PT. Chandra Asri Petrochemical Tbk (PTCAY) Stock Analysis

PT. Chandra Asri Petrochemical Tbk (PTCAY) Materials & Commodity Exposure

PT. Chandra Asri Petrochemical Tbk, based in Indonesia, is a major integrated petrochemical producer with a diverse product portfolio including olefins, polyolefins, and styrene monomers. Serving both domestic and export markets, the company plays a crucial role in supplying raw materials for various downstream industries, demonstrating a significant presence in the Southeast Asian petrochemical landscape.

What Is the Investment Thesis for PTCAY?

PT. Chandra Asri Petrochemical Tbk presents an investment opportunity based on its dominant market position in Indonesia's growing petrochemical sector. With a P/E ratio of 20.54 and a profit margin of 23.1%, the company demonstrates profitability. Growth catalysts include increasing domestic demand for petrochemical products driven by Indonesia's expanding economy and infrastructure development. The company's integrated operations and strategic partnerships provide a competitive advantage. Potential risks include fluctuations in global oil prices, currency exchange rate volatility, and regulatory changes in the petrochemical industry. The company's beta of -0.10 suggests lower volatility compared to the broader market.

Based on FMP financials and quantitative analysis

PTCAY Key Highlights

Market capitalization of $6.92B, indicating a substantial presence in the petrochemical industry.

• P/E ratio of 20.54, suggesting a moderate valuation relative to earnings.
• Profit margin of 23.1%, reflecting strong profitability in its operations.
• Dividend yield of 0.18%, providing a modest income stream for investors.
• Beta of -0.10, indicating lower volatility compared to the overall market.

Who Are PTCAY's Competitors?

PTCAY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance

What Are PTCAY's Key Strengths?

Integrated petrochemical operations.

• Dominant market position in Indonesia.
• Strong brand recognition.
• Experienced management team.

What Are PTCAY's Weaknesses?

Exposure to volatile raw material prices.

• Dependence on domestic market demand.
• Limited product diversification.
• Gross Margin is negative.

What Could Drive PTCAY Stock Higher?

PTCAY catalyst: Increasing domestic demand for petrochemical products in Indonesia due to economic growth and infrastructure development.

• Government support for the petrochemical industry through favorable policies and incentives.
• Potential expansion of production capacity to meet growing demand in Southeast Asia.
• Strategic partnerships with international companies to access new technologies and markets.

What Are the Key Risks for PTCAY?

Financial-distress signal — its Altman Z-Score of 1.78 sits in the distress zone (elevated bankruptcy risk).

• Volatility in global oil prices, which can impact raw material costs and profitability.
• Currency exchange rate fluctuations, which can affect the value of the ADR and the company's earnings.
• Changes in government regulations related to the petrochemical industry.
• Increased competition from other petrochemical companies in the region.
• Negative Gross Margin

What Are the Growth Opportunities for PTCAY?

• Expansion of production capacity: PT. Chandra Asri can capitalize on the increasing demand for petrochemical products in Indonesia and Southeast Asia by expanding its production capacity. Investments in new plants and equipment would allow the company to increase its output of key products such as polyethylene and polypropylene, capturing a larger share of the growing market. This expansion could target a 10-15% increase in production volume over the next 3-5 years, driven by infrastructure development and consumer spending.
• Development of specialty chemical products: The company can diversify its product portfolio by developing specialty chemical products with higher margins. This could involve investing in research and development to create new formulations and applications for its existing products, targeting specific customer needs in industries such as automotive, construction, and healthcare. This diversification strategy could contribute to a 5-7% increase in overall profitability within the next 2-3 years.
• Strategic partnerships and joint ventures: PT. Chandra Asri can pursue strategic partnerships and joint ventures with other companies in the petrochemical industry to expand its market reach and access new technologies. Collaborations with international players could provide access to advanced manufacturing processes and distribution networks, enabling the company to compete more effectively in the global market. These partnerships could lead to a 8-12% increase in export sales over the next 4-5 years.
• Focus on sustainable and eco-friendly products: With increasing environmental awareness, PT. Chandra Asri can focus on developing sustainable and eco-friendly petrochemical products. This could involve using renewable resources as raw materials, reducing waste and emissions in its production processes, and developing recyclable and biodegradable products. This focus on sustainability could attract environmentally conscious customers and enhance the company's brand image, potentially increasing market share by 3-5% annually.
• Penetration of export markets: PT. Chandra Asri can further penetrate export markets by establishing a stronger presence in key regions such as Southeast Asia, China, and India. This could involve setting up sales offices and distribution centers in these regions, participating in trade shows and industry events, and tailoring its products to meet the specific needs of local customers. Successful export market penetration could increase overall revenue by 10-15% over the next 5 years.

What Are PTCAY's Competitive Advantages?

• Integrated operations across the petrochemical value chain, providing cost advantages and supply chain control.
• Dominant market position in Indonesia, the largest economy in Southeast Asia.
• Strategic partnerships with international companies, providing access to technology and markets.
• Established brands such as Asrene, Grene, and Trilene, recognized for quality and reliability.

What Does PTCAY Do?

Founded in 1984 and headquartered in Jakarta, Indonesia, PT. Chandra Asri Petrochemical Tbk has grown to become the country's largest integrated petrochemical company. The company operates across a wide range of the petrochemical value chain, producing olefins, polyolefins, styrene monomers, butadiene, and other related products. These products serve as essential raw materials for various downstream industries, including plastics, packaging, automotive, construction, and consumer goods. Chandra Asri's operations are divided into several key segments: Olefins, Polyolefins, Styrene Monomer, Butadiene, Methyl Tertiary Butyl Ether & Butene-1, and Tanks and Jetty Rental. Its product portfolio includes brands like Asrene (polyethylene), Grene (environmentally friendly resins), and Trilene (polypropylene). The company's geographic reach extends beyond Indonesia, with exports to Singapore and other international markets. Chandra Asri's integrated business model and strategic investments in production capacity have solidified its position as a key player in the Southeast Asian petrochemical industry.

What Products and Services Does PTCAY Offer?

• Produces olefins such as ethylene and propylene.
• Manufactures polyolefins, including polyethylene and polypropylene.
• Produces styrene monomer, a key raw material for polystyrene and other plastics.
• Manufactures butadiene, used in the production of synthetic rubber.
• Offers methyl tertiary butyl ether (MTBE) and butene-1.
• Provides tanks and jetty rental services.

How Does PTCAY Make Money?

• Manufactures and sells a range of petrochemical products to downstream industries.
• Generates revenue from the sale of olefins, polyolefins, and other petrochemicals.
• Exports its products to international markets, including Singapore.
• Provides tanks and jetty rental services to support its operations.

What Industry Does PTCAY Operate In?

PT. Chandra Asri Petrochemical Tbk operates within the specialty chemicals industry, a sector characterized by the production of chemicals for specific applications. The industry is influenced by global economic trends, raw material prices, and environmental regulations. The competitive landscape includes both domestic and international players, with companies like AAUKF (Asahi Kasei Corp), AKZOY (Akzo Nobel NV), BASFY (BASF SE), FSUGY (Fuchs SE), and GVDBF (Givaudan SA) serving as peers. Demand for petrochemical products is driven by growth in downstream industries such as packaging, automotive, and construction.

Who Are PTCAY's Key Customers?

• Plastic manufacturers who use polyethylene and polypropylene to produce various plastic products.
• Automotive component manufacturers who use styrene monomer and butadiene in their products.
• Packaging companies that use polyolefins for food and beverage packaging.
• Construction companies that use petrochemical products in building materials.

PT. Chandra Asri Petrochemical Tbk (PTCAY) Valuation Context

Valued at $6.92B, PTCAY is classified as a mid-cap stock.

PTCAY Revenue & Earnings Trend

In Q2 2026, PTCAY generated $2.92B in top-line revenue, marking a sequential increase of 21.5%. The company recorded net income of $135.9M, with diluted EPS of $0.16. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this mid-cap Basic Materials company. Across the four most recent quarters, PTCAY averaged $0.03 in diluted EPS.

Company Profile

PT. Chandra Asri Petrochemical Tbk operates in the Chemicals - Specialty industry within the Basic Materials sector. It is headquartered in Jakarta, ID. The company is led by CEO Erwin Ciputra. PTCAY has traded publicly since 2012.

Return on equity for PT. Chandra Asri Petrochemical Tbk stands at 33.1%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 10.2%, showing how much profit it generates from its asset base. PTCAY trades at a trailing price-to-earnings ratio of 6.77, below the Basic Materials sector average of ~22x. Its free cash flow yield is -3.2%, a gauge of the cash the business throws off relative to its market value. A current ratio of 3.09 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 14.8%, the inverse of the P/E and a quick read on earnings relative to price.

PT. Chandra Asri Petrochemical Tbk's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.78 places it in the distress zone, a signal of elevated financial risk.

Wall Street analysts project PT. Chandra Asri Petrochemical Tbk revenue of about $221.42T for fiscal 2026, with EPS near $0.00.

PTCAY Financials

PTCAY Latest News

No recent news available for PTCAY.

PTCAY Analyst Consensus

PTCAY MoonshotScore

PT. Chandra Asri Petrochemical Tbk Basic Materials Stock: Key Questions Answered

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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