Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to Rp86.00, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 10x in the Building industry in Indonesia. Total returns to shareholders of 83% over the past three years. Buy Or Sell Opportunity • Jun 03
Now 28% undervalued Over the last 90 days, the stock has risen 27% to Rp104. The fair value is estimated to be Rp145, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 9.0%. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to Rp87.00, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 13x in the Building industry in Indonesia. Total returns to shareholders of 83% over the past three years. Upcoming Dividend • May 13
Upcoming dividend of Rp1.50 per share Eligible shareholders must have bought the stock before 20 May 2026. Payment date: 10 June 2026. Trailing yield: 2.7%. Lower than top quartile of Indonesian dividend payers (5.7%). Lower than average of industry peers (6.6%). Announcement • May 09
PT Ace Oldfields Tbk announces Annual dividend, payable on June 10, 2026 PT Ace Oldfields Tbk announced Annual dividend of IDR 1.5000 per share payable on June 10, 2026, ex-date on May 20, 2026 and record date on May 21, 2026. Buy Or Sell Opportunity • May 01
Now 23% undervalued Over the last 90 days, the stock has risen 9.7% to Rp113. The fair value is estimated to be Rp146, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 9.1%. Announcement • Apr 01
PT Ace Oldfields Tbk, Annual General Meeting, May 07, 2026 PT Ace Oldfields Tbk, Annual General Meeting, May 07, 2026. Reported Earnings • Mar 19
Full year 2025 earnings released: EPS: Rp8.16 (vs Rp8.74 in FY 2024) Full year 2025 results: EPS: Rp8.16 (down from Rp8.74 in FY 2024). Revenue: Rp187.0b (up 1.3% from FY 2024). Net income: Rp10.5b (down 6.7% from FY 2024). Profit margin: 5.6% (down from 6.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp73.00, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 10x in the Building industry in Indonesia. Total returns to shareholders of 67% over the past three years. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp78.00, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 10x in the Building industry in Indonesia. Total returns to shareholders of 65% over the past three years. New Risk • Jan 27
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. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (Rp130.6b market cap, or US$7.83m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (13% average weekly change). Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp93.00, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 11x in the Building industry in Indonesia. Total returns to shareholders of 94% over the past three years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to Rp91.00, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 10x in the Building industry in Indonesia. Total returns to shareholders of 68% over the past three years. Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: Rp0.38 (vs Rp0.46 in 3Q 2024) Third quarter 2025 results: EPS: Rp0.38 (down from Rp0.46 in 3Q 2024). Revenue: Rp38.1b (up 7.3% from 3Q 2024). Net income: Rp495.6m (down 17% from 3Q 2024). Profit margin: 1.3% (down from 1.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging 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. 4 experienced directors. 2 highly experienced directors. No independent directors (3 non-independent directors). Independent Commissioner Bambang Hendrajatin 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 • May 03
PT Ace Oldfields Tbk, Annual General Meeting, Jun 10, 2025 PT Ace Oldfields Tbk, Annual General Meeting, Jun 10, 2025. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: Rp0.46 (vs Rp0.65 in 3Q 2023) Third quarter 2024 results: EPS: Rp0.46 (down from Rp0.65 in 3Q 2023). Revenue: Rp35.5b (up 12% from 3Q 2023). Net income: Rp596.4m (down 28% from 3Q 2023). Profit margin: 1.7% (down from 2.6% in 3Q 2023). The decrease in margin was driven by higher expenses. 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 37% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Oct 23
President Director recently bought Rp26m worth of stock On the 21st of October, Josef Kandiawan bought around 500k shares on-market at roughly Rp52.99 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Josef has been a buyer over the last 12 months, purchasing a net total of Rp218m worth in shares. Recent Insider Transactions • Oct 15
President Director recently bought Rp10m worth of stock On the 9th of October, Josef Kandiawan bought around 200k shares on-market at roughly Rp52.00 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Josef has been a buyer over the last 12 months, purchasing a net total of Rp192m worth in shares. Recent Insider Transactions • Aug 18
President Director recently bought Rp8.0m worth of stock On the 15th of August, Josef Kandiawan bought around 160k shares on-market at roughly Rp50.00 per share. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Josef has been a buyer over the last 12 months, purchasing a net total of Rp181m worth in shares. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: Rp1.31 (vs Rp1.28 in 2Q 2023) Second quarter 2024 results: EPS: Rp1.31 (up from Rp1.28 in 2Q 2023). Revenue: Rp49.0b (up 6.0% from 2Q 2023). Net income: Rp1.70b (up 2.3% from 2Q 2023). Profit margin: 3.5% (in line with 2Q 2023). Recent Insider Transactions • Jul 30
President Director recently bought Rp6.0m worth of stock On the 26th of July, Josef Kandiawan bought around 120k shares on-market at roughly Rp49.99 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth Rp15m. Josef has been a buyer over the last 12 months, purchasing a net total of Rp173m worth in shares. Recent Insider Transactions • Jun 21
President Director recently bought Rp4.0m worth of stock On the 19th of June, Josef Kandiawan bought around 80k shares on-market at roughly Rp50.01 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth Rp28m. Josef has been a buyer over the last 12 months, purchasing a net total of Rp167m worth in shares. Recent Insider Transactions • May 11
President Director recently bought Rp15m worth of stock On the 8th of May, Josef Kandiawan bought around 300k shares on-market at roughly Rp50.00 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth Rp28m. Josef has been a buyer over the last 12 months, purchasing a net total of Rp163m worth in shares. Recent Insider Transactions • Mar 30
President Director recently bought Rp28m worth of stock On the 28th of March, Josef Kandiawan bought around 550k shares on-market at roughly Rp50.99 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth Rp33m. Josef has been a buyer over the last 12 months, purchasing a net total of Rp125m worth in shares. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: Rp7.35 (vs Rp6.08 in FY 2022) Full year 2023 results: EPS: Rp7.35 (up from Rp6.08 in FY 2022). Revenue: Rp161.7b (up 5.1% from FY 2022). Net income: Rp9.51b (up 21% from FY 2022). Profit margin: 5.9% (up from 5.1% in FY 2022). The increase in margin was driven by higher revenue. Recent Insider Transactions • Dec 20
President Director recently bought Rp26m worth of stock On the 14th of December, Josef Kandiawan bought around 500k shares on-market at roughly Rp51.01 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth Rp53m. This was Josef's only on-market trade for the last 12 months. Recent Insider Transactions • Dec 05
President Commissioner recently bought Rp53m worth of stock On the 29th of November, Dannie Tjiandra bought around 1m shares on-market at roughly Rp51.99 per share. This transaction amounted to 71% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought Rp100m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 24
President Commissioner recently bought Rp17m worth of stock On the 17th of November, Dannie Tjiandra bought around 328k shares on-market at roughly Rp51.00 per share. This transaction amounted to 66% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Oct 26
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: Rp31.8b (down 14% from 3Q 2022). Net income: Rp833.5m (down 51% from 3Q 2022). Profit margin: 2.6% (down from 4.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Jul 29
Second quarter 2023 earnings released: EPS: Rp1.28 (vs Rp0.035 in 2Q 2022) Second quarter 2023 results: EPS: Rp1.28 (up from Rp0.035 in 2Q 2022). Revenue: Rp46.2b (up 14% from 2Q 2022). Net income: Rp1.66b (up Rp1.61b from 2Q 2022). Profit margin: 3.6% (up from 0.1% in 2Q 2022). The increase in margin was driven by higher revenue. 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 Bambang Hendrajatin 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. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improved over the past week After last week's 24% share price gain to Rp87.00, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 13x in the Building industry in Indonesia. 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. 3 non-independent directors. Independent Commissioner Bambang Hendrajatin 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. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorated over the past week After last week's 21% share price decline to Rp84.00, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 12x in the Building industry in Indonesia. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Rp200, the stock trades at a trailing P/E ratio of 45x. Average trailing P/E is 12x in the Building industry in Indonesia.