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    Regulated Gas
PT Rukun Raharja Tbk

PT Rukun Raharja Tbk

RAJA.JK
PT Rukun Raharja TbkID flagIndonesia Stock Exchange
3,920.00
IDR
-200.00
- -
16.57TMarket Cap
PT Rukun Raharja Tbk
RAJA.JK
(Indonesia Stock Exchange)

Recent

price

3,920.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.01
0.03
0.01
0.03
0.05
0.05
0.05
0.04
0.03
0.03
0.02
0.02
0.03
0.05
0.06
0.06
0.06
Revenue per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.01
0.01
0.01
0.01
Basic EPS, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-0.02
-0.01
-0.01
- -
-0.01
-0.01
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
- -
- -
- -
0.01
0.01
0.01
0.01
0.02
0.02
0.02
0.02
0.02
0.02
0.03
0.03
0.03
Book Value per Share
- -
- -
- -
- -
0.01
0.01
0.01
0.02
0.02
0.02
0.02
0.02
0.02
0.03
0.03
0.05
0.05
Tangible Book Value per Share
2,785
2,718
14,255
4,077
4,077
4,077
4,077
4,077
4,119
4,227
4,227
4,227
4,227
4,227
4,227
4,227
4,227
Basic Weighted Avg Shares
17
91
116
137
197
194
187
149
118
122
99
98
127
204
254
267
256
Sales/Revenue/Turnover
1.1
11.79
10.81
8.11
9.27
10.4
6.23
1.26
5.27
2.33
4.8
3.48
8.7
22.18
18.98
14.88
15.4
Operating Margin (%)
- -
1
1
- -
- -
1
- -
- -
- -
1
2
2
2
2
2
2
2
Depreciation Expense
- -
2
5
6
8
8
7
12
11
6
1
2
9
26
26
27
29
Net Income, GAAP
- -
46.33
36.12
30.54
35.61
39.21
29.05
24.48
17.48
29.96
43.73
26.98
16.77
33.21
34.23
29.31
30.99
Effective Tax Rate (%)
-2.58
2.03
4.52
4.2
3.88
4.06
3.48
7.83
9.68
4.67
1.41
2.29
6.96
12.57
10.04
10.22
11.39
Profit Margin (%)
-36
-30
8
- -
-4
25
10
28
49
47
40
45
32
24
32
42
89
Working Capital
29
26
51
40
19
44
29
7
40
33
20
99
99
108
91
110
150
LT Debt
18
21
60
56
63
84
91
120
132
123
123
125
133
155
172
256
260
Total Equity
- -
6.75
7.83
6.5
10.75
10.07
5.98
1.04
3.23
1.15
1.65
1.28
3.82
11.15
10.83
7.95
6.52
Return on Invested Capital (%)
- -
4.83
6.07
7.45
10.06
8.79
6.85
10.57
11.69
4.56
1.25
1.76
4.31
12.65
10.9
9.21
8.95
Return on Capital (%)
-6.04
22.28
38.27
29.97
31.8
25.1
17.12
25.11
20.1
8.54
1.95
3.12
11.54
28.34
23.52
22.87
23.75
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
37
44
40
LT Borrowings
124
109
150
LT Finance Leases
1
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
4,227
4,227
4,227
Market Capitalization
804
1,521
905

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
149
138
182
Cash, Cash Equivalents & STI
96
91
136
Accounts Receivable, Net
26
33
28
Inventories
1
1
1
Total Current Liabilities
67
95
93
Payables & Accruals
- -
- -
- -
ST Debt
37
44
40
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.77%
16.83%
48.92%
Free Cash Flow
521.59%
748.81%
310.02%
Net Income, GAAP
48.47%
110.09%
6.61%
Sales/Revenue/Turnover
5.88%
23.79%
4.79%
Total Cash Common Dividend
53.05%
65.54%
50.22%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
62
62
66
65
254
2025
66
62
68
71
267
2026
55
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.01
2025
- -
- -
- -
- -
0.01
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
PT Rukun Raharja Tbk (RAJA.JK) operates as Indonesia's leading private integrated energy provider, offering end-to-end solutions across the natural gas value chain from upstream exploration to downstream distribution and utilities. Founded on December 24, 1993, and listed on the Indonesia Stock Exchange in 2003, the company is headquartered at Office Park Thamrin Residences Block A 01-05, Jl. Thamrin Boulevard, Tanah Abang, Central Jakarta, Indonesia, with operations spanning 12 sites across Sumatra (Jambi, Palembang) and Java (Banten, West Java, East Java) regions. Its core business pillars encompass gas infrastructure including transmission, distribution pipelines, operation and maintenance of gas pipelines, gas compression services, and LPG terminal management; gas trading and distribution of natural gas and compressed natural gas (CNG) to industrial customers with allocations up to 50 MMSCFD; power generation through gas-fired plants; upstream energy activities via participating interests in oil and gas blocks such as 2.24% indirect stake in Cepu Block and 8% in Jabung Block; oil and gas support services including construction, logistics, and clean water treatment; and additional segments like petrochemicals, mining, trading, construction, and business consulting. The company delivers these services through key subsidiaries such as PT Energasindo Heksa Karya and PT Majuko Utama Indonesia for gas distribution and trading; PT Triguna Internusa Pratama, PT Trimitra Cipta Mandiri, and PT Bravo Delta Persada for infrastructure and utilities; PT Raharja Energi Cepu Tbk (RATU), PT Raharja Energi Tanjung Jabung, and PT Petrogas Jatim Utama Cendana for upstream operations; PT Petrotech Penta Nusa and PT Artifisial Teknologi Persada for oil and gas support; PT Heksa Energi Mitraniaga for terminals and storage; PT Raharja Daya Energi and PT Adidaya Bismawisesa Internasional for power plants; and PT Banggai Ammonia Indonesia for petrochemicals. Recent strategic expansions include the August 2025 acquisition of 49% stakes in PT Hafar Daya Konstruksi and PT Hafar Daya Samudera from the Hafar Group, enhancing midstream capabilities in oil and gas construction and logistics while boosting projected 2025-26 net earnings by 12-22%; the 2024 acquisition of 55% in PT Karya Mineral Jaya for gas distribution in North Kalimantan; agreements for Tanjung Batu-Samarinda fuel pipeline construction and Sengkang Block compressor plant rental; a March 2024 acquisition of 8% stake in Jabung Block, Jambi; and ongoing plans for gas trading company acquisition in Banten, LNG shipping assets, LNG terminals in Banten, and an LNG plant in Kalimantan, alongside upstream minority stake deals in high-value blocks. In May 2025, RAJA distributed IDR 250 billion in dividends reflecting 2024 performance, and in April 2024 signed an MoU with Energasindo Heksa Karya, Tripatra, and Pasir Tengah for compressed bio methane (CBM) production facilities, underscoring its shift toward sustainable clean energy. These moves, building on 2020-2023 acquisitions like PT Hexa Energi Mitraniaga and PT Raharja Energi Cepu, position RAJA for a 23.3% earnings CAGR through 2027 amid Indonesia's energy transition.