Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp195, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 13x in the Insurance industry in Indonesia. Total loss to shareholders of 32% over the past three years. Announcement • May 20
PT Panin Financial Tbk, Annual General Meeting, Jun 30, 2026 PT Panin Financial Tbk, Annual General Meeting, Jun 30, 2026. New Risk • May 14
New major risk - Revenue and earnings growth Earnings have declined by 0.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp25.42 (vs Rp13.78 in 1Q 2025) First quarter 2026 results: EPS: Rp25.42 (up from Rp13.78 in 1Q 2025). Revenue: Rp3.03t (up 10% from 1Q 2025). Net income: Rp814.0b (up 85% from 1Q 2025). Profit margin: 27% (up from 16% in 1Q 2025). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • Apr 03
Full year 2025 earnings released: EPS: Rp54.47 (vs Rp51.97 in FY 2024) Full year 2025 results: EPS: Rp54.47 (up from Rp51.97 in FY 2024). Revenue: Rp10t (down 3.1% from FY 2024). Net income: Rp1.74t (up 4.8% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 12% per year. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to Rp334, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 15x in the Insurance industry in Indonesia. Total returns to shareholders of 3.1% over the past three years. Board Change • Oct 24
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. 2 non-independent directors. Independent President Director & Company Secretary Marwan Noor was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 05
PT Panin Financial Tbk, Annual General Meeting, Jun 26, 2025 PT Panin Financial Tbk, Annual General Meeting, Jun 26, 2025. Location: panin bank building, lantai 4. jl. jend., sudirman kav. 1, jakarta 10270 kota adm, jakarta pusat dki. jakarta indonesia, Indonesia Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: Rp15.59 (vs Rp13.32 in 3Q 2023) Third quarter 2024 results: EPS: Rp15.59 (up from Rp13.32 in 3Q 2023). Revenue: Rp6.10t (up Rp5.43t from 3Q 2023). Net income: Rp499.4b (up 17% from 3Q 2023). Profit margin: 8.2% (down from 64% in 3Q 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to Rp442, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 38x in the Insurance industry in Indonesia. Total returns to shareholders of 142% over the past three years. Buy Or Sell Opportunity • Aug 23
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to Rp378. The fair value is estimated to be Rp298, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 63% over the last 3 years, while earnings per share has been flat. Reported Earnings • Aug 03
Second quarter 2024 earnings released: EPS: Rp11.82 (vs Rp19.72 in 2Q 2023) Second quarter 2024 results: EPS: Rp11.82 (down from Rp19.72 in 2Q 2023). Revenue: Rp5.04t (up Rp4.35t from 2Q 2023). Net income: Rp378.4b (down 40% from 2Q 2023). Profit margin: 7.5% (down from 91% in 2Q 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp364, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 22x in the Insurance industry in Indonesia. Total returns to shareholders of 103% over the past three years. New Risk • May 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 9.5% 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 Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to Rp358, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 24x in the Insurance industry in Indonesia. Total returns to shareholders of 87% over the past three years. Announcement • May 24
PT Panin Financial Tbk, Annual General Meeting, Jun 27, 2024 PT Panin Financial Tbk, Annual General Meeting, Jun 27, 2024. Location: jakarta Indonesia New Risk • Apr 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. 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 Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp296, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 18x in the Insurance industry in Indonesia. Total returns to shareholders of 40% over the past three years. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: Rp13.32 (vs Rp15.12 in 3Q 2022) Third quarter 2023 results: EPS: Rp13.32 (down from Rp15.12 in 3Q 2022). Revenue: Rp662.6b (down 6.3% from 3Q 2022). Net income: Rp426.5b (down 12% from 3Q 2022). Profit margin: 64% (down from 69% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: Rp19.72 (vs Rp15.71 in 2Q 2022) Second quarter 2023 results: EPS: Rp19.72 (up from Rp15.71 in 2Q 2022). Revenue: Rp680.7b (up 28% from 2Q 2022). Net income: Rp631.5b (up 26% from 2Q 2022). Profit margin: 93% (down from 94% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp330, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 37x in the Insurance industry in Indonesia. Total returns to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp334, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 13x in the Insurance industry in Indonesia. Total returns to shareholders of 112% over the past three years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to Rp436, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 12x in the Insurance industry in Indonesia. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Rp448, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 17x in the Insurance industry in Indonesia. Total returns to shareholders of 67% over the past three years. Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: Rp15.11 (vs Rp15.35 in 3Q 2021) Third quarter 2022 results: EPS: Rp15.11 (down from Rp15.35 in 3Q 2021). Revenue: Rp730.3b (down 16% from 3Q 2021). Net income: Rp484.0b (down 1.5% from 3Q 2021). Profit margin: 66% (up from 57% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Board Change • Nov 16
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. 2 non-independent directors. Independent President Director & Company Secretary Marwan Noor was the last independent director to join the board, commencing their role in 2010. 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 • Nov 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to Rp545, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 18x in the Insurance industry in Indonesia. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 17% share price gain to Rp745, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 16x in the Insurance industry in Indonesia. Total returns to shareholders of 167% over the past three years. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 16% share price gain to Rp575, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 18x in the Insurance industry in Indonesia. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 19% share price gain to Rp480, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 19x in the Insurance industry in Indonesia. Total returns to shareholders of 61% over the past three years. Reported Earnings • Sep 05
Second quarter 2022 earnings released: EPS: Rp15.71 (vs Rp14.52 in 2Q 2021) Second quarter 2022 results: EPS: Rp15.71 (up from Rp14.52 in 2Q 2021). Revenue: Rp547.4b (flat on 2Q 2021). Net income: Rp502.9b (up 8.2% from 2Q 2021). Profit margin: 92% (up from 84% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 18% share price gain to Rp416, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 20x in the Insurance industry in Indonesia. Total returns to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 16% share price gain to Rp446, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 18x in the Insurance industry in Indonesia. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 19% share price gain to Rp334, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 18x in the Insurance industry in Indonesia. Total loss to shareholders of 6.7% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 15% share price gain to Rp226, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 19x in the Insurance industry in Indonesia. Total loss to shareholders of 28% over the past three years. Board Change • Apr 27
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. 2 non-independent directors. Independent President Director & Company Secretary Marwan Noor was the last independent director to join the board, commencing their role in 2010. 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 • Apr 20
Investor sentiment improved over the past week After last week's 20% share price gain to Rp224, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 24x in the Insurance industry in Indonesia. Total loss to shareholders of 45% over the past three years. Reported Earnings • Dec 06
Third quarter 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2021 results: EPS: Rp15.35 (down from Rp17.89 in 3Q 2020). Revenue: Rp870.9b (up 21% from 3Q 2020). Net income: Rp491.6b (down 14% from 3Q 2020). Profit margin: 56% (down from 80% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) missed analyst estimates by 9.7%. Earnings per share (EPS) missed analyst estimates by 9.7%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 05
Second quarter 2021 earnings released: EPS Rp14.52 (vs Rp12.14 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: Rp560.4b (down 31% from 2Q 2020). Net income: Rp465.0b (up 20% from 2Q 2020). Profit margin: 83% (up from 48% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 05
Full year 2020 earnings released: EPS Rp58.08 (vs Rp61.69 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: Rp2.98t (down 34% from FY 2019). Net income: Rp1.86t (down 5.9% from FY 2019). Profit margin: 62% (up from 44% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 05
New 90-day high: Rp234 The company is up 15% from its price of Rp204 on 04 September 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 13% over the same period. Reported Earnings • Nov 29
Third quarter 2020 earnings released: EPS Rp17.89 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: Rp742.7b (down 31% from 3Q 2019). Net income: Rp572.7b (up 26% from 3Q 2019). Profit margin: 77% (up from 42% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 17
New 90-day high: Rp216 The company is up 7.0% from its price of Rp202 on 19 August 2020. The Indonesian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 8.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: Rp175 The company is down 7.0% from its price of Rp188 on 26 June 2020. The Indonesian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 3.0% over the same period. 