Financial Analysis Center

Green Flags

• Foreign holders had been net buying 3 months out of the last 6 months time period

Red Flags

• There were 3 names of substantial holders selling
• Top 3 sellers were: ['Pinky Nk', 'Treasury Shares', 'Ragil Marzuki Sumarno']
• Total sold value in the last 6 months: IDR -11.9 billion
• There were: 1x monthly occurence of increase in public holding --> selling activity
• Net public holding change within the past 6 months: +0.03%
• In the last 6 months: out of 174 million shares sold: 86 million shares came from Foreign holders
• Foreign holders had been net selling 3 months out of the last 6 months time period

Green Flags

• Current EBITDA 65.9 B is sufficient to cover current Interest Exp -26.8 B
• Total EBITDA 615.3 B is sufficient to cover Total Interest Exp -233.9 B in the last 8 quarters

Red Flags

• Multiple quarters of (-) Net Income
• Significant Non-Operating Loss: -5.9% of Revenue in latest Q3 '25 quarter
• Significant Non-Operating Loss: -92.6% of Net Income in latest Q3 '25 quarter
• 6 months Net Profit falling -56.0% compared to last year

Green Flags

• Decreasing DER for 4 consecutive quarters

Red Flags

• Annual avg shares o/s increase: 8.7%
• Shares o/s increased by 43.4% in the last 3 yrs
• Current Ratio < 1x --> weak balance sheet

Green Flags

• Net Profit : Operating CF ratio > 0 --> positive Net Profit and positive Operating CF

Red Flags