New Risk • Jun 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 16% 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 Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks High level of debt (44% net debt to equity). Market cap is less than US$100m (Rp1.61t market cap, or US$89.9m). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp660, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 20x in the Telecom industry in Indonesia. Total returns to shareholders of 282% over the past three years. 공시 • May 23
PT Ketrosden Triasmitra, Annual General Meeting, Jun 18, 2026 PT Ketrosden Triasmitra, Annual General Meeting, Jun 18, 2026. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp600, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 23x in the Telecom industry in Indonesia. Total returns to shareholders of 216% over the past three years. Reported Earnings • May 07
Full year 2025 earnings released: EPS: Rp48.74 (vs Rp29.88 in FY 2024) Full year 2025 results: EPS: Rp48.74 (up from Rp29.88 in FY 2024). Revenue: Rp750.2b (up 35% from FY 2024). Net income: Rp138.5b (up 63% from FY 2024). Profit margin: 19% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to Rp555, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 22x in the Telecom industry in Indonesia. Total returns to shareholders of 225% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp390, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 19x in the Telecom industry in Indonesia. Total returns to shareholders of 125% over the past three years. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp560, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 21x in the Telecom industry in Indonesia. Total returns to shareholders of 177% over the past three years. New Risk • Feb 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.66t (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risks High level of debt (57% net debt to equity). Market cap is less than US$100m (Rp1.66t market cap, or US$98.1m). Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp795, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 23x in the Telecom industry in Indonesia. Total returns to shareholders of 240% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to Rp935, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 23x in the Telecom industry in Indonesia. Total returns to shareholders of 303% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to Rp775, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 23x in the Telecom industry in Indonesia. Total returns to shareholders of 243% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to Rp550, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 22x in the Telecom industry in Indonesia. Total returns to shareholders of 135% over the past three years. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp2.50 (vs Rp6.97 in 3Q 2024) Third quarter 2025 results: EPS: Rp2.50 (down from Rp6.97 in 3Q 2024). Revenue: Rp89.6b (down 12% from 3Q 2024). Net income: Rp7.09b (down 64% from 3Q 2024). Profit margin: 7.9% (down from 19% in 3Q 2024). Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp466, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 21x in the Telecom industry in Indonesia. Total returns to shareholders of 144% over the past year. Board Change • Oct 14
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. 3 non-independent directors. Independent Commissioner Agung Sampurna was the last independent director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • May 09
PT Ketrosden Triasmitra, Annual General Meeting, Jun 17, 2025 PT Ketrosden Triasmitra, Annual General Meeting, Jun 17, 2025. Location: jakarta Indonesia New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings have declined by 0.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 0.2% per year over the past 5 years. High level of non-cash earnings (20% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (17% net profit margin). Significant insider selling over the past 3 months (Rp1.5b sold). Market cap is less than US$100m (Rp556.9b market cap, or US$35.6m). Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: Rp6.97 (vs Rp17.33 in 3Q 2023) Third quarter 2024 results: EPS: Rp6.97 (down from Rp17.33 in 3Q 2023). Revenue: Rp102.0b (down 12% from 3Q 2023). Net income: Rp19.8b (down 60% from 3Q 2023). Profit margin: 19% (down from 42% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Recent Insider Transactions • Sep 28
President Commissioner recently sold Rp232m worth of stock On the 24th of September, Petrus Sartono sold around 1m shares on-market at roughly Rp208 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth Rp1.2b. Insiders have been net sellers, collectively disposing of Rp1.5b more than they bought in the last 12 months. Recent Insider Transactions • Sep 03
President Commissioner recently sold Rp8.7m worth of stock On the 30th of August, Petrus Sartono sold around 41k shares on-market at roughly Rp212 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth Rp1.2b. Insiders have been net sellers, collectively disposing of Rp1.2b more than they bought in the last 12 months. Recent Insider Transactions • Aug 02
President Commissioner recently sold Rp1.2b worth of stock On the 31st of July, Petrus Sartono sold around 6m shares on-market at roughly Rp204 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: Rp13.21 (vs Rp7.12 in 2Q 2023) Second quarter 2024 results: EPS: Rp13.21 (up from Rp7.12 in 2Q 2023). Revenue: Rp134.4b (up 24% from 2Q 2023). Net income: Rp37.5b (up 86% from 2Q 2023). Profit margin: 28% (up from 19% in 2Q 2023). The increase in margin was driven by higher revenue. New Risk • Apr 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 8.0% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 0.8% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (Rp659.2b market cap, or US$41.5m). New Risk • Apr 04
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 0.8% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risk Market cap is less than US$100m (Rp548.4b market cap, or US$34.5m). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to Rp186, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 25x in the Telecom industry in Indonesia. Total returns to shareholders of 8.8% over the past year. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: Rp27.28 (vs Rp27.56 in FY 2022) Full year 2023 results: EPS: Rp27.28. Revenue: Rp390.5b (up 11% from FY 2022). Net income: Rp77.5b (up 15% from FY 2022). Profit margin: 20% (in line with FY 2022). New Risk • Feb 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (23% accrual ratio). Minor Risk Market cap is less than US$100m (Rp636.4b market cap, or US$40.7m). Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp270, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 21x in the Telecom industry in Indonesia. Total returns to shareholders of 18% over the past year. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to Rp238, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 32x in the Communications industry in Asia. New Risk • Aug 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 5.1% per year over the past 5 years. Minor Risk Market cap is less than US$100m (Rp522.8b market cap, or US$34.5m). Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: Rp7.12 (vs Rp5.83 in 2Q 2022) Second quarter 2023 results: EPS: Rp7.12 (up from Rp5.83 in 2Q 2022). Revenue: Rp108.7b (up 34% from 2Q 2022). Net income: Rp20.2b (up 44% from 2Q 2022). Profit margin: 19% (up from 17% in 2Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp190, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 24x in the Communications industry in Asia. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 26% share price gain to Rp290, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 23x in the Communications industry in Asia. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improved over the past week After last week's 15% share price gain to Rp256, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 24x in the Communications industry in Asia. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Independent Commissioner Nelly Henry was the last independent director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.