Financial Analysis Center

Green Flags

• There were 2 names of substantial holders buying
• Top 2 buyers were: ['Gafur Sulistyo Umar', 'PT. Fersindo Nusa Jaya']
• Total bought value in the last 6 months: IDR 14.3 billion
• Foreign holders had been net buying 6 months out of the last 6 months time period

Red Flags

• Within 6 months timeframe: total Sold value compared to average transaction value is 2.4x --> shareholder selling detected, if continues then potential for stock overhang
• There were: 2x monthly occurence of increase in public holding --> selling activity
• Net public holding change within the past 6 months: +8.66%
• In the last 6 months: out of 54,967 million shares sold: 0 million shares came from Foreign holders

Green Flags

Red Flags

• Multiple quarters of (-) Net Income
• Top line decreased by -80.2% in latest Q2 '25 quarter
• Current EBITDA -5.5 B insufficient to cover current Interest Exp -0.7 B
• Total EBITDA -75.5 B insufficient to cover Total Interest Exp -4.9 B in the last 7 quarters
• Negative Turnaround detected: 6 months Net Profit last year become Net Loss this year which fell -1,470.0%

Green Flags

• Decreasing DER for 4 consecutive quarters

Red Flags

• Annual avg shares o/s increase: 61.3%
• Shares o/s increased by 245.1% in the last 3 yrs
• Current Ratio < 1x --> weak balance sheet
• In the last 4 quarters: 1 occurence of Receivables growing 2.4x of Sales growth

Green Flags

Red Flags

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