Financial Analysis Center

Green Flags

• Within 6 months timeframe: total Bought value compared to average transaction value is 4.5x --> heavy shareholder buying
• There were 4 names of substantial holders buying
• Top 3 buyers were: ['Andre Soelistyo', 'Treasury Shares', 'Melissa Siska Juminto']
• Total bought value in the last 6 months: IDR 752.8 billion
• Foreign holders had been net buying 1 months out of the last 6 months time period

Red Flags

• Within 6 months timeframe: total Sold value compared to average transaction value is 2.8x --> shareholder selling detected, if continues then potential for stock overhang
• There were 2 names of substantial holders selling
• Top 2 sellers were: ['Goto Peopleverse Fund', 'Government Of Singapore']
• Total sold value in the last 6 months: IDR -467.6 billion
• There were: 2x monthly occurence of increase in public holding --> selling activity
• Net public holding change within the past 6 months: +3.73%
• In the last 6 months: out of 4,254,338 million shares sold: 30,110 million shares came from Foreign holders
• Foreign holders had been net selling 5 months out of the last 6 months time period

Green Flags

• Current EBITDA 613.2 B is sufficient to cover current Interest Exp -188.7 B
• 6 months Net Loss decreasing -86.0% compared to last year

Red Flags

• Multiple quarters of (-) Net Income
• Significant Non-Operating Loss: -47.8% of Net Income in latest Q1 '26 quarter
• Total EBITDA 88.9 B insufficient to cover Total Interest Exp -1,088.5 B in the last 8 quarters

Green Flags

• Current Ratio: 2.6x with an avg of 2.7x over 8 quarters

Red Flags

• Increasing DER for 4 consecutive quarters
• In the last 4 quarters: 1 occurence of Receivables growing 5.0x of Sales growth

Green Flags

Red Flags

• Negative Net Profit with positive Operating CF --> check Noise and other Operating Losses