In today’s briefing:
- Sido Muncul (SIDO): Past Is Not Indicative of Future
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Sido Muncul (SIDO): Past Is Not Indicative of Future
- Sido Muncul (SIDO IJ) performance during COVID was stellar and posted record high revenues and earnings without sacrificing margins.
- FY 22’s result was the first time in many years that both revenue and net income decelerated.
- Current valuations at 19x PER and 7x PBR are not cheap, historically or relative to their peers.