View ValuationBukitm (Persero) 将来の成長Future 基準チェック /06Bukitm (Persero)利益と収益がそれぞれ年間4.1%と6.2%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に15.8% 4.1%なると予測されています。主要情報4.1%収益成長率4.09%EPS成長率Oil and Gas 収益成長23.7%収益成長率6.2%将来の株主資本利益率15.80%アナリストカバレッジGood最終更新日08 Jun 2026今後の成長に関する最新情報Major Estimate Revision • Jun 09Consensus EPS estimates increase by 10%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from Rp286 to Rp316. Revenue forecast steady at Rp46.1b. Net income forecast to grow 12% next year vs 48% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp2,849 to Rp2,949. Share price fell 4.3% to Rp2,640 over the past week.Price Target Changed • Apr 18Price target increased by 8.7% to Rp2,766Up from Rp2,545, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of Rp2,900. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of Rp317 for next year compared to Rp254 last year.Major Estimate Revision • Mar 05Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from Rp192 to Rp171. Revenue forecast unchanged from Rp42.0b at last update. Net income forecast to shrink 12% next year vs 10% growth forecast for Oil and Gas industry in Indonesia . Consensus price target up from Rp2,182 to Rp2,408. Share price rose 14% to Rp2,970 over the past week.Price Target Changed • Mar 04Price target increased by 10% to Rp2,408Up from Rp2,182, the current price target is an average from 12 analysts. New target price is 16% below last closing price of Rp2,860. Stock is up 11% over the past year. The company is forecast to post earnings per share of Rp171 for next year compared to Rp444 last year.Major Estimate Revision • Nov 27Consensus EPS estimates fall by 48%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from Rp41.8b to Rp40.9b. EPS estimate also fell from Rp285 per share to Rp148 per share. Net income forecast to shrink 19% next year vs 13% growth forecast for Oil and Gas industry in Indonesia . Consensus price target broadly unchanged at Rp2,262. Share price was steady at Rp2,300 over the past week.Price Target Changed • Sep 24Price target increased by 8.0% to Rp2,636Up from Rp2,440, the current price target is an average from 12 analysts. New target price is 15% below last closing price of Rp3,100. Stock is up 10% over the past year. The company is forecast to post earnings per share of Rp394 for next year compared to Rp532 last year.すべての更新を表示Recent updatesMajor Estimate Revision • Jun 09Consensus EPS estimates increase by 10%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from Rp286 to Rp316. Revenue forecast steady at Rp46.1b. Net income forecast to grow 12% next year vs 48% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp2,849 to Rp2,949. Share price fell 4.3% to Rp2,640 over the past week.お知らせ • May 06PT Bukit Asam (Persero) Tbk, Annual General Meeting, Jun 11, 2026PT Bukit Asam (Persero) Tbk, Annual General Meeting, Jun 11, 2026.Reported Earnings • May 05First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2026 results: EPS: Rp69.60 (up from Rp34.00 in 1Q 2025). Revenue: Rp9.93t (flat on 1Q 2025). Net income: Rp801.8b (up 105% from 1Q 2025). Profit margin: 8.1% (up from 3.9% in 1Q 2025). Revenue missed analyst estimates by 9.8%. Earnings per share (EPS) exceeded analyst estimates by 39%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.New Risk • May 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.0% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Cash payout ratio: 139% Earnings are forecast to decline by an average of 3.0% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (6.9% net profit margin).Price Target Changed • Apr 18Price target increased by 8.7% to Rp2,766Up from Rp2,545, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of Rp2,900. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of Rp317 for next year compared to Rp254 last year.Reported Earnings • Apr 03Full year 2025 earnings released: EPS: Rp254 (vs Rp444 in FY 2024)Full year 2025 results: EPS: Rp254 (down from Rp444 in FY 2024). Revenue: Rp43t (flat on FY 2024). Net income: Rp2.93t (down 43% from FY 2024). Profit margin: 6.9% (down from 12% in FY 2024). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.New Risk • Apr 02New major risk - Revenue and earnings growthEarnings have declined by 4.2% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Cash payout ratio: 147% Earnings have declined by 4.2% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (7.5% net profit margin).Major Estimate Revision • Mar 05Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from Rp192 to Rp171. Revenue forecast unchanged from Rp42.0b at last update. Net income forecast to shrink 12% next year vs 10% growth forecast for Oil and Gas industry in Indonesia . Consensus price target up from Rp2,182 to Rp2,408. Share price rose 14% to Rp2,970 over the past week.Price Target Changed • Mar 04Price target increased by 10% to Rp2,408Up from Rp2,182, the current price target is an average from 12 analysts. New target price is 16% below last closing price of Rp2,860. Stock is up 11% over the past year. The company is forecast to post earnings per share of Rp171 for next year compared to Rp444 last year.Major Estimate Revision • Nov 27Consensus EPS estimates fall by 48%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from Rp41.8b to Rp40.9b. EPS estimate also fell from Rp285 per share to Rp148 per share. Net income forecast to shrink 19% next year vs 13% growth forecast for Oil and Gas industry in Indonesia . Consensus price target broadly unchanged at Rp2,262. Share price was steady at Rp2,300 over the past week.Board Change • Oct 24No independent directorsThere are 11 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. No independent directors (6 non-independent directors). President Director Arsal Ismail is the most experienced director on the board, commencing their role in 2021. Independent Commissioner Dewi Hanggraeni was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.お知らせ • May 07PT Bukit Asam Tbk, Annual General Meeting, Jun 12, 2025PT Bukit Asam Tbk, Annual General Meeting, Jun 12, 2025.Price Target Changed • Sep 24Price target increased by 8.0% to Rp2,636Up from Rp2,440, the current price target is an average from 12 analysts. New target price is 15% below last closing price of Rp3,100. Stock is up 10% over the past year. The company is forecast to post earnings per share of Rp394 for next year compared to Rp532 last year.Major Estimate Revision • Aug 08Consensus EPS estimates fall by 12%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from Rp37.6b to Rp39.2b. EPS estimate fell from Rp470 to Rp412 per share. Net income forecast to shrink 12% next year vs 6.1% decline forecast for Oil and Gas industry in Indonesia. Consensus price target broadly unchanged at Rp2,468. Share price fell 2.2% to Rp2,610 over the past week.Reported Earnings • Aug 03Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beatSecond quarter 2024 results: EPS: Rp108 (down from Rp140 in 2Q 2023). Revenue: Rp10t (up 15% from 2Q 2023). Net income: Rp1.24t (down 23% from 2Q 2023). Profit margin: 12% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.1% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Price Target Changed • May 23Price target decreased by 8.8% to Rp2,359Down from Rp2,588, the current price target is an average from 11 analysts. New target price is 8.9% below last closing price of Rp2,590. Stock is down 14% over the past year. The company is forecast to post earnings per share of Rp427 for next year compared to Rp532 last year.Reported Earnings • May 05First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: Rp9.41t (down 5.5% from 1Q 2023). Net income: Rp790.9b (down 32% from 1Q 2023). Profit margin: 8.4% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.2% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 06Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: Rp38t (down 9.8% from FY 2022). Net income: Rp6.11t (down 51% from FY 2022). Profit margin: 16% (down from 30% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.9%. Revenue is expected to fall by 4.5% p.a. on average during the next 2 years compared to a 4.4% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Price Target Changed • Jan 05Price target decreased by 7.7% to Rp2,733Down from Rp2,961, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of Rp2,660. Stock is down 22% over the past year. The company is forecast to post earnings per share of Rp453 for next year compared to Rp1,094 last year.Buying Opportunity • Oct 31Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.5%. The fair value is estimated to be Rp3,106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 15% in 2 years. Earnings is forecast to decline by 42% in the next 2 years.Price Target Changed • Sep 19Price target decreased by 10% to Rp3,092Down from Rp3,438, the current price target is an average from 13 analysts. New target price is 7.4% above last closing price of Rp2,880. Stock is down 31% over the past year. The company is forecast to post earnings per share of Rp589 for next year compared to Rp1,094 last year.Reported Earnings • Sep 01Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp8.90t (down 13% from 2Q 2022). Net income: Rp1.61t (down 59% from 2Q 2022). Profit margin: 18% (down from 38% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 5.4% p.a. on average during the next 3 years compared to a 10% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Price Target Changed • Jul 27Price target decreased by 7.9% to Rp3,462Down from Rp3,760, the current price target is an average from 16 analysts. New target price is 22% above last closing price of Rp2,830. Stock is down 34% over the past year. The company is forecast to post earnings per share of Rp508 for next year compared to Rp1,094 last year.New Risk • Jul 15New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 110% Cash payout ratio: 131% Dividend yield: 39% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Cash payout ratio: 131% Earnings are forecast to decline by an average of 30% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.7% average weekly change).Major Estimate Revision • Jun 28Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from Rp579 to Rp504 per share. Revenue forecast steady at Rp38.4b. Net income forecast to shrink 39% next year vs 38% decline forecast for Oil and Gas industry in Indonesia. Consensus price target broadly unchanged at Rp3,760. Share price fell 30% to Rp2,680 over the past week.Valuation Update With 7 Day Price Move • Jun 26Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to Rp3,150, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Indonesia. Total returns to shareholders of 167% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp2,658 per share.Price Target Changed • May 12Price target decreased by 7.1% to Rp3,675Down from Rp3,958, the current price target is an average from 15 analysts. New target price is 8.1% above last closing price of Rp3,400. Stock is down 11% over the past year. The company is forecast to post earnings per share of Rp451 for next year compared to Rp1,094 last year.Major Estimate Revision • May 09Consensus EPS estimates fall by 42%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from Rp39.7b to Rp36.5b. EPS estimate also fell from Rp779 per share to Rp451 per share. Net income forecast to shrink 51% next year vs 24% decline forecast for Oil and Gas industry in Indonesia. Consensus price target down from Rp4,008 to Rp3,728. Share price fell 9.6% to Rp3,490 over the past week.Valuation Update With 7 Day Price Move • May 06Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to Rp3,360, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Indonesia. Total returns to shareholders of 128% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp3,048 per share.Reported Earnings • May 04First quarter 2023 earnings: Revenues miss analyst expectationsFirst quarter 2023 results: Revenue: Rp9.96t (up 21% from 1Q 2022). Net income: Rp1.16t (down 49% from 1Q 2022). Profit margin: 12% (down from 28% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 31%. Revenue is expected to fall by 3.2% p.a. on average during the next 3 years compared to a 6.6% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 09Full year 2022 earnings releasedFull year 2022 results: Revenue: Rp43t (up 46% from FY 2021). Net income: Rp13t (up 59% from FY 2021). Profit margin: 30% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 6.7% p.a. on average during the next 2 years compared to a 8.9% decline forecast for the Oil and Gas industry in Indonesia.Buying Opportunity • Dec 23Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be Rp4,697, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 8.8% in 2 years. Earnings is forecast to decline by 36% in the next 2 years.Buying Opportunity • Dec 07Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be Rp4,606, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 7.7% in 2 years. Earnings is forecast to decline by 35% in the next 2 years.Board Change • Nov 16No independent directorsThere are 10 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 10 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Independent President Commissioner Agus Suhartono is the most experienced director on the board, commencing their role in 2013. Independent Commissioner Andi Pawi was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.Reported Earnings • Oct 30Third quarter 2022 earnings released: EPS: Rp335 (vs Rp267 in 3Q 2021)Third quarter 2022 results: EPS: Rp335 (up from Rp267 in 3Q 2021). Revenue: Rp13t (up 39% from 3Q 2021). Net income: Rp3.84t (up 29% from 3Q 2021). Profit margin: 30% (down from 33% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 8.3% p.a. on average during the next 3 years compared to a 9.4% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.Price Target Changed • Jul 20Price target increased to Rp4,179Up from Rp3,894, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of Rp4,030. Stock is up 89% over the past year. The company is forecast to post earnings per share of Rp1,051 for next year compared to Rp702 last year.Valuation Update With 7 Day Price Move • Jun 10Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to Rp3,920, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Oil and Gas industry in Indonesia. Total returns to shareholders of 94% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp5,327 per share.Major Estimate Revision • Jun 09Consensus EPS estimates increase by 11%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from Rp40.8b to Rp44.2b. EPS estimate increased from Rp1,015 to Rp1,130 per share. Net income forecast to grow 18% next year vs 43% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp3,894 to Rp4,002. Share price fell 11% to Rp4,050 over the past week.Buying Opportunity • Jun 07Now 24% undervaluedOver the last 90 days, the stock is up 15%. The fair value is estimated to be Rp5,335, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 0.1% in 2 years. Earnings is forecast to decline by 25% in the next 2 years.Reported Earnings • May 30First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: Rp198 (up from Rp44.73 in 1Q 2021). Revenue: Rp8.21t (up 105% from 1Q 2021). Net income: Rp2.28t (up 355% from 1Q 2021). Profit margin: 28% (up from 13% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 59%. Over the next year, revenue is forecast to grow 17%, compared to a 37% growth forecast for the industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27No independent directorsThere are 8 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 8 new directors. 1 experienced director. 1 highly experienced director. No independent directors (4 non-independent directors). Independent President Commissioner Agus Suhartono is the most experienced director on the board, commencing their role in 2013. Independent Commissioner Andi Pawi was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.Major Estimate Revision • Mar 14Consensus revenue estimates increase by 28%The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from Rp28.7b to Rp36.7b. EPS estimate increased from Rp538 to Rp865 per share. Net income forecast to grow 21% next year vs 26% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp3,289 to Rp3,474. Share price fell 3.9% to Rp3,480 over the past week.Reported Earnings • Mar 11Full year 2021 earnings: Revenues exceed analyst expectationsFull year 2021 results: Revenue: Rp29t (up 69% from FY 2020). Net income: Rp7.91t (up 231% from FY 2020). Profit margin: 27% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 25%, compared to a 29% growth forecast for the oil industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Reported Earnings • Oct 29Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Rp9.09t (up 137% from 3Q 2020). Net income: Rp2.99t (up Rp2.55t from 3Q 2020). Profit margin: 33% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Sep 28Investor sentiment improved over the past weekAfter last week's 15% share price gain to Rp2,630, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,809 per share.Reported Earnings • Sep 03Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Rp6.30t (up 62% from 2Q 2020). Net income: Rp1.28t (up 232% from 2Q 2020). Profit margin: 20% (up from 9.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Reported Earnings • May 02First quarter 2021 earnings releasedThe company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: Rp3.99t (down 22% from 1Q 2020). Net income: Rp500.5b (down 45% from 1Q 2020). Profit margin: 13% (down from 18% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Mar 14Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.4%. Earnings per share (EPS) also missed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 19%, compared to a 14% growth forecast for the Oil and Gas industry in Indonesia.Reported Earnings • Mar 13Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: Rp17t (down 21% from FY 2019). Net income: Rp2.39t (down 41% from FY 2019). Profit margin: 14% (down from 19% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Dec 15New 90-day high: Rp3,050The company is up 50% from its price of Rp2,040 on 16 September 2020. The Indonesian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp1,534 per share.Valuation Update With 7 Day Price Move • Dec 09Market bids up stock over the past weekAfter last week's 15% share price gain to Rp2,820, the stock is trading at a trailing P/E ratio of 11.8x, up from the previous P/E ratio of 10.3x. This compares to an average P/E of 17x in the Oil and Gas industry in Indonesia. Total returns to shareholders over the past three years are 76%.Is New 90 Day High Low • Nov 27New 90-day high: Rp2,360The company is up 11% from its price of Rp2,130 on 28 August 2020. The Indonesian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp1,385 per share.Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS Rp39.67The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: Rp3.84t (down 32% from 3Q 2019). Net income: Rp439.4b (down 60% from 3Q 2019). Profit margin: 12% (down from 19% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Nov 07Earnings beat expectationsRevenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 9.4%, compared to a 2.6% growth forecast for the Oil and Gas industry in Indonesia.Reported Earnings • Oct 02First half earnings releasedOver the last 12 months the company has reported total profits of Rp3.34t, down 24% from the prior year. Total revenue was Rp20t over the last 12 months, down 5.2% from the prior year.Major Estimate Revision • Oct 01Analysts lower EPS estimates to Rp219The 2020 consensus revenue estimate was lowered from Rp19.0b to Rp18.5b. Earning per share (EPS) estimate was also lowered from Rp255 to Rp219 for the same period. Net income is expected to shrink by 32% next year compared to 16% decline forecast for the Oil and Gas industry in Indonesia. The consensus price target increased from Rp2,472 to Rp2,494. Share price is up 2.6% to Rp2,000 over the past week.業績と収益の成長予測IDX:PTBA - アナリストの将来予測と過去の財務データ ( )IDR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202851,999,4853,523,0883,912,7505,428,500512/31/202746,242,8654,028,5364,702,6335,869,6571012/31/202646,077,7733,634,9044,279,5336,189,46743/31/202642,623,0053,340,2723,303,5647,108,016N/A12/31/202542,651,7242,929,9572,755,4616,260,828N/A9/30/202543,439,3313,267,4062,595,8894,870,583N/A6/30/202543,574,5133,903,9262,404,1154,206,133N/A3/31/202543,313,8264,704,2594,672,4215,987,216N/A12/31/202442,764,9685,103,7203,817,3045,049,190N/A9/30/202441,407,1915,556,9581,838,6263,660,598N/A6/30/202439,273,1355,363,1282,661,7294,314,726N/A3/31/202437,941,3205,733,8641,938,9283,226,529N/A12/31/202338,488,8676,105,8562,167,4613,104,707N/A9/30/202339,315,3396,345,4605,799,4396,810,327N/A6/30/202343,084,1059,186,4197,369,3278,214,101N/A3/31/202344,400,60411,455,1219,616,51810,479,364N/A12/31/202242,648,59012,567,58211,638,30312,527,439N/A9/30/202240,950,50913,142,46413,546,18114,195,441N/A6/30/202237,393,20012,287,16113,814,60514,481,354N/A3/31/202233,471,6599,683,98811,533,29412,520,472N/A12/31/202129,261,4687,909,1139,846,12310,795,075N/A9/30/202123,858,1465,426,6335,329,9886,079,702N/A6/30/202118,604,0472,876,6752,953,8333,763,751N/A3/31/202116,197,6271,984,0882,085,5722,801,693N/A12/31/202017,325,1922,386,8192,798,5703,513,628N/A9/30/202018,382,3762,683,8193,031,8003,952,300N/A6/30/202020,185,0793,337,3853,424,1474,373,922N/A3/31/202021,573,0883,822,9283,070,9904,370,939N/A12/31/201921,787,5644,056,888N/A4,296,479N/A9/30/201921,385,4184,195,311N/A4,995,221N/A6/30/201921,290,0694,375,079N/A5,294,885N/A3/31/201920,755,1464,710,005N/A4,570,691N/A12/31/201821,166,9935,023,946N/A7,867,786N/A9/30/201822,219,4655,780,509N/A6,821,500N/A6/30/201820,971,1895,477,160N/A6,026,245N/A3/31/201820,672,9735,056,765N/A6,452,426N/A12/31/201719,471,0304,476,444N/A2,415,444N/A9/30/201717,304,2943,580,287N/A3,239,515N/A6/30/201716,292,1222,950,893N/A2,087,227N/A3/31/201715,061,1712,544,443N/A2,300,499N/A12/31/201614,058,8692,006,188N/A1,928,346N/A9/30/201613,385,1521,582,064N/A829,953N/A6/30/201614,092,1191,952,518N/A1,593,275N/A3/31/201614,112,7362,028,151N/A1,468,482N/A12/31/201513,845,1992,035,911N/A1,897,771N/A9/30/201513,923,5341,784,299N/A2,385,669N/A6/30/201513,162,1861,499,871N/A1,718,735N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: PTBAの予測収益成長率 (年間4.1% ) は 貯蓄率 ( 6.7% ) を下回っています。収益対市場: PTBAの収益 ( 4.1% ) ID市場 ( 14.4% ) よりも低い成長が予測されています。高成長収益: PTBAの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: PTBAの収益 ( 6.2% ) ID市場 ( 14.2% ) よりも低い成長が予測されています。高い収益成長: PTBAの収益 ( 6.2% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: PTBAの 自己資本利益率 は、3年後には低くなると予測されています ( 15.8 %)。成長企業の発掘7D1Y7D1Y7D1YEnergy 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/11 17:34終値2026/06/11 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋PT Bukit Asam (Persero) Tbk 10 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。32 アナリスト機関Ephrem RaviBarclaysSwati ChopraBofA Global ResearchTansino Aulia LubisBofA Global Research29 その他のアナリストを表示
Major Estimate Revision • Jun 09Consensus EPS estimates increase by 10%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from Rp286 to Rp316. Revenue forecast steady at Rp46.1b. Net income forecast to grow 12% next year vs 48% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp2,849 to Rp2,949. Share price fell 4.3% to Rp2,640 over the past week.
Price Target Changed • Apr 18Price target increased by 8.7% to Rp2,766Up from Rp2,545, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of Rp2,900. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of Rp317 for next year compared to Rp254 last year.
Major Estimate Revision • Mar 05Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from Rp192 to Rp171. Revenue forecast unchanged from Rp42.0b at last update. Net income forecast to shrink 12% next year vs 10% growth forecast for Oil and Gas industry in Indonesia . Consensus price target up from Rp2,182 to Rp2,408. Share price rose 14% to Rp2,970 over the past week.
Price Target Changed • Mar 04Price target increased by 10% to Rp2,408Up from Rp2,182, the current price target is an average from 12 analysts. New target price is 16% below last closing price of Rp2,860. Stock is up 11% over the past year. The company is forecast to post earnings per share of Rp171 for next year compared to Rp444 last year.
Major Estimate Revision • Nov 27Consensus EPS estimates fall by 48%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from Rp41.8b to Rp40.9b. EPS estimate also fell from Rp285 per share to Rp148 per share. Net income forecast to shrink 19% next year vs 13% growth forecast for Oil and Gas industry in Indonesia . Consensus price target broadly unchanged at Rp2,262. Share price was steady at Rp2,300 over the past week.
Price Target Changed • Sep 24Price target increased by 8.0% to Rp2,636Up from Rp2,440, the current price target is an average from 12 analysts. New target price is 15% below last closing price of Rp3,100. Stock is up 10% over the past year. The company is forecast to post earnings per share of Rp394 for next year compared to Rp532 last year.
Major Estimate Revision • Jun 09Consensus EPS estimates increase by 10%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from Rp286 to Rp316. Revenue forecast steady at Rp46.1b. Net income forecast to grow 12% next year vs 48% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp2,849 to Rp2,949. Share price fell 4.3% to Rp2,640 over the past week.
お知らせ • May 06PT Bukit Asam (Persero) Tbk, Annual General Meeting, Jun 11, 2026PT Bukit Asam (Persero) Tbk, Annual General Meeting, Jun 11, 2026.
Reported Earnings • May 05First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2026 results: EPS: Rp69.60 (up from Rp34.00 in 1Q 2025). Revenue: Rp9.93t (flat on 1Q 2025). Net income: Rp801.8b (up 105% from 1Q 2025). Profit margin: 8.1% (up from 3.9% in 1Q 2025). Revenue missed analyst estimates by 9.8%. Earnings per share (EPS) exceeded analyst estimates by 39%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
New Risk • May 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.0% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Cash payout ratio: 139% Earnings are forecast to decline by an average of 3.0% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (6.9% net profit margin).
Price Target Changed • Apr 18Price target increased by 8.7% to Rp2,766Up from Rp2,545, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of Rp2,900. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of Rp317 for next year compared to Rp254 last year.
Reported Earnings • Apr 03Full year 2025 earnings released: EPS: Rp254 (vs Rp444 in FY 2024)Full year 2025 results: EPS: Rp254 (down from Rp444 in FY 2024). Revenue: Rp43t (flat on FY 2024). Net income: Rp2.93t (down 43% from FY 2024). Profit margin: 6.9% (down from 12% in FY 2024). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
New Risk • Apr 02New major risk - Revenue and earnings growthEarnings have declined by 4.2% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Cash payout ratio: 147% Earnings have declined by 4.2% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (7.5% net profit margin).
Major Estimate Revision • Mar 05Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from Rp192 to Rp171. Revenue forecast unchanged from Rp42.0b at last update. Net income forecast to shrink 12% next year vs 10% growth forecast for Oil and Gas industry in Indonesia . Consensus price target up from Rp2,182 to Rp2,408. Share price rose 14% to Rp2,970 over the past week.
Price Target Changed • Mar 04Price target increased by 10% to Rp2,408Up from Rp2,182, the current price target is an average from 12 analysts. New target price is 16% below last closing price of Rp2,860. Stock is up 11% over the past year. The company is forecast to post earnings per share of Rp171 for next year compared to Rp444 last year.
Major Estimate Revision • Nov 27Consensus EPS estimates fall by 48%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from Rp41.8b to Rp40.9b. EPS estimate also fell from Rp285 per share to Rp148 per share. Net income forecast to shrink 19% next year vs 13% growth forecast for Oil and Gas industry in Indonesia . Consensus price target broadly unchanged at Rp2,262. Share price was steady at Rp2,300 over the past week.
Board Change • Oct 24No independent directorsThere are 11 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. No independent directors (6 non-independent directors). President Director Arsal Ismail is the most experienced director on the board, commencing their role in 2021. Independent Commissioner Dewi Hanggraeni was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
お知らせ • May 07PT Bukit Asam Tbk, Annual General Meeting, Jun 12, 2025PT Bukit Asam Tbk, Annual General Meeting, Jun 12, 2025.
Price Target Changed • Sep 24Price target increased by 8.0% to Rp2,636Up from Rp2,440, the current price target is an average from 12 analysts. New target price is 15% below last closing price of Rp3,100. Stock is up 10% over the past year. The company is forecast to post earnings per share of Rp394 for next year compared to Rp532 last year.
Major Estimate Revision • Aug 08Consensus EPS estimates fall by 12%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from Rp37.6b to Rp39.2b. EPS estimate fell from Rp470 to Rp412 per share. Net income forecast to shrink 12% next year vs 6.1% decline forecast for Oil and Gas industry in Indonesia. Consensus price target broadly unchanged at Rp2,468. Share price fell 2.2% to Rp2,610 over the past week.
Reported Earnings • Aug 03Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beatSecond quarter 2024 results: EPS: Rp108 (down from Rp140 in 2Q 2023). Revenue: Rp10t (up 15% from 2Q 2023). Net income: Rp1.24t (down 23% from 2Q 2023). Profit margin: 12% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.1% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Price Target Changed • May 23Price target decreased by 8.8% to Rp2,359Down from Rp2,588, the current price target is an average from 11 analysts. New target price is 8.9% below last closing price of Rp2,590. Stock is down 14% over the past year. The company is forecast to post earnings per share of Rp427 for next year compared to Rp532 last year.
Reported Earnings • May 05First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: Rp9.41t (down 5.5% from 1Q 2023). Net income: Rp790.9b (down 32% from 1Q 2023). Profit margin: 8.4% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.2% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 06Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: Rp38t (down 9.8% from FY 2022). Net income: Rp6.11t (down 51% from FY 2022). Profit margin: 16% (down from 30% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.9%. Revenue is expected to fall by 4.5% p.a. on average during the next 2 years compared to a 4.4% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Jan 05Price target decreased by 7.7% to Rp2,733Down from Rp2,961, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of Rp2,660. Stock is down 22% over the past year. The company is forecast to post earnings per share of Rp453 for next year compared to Rp1,094 last year.
Buying Opportunity • Oct 31Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.5%. The fair value is estimated to be Rp3,106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 15% in 2 years. Earnings is forecast to decline by 42% in the next 2 years.
Price Target Changed • Sep 19Price target decreased by 10% to Rp3,092Down from Rp3,438, the current price target is an average from 13 analysts. New target price is 7.4% above last closing price of Rp2,880. Stock is down 31% over the past year. The company is forecast to post earnings per share of Rp589 for next year compared to Rp1,094 last year.
Reported Earnings • Sep 01Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp8.90t (down 13% from 2Q 2022). Net income: Rp1.61t (down 59% from 2Q 2022). Profit margin: 18% (down from 38% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is expected to fall by 5.4% p.a. on average during the next 3 years compared to a 10% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Jul 27Price target decreased by 7.9% to Rp3,462Down from Rp3,760, the current price target is an average from 16 analysts. New target price is 22% above last closing price of Rp2,830. Stock is down 34% over the past year. The company is forecast to post earnings per share of Rp508 for next year compared to Rp1,094 last year.
New Risk • Jul 15New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 110% Cash payout ratio: 131% Dividend yield: 39% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Cash payout ratio: 131% Earnings are forecast to decline by an average of 30% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.7% average weekly change).
Major Estimate Revision • Jun 28Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from Rp579 to Rp504 per share. Revenue forecast steady at Rp38.4b. Net income forecast to shrink 39% next year vs 38% decline forecast for Oil and Gas industry in Indonesia. Consensus price target broadly unchanged at Rp3,760. Share price fell 30% to Rp2,680 over the past week.
Valuation Update With 7 Day Price Move • Jun 26Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to Rp3,150, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Indonesia. Total returns to shareholders of 167% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp2,658 per share.
Price Target Changed • May 12Price target decreased by 7.1% to Rp3,675Down from Rp3,958, the current price target is an average from 15 analysts. New target price is 8.1% above last closing price of Rp3,400. Stock is down 11% over the past year. The company is forecast to post earnings per share of Rp451 for next year compared to Rp1,094 last year.
Major Estimate Revision • May 09Consensus EPS estimates fall by 42%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from Rp39.7b to Rp36.5b. EPS estimate also fell from Rp779 per share to Rp451 per share. Net income forecast to shrink 51% next year vs 24% decline forecast for Oil and Gas industry in Indonesia. Consensus price target down from Rp4,008 to Rp3,728. Share price fell 9.6% to Rp3,490 over the past week.
Valuation Update With 7 Day Price Move • May 06Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to Rp3,360, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Indonesia. Total returns to shareholders of 128% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp3,048 per share.
Reported Earnings • May 04First quarter 2023 earnings: Revenues miss analyst expectationsFirst quarter 2023 results: Revenue: Rp9.96t (up 21% from 1Q 2022). Net income: Rp1.16t (down 49% from 1Q 2022). Profit margin: 12% (down from 28% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 31%. Revenue is expected to fall by 3.2% p.a. on average during the next 3 years compared to a 6.6% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 09Full year 2022 earnings releasedFull year 2022 results: Revenue: Rp43t (up 46% from FY 2021). Net income: Rp13t (up 59% from FY 2021). Profit margin: 30% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 6.7% p.a. on average during the next 2 years compared to a 8.9% decline forecast for the Oil and Gas industry in Indonesia.
Buying Opportunity • Dec 23Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be Rp4,697, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 8.8% in 2 years. Earnings is forecast to decline by 36% in the next 2 years.
Buying Opportunity • Dec 07Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be Rp4,606, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 7.7% in 2 years. Earnings is forecast to decline by 35% in the next 2 years.
Board Change • Nov 16No independent directorsThere are 10 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 10 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Independent President Commissioner Agus Suhartono is the most experienced director on the board, commencing their role in 2013. Independent Commissioner Andi Pawi was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
Reported Earnings • Oct 30Third quarter 2022 earnings released: EPS: Rp335 (vs Rp267 in 3Q 2021)Third quarter 2022 results: EPS: Rp335 (up from Rp267 in 3Q 2021). Revenue: Rp13t (up 39% from 3Q 2021). Net income: Rp3.84t (up 29% from 3Q 2021). Profit margin: 30% (down from 33% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 8.3% p.a. on average during the next 3 years compared to a 9.4% decline forecast for the Oil and Gas industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Jul 20Price target increased to Rp4,179Up from Rp3,894, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of Rp4,030. Stock is up 89% over the past year. The company is forecast to post earnings per share of Rp1,051 for next year compared to Rp702 last year.
Valuation Update With 7 Day Price Move • Jun 10Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to Rp3,920, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Oil and Gas industry in Indonesia. Total returns to shareholders of 94% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp5,327 per share.
Major Estimate Revision • Jun 09Consensus EPS estimates increase by 11%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from Rp40.8b to Rp44.2b. EPS estimate increased from Rp1,015 to Rp1,130 per share. Net income forecast to grow 18% next year vs 43% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp3,894 to Rp4,002. Share price fell 11% to Rp4,050 over the past week.
Buying Opportunity • Jun 07Now 24% undervaluedOver the last 90 days, the stock is up 15%. The fair value is estimated to be Rp5,335, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 0.1% in 2 years. Earnings is forecast to decline by 25% in the next 2 years.
Reported Earnings • May 30First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: Rp198 (up from Rp44.73 in 1Q 2021). Revenue: Rp8.21t (up 105% from 1Q 2021). Net income: Rp2.28t (up 355% from 1Q 2021). Profit margin: 28% (up from 13% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 59%. Over the next year, revenue is forecast to grow 17%, compared to a 37% growth forecast for the industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27No independent directorsThere are 8 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 8 new directors. 1 experienced director. 1 highly experienced director. No independent directors (4 non-independent directors). Independent President Commissioner Agus Suhartono is the most experienced director on the board, commencing their role in 2013. Independent Commissioner Andi Pawi was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
Major Estimate Revision • Mar 14Consensus revenue estimates increase by 28%The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from Rp28.7b to Rp36.7b. EPS estimate increased from Rp538 to Rp865 per share. Net income forecast to grow 21% next year vs 26% growth forecast for Oil and Gas industry in Indonesia. Consensus price target up from Rp3,289 to Rp3,474. Share price fell 3.9% to Rp3,480 over the past week.
Reported Earnings • Mar 11Full year 2021 earnings: Revenues exceed analyst expectationsFull year 2021 results: Revenue: Rp29t (up 69% from FY 2020). Net income: Rp7.91t (up 231% from FY 2020). Profit margin: 27% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 25%, compared to a 29% growth forecast for the oil industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Reported Earnings • Oct 29Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Rp9.09t (up 137% from 3Q 2020). Net income: Rp2.99t (up Rp2.55t from 3Q 2020). Profit margin: 33% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Sep 28Investor sentiment improved over the past weekAfter last week's 15% share price gain to Rp2,630, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,809 per share.
Reported Earnings • Sep 03Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Rp6.30t (up 62% from 2Q 2020). Net income: Rp1.28t (up 232% from 2Q 2020). Profit margin: 20% (up from 9.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 02First quarter 2021 earnings releasedThe company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: Rp3.99t (down 22% from 1Q 2020). Net income: Rp500.5b (down 45% from 1Q 2020). Profit margin: 13% (down from 18% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Mar 14Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.4%. Earnings per share (EPS) also missed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 19%, compared to a 14% growth forecast for the Oil and Gas industry in Indonesia.
Reported Earnings • Mar 13Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: Rp17t (down 21% from FY 2019). Net income: Rp2.39t (down 41% from FY 2019). Profit margin: 14% (down from 19% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Dec 15New 90-day high: Rp3,050The company is up 50% from its price of Rp2,040 on 16 September 2020. The Indonesian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp1,534 per share.
Valuation Update With 7 Day Price Move • Dec 09Market bids up stock over the past weekAfter last week's 15% share price gain to Rp2,820, the stock is trading at a trailing P/E ratio of 11.8x, up from the previous P/E ratio of 10.3x. This compares to an average P/E of 17x in the Oil and Gas industry in Indonesia. Total returns to shareholders over the past three years are 76%.
Is New 90 Day High Low • Nov 27New 90-day high: Rp2,360The company is up 11% from its price of Rp2,130 on 28 August 2020. The Indonesian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp1,385 per share.
Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS Rp39.67The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: Rp3.84t (down 32% from 3Q 2019). Net income: Rp439.4b (down 60% from 3Q 2019). Profit margin: 12% (down from 19% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Nov 07Earnings beat expectationsRevenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 9.4%, compared to a 2.6% growth forecast for the Oil and Gas industry in Indonesia.
Reported Earnings • Oct 02First half earnings releasedOver the last 12 months the company has reported total profits of Rp3.34t, down 24% from the prior year. Total revenue was Rp20t over the last 12 months, down 5.2% from the prior year.
Major Estimate Revision • Oct 01Analysts lower EPS estimates to Rp219The 2020 consensus revenue estimate was lowered from Rp19.0b to Rp18.5b. Earning per share (EPS) estimate was also lowered from Rp255 to Rp219 for the same period. Net income is expected to shrink by 32% next year compared to 16% decline forecast for the Oil and Gas industry in Indonesia. The consensus price target increased from Rp2,472 to Rp2,494. Share price is up 2.6% to Rp2,000 over the past week.