Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp242, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 10x in the Auto Components industry in Indonesia. Total returns to shareholders of 24% over the past three years. New Risk • Jun 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.77t (US$99.2m) 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 Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (Rp1.77t market cap, or US$99.2m). Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to Rp296, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 11x in the Auto Components industry in Indonesia. Total returns to shareholders of 39% over the past three years. Announcement • May 19
PT Indospring Tbk, Annual General Meeting, Jun 24, 2026 PT Indospring Tbk, Annual General Meeting, Jun 24, 2026. 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: 1.6% Last year net profit margin: 2.4% 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 Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp440, the stock trades at a trailing P/E ratio of 37.4x. Average trailing P/E is 11x in the Auto Components industry in Indonesia. Total returns to shareholders of 136% over the past three years. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to Rp460, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 10x in the Auto Components industry in Indonesia. Total returns to shareholders of 152% over the past three years. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: Rp11.77 (vs Rp10.61 in FY 2024) Full year 2025 results: EPS: Rp11.77 (up from Rp10.61 in FY 2024). Revenue: Rp3.30t (up 4.4% from FY 2024). Net income: Rp77.2b (up 11% from FY 2024). Profit margin: 2.3% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp510, the stock trades at a trailing P/E ratio of 48.6x. Average trailing P/E is 9x in the Auto Components industry in Indonesia. Total returns to shareholders of 186% over the past three years. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 38% After last week's 38% share price decline to Rp795, the stock trades at a trailing P/E ratio of 75.7x. Average trailing P/E is 8x in the Auto Components industry in Indonesia. Total returns to shareholders of 348% over the past three years. Recent Insider Transactions • Feb 18
Deputy President Director recently sold Rp171m worth of stock On the 13th of February, Lioe Ling sold around 90k shares on-market at roughly Rp1,897 per share. This transaction amounted to 55% 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 Lioe's only on-market trade for the last 12 months. Board Change • Feb 03
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. 7 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Independent Commissioner H. Burhanudin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to Rp745, the stock trades at a trailing P/E ratio of 71x. Average trailing P/E is 9x in the Auto Components industry in Indonesia. Total returns to shareholders of 329% over the past three years. New Risk • Jan 14
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 14% 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 Earnings have declined by 3.9% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (225% cash payout ratio). Share price has been volatile over the past 3 months (14% average weekly change). Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to Rp286, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 9x in the Auto Components industry in Indonesia. Total returns to shareholders of 64% over the past three years. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp2.76 (vs Rp1.80 in 3Q 2024) Third quarter 2025 results: EPS: Rp2.76 (up from Rp1.80 in 3Q 2024). Revenue: Rp904.9b (up 5.6% from 3Q 2024). Net income: Rp18.1b (up 53% from 3Q 2024). Profit margin: 2.0% (up from 1.4% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Oct 14
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. 7 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Independent Commissioner H. Burhanudin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Jun 26
PT Indospring Tbk announces Annual dividend, payable on July 25, 2025 PT Indospring Tbk announced Annual dividend of IDR 8.0000 per share payable on July 25, 2025, ex-date on July 03, 2025 and record date on July 04, 2025. Announcement • May 10
PT Indospring Tbk, Annual General Meeting, Jun 23, 2025 PT Indospring Tbk, Annual General Meeting, Jun 23, 2025. Reported Earnings • Nov 01
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: Rp857.0b (down 11% from 3Q 2023). Net income: Rp11.8b (down 85% from 3Q 2023). Profit margin: 1.4% (down from 8.3% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp304, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 12x in the Auto Components industry in Indonesia. Total returns to shareholders of 82% over the past three years. Reported Earnings • Aug 03
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: Rp746.1b (down 21% from 2Q 2023). Net income: Rp26.3b (down 47% from 2Q 2023). Profit margin: 3.5% (down from 5.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 25
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 9.3% 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 (9.3% average weekly change). Profit margins are more than 30% lower than last year (3.8% net profit margin). Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to Rp2,720, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 10x in the Auto Components industry in Indonesia. Total returns to shareholders of 65% over the past three years. Upcoming Dividend • Jun 18
Upcoming dividend of Rp100.00 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 12 July 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Indonesian dividend payers (6.8%). Higher than average of industry peers (2.6%). Announcement • May 08
PT Indospring Tbk, Annual General Meeting, Jun 12, 2024 PT Indospring Tbk, Annual General Meeting, Jun 12, 2024. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: Rp4,557 (vs Rp92.01 in 1Q 2023) First quarter 2024 results: EPS: Rp4,557. Revenue: Rp1.61t (up 56% from 1Q 2023). Net income: Rp29.9b (down 51% from 1Q 2023). Profit margin: 1.9% (down from 5.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Recent Insider Transactions • Apr 26
Human Capital Director recently bought Rp418k worth of stock On the 19th of April, Bob Budiono bought around 200 shares on-market at roughly Rp2,090 per share. This transaction increased Bob's direct individual holding by 100x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Bob's only on-market trade for the last 12 months. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: Rp279 (vs Rp320 in FY 2022) Full year 2023 results: EPS: Rp279 (down from Rp320 in FY 2022). Revenue: Rp3.80t (up 4.4% from FY 2022). Net income: Rp182.9b (down 13% from FY 2022). Profit margin: 4.8% (down from 5.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Jan 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.57t (US$99.2m) 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (Rp1.57t market cap, or US$99.2m). New Risk • Oct 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.55t (US$97.2m) 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 Dividend is not well covered by cash flows (130% cash payout ratio). Market cap is less than US$100m (Rp1.55t market cap, or US$97.2m). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to Rp2,800, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 12x in the Auto Components industry in Indonesia. Total returns to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp3,050, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 13x in the Auto Components industry in Indonesia. Total returns to shareholders of 68% over the past three years. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: Rp76.08 (vs Rp32.20 in 2Q 2022) Second quarter 2023 results: EPS: Rp76.08 (up from Rp32.20 in 2Q 2022). Revenue: Rp938.5b (up 3.5% from 2Q 2022). Net income: Rp49.9b (up 136% from 2Q 2022). Profit margin: 5.3% (up from 2.3% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 28
Upcoming dividend of Rp100.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 21 July 2023. Payout ratio is a comfortable 34% and the cash payout ratio is 91%. Trailing yield: 3.2%. Lower than top quartile of Indonesian dividend payers (5.6%). Higher than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp2,350, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 8x in the Auto Components industry in Indonesia. Total returns to shareholders of 52% over the past three years. Reported Earnings • Apr 16
Full year 2022 earnings released Full year 2022 results: Revenue: Rp3.64t (up 38% from FY 2021). Net income: Rp210.2b (up 33% from FY 2021). Profit margin: 5.8% (down from 6.0% in FY 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Nov 25
Third quarter 2022 earnings released: EPS: Rp112 (vs Rp83.54 in 3Q 2021) Third quarter 2022 results: EPS: Rp112 (up from Rp83.54 in 3Q 2021). Revenue: Rp971.5b (up 36% from 3Q 2021). Net income: Rp73.4b (up 34% from 3Q 2021). Profit margin: 7.6% (down from 7.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Human Capital Director, Finance & Accounting Director and Director Bob Budiono is the most experienced director on the board, commencing their role in 2013. Independent Commissioner H. Burhanudin was the last independent director to join the board, commencing their role in 2021. 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. Reported Earnings • Sep 06
Second quarter 2022 earnings released: EPS: Rp34.25 (vs Rp62.43 in 2Q 2021) Second quarter 2022 results: EPS: Rp34.25 (down from Rp62.43 in 2Q 2021). Revenue: Rp906.8b (up 53% from 2Q 2021). Net income: Rp28.6b (down 30% from 2Q 2021). Profit margin: 3.2% (down from 6.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors There are 7 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: 7 new directors. 1 experienced director. 1 highly experienced director. No independent directors (5 non-independent directors). Human Capital Director, Finance & Accounting Director and Director Bob Budiono is the most experienced director on the board, commencing their role in 2013. Independent Commissioner H. Burhanudin was the last independent director to join the board, commencing their role in 2021. 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. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 18% share price gain to Rp2,390, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 17x in the Auto Components industry in Indonesia. Total returns to shareholders of 20% over the past three years. Reported Earnings • Jul 03
First quarter 2021 earnings released: EPS Rp73.69 (vs Rp65.70 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: Rp580.0b (up 9.9% from 1Q 2020). Net income: Rp48.4b (up 12% from 1Q 2020). Profit margin: 8.3% (up from 8.2% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 17
Upcoming dividend of Rp85.00 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 10 June 2021. Trailing yield: 5.2%. Within top quartile of Indonesian dividend payers (4.8%). Higher than average of industry peers (1.9%). Is New 90 Day High Low • Jan 25
New 90-day low: Rp1,870 The company is down 3.0% from its price of Rp1,920 on 27 October 2020. The Indonesian market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 25% over the same period. Is New 90 Day High Low • Jan 06
New 90-day low: Rp1,875 The company is down 3.0% from its price of Rp1,940 on 09 October 2020. The Indonesian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 32% over the same period. Reported Earnings • Dec 03
Third quarter 2020 earnings released: EPS Rp13.51 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: Rp354.3b (down 37% from 3Q 2019). Net income: Rp8.86b (down 47% from 3Q 2019). Profit margin: 2.5% (down from 3.0% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Sep 25
New 90-day low: Rp1,870 The company is down 3.0% from its price of Rp1,935 on 26 June 2020. The Indonesian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is down 2.0% over the same period.