New Risk • Jun 09
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 Risk Market cap is less than US$10m (Rp152.7b market cap, or US$8.40m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (1.6% net profit margin). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to Rp114, the stock trades at a trailing P/E ratio of 52.8x. Average trailing P/E is 35x in the Packaging industry in Indonesia. Total loss to shareholders of 44% over the past year. New Risk • May 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: Rp150.5b (US$8.58m) 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 (Rp150.5b market cap, or US$8.58m). Minor Risk Profit margins are more than 30% lower than last year (1.6% net profit margin). Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp140, the stock trades at a trailing P/E ratio of 64.8x. Average trailing P/E is 40x in the Packaging industry in Indonesia. Total loss to shareholders of 35% over the past year. Duyuru • May 12
PT Paperocks Indonesia Tbk, Annual General Meeting, Jun 18, 2026 PT Paperocks Indonesia Tbk, Annual General Meeting, Jun 18, 2026. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp197, the stock trades at a trailing P/E ratio of 71.5x. Average trailing P/E is 26x in the Packaging industry in Indonesia. Total loss to shareholders of 18% over the past year. New Risk • Apr 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 3.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (1.9% net profit margin). Significant insider selling over the past 3 months (Rp2.1b sold). Market cap is less than US$100m (Rp201.0b market cap, or US$11.7m). Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp236, the stock trades at a trailing P/E ratio of 55.9x. Average trailing P/E is 33x in the Packaging industry in Indonesia. Total loss to shareholders of 5.1% over the past year. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp260, the stock trades at a trailing P/E ratio of 61.6x. Average trailing P/E is 34x in the Packaging industry in Indonesia. Total returns to shareholders of 24% over the past year. New Risk • Feb 05
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: Rp2.1b This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Significant insider selling over the past 3 months (Rp2.1b sold). Market cap is less than US$100m (Rp303.2b market cap, or US$17.9m). Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp318, the stock trades at a trailing P/E ratio of 75.3x. Average trailing P/E is 35x in the Packaging industry in Indonesia. Total returns to shareholders of 150% over the past year. Recent Insider Transactions • Dec 28
Commissioner recently bought Rp140m worth of stock On the 19th of December, Budi Mulyanto bought around 500k shares on-market at roughly Rp279 per share. This transaction amounted to less than 1% 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 Rp8.4b more in shares than they have sold in the last 12 months. New Risk • Nov 08
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: Rp8.4b This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (Rp8.4b sold). Market cap is less than US$100m (Rp350.5b market cap, or US$21.0m). Reported Earnings • Nov 05
Third quarter 2025 earnings released: EPS: Rp1.08 (vs Rp1.01 in 3Q 2024) Third quarter 2025 results: EPS: Rp1.08 (up from Rp1.01 in 3Q 2024). Revenue: Rp41.1b (up 25% from 3Q 2024). Net income: Rp1.15b (up 6.4% from 3Q 2024). Profit margin: 2.8% (down from 3.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Duyuru • May 07
PT Paperocks Indonesia Tbk, Annual General Meeting, May 07, 2025 PT Paperocks Indonesia Tbk, Annual General Meeting, May 07, 2025. Location: swiss-belinn cawang , jl. mt haryono no. 91 cawang jakarta timur kotaadm, jakarta timur dki. jakarta indonesia, Indonesia Reported Earnings • Nov 04
Third quarter 2024 earnings released Third quarter 2024 results: EPS: Rp1.01. Net income: Rp1.08b (up Rp1.08b from 3Q 2023). Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Rp123, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 28x in the Packaging industry in Indonesia. Total returns to shareholders of 60% over the past year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Rp138, the stock trades at a trailing P/E ratio of 42.5x. Average trailing P/E is 24x in the Packaging industry in Indonesia. Reported Earnings • Jul 30
Second quarter 2024 earnings released Second quarter 2024 results: Net income: Rp804.7m (up Rp804.7m from 2Q 2023). New Risk • Jul 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: Rp161.3b (US$10.00m) 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 (14% average weekly change). Market cap is less than US$10m (Rp161.3b market cap, or US$10.00m). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Rp150, the stock trades at a trailing P/E ratio of 53.4x. Average trailing P/E is 26x in the Packaging industry in Indonesia. New Risk • Jun 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 13% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Market cap is less than US$10m (Rp135.5b market cap, or US$8.40m). Duyuru • May 31
PT Paperocks Indonesia Tbk, Annual General Meeting, Jun 19, 2024 PT Paperocks Indonesia Tbk, Annual General Meeting, Jun 19, 2024. Location: sentral cawang hotel, jl. mt haryono no. 91, cawang jakarta timur kota adm., jakarta timur dki., jakarta Indonesia Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to Rp118, the stock trades at a trailing P/E ratio of 56.3x. Average trailing P/E is 26x in the Packaging industry in Indonesia. New Risk • Apr 03
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 8.3% 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 High level of non-cash earnings (69% accrual ratio). Market cap is less than US$10m (Rp66.7b market cap, or US$4.20m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (8.3% average weekly change). Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp60.00, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 20x in the Packaging industry in Indonesia. New Risk • Feb 05
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (69% accrual ratio). Market cap is less than US$10m (Rp87.1b market cap, or US$5.57m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp82.00, the stock trades at a trailing P/E ratio of 29.9x. Average trailing P/E is 23x in the Packaging industry in Indonesia. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to Rp64.00, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 22x in the Packaging industry in Indonesia. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to Rp100.00, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 30x in the Packaging industry in Indonesia. 
