New Risk • Aug 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 12% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 412% Paying a dividend despite having no free cash flows. Earnings have declined by 16% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (Rp351.6b market cap, or US$19.7m). Reported Earnings • Aug 01
Second quarter 2026 earnings released: EPS: Rp4.55 (vs Rp1.88 loss in 2Q 2025) Second quarter 2026 results: EPS: Rp4.55 (up from Rp1.88 loss in 2Q 2025). Revenue: Rp86.8b (up 23% from 2Q 2025). Net income: Rp6.22b (up Rp8.79b from 2Q 2025). Profit margin: 7.2% (up from net loss in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to Rp338, the stock trades at a trailing P/E ratio of 79.5x. Average trailing P/E is 10x in the Chemicals industry in Indonesia. Total loss to shareholders of 4.7% over the past three years. New Risk • Jun 02
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 Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (Rp444.2b market cap, or US$24.9m). Announcement • May 30
PT Asiaplast Industries Tbk announces Annual dividend, payable on June 26, 2026 PT Asiaplast Industries Tbk announced Annual dividend of IDR 44.0300 per share payable on June 26, 2026, ex-date on June 08, 2026 and record date on June 09, 2026. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp272, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 11x in the Chemicals industry in Indonesia. Total loss to shareholders of 11% over the past three years. Reported Earnings • May 01
First quarter 2026 earnings released: Rp1.58 loss per share (vs Rp1.70 loss in 1Q 2025) First quarter 2026 results: Rp1.58 loss per share (improved from Rp1.70 loss in 1Q 2025). Revenue: Rp73.0b (down 3.2% from 1Q 2025). Net loss: Rp2.16b (loss narrowed 6.8% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Apr 16
PT Asiaplast Industries Tbk, Annual General Meeting, May 26, 2026 PT Asiaplast Industries Tbk, Annual General Meeting, May 26, 2026. New Risk • Apr 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 453% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (Rp283.4b market cap, or US$16.7m). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp208, the stock trades at a trailing P/E ratio of 50.3x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total loss to shareholders of 29% over the past three years. Reported Earnings • Mar 30
Full year 2025 earnings released: EPS: Rp4.14 (vs Rp12.45 in FY 2024) Full year 2025 results: EPS: Rp4.14 (down from Rp12.45 in FY 2024). Revenue: Rp300.5b (down 25% from FY 2024). Net income: Rp5.64b (down 67% from FY 2024). Profit margin: 1.9% (down from 4.2% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp3.27 (vs Rp3.31 in 3Q 2024) Third quarter 2025 results: EPS: Rp3.27 (down from Rp3.31 in 3Q 2024). Revenue: Rp74.4b (down 27% from 3Q 2024). Net income: Rp4.42b (down 2.2% from 3Q 2024). Profit margin: 5.9% (up from 4.4% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 33% 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. 3 experienced directors. 4 highly experienced directors. No independent directors (4 non-independent directors). Independent Commissioner Susanto Tjioe was the last independent director to join the board, commencing their role in 2017. 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 15
PT Asiaplast Industries Tbk, Annual General Meeting, Jun 13, 2025 PT Asiaplast Industries Tbk, Annual General Meeting, Jun 13, 2025. Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: Rp3.31 (vs Rp10.72 in 3Q 2023) Third quarter 2024 results: EPS: Rp3.31 (down from Rp10.72 in 3Q 2023). Revenue: Rp102.2b (down 13% from 3Q 2023). Net income: Rp4.51b (down 69% from 3Q 2023). Profit margin: 4.4% (down from 12% 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 19% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: Rp3.83 (vs Rp7.60 in 2Q 2023) Second quarter 2024 results: EPS: Rp3.83 (down from Rp7.60 in 2Q 2023). Revenue: Rp99.9b (down 2.4% from 2Q 2023). Net income: Rp5.22b (down 50% from 2Q 2023). Profit margin: 5.2% (down from 10% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 42% per year. Buy Or Sell Opportunity • Jul 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to Rp605. The fair value is estimated to be Rp500, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 14
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 3.4% to Rp600. The fair value is estimated to be Rp494, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • May 27
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 6.2% to Rp600. The fair value is estimated to be Rp492, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: Rp5.49 (vs Rp11.84 in 1Q 2023) First quarter 2024 results: EPS: Rp5.49 (down from Rp11.84 in 1Q 2023). Revenue: Rp104.5b (down 20% from 1Q 2023). Net income: Rp7.48b (down 54% from 1Q 2023). Profit margin: 7.2% (down from 12% 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 58% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: Rp36.99 (vs Rp34.20 in FY 2022) Full year 2023 results: EPS: Rp36.99 (up from Rp34.20 in FY 2022). Revenue: Rp469.1b (down 11% from FY 2022). Net income: Rp50.4b (up 8.2% from FY 2022). Profit margin: 11% (up from 8.8% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to Rp565, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 14x in the Chemicals industry in Indonesia. Total returns to shareholders of 348% over the past three years. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: Rp7.59 (vs Rp5.15 in 2Q 2022) Second quarter 2023 results: EPS: Rp7.59 (up from Rp5.15 in 2Q 2022). Revenue: Rp102.3b (down 17% from 2Q 2022). Net income: Rp10.3b (up 47% from 2Q 2022). Profit margin: 10% (up from 5.7% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth. New Risk • Jul 12
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 9.1% 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 Share price has been volatile over the past 3 months (9.1% average weekly change). Market cap is less than US$100m (Rp615.9b market cap, or US$40.8m). Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to Rp484, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 16x in the Chemicals industry in Indonesia. Total returns to shareholders of 300% over the past three years. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Rp300, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Rp258, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total returns to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 39% share price gain to Rp256, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total returns to shareholders of 46% over the past three years. Board Change • Nov 16
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. 2 experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Commissioner Susanto Tjioe was the last independent director to join the board, commencing their role in 2017. 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 • Nov 02
Third quarter 2022 earnings released: EPS: Rp11.82 (vs Rp3.77 in 3Q 2021) Third quarter 2022 results: EPS: Rp11.82 (up from Rp3.77 in 3Q 2021). Revenue: Rp143.4b (up 35% from 3Q 2021). Net income: Rp16.1b (up 214% from 3Q 2021). Profit margin: 11% (up from 4.8% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 29% share price gain to Rp266, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 13x in the Chemicals industry in Indonesia. Total returns to shareholders of 142% over the past three years. Reported Earnings • Aug 04
Second quarter 2022 earnings released: EPS: Rp5.15 (vs Rp3.12 in 2Q 2021) Second quarter 2022 results: EPS: Rp5.15 (up from Rp3.12 in 2Q 2021). Revenue: Rp123.5b (up 31% from 2Q 2021). Net income: Rp7.02b (up 65% from 2Q 2021). Profit margin: 5.7% (up from 4.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 18% share price gain to Rp214, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 15x in the Chemicals industry in Indonesia. Total returns to shareholders of 81% over the past three years. Buying Opportunity • Jul 15
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 4.2%. The fair value is estimated to be Rp241, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Jun 05
First quarter 2022 earnings released: EPS: Rp5.17 (vs Rp1.93 in 1Q 2021) First quarter 2022 results: EPS: Rp5.17 (up from Rp1.93 in 1Q 2021). Revenue: Rp127.8b (up 34% from 1Q 2021). Net income: Rp7.04b (up 168% from 1Q 2021). Profit margin: 5.5% (up from 2.8% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. 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. 3 experienced directors. 3 highly experienced directors. 1 independent director (3 non-independent directors). Independent Commissioner Susanto Tjioe was the last independent director to join the board, commencing their role in 2017. 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 • Aug 05
Second quarter 2021 earnings released: EPS Rp3.12 (vs Rp1.66 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Rp94.2b (up 72% from 2Q 2020). Net income: Rp4.25b (up Rp6.51b from 2Q 2020). Profit margin: 4.5% (up from net loss in 2Q 2020). 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 26% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 04
New 90-day high: Rp220 The company is up 42% from its price of Rp155 on 04 December 2020. The Indonesian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is flat over the same period. Is New 90 Day High Low • Feb 01
New 90-day high: Rp210 The company is up 78% from its price of Rp118 on 04 November 2020. The Indonesian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: Rp208 The company is up 93% from its price of Rp108 on 15 October 2020. The Indonesian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: Rp202 The company is up 89% from its price of Rp107 on 30 September 2020. The Indonesian market is up 24% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 42% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: Rp164 The company is up 56% from its price of Rp105 on 11 September 2020. The Indonesian market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 50% over the same period. Reported Earnings • Dec 03
Third quarter 2020 earnings released: Rp1.02 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: Rp87.4b (down 26% from 3Q 2019). Net loss: Rp1.39b (down 141% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 19% share price gain to Rp143, the stock is trading at a trailing P/E ratio of 25x, up from the previous P/E ratio of 21x. This compares to an average P/E of 13x in the Chemicals industry in Indonesia. Total returns to shareholders over the past three years are 91%. Is New 90 Day High Low • Nov 25
New 90-day high: Rp133 The company is up 14% from its price of Rp117 on 26 August 2020. The Indonesian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 22% over the same period. Is New 90 Day High Low • Oct 27
New 90-day high: Rp125 The company is up 2.0% from its price of Rp122 on 29 July 2020. The Indonesian market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 16% share price gain to Rp116, the stock is trading at a trailing P/E ratio of 20.3x, up from the previous P/E ratio of 17.5x. This compares to an average P/E of 16x in the Chemicals industry in Indonesia. Total returns to shareholders over the past three years are 45%. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 16% share price gain to Rp116, the stock is trading at a trailing P/E ratio of 20.3x, up from the previous P/E ratio of 17.5x. This compares to an average P/E of 16x in the Chemicals industry in Indonesia. Total returns to shareholders over the past three years are 47%.