Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp418, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 18x in the Shipping industry in Indonesia. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp400, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 16x in the Shipping industry in Indonesia. Total returns to shareholders of 45% over the past three years. Upcoming Dividend • May 26
Upcoming dividend of Rp42.00 per share Eligible shareholders must have bought the stock before 02 June 2026. Payment date: 18 June 2026. Payout ratio is on the higher end at 79% but the company is not cash flow positive. Trailing yield: 16%. Within top quartile of Indonesian dividend payers (6.5%). Higher than average of industry peers (1.2%). Aankondiging • May 21
PT Trans Power Marine Tbk announces Annual dividend, payable on June 18, 2026 PT Trans Power Marine Tbk announced Annual dividend of IDR 42.0000 per share payable on June 18, 2026, ex-date on June 02, 2026 and record date on June 03, 2026. New Risk • May 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.75t (US$99.6m) 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: Minor Risks High level of debt (68% net debt to equity). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (Rp1.75t market cap, or US$99.6m). 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: 11% Last year net profit margin: 22% 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: Minor Risks High level of debt (66% net debt to equity). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (11% net profit margin). Aankondiging • Apr 11
PT Trans Power Marine Tbk, Annual General Meeting, May 19, 2026 PT Trans Power Marine Tbk, Annual General Meeting, May 19, 2026. Reported Earnings • Apr 01
Full year 2025 earnings released: EPS: US$0.005 (vs US$0.008 in FY 2024) Full year 2025 results: EPS: US$0.005 (down from US$0.008 in FY 2024). Revenue: US$113.4m (down 4.8% from FY 2024). Net income: US$17.9m (down 29% from FY 2024). Profit margin: 16% (down from 21% in FY 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. No independent directors (4 non-independent directors). Independent Commissioner . Hongisisilia was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Aankondiging • Apr 28
PT Trans Power Marine Tbk (IDX:TPMA) announces an Equity Buyback for 100,000,000 shares, representing 2.85% for IDR 80,000 million. PT Trans Power Marine Tbk (IDX:TPMA) announces a share repurchase program. Under the program, the company will repurchase up to 100,000,000 shares, representing 2.85% of its issued share capital for IDR 80,000 million. The repurchases will be made at the share price as determined in accordance with the provisions of POJK 13 and POJK 29. The purpose of the program is to increase shareholder confidence by maintaining share prices so that the Company's share prices can reflect the Company's fundamental conditions. The program will be funded from company's internal funds. The program will be valid till July 28, 2025. As of April 28, 2025, the company has 10,939,900 treasury shares. Aankondiging • Mar 25
PT Trans Power Marine Tbk, Annual General Meeting, Apr 30, 2025 PT Trans Power Marine Tbk, Annual General Meeting, Apr 30, 2025. Location: jakarta Indonesia Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: US$0.002 (vs US$0.002 in 3Q 2023) Third quarter 2024 results: EPS: US$0.002 (in line with 3Q 2023). Revenue: US$58.5m (up 275% from 3Q 2023). Net income: US$6.97m (up 71% from 3Q 2023). Profit margin: 12% (down from 26% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0.002 (vs US$0.002 in 2Q 2023) Second quarter 2024 results: EPS: US$0.002 (in line with 2Q 2023). Revenue: US$14.9m (down 3.2% from 2Q 2023). Net income: US$4.96m (up 18% from 2Q 2023). Profit margin: 33% (up from 27% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Jul 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 9599x earnings per share. Cash payout ratio: 115% Minor Risk Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$0.002 (vs US$0.002 in 1Q 2023) First quarter 2024 results: EPS: US$0.002 (in line with 1Q 2023). Revenue: US$16.0m (down 6.4% from 1Q 2023). Net income: US$5.71m (up 17% from 1Q 2023). Profit margin: 36% (up from 28% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years, in line with the revenue forecast for the Shipping industry in Asia. 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 13% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: US$0.008 (vs US$0.005 in FY 2022) Full year 2023 results: EPS: US$0.008 (up from US$0.005 in FY 2022). Revenue: US$66.6m (up 6.0% from FY 2022). Net income: US$19.7m (up 38% from FY 2022). Profit margin: 30% (up from 23% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 1.0% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 30
Third quarter 2023 earnings released: EPS: US$0.002 (vs US$0.001 in 3Q 2022) Third quarter 2023 results: EPS: US$0.002 (up from US$0.001 in 3Q 2022). Revenue: US$15.6m (down 7.5% from 3Q 2022). Net income: US$4.08m (up 11% from 3Q 2022). Profit margin: 26% (up from 22% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 7.6% decline forecast for the Shipping industry in Asia. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp665, the stock trades at a trailing P/E ratio of 6.5x. Average forward P/E is 8x in the Shipping industry in Indonesia. Total returns to shareholders of 121% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,018 per share. Reported Earnings • Jul 31
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: US$15.3m (down 6.7% from 2Q 2022). Net income: US$4.20m (up 4.4% from 2Q 2022). Profit margin: 27% (up from 24% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 12% decline forecast for the Shipping industry in Asia. Valuation Update With 7 Day Price Move • May 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp402, the stock trades at a trailing P/E ratio of 4.1x. Average forward P/E is 8x in the Shipping industry in Indonesia. Total returns to shareholders of 129% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 24% share price gain to Rp488, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 9x in the Shipping industry in Indonesia. Total returns to shareholders of 109% over the past three years. 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. 4 non-independent directors. Independent Commissioner - Hongisisilia was the last independent director to join the board, commencing their role in 2012. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 02
Second quarter 2022 earnings released: EPS: US$0.002 (vs US$0 in 2Q 2021) Second quarter 2022 results: EPS: US$0.002 (up from US$0 in 2Q 2021). Revenue: US$16.5m (up 63% from 2Q 2021). Net income: US$4.02m (up 219% from 2Q 2021). Profit margin: 24% (up from 13% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 15% share price gain to Rp426, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 13x in the Shipping industry in Indonesia. Total returns to shareholders of 61% over the past three years. Buying Opportunity • Jul 16
Now 22% undervalued Over the last 90 days, the stock is up 2.8%. The fair value is estimated to be Rp472, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 31%. Buying Opportunity • Jul 01
Now 20% undervalued Over the last 90 days, the stock is up 4.4%. The fair value is estimated to be Rp477, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 31%. Buying Opportunity • Jun 13
Now 20% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be Rp455, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 31%. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorated over the past week After last week's 20% share price decline to Rp386, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 14x in the Shipping industry in Indonesia. Total returns to shareholders of 47% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 16% share price gain to Rp428, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 15x in the Shipping industry in Indonesia. Total returns to shareholders of 51% over the past three years. Buying Opportunity • May 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be Rp455, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 31%. Board Change • Apr 27
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. 4 non-independent directors. Independent Commissioner - Hongisisilia was the last independent director to join the board, commencing their role in 2012. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 16% share price gain to Rp368, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 17x in the Shipping industry in Indonesia. Total returns to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Rp410, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 13x in the Shipping industry in Indonesia. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorated over the past week After last week's 22% share price decline to Rp665, the stock trades at a trailing P/E ratio of 45.8x. Average trailing P/E is 10x in the Shipping industry in Indonesia. Total returns to shareholders of 248% over the past three years. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorated over the past week After last week's 24% share price decline to Rp710, the stock trades at a trailing P/E ratio of 49x. Average trailing P/E is 10x in the Shipping industry in Indonesia. Total returns to shareholders of 228% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 32% share price gain to US$960, the stock trades at a trailing P/E ratio of 66.3x. Average trailing P/E is 11x in the Shipping industry in Indonesia. Total returns to shareholders of 336% over the past three years. Board Change • Jul 28
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Commissioner - Hongisisilia was the last independent director to join the board, commencing their role in 2012. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 44% share price gain to US$500, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 11.8x. This compares to an average P/E of 10x in the Shipping industry in Indonesia. Total returns to shareholders over the past three years are 229%. Is New 90 Day High Low • Jan 12
New 90-day high: Rp400 The company is up 19% from its price of Rp336 on 15 October 2020. The Indonesian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 42% over the same period. Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 19% share price gain to US$382, the stock is trading at a trailing P/E ratio of 12.9x, up from the previous P/E ratio of 10.8x. This compares to an average P/E of 8x in the Shipping industry in Indonesia. Total returns to shareholders over the past three years are 171%. Is New 90 Day High Low • Oct 26
New 90-day low: Rp310 The company is down 8.0% from its price of Rp338 on 28 July 2020. The Indonesian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 34% over the same period. 