Fast Food Indonesia Tbk PT

The company's capital structure is highly leveraged, with a debt-to-equity ratio of 8.89, indicating significant reliance on debt financing. Its liquidity position is weak, as evidenced by a current ratio of 0.33 and only 7.16 billion IDR in cash and equivalents, which is far below the 2.21 trillion IDR in long-term debt [doc:FAST.JK-FS-2023]. The negative net cash position after subtracting total debt raises concerns about short-term liquidity risk. Profitability metrics are deeply negative, with a return on equity of -147.37% and a return on assets of -7.4%. These figures are well below the industry median for Restaurants & Bars, which typically sees positive ROE and ROA in the 5-15% range. The company reported a net loss of 366.05 billion IDR and an operating loss of 311.66 billion IDR, despite generating 4.88 trillion IDR in revenue [doc:FAST.JK-FS-2023]. This suggests operational inefficiencies or pricing pressures. The company operates through a single business segment, with all revenue derived from franchised KFC and Taco Bell outlets. Geographically, it is entirely concentrated in Indonesia, with no disclosed international operations. This creates a high concentration risk, as the company's performance is entirely tied to the Indonesian market [doc:FAST.JK-10K-2023]. Growth appears to be stagnant or declining. Revenue in the latest period was 4.88 trillion IDR, with no disclosed year-over-year growth rate. The company's capital expenditures of 811.68 billion IDR were not offset by positive free cash flow, which was negative at 1.08 trillion IDR. This suggests the company is not generating sufficient cash to fund its operations and expansion [doc:FAST.JK-FS-2023]. The risk assessment highlights liquidity as a medium concern, with dilution risk rated as low. However, the negative net cash position and high debt-to-equity ratio indicate potential for future dilution if the company needs to raise capital. No recent equity issuance or ATM/shelf registration is disclosed, but the negative free cash flow suggests ongoing pressure to secure additional financing [doc:FAST.JK-FS-2023]. Recent events include the disclosure of a net loss in the latest financial report and a negative EPS of -99.00 IDR. No material litigation, regulatory actions, or major operational changes were disclosed in the latest filings. The company's financial performance appears to be deteriorating, with no clear turnaround strategy outlined in the available data [doc:FAST.JK-10K-2023].