New Risk • Jun 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 33% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (32% average weekly change). High level of non-cash earnings (33% accrual ratio). Buy Or Sell Opportunity • Jun 01
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 38% to €0.015. The fair value is estimated to be €0.022, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • May 13
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to €0.017. The fair value is estimated to be €0.022, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 12
Full year 2025 earnings released: EPS: US$0.001 (vs US$0 in FY 2024) Full year 2025 results: EPS: US$0.001 (up from US$0 in FY 2024). Revenue: US$288.8m (up 22% from FY 2024). Net income: US$36.3m (up 285% from FY 2024). Profit margin: 13% (up from 4.0% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has increased by 250% per year, which means it is tracking significantly ahead of earnings growth. お知らせ • Apr 28
PT J Resources Asia Pasifik Tbk, Annual General Meeting, Jun 03, 2026 PT J Resources Asia Pasifik Tbk, Annual General Meeting, Jun 03, 2026. お知らせ • Dec 29
An undisclosed buyer acquired 2.5% stake in PT J Resources Asia Pasifik Tbk (IDX:PSAB) from Jimmy Budiarto for IDR 83.3 billion. An undisclosed buyer acquired 2.5% stake in PT J Resources Asia Pasifik Tbk (IDX:PSAB) from Jimmy Budiarto for IDR 83.3 billion on December 23, 2025. A cash consideration valued at IDR 126 per share will be paid by the buyer. Following the transaction, Jimmy Budiarto holds a 23,814,000,000 shares representing a 90% stake in PT J Resources Asia Pasifik.
An undisclosed buyer completed the acquisition of 2.5% stake in PT J Resources Asia Pasifik Tbk (IDX:PSAB) from Jimmy Budiarto on December 23, 2025. Board Change • Nov 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. No independent directors (3 non-independent directors). Independent Commissioner Budikwanto Kuesar was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. お知らせ • May 12
PT J Resources Asia Pasifik Tbk, Annual General Meeting, Jun 19, 2025 PT J Resources Asia Pasifik Tbk, Annual General Meeting, Jun 19, 2025. Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: US$0 (vs US$0 in 3Q 2023) Third quarter 2024 results: EPS: US$0 (in line with 3Q 2023). Revenue: US$43.7m (up 23% from 3Q 2023). Net loss: US$5.62m (down 214% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 09
First quarter 2024 earnings released: EPS: US$0 (vs US$0.001 loss in 1Q 2023) First quarter 2024 results: EPS: US$0 (improved from US$0.001 loss in 1Q 2023). Revenue: US$62.8m (up 183% from 1Q 2023). Net income: US$2.24m (up US$17.2m from 1Q 2023). Profit margin: 3.6% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. お知らせ • May 26
PT J Resources Asia Pasifik Tbk, Annual General Meeting, Jun 28, 2024 PT J Resources Asia Pasifik Tbk, Annual General Meeting, Jun 28, 2024. New Risk • Jan 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 64% per year over the past 5 years. Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: US$0 (vs US$0 in 3Q 2022) Third quarter 2023 results: EPS: US$0 (in line with 3Q 2022). Revenue: US$35.5m (up 55% from 3Q 2022). Net income: US$4.92m (up US$5.47m from 3Q 2022). Profit margin: 14% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0 (vs US$0 in 2Q 2022) Second quarter 2023 results: EPS: US$0 (in line with 2Q 2022). Revenue: US$35.4m (up 40% from 2Q 2022). Net loss: US$3.34m (loss widened 18% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 45% per year whereas the company’s share price has fallen by 40% per year. Reported Earnings • May 14
First quarter 2023 earnings released: US$0.001 loss per share (vs US$0 in 1Q 2022) First quarter 2023 results: US$0.001 loss per share (further deteriorated from US$0 in 1Q 2022). Revenue: US$22.2m (down 23% from 1Q 2022). Net loss: US$15.0m (down US$15.7m from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 2 highly experienced directors. No independent directors (3 non-independent directors). Commissioner Christian Adinugroho Jap is the most experienced director on the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: US$0 (vs US$0 in 2Q 2021) Second quarter 2022 results: EPS: US$0 (vs US$0 in 2Q 2021). Revenue: US$25.2m (down 58% from 2Q 2021). Net loss: US$2.82m (loss narrowed 37% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 04
First quarter 2022 earnings released: EPS: US$0 (vs US$0 in 1Q 2021) First quarter 2022 results: EPS: US$0 (vs US$0 in 1Q 2021). Revenue: US$28.9m (down 68% from 1Q 2021). Net income: US$668.8k (up US$1.04m from 1Q 2021). Profit margin: 2.3% (up from net loss in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). Independent Commissioner M. Silalahi is the most experienced director on the board, commencing their role in 2011. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Jul 02
First quarter 2021 earnings released The company reported a mediocre first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$88.9m (up 44% from 1Q 2020). Net loss: US$373.8k (down 128% from profit in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance.