Satyamitra Kemas Lestari Tbk PT

SMKL’s capital structure shows a debt-to-equity ratio of 1.11, indicating moderate leverage, while its liquidity risk is rated as medium. Free cash flow is negative at -IDR289.9 billion, driven by capital expenditures of -IDR390.5 billion, suggesting reinvestment in operations or asset expansion. The current ratio of 0.91 implies short-term obligations exceed current assets, signaling potential liquidity strain. Profitability metrics reveal a return on equity (ROE) of 4% and return on assets (ROA) of 1.6%, both below the industry median for Paper Packaging firms. Gross margin is 20.6% (IDR388.6 billion gross profit on IDR1.89 trillion revenue), while operating margin is 5.7% (IDR107.3 billion operating income), reflecting competitive pricing pressures or cost inefficiencies. Revenue is concentrated across four segments: Carton Box, Offset, Pre-Print, and Rigid Box. The Rigid Box segment, focused on mobile phone packaging, is a key differentiator, though geographic exposure is not disclosed. No single segment exceeds 50% of total revenue, but the lack of geographic diversification data raises visibility concerns. Outlook data is not provided, but historical revenue growth is implied to be stable given the absence of negative deltas. Capital expenditures suggest ongoing investment in production capacity, potentially to meet demand from mobile phone manufacturers. However, free cash flow negativity indicates reinvestment rather than surplus generation. Risk factors include medium liquidity risk due to a current ratio below 1 and negative net cash after subtracting total debt. Dilution risk is low, with no difference between basic and diluted shares outstanding. No recent filings or transcripts are cited to suggest material changes in risk exposure. Recent events are not disclosed in the input data, but the company’s focus on mobile phone packaging suggests exposure to supply chain volatility and demand cycles in the consumer electronics sector. No specific regulatory or geopolitical risks are flagged in the provided data.