Valuation Update With 7 Day Price Move • 22h
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to Rp5,700, the stock trades at a trailing P/E ratio of 46.8x. Average trailing P/E is 9x in the Energy Services industry in Indonesia. Total returns to shareholders of 191% over the past three years. New Risk • Jun 08
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: Minor Risks Dividend is not well covered by earnings (91% payout ratio). Share price has been volatile over the past 3 months (13% average weekly change). Profit margins are more than 30% lower than last year (2.9% net profit margin). Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to Rp5,800, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 10x in the Energy Services industry in Indonesia. Total returns to shareholders of 210% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: US$0.001 loss per share (vs US$0.02 profit in 1Q 2025) First quarter 2026 results: US$0.001 loss per share (down from US$0.02 profit in 1Q 2025). Revenue: US$19.2m (down 80% from 1Q 2025). Net loss: US$664.4k (down 104% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 18
PT Citra Tubindo Tbk, Annual General Meeting, May 26, 2026 PT Citra Tubindo Tbk, Annual General Meeting, May 26, 2026. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: US$0.027 (vs US$0.033 in FY 2024) Full year 2025 results: EPS: US$0.027 (down from US$0.033 in FY 2024). Revenue: US$266.9m (up 5.1% from FY 2024). Net income: US$21.8m (down 17% from FY 2024). Profit margin: 8.2% (down from 10% 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 64% per year whereas the company’s share price has increased by 65% per year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp5,775, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 22x in the Energy Services industry in Indonesia. Total returns to shareholders of 231% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp6,700, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 28x in the Energy Services industry in Indonesia. Total returns to shareholders of 332% over the past three years. New Risk • Dec 11
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: Minor Risks Dividend is not well covered by earnings (91% payout ratio). Share price has been volatile over the past 3 months (13% average weekly change). Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp6,350, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 13x in the Energy Services industry in Indonesia. Total returns to shareholders of 341% over the past three years. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: US$0.006 (vs US$0.009 in 3Q 2024) Third quarter 2025 results: EPS: US$0.006 (down from US$0.009 in 3Q 2024). Revenue: US$93.2m (up 75% from 3Q 2024). Net income: US$4.92m (down 33% from 3Q 2024). Profit margin: 5.3% (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 increased by 86% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Board Change • Oct 24
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Finance Director & Director Saiful Mizra Kassim is the most experienced director on the board, commencing their role in 2021. Independent Commissioner Sudjono Suhardjo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Apr 29
PT Citra Tubindo Tbk, Annual General Meeting, Jun 12, 2025 PT Citra Tubindo Tbk, Annual General Meeting, Jun 12, 2025. Announcement • Nov 25
PT Cipta Krida Bahari agreed to acquire 99% stake in PT Sarana Citranusa Kabil/PT Citra Pembina from PT Citra Tubindo Tbk (IDX:CTBN) for €20 million. PT Cipta Krida Bahari agreed to acquire 99% stake in PT Sarana Citranusa Kabil/PT Citra Pembina from PT Citra Tubindo Tbk (IDX:CTBN) for €20 million on November 25, 2024. A cash consideration of €17.1 million will be paid by PT Cipta Krida Bahari. PT Cipta Krida Bahari will pay an earnout/contingent payment of €2.9 million cash.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is November 25, 2024 to December 31, 2024. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to Rp1,900, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 10x in the Energy Services industry in Indonesia. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to Rp2,000, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 10x in the Energy Services industry in Indonesia. Total loss to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Rp2,400, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 11x in the Energy Services industry in Indonesia. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to Rp2,200, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 10x in the Energy Services industry in Indonesia. Total loss to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to Rp1,600, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 8x in the Energy Services industry in Indonesia. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Rp1,300, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 10x in the Energy Services industry in Indonesia. Total loss to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp1,165, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 8x in the Energy Services industry in Indonesia. Total loss to shareholders of 56% over the past three years. Buy Or Sell Opportunity • May 22
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to Rp1,425. The fair value is estimated to be Rp1,161, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: US$0.004 (vs US$0.004 in 1Q 2023) First quarter 2024 results: EPS: US$0.004 (in line with 1Q 2023). Revenue: US$46.5m (down 3.8% from 1Q 2023). Net income: US$2.88m (down 20% from 1Q 2023). Profit margin: 6.2% (down from 7.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp1,425, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 9x in the Energy Services industry in Indonesia. Total loss to shareholders of 47% over the past three years. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp1,540, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 9x in the Energy Services industry in Indonesia. Total loss to shareholders of 47% over the past three years. New Risk • Apr 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risk Market cap is less than US$100m (Rp1.17t market cap, or US$73.6m). Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: US$0.023 (vs US$0.008 loss in FY 2022) Full year 2023 results: EPS: US$0.023 (up from US$0.008 loss in FY 2022). Revenue: US$208.2m (up 61% from FY 2022). Net income: US$18.6m (up US$25.3m from FY 2022). Profit margin: 9.0% (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 62% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp1,340, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 9x in the Energy Services industry in Indonesia. Total loss to shareholders of 65% over the past three years. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp1,205, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 9x in the Energy Services industry in Indonesia. Total loss to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to Rp1,345, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 8x in the Energy Services industry in Indonesia. Total loss to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to Rp1,090, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 7x in the Energy Services industry in Indonesia. Total loss to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp1,100, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 7x in the Energy Services industry in Indonesia. Total loss to shareholders of 64% over the past three years. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: US$0.01 (vs US$0.002 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.01 (up from US$0.002 loss in 3Q 2022). Revenue: US$62.1m (up 119% from 3Q 2022). Net income: US$7.36m (up US$8.78m from 3Q 2022). Profit margin: 12% (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 19% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Board Change • Sep 15
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. President Commissioner Laurent Dubedout was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 31
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. President Commissioner Laurent Dubedout was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: US$0.001 (vs US$0 in 2Q 2022) Second quarter 2023 results: EPS: US$0.001 (up from US$0 in 2Q 2022). Revenue: US$38.8m (down 15% from 2Q 2022). Net income: US$650.3k (up 367% from 2Q 2022). Profit margin: 1.7% (up from 0.3% in 2Q 2022). Board Change • Jul 26
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. President Commissioner Laurent Dubedout was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 03
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. President Commissioner Richard James Wiluan was the last 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. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 5 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Independent Commissioner Johanes Berchmans Pudjosukanto is the most experienced director on the board, commencing their role in 2010. They were also the last independent director to join the board. 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 • Nov 02
Third quarter 2022 earnings released: US$0.003 loss per share (vs US$0.003 loss in 3Q 2021) Third quarter 2022 results: US$0.003 loss per share (in line with 3Q 2021). Revenue: US$28.3m (up 78% from 3Q 2021). Net loss: US$1.42m (loss narrowed 35% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 03
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: US$45.6m (up 58% from 2Q 2021). Net income: US$139.2k (up US$1.08m from 2Q 2021). Profit margin: 0.3% (up from net loss in 2Q 2021). Board Change • Apr 28
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 6 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Independent Commissioner Johanes Berchmans Pudjosukanto is the most experienced director on the board, commencing their role in 2010. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Nov 05
Third quarter 2021 earnings released: US$0.003 loss per share (vs US$0.001 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$15.9m (down 50% from 3Q 2020). Net loss: US$2.18m (loss widened 100% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 12% per year. Valuation Update With 7 Day Price Move • Oct 29
Market bids up stock over the past week After last week's 18% share price gain to US$3,060, the stock is trading at a trailing P/E ratio of 77.1x, up from the previous P/E ratio of 65.5x. This compares to an average P/E of 13x in the Energy Services industry in Asia. Total return to shareholders over the past three years is a loss of 37%. Valuation Update With 7 Day Price Move • Oct 21
Market pulls back on stock over the past week After last week's 19% share price decline to US$2,730, the stock is trading at a trailing P/E ratio of 69.2x, down from the previous P/E ratio of 85.4x. This compares to an average P/E of 13x in the Energy Services industry in Asia. Total return to shareholders over the past three years is a loss of 44%.