New Risk • Jun 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: Rp176.0b (US$9.68m) This is considered a major 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 Risks Earnings have declined by 19% per year over the past 5 years. Market cap is less than US$10m (Rp176.0b market cap, or US$9.68m). Aankondiging • May 19
PT Megapolitan Developments Tbk, Annual General Meeting, Jun 24, 2026 PT Megapolitan Developments Tbk, Annual General Meeting, Jun 24, 2026. Reported Earnings • May 05
First quarter 2026 earnings released: Rp0.78 loss per share (vs Rp0.33 profit in 1Q 2025) First quarter 2026 results: Rp0.78 loss per share (down from Rp0.33 profit in 1Q 2025). Revenue: Rp45.4b (down 9.6% from 1Q 2025). Net loss: Rp2.60b (down 332% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2025 earnings released: Rp23.39 loss per share (vs Rp156 profit in FY 2024) Full year 2025 results: Rp23.39 loss per share (down from Rp156 profit in FY 2024). Revenue: Rp206.9b (down 85% from FY 2024). Net loss: Rp78.0b (down 115% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Rp110, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 23x in the Real Estate industry in Indonesia. Total loss to shareholders of 12% over the past three years. Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: Rp0.20 (vs Rp142 in 3Q 2024) Third quarter 2025 results: EPS: Rp0.20 (down from Rp142 in 3Q 2024). Revenue: Rp33.1b (down 96% from 3Q 2024). Net income: Rp675.5m (down 100% from 3Q 2024). Profit margin: 2.0% (down from 55% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Aankondiging • Mar 27
PT Megapolitan Developments Tbk, Annual General Meeting, May 20, 2025 PT Megapolitan Developments Tbk, Annual General Meeting, May 20, 2025. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp146, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 13x in the Real Estate industry in Indonesia. Total loss to shareholders of 21% over the past three years. Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: Rp142 (vs Rp4.81 loss in 3Q 2023) Third quarter 2024 results: EPS: Rp142 (up from Rp4.81 loss in 3Q 2023). Revenue: Rp866.2b (up Rp828.2b from 3Q 2023). Net income: Rp475.5b (up Rp491.6b from 3Q 2023). Profit margin: 55% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. New Risk • Oct 08
New major risk - Revenue and earnings growth Earnings have declined by 1.3% 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 Interest payments are not well covered by earnings (0.2x net interest cover). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 1.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (Rp425.5b market cap, or US$27.2m). New Risk • Jul 11
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 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: Major Risk Interest payments are not well covered by earnings (0.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (Rp428.8b market cap, or US$26.6m). Reported Earnings • May 17
First quarter 2024 earnings released: Rp2.35 loss per share (vs Rp5.37 loss in 1Q 2023) First quarter 2024 results: Rp2.35 loss per share (improved from Rp5.37 loss in 1Q 2023). Revenue: Rp43.6b (up 75% from 1Q 2023). Net loss: Rp7.89b (loss narrowed 56% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 02
Full year 2023 earnings released: Rp79.74 loss per share (vs Rp20.33 loss in FY 2022) Full year 2023 results: Rp79.74 loss per share (further deteriorated from Rp20.33 loss in FY 2022). Net loss: Rp270.4b (loss widened 297% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 22% 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 04
Third quarter 2023 earnings released: Rp4.81 loss per share (vs Rp5.67 loss in 3Q 2022) Third quarter 2023 results: Rp4.81 loss per share (improved from Rp5.67 loss in 3Q 2022). Revenue: Rp38.0b (up 26% from 3Q 2022). Net loss: Rp16.1b (loss narrowed 15% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. New Risk • Oct 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 11% 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 Interest payments are not well covered by earnings (0.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (Rp405.4b market cap, or US$26.0m). Reported Earnings • Aug 09
Second quarter 2023 earnings released: Rp4.07 loss per share (vs Rp4.52 loss in 2Q 2022) Second quarter 2023 results: Rp4.07 loss per share (improved from Rp4.52 loss in 2Q 2022). Revenue: Rp35.5b (down 9.5% from 2Q 2022). Net loss: Rp13.6b (loss narrowed 9.8% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 08
Full year 2022 earnings released: Rp20.46 loss per share (vs Rp307 profit in FY 2021) Full year 2022 results: Rp20.46 loss per share (down from Rp307 profit in FY 2021). Revenue: Rp153.4b (down 12% from FY 2021). Net loss: Rp68.1b (down 107% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Head of Business Unit Bogor & Karawaci, Project Director and Independent Director Radian Wahyudi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 06
Second quarter 2022 earnings released: Rp4.51 loss per share (vs Rp3.53 loss in 2Q 2021) Second quarter 2022 results: Rp4.51 loss per share (further deteriorated from Rp3.53 loss in 2Q 2021). Net loss: Rp15.1b (loss widened 28% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Apr 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 3 highly experienced directors. 1 independent director (3 non-independent directors). Head of Business Unit Bogor & Karawaci, Project Director and Independent Director Radian Wahyudi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 05
Second quarter 2021 earnings released: Rp3.53 loss per share (vs Rp4.88 loss in 2Q 2020) Second quarter 2021 results: Net loss: Rp11.8b (loss narrowed 28% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 06
First quarter 2021 earnings released: Rp1.92 loss per share (vs Rp3.96 loss in 1Q 2020) First quarter 2021 results: Net loss: Rp6.42b (loss narrowed 52% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 23
New 90-day low: Rp187 The company is down 6.0% from its price of Rp200 on 23 October 2020. The Indonesian market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: Rp202 The company is up 1.0% from its price of Rp200 on 02 October 2020. The Indonesian market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 02
New 90-day low: Rp189 The company is down 5.0% from its price of Rp200 on 03 September 2020. The Indonesian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 24% over the same period. Reported Earnings • Nov 26
Third quarter 2020 earnings released: Rp6.49 loss per share Third quarter 2020 results: Net loss: Rp21.7b (down Rp21.8b from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 115% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.