Valuation Update With 7 Day Price Move • 9h
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp915, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 15x in the Specialty Retail industry in Indonesia. Total returns to shareholders of 38% over the past three years. Declared Dividend • May 30
Dividend increased to Rp170 Dividend of Rp170 is 42% higher than last year. Ex-date: 9th June 2026 Payment date: 25th June 2026 Dividend yield will be 15%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 7.5% to bring the payout ratio under control, which is less than the 15% EPS growth achieved over the last 5 years. Announcement • May 30
PT Mitra Pinasthika Mustika Tbk announces Annual dividend, payable on June 25, 2026 PT Mitra Pinasthika Mustika Tbk announced Annual dividend of IDR 170.0000 per share payable on June 25, 2026, ex-date on June 09, 2026 and record date on June 10, 2026. Buy Or Sell Opportunity • May 25
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to Rp1,035. The fair value is estimated to be Rp833, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has declined by 7.7%. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: Rp37.86 (vs Rp34.92 in 1Q 2025) First quarter 2026 results: EPS: Rp37.86 (up from Rp34.92 in 1Q 2025). Revenue: Rp4.00t (flat on 1Q 2025). Net income: Rp172.3b (up 13% from 1Q 2025). Profit margin: 4.3% (up from 3.8% in 1Q 2025). 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 5% per year. Announcement • Apr 18
PT Mitra Pinasthika Mustika Tbk, Annual General Meeting, May 26, 2026 PT Mitra Pinasthika Mustika Tbk, Annual General Meeting, May 26, 2026. Buy Or Sell Opportunity • Apr 10
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at Rp980. The fair value is estimated to be Rp814, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 5.8%. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: Rp104 (vs Rp133 in FY 2024) Full year 2025 results: EPS: Rp104 (down from Rp133 in FY 2024). Revenue: Rp16t (up 2.4% from FY 2024). Net income: Rp459.6b (down 21% from FY 2024). Profit margin: 2.8% (down from 3.7% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 8% per year. Recent Insider Transactions • Mar 06
MD, Group CFO recently bought Rp1.5b worth of stock On the 2nd of March, Beatrice Busono bought around 1m shares on-market at roughly Rp1,030 per share. This transaction amounted to 19% 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 Beatrice's only on-market trade for the last 12 months. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: Rp35.98 (vs Rp25.80 in 3Q 2024) Third quarter 2025 results: EPS: Rp35.98 (up from Rp25.80 in 3Q 2024). Revenue: Rp4.04t (down 2.8% from 3Q 2024). Net income: Rp157.0b (up 39% from 3Q 2024). Profit margin: 3.9% (up from 2.7% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year. Board Change • Oct 27
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. 3 non-independent directors. Independent Commissioner Benny Setyono was the last independent director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 29
PT Mitra Pinasthika Mustika Tbk announces Annual dividend, payable on June 26, 2025 PT Mitra Pinasthika Mustika Tbk announced Annual dividend of IDR 120.0000 per share payable on June 26, 2025, ex-date on June 11, 2025 and record date on June 12, 2025. Announcement • Apr 18
PT Mitra Pinasthika Mustika Tbk, Annual General Meeting, May 27, 2025 PT Mitra Pinasthika Mustika Tbk, Annual General Meeting, May 27, 2025. Reported Earnings • Nov 03
Third quarter 2024 earnings released: EPS: Rp25.44 (vs Rp35.99 in 3Q 2023) Third quarter 2024 results: EPS: Rp25.44 (down from Rp35.99 in 3Q 2023). Revenue: Rp4.15t (up 22% from 3Q 2023). Net income: Rp112.8b (down 28% from 3Q 2023). Profit margin: 2.7% (down from 4.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Specialty Retail industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: Rp37.30 (vs Rp30.38 in 2Q 2023) Second quarter 2024 results: EPS: Rp37.30 (up from Rp30.38 in 2Q 2023). Revenue: Rp3.81t (up 15% from 2Q 2023). Net income: Rp162.5b (up 23% from 2Q 2023). Profit margin: 4.3% (up from 4.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Specialty Retail industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 14% per year and the company’s share price has also increased by 14% per year. Recent Insider Transactions • Jun 08
Director recently bought Rp100m worth of stock On the 4th of June, Kemal Mawira bought around 93k shares on-market at roughly Rp1,070 per share. This transaction amounted to 89% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought Rp5.6b more in shares than they have sold in the last 12 months. Declared Dividend • Jun 03
Dividend of Rp115 announced Shareholders will receive a dividend of Rp115. Ex-date: 7th June 2024 Payment date: 28th June 2024 Dividend yield will be 11%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is covered by cash flows (61% cash payout ratio). The dividend has increased by an average of 39% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.8% to bring the payout ratio under control. EPS is expected to grow by 23% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • May 09
PT Mitra Pinasthika Mustika Tbk, Annual General Meeting, May 29, 2024 PT Mitra Pinasthika Mustika Tbk, Annual General Meeting, May 29, 2024. Location: lippo kuningan, lantai 26/26th floor, jl. h.r., rasuna said kav. b-12, karet kuningan kota adm., jakarta selatan dki. jakarta indonesia, jakarta Indonesia Reported Earnings • May 05
First quarter 2024 earnings released: EPS: Rp37.51 (vs Rp29.92 in 1Q 2023) First quarter 2024 results: EPS: Rp37.51 (up from Rp29.92 in 1Q 2023). Revenue: Rp3.88t (up 2.6% from 1Q 2023). Net income: Rp163.9b (up 26% from 1Q 2023). Profit margin: 4.2% (up from 3.4% in 1Q 2023). The increase in margin 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 only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: Rp120 (vs Rp131 in FY 2022) Full year 2023 results: EPS: Rp120 (down from Rp131 in FY 2022). Revenue: Rp14t (up 8.8% from FY 2022). Net income: Rp523.7b (down 7.9% from FY 2022). Profit margin: 3.8% (down from 4.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 23% per year. Recent Insider Transactions • Nov 09
President Commissioner recently bought Rp1.6b worth of stock On the 1st of November, Edwin Soeryadjaya bought around 2m shares on-market at roughly Rp1,000 per share. This transaction increased Edwin's direct individual holding by 12x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: Rp36.79 (vs Rp34.37 in 3Q 2022) Third quarter 2023 results: EPS: Rp36.79 (up from Rp34.37 in 3Q 2022). Revenue: Rp3.41t (down 1.2% from 3Q 2022). Net income: Rp157.1b (up 5.0% from 3Q 2022). Profit margin: 4.6% (up from 4.3% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 39% per year. Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: Rp30.80 (vs Rp14.59 in 2Q 2022) Second quarter 2023 results: EPS: Rp30.80 (up from Rp14.59 in 2Q 2022). Revenue: Rp3.31t (up 66% from 2Q 2022). Net income: Rp132.7b (up 109% from 2Q 2022). Profit margin: 4.0% (up from 3.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 5.2% p.a. on average during the next 2 years, while revenues in the Specialty Retail industry in Indonesia are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 04
First quarter 2023 earnings released: EPS: Rp29.86 (vs Rp33.73 in 1Q 2022) First quarter 2023 results: EPS: Rp29.86 (down from Rp33.73 in 1Q 2022). Revenue: Rp3.79t (up 22% from 1Q 2022). Net income: Rp130.4b (down 10% from 1Q 2022). Profit margin: 3.4% (down from 4.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 12% growth forecast for the Specialty Retail industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 32% per year. Price Target Changed • Apr 17
Price target increased by 9.4% to Rp1,450 Up from Rp1,325, the current price target is an average from 2 analysts. New target price is 12% above last closing price of Rp1,300. The company is forecast to post earnings per share of Rp110 for next year compared to Rp131 last year. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: Rp131 (vs Rp98.22 in FY 2021) Full year 2022 results: EPS: Rp131 (up from Rp98.22 in FY 2021). Revenue: Rp13t (down 1.3% from FY 2021). Net income: Rp568.8b (up 34% from FY 2021). Profit margin: 4.5% (up from 3.3% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Specialty Retail industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Mar 02
Now 21% undervalued Over the last 90 days, the stock is up 3.4%. The fair value is estimated to be Rp1,547, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 26% in 2 years. Earnings is forecast to grow by 0.9% in the next 2 years. Price Target Changed • Nov 16
Price target increased to Rp1,438 Up from Rp1,325, the current price target is an average from 2 analysts. New target price is 22% above last closing price of Rp1,180. The company is forecast to post earnings per share of Rp106 for next year compared to Rp98.22 last year. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: Rp94.58 (vs Rp26.65 in 3Q 2021) Third quarter 2022 results: EPS: Rp94.58 (up from Rp26.65 in 3Q 2021). Revenue: Rp3.45t (up 10% from 3Q 2021). Net income: Rp149.6b (up 30% from 3Q 2021). Profit margin: 4.3% (up from 3.7% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 12% per year. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to Rp960, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Specialty Retail industry in Asia. Total returns to shareholders of 71% over the past three years. Announcement • Jun 06
Trusty Cars Pte. Ltd. entered into an agreement to acquire 50% interest in PT Mitra Pinasthika Mustika Tbk for $53.8 million. Trusty Cars Pte. Ltd. entered into an agreement to acquire 50% interest in PT Mitra Pinasthika Mustika Tbk for $53.8 million on May 31, 2022. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 15% share price gain to Rp1,380, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Specialty Retail industry in Asia. Total returns to shareholders of 107% over the past three years. Price Target Changed • Apr 27
Price target increased to Rp1,575 Up from Rp1,325, the current price target is provided by 1 analyst. New target price is 15% above last closing price of Rp1,365. Stock is up 86% over the past year. The company is forecast to post earnings per share of Rp108 for next year compared to Rp98.22 last year. Board Change • Apr 27
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. Independent Commissioner Benny Redjo Setyono was the last independent director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improved over the past week After last week's 19% share price gain to Rp1,300, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 28x in the Specialty Retail industry in Indonesia. Total returns to shareholders of 118% over the past three years. Reported Earnings • Apr 05
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: Rp97.79 (up from Rp40.65 in FY 2020). Revenue: Rp13t (up 15% from FY 2020). Net income: Rp423.8b (up 142% from FY 2020). Profit margin: 3.3% (up from 1.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 19% share price gain to Rp985, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 40x in the Specialty Retail industry in Indonesia. Total returns to shareholders of 119% over the past three years. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS Rp26.92 (vs Rp18.85 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Rp3.13t (up 7.9% from 3Q 2020). Net income: Rp115.0b (up 42% from 3Q 2020). Profit margin: 3.7% (up from 2.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS Rp22.15 (vs Rp36.12 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Rp3.21t (up 85% from 2Q 2020). Net income: Rp94.4b (up Rp250.1b from 2Q 2020). Profit margin: 2.9% (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 28% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Rp710, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 63x in the Specialty Retail industry in Indonesia. Total returns to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improved over the past week After last week's 17% share price gain to Rp865, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 62x in the Specialty Retail industry in Indonesia. Total returns to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 24% share price gain to Rp680, the stock trades at a trailing P/E ratio of 55.4x. Average trailing P/E is 68x in the Specialty Retail industry in Indonesia. Total loss to shareholders of 2.5% over the past three years. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 25% share price gain to Rp580, the stock is trading at a trailing P/E ratio of 47.2x, up from the previous P/E ratio of 37.8x. This compares to an average P/E of 40x in the Specialty Retail industry in Indonesia. Total returns to shareholders over the past three years are 12%. Is New 90 Day High Low • Dec 21
New 90-day high: Rp580 The company is up 46% from its price of Rp398 on 23 September 2020. The Indonesian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: Rp496 The company is up 3.0% from its price of Rp480 on 27 August 2020. The Indonesian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is up 2.0% over the same period. Valuation Update With 7 Day Price Move • Nov 25
Market bids up stock over the past week After last week's 25% share price gain to Rp496, the stock is trading at a trailing P/E ratio of 40.4x, up from the previous P/E ratio of 32.3x. This compares to an average P/E of 36x in the Specialty Retail industry in Indonesia. Total return to shareholders over the past three years is a loss of 11%. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of Rp52.9b, down 85% from the prior year. Total revenue was Rp13t over the last 12 months, down 24% from the prior year. Is New 90 Day High Low • Oct 13
New 90-day low: Rp370 The company is down 24% from its price of Rp490 on 15 July 2020. The Indonesian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is down 3.0% over the same period. Announcement • Jul 30
PT Mitra Pinasthika Mustika Tbk (IDX:MPMX) acquired 6.1% stake in PT Asuransi Mitra Pelindung Mustika for IDR 81.4 billion. PT Mitra Pinasthika Mustika Tbk (IDX:MPMX) acquired 6.1% stake in PT Asuransi Mitra Pelindung Mustika for IDR 81.4 billion on June 17, 2020. Under the transaction, PT Mitra Pinasthika Mustika Tbk purchased 6,738 shares using its own cash.
PT Mitra Pinasthika Mustika Tbk (IDX:MPMX) completed the acquisition of 6.1% stake in PT Asuransi Mitra Pelindung Mustika on June 17, 2020. 
