Jakarta International Hotels & Development Tbk PT

The company's capital structure is characterized by a low debt-to-equity ratio of 0.06, indicating a conservative leverage position. However, the current ratio of 0.76 suggests potential liquidity constraints, as current liabilities exceed current assets. The company maintains a significant cash and equivalents balance of IDR 502.5 billion, which may provide a buffer against short-term obligations [doc:JIHD.JK-10K-2023]. Profitability metrics are weak, with a negative return on equity of -5.76% and a return on assets of -3.13%. These figures fall below the industry median for hotels and real estate, indicating underperformance relative to peers. The company reported a net loss of IDR 202.1 billion, driven by a negative operating income of IDR 308.4 billion [doc:JIHD.JK-10K-2023]. The company operates through four segments: Hotel, Real Estate, Telecommunication Services, and Hotel Management Services. The Hotel segment is the primary revenue driver, with the Hotel Borobudur Jakarta being a key asset. Revenue concentration is not explicitly disclosed, but the hotel segment is likely the largest contributor. The Telecommunication Services segment includes data center and managed services, which may offer diversification [doc:JIHD.JK-10K-2023]. Growth trajectory appears mixed. The company reported a revenue of IDR 1.61 trillion, but the outlook for the current fiscal year is uncertain due to the negative operating and net income. Free cash flow is negative at IDR 1.24 billion, and capital expenditures amounted to IDR 41.9 billion, indicating ongoing investment in operations [doc:JIHD.JK-10K-2023]. Risk factors include low liquidity and potential dilution, though no immediate filing-based flags were detected. The company's liquidity risk is low, but the negative free cash flow and operating cash flow may pose challenges. The dilution risk is also low, with no significant dilution sources identified in recent filings [doc:JIHD.JK-10K-2023]. Recent events include the management of Hotel Borobudur Jakarta by PT Dharma Harapan Raya, and the company's continued operations in real estate and telecommunication services. No major regulatory or geopolitical events were reported in the latest filings [doc:JIHD.JK-10K-2023].