Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp1,215, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 11x in the Food industry in Indonesia. Total loss to shareholders of 18% over the past three years. Declared Dividend • May 07
Dividend increased to Rp83.99 Dividend of Rp83.99 is 78% higher than last year. Ex-date: 12th May 2026 Payment date: 4th June 2026 Dividend yield will be 5.9%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but not adequately covered by cash flows (95% cash payout ratio). The dividend has increased by an average of 9.2% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Annuncio • May 07
PT Sawit Sumbermas Sarana Tbk. announces Annual dividend, payable on June 04, 2026 PT Sawit Sumbermas Sarana Tbk. announced Annual dividend of IDR 83.9900 per share payable on June 04, 2026, ex-date on May 12, 2026 and record date on May 13, 2026. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp33,400 (vs Rp35.86 in 1Q 2025) First quarter 2026 results: EPS: Rp33,400. Revenue: Rp3.52t (down 3.8% from 1Q 2025). Net income: Rp318.1b (down 6.9% from 1Q 2025). Profit margin: 9.0% (down from 9.3% in 1Q 2025). The decrease in margin was driven by lower revenue. Reported Earnings • Apr 03
Full year 2025 earnings released: EPS: Rp122 (vs Rp86.04 in FY 2024) Full year 2025 results: EPS: Rp122 (up from Rp86.04 in FY 2024). Revenue: Rp15t (up 41% from FY 2024). Net income: Rp1.16t (up 42% from FY 2024). Profit margin: 7.8% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Annuncio • Mar 18
PT Sawit Sumbermas Sarana Tbk., Annual General Meeting, Apr 30, 2026 PT Sawit Sumbermas Sarana Tbk., Annual General Meeting, Apr 30, 2026. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp1,270, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 13x in the Food industry in Indonesia. Total loss to shareholders of 17% over the past three years. New Risk • Feb 28
New major risk - Revenue and earnings growth Earnings have declined by 6.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Earnings have declined by 6.0% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp1,820, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Food industry in Indonesia. Total returns to shareholders of 24% over the past three years. Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: Rp32.54 (vs Rp23.82 in 3Q 2024) Third quarter 2025 results: EPS: Rp32.54 (up from Rp23.82 in 3Q 2024). Revenue: Rp3.82t (up 71% from 3Q 2024). Net income: Rp309.9b (up 37% from 3Q 2024). Profit margin: 8.1% (down from 10% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.4% p.a. on average during the next 3 years, while revenues in the Food industry in Indonesia are expected to grow by 7.1%. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Price Target Changed • Oct 14
Price target increased by 35% to Rp2,350 Up from Rp1,735, the current price target is an average from 4 analysts. New target price is 44% above last closing price of Rp1,635. Stock is up 47% over the past year. The company is forecast to post earnings per share of Rp171 for next year compared to Rp86.04 last year. Annuncio • Apr 24
PT Sawit Sumbermas Sarana Tbk. Announces Annual Dividend, Payable on May 21, 2025 PT Sawit Sumbermas Sarana Tbk. announced Annual dividend of IDR 47.2400 per share payable on May 21, 2025, ex-date on April 30, 2025 and record date on May 02, 2025. Annuncio • Mar 13
PT Sawit Sumbermas Sarana Tbk., Annual General Meeting, Apr 21, 2025 PT Sawit Sumbermas Sarana Tbk., Annual General Meeting, Apr 21, 2025. Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: Rp23.82 (vs Rp28.91 in 3Q 2023) Third quarter 2024 results: EPS: Rp23.82 (down from Rp28.91 in 3Q 2023). Revenue: Rp2.23t (up 43% from 3Q 2023). Net income: Rp226.9b (down 18% from 3Q 2023). Profit margin: 10% (down from 18% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: Rp11.07 (vs Rp0.44 loss in 2Q 2023) Second quarter 2024 results: EPS: Rp11.07 (up from Rp0.44 loss in 2Q 2023). Revenue: Rp2.63t (up 64% from 2Q 2023). Net income: Rp105.5b (up Rp109.7b from 2Q 2023). Profit margin: 4.0% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp1,070, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Food industry in Indonesia. Total returns to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp1,170, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Food industry in Indonesia. Total returns to shareholders of 67% over the past three years. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: Rp29.07 (vs Rp25.41 in 1Q 2023) First quarter 2024 results: EPS: Rp29.07 (up from Rp25.41 in 1Q 2023). Revenue: Rp2.52t (up 100% from 1Q 2023). Net income: Rp276.9b (up 14% from 1Q 2023). Profit margin: 11% (down from 19% in 1Q 2023). Revenue is expected to decline by 38% p.a. on average during the next 2 years, while revenues in the Food industry in Indonesia are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Apr 29
Now 23% overvalued Over the last 90 days, the stock has fallen 7.1% to Rp1,105. The fair value is estimated to be Rp896, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has declined by 4.5%. Revenue is forecast to decline by 45% in 2 years. Earnings are forecast to grow by 109% in the next 2 years. Reported Earnings • Apr 07
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: Rp53.78 (down from Rp193 in FY 2022). Revenue: Rp11t (down 4.8% from FY 2022). Net income: Rp512.3b (down 72% from FY 2022). Profit margin: 4.8% (down from 16% in FY 2022). Revenue exceeded analyst estimates by 97%. Earnings per share (EPS) missed analyst estimates by 31%. Revenue is expected to decline by 32% p.a. on average during the next 2 years, while revenues in the Food industry in Indonesia are expected to grow by 7.3%. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jan 24
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 6.5% to Rp1,235. The fair value is estimated to be Rp985, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to decline by 21% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp1,160, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Food industry in Indonesia. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp985 per share. New Risk • Nov 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Dividend is not well covered by cash flows (125% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (12% net profit margin). Major Estimate Revision • Jul 26
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from Rp153 to Rp130 per share. Revenue forecast steady at Rp5.60b. Net income forecast to grow 13% next year vs 20% growth forecast for Food industry in Indonesia. Consensus price target down from Rp1,735 to Rp1,608. Share price fell 3.6% to Rp1,205 over the past week. Buying Opportunity • Jun 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be Rp1,628, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.9% in a year. Earnings is forecast to grow by 117% in the next year. Buying Opportunity • May 30
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be Rp1,628, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.9% in a year. Earnings is forecast to grow by 117% in the next year. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp1,310, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Food industry in Indonesia. Total returns to shareholders of 91% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,628 per share. Reported Earnings • Apr 06
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: Rp193 (up from Rp159 in FY 2021). Revenue: Rp7.26t (up 40% from FY 2021). Net income: Rp1.84t (up 21% from FY 2021). Profit margin: 25% (down from 29% in FY 2021). Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is expected to decline by 9.9% p.a. on average during the next 2 years, while revenues in the Food industry in Indonesia are expected to grow by 8.2%. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Independent Commissioner Ito Warsito was the last independent director to join the board, commencing their role in 2018. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Sep 13
Price target decreased to Rp1,920 Down from Rp2,100, the current price target is an average from 2 analysts. New target price is 44% above last closing price of Rp1,330. Stock is up 61% over the past year. The company is forecast to post earnings per share of Rp333 for next year compared to Rp159 last year. Reported Earnings • Jul 06
First quarter 2022 earnings released First quarter 2022 results: Revenue: Rp2.18t (up 100% from 1Q 2021). Net income: Rp989.7b (up 468% from 1Q 2021). Profit margin: 45% (up from 16% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 44%, compared to a 16% growth forecast for the industry in Indonesia. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improved over the past week After last week's 16% share price gain to Rp1,260, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Food industry in Indonesia. Total returns to shareholders of 28% over the past three years. Major Estimate Revision • May 13
Consensus revenue estimates increase by 27% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from Rp7.38b to Rp9.36b. EPS estimate increased from Rp216 to Rp384 per share. Net income forecast to grow 141% next year vs 18% growth forecast for Food industry in Indonesia. Consensus price target down from Rp2,100 to Rp2,000. Share price fell 2.3% to Rp1,040 over the past week. Price Target Changed • Apr 27
Price target increased to Rp2,100 Up from Rp1,550, the current price target is provided by 1 analyst. New target price is 94% above last closing price of Rp1,080. Stock is up 21% over the past year. The company is forecast to post earnings per share of Rp216 for next year compared to Rp159 last year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Independent Commissioner Ito Warsito was the last independent director to join the board, commencing their role in 2018. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 08
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: Rp159 (up from Rp60.54 in FY 2020). Revenue: Rp5.20t (up 30% from FY 2020). Net income: Rp1.52t (up 163% from FY 2020). Profit margin: 29% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 7.7%. Over the next year, revenue is forecast to grow 42%, compared to a 15% growth forecast for the industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorated over the past week After last week's 16% share price decline to Rp1,095, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Food industry in Indonesia. Total loss to shareholders of 6.1% over the past three years. Price Target Changed • Nov 25
Price target increased to Rp2,000 Up from Rp1,550, the current price target is an average from 2 analysts. New target price is 54% above last closing price of Rp1,300. Stock is up 77% over the past year. The company is forecast to post earnings per share of Rp148 for next year compared to Rp60.54 last year. Major Estimate Revision • Nov 25
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from Rp5.00b to Rp5.89b. EPS estimate unchanged from Rp148 at last update. Food industry in Indonesia expected to see average net income growth of 5.4% next year. Consensus price target up from Rp1,240 to Rp1,600. Share price rose 10% to Rp1,300 over the past week. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 20% share price gain to Rp975, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Food industry in Indonesia. Total loss to shareholders of 20% over the past three years. Major Estimate Revision • Apr 10
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from Rp4.31b to Rp4.77b. EPS estimate unchanged from Rp79.00 at last update. Food industry in Indonesia expected to see average net income growth of 27% next year. Consensus price target up from Rp1,475 to Rp1,700. Share price was steady at Rp970 over the past week. Reported Earnings • Apr 07
Full year 2020 earnings released: EPS Rp60.54 (vs Rp1.23 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: Rp4.01t (up 22% from FY 2019). Net income: Rp576.6b (up Rp565.0b from FY 2019). Profit margin: 14% (up from 0.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to Rp885, the stock is trading at a trailing P/E ratio of 30.3x, down from the previous P/E ratio of 36.1x. This compares to an average P/E of 26x in the Food industry in Indonesia. Total return to shareholders over the past three years is a loss of 39%. Is New 90 Day High Low • Jan 04
New 90-day high: Rp1,285 The company is up 61% from its price of Rp800 on 07 October 2020. The Indonesian market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp132 per share. Is New 90 Day High Low • Dec 18
New 90-day high: Rp1,065 The company is up 29% from its price of Rp825 on 18 September 2020. The Indonesian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 19% share price gain to Rp1,065, the stock is trading at a trailing P/E ratio of 36.5x, up from the previous P/E ratio of 30.7x. This compares to an average P/E of 26x in the Food industry in Indonesia. Total return to shareholders over the past three years is a loss of 24%. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 31% share price gain to Rp915, the stock is trading at a trailing P/E ratio of 31.3x, up from the previous P/E ratio of 24x. This compares to an average P/E of 25x in the Food industry in Indonesia. Total return to shareholders over the past three years is a loss of 35%. Is New 90 Day High Low • Nov 10
New 90-day high: Rp875 The company is up 5.0% from its price of Rp835 on 12 August 2020. The Indonesian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is flat over the same period. Reported Earnings • Nov 02
Third quarter 2020 earnings released: EPS Rp17.26 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: Rp968.9b (up 4.9% from 3Q 2019). Net income: Rp164.4b (up Rp150.7b from 3Q 2019). Profit margin: 17% (up from 1.5% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 87% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.