1. Indonesia Stocks

  2. •

    Consumer Defensive

  3. •

    Agricultural Farm Products
PT Sinar Mas Agro Resources and Technology Tbk

PT Sinar Mas Agro Resources and Technology Tbk

SMAR.JK
PT Sinar Mas Agro Resources and Technology TbkID flagIndonesia Stock Exchange
4,910.00
IDR
- -
- -
14.10TMarket Cap
PT Sinar Mas Agro Resources and Technology Tbk
SMAR.JK
(Indonesia Stock Exchange)

Recent

price

4,910.00

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
7,055.73
11,028.58
9,583.72
8,333.43
11,259.92
12,614.09
10,358.68
12,296.56
13,018.5
12,602.95
14,077.86
19,846.93
26,128.31
23,163.67
27,447.82
30,271.66
30,015.1
Revenue per Share
438.87
621.38
749.09
310.74
514.46
-134.45
905.55
411.8
207.97
312.87
535.74
984.2
1,915.09
319.55
445.02
899.98
584.99
Basic EPS, GAAP
-13.26
-343.3
-693.69
-869.67
-619.94
-798.7
-427.38
-472.8
-426.73
-532.48
-440.43
-309.33
-485.62
-700.82
-760.37
-1,182.37
-1,034.18
Free Cash Flow per Basic Share
74.98
149.96
199.94
1,199.66
5
10
- -
24.99
29.99
749.79
- -
344.89
309.9
369.88
199.92
30
105.1
Dividend per Share
1,382.83
1,863.76
2,412.85
1,523.59
2,026.87
1,906.45
2,887.32
3,269.6
3,502.17
3,055.82
3,606.46
4,260.99
5,889.4
5,839.64
6,093.92
6,960.56
6,341.83
Book Value per Share
1,953.8
2,409.2
2,980.79
2,123.42
2,618.46
2,484.04
3,622.14
3,795.61
3,938.5
3,412.03
3,911.51
4,663.74
6,359.83
6,154.04
6,426.98
7,289.67
6,666.37
Tangible Book Value per Share
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
2,872
Basic Weighted Avg Shares
20,265,425
31,676,219
27,526,306
23,935,214
32,340,665
36,230,113
29,752,126
35,318,102
37,391,643
36,198,102
40,434,346
57,004,234
75,045,559
66,530,549
78,835,443
86,946,068
86,209,176
Sales/Revenue/Turnover
8.23
7.15
11.85
8.14
6.6
2.81
4.86
4.44
4.23
2.97
5.75
6.81
8.8
2.23
2.57
4.13
2.8
Operating Margin (%)
- -
51,841
70,224
90,629
111,792
128,692
132,126
133,930
151,455
154,436
258,368
505,516
248,786
223,573
256,062
260,473
258,396
Depreciation Expense
1,260,513
1,784,724
2,151,528
892,505
1,477,623
-386,175
2,600,909
1,182,757
597,324
898,632
1,538,742
2,826,808
5,500,519
917,807
1,278,172
2,584,906
1,680,218
Net Income, GAAP
23.83
25.18
25.34
25.86
24.8
- -
- -
1.91
14.79
22.93
26.25
21.27
19.12
17.23
19.37
21.74
22.05
Effective Tax Rate (%)
6.22
5.63
7.82
3.73
4.57
-1.07
8.74
3.35
1.6
2.48
3.81
4.96
7.33
1.38
1.62
2.97
1.95
Profit Margin (%)
2,130,903
3,694,683
3,846,917
797,927
715,995
782,957
2,889,779
3,007,902
4,150,105
801,863
4,253,117
7,009,082
11,604,256
8,915,726
11,070,801
8,787,453
9,762,623
Working Capital
826,077
732,543
1,593,101
1,439,524
1,181,921
2,889,823
6,415,829
6,696,284
7,902,991
5,122,373
6,867,952
9,687,194
10,373,741
9,483,107
11,090,652
8,367,628
9,529,881
LT Debt
5,975,646
7,335,552
8,939,395
6,484,901
7,931,489
7,622,770
10,425,732
11,532,233
12,249,205
10,933,057
12,523,681
14,417,829
19,247,803
19,071,863
19,883,057
22,435,020
20,604,291
Total Equity
15.14
17.04
21.38
11.51
11.16
- -
- -
6.66
5.41
3.32
6.28
9.39
14.68
3.34
4.38
7.16
4.98
Return on Invested Capital (%)
22.45
25.78
25.52
10.47
14.02
- -
- -
7.76
4.7
5.81
8.25
12.19
19.55
5.74
6.4
9.26
7.27
Return on Capital (%)
36.55
38.28
35.03
15.79
28.98
-6.84
37.78
13.38
6.14
9.54
16.08
25.02
37.73
5.45
7.46
13.79
9.56
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
8,129,955
8,739,482
8,499,748
LT Borrowings
11,080,815
10,714,914
9,523,285
LT Finance Leases
9,837
8,216
6,596
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,872
2,872
2,872
Market Capitalization
10,483,506
10,138,843
9,765,457

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
24,441,530
24,903,126
23,623,965
Cash, Cash Equivalents & STI
1,585,735
1,363,282
1,186,873
Accounts Receivable, Net
6,383,566
6,398,895
5,996,079
Inventories
11,955,088
12,658,173
12,343,537
Total Current Liabilities
13,370,729
14,441,547
13,861,342
Payables & Accruals
- -
- -
- -
ST Debt
8,129,955
8,739,482
8,499,748
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.22%
12.96%
12.83%
Free Cash Flow
9.74%
27.11%
55.5%
Net Income, GAAP
-51.94%
47.29%
102.23%
Sales/Revenue/Turnover
10.53%
18.01%
10.29%
Total Cash Common Dividend
- -
-35.15%
-84.99%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
17,882,988
18,009,412
20,400,912
22,542,131
78,835,443
2025
21,158,050
22,108,083
21,291,713
- -
86,946,068
2026
20,734,239
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
61.93
- -
- -
- -
445.02
2025
46.74
- -
- -
- -
899.98
2026
288.81
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
199.92
2025
0.01
- -
- -
- -
30
2026
- -
- -
- -
- -
- -
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Business
PT Sinar Mas Agro Resources and Technology Tbk (PT SMART Tbk) operates as an integrated seed-to-shelf palm oil agribusiness company, cultivating and harvesting oil palm trees across approximately 137,000 hectares in Sumatra and Kalimantan, Indonesia; processing fresh fruit bunches into crude palm oil and palm kernel; refining into consumer products including cooking oil under Filma and Kunci Mas brands, margarine, shortening; and industrial products such as biodiesel, oleochemicals comprising fatty acids, glycerin, soap noodles, palm kernel oil, and cocoa butter substitutes. The company manages 16 mills, four kernel crushing plants, four refineries, two biodiesel plants, and one oleochemical plant primarily in Indonesia, with global merchandising to markets in Asia, Europe, North America, Africa, the Middle East, and the Indian subcontinent. Founded in 1962 and headquartered at Sinar Mas Land Plaza in Jakarta, Indonesia, PT SMART Tbk functions as a subsidiary of Golden Agri-Resources Ltd and underwent an initial public offering on the Indonesia Stock Exchange in 1992. In recent developments, PT SMART Tbk's parent Golden Agri-Resources (GAR) established a multi-year strategic partnership with Verborg Group in 2024 to supply over one million tonnes of tropical oils including CPO, PKO, and coconut oil; entered a lease agreement with Chane in July 2024 for 20,400 cubic meters of storage capacity at Rotterdam terminal to bolster Northwest Europe presence; opened new sales offices in Dubai and Mexico to expand into Africa, the Middle East, South Asia, and Latin America; and launched SmartTrace blockchain platform for supply chain transparency compliant with EU Deforestation-Free Regulation. Sinar Mas Agribusiness and Food, GAR's Indonesian operating entity, received the INDI 4.0 award for smart factory integration and sustainability recognition at Belawan Refinery for transitioning to palm kernel shells and biomass fuels; while its Sawit Terampil program enabled smallholder cooperatives like KJSLJ to achieve RSPO certification, with over 9,000 farmers trained.