Kedawung Setia Industrial Tbk PT

The company maintains a conservative capital structure, with a debt-to-equity ratio of 0.13, indicating a low reliance on debt financing. Its liquidity position is characterized as medium, with a current ratio of 2.34, suggesting the company can cover its short-term obligations but may face challenges in maintaining liquidity under stress scenarios. The price-to-book ratio of 0.93 implies that the company's market value is slightly below its book value, potentially signaling undervaluation or weak investor sentiment.

Profitability metrics show a return on equity of 1.87% and a return on assets of 1.25%, both of which are below the industry median for Paper Packaging firms. This suggests that the company is underperforming in terms of capital efficiency and asset utilization. Gross profit of 77.25 billion IDR and operating income of 23.73 billion IDR indicate a relatively narrow margin structure, which may limit the company's ability to absorb cost increases or pass on price hikes to customers.

Geographically, the company's revenue is concentrated in Indonesia, with no disclosed international operations. This concentration increases exposure to local economic and regulatory risks, including currency fluctuations and domestic demand volatility. The company operates in a single business segment, which limits diversification and exposes it to sector-specific downturns.

The company's growth trajectory is modest, with a price-to-earnings ratio of 49.71 and an EV/EBITDA of 34.99, both of which are elevated relative to industry norms. This suggests that the market is pricing in limited near-term earnings growth or is discounting future cash flows heavily. Analyst estimates for revenue and EPS are in line with reported figures, indicating a stable but not accelerating growth path.

Risk factors include a negative net cash position after subtracting total debt, which could constrain the company's ability to invest in growth or weather economic downturns. The company has a low dilution risk, with no recent or disclosed share issuance activity, and no signs of imminent equity dilution. However, the company's free cash flow of 2.15 billion IDR is relatively low, which may limit its capacity to return value to shareholders or fund strategic initiatives.

Recent events include a capital expenditure of -25.92 billion IDR, indicating a net outflow in the period, which may reflect ongoing investments in infrastructure or equipment. No recent filings or transcripts have been disclosed that would suggest material changes in the company's strategic direction or operational performance.

Operating margin of 4.8% exceeds the 4.55% median for the 73-company paper packaging cohort.

Cash conversion ratio of 1.92 significantly outperforms the 1.38 median among 70 comparable peers.

Debt-to-equity ratio of 0.13 is well below the 0.37 median, indicating lower leverage risk.

Dilution risk is assessed as low, suggesting limited threat to existing shareholder equity value.

Credit risk is flagged as high, signaling potential difficulties in meeting financial obligations.

Return on equity of 1.87% trails the 2.54% median for the paper packaging industry cohort.

Net margin of 2.98% falls below the 3.4% median observed across 73 peer companies.

Revenue IDR 560.75B, +0,8% YoY; Operating income −25,8% YoY.

• ▍Revenue IDR 560.75B, +0,8% YoY
• ▍Operating income −25,8% YoY
• ▍Net income −7,8% YoY
• ▍Free cash flow +364,6% YoY
• ▍Net margin 3.3%

Revenue IDR 542.74B; Operating income IDR 15.41B.

• ▍Revenue IDR 542.74B
• ▍Operating income IDR 15.41B
• ▍Net margin 2.2%

Revenue IDR 556.19B; Operating income IDR 31.72B.

• ▍Revenue IDR 556.19B
• ▍Operating income IDR 31.72B
• ▍Net margin 3.6%

Revenue IDR 516.46B; Operating income IDR 36.63B.

• ▍Revenue IDR 516.46B
• ▍Operating income IDR 36.63B
• ▍Net margin 4.5%

Revenue IDR 492.93B; Operating income IDR 23.73B.

• ▍Revenue IDR 492.93B
• ▍Operating income IDR 23.73B
• ▍Net margin 3.0%

Revenue IDR 2.14T, +3,2% YoY; Operating income −58,1% YoY.

• ▍Revenue IDR 2.14T, +3,2% YoY
• ▍Operating income −58,1% YoY
• ▍Net income −61,9% YoY
• ▍Free cash flow −231,8% YoY
• ▍Net margin 1.5%

Revenue IDR 2.07T, −2,8% YoY; Operating income −10,7% YoY.

• ▍Revenue IDR 2.07T, −2,8% YoY
• ▍Operating income −10,7% YoY
• ▍Net income +6,9% YoY
• ▍Free cash flow −46,9% YoY
• ▍Net margin 4.1%

Revenue IDR 2.13T, −9,6% YoY; Operating income +9,8% YoY.

• ▍Revenue IDR 2.13T, −9,6% YoY
• ▍Operating income +9,8% YoY
• ▍Net income +4,3% YoY
• ▍Free cash flow +2,9% YoY
• ▍Net margin 3.7%

Revenue IDR 2.35T, +5,0% YoY; Operating income +5,5% YoY.

• ▍Revenue IDR 2.35T, +5,0% YoY
• ▍Operating income +5,5% YoY
• ▍Net income +9,8% YoY
• ▍Free cash flow −19,1% YoY
• ▍Net margin 3.2%

Revenue IDR 2.24T; Operating income IDR 125.59B.

• ▍Revenue IDR 2.24T
• ▍Operating income IDR 125.59B
• ▍Net margin 3.1%