PT Delta Djakarta Tbk (DLTA.JK)

Industry: Beverages - Alcoholic Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
SDBL.BO	35	Som Distilleries &	159	22.74	22.74	13.97	13.97	21.13	17.09
GDA.AX	36	Good Drinks Austra	144	-	-	4.65	3.69	6.27	19.26
MCL.AX	37	Mighty Craft Limit	98	-	-	4.18	4.18	-	-
600573.SS	38	FuJian YanJing Hui	86	34.04	27.75	15.86	13.66	7.27	16.63
WBR.TO	39	Waterloo Brewing L	76	151.60	190.97	14.70	12.68	51.47	53.41
000752.SZ	40	Tibet Development	63	19.94	19.94	6.25	6.25	2.24	6.35
JAGAJITIND.BO	41	Jagatjit Industrie	51	-	-	91.49	107.28	-	-
DLTA.JK	42	PT Delta Djakarta	39	11.27	11.65	4.58	4.43	5.91	6.69
000929.SZ	43	Lanzhou Huanghe En	35	-	-	-	-	-	-
600238.SS	44	HaiNan Yedao (Grou	26	-	-	-	-	364.71	-
GAGS.VI	45	Gurktaler AG	9	6.23	6.23	-	-	12.47	-
IPST	46	Heritage Distillin	8	1.05	1.05	0.83	0.83	-	-
IBG	47	Innovation Beverag	5	-	-	-	-	-	-
ALEFRM.CO	48	Alefarm Brewing A/	3	-	-	-	-	-	-
SBEV-WT	49	Splash Beverage Gr	1	-	-	-	-	-	-
HYTN.CN	50	HYTN Innovations I	1	-	-	-	-	-	-

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	13.08	13.08	5.45	5.22	7.27	16.86
Full Range Median Multiple	21.34	21.34	10.11	9.46	12.47	17.09
Industry Multiple	39.27	44.78	18.99	20.32	66.51	22.55
Market Implied Multiple	11.58	11.98	4.77	4.61	6.16	6.98
Company (DLTA.JK) Multiple	11.27	11.65	4.58	4.43	5.91	6.69
(*) Net Income / EBITDA / Revenue	8	8	13	14	10	9
Winsorized Enterprise Value	N/A	N/A	73	72	76	155
Full Range Median Enterprise Value	N/A	N/A	136	132	130	157
(-) Net Debt	-34	-34	-34	-34	-34	-34
Winsorized Equity Value	111	107	107	106	110	189
Full Range Median Equity Value	181	175	170	165	164	191
(/) Shares Outstanding	0	0	0	0	0	0
Winsorized Fair Value	$2,315.99	$2,239.51	$2,240.94	$2,224.77	$2,291.34	$3,950.47
Full Range Median Fair Value	$3,777.62	$3,652.86	$3,550.42	$3,459.52	$3,422.80	$3,995.54
Current Price	$2,050.00	$2,050.00	$2,050.00	$2,050.00	$2,050.00	$2,050.00
Upside / Downside	12.98%	9.24%	9.31%	8.53%	11.77%	92.71%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$1,621.20	$1,567.65	$1,568.66	$1,557.34	$1,603.94	$2,765.33
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	BUY