View Future GrowthTIMAH 과거 순이익 실적과거 기준 점검 6/6TIMAH은 연평균 10.2%의 비율로 수입이 증가해 온 반면, Metals and Mining 산업은 수입이 8.1% 증가했습니다. 매출은 연평균 6.9%의 비율로 감소했습니다. TIMAH의 자기자본이익률은 27.1%이고 순이익률은 18.1%입니다.핵심 정보10.16%순이익 성장률10.16%주당순이익(EPS) 성장률Metals and Mining 산업 성장률33.91%매출 성장률-6.90%자기자본이익률27.09%순이익률18.08%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트Reported Earnings • Apr 24Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: Rp176 (up from Rp159 in FY 2024). Revenue: Rp12t (up 6.4% from FY 2024). Net income: Rp1.31t (up 11% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 55% per year.Reported Earnings • Nov 04Third quarter 2025 earnings released: EPS: Rp40.77 (vs Rp63.69 in 3Q 2024)Third quarter 2025 results: EPS: Rp40.77 (down from Rp63.69 in 3Q 2024). Revenue: Rp2.39t (down 22% from 3Q 2024). Net income: Rp302.4b (down 36% from 3Q 2024). Profit margin: 13% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Nov 02Third quarter 2024 earnings released: EPS: Rp63.65 (vs Rp13.93 loss in 3Q 2023)Third quarter 2024 results: EPS: Rp63.65 (up from Rp13.93 loss in 3Q 2023). Revenue: Rp3.04t (up 68% from 3Q 2023). Net income: Rp474.3b (up Rp578.0b from 3Q 2023). Profit margin: 16% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 03Second quarter 2024 earnings released: EPS: Rp53.75 (vs Rp4.57 loss in 2Q 2023)Second quarter 2024 results: EPS: Rp53.75 (up from Rp4.57 loss in 2Q 2023). Revenue: Rp3.16t (up 32% from 2Q 2023). Net income: Rp404.9b (up Rp438.9b from 2Q 2023). Profit margin: 13% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.Reported Earnings • May 16First quarter 2024 earnings released: EPS: Rp4.00 (vs Rp6.75 in 1Q 2023)First quarter 2024 results: EPS: Rp4.00 (down from Rp6.75 in 1Q 2023). Revenue: Rp2.06t (down 5.3% from 1Q 2023). Net income: Rp29.5b (down 41% from 1Q 2023). Profit margin: 1.4% (down from 2.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Metals and Mining industry in Indonesia. 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 17% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 30Full year 2023 earnings: Revenues in line with analyst expectationsFull year 2023 results: Revenue: Rp8.39t (down 33% from FY 2022). Net loss: Rp449.7b (down 143% from profit in FY 2022). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • May 19Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to Rp2,970, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 251% over the past three years.New Risk • May 08New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 12% 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: 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 (12% average weekly change).공시 • May 07PT TIMAH Tbk, Annual General Meeting, Jun 12, 2026PT TIMAH Tbk, Annual General Meeting, Jun 12, 2026.Reported Earnings • Apr 24Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: Rp176 (up from Rp159 in FY 2024). Revenue: Rp12t (up 6.4% from FY 2024). Net income: Rp1.31t (up 11% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 55% per year.Valuation Update With 7 Day Price Move • Mar 06Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to Rp3,760, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 25x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 265% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp7,112 per share.Valuation Update With 7 Day Price Move • Feb 17Investor sentiment improves as stock rises 21%After last week's 21% share price gain to Rp4,050, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 25x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 278% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp7,304 per share.Valuation Update With 7 Day Price Move • Feb 02Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to Rp2,970, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 24x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 170% over the past three years.Valuation Update With 7 Day Price Move • Dec 17Investor sentiment improves as stock rises 15%After last week's 15% share price gain to Rp3,480, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 233% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp3,842 per share.Buy Or Sell Opportunity • Dec 09Now 20% undervaluedOver the last 90 days, the stock has risen 180% to Rp3,050. The fair value is estimated to be Rp3,820, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.3% over the last 3 years. Earnings per share has grown by 9.0%. Revenue is forecast to grow by 134% in 2 years. Earnings are forecast to grow by 186% in the next 2 years.Buy Or Sell Opportunity • Nov 18Now 22% undervaluedOver the last 90 days, the stock has risen 199% to Rp3,050. The fair value is estimated to be Rp3,924, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.3% over the last 3 years. Earnings per share has grown by 9.0%. Revenue is forecast to grow by 116% in 2 years. Earnings are forecast to grow by 151% in the next 2 years.Valuation Update With 7 Day Price Move • Nov 10Investor sentiment improves as stock rises 17%After last week's 17% share price gain to Rp2,920, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 124% over the past three years.Reported Earnings • Nov 04Third quarter 2025 earnings released: EPS: Rp40.77 (vs Rp63.69 in 3Q 2024)Third quarter 2025 results: EPS: Rp40.77 (down from Rp63.69 in 3Q 2024). Revenue: Rp2.39t (down 22% from 3Q 2024). Net income: Rp302.4b (down 36% from 3Q 2024). Profit margin: 13% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Oct 24No independent directorsThere are 4 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: 4 new directors. 6 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Commissioner Rustam Effendi is the most experienced director on the board, commencing their role in 2020. Independent Commissioner Yuslih Ihza 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 experienced directors.Price Target Changed • Oct 24Price target increased by 40% to Rp1,983Up from Rp1,417, the current price target is an average from 3 analysts. New target price is 24% below last closing price of Rp2,600. Stock is up 102% over the past year. The company is forecast to post earnings per share of Rp129 for next year compared to Rp159 last year.공시 • May 07PT TIMAH Tbk, Annual General Meeting, Jun 12, 2025PT TIMAH Tbk, Annual General Meeting, Jun 12, 2025.Valuation Update With 7 Day Price Move • Nov 08Investor sentiment improves as stock rises 17%After last week's 17% share price gain to Rp1,480, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 19x in the Metals and Mining industry in Indonesia. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp756 per share.Reported Earnings • Nov 02Third quarter 2024 earnings released: EPS: Rp63.65 (vs Rp13.93 loss in 3Q 2023)Third quarter 2024 results: EPS: Rp63.65 (up from Rp13.93 loss in 3Q 2023). Revenue: Rp3.04t (up 68% from 3Q 2023). Net income: Rp474.3b (up Rp578.0b from 3Q 2023). Profit margin: 16% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 03Second quarter 2024 earnings released: EPS: Rp53.75 (vs Rp4.57 loss in 2Q 2023)Second quarter 2024 results: EPS: Rp53.75 (up from Rp4.57 loss in 2Q 2023). Revenue: Rp3.16t (up 32% from 2Q 2023). Net income: Rp404.9b (up Rp438.9b from 2Q 2023). Profit margin: 13% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.Price Target Changed • Jul 11Price target increased by 19% to Rp1,350Up from Rp1,135, the current price target is an average from 2 analysts. New target price is 34% above last closing price of Rp1,010. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of Rp118 next year compared to a net loss per share of Rp60.38 last year.Reported Earnings • May 16First quarter 2024 earnings released: EPS: Rp4.00 (vs Rp6.75 in 1Q 2023)First quarter 2024 results: EPS: Rp4.00 (down from Rp6.75 in 1Q 2023). Revenue: Rp2.06t (down 5.3% from 1Q 2023). Net income: Rp29.5b (down 41% from 1Q 2023). Profit margin: 1.4% (down from 2.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Metals and Mining industry in Indonesia. 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 17% per year, which means it has not declined as severely as earnings.New Risk • Apr 24New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 26x cash flows per share.Reported Earnings • Mar 30Full year 2023 earnings: Revenues in line with analyst expectationsFull year 2023 results: Revenue: Rp8.39t (down 33% from FY 2022). Net loss: Rp449.7b (down 143% from profit in FY 2022). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.Price Target Changed • Mar 29Price target increased by 13% to Rp1,485Up from Rp1,320, the current price target is an average from 2 analysts. New target price is 79% above last closing price of Rp830. Stock is down 19% over the past year. The company is forecast to post a net loss per share of Rp10.10 compared to earnings per share of Rp140 last year.New Risk • Mar 13New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.4% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change).Major Estimate Revision • Sep 08Consensus EPS estimates fall from profit to Rp10.10 loss, revenue upgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from Rp8.25b to Rp8.47b. Now expected to report loss of -Rp10.10 instead of Rp44.80 per share profit. Metals and Mining industry in Indonesia expected to see average net income growth of 22% next year. Consensus price target down from Rp1,250 to Rp1,025. Share price was steady at Rp885 over the past week.Reported Earnings • Sep 06Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp2.40t (down 22% from 2Q 2022). Net loss: Rp34.0b (down 107% from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 21% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 06First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: Rp2.17t (down 51% from 1Q 2022). Net income: Rp50.3b (down 92% from 1Q 2022). Profit margin: 2.3% (down from 14% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Indonesia are expected to grow by 27%. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 18Full year 2022 earnings: Revenues exceed analyst expectationsFull year 2022 results: Revenue: Rp13t (down 14% from FY 2021). Net income: Rp1.04t (down 20% from FY 2021). Profit margin: 8.3% (down from 8.9% in FY 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 10%. Revenue is expected to decline by 17% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Indonesia are expected to grow by 21%. Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 16Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to Rp970, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 184% over the past three years.Price Target Changed • Dec 27Price target increased to Rp1,775Up from Rp1,611, the current price target is an average from 2 analysts. New target price is 52% above last closing price of Rp1,170. Stock is down 21% over the past year. The company is forecast to post earnings per share of Rp219 for next year compared to Rp175 last year.Price Target Changed • Dec 07Price target decreased to Rp1,583Down from Rp1,748, the current price target is an average from 2 analysts. New target price is 35% above last closing price of Rp1,175. Stock is down 24% over the past year. The company is forecast to post earnings per share of Rp219 for next year compared to Rp175 last year.Board Change • Nov 16No independent directorsThere are 9 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: 9 new directors. 2 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director of Business Development & Director Alwin Albar is the most experienced director on the board, commencing their role in 2017. Independent Commissioner Agus Panjaitan 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.Price Target Changed • Sep 09Price target decreased to Rp1,982Down from Rp2,148, the current price target is an average from 2 analysts. New target price is 34% above last closing price of Rp1,480. Stock is down 3.6% over the past year. The company is forecast to post earnings per share of Rp244 for next year compared to Rp175 last year.Reported Earnings • Sep 07Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: Rp3.09t (down 9.9% from 2Q 2021). Net income: Rp480.6b (up 85% from 2Q 2021). Profit margin: 16% (up from 7.6% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Indonesia are expected to grow by 18%.Valuation Update With 7 Day Price Move • Jun 23Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to Rp1,510, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 37% over the past three years.Major Estimate Revision • May 31Consensus EPS estimates increase by 27%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from Rp16.7b to Rp17.2b. EPS estimate increased from Rp211 to Rp268 per share. Net income forecast to grow 0.8% next year vs 36% growth forecast for Metals and Mining industry in Indonesia. Consensus price target broadly unchanged at Rp2,148. Share price was steady at Rp1,810 over the past week.Board Change • Apr 27No independent directorsThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director of Operation and Production & Director Alwin Albar is the most experienced director on the board, commencing their role in 2017. Independent Commissioner Agus Panjaitan 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.Buying Opportunity • Apr 19Now 22% undervaluedOver the last 90 days, the stock is up 48%. The fair value is estimated to be Rp2,561, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings is forecast to decline by 14% per annum over the same time period.Price Target Changed • Mar 18Price target increased to Rp1,900Up from Rp1,438, the current price target is an average from 2 analysts. New target price is 16% above last closing price of Rp1,640. Stock is down 8.9% over the past year. The company is forecast to post earnings per share of Rp127 next year compared to a net loss per share of Rp45.17 last year.Valuation Update With 7 Day Price Move • Feb 24Investor sentiment improved over the past weekAfter last week's 18% share price gain to Rp1,615, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 20% over the past three years.Reported Earnings • Nov 15Third quarter 2021 earnings releasedThe company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: Rp3.83t (down 1.7% from 3Q 2020). Net income: Rp341.9b (up 153% from 3Q 2020). Profit margin: 8.9% (up from 3.5% 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 44% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings.Reported Earnings • Sep 05Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: Rp3.42t (down 4.7% from 2Q 2020). Net income: Rp259.7b (up Rp235.6b from 2Q 2020). Profit margin: 7.6% (up from 0.7% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance.Price Target Changed • May 23Price target increased to Rp1,575Up from Rp1,438, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of Rp1,570. Stock is up 241% over the past year.Price Target Changed • Apr 26Price target increased to Rp1,588Up from Rp1,390, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of Rp1,580. Stock is up 242% over the past year.Reported Earnings • Mar 15Full year 2020 earnings released: Rp45.17 loss per share (vs Rp81.74 loss in FY 2019)The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: Rp15t (down 21% from FY 2019). Net loss: Rp336.4b (loss narrowed 45% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 128 percentage points per year, which is a significant difference in performance.Is New 90 Day High Low • Feb 20New 90-day high: Rp2,390The company is up 116% from its price of Rp1,105 on 20 November 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 61% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp89.58 per share.Is New 90 Day High Low • Jan 21New 90-day high: Rp2,360The company is up 179% from its price of Rp845 on 23 October 2020. The Indonesian market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 85% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp18,393 per share.Is New 90 Day High Low • Jan 04New 90-day high: Rp1,615The company is up 131% from its price of Rp700 on 07 October 2020. The Indonesian market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 66% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp194 per share.Is New 90 Day High Low • Dec 04New 90-day high: Rp1,225The company is up 49% from its price of Rp820 on 04 September 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp168 per share.Price Target Changed • Nov 11Price target raised to Rp976Up from Rp896, the current price target is an average from 5 analysts. The new target price is 7.3% above the current share price of Rp910. As of last close, the stock is up 14% over the past year.Is New 90 Day High Low • Nov 10New 90-day high: Rp930The company is up 22% from its price of Rp760 on 12 August 2020. The Indonesian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp168 per share.Reported Earnings • Nov 04Third quarter 2020 earnings released: EPS Rp17.76The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: Rp3.90t (down 21% from 3Q 2019). Net income: Rp135.3b (up Rp528.9b from 3Q 2019). Profit margin: 3.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 107% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Oct 14New 90-day high: Rp890The company is up 39% from its price of Rp640 on 16 July 2020. The Indonesian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp160 per share.매출 및 비용 세부 내역TIMAH가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이IDX:TINS 매출, 비용 및 순이익 (IDR Millions)날짜매출순이익일반관리비연구개발비31 Mar 2614,919,8992,697,511936,520031 Dec 2511,552,7331,313,630939,825030 Sep 259,209,358942,986887,839030 Jun 259,864,3981,114,954878,738031 Mar 2510,897,7171,336,664948,762031 Dec 2410,856,4221,249,347939,696030 Sep 2410,269,410546,5441,014,362030 Jun 249,034,591-31,4971,024,829031 Mar 248,277,216-470,426975,560031 Dec 238,391,907-449,690991,944030 Sep 238,699,921-192,0611,117,338030 Jun 239,594,723-24,2891,066,012031 Mar 2310,282,453490,2941,140,272031 Dec 2212,504,2971,041,4841,122,627030 Sep 2215,089,5201,836,8981,160,990030 Jun 2216,215,6952,114,7771,249,839031 Mar 2216,554,3931,893,9201,232,262031 Dec 2114,607,0031,303,2081,199,897030 Sep 2112,981,650529,9611,059,356030 Jun 2113,055,807323,178960,093031 Mar 2113,233,20386,441856,488031 Dec 2015,215,980-336,403902,427030 Sep 2016,718,197-682,577985,193030 Jun 2017,583,829-1,211,3541,113,948031 Mar 2019,603,232-1,319,7071,200,628031 Dec 1919,341,569-607,4131,222,375030 Sep 1918,771,612-247,2981,142,541030 Jun 1916,427,483224,1591,083,666031 Mar 1913,148,438428,5001,027,576031 Dec 1811,016,677183,867939,159030 Sep 189,397,972459,090912,122030 Jun 189,292,946529,104900,072031 Mar 189,204,482496,629806,113031 Dec 179,217,160508,927794,607030 Sep 178,997,067508,421738,910030 Jun 178,473,462455,153634,610031 Mar 177,713,764489,771630,445031 Dec 166,968,294282,912597,102030 Sep 166,324,022152,754590,581030 Jun 166,454,64272,418546,639031 Mar 166,802,475-30,982593,637031 Dec 156,874,192101,583604,512030 Sep 158,300,579226,619638,946030 Jun 157,984,230349,937682,7580양질의 수익: TINS는 고품질 수익을 보유하고 있습니다.이익 마진 증가: TINS의 현재 순 이익률 (18.1%)은 지난해 (12.3%)보다 높습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: TINS의 수익은 지난 5년 동안 연평균 10.2% 증가했습니다.성장 가속화: 지난 1년간 TINS 의 수익 증가율(101.8%)은 연간 평균(10.2%)을 초과합니다.수익 대 산업: TINS의 지난 1년 수익 증가율(101.8%)은 Metals and Mining 업계의 33.4%를 상회했습니다.자기자본이익률높은 ROE: TINS의 자본 수익률(27.1%)은 높음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YMaterials 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/21 07:58종가2026/05/21 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스PT TIMAH Tbk는 14명의 분석가가 다루고 있습니다. 이 중 4명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Andi HadiwidjojoBofA Global ResearchMichael EvansCGS InternationalEun Young LeeDBS Bank Ltd11명의 분석가 더 보기
Reported Earnings • Apr 24Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: Rp176 (up from Rp159 in FY 2024). Revenue: Rp12t (up 6.4% from FY 2024). Net income: Rp1.31t (up 11% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 55% per year.
Reported Earnings • Nov 04Third quarter 2025 earnings released: EPS: Rp40.77 (vs Rp63.69 in 3Q 2024)Third quarter 2025 results: EPS: Rp40.77 (down from Rp63.69 in 3Q 2024). Revenue: Rp2.39t (down 22% from 3Q 2024). Net income: Rp302.4b (down 36% from 3Q 2024). Profit margin: 13% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Nov 02Third quarter 2024 earnings released: EPS: Rp63.65 (vs Rp13.93 loss in 3Q 2023)Third quarter 2024 results: EPS: Rp63.65 (up from Rp13.93 loss in 3Q 2023). Revenue: Rp3.04t (up 68% from 3Q 2023). Net income: Rp474.3b (up Rp578.0b from 3Q 2023). Profit margin: 16% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 03Second quarter 2024 earnings released: EPS: Rp53.75 (vs Rp4.57 loss in 2Q 2023)Second quarter 2024 results: EPS: Rp53.75 (up from Rp4.57 loss in 2Q 2023). Revenue: Rp3.16t (up 32% from 2Q 2023). Net income: Rp404.9b (up Rp438.9b from 2Q 2023). Profit margin: 13% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: Rp4.00 (vs Rp6.75 in 1Q 2023)First quarter 2024 results: EPS: Rp4.00 (down from Rp6.75 in 1Q 2023). Revenue: Rp2.06t (down 5.3% from 1Q 2023). Net income: Rp29.5b (down 41% from 1Q 2023). Profit margin: 1.4% (down from 2.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Metals and Mining industry in Indonesia. 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 17% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 30Full year 2023 earnings: Revenues in line with analyst expectationsFull year 2023 results: Revenue: Rp8.39t (down 33% from FY 2022). Net loss: Rp449.7b (down 143% from profit in FY 2022). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • May 19Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to Rp2,970, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 251% over the past three years.
New Risk • May 08New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 12% 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: 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 (12% average weekly change).
공시 • May 07PT TIMAH Tbk, Annual General Meeting, Jun 12, 2026PT TIMAH Tbk, Annual General Meeting, Jun 12, 2026.
Reported Earnings • Apr 24Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: Rp176 (up from Rp159 in FY 2024). Revenue: Rp12t (up 6.4% from FY 2024). Net income: Rp1.31t (up 11% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 55% per year.
Valuation Update With 7 Day Price Move • Mar 06Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to Rp3,760, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 25x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 265% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp7,112 per share.
Valuation Update With 7 Day Price Move • Feb 17Investor sentiment improves as stock rises 21%After last week's 21% share price gain to Rp4,050, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 25x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 278% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp7,304 per share.
Valuation Update With 7 Day Price Move • Feb 02Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to Rp2,970, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 24x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 170% over the past three years.
Valuation Update With 7 Day Price Move • Dec 17Investor sentiment improves as stock rises 15%After last week's 15% share price gain to Rp3,480, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 233% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp3,842 per share.
Buy Or Sell Opportunity • Dec 09Now 20% undervaluedOver the last 90 days, the stock has risen 180% to Rp3,050. The fair value is estimated to be Rp3,820, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.3% over the last 3 years. Earnings per share has grown by 9.0%. Revenue is forecast to grow by 134% in 2 years. Earnings are forecast to grow by 186% in the next 2 years.
Buy Or Sell Opportunity • Nov 18Now 22% undervaluedOver the last 90 days, the stock has risen 199% to Rp3,050. The fair value is estimated to be Rp3,924, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.3% over the last 3 years. Earnings per share has grown by 9.0%. Revenue is forecast to grow by 116% in 2 years. Earnings are forecast to grow by 151% in the next 2 years.
Valuation Update With 7 Day Price Move • Nov 10Investor sentiment improves as stock rises 17%After last week's 17% share price gain to Rp2,920, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 124% over the past three years.
Reported Earnings • Nov 04Third quarter 2025 earnings released: EPS: Rp40.77 (vs Rp63.69 in 3Q 2024)Third quarter 2025 results: EPS: Rp40.77 (down from Rp63.69 in 3Q 2024). Revenue: Rp2.39t (down 22% from 3Q 2024). Net income: Rp302.4b (down 36% from 3Q 2024). Profit margin: 13% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 32% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Oct 24No independent directorsThere are 4 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: 4 new directors. 6 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Commissioner Rustam Effendi is the most experienced director on the board, commencing their role in 2020. Independent Commissioner Yuslih Ihza 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 experienced directors.
Price Target Changed • Oct 24Price target increased by 40% to Rp1,983Up from Rp1,417, the current price target is an average from 3 analysts. New target price is 24% below last closing price of Rp2,600. Stock is up 102% over the past year. The company is forecast to post earnings per share of Rp129 for next year compared to Rp159 last year.
공시 • May 07PT TIMAH Tbk, Annual General Meeting, Jun 12, 2025PT TIMAH Tbk, Annual General Meeting, Jun 12, 2025.
Valuation Update With 7 Day Price Move • Nov 08Investor sentiment improves as stock rises 17%After last week's 17% share price gain to Rp1,480, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 19x in the Metals and Mining industry in Indonesia. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp756 per share.
Reported Earnings • Nov 02Third quarter 2024 earnings released: EPS: Rp63.65 (vs Rp13.93 loss in 3Q 2023)Third quarter 2024 results: EPS: Rp63.65 (up from Rp13.93 loss in 3Q 2023). Revenue: Rp3.04t (up 68% from 3Q 2023). Net income: Rp474.3b (up Rp578.0b from 3Q 2023). Profit margin: 16% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 03Second quarter 2024 earnings released: EPS: Rp53.75 (vs Rp4.57 loss in 2Q 2023)Second quarter 2024 results: EPS: Rp53.75 (up from Rp4.57 loss in 2Q 2023). Revenue: Rp3.16t (up 32% from 2Q 2023). Net income: Rp404.9b (up Rp438.9b from 2Q 2023). Profit margin: 13% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.
Price Target Changed • Jul 11Price target increased by 19% to Rp1,350Up from Rp1,135, the current price target is an average from 2 analysts. New target price is 34% above last closing price of Rp1,010. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of Rp118 next year compared to a net loss per share of Rp60.38 last year.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: Rp4.00 (vs Rp6.75 in 1Q 2023)First quarter 2024 results: EPS: Rp4.00 (down from Rp6.75 in 1Q 2023). Revenue: Rp2.06t (down 5.3% from 1Q 2023). Net income: Rp29.5b (down 41% from 1Q 2023). Profit margin: 1.4% (down from 2.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Metals and Mining industry in Indonesia. 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 17% per year, which means it has not declined as severely as earnings.
New Risk • Apr 24New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 26x cash flows per share.
Reported Earnings • Mar 30Full year 2023 earnings: Revenues in line with analyst expectationsFull year 2023 results: Revenue: Rp8.39t (down 33% from FY 2022). Net loss: Rp449.7b (down 143% from profit in FY 2022). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.
Price Target Changed • Mar 29Price target increased by 13% to Rp1,485Up from Rp1,320, the current price target is an average from 2 analysts. New target price is 79% above last closing price of Rp830. Stock is down 19% over the past year. The company is forecast to post a net loss per share of Rp10.10 compared to earnings per share of Rp140 last year.
New Risk • Mar 13New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.4% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change).
Major Estimate Revision • Sep 08Consensus EPS estimates fall from profit to Rp10.10 loss, revenue upgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from Rp8.25b to Rp8.47b. Now expected to report loss of -Rp10.10 instead of Rp44.80 per share profit. Metals and Mining industry in Indonesia expected to see average net income growth of 22% next year. Consensus price target down from Rp1,250 to Rp1,025. Share price was steady at Rp885 over the past week.
Reported Earnings • Sep 06Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp2.40t (down 22% from 2Q 2022). Net loss: Rp34.0b (down 107% from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 21% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 06First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: Rp2.17t (down 51% from 1Q 2022). Net income: Rp50.3b (down 92% from 1Q 2022). Profit margin: 2.3% (down from 14% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Indonesia are expected to grow by 27%. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 18Full year 2022 earnings: Revenues exceed analyst expectationsFull year 2022 results: Revenue: Rp13t (down 14% from FY 2021). Net income: Rp1.04t (down 20% from FY 2021). Profit margin: 8.3% (down from 8.9% in FY 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 10%. Revenue is expected to decline by 17% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Indonesia are expected to grow by 21%. Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 16Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to Rp970, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 184% over the past three years.
Price Target Changed • Dec 27Price target increased to Rp1,775Up from Rp1,611, the current price target is an average from 2 analysts. New target price is 52% above last closing price of Rp1,170. Stock is down 21% over the past year. The company is forecast to post earnings per share of Rp219 for next year compared to Rp175 last year.
Price Target Changed • Dec 07Price target decreased to Rp1,583Down from Rp1,748, the current price target is an average from 2 analysts. New target price is 35% above last closing price of Rp1,175. Stock is down 24% over the past year. The company is forecast to post earnings per share of Rp219 for next year compared to Rp175 last year.
Board Change • Nov 16No independent directorsThere are 9 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: 9 new directors. 2 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director of Business Development & Director Alwin Albar is the most experienced director on the board, commencing their role in 2017. Independent Commissioner Agus Panjaitan 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.
Price Target Changed • Sep 09Price target decreased to Rp1,982Down from Rp2,148, the current price target is an average from 2 analysts. New target price is 34% above last closing price of Rp1,480. Stock is down 3.6% over the past year. The company is forecast to post earnings per share of Rp244 for next year compared to Rp175 last year.
Reported Earnings • Sep 07Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: Rp3.09t (down 9.9% from 2Q 2021). Net income: Rp480.6b (up 85% from 2Q 2021). Profit margin: 16% (up from 7.6% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Indonesia are expected to grow by 18%.
Valuation Update With 7 Day Price Move • Jun 23Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to Rp1,510, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 37% over the past three years.
Major Estimate Revision • May 31Consensus EPS estimates increase by 27%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from Rp16.7b to Rp17.2b. EPS estimate increased from Rp211 to Rp268 per share. Net income forecast to grow 0.8% next year vs 36% growth forecast for Metals and Mining industry in Indonesia. Consensus price target broadly unchanged at Rp2,148. Share price was steady at Rp1,810 over the past week.
Board Change • Apr 27No independent directorsThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director of Operation and Production & Director Alwin Albar is the most experienced director on the board, commencing their role in 2017. Independent Commissioner Agus Panjaitan 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.
Buying Opportunity • Apr 19Now 22% undervaluedOver the last 90 days, the stock is up 48%. The fair value is estimated to be Rp2,561, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings is forecast to decline by 14% per annum over the same time period.
Price Target Changed • Mar 18Price target increased to Rp1,900Up from Rp1,438, the current price target is an average from 2 analysts. New target price is 16% above last closing price of Rp1,640. Stock is down 8.9% over the past year. The company is forecast to post earnings per share of Rp127 next year compared to a net loss per share of Rp45.17 last year.
Valuation Update With 7 Day Price Move • Feb 24Investor sentiment improved over the past weekAfter last week's 18% share price gain to Rp1,615, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 20% over the past three years.
Reported Earnings • Nov 15Third quarter 2021 earnings releasedThe company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: Rp3.83t (down 1.7% from 3Q 2020). Net income: Rp341.9b (up 153% from 3Q 2020). Profit margin: 8.9% (up from 3.5% 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 44% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings.
Reported Earnings • Sep 05Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: Rp3.42t (down 4.7% from 2Q 2020). Net income: Rp259.7b (up Rp235.6b from 2Q 2020). Profit margin: 7.6% (up from 0.7% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance.
Price Target Changed • May 23Price target increased to Rp1,575Up from Rp1,438, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of Rp1,570. Stock is up 241% over the past year.
Price Target Changed • Apr 26Price target increased to Rp1,588Up from Rp1,390, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of Rp1,580. Stock is up 242% over the past year.
Reported Earnings • Mar 15Full year 2020 earnings released: Rp45.17 loss per share (vs Rp81.74 loss in FY 2019)The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: Rp15t (down 21% from FY 2019). Net loss: Rp336.4b (loss narrowed 45% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 128 percentage points per year, which is a significant difference in performance.
Is New 90 Day High Low • Feb 20New 90-day high: Rp2,390The company is up 116% from its price of Rp1,105 on 20 November 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 61% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp89.58 per share.
Is New 90 Day High Low • Jan 21New 90-day high: Rp2,360The company is up 179% from its price of Rp845 on 23 October 2020. The Indonesian market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 85% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp18,393 per share.
Is New 90 Day High Low • Jan 04New 90-day high: Rp1,615The company is up 131% from its price of Rp700 on 07 October 2020. The Indonesian market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 66% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp194 per share.
Is New 90 Day High Low • Dec 04New 90-day high: Rp1,225The company is up 49% from its price of Rp820 on 04 September 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp168 per share.
Price Target Changed • Nov 11Price target raised to Rp976Up from Rp896, the current price target is an average from 5 analysts. The new target price is 7.3% above the current share price of Rp910. As of last close, the stock is up 14% over the past year.
Is New 90 Day High Low • Nov 10New 90-day high: Rp930The company is up 22% from its price of Rp760 on 12 August 2020. The Indonesian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp168 per share.
Reported Earnings • Nov 04Third quarter 2020 earnings released: EPS Rp17.76The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: Rp3.90t (down 21% from 3Q 2019). Net income: Rp135.3b (up Rp528.9b from 3Q 2019). Profit margin: 3.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 107% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Oct 14New 90-day high: Rp890The company is up 39% from its price of Rp640 on 16 July 2020. The Indonesian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp160 per share.