Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp1,480, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Tobacco industry in Asia. Total returns to shareholders of 59% over the past three years. Reported Earnings • May 01
First quarter 2026 earnings released: EPS: Rp70.96 (vs Rp35.23 in 1Q 2025) First quarter 2026 results: EPS: Rp70.96 (up from Rp35.23 in 1Q 2025). Revenue: Rp1.61t (up 107% from 1Q 2025). Net income: Rp148.1b (up 102% from 1Q 2025). Profit margin: 9.2% (down from 9.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Tobacco industry in Asia. 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 19% per year, which means it is well ahead of earnings. 공시 • Apr 10
PT Wismilak Inti Makmur Tbk, Annual General Meeting, May 18, 2026 PT Wismilak Inti Makmur Tbk, Annual General Meeting, May 18, 2026. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: Rp202 (vs Rp144 in FY 2024) Full year 2025 results: EPS: Rp202 (up from Rp144 in FY 2024). Revenue: Rp6.38t (up 130% from FY 2024). Net income: Rp419.2b (up 40% from FY 2024). Profit margin: 6.6% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Tobacco industry in Asia. 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 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp2,020, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Tobacco industry in Asia. Total returns to shareholders of 258% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp2,030, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Tobacco industry in Asia. Total returns to shareholders of 216% over the past three years. Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to Rp1,790, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Tobacco industry in Asia. Total returns to shareholders of 209% over the past three years. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: Rp65.85 (vs Rp29.03 in 3Q 2024) Third quarter 2025 results: EPS: Rp65.85 (up from Rp29.03 in 3Q 2024). Revenue: Rp3.02t (up 320% from 3Q 2024). Net income: Rp136.7b (up 127% from 3Q 2024). Profit margin: 4.5% (down from 8.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Tobacco industry in Asia. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. 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 Daniel Darmadi 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. Price Target Changed • Oct 24
Price target increased by 16% to Rp870 Up from Rp750, the current price target is provided by 1 analyst. New target price is 28% below last closing price of Rp1,200. Stock is up 28% over the past year. The company is forecast to post earnings per share of Rp163 for next year compared to Rp144 last year. 공시 • Apr 11
PT Wismilak Inti Makmur Tbk, Annual General Meeting, May 26, 2025 PT Wismilak Inti Makmur Tbk, Annual General Meeting, May 26, 2025. Location: jakarta Indonesia New Risk • Oct 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.2% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (65% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (9.2% net profit margin). New Risk • Aug 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (78% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.6% average weekly change). Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp980, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 13x in the Tobacco industry in Asia. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp1,145, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Tobacco industry in Asia. Total returns to shareholders of 161% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp990, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Tobacco industry in Asia. Total returns to shareholders of 106% over the past three years. New Risk • Jun 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (78% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Reported Earnings • May 04
First quarter 2024 earnings released: EPS: Rp43.63 (vs Rp53.05 in 1Q 2023) First quarter 2024 results: EPS: Rp43.63 (down from Rp53.05 in 1Q 2023). Revenue: Rp1.06t (down 9.7% from 1Q 2023). Net income: Rp90.6b (down 18% from 1Q 2023). Profit margin: 8.6% (in line with 1Q 2023). Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Tobacco industry in Asia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to Rp1,195, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Tobacco industry in Asia. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp2,161 per share. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: Rp239 (vs Rp119 in FY 2022) Full year 2023 results: EPS: Rp239 (up from Rp119 in FY 2022). Revenue: Rp4.87t (up 181% from FY 2022). Net income: Rp494.3b (up 98% from FY 2022). Profit margin: 10% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Tobacco industry in Asia. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 45% to Rp1,730. The fair value is estimated to be Rp2,166, 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. Earnings per share has grown by 41%. Revenue is forecast to grow by 136% in 2 years. Earnings are forecast to grow by 7.6% in the next 2 years. Buy Or Sell Opportunity • Feb 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 44% to Rp1,715. The fair value is estimated to be Rp2,161, 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. Earnings per share has grown by 41%. Revenue is forecast to grow by 136% in 2 years. Earnings are forecast to grow by 7.6% in the next 2 years. Buy Or Sell Opportunity • Jan 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 50% to Rp1,625. The fair value is estimated to be Rp2,036, 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. Earnings per share has grown by 41%. Revenue is forecast to grow by 136% in 2 years. Earnings are forecast to grow by 7.6% in the next 2 years. Buying Opportunity • Jan 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 34%. The fair value is estimated to be Rp2,327, 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. Earnings per share has grown by 41%. Buying Opportunity • Dec 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be Rp2,158, 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. Earnings per share has grown by 41%. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment deteriorates as stock falls 38% After last week's 38% share price decline to Rp1,835, the stock trades at a trailing P/E ratio of 7.3x. Average forward P/E is 12x in the Tobacco industry in Asia. Total returns to shareholders of 288% over the past three years. New Risk • Dec 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 53% 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 Risk High level of non-cash earnings (53% accrual ratio). Minor Risk Dividend is not well covered by cash flows (134% cash payout ratio). New Risk • Oct 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.7% average weekly change). Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp3,230, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Tobacco industry in Asia. Total returns to shareholders of 934% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,952 per share. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp2,000, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Tobacco industry in Asia. Total returns to shareholders of 555% over the past three years. New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% 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 Risk Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: Rp66.21 (vs Rp21.18 in 2Q 2022) Second quarter 2023 results: EPS: Rp66.21 (up from Rp21.18 in 2Q 2022). Net income: Rp136.0b (up 206% from 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Tobacco industry in Asia. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp1,680, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Tobacco industry in Asia. Total returns to shareholders of 765% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp1,530, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Tobacco industry in Asia. Total returns to shareholders of 832% over the past three years. Buying Opportunity • Jun 05
Now 21% undervalued Over the last 90 days, the stock is up 64%. The fair value is estimated to be Rp1,631, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 28% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp1,075, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Tobacco industry in Asia. Total returns to shareholders of 748% over the past three years. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: Rp119 (vs Rp84.13 in FY 2021) Full year 2022 results: EPS: Rp119 (up from Rp84.13 in FY 2021). Revenue: Rp3.70t (up 184% from FY 2021). Net income: Rp249.3b (up 41% from FY 2021). Profit margin: 6.7% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
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. No experienced directors. 8 highly experienced directors. No independent directors (5 non-independent directors). Independent Commissioner Edy Sugito was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: Rp41.51 (vs Rp21.80 in 3Q 2021) Third quarter 2022 results: EPS: Rp41.51 (up from Rp21.80 in 3Q 2021). Revenue: Rp1.91t (up Rp1.60t from 3Q 2021). Net income: Rp87.2b (up 90% from 3Q 2021). Profit margin: 4.6% (down from 15% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 19% share price gain to Rp600, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 11x in the Tobacco industry in Asia. Total returns to shareholders of 216% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 16% share price gain to Rp535, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 13x in the Tobacco industry in Asia. Total returns to shareholders of 153% over the past three years. Buying Opportunity • Jun 29
Now 21% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be Rp630, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 58%. Buying Opportunity • Jun 13
Now 22% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be Rp630, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 58%. Buying Opportunity • May 12
Now 21% undervalued Over the last 90 days, the stock is up 5.3%. The fair value is estimated to be Rp611, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 58%. Board Change • Apr 27
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. No experienced directors. 8 highly experienced directors. No independent directors (5 non-independent directors). Independent Commissioner Edy Sugito was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 17% share price gain to Rp498, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 15x in the Tobacco industry in Asia. Total returns to shareholders of 111% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 18% share price gain to Rp456, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 16x in the Tobacco industry in Asia. Total returns to shareholders of 28% over the past three years. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS Rp11.65 (vs Rp13.97 in 2Q 2020) The company reported a decent second quarter result with improved revenues, although earnings and profit margins were weaker. Second quarter 2021 results: Revenue: Rp877.6b (up 245% from 2Q 2020). Net income: Rp24.5b (down 17% from 2Q 2020). Profit margin: 2.8% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. 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 40% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 18% share price gain to Rp650, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 16x in the Tobacco industry in Asia. Total returns to shareholders of 219% over the past three years. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 17% share price gain to Rp1,065, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 17x in the Tobacco industry in Asia. Total returns to shareholders of 289% over the past three years. Is New 90 Day High Low • Feb 26
New 90-day high: Rp1,000 The company is up 75% from its price of Rp570 on 27 November 2020. The Indonesian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tobacco industry, which is down 16% over the same period. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improved over the past week After last week's 26% share price gain to Rp875, the stock is trading at a trailing P/E ratio of 15.2x, up from the previous P/E ratio of 12.1x. This compares to an average P/E of 18x in the Tobacco industry in Asia. Total returns to shareholders over the past three years are 213%. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 24% share price gain to Rp570, the stock is trading at a trailing P/E ratio of 9.9x, up from the previous P/E ratio of 8x. This compares to an average P/E of 19x in the Tobacco industry in Asia. Total returns to shareholders over the past three years are 126%. Is New 90 Day High Low • Jan 29
New 90-day low: Rp458 The company is down 1.0% from its price of Rp464 on 27 October 2020. The Indonesian market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Tobacco industry, which is down 5.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: Rp595 The company is up 80% from its price of Rp330 on 10 September 2020. The Indonesian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tobacco industry, which is flat over the same period. Is New 90 Day High Low • Nov 14
New 90-day high: Rp515 The company is up 46% from its price of Rp352 on 14 August 2020. The Indonesian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tobacco industry, which is down 16% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of Rp120.6b, up 243% from the prior year. Total revenue was Rp1.35t over the last 12 months, up 43% from the prior year. Is New 90 Day High Low • Oct 27
New 90-day high: Rp464 The company is up 63% from its price of Rp284 on 29 July 2020. The Indonesian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tobacco industry, which is down 12% over the same period. Valuation Update With 7 Day Price Move • Oct 27
Market bids up stock over the past week After last week's 27% share price gain to Rp464, the stock is trading at a trailing P/E ratio of 15.6x, up from the previous P/E ratio of 12.3x. This compares to an average P/E of 14x in the Tobacco industry in Asia. Total returns to shareholders over the past three years are 71%.