144.57	153.19	165
Average Days Payable Outstanding	4.81	4.71	3.28	3.71	4.2
Cash Conversion Cycle (Average Days)	171.1	158.89	149.08	156.74	167.15
Long Term Solvency
Total Debt/Equity	34.19	10.57	17.04	17.52	22.01
Total Debt / Total Capital	25.48	9.56	14.56	14.91	18.04
LT Debt/Equity	0.35	0.27	0.21	0.11	-
Long-Term Debt / Total Capital	0.26	0.24	0.18	0.1	-
Total Liabilities / Total Assets	35.24	25.15	34.1	34.67	34.17
EBIT / Interest Expense	25.78	26.35	98.04	14.93	12.84
EBITDA / Interest Expense	30.11	33.47	136.7	26.26	18.2
(EBITDA - Capex) / Interest Expense	21.59	19.49	70.84	5.59	8.36
Total Debt / EBITDA	0.99	0.48	0.99	1.47	1.27
Net Debt / EBITDA	0.78	0.11	0.57	0.82	0.87
Total Debt / (EBITDA - Capex)	1.38	0.83	1.9	6.91	2.77
Net Debt / (EBITDA - Capex)	1.09	0.18	1.1	3.85	1.89
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.48	3.58	9.09	-0.16	-4.6
Gross Profit, 1 Yr. Growth %	22.2	-23.68	-17.92	-22.26	31.54
EBITDA, 1 Yr. Growth %	31.64	-27.31	-20.05	-32.72	52.89
EBITA, 1 Yr. Growth %	35.71	-33.19	-27.17	-46.66	89.73
EBIT, 1 Yr. Growth %	35.71	-33.19	-27.17	-46.66	89.73
Earnings From Cont. Operations, 1 Yr. Growth %	39.62	-29.71	-26.71	-50.41	91.55
Net Income, 1 Yr. Growth %	39.64	-29.71	-26.71	-50.41	91.55
Normalized Net Income, 1 Yr. Growth %	38.28	-33.3	-24.59	-49.96	88.15
Diluted EPS Before Extra, 1 Yr. Growth %	39.64	-29.71	-26.71	-50.41	91.55
Accounts Receivable, 1 Yr. Growth %	8.69	36.26	8.52	-21.36	-10.52
Inventory, 1 Yr. Growth %	11.17	-6.98	18.97	0.28	-2.36
Net Property, Plant and Equip., 1 Yr. Growth %	11.49	9.08	7.75	8.96	-24.18
Total Assets, 1 Yr. Growth %	13.82	-0.58	15.06	-1.56	4.39
Tangible Book Value, 1 Yr. Growth %	12.85	14.91	1.31	-2.42	-17.29
Common Equity, 1 Yr. Growth %	12.85	14.91	1.31	-2.42	5.2
Cash From Operations, 1 Yr. Growth %