PT Total Bangun Persada Tbk (TOTL.JK)

Industry: Engineering & Construction 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
CNT.BK	382	Christiani & Niels	231	15.67	16.59	10.42	11.60	18.81	44.87
PPRE.JK	383	PT PP Presisi Tbk	230	5.01	4.77	2.76	2.35	3.45	4.30
OND.WA	384	Onde S.A.	229	28.62	28.62	14.33	14.33	9.46	17.21
000755.SZ	385	Shanxi Hi-speed Gr	225	14.93	14.93	14.97	12.74	12.70	17.93
WSI.AX	386	WestStar Industria	222	-	-	1.52	1.52	-	-
BRAN.TA	387	Baran Group Ltd	222	16.40	13.34	6.92	5.60	8.39	7.02
SITOWS.HE	388	Sitowise Group Oyj	220	-	-	13.32	13.32	95.48	206.47
TOTL.JK	389	PT Total Bangun Pe	218	7.58	6.00	4.18	3.36	5.50	3.93
1271.HK	390	Grand Ming Group H	216	448.83	1,168.94	31.00	31.69	-	25.46
5515.TW	391	Chien Kuo Construc	215	10.87	9.52	6.32	5.01	10.23	7.67
0153.HK	392	China Saite Group	213	1.53	1.78	0.83	0.92	0.88	0.99
605598.SS	393	Shanghai Geoharbou	210	97.53	97.53	67.43	67.43	104.26	72.39
3728.HK	394	Ching Lee Holdings	210	3.31	3.58	4.14	4.02	2.29	4.15
603778.SS	395	Guosheng Shian Tec	209	-	-	-	-	-	-
002482.SZ	396	Shenzhen Grandland	209	-	-	-	-	-	-
2503.HK	397	Zhongshen Jianye H	209	630.88	630.88	38.99	38.99	-	336.72

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	14.93	13.34	6.92	5.60	9.46	12.44
Full Range Median Multiple	15.67	14.93	10.42	11.60	9.84	17.57
Industry Multiple	115.78	180.95	16.38	16.12	26.59	62.10
Market Implied Multiple	9.32	7.38	5.80	4.65	7.63	5.44
Company (TOTL.JK) Multiple	7.58	6.00	4.18	3.36	5.50	3.93
(*) Net Income / EBITDA / Revenue	23	29	25	31	19	26
Winsorized Enterprise Value	N/A	N/A	170	171	176	325
Full Range Median Enterprise Value	N/A	N/A	255	355	184	459
(-) Net Debt	-69	-69	-69	-69	-69	-69
Winsorized Equity Value	339	383	239	241	246	395
Full Range Median Equity Value	356	428	325	424	253	529
(/) Shares Outstanding	0	0	0	0	0	0
Winsorized Fair Value	$1,665.58	$1,879.02	$1,174.31	$1,182.29	$1,207.22	$1,938.27
Full Range Median Fair Value	$1,747.69	$2,103.94	$1,595.59	$2,083.68	$1,242.61	$2,596.72
Current Price	$1,040.00	$1,040.00	$1,040.00	$1,040.00	$1,040.00	$1,040.00
Upside / Downside	60.15%	80.68%	12.91%	13.68%	16.08%	86.37%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$1,165.90	$1,315.32	$822.02	$827.60	$845.05	$1,356.79
Buy / Don't Buy	BUY	BUY	Don’t Buy	Don’t Buy	Don’t Buy	BUY