Upcoming Dividend • May 26
Upcoming dividend of Rp38.00 per share Eligible shareholders must have bought the stock before 02 June 2026. Payment date: 18 June 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.4%. Lower than top quartile of Indonesian dividend payers (6.5%). Lower than average of industry peers (5.3%). New Risk • May 24
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (Rp1.11t market cap, or US$62.4m). Reported Earnings • May 01
First quarter 2026 earnings released: EPS: Rp65.00 (vs Rp75.18 in 1Q 2025) First quarter 2026 results: EPS: Rp65.00 (down from Rp75.18 in 1Q 2025). Revenue: Rp513.7b (down 6.8% from 1Q 2025). Net income: Rp26.2b (down 13% from 1Q 2025). Profit margin: 5.1% (down from 5.5% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. 공고 • Apr 11
PT. Mandom Indonesia Tbk, Annual General Meeting, May 19, 2026 PT. Mandom Indonesia Tbk, Annual General Meeting, May 19, 2026. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: Rp38.00 (vs Rp310 loss in FY 2024) Full year 2025 results: EPS: Rp38.00 (up from Rp310 loss in FY 2024). Revenue: Rp2.15t (up 15% from FY 2024). Net income: Rp15.3b (up Rp140.0b from FY 2024). Profit margin: 0.7% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 04
Third quarter 2025 earnings released: Rp37.48 loss per share (vs Rp112 loss in 3Q 2024) Third quarter 2025 results: Rp37.48 loss per share (improved from Rp112 loss in 3Q 2024). Revenue: Rp509.1b (up 3.7% from 3Q 2024). Net loss: Rp15.1b (loss narrowed 67% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Board Change • Oct 24
No independent directors There are 5 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: 5 new directors. 6 experienced directors. 1 highly experienced director. No independent directors (4 non-independent directors). Commissioner Lie Harjono is the most experienced director on the board, commencing their role in 2001. Independent Commissioner Bowo Priyatno was the last independent director to join the board, commencing their role in 2024. 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. 공고 • Apr 19
PT. Mandom Indonesia Tbk, Annual General Meeting, May 27, 2025 PT. Mandom Indonesia Tbk, Annual General Meeting, May 27, 2025. Reported Earnings • Aug 01
Second quarter 2024 earnings released: Rp53.96 loss per share (vs Rp41.56 loss in 2Q 2023) Second quarter 2024 results: Rp53.96 loss per share (further deteriorated from Rp41.56 loss in 2Q 2023). Revenue: Rp448.1b (down 5.6% from 2Q 2023). Net loss: Rp21.6b (loss widened 29% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • May 17
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: 0.7% Last year net profit margin: 1.1% 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 Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (Rp1.18t market cap, or US$74.5m). Reported Earnings • Apr 28
First quarter 2024 earnings released: Rp50.00 loss per share (vs Rp12.07 profit in 1Q 2023) First quarter 2024 results: Rp50.00 loss per share (down from Rp12.07 profit in 1Q 2023). Revenue: Rp405.6b (down 20% from 1Q 2023). Net loss: Rp20.1b (down Rp25.0b from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: Rp95.00 (vs Rp45.92 in FY 2022) Full year 2023 results: EPS: Rp95.00 (up from Rp45.92 in FY 2022). Revenue: Rp2.05t (flat on FY 2022). Net income: Rp38.1b (up 106% from FY 2022). Profit margin: 1.9% (up from 0.9% in FY 2022). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 19
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 3.3% to Rp2,840. The fair value is estimated to be Rp2,275, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 80%. Buy Or Sell Opportunity • Mar 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.2% to Rp2,750. The fair value is estimated to be Rp2,274, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 80%. Buy Or Sell Opportunity • Feb 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.0% to Rp2,780. The fair value is estimated to be Rp2,292, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 80%. New Risk • Jan 24
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 9.4% 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 have declined by 51% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (Rp1.07t market cap, or US$68.5m). New Risk • Aug 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 566% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Paying a dividend despite having no free cash flows. Earnings have declined by 53% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (Rp1.17t market cap, or US$76.8m). Reported Earnings • Aug 03
Second quarter 2023 earnings released: Rp41.56 loss per share (vs Rp15.04 loss in 2Q 2022) Second quarter 2023 results: Rp41.56 loss per share (further deteriorated from Rp15.04 loss in 2Q 2022). Revenue: Rp474.7b (up 4.9% from 2Q 2022). Net loss: Rp16.7b (loss widened 176% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 15
Upcoming dividend of Rp90.00 per share Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 30 May 2023. The company last paid an ordinary dividend in July 2012. The average dividend yield among industry peers is 1.6%. Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: Rp92.00 (vs Rp376 loss in FY 2021) Full year 2022 results: EPS: Rp92.00 (up from Rp376 loss in FY 2021). Revenue: Rp2.04t (up 11% from FY 2021). Net income: Rp18.5b (up Rp94.1b from FY 2021). Profit margin: 0.9% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. 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 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 30
Third quarter 2022 earnings released: EPS: Rp158 (vs Rp53.02 loss in 3Q 2021) Third quarter 2022 results: EPS: Rp158 (up from Rp53.02 loss in 3Q 2021). Revenue: Rp625.6b (up 32% from 3Q 2021). Net income: Rp32.0b (up Rp42.7b from 3Q 2021). Profit margin: 5.1% (up from net loss in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
No independent directors There are 7 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: 7 new directors. 2 experienced directors. 3 highly experienced directors. No independent directors (7 non-independent directors). Commissioner Lie Harjono is the most experienced director on the board, commencing their role in 2001. Independent Commissioner Heri Martono 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 • Aug 25
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: Rp452.4b (up 12% from 2Q 2021). Net loss: Rp6.05b (loss narrowed 64% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. 공고 • Jul 30
PT. Mandom Indonesia Tbk Ordinary Shares to Be Deleted from OTC Equity PT. Mandom Indonesia Tbk Ordinary Shares (Indonesia) will be deleted from OTC Equity effective from July 29, 2022, due to Inactive Security. Board Change • Apr 27
Less than half of directors are independent There are 6 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: 1 independent director. 8 non-independent directors. Independent Commissioner Muhammad Makmun Arsyad was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Is New 90 Day High Low • Dec 09
New 90-day high: Rp6,800 The company is up 6.0% from its price of Rp6,425 on 10 September 2020. The Indonesian market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Personal Products industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day low: Rp6,275 The company is down 7.0% from its price of Rp6,750 on 19 August 2020. The Indonesian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 13% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total losses of Rp64.6b, with earnings decreasing by Rp221.5b from the prior year. Total revenue was Rp2.11t over the last 12 months, down 24% from the prior year. Is New 90 Day High Low • Oct 01
New 90-day low: Rp6,300 The company is down 16% from its price of Rp7,500 on 03 July 2020. The Indonesian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 10.0% over the same period.