New Risk • Jun 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.79t (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (111% payout ratio). Market cap is less than US$100m (Rp1.79t market cap, or US$98.7m). Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: Rp51.52 (vs Rp34.93 in 1Q 2025) First quarter 2026 results: EPS: Rp51.52 (up from Rp34.93 in 1Q 2025). Revenue: Rp759.8b (up 5.3% from 1Q 2025). Net income: Rp69.5b (up 48% from 1Q 2025). Profit margin: 9.1% (up from 6.5% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. 공시 • Mar 10
PT Astra Graphia Tbk, Annual General Meeting, Apr 15, 2026 PT Astra Graphia Tbk, Annual General Meeting, Apr 15, 2026. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: Rp201 (vs Rp152 in FY 2024) Full year 2025 results: EPS: Rp201 (up from Rp152 in FY 2024). Revenue: Rp2.99t (up 6.3% from FY 2024). Net income: Rp270.6b (up 32% from FY 2024). Profit margin: 9.0% (up from 7.3% 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 30% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to Rp1,590, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 21x in the Commercial Services industry in Indonesia. Total returns to shareholders of 100% over the past three years. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: Rp55.67 (vs Rp50.71 in 3Q 2024) Third quarter 2025 results: EPS: Rp55.67 (up from Rp50.71 in 3Q 2024). Revenue: Rp735.8b (down 1.9% from 3Q 2024). Net income: Rp75.1b (up 9.7% from 3Q 2024). Profit margin: 10% (up from 9.1% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Oct 24
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. 4 non-independent directors. Independent Commissioner Sidharta Utama was the last independent director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Mar 13
PT Astra Graphia Tbk, Annual General Meeting, Apr 28, 2025 PT Astra Graphia Tbk, Annual General Meeting, Apr 28, 2025. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: Rp50.73 (vs Rp42.58 in 3Q 2023) Third quarter 2024 results: EPS: Rp50.73 (up from Rp42.58 in 3Q 2023). Revenue: Rp750.4b (down 2.0% from 3Q 2023). Net income: Rp68.4b (up 19% from 3Q 2023). Profit margin: 9.1% (up from 7.5% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • Oct 10
First half dividend increased to Rp19.00 Dividend of Rp19.00 is 46% higher than last year. Ex-date: 16th October 2024 Payment date: 24th October 2024 Dividend yield will be 6.1%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 67% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.2% EPS decline seen over the last 5 years. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: Rp39.16 (vs Rp31.05 in 2Q 2023) Second quarter 2024 results: EPS: Rp39.16 (up from Rp31.05 in 2Q 2023). Revenue: Rp676.7b (up 7.3% from 2Q 2023). Net income: Rp52.8b (up 26% from 2Q 2023). Profit margin: 7.8% (up from 6.6% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: Rp21.74 (vs Rp18.56 in 1Q 2023) First quarter 2024 results: EPS: Rp21.74 (up from Rp18.56 in 1Q 2023). Revenue: Rp611.4b (down 10% from 1Q 2023). Net income: Rp29.3b (up 17% from 1Q 2023). Profit margin: 4.8% (up from 3.7% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: Rp105 (vs Rp71.96 in FY 2022) Full year 2023 results: EPS: Rp105 (up from Rp71.96 in FY 2022). Revenue: Rp2.97t (up 2.0% from FY 2022). Net income: Rp141.1b (up 45% from FY 2022). Profit margin: 4.8% (up from 3.3% in FY 2022). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: Rp42.61 (vs Rp24.39 in 3Q 2022) Third quarter 2023 results: EPS: Rp42.61 (up from Rp24.39 in 3Q 2022). Revenue: Rp765.4b (down 6.0% from 3Q 2022). Net income: Rp57.4b (up 75% from 3Q 2022). Profit margin: 7.5% (up from 4.0% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 29
Second quarter 2023 earnings released: EPS: Rp31.06 (vs Rp11.57 in 2Q 2022) Second quarter 2023 results: EPS: Rp31.06 (up from Rp11.57 in 2Q 2022). Revenue: Rp630.4b (up 2.8% from 2Q 2022). Net income: Rp41.9b (up 168% from 2Q 2022). Profit margin: 6.6% (up from 2.5% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Buying Opportunity • Jul 07
Now 21% undervalued Over the last 90 days, the stock is up 4.4%. The fair value is estimated to be Rp1,207, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 26%. Reported Earnings • Apr 20
First quarter 2023 earnings released: EPS: Rp18.56 (vs Rp11.70 in 1Q 2022) First quarter 2023 results: EPS: Rp18.56 (up from Rp11.70 in 1Q 2022). Revenue: Rp682.5b (up 10% from 1Q 2022). Net income: Rp25.0b (up 59% from 1Q 2022). Profit margin: 3.7% (up from 2.6% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: Rp71.96 (vs Rp64.72 in FY 2021) Full year 2022 results: EPS: Rp71.96 (up from Rp64.72 in FY 2021). Revenue: Rp2.91t (down 12% from FY 2021). Net income: Rp97.1b (up 11% from FY 2021). Profit margin: 3.3% (up from 2.6% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. 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. 4 non-independent directors. Independent Commissioner Lukito Dewandaya was the last independent director to join the board, commencing their role in 2015. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 11
Upcoming dividend of Rp8.00 per share Eligible shareholders must have bought the stock before 18 October 2022. Payment date: 24 October 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Indonesian dividend payers (4.9%). Higher than average of industry peers (2.1%). 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. 4 non-independent directors. Independent Commissioner Lukito Dewandaya was the last independent director to join the board, commencing their role in 2015. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 16% share price gain to Rp970, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 19x in the Commercial Services industry in Indonesia. Total loss to shareholders of 21% over the past three years. Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: Rp64.72 (up from Rp35.42 in FY 2020). Revenue: Rp3.30t (down 1.5% from FY 2020). Net income: Rp87.3b (up 83% from FY 2020). Profit margin: 2.6% (up from 1.4% in FY 2020). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%. Over the last 3 years on average, earnings per share has fallen by 52% 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. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS Rp14.05 (vs Rp9.44 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: Rp742.4b (down 17% from 3Q 2020). Net income: Rp18.9b (up 49% from 3Q 2020). Profit margin: 2.6% (up from 1.4% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 48% 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. Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS Rp12.34 (vs Rp13.79 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: Rp639.9b (down 14% from 2Q 2020). Net income: Rp16.6b (down 11% from 2Q 2020). Profit margin: 2.6% (in line with 2Q 2020). 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 24% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 16
New 90-day high: Rp845 The company is up 13% from its price of Rp745 on 18 September 2020. The Indonesian market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 06
New 90-day low: Rp665 The company is down 1.0% from its price of Rp670 on 07 August 2020. The Indonesian market is also down 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Commercial Services industry, which is up 6.0% over the same period. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of Rp184.7b, down 25% from the prior year. Total revenue was Rp4.37t over the last 12 months, up 5.3% from the prior year.