Here's a comprehensive analysis of PT Indocement Tunggal Prakarsa Tbk (IDX: INTP), covering ownership, margins, solvency, as well as recent news and rumors.
The controlling shareholder is Birchwood Omnia Ltd., a subsidiary of HeidelbergCement Group (Germany), holding approximately 51% of total shares .
No major recent changes in shareholding structure, aside from occasional large block trades that may involve the controlling stakeholder .
Gross Margin (TTM): ~32–33% as of September 2024 .
Net Margin (TTM): ~9–12% (e.g., 10.87% for FY 2023, 11.96% for Q3 2024) .
Operating Margin (TTM): ~11% .
Back in 2023, gross margin was strengthened above 30% following guaranteed coal supply under the Indonesian DMO scheme .
📌 Insight: Profitability is quite healthy for an industrial cement producer, with stable margins well above 30%.
Based on Simply Wall St and Alpha Spread data:
Debt/Equity Ratio (TTM): 0.094 (~9.4%) .
Assets (End 2024):
Current assets: ~Rp 8.8 trillion
Non-current assets: ~Rp 19.8 trillion .
Liabilities:
Current: ~Rp 6.1 trillion (incl. ~Rp 2 trillion short-term debt)
Long-term debt: ~Rp 153 billion .
📌 Insight: The company is conservatively financed with low leverage, modest liabilities, strong asset base, and substantial liquidity—suggesting good solvency.
P/E Ratio: ~10–10.3×, which is lower than the peer average (~14×) .
Valuation: Trading approximately 14–22% below fair value based on discounted cash flow models .
Analyst Ratings: Mixed to positive—no “sell” ratings recently; in March 2025 there were 6 “strong buy” and 8 “buy” recommendations .
Forecasted Growth: Expected annual earnings growth ~6.2%, and revenue growth ~5.1% per year .
Block trade alert (Nov 2023): A large negotiated trade worth Rp 20.7 trillion involved approximately 1.88 billion shares—equivalent to the stake of controlling shareholder, sparking speculation of action by the parent company .
Margin boost (2023): Analysts noted that INTP successfully secured coal supplies via the DMO scheme, helping cushion margins to above 30% .
Recent rumors: No major new rumors or regulatory flags reported in 2024–2025. Current online discussions are subdued, mainly focusing on financials.
| Factor | Status |
|---|---|
| Ownership | Controlled by HeidelbergCement via Birchwood Omnia Ltd. (51%) |
| Margins | Gross ~32–33%; Net ~10–12%; Operating ~11% |
| Solvency | Low leverage, strong liquidity, solid asset base |
| Valuation | P/E circa 10× vs peer avg ~14×; ~14–22% undervalued |
| Analyst Sentiment | Mostly “buy” or “strong buy”; no sell ratings |
| Recent News | Large block trade Nov 2023; margin uplift from coal DMO deal; quiet lately |
INTP stands on solid financial foundations: stable profitability, healthy solvency, and undervalued relative to peers. Growth prospects are modest but consistent, underpinned by infrastructure demand (e.g., IKN) and operational cost efficiencies (e.g., coal sourcing and alternative fuels). No immediate red flags are visible from recent rumors.
Would you like a deep dive into any specific area like quarterly cash flows, comparison with peers such as SMGR, or local market sentiment?
Berikut adalah terjemahan lengkap analisis saham PT Indocement Tunggal Prakarsa Tbk (IDX: INTP) ke dalam Bahasa Indonesia:
Pemegang saham pengendali adalah Birchwood Omnia Ltd., anak perusahaan dari HeidelbergCement Group (Jerman), dengan kepemilikan sekitar 51% saham.
Tidak ada perubahan besar dalam struktur kepemilikan akhir-akhir ini, meskipun ada transaksi blok besar yang kemungkinan melibatkan pemilik mayoritas.
Gross Margin (12 bulan terakhir): ~32–33% per September 2024.
Net Margin (12 bulan terakhir): ~9–12% (misalnya 10,87% di FY 2023, dan 11,96% di Q3 2024).
Operating Margin (12 bulan terakhir): ~11%.
Pada 2023, margin kotor meningkat di atas 30% berkat pasokan batu bara yang dijamin melalui skema Domestic Market Obligation (DMO) Indonesia.
📌 Catatan: Profitabilitas INTP tergolong sehat untuk produsen semen, dengan margin stabil di atas 30%.
Berdasarkan data Simply Wall St dan Alpha Spread:
Debt/Equity Ratio: 0,094 (~9,4%).
Aset (akhir 2024):
Aset lancar: ~Rp 8,8 triliun
Aset tidak lancar: ~Rp 19,8 triliun
Liabilitas:
Jangka pendek: ~Rp 6,1 triliun (termasuk utang jangka pendek ~Rp 2 triliun)
Utang jangka panjang: ~Rp 153 miliar
📌 Catatan: Perusahaan memiliki struktur keuangan konservatif dengan utang rendah, likuiditas tinggi, dan aset yang kuat—menandakan solvabilitas yang baik.
Rasio P/E: ~10–10,3×, lebih rendah dibanding rata-rata industri (sekitar 14×).
Valuasi: Diperdagangkan sekitar 14–22% di bawah nilai wajar berdasarkan model DCF.
Rating Analis: Mayoritas netral ke positif—tidak ada rekomendasi “jual” dalam laporan terkini. Pada Maret 2025, tercatat 6 rekomendasi “strong buy” dan 8 “buy”.
Proyeksi Pertumbuhan: Pertumbuhan laba tahunan ~6,2%, dan pertumbuhan pendapatan ~5,1% per tahun.
Transaksi blok besar (Nov 2023): Terjadi transaksi negosiasi besar senilai Rp 20,7 triliun, melibatkan sekitar 1,88 miliar saham—setara dengan kepemilikan pengendali, memicu spekulasi tentang aksi korporasi dari induk usaha.
Peningkatan margin (2023): Analis mencatat bahwa INTP berhasil mengamankan pasokan batu bara lewat skema DMO, yang membantu menjaga margin di atas 30%.
Rumor terbaru: Tidak ada rumor besar atau isu regulasi baru sepanjang 2024–2025. Diskusi daring relatif tenang dan lebih berfokus pada aspek fundamental.
| Faktor | Status |
|---|---|
| Kepemilikan | Dikuasai oleh HeidelbergCement via Birchwood Omnia Ltd. (51%) |
| Margin | Kotor ~32–33%; Bersih ~10–12%; Operasional ~11% |
| Solvabilitas | Utang rendah, likuiditas tinggi, aset kuat |
| Valuasi | P/E sekitar 10× (vs rata-rata industri ~14×); undervalued 14–22% |
| Sentimen Analis | Sebagian besar “buy” atau “strong buy”; tidak ada rekomendasi jual |
| Berita Terbaru | Transaksi blok besar Nov 2023; margin naik berkat DMO batu bara; minim rumor |
INTP berada pada kondisi keuangan yang solid: profitabilitas stabil, solvabilitas sehat, dan valuasi yang menarik dibandingkan pesaing. Prospek pertumbuhan relatif moderat namun konsisten, didukung oleh permintaan infrastruktur (misalnya IKN) dan efisiensi biaya operasional (seperti pengadaan batu bara dan penggunaan bahan bakar alternatif). Tidak ada sinyal risiko besar dari berita atau rumor terbaru.
Ingin saya bantu bandingkan dengan saham lain seperti SMGR atau analisis teknikalnya juga?