New Risk • Jun 10
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 High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (9.1% net profit margin). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to Rp2,060, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Transportation industry in Asia. Total returns to shareholders of 145% over the past three years. Aankondiging • May 26
PT RMK Energy Tbk announces Annual dividend, payable on June 24, 2026 PT RMK Energy Tbk announced Annual dividend of IDR 30.0000 per share payable on June 24, 2026, ex-date on June 04, 2026 and record date on June 05, 2026. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp2,760, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Transportation industry in Asia. Total returns to shareholders of 221% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp12.67 (vs Rp12.00 in 1Q 2025) First quarter 2026 results: EPS: Rp12.67 (up from Rp12.00 in 1Q 2025). Revenue: Rp815.6b (up 142% from 1Q 2025). Net income: Rp55.4b (up 5.6% from 1Q 2025). Profit margin: 6.8% (down from 16% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Transportation industry in Asia. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. New Risk • May 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.1% Last year net profit margin: 13% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (9.1% net profit margin). Aankondiging • Apr 30
PT RMK Energy Tbk, Annual General Meeting, May 21, 2026 PT RMK Energy Tbk, Annual General Meeting, May 21, 2026. Location: jakarta barat secara elektronik melalui fasilitas, (easy.ksei) dalam tautan httpsakses.ksei.co., .id yang disediakan oleh pt kustodian sentral efek, indonesia (ksei). kota adm. jakarta barat dki., Indonesia Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Rp3,320, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 13x in the Transportation industry in Asia. Total returns to shareholders of 338% over the past three years. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: Rp55.27 (vs Rp65.84 in FY 2024) Full year 2025 results: EPS: Rp55.27 (down from Rp65.84 in FY 2024). Revenue: Rp2.22t (down 9.9% from FY 2024). Net income: Rp241.8b (down 16% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Transportation industry in Asia. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 56% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp4,040, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 13x in the Transportation industry in Asia. Total returns to shareholders of 469% over the past three years. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to Rp3,820, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 13x in the Transportation industry in Asia. Total returns to shareholders of 391% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp3,050, the stock trades at a trailing P/E ratio of 58.7x. Average trailing P/E is 12x in the Transportation industry in Indonesia. Total returns to shareholders of 205% over the past three years. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp11.69 (vs Rp16.39 in 3Q 2024) Third quarter 2025 results: EPS: Rp11.69 (down from Rp16.39 in 3Q 2024). Revenue: Rp546.7b (up 5.7% from 3Q 2024). Net income: Rp51.1b (down 29% from 3Q 2024). Profit margin: 9.4% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. New Risk • Oct 28
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 13% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp2,710, the stock trades at a trailing P/E ratio of 47.8x. Average trailing P/E is 11x in the Transportation industry in Indonesia. Total returns to shareholders of 182% over the past three years. Board Change • Oct 20
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 2 experienced directors. 2 highly experienced directors. No independent directors (5 non-independent directors). Director of Operations & Director William Saputra is the most experienced director on the board, commencing their role in 2011. Independent Commissioner Rokhmad Sunanto was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Aankondiging • Jun 17
PT RMK Energy Tbk, Annual General Meeting, Jun 17, 2025 PT RMK Energy Tbk, Annual General Meeting, Jun 17, 2025. Location: wisma rmk, lantai 4, jl. puri kencana blok m4 no.1, kembangan selatan, jakarta barat 11610 kota adm., jakarta barat dki. jakarta indonesia, jakarta Indonesia Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: Rp16.39 (vs Rp18.70 in 3Q 2023) Third quarter 2024 results: EPS: Rp16.39 (down from Rp18.70 in 3Q 2023). Revenue: Rp517.4b (down 7.2% from 3Q 2023). Net income: Rp71.7b (down 12% from 3Q 2023). Profit margin: 14% (in line with 3Q 2023). New Risk • Nov 01
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 133% Dividend yield: 1.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (133% cash payout ratio). Profit margins are more than 30% lower than last year (9.1% net profit margin). Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: Rp18.65 (vs Rp17.16 in 2Q 2023) Second quarter 2024 results: EPS: Rp18.65 (up from Rp17.16 in 2Q 2023). Revenue: Rp652.3b (up 25% from 2Q 2023). Net income: Rp81.6b (up 8.7% from 2Q 2023). Profit margin: 13% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp625, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 9x in the Transportation industry in Indonesia. Total loss to shareholders of 34% over the past year. Reported Earnings • Jun 06
First quarter 2024 earnings released: EPS: Rp10.19 (vs Rp28.69 in 1Q 2023) First quarter 2024 results: EPS: Rp10.19 (down from Rp28.69 in 1Q 2023). Revenue: Rp585.9b (down 23% from 1Q 2023). Net income: Rp44.6b (down 65% from 1Q 2023). Profit margin: 7.6% (down from 17% in 1Q 2023). The decrease in margin was driven by lower revenue. Aankondiging • May 25
PT RMK Energy Tbk, Annual General Meeting, Jun 28, 2024 PT RMK Energy Tbk, Annual General Meeting, Jun 28, 2024. Reported Earnings • Apr 05
Full year 2023 earnings released: EPS: Rp69.22 (vs Rp110 in FY 2022) Full year 2023 results: EPS: Rp69.22 (down from Rp110 in FY 2022). Revenue: Rp2.55t (down 6.6% from FY 2022). Net income: Rp302.9b (down 22% from FY 2022). Profit margin: 12% (down from 14% in FY 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: Rp17.15 (vs Rp23.70 in 2Q 2022) Second quarter 2023 results: EPS: Rp17.15 (down from Rp23.70 in 2Q 2022). Revenue: Rp520.7b (down 21% from 2Q 2022). Net income: Rp75.1b (down 28% from 2Q 2022). Profit margin: 14% (down from 16% in 2Q 2022). The decrease in margin was driven by lower revenue. New Risk • Jul 31
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp975, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 13x in the Transportation industry in Indonesia. Total returns to shareholders of 52% over the past year. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp915, the stock trades at a trailing P/E ratio of 10.3x. Average forward P/E is 16x in the Transportation industry in Indonesia. Total returns to shareholders of 122% over the past year. Reported Earnings • Apr 06
Full year 2022 earnings released: EPS: Rp110 (vs Rp56.13 in FY 2021) Full year 2022 results: EPS: Rp110 (up from Rp56.13 in FY 2021). Revenue: Rp2.73t (up 47% from FY 2021). Net income: Rp389.0b (up 95% from FY 2021). Profit margin: 14% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: Rp30.52 (vs Rp17.46 in 3Q 2021) Third quarter 2022 results: EPS: Rp30.52 (up from Rp17.46 in 3Q 2021). Revenue: Rp833.2b (up 15% from 3Q 2021). Net income: Rp133.5b (up 67% from 3Q 2021). Profit margin: 16% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 22% share price gain to Rp985, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 22x in the Transportation industry in Indonesia. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 18% share price gain to Rp720, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 18x in the Transportation industry in Indonesia. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to Rp585, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 17x in the Transportation industry in Indonesia. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 34% share price gain to Rp560, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 13x in the Transportation industry in Indonesia. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 21% share price gain to Rp474, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 9x in the Trade Distributors industry in Indonesia. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 16% share price gain to Rp426, the stock trades at a trailing P/E ratio of 31.8x. Average trailing P/E is 11x in the Trade Distributors industry in Indonesia. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improved over the past week After last week's 24% share price gain to Rp412, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 11x in the Trade Distributors industry in Indonesia. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 34% share price gain to Rp300, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 12x in the Trade Distributors industry in Indonesia. 