Sure! Here's the full English translation of the PGEO and MAPI analysis:
Total outstanding shares: 41.51 billion
Major shareholders:
PT Pertamina Power Indonesia: 69.01%
PT Pertamina Pedeve Indonesia: 5.99%
Masdar Indonesia Solar Holdings: 15%
Public (free float): 10%
Net profit margin in the latest quarter: 34.85%
Gross margin around 55–83%, operating margin dropped to ~−16% in Q3‑2024 (compared to a rise YoY), net margin around 44%
Margin pressures due to increasing cost of goods sold and SG&A expenses:
COGS up +4%, SG&A up +20%, interest expense up +32% YoY
Current ratio: 3.9–4.2×, quick ratio: 3.8–4.1×
Debt-to-equity ratio (DER): around 0.38–0.50
Total debt to equity: ~0.49
Conclusion: Strong financial structure with high liquidity and low leverage.
TTM operating cash flow ≈ IDR 3.825 trillion, free cash flow: IDR 2.211 trillion
Last dividend: IDR 47.77 per share, payout ratio ~73%, yield ~3.8–4.8%
Q1‑2025 net income: US$31.37 million (−34% YoY)
9M‑2024: stagnant, net profit ~US$134 million (+0.4% YoY), EBITDA down ~9%
Margin pressure driven by rising COGS and operational costs.
Planned share buyback to maintain minimum 10% free float due to underperforming stock since IPO
Negative sentiment due to “Pertamina refinery explosion” and ~US$600 million in short-term debt affecting investor confidence
Reddit community notes: new investors realize slow revenue growth; some took profits, but ~5–6% dividend yield still appealing
Summary – PGEO: Strong fundamentals (liquidity, margins, dividends), but facing slowing growth and rising costs; investor sentiment affected by parent company risks and debt concerns.
DBS analysts issued a BUY recommendation, with target price at IDR 1,950, based on:
FY23 dividend: IDR 132 billion (IDR 8/share), yield ~0.5%
Currency hedging strategy: hedged 30% of import costs
Regional expansion (Philippines, Thailand, etc.) already EBIT-positive, though Malaysia & Singapore remain negative
FY24 Capex budget: ~IDR 2 trillion
Retail regulation shifts manageable, management confident in adapting
No detailed margin/solvency ratios mentioned in source; focus is on operational efficiency and currency hedging.
IDR yield pressure → higher import costs
Potential consumer boycott risks for some F&B brands
However, popular brand portfolio and loyal MAP CLUB base (~10 million members) mitigate long-term risk
Summary – MAPI: Focused on diversification with strong brands, regional growth, and hedging strategies. Backed by analyst support, but faces FX and consumer sentiment risks.
| Category | PGEO | MAPI |
|---|---|---|
| Ownership | BUMN-dominated (Pertamina), ~10% free float | Public & institutional; specific data not shown |
| Margins | NPM ~35–45%, declining due to cost pressures | Margins not detailed |
| Solvency | CR ~4×, DER ~0.4–0.5: strong & conservative | FX hedging to mitigate import exposure |
| Dividend | Yield ~3.8–4.8%, payout ~70% | FY23 yield ~0.5%, focus on capex & growth |
| News | Q1‑2025 net income down 34% YoY; buyback plan; Pertamina & debt issues | DBS buy call, regional expansion, hedging |
| Sentiment / Rumor | Refinery incident, profit-taking by early investors | Consumer boycott risk vs brand strength |
PGEO offers stable fundamentals, attractive dividend yield, but growth slowing and cost pressure rising.
MAPI is growth-oriented, expanding regionally and diversifying brands, but more exposed to FX and consumer trend risks.
Let me know if you'd like valuation models, stock price charts, or sector comparisons added.
Berikut analisis mendetail untuk kedua emiten IDX: PGEO (Pertamina Geothermal Energy) dan MAPI (Mitra Adiperkasa):
Total saham beredar: 41,51 miliar lembar
Mayoritas saham:
PT Pertamina Power Indonesia: 69,01%
PT Pertamina Pedeve Indonesia: 5,99%
Masdar Indonesia Solar Holdings: 15%
Publik (free float): 10% market.bisnis.com+13lembarsaham.com+13dbs.com.sg+13bloombergtechnoz.com
Margin laba bersih kuartal terakhir: 34,85 % bloombergtechnoz.com+4kei.kabarbursa.com+4kabarbursa.com+4
Gross margin ~55–83 %, operating margin turun ke ~−16 % di Q3‑2024 (kontras naik year earlier), net margin ~44 %
Indikasi tekanan margin karena peningkatan beban pokok dan biaya SG&A:
COGS naik +4 %, SG&A +20 %, bunga naik +32 % YoY reddit.com+9pintarsaham.id+9bloombergtechnoz.com+9
Current ratio: 3,9–4,2×, quick ratio: 3,8–4,1×
Debt‑to‑equity ratio (DER): sekitar 0,38–0,50
Total utang vs ekuitas: ~0,49 ajaib.co.id+13kei.kabarbursa.com+13reddit.com+13
Kesimpulan: Struktur modal sehat, dengan likuiditas tinggi dan leverage rendah.
Arus kas operasional TTM ≈ Rp3,825 miliar, free cash flow Rp2,211 miliar dbs.com.sg+2kei.kabarbursa.com+2kabarbursa.com+2
Dividen terakhir: Rp47,77 per saham, payout ratio ~73 %, yield ~3,8–4,8 % kei.kabarbursa.com+1reddit.com+1
Q1‑2025 laba bersih: US$31,37 juta (−34 % YoY) kei.kabarbursa.com+7insight.kontan.co.id+7insight.kontan.co.id+7
9M‑2024: stagnan, laba net ~US$134 juta (+0,4 % YoY), EBITDA turun ~9 % saham.search.web.id+1bloombergtechnoz.com+1
Tekanan beban pokok & biaya operasional telah menekan margin dan membuat kinerja belakangan menurun.
Ada wacana buyback saham untuk jaga free float ≥10% akibat kinerja saham lesu sejak IPO bloombergtechnoz.com+1saham.search.web.id+1
Sentimen negatif terkait “ledakan kilang Pertamina” dan utang jangka pendek sekitar US$600 juta sempat menekan kepercayaan investor kei.kabarbursa.com+4idxchannel.com+4bloombergtechnoz.com+4
Community reddit: investor baru menyadari pendapatan tumbuh lambat, beberapa sudah ambil untung, tetapi dividen stabil di ~5–6 % masih menarik reddit.com
Ringkasan PGEO: Fundamental kuat (likuiditas, margin, dividen), namun pertumbuhan melambat dan beban meningkat; sentimen negatif dari isu induk usaha & volatilitas utang.
Analis DBS memberikan rekomendasi BUY, dengan target harga Rp1.950, berdasarkan faktor-faktor:
Dividen FY23 sebesar Rp132 miliar (Rp8/lembar), yield ~0,5 % kei.kabarbursa.com+2dbs.com.sg+2saham.search.web.id+2
Strategi lindung nilai mata uang: hedging 30% biaya impor
Ekspansi regional (Filipina, Thailand, dll.) yang sudah menghasilkan EBIT positif, meski Malaysia & Singapura masih negatif dbs.com.sg
Capex FY24 sekitar Rp2 triliun
Regulasi retail berubah → tetap yakin mampu adaptasi kabarbursa.com+2dbs.com.sg+2reddit.com+2
Artikel tidak menyebut rasio margin & solvabilitas spesifik; fokus pada strategi lindung nilai dan efisiensi operasional.
Tekanan yield IDR → biaya impor meningkat
Ada potensi dampak dari boikot brand F&B (risk disebut) dbs.com.sg
Namun portofolio brand terkenal dan loyalitas anggota MAP CLUB (~10 juta) mengurangi risiko jangka panjang dbs.com.sg
Ringkasan MAPI: FOKUS diversifikasi brand populer, ekspansi regional, lindung nilai mata uang; dukungan analis dengan target harga dan yield dividen konsisten. Risiko dari depresiasi rupiah & potensi boikot.
| Aspek | PGEO | MAPI |
|---|---|---|
| Ownership | Didominasi BUMN (Pertamina), free float ~10% | Publik & institusi; data spesifik tidak disebut |
| Margin | NPM ~35–45 %, margin menurun akibat beban meningkat | Margin tidak disebut secara khusus |
| Solvabilitas | CR ~4×, DER ~0.4–0.5 : sehat & konservatif | Lindung nilai impor mitigasi risiko forex |
| Dividen | Yield ~3.8–4.8 %, payout ~70 % | FY23 yield ~0.5 %, capex dan strategi ekspansi |
| News | Q1‑2025 laba turun 34 % YoY; buyback & isu utang & BUMN | Rekomendasi buy oleh DBS, ekspansi & hedging |
| Rumor / Sentimen | Isu ledakan Pertamina, pengambilan untung investor | Potensi boikot vs brand, regulasi retail |
PGEO menawarkan stabilitas fundamental, yield dividen menarik, namun menghadapi tantangan pertumbuhan & margin terkikis.
MAPI lebih bersifat growth‑oriented, dengan strategi ekspansi jaringan dan diversifikasi brand, namun lebih sensitif terhadap forex dan tren konsumen.
Butuh data harga terkini, chart, atau makro yang mendukung analisis ini (IHSG, sektor utilitas atau retail)? Tinggal bilang!