XL Axiata Tbk PT
IDX:EXCL

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XL Axiata Tbk PT
IDX:EXCL
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Price: 4 300 IDR 7.5%
Market Cap: 78.3T IDR

Relative Value

The Relative Value of one EXCL stock under the Base Case scenario is 8 316.31 IDR. Compared to the current market price of 4 300 IDR, XL Axiata Tbk PT is Undervalued by 48%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

EXCL Relative Value
Base Case
8 316.31 IDR
Undervaluation 48%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
0
vs Industry
64
Median 3Y
0.9
Median 5Y
0.9
Industry
1.5
Forward
1.7
vs History
vs Industry
31
Median 3Y
18.5
Median 5Y
18.7
Industry
16.8
Forward
-62.3
vs History
0
vs Industry
69
Median 3Y
1.8
Median 5Y
1.9
Industry
6.6
vs History
14
vs Industry
44
Median 3Y
5.1
Median 5Y
5.1
Industry
15.6
vs History
0
vs Industry
57
Median 3Y
1.1
Median 5Y
1.2
Industry
2.1
vs History
0
vs Industry
46
Median 3Y
2
Median 5Y
2
Industry
2.1
Forward
2.8
vs History
0
vs Industry
67
Median 3Y
2.3
Median 5Y
2.3
Industry
4
vs History
4
vs Industry
22
Median 3Y
14.5
Median 5Y
15.9
Industry
8.1
Forward
6.1
vs History
4
vs Industry
35
Median 3Y
14.5
Median 5Y
15.9
Industry
13
Forward
43.8
vs History
0
vs Industry
64
Median 3Y
3.9
Median 5Y
4
Industry
8.7
vs History
14
vs Industry
47
Median 3Y
10.3
Median 5Y
10.8
Industry
15.7
vs History
0
vs Industry
55
Median 3Y
0.9
Median 5Y
0.9
Industry
1.2

Multiples Across Competitors

EXCL Competitors Multiples
XL Axiata Tbk PT Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
ID
XL Axiata Tbk PT
IDX:EXCL
73.6T IDR 1.9 -35 86.2 86.2
ZA
MTN Group Ltd
JSE:MTN
323.6B Zac 0 0 0 0
ZA
Vodacom Group Ltd
JSE:VOD
280.1B Zac 0 0 0 0
US
T-Mobile US Inc
NASDAQ:TMUS
221.4B USD 2.6 18.6 9.3 15.4
CN
China Mobile Ltd
SSE:600941
1.4T CNY 1.3 9.5 9.4 9.4
JP
SoftBank Group Corp
TSE:9984
24.5T JPY 3.3 8 22.5 53
IN
Bharti Airtel Ltd
NSE:BHARTIARTL
11.8T INR 6.1 30.6 11.8 21.8
JP
SoftBank Corp
TSE:9434
10.2T JPY 1.5 18.9 8.5 15.1
JP
KDDI Corp
TSE:9433
10.2T JPY 1.7 14.3 6.7 11
MX
America Movil SAB de CV
BMV:AMXB
1.1T MXN 1.2 16.4 4.5 8.7
UK
Vodafone Group PLC
LSE:VOD
25.9B GBP 0.8 -6.8 174.6 621.8
P/S Multiple
Revenue Growth P/S to Growth
ID
XL Axiata Tbk PT
IDX:EXCL
Average P/S: 2.2
1.9
12%
0.2
ZA
M
MTN Group Ltd
JSE:MTN
Not Available
15%
N/A
ZA
V
Vodacom Group Ltd
JSE:VOD
Not Available
9%
N/A
US
T-Mobile US Inc
NASDAQ:TMUS
2.6
7%
0.4
CN
China Mobile Ltd
SSE:600941
1.3
3%
0.4
JP
SoftBank Group Corp
TSE:9984
3.3
6%
0.5
IN
Bharti Airtel Ltd
NSE:BHARTIARTL
6.1
16%
0.4
JP
SoftBank Corp
TSE:9434
1.5
5%
0.3
JP
KDDI Corp
TSE:9433
1.7
4%
0.4
MX
America Movil SAB de CV
BMV:AMXB
1.2
6%
0.2
UK
Vodafone Group PLC
LSE:VOD
0.8
5%
0.2
P/E Multiple
Earnings Growth PEG
ID
XL Axiata Tbk PT
IDX:EXCL
Average P/E: 16.6
Negative Multiple: -35
19%
N/A
ZA
M
MTN Group Ltd
JSE:MTN
Not Available N/A N/A
ZA
V
Vodacom Group Ltd
JSE:VOD
Not Available
19%
N/A
US
T-Mobile US Inc
NASDAQ:TMUS
18.6
14%
1.3
CN
China Mobile Ltd
SSE:600941
9.5
5%
1.9
JP
SoftBank Group Corp
TSE:9984
8
-17%
N/A
IN
Bharti Airtel Ltd
NSE:BHARTIARTL
30.6
17%
1.8
JP
SoftBank Corp
TSE:9434
18.9
7%
2.7
JP
KDDI Corp
TSE:9433
14.3
11%
1.3
MX
America Movil SAB de CV
BMV:AMXB
16.4
-34%
N/A
UK
Vodafone Group PLC
LSE:VOD
Negative Multiple: -6.8 N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
ID
XL Axiata Tbk PT
IDX:EXCL
Average EV/EBITDA: 37.1
86.2
65%
1.3
ZA
M
MTN Group Ltd
JSE:MTN
Not Available
23%
N/A
ZA
V
Vodacom Group Ltd
JSE:VOD
Not Available
11%
N/A
US
T-Mobile US Inc
NASDAQ:TMUS
9.3
10%
0.9
CN
China Mobile Ltd
SSE:600941
9.4
33%
0.3
JP
SoftBank Group Corp
TSE:9984
22.5
20%
1.1
IN
Bharti Airtel Ltd
NSE:BHARTIARTL
11.8
19%
0.6
JP
SoftBank Corp
TSE:9434
8.5
5%
1.7
JP
KDDI Corp
TSE:9433
6.7
4%
1.7
MX
America Movil SAB de CV
BMV:AMXB
4.5
7%
0.6
UK
Vodafone Group PLC
LSE:VOD
174.6
-5%
N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
ID
XL Axiata Tbk PT
IDX:EXCL
Average EV/EBIT: 93.6
86.2
15%
5.7
ZA
M
MTN Group Ltd
JSE:MTN
Not Available
37%
N/A
ZA
V
Vodacom Group Ltd
JSE:VOD
Not Available
15%
N/A
US
T-Mobile US Inc
NASDAQ:TMUS
15.4
11%
1.4
CN
China Mobile Ltd
SSE:600941
9.4
6%
1.6
JP
SoftBank Group Corp
TSE:9984
53
18%
2.9
IN
Bharti Airtel Ltd
NSE:BHARTIARTL
21.8
28%
0.8
JP
SoftBank Corp
TSE:9434
15.1
N/A N/A
JP
KDDI Corp
TSE:9433
11
N/A N/A
MX
America Movil SAB de CV
BMV:AMXB
8.7
8%
1.1
UK
Vodafone Group PLC
LSE:VOD
621.8
2%
310.9