Financial Analysis Center

Green Flags

• Within 6 months timeframe: total Bought value compared to average transaction value is 4.4x --> heavy shareholder buying
• There were: 2x monthly occurence of decrease in public holding --> buying activity
• Net public holding change within the past 6 months: -0.08%
• In the last 6 months: out of 592 million shares bought: 4 million shares came from Foreign holders
• Foreign holders had been net buying 2 months out of the last 6 months time period

Red Flags

• Within 6 months timeframe: total Sold value compared to average transaction value is 1,128.5x --> heavy shareholder selling, beware of stock overhang!
• There were 2 names of substantial holders selling
• Top 2 sellers were: ['PT. Putera Mulia Indonesia', 'PT. Lippo General Insurance Tbk']
• Total sold value in the last 6 months: IDR -801.3 billion
• Foreign holders had been net selling 4 months out of the last 6 months time period

Green Flags

• Gross margin increasing combined with decreasing Operating Exp ratio at an average rate of 5.1% and 3.1% for 4 consecutive quarters
• Current EBITDA 260.1 B is sufficient to cover current Interest Exp 0.0 B
• Total EBITDA 1,549.7 B is sufficient to cover Total Interest Exp 0.0 B in the last 8 quarters
• 6 months Net Profit growing 45.0% compared to last year

Red Flags

Green Flags

Red Flags

• Increasing DER for 4 consecutive quarters
• Annual avg shares o/s increase: 10.7%
• Current Ratio < 1x --> weak balance sheet

Green Flags

Red Flags

• Negative Operating CF with positive Net Profit --> bad earnings quality