Widodo Makmur Unggas Tbk PT

The company's capital structure is characterized by a high debt-to-equity ratio of 1.63, indicating a significant reliance on debt financing. Its liquidity position is moderate, with a current ratio of 1.32, but its cash and equivalents amount to only 1.75 billion IDR, which is far below the long-term debt of 1.26 trillion IDR, suggesting a potential liquidity risk. The price-to-book ratio of 1.15 and price-to-tangible-book ratio of 1.15 indicate that the company's market value is slightly above its book value, but the negative return on equity of -10.72% and return on assets of -3.56% suggest poor profitability and asset utilization. The company's profitability is severely underperforming compared to industry norms, with a net loss of 83.04 billion IDR and an operating loss of 45.00 billion IDR. The gross profit is also negative at -12.85 billion IDR, indicating that the cost of goods sold exceeds revenue. These figures are far below the typical performance of companies in the Fishing & Farming industry, which usually maintain positive gross and operating margins. The company's revenue is concentrated across several geographic segments, including West Java, Central Java, Banten, East Java, DKI Jakarta, and DI Yogyakarta. These regions are the primary markets for its chicken meat products under the W99 brand. The company also has a subsidiary, PT Adijaya Unindo Perkasa, which is engaged in the trade of animal feed, contributing to its feed segment. The company's growth trajectory is currently negative, with a net loss and declining profitability. The outlook for the current fiscal year is not promising, and the next fiscal year is expected to show minimal improvement. The company's revenue history indicates a challenging operating environment, with high costs and low margins contributing to its financial struggles. The company faces several risk factors, including liquidity risk due to its high debt levels and negative net cash position. The risk assessment indicates a medium liquidity risk and a low dilution risk. The company's capital structure and financial performance suggest a need for careful monitoring of its debt obligations and cash flow management. Recent events, including financial filings and transcripts, highlight the company's ongoing challenges in maintaining profitability and managing its debt. The company's financial statements show a consistent pattern of losses, and there is no indication of significant improvements in the near term. The company's ability to generate positive cash flow from operations is limited, with an operating cash flow of 4.44 billion IDR and a free cash flow of -23.83 billion IDR.