Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp136, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 11x in the Airlines industry in Asia. Total loss to shareholders of 20% over the past three years. Announcement • May 19
PT Jaya Trishindo Tbk, Annual General Meeting, Jun 24, 2026 PT Jaya Trishindo Tbk, Annual General Meeting, Jun 24, 2026. New Risk • Apr 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 82% 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 Market cap is less than US$10m (Rp151.6b market cap, or US$8.94m). Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: Rp31.64 (vs Rp8.48 in FY 2024) Full year 2025 results: EPS: Rp31.64 (up from Rp8.48 in FY 2024). Revenue: Rp154.3b (up 18% from FY 2024). Net income: Rp26.4b (up 273% from FY 2024). Profit margin: 17% (up from 5.4% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 12
President Director recently bought Rp3.0m worth of stock On the 6th of February, Edwin Widjaja bought around 15k shares on-market at roughly Rp200 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth Rp24m. Edwin has been a buyer over the last 12 months, purchasing a net total of Rp55m worth in shares. Recent Insider Transactions • Feb 05
President Director recently bought Rp24m worth of stock On the 29th of January, Edwin Widjaja bought around 120k shares on-market at roughly Rp202 per share. This transaction amounted to 63% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Edwin has been a buyer over the last 12 months, purchasing a net total of Rp52m worth in shares. New Risk • Feb 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: Rp159.1b (US$9.54m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (Rp159.1b market cap, or US$9.54m). Minor Risk High level of debt (53% net debt to equity). Recent Insider Transactions • Nov 05
President Director recently bought Rp28m worth of stock On the 30th of October, Edwin Widjaja bought around 108k shares on-market at roughly Rp259 per share. This transaction increased Edwin's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Edwin's only on-market trade for the last 12 months. Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: Rp15.38 (vs Rp1.66 in 3Q 2024) Third quarter 2025 results: EPS: Rp15.38 (up from Rp1.66 in 3Q 2024). Revenue: Rp58.9b (up 62% from 3Q 2024). Net income: Rp12.8b (up Rp11.4b from 3Q 2024). Profit margin: 22% (up from 3.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. 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 Commissioner Andre Sahelangi was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 21
PT Jaya Trishindo Tbk, Annual General Meeting, Jun 26, 2025 PT Jaya Trishindo Tbk, Annual General Meeting, Jun 26, 2025. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: Rp1.66 (vs Rp0.49 loss in 3Q 2023) Third quarter 2024 results: EPS: Rp1.66 (up from Rp0.49 loss in 3Q 2023). Revenue: Rp36.4b (up 80% from 3Q 2023). Net income: Rp1.38b (up Rp1.79b from 3Q 2023). Profit margin: 3.8% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp270, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 10x in the Airlines industry in Asia. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Rp372, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 9x in the Airlines industry in Asia. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Rp490, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 9x in the Airlines industry in Asia. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 52% After last week's 52% share price gain to Rp176, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 10x in the Airlines industry in Asia. Total loss to shareholders of 39% over the past three years. Reported Earnings • Jul 23
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: Rp37.5b (up 238% from 2Q 2023). Net income: Rp1.45b (down 50% from 2Q 2023). Profit margin: 3.9% (down from 26% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to Rp189, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 10x in the Airlines industry in Asia. Total loss to shareholders of 41% over the past three years. New Risk • Jun 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: Rp140.8b (US$8.73m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Market cap is less than US$10m (Rp140.8b market cap, or US$8.73m). Minor Risk High level of debt (74% net debt to equity). Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to Rp525, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 10x in the Airlines industry in Asia. Total returns to shareholders of 46% over the past three years. Announcement • May 18
PT Jaya Trishindo Tbk, Annual General Meeting, Jun 24, 2024 PT Jaya Trishindo Tbk, Annual General Meeting, Jun 24, 2024. New Risk • Apr 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Revenue is less than US$5m (Rp69b revenue, or US$4.3m). Market cap is less than US$100m (Rp533.0b market cap, or US$33.0m). Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: Rp0.79 (vs Rp103 loss in FY 2022) Full year 2023 results: EPS: Rp0.79 (up from Rp103 loss in FY 2022). Revenue: Rp69.1b (up 55% from FY 2022). Net income: Rp654.3m (up Rp86.2b from FY 2022). Profit margin: 0.9% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: Rp3.41 (vs Rp0.13 in 2Q 2022) Second quarter 2023 results: EPS: Rp3.41 (up from Rp0.13 in 2Q 2022). Revenue: Rp11.1b (up 111% from 2Q 2022). Net income: Rp2.89b (up Rp2.79b from 2Q 2022). Profit margin: 26% (up from 2.0% in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 30
Third quarter 2022 earnings released: EPS: Rp1.35 (vs Rp3.12 in 3Q 2021) Third quarter 2022 results: EPS: Rp1.35 (down from Rp3.12 in 3Q 2021). Revenue: Rp15.0b (down 25% from 3Q 2021). Net income: Rp1.10b (down 57% from 3Q 2021). Profit margin: 7.3% (down from 13% in 3Q 2021). 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 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
First quarter 2022 earnings released: EPS: Rp0.25 (vs Rp0.56 in 1Q 2021) First quarter 2022 results: EPS: Rp0.25 (down from Rp0.56 in 1Q 2021). Revenue: Rp10.3b (down 30% from 1Q 2021). Net income: Rp207.6m (down 55% from 1Q 2021). Profit margin: 2.0% (down from 3.1% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Sep 05
Second quarter 2021 earnings released: Rp0.37 loss per share (vs Rp0.015 profit in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: Rp17.9b (up 71% from 2Q 2020). Net loss: Rp308.7m (down Rp320.9m from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Rp300, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 220x in the Airlines industry in Asia. Total returns to shareholders of 194% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 34% share price gain to Rp396, the stock trades at a trailing P/E ratio of 48x. Average trailing P/E is 39x in the Airlines industry in Asia. Total returns to shareholders of 257% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Rp372, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 19x in the Airlines industry globally. Total returns to shareholders of 158% over the past three years. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improved over the past week After last week's 40% share price gain to Rp494, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 19x in the Airlines industry globally. Total returns to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 16% share price gain to Rp252, the stock is trading at a trailing P/E ratio of 12.6x, up from the previous P/E ratio of 10.9x. This compares to an average P/E of 14x in the Airlines industry. Total returns to shareholders over the past year are 48%. Is New 90 Day High Low • Feb 18
New 90-day high: Rp238 The company is up 13% from its price of Rp210 on 20 November 2020. The Indonesian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Airlines industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day low: Rp194 The company is down 3.0% from its price of Rp200 on 23 October 2020. The Indonesian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Airlines industry, which is up 9.0% over the same period. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS Rp3.38 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: Rp55.2b (down 30% from 3Q 2019). Net income: Rp2.77b (down 48% from 3Q 2019). Profit margin: 5.0% (down from 6.7% in 3Q 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Oct 26
New 90-day high: Rp216 The company is up 8.0% from its price of Rp200 on 28 July 2020. The Indonesian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Airlines industry, which is up 11% over the same period. Is New 90 Day High Low • Sep 21
New 90-day low: Rp169 The company is down 35% from its price of Rp260 on 23 June 2020. The Indonesian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Airlines industry, which is up 10.0% over the same period.