Financial Analysis Center

Green Flags

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

Red Flags

• Within 6 months timeframe: total Sold value compared to average transaction value is 7.8x --> heavy shareholder selling, beware of stock overhang!
• There were 3 names of substantial holders selling
• Top 3 sellers were: ['Ronny Kurniawan', 'Daniel Wardojo', 'PT. Dwitunggal Perkasa Mandiri']
• Total sold value in the last 6 months: IDR -32.8 billion
• There were: 3x monthly occurence of increase in public holding --> selling activity
• Net public holding change within the past 6 months: +2.29%
• In the last 6 months: out of 8,032 million shares sold: 18 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 172.3 B is sufficient to cover current Interest Exp -34.2 B
• Total EBITDA 1,765.8 B is sufficient to cover Total Interest Exp -208.5 B in the last 8 quarters

Red Flags

• Significant Non-Operating Loss: -7.6% of Revenue in latest Q1 '26 quarter
• Significant Non-Operating Loss: -259.7% of Net Income in latest Q1 '26 quarter
• 6 months Net Profit falling -63.0% compared to last year

Green Flags

• Current Ratio: 1.1x with an avg of 1.5x over 8 quarters

Red Flags

• Annual avg shares o/s increase: 4.2%
• Shares o/s increased by 21.5% in the last 3 yrs
• In the last 4 quarters: 1 occurence of Receivables growing 2.5x of Sales growth

Green Flags

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

Red Flags