Catur Sentosa Adiprana Tbk PT

The company's capital structure is characterized by a high debt-to-equity ratio of 1.35, indicating a significant reliance on debt financing. Its liquidity position is assessed as medium, with a current ratio of 1.06, suggesting limited short-term liquidity cushion. The price-to-book ratio of 0.45 indicates that the company's market value is below its book value, potentially signaling undervaluation or asset impairment concerns.

Profitability metrics reveal a weak return on equity of 0.78% and a return on assets of 0.23%, both significantly below typical thresholds for healthy returns in the retail sector. The company's operating margin is 2.91% (calculated from operating income of 115,358,259,000 IDR on revenue of 3,961,414,498,000 IDR), which is likely below the industry median for home improvement retailers.

Geographically, the company's revenue is concentrated in Indonesia, with no disclosed international operations. Segment-wise, the company operates as a single retail segment, with no material diversification across product lines or customer bases. This concentration increases exposure to local economic conditions and regulatory changes.

The company's growth trajectory is mixed. While the most recent reported revenue of 3,961,414,498,000 IDR represents a significant scale, the free cash flow is negative at -129,037,501,000 IDR, and capital expenditures are substantial at -415,742,646,000 IDR, indicating heavy reinvestment. Analyst estimates suggest a recent actual revenue of 9,639,478,870,000 IDR, but this appears to be a data inconsistency or misalignment with the company's reported figures.

Risk factors include a negative net cash position after subtracting total debt, which raises concerns about liquidity and financial flexibility. The company's dilution risk is assessed as low, with no significant dilution potential in the basic shares outstanding. However, the negative free cash flow and high capital expenditures suggest potential future financing needs that could lead to dilution.

Recent events include the latest financial reporting, which shows a net income of 26,583,761,000 IDR and a market price of 266.0 IDR per share. No recent filings or transcripts have been disclosed that would indicate material changes in the company's strategic direction or operational performance.

Free cash flow surged 155.3% year-over-year, indicating a significant improvement in the company's cash generation capabilities.

Operating income grew 17.3% year-over-year, demonstrating an ability to expand operational profits despite modest revenue growth.

Net income increased 13.0% year-over-year, showing resilience in bottom-line profitability amidst challenging market conditions.

The company generated positive free cash flow of 148.9 billion IDR in FY2018, marking a turnaround from previous deficits.

Long-term debt decreased to 4.37 trillion IDR in FY2018 from 4.91 trillion IDR in FY2017, suggesting deleveraging efforts.

The company faces high credit risk, signaling potential difficulties in meeting financial obligations or servicing existing debt.

Debt-to-equity ratio of 1.35 places the company in the bottom quartile of its peer cohort, indicating excessive leverage.

Return on equity of 0.78% trails the cohort median of 3.98%, suggesting inefficient use of shareholder capital.

Revenue CAGR of -1.6% over four years indicates a long-term decline in top-line growth momentum.

Revenue IDR 4.19T, +1,4% YoY; Operating income +5,6% YoY.

• ▍Revenue IDR 4.19T, +1,4% YoY
• ▍Operating income +5,6% YoY
• ▍Net income +360,6% YoY
• ▍Free cash flow +212,9% YoY
• ▍Net margin 0.5%

Revenue IDR 4.67T, +2,4% YoY; Operating income −12,6% YoY.

• ▍Revenue IDR 4.67T, +2,4% YoY
• ▍Operating income −12,6% YoY
• ▍Net income −15,9% YoY
• ▍Free cash flow −50,2% YoY
• ▍Net margin 1.0%

Revenue IDR 17.54T, +1,5% YoY; Operating income −16,4% YoY.

• ▍Revenue IDR 17.54T, +1,5% YoY
• ▍Operating income −16,4% YoY
• ▍Net income −39,2% YoY
• ▍Free cash flow +285,7% YoY
• ▍Net margin 0.6%

Revenue IDR 17.28T, +5,0% YoY; Operating income +4,4% YoY.

• ▍Revenue IDR 17.28T, +5,0% YoY
• ▍Operating income +4,4% YoY
• ▍Net income +1,3% YoY
• ▍Free cash flow +88,0% YoY
• ▍Net margin 1.1%

Revenue IDR 16.45T, +6,5% YoY; Operating income −9,6% YoY.

• ▍Revenue IDR 16.45T, +6,5% YoY
• ▍Operating income −9,6% YoY
• ▍Net income −23,7% YoY
• ▍Free cash flow −658,9% YoY
• ▍Net margin 1.1%