New Risk • Jul 01
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 Risks Interest payments are not well covered by earnings (2.5x net interest cover). High level of non-cash earnings (92% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (Rp65b sold). Market cap is less than US$100m (Rp1.30t market cap, or US$72.8m). Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp131, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 13x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp138, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 15x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 110% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp157, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 17x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 192% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp2.60 (vs Rp5.37 in 1Q 2025) First quarter 2026 results: EPS: Rp2.60 (down from Rp5.37 in 1Q 2025). Revenue: Rp1.27t (down 46% from 1Q 2025). Net income: Rp21.2b (down 51% from 1Q 2025). Profit margin: 1.7% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 01
Director recently sold Rp65b worth of stock On the 23rd of April, . Edie sold around 250m shares on-market at roughly Rp260 per share. This transaction amounted to 38% 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 the only on-market transaction from insiders over the last 12 months. New Risk • Apr 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.80t (US$104.6m) 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (52% accrual ratio). Minor Risk Market cap is less than US$100m (Rp1.80t market cap, or US$104.6m). Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to Rp206, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 16x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 190% over the past three years. Announcement • Apr 17
PT Estika Tata Tiara Tbk, Annual General Meeting, May 25, 2026 PT Estika Tata Tiara Tbk, Annual General Meeting, May 25, 2026. Reported Earnings • Apr 03
Full year 2025 earnings released: EPS: Rp15.90 (vs Rp12.68 in FY 2024) Full year 2025 results: EPS: Rp15.90 (up from Rp12.68 in FY 2024). Revenue: Rp6.47t (up 31% from FY 2024). Net income: Rp129.3b (up 26% from FY 2024). Profit margin: 2.0% (down from 2.1% 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 111% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp288, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 17x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 404% over the past three years. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp312, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 17x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 555% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to Rp342, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 20x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 547% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to Rp410, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 22x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 676% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to Rp505, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 24x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 856% over the past three years. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp625, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 24x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 1,123% over the past three years. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: Rp3.11 (vs Rp0.096 loss in 3Q 2024) Third quarter 2025 results: EPS: Rp3.11 (up from Rp0.096 loss in 3Q 2024). Revenue: Rp1.56t (up 22% from 3Q 2024). Net income: Rp25.3b (up Rp26.1b from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has only increased by 112% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp498, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 31x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 828% over the past three years. Announcement • Apr 11
PT Estika Tata Tiara Tbk, Annual General Meeting, May 16, 2025 PT Estika Tata Tiara Tbk, Annual General Meeting, May 16, 2025. Location: jakarta Indonesia Reported Earnings • Nov 05
Third quarter 2024 earnings released: Rp0.11 loss per share (vs Rp0.25 profit in 3Q 2023) Third quarter 2024 results: Rp0.11 loss per share (down from Rp0.25 profit in 3Q 2023). Revenue: Rp1.28t (up Rp1.20t from 3Q 2023). Net loss: Rp775.6m (down 143% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to Rp195, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 22x in the Consumer Retailing industry in Indonesia. Total returns to shareholders of 124% over the past three years. Reported Earnings • Aug 03
Second quarter 2024 earnings released: EPS: Rp3.73 (vs Rp4.84 in 2Q 2023) Second quarter 2024 results: EPS: Rp3.73 (down from Rp4.84 in 2Q 2023). Revenue: Rp1.13t (up 309% from 2Q 2023). Net income: Rp26.3b (down 55% from 2Q 2023). Profit margin: 2.3% (down from 21% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. New Risk • Jun 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (273% increase in shares outstanding). Minor Risk Market cap is less than US$100m (Rp1.46t market cap, or US$89.2m). New Risk • May 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (273% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (Rp1.60t market cap, or US$99.4m). New Risk • Apr 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.56t (US$96.8m) 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 Risk Shareholders have been substantially diluted in the past year (273% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (Rp1.56t market cap, or US$96.8m). New Risk • Apr 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 7.8% 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 Shareholders have been substantially diluted in the past year (273% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Reported Earnings • Apr 03
Full year 2023 earnings released: EPS: Rp30.29 (vs Rp49.68 loss in FY 2022) Full year 2023 results: EPS: Rp30.29 (up from Rp49.68 loss in FY 2022). Revenue: Rp611.8b (up Rp572.7b from FY 2022). Net income: Rp57.1b (up Rp150.7b from FY 2022). Profit margin: 9.3% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. New Risk • Jan 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: Rp1.56t (US$99.9m) 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 Risk Shareholders have been substantially diluted in the past year (273% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (Rp1.56t market cap, or US$99.9m). Reported Earnings • Dec 02
Third quarter 2023 earnings released: EPS: Rp0.26 (vs Rp14.07 loss in 3Q 2022) Third quarter 2023 results: EPS: Rp0.26 (up from Rp14.07 loss in 3Q 2022). Revenue: Rp81.9b (up Rp69.8b from 3Q 2022). Net income: Rp1.81b (up Rp28.3b from 3Q 2022). Profit margin: 2.2% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. New Risk • Nov 22
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 Risks Less than 1 year of cash runway based on free cash flow trend (-Rp34b free cash flow). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (273% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). New Risk • Sep 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 273% This is considered a major 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 Risks Less than 1 year of cash runway based on free cash flow trend (-Rp34b free cash flow). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (273% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (Rp878.9b market cap, or US$57.4m). Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: Rp4.84 (vs Rp0.81 loss in 2Q 2022) Second quarter 2023 results: EPS: Rp4.84 (up from Rp0.81 loss in 2Q 2022). Revenue: Rp277.0b (up Rp269.8b from 2Q 2022). Net income: Rp58.9b (up Rp60.4b from 2Q 2022). Profit margin: 21% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. New Risk • Jun 10
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: Rp56b (US$3.8m) This is considered a minor risk. Companies with a small amount of revenue 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 Less than 1 year of cash runway based on free cash flow trend (-Rp111b free cash flow). Negative equity (-Rp273b). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (Rp143.2b market cap, or US$9.62m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (Rp56b revenue, or US$3.8m). Reported Earnings • Jul 06
First quarter 2022 earnings released: Rp20.74 loss per share (vs Rp9.00 loss in 1Q 2021) First quarter 2022 results: Rp20.74 loss per share (down from Rp9.00 loss in 1Q 2021). Revenue: Rp7.76b (down 82% from 1Q 2021). Net loss: Rp39.1b (loss widened 127% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 43% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
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. 8 experienced directors. 1 highly experienced director. 1 independent director (5 non-independent directors). President Director Yustinus Sadmoko was the last director to join the board, commencing their role in 2014. 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 • Jul 10
First quarter 2021 earnings released: Rp9.00 loss per share (vs Rp88.00 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: Rp43.6b (down 88% from 1Q 2020). Net loss: Rp17.2b (loss narrowed 90% from 1Q 2020). Is New 90 Day High Low • Jan 27
New 90-day low: Rp136 The company is down 5.0% from its price of Rp143 on 27 October 2020. The Indonesian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 15% over the same period. Reported Earnings • Dec 20
Third quarter 2020 earnings released: Rp12.08 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: Rp203.0b (down 37% from 3Q 2019). Net loss: Rp23.2b (down 264% from profit in 3Q 2019). Is New 90 Day High Low • Nov 03
New 90-day low: Rp138 The company is down 27% from its price of Rp189 on 05 August 2020. The Indonesian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is down 4.0% over the same period. Is New 90 Day High Low • Sep 30
New 90-day low: Rp141 The company is down 36% from its price of Rp222 on 02 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 Consumer Retailing industry, which is down 9.0% over the same period.