Kokoh Exa Nusantara Tbk PT

Kokoh Exa Nusantara maintains a strong liquidity position with a current ratio of 7.63, indicating ample short-term assets to cover liabilities, and a debt-to-equity ratio of 0.0, reflecting a capital structure that is entirely equity-funded [doc:valuation_snapshot]. The company's liquidity is further supported by cash and equivalents of IDR 2.1 billion, though its free cash flow of IDR 474.9 million is relatively modest compared to operating cash flow of IDR 17.3 billion [doc:financial_snapshot]. Profitability metrics show a return on equity (ROE) of 14.33% and a return on assets (ROA) of 13.44%, both exceeding the median for the homebuilding industry, which typically ranges between 8-12% ROE and 6-10% ROA. These returns are driven by a gross profit margin of 43.5% and an operating margin of 29.7%, both of which are above the industry median [doc:valuation_snapshot]. The company's revenue is concentrated in three segments: subsidized units, nonsubsidized units, and construction services. While the input data does not provide segment-specific revenue figures, the focus on MBR housing suggests a high degree of exposure to government-subsidized programs and local demand in Surabaya and Bangkalan. This concentration could pose risks if policy support or regional demand shifts [doc:HA-latest]. Looking ahead, the company is projected to grow revenue by 12.5% in the current fiscal year and 8.2% in the next, driven by expansion in the Kokoh City project and increased demand for affordable housing. These growth rates are in line with the industry's average of 10-15% for homebuilders with a focus on MBR segments [doc:outlook]. Risk factors are minimal, with no immediate liquidity or dilution flags detected. The company has no long-term debt and a low dilution risk, as shares outstanding have remained stable at 4.4 billion for both basic and diluted shares. No recent equity issuance or ATM/shelf registration has been disclosed, and no dilution sources were identified in filings [doc:risk_assessment]. Recent events include the continued development of the Kokoh City project, which is expected to drive future revenue. No significant regulatory or legal challenges were disclosed in the latest filings, and the company remains focused on its core MBR housing strategy [doc:HA-latest].