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 Rp905, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 173% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,677 per share. New Risk • Jun 15
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 Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 12x cash flows per share). Share price has been volatile over the past 3 months (13% average weekly change). Recent Insider Transactions • Jun 08
President Director recently bought Rp1.6b worth of stock On the 4th of June, Rudy Suhendra bought around 2m shares on-market at roughly Rp1,036 per share. This transaction amounted to 5.6% 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 Rudy's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp1,015, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 212% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,685 per share. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp1,180, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 256% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,751 per share. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: US$0.001 (vs US$0 in 1Q 2025) First quarter 2026 results: EPS: US$0.001 (up from US$0 in 1Q 2025). Revenue: US$136.9m (up 51% from 1Q 2025). Net income: US$29.8m (up 190% from 1Q 2025). Profit margin: 22% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 66% per year, which means it is significantly lagging earnings growth. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 26% 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 26% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Announcement • Apr 01
PT Archi Indonesia Tbk, Annual General Meeting, May 07, 2026 PT Archi Indonesia Tbk, Annual General Meeting, May 07, 2026. Reported Earnings • Mar 30
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: US$0.004 (up from US$0 in FY 2024). Revenue: US$496.2m (up 73% from FY 2024). Net income: US$101.8m (up US$91.4m from FY 2024). Profit margin: 21% (up from 3.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 33% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 26
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to Rp1,435. The fair value is estimated to be Rp1,867, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 93% in 2 years. Earnings are forecast to grow by 135% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp1,680, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 413% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,875 per share. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to Rp1,510, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 24x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 361% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,810 per share. Recent Insider Transactions • Jan 29
Vice President Commissioner recently sold Rp27b worth of stock On the 26th of January, Rizki Indrakusuma sold around 13m shares on-market at roughly Rp2,030 per share. This transaction amounted to 52% 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. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp1,950, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 24x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 432% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,823 per share. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to Rp1,715, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 430% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Rp1,756 per share. New Risk • Dec 11
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 244% Dividend yield: 2.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (112% net debt to equity). Dividend is not well covered by cash flows (244% cash payout ratio). Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: US$0.001 (vs US$0 in 3Q 2024) Third quarter 2025 results: EPS: US$0.001 (up from US$0 in 3Q 2024). Revenue: US$136.1m (up 88% from 3Q 2024). Net income: US$35.6m (up US$35.6m from 3Q 2024). Profit margin: 26% (up from 0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 31% growth forecast for the Metals and Mining industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. 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. 7 experienced directors. 3 highly experienced directors. No independent directors (4 non-independent directors). Independent Commissioner Jhoni Ginting 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. Insufficient board refreshment. Announcement • May 14
PT Archi Indonesia Tbk, Annual General Meeting, Jun 19, 2025 PT Archi Indonesia Tbk, Annual General Meeting, Jun 19, 2025. Location: jakarta Indonesia Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0 (vs US$0 in 3Q 2023) Third quarter 2024 results: EPS: US$0 (in line with 3Q 2023). Revenue: US$72.5m (up 27% from 3Q 2023). Net loss: US$7.1k (down 100% from profit in 3Q 2023). Profit margin: 0% (down from 6.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: US$85.8m (up 46% from 2Q 2023). Net income: US$296.2k (down 88% from 2Q 2023). Profit margin: 0.3% (down from 4.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Rp284, the stock trades at a trailing P/E ratio of 78.8x. Average trailing P/E is 20x in the Metals and Mining industry in Indonesia. Total loss to shareholders of 55% over the past three years. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: US$0.001 (vs US$0.001 in FY 2022) Full year 2023 results: EPS: US$0.001 (in line with FY 2022). Revenue: US$249.6m (up 15% from FY 2022). Net income: US$14.6m (flat on FY 2022). Profit margin: 5.8% (down from 6.7% in FY 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp452, the stock trades at a trailing P/E ratio of 70.3x. Average trailing P/E is 12x in the Metals and Mining industry in Indonesia. Total returns to shareholders of 39% over the past year. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: US$0 (vs US$0 in 3Q 2022) Third quarter 2023 results: EPS: US$0 (in line with 3Q 2022). Revenue: US$57.0m (up 24% from 3Q 2022). Net income: US$3.62m (up 243% from 3Q 2022). Profit margin: 6.4% (up from 2.3% in 3Q 2022). The increase in margin was driven by higher revenue. New Risk • Aug 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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 Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings have declined by 36% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: US$0 (vs US$0 in 2Q 2022) Second quarter 2023 results: EPS: US$0 (in line with 2Q 2022). Revenue: US$58.9m (up 49% from 2Q 2022). Net income: US$2.46m (down 48% from 2Q 2022). Profit margin: 4.2% (down from 12% in 2Q 2022). Reported Earnings • May 08
First quarter 2023 earnings released: EPS: US$0 (vs US$0 in 1Q 2022) First quarter 2023 results: EPS: US$0 (in line with 1Q 2022). Revenue: US$56.5m (down 30% from 1Q 2022). Net income: US$4.85m (down 49% from 1Q 2022). Profit margin: 8.6% (down from 12% in 1Q 2022). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 15% share price gain to Rp380, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 14x in the Metals and Mining industry in Indonesia. Total loss to shareholders of 19% over the past year. Board Change • Nov 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 3 experienced directors. 2 highly experienced directors. No independent directors (3 non-independent directors). Independent Commissioner Bambang Setiawan is the most experienced director on the board, commencing their role in 2013. Independent Commissioner Jhoni Ginting 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. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: US$0 (vs US$0.001 in 3Q 2021) Third quarter 2022 results: EPS: US$0 (down from US$0.001 in 3Q 2021). Revenue: US$46.0m (down 51% from 3Q 2021). Net income: US$1.06m (down 96% from 3Q 2021). Profit margin: 2.3% (down from 26% in 3Q 2021). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 16% share price gain to Rp374, the stock trades at a trailing P/E ratio of 11.2x. Average forward P/E is 19x in the Metals and Mining industry in Indonesia. Total loss to shareholders of 37% over the past year. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$0 (vs US$0.001 in 2Q 2021) Second quarter 2022 results: EPS: US$0 (down from US$0.001 in 2Q 2021). Revenue: US$39.5m (down 53% from 2Q 2021). Net income: US$4.70m (down 81% from 2Q 2021). Profit margin: 12% (down from 29% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 8.1% compared to a 56% growth forecast for the industry in Indonesia. Buying Opportunity • Jun 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be Rp468, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last year. Earnings per share has declined by 41%. Board Change • Apr 27
No independent directors There are 7 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: 7 new directors. 2 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Independent Commissioner Bambang Setiawan is the most experienced director on the board, commencing their role in 2013. Independent Commissioner Hamid Awaluddin was the last independent 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: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to Rp480, the stock trades at a trailing P/E ratio of 8.6x. Average forward P/E is 21x in the Metals and Mining industry in Indonesia. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 27% share price gain to Rp710, the stock trades at a trailing P/E ratio of 9.6x. Average forward P/E is 11x in the Metals and Mining industry in Indonesia.