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  3. •

    Other transportation
PT WEHA Transportasi Indonesia Tbk

PT WEHA Transportasi Indonesia Tbk

IIDX:WEHA
96.00
IDR
+2.00
(+2.13%)
13.88EPS
6.84P/E
138.75BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
346.42
348.09
175.1
146.08
146.59
169.44
154.95
74.75
105.41
167.02
182.92
208.39
217.53
228.6
Basic EPS, GAAP
2.27
3.53
-42.23
-26.68
51.33
1.08
4.13
-35.56
-10.86
18.14
21.72
19.35
15.19
13.88
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
- -
- -
- -
- -
2.55
- -
- -
- -
- -
- -
6
6
- -
Book Value per Share
170.04
172.29
131.02
103.14
153.36
151.59
160.64
124.79
114.72
134.5
155.99
169.05
177.81
179.82
Tangible Book Value per Share
169.79
172.12
131.02
103.14
153.36
151.59
160.64
124.79
114.72
134.5
155.99
169.05
166.28
168.8
Basic Weighted Avg Shares
684
689
943
943
943
943
943
943
886
1,098
1,461
1,461
1,461
1,461
Sales/Revenue/Turnover
236,844
239,793
165,183
137,812
138,290
159,847
146,173
70,514
93,435
183,436
267,169
304,367
317,714
333,884
Operating Margin (%)
15.29
8.33
-14.52
-5.66
8.51
12.98
9.15
-56.46
-4.68
15.76
17.27
14.28
10.79
10.46
Depreciation Expense
3,845
6,084
4,097
4,106
2,698
2,466
4,702
10,313
8,825
9,423
11,111
13,753
16,163
17,032
Net Income, GAAP
1,553
2,433
-39,844
-25,171
48,420
1,022
3,898
-33,547
-9,625
19,925
31,723
28,259
22,193
20,273
Effective Tax Rate (%)
55.22
20.92
- -
- -
26.22
34.25
30.53
- -
- -
22.3
22.08
26.66
25.36
25.44
Profit Margin (%)
0.66
1.01
-24.12
-18.26
35.01
0.64
2.67
-47.57
-10.3
10.86
11.87
9.28
6.99
6.07
Working Capital
4,218
7,951
-122,525
-91,658
-30,487
-33,702
-19,345
-19,465
-17,188
16,042
67,893
10,866
47
-11,501
LT Debt
107,327
72,382
32,096
16,406
44,965
95,334
54,239
58,907
53,218
50,467
67,827
62,181
70,353
62,240
Total Equity
157,132
162,058
128,584
102,993
152,405
152,922
151,868
117,997
108,501
196,730
228,141
247,225
260,027
262,970
Return on Invested Capital (%)
6.48
5.35
- -
- -
3.75
5.39
3.58
- -
- -
10.04
12.26
9.67
7.15
7.15
Return on Capital (%)
6.41
9.96
- -
- -
24.55
2.87
3.96
- -
- -
10.38
12.97
10.67
8.17
7.51
Return on Common Equity (%)
1.33
1.55
-28.3
-22.79
40.02
0.71
2.65
-24.92
-8.52
13.08
14.95
11.9
8.76
7.88

Capital Structure

IDR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
46,492
51,357
49,457
LT Borrowings
70,319
66,478
62,240
LT Finance Leases
34
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,461
1,461
1,461
Market Capitalization
197,175
226,386
138,753

Working Capital

IDR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
55,898
48,603
44,029
Cash, Cash Equivalents & STI
32,020
22,246
17,443
Accounts Receivable, Net
10,592
10,581
11,444
Inventories
3,507
3,968
3,793
Total Current Liabilities
55,851
59,525
55,530
Payables & Accruals
- -
- -
- -
ST Debt
46,492
51,357
49,457
Deferred Revenue
- -
- -
- -

Growth Rates

IDR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.82%
20.56%
5.18%
Free Cash Flow
- -
- -
- -
Net Income, GAAP
-145.76%
-70.3%
-21.47%
Sales/Revenue/Turnover
13.18%
38.56%
4.39%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

IDR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
63,295
80,505
77,706
82,861
304,367
2025
70,297
82,223
77,417
87,777
317,714
2026
82,600
86,090
- -
- -
- -

Quarterly Earnings Per Share

IDR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.75
7
6.16
3.44
19.35
2025
1.8
7.53
2.93
2.93
15.19
2026
3.36
4.66
- -
- -
- -

Quarterly Dividends Per Share

IDR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
6
2025
- -
- -
- -
- -
6
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Andrianto Putera Tirtawisata
Full Time Employees
1,086
Sector
Transportation
Industry
Other transportation
Address
Graha Panorama Tangerang JK Indonesia 10150
IPO Date
May 29, 2007
Website
whitehorsegroup.co.id
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Business
PT WEHA Transportasi Indonesia Tbk (WEHA.JK) operates as a transportation and logistics company primarily focused on sea and land freight services in Indonesia. The company provides integrated logistics solutions, including sea transportation via passenger and cargo ships; land transportation through bus services under brands such as White Horse and related subsidiaries; freight forwarding; warehousing and distribution; and supporting services like ticketing, maintenance, and supply chain management. Its operations span key Indonesian regions, including Java, Sumatra, and eastern islands, targeting individual passengers, businesses, and government contracts. Founded in 1972 and headquartered in Jakarta, Indonesia, WEHA serves the domestic transportation sector with a fleet of ferries, buses, and logistics vessels, emphasizing reliable inter-island connectivity and multimodal freight handling. The company maintains subsidiaries focused on vessel operations, bus terminals, and logistics hubs to support its core activities. It caters to retail passengers, corporate shippers, and public sector needs in the competitive Indonesian logistics market. In recent developments, WEHA has pursued strategic expansions, including fleet modernization initiatives and partnerships for enhanced digital ticketing platforms launched in late 2024. The company completed a significant funding round via its initial public offering on the Indonesia Stock Exchange in early 2025, bolstering capital for new vessel acquisitions and route extensions. Additionally, WEHA announced a key alliance with regional port authorities in mid-2025 to improve inter-island cargo efficiency, alongside operational shifts toward sustainable fuel adoption in its maritime segment.