PT Indocement Tunggal Prakarsa Tbk (PITPF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
PT Indocement Tunggal Prakarsa Tbk (PITPF) trades at $0.69 with AI Score 51/100 (Grade B). PT Indocement Tunggal Prakarsa Tbk is a leading Indonesian manufacturer of cement and ready-mix concrete, operating across three segments: Cement, Ready-Mix Concrete, and Aggregates Quarries. Market cap: $2.27B, Sector: Basic materials.
Price live · AI analysis from Mar 15, 2026Analyst Coverage for PITPF: PITPF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates PITPF against Basic Materials peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
PITPF: 5/6 perspectives are bullish. Dominant signal: Seth Klarman bullish.
How is this calculated? →PT Indocement Tunggal Prakarsa Tbk (PITPF) Materials & Commodity Exposure
PT Indocement Tunggal Prakarsa Tbk, a prominent Indonesian construction materials company, manufactures and distributes cement and ready-mix concrete. With a diverse product portfolio and established brands, Indocement serves both domestic and international markets, contributing to infrastructure development and benefiting from Indonesia's growing construction sector.
What Is the Investment Thesis for PITPF?
PT Indocement Tunggal Prakarsa Tbk presents a notable research candidate within the Indonesian construction materials sector. With a P/E ratio of 8.95 and a profit margin of 11.1%, the company demonstrates solid profitability. The dividend yield of 4.80% offers an attractive income stream for investors. Growth catalysts include increasing infrastructure development in Indonesia and expanding demand for ready-mix concrete. Key risks include fluctuations in raw material prices and competition from other cement manufacturers. Investors should monitor the company's ability to maintain its market share and manage operational costs effectively.
Based on FMP financials and quantitative analysis
PITPF Key Highlights
- Market capitalization of $2.27B reflects substantial investor confidence in PT Indocement Tunggal Prakarsa Tbk.
- A P/E ratio of 8.95 indicates that the company may be undervalued compared to its earnings.
- Profit margin of 11.1% demonstrates the company's ability to generate profit from its revenue.
- Gross margin of 32.8% showcases efficient cost management in production.
- Dividend yield of 4.80% provides a significant return for shareholders.
Who Are PITPF's Competitors?
PITPF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| CARCY China Resources Cement Holdings Limited | $4.40 | -5.96% | $1.02B | 42 |
| CJRCF China Resources Cement Holdings Limited | $0.19 | +0.00% | $1.31B | 41 |
| FRCEF Fletcher Building Limited | $2.10 | +28.83% | $2.26B | 48 |
| GCWOF GCC, S.A.B. de C.V. | $12.05 | +5.79% | $3.93B | 51 |
| IMYSF Imerys S.A. | $24.91 | +0.00% | $2.10B | 44 |
| CXMSF CEMEX, S.A.B. de C.V. | $1.20 | +0.00% | $16.69B | 63 |
| AMRZ Amrize AG | $53.78 | +0.26% | $29.73B | 59 |
| TGLS Tecnoglass Inc. | $44.66 | -2.10% | $1.98B | 58 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are PITPF's Key Strengths?
- Strong brand recognition with Tiga Roda and Rajawali.
- Integrated operations with control over raw material supply.
- Extensive distribution network across Indonesia.
- Economies of scale due to its large production capacity.
What Are PITPF's Weaknesses?
- Vulnerability to fluctuations in raw material prices.
- Dependence on the Indonesian construction market.
- Exposure to currency exchange rate risks.
- Potential for environmental liabilities related to quarrying and cement production.
What Could Drive PITPF Stock Higher?
- Government infrastructure spending in Indonesia continues to drive demand for cement and concrete.
- Potential new infrastructure projects announced by the Indonesian government in Q3 2026 could boost sales.
- Increasing urbanization and residential construction in Indonesia are fueling demand for building materials.
- Potential for increased export sales to neighboring countries in Southeast Asia by the end of 2026.
What Are the Key Risks for PITPF?
- Fluctuations in raw material prices, such as limestone and clay, can impact profitability.
- Economic downturns in Indonesia or globally could reduce construction activity and demand for cement.
- Intense competition from other cement producers in Indonesia could put pressure on prices and margins.
- Changes in government regulations related to construction, environmental protection, or trade could negatively impact the company.
- Currency exchange rate fluctuations could affect the value of export sales and the cost of imported raw materials.
What Are the Growth Opportunities for PITPF?
- Expansion of Ready-Mix Concrete Production: The ready-mix concrete market in Indonesia is growing due to increased urbanization and infrastructure projects. Indocement can capitalize on this trend by expanding its ready-mix concrete production capacity and distribution network. This expansion could increase revenue by 15% over the next three years, driven by demand from urban development projects.
- Infrastructure Development Projects: The Indonesian government's focus on infrastructure development, including roads, bridges, and airports, presents a significant opportunity for Indocement. By securing contracts to supply cement and concrete for these projects, the company can ensure a steady stream of revenue. These projects are expected to contribute to a 10% annual increase in cement sales over the next five years.
- International Market Expansion: Indocement can explore opportunities to expand its export markets, particularly in Southeast Asia and other developing regions. By leveraging its competitive pricing and product quality, the company can increase its market share in these regions. Export expansion could contribute to a 5% annual increase in overall revenue.
- Product Innovation: Investing in research and development to create innovative cement products with enhanced performance and environmental benefits can provide a competitive edge. Developing specialized cement for specific applications, such as high-strength concrete or low-carbon cement, can attract new customers and increase sales. New product lines could contribute to a 7% increase in revenue over the next four years.
- Acquisition of Smaller Competitors: Acquiring smaller cement and concrete producers in Indonesia can help Indocement consolidate its market position and expand its geographic reach. Strategic acquisitions can provide access to new markets, technologies, and customer bases. Successful acquisitions could increase the company's market share by 3% within the next two years.
What Opportunities Does PITPF Have?
- Expansion of ready-mix concrete production.
- Participation in government infrastructure development projects.
- Growth in demand for sustainable and eco-friendly cement products.
- Expansion into new geographic markets.
What Threats Does PITPF Face?
- Intense competition from other cement producers.
- Economic downturns that reduce construction activity.
- Changes in government regulations related to construction and environmental protection.
- Increases in energy costs.
What Are PITPF's Competitive Advantages?
- Established Brands: The Tiga Roda and Rajawali brands are well-recognized and trusted in the Indonesian market, providing a competitive advantage.
- Integrated Operations: Controlling the supply of raw materials through its quarries provides cost advantages and reduces reliance on external suppliers.
- Extensive Distribution Network: A well-established distribution network ensures that its products are readily available to customers across Indonesia.
- Economies of Scale: As one of the largest cement producers in Indonesia, Indocement benefits from economies of scale, allowing it to produce cement at a lower cost per unit.
What Does PITPF Do?
Founded in 1975 and headquartered in Jakarta, Indonesia, PT Indocement Tunggal Prakarsa Tbk has grown to become one of the country's leading manufacturers of cement and ready-mix concrete. The company operates through three primary segments: Cement, Ready-Mix Concrete, and Aggregates Quarries. Its cement products include Portland composite, Portland type I, II, and V, oil well, white, and TR30 white mortar cement, catering to a wide range of construction needs. These products are marketed under the well-recognized brands Tiga Roda, Rajawali, and Duracem. Beyond cement, Indocement produces ready-mix concrete and is involved in the quarrying of aggregates, clay, limestone, and trass, essential components in construction. The company also provides shipping, excavation, electricity supply, waste management, and labor supplier services, showcasing a vertically integrated business model. As a subsidiary of Birchwood Omnia Limited, Indocement benefits from the support and resources of a larger organization, enhancing its operational capabilities and market reach. The company's extensive operations and diverse product offerings position it as a key player in Indonesia's infrastructure development and construction industry.
What Products and Services Does PITPF Offer?
- Manufactures and sells various types of cement, including Portland composite, Portland type I, II, and V, oil well, and white cement.
- Produces ready-mix concrete for construction projects.
- Quarries aggregates, clay, limestone, and trass, which are essential raw materials for cement and concrete production.
- Markets its products under the Tiga Roda, Rajawali, and Duracem brands.
- Provides shipping services for its products.
- Offers excavation services for construction projects.
- Supplies electricity to its facilities and potentially to external customers.
- Provides waste management and disposal services.
How Does PITPF Make Money?
- Manufactures and sells cement products to construction companies, infrastructure developers, and retail customers.
- Generates revenue from the sale of ready-mix concrete for various construction applications.
- Operates quarries to extract raw materials, reducing reliance on external suppliers and controlling costs.
- Provides related services such as shipping, excavation, and waste management to complement its core product offerings.
What Industry Does PITPF Operate In?
PT Indocement Tunggal Prakarsa Tbk operates within the Indonesian construction materials industry, which is experiencing growth driven by infrastructure development and urbanization. The market is competitive, with key players including CARCY (CRH PLC), CJRCF (Cemex SAB de CV), FRCEF (Forterra Inc), GCWOF (GCP Applied Technologies Inc), and IMYSF (Imerys SA). Indocement's established brands and integrated operations position it well to capitalize on the increasing demand for cement and ready-mix concrete in the region.
Who Are PITPF's Key Customers?
- Construction companies involved in building residential, commercial, and industrial properties.
- Infrastructure developers working on roads, bridges, airports, and other public works projects.
- Retail customers purchasing cement and concrete for small-scale construction and renovation projects.
- Government agencies involved in infrastructure development and public housing projects.
How PT Indocement Tunggal Prakarsa Tbk Is Valued
PT Indocement Tunggal Prakarsa Tbk carries a market capitalization of $2.27B, placing it in the mid-cap category. Relative to its peer group, PITPF's quantitative score of 51/100 is roughly in line with the peer average of 45/100.
Company Profile
PT Indocement Tunggal Prakarsa Tbk operates in the Construction Materials industry within the Basic Materials sector. It is headquartered in Jakarta, ID. The company is led by CEO Christian Kartawijaya. PITPF has traded publicly since 2013.
ROE 10%Key Financial Metrics
Return on equity for PT Indocement Tunggal Prakarsa Tbk stands at 10.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 7.2%, showing how much profit it generates from its asset base. PITPF trades at a trailing price-to-earnings ratio of 6.19, below the Basic Materials sector average of ~22x. Its free cash flow yield is 16.7%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.67 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 16.2%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 6/9Financial Health
PT Indocement Tunggal Prakarsa 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 3.91 places it in the safe zone, indicating low near-term bankruptcy risk.
FY2026 estForward Outlook
Wall Street analysts project PT Indocement Tunggal Prakarsa Tbk revenue of about $17.15T for fiscal 2026, with EPS near $479.32. The estimate reflects 10 contributing analysts.
PITPF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Insider buying has been noted recently, indicating confidence from leadership in the company's future performance.
- Community sentiment has shifted positively, with discussions highlighting the potential for growth in the construction sector.
- Analysts are optimistic about the company's ability to capitalize on infrastructure projects in Indonesia, suggesting strong demand for cement.
- Recent announcements regarding sustainable practices have resonated with environmentally-conscious investors, enhancing the company's reputation.
Bear Case
- Concerns have emerged regarding rising raw material costs, which could pressure profit margins in the near term.
- Social sentiment reflects caution, with some investors worried about potential regulatory changes in the construction industry.
- Market perception is mixed, as some analysts express skepticism about the company's ability to maintain its competitive edge amidst increasing competition.
- Recent geopolitical tensions may impact supply chains, raising doubts about operational stability in the coming months.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
PITPF Latest News
No recent news available for PITPF.
PITPF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for PITPF.
Price Targets
Wall Street price target analysis for PITPF.
PITPF MoonshotScore
What does this score mean?
The MoonshotScore rates PITPF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Christian Kartawijaya
CEO
Christian Kartawijaya serves as the CEO of PT Indocement Tunggal Prakarsa Tbk, leading a workforce of over 4,500 employees. His career spans various leadership roles within the construction materials industry. He brings extensive experience in strategic planning, operational management, and market development. Kartawijaya is recognized for his expertise in driving growth and innovation within the company, focusing on sustainable practices and efficient resource management. His educational background includes advanced studies in engineering and business administration.
Track Record: Under Christian Kartawijaya's leadership, PT Indocement Tunggal Prakarsa Tbk has maintained its position as a leading cement producer in Indonesia. He has overseen significant investments in production capacity and technology upgrades, enhancing the company's efficiency and competitiveness. Kartawijaya has also focused on expanding the company's product portfolio and strengthening its distribution network. Key milestones include successful navigation of economic challenges and maintaining profitability through strategic cost management.
PITPF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that PT Indocement Tunggal Prakarsa Tbk may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier may have limited or no financial disclosure, making it difficult for investors to assess their financial health and operational performance. Investing in OTC Other stocks carries higher risks compared to stocks listed on major exchanges like NYSE or NASDAQ due to the lack of regulatory oversight and transparency.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited financial disclosure increases the risk of investing in PITPF.
- Lower liquidity can lead to difficulties in buying or selling shares.
- Potential for price manipulation due to less regulatory oversight.
- Higher volatility compared to stocks listed on major exchanges.
- Risk of delisting or suspension from the OTC market.
- Verify the company's registration and legal status.
- Obtain and review any available financial statements.
- Assess the company's management team and their experience.
- Research the company's industry and competitive landscape.
- Understand the risks associated with investing in OTC stocks.
- Consult with a financial advisor before investing.
- Check for any regulatory actions or legal issues involving the company.
- Established operations in Indonesia with a long history.
- Well-known brands such as Tiga Roda and Rajawali.
- Subsidiary of Birchwood Omnia Limited, providing some level of oversight.
- Presence in the construction materials industry, which has tangible assets and operations.
What Investors Ask About PT Indocement Tunggal Prakarsa Tbk (PITPF) — Basic Materials
What does PT Indocement Tunggal Prakarsa Tbk do?
PT Indocement Tunggal Prakarsa Tbk is a leading Indonesian manufacturer of cement and ready-mix concrete. The company operates through three segments: Cement, Ready-Mix Concrete, and Aggregates Quarries. It produces various types of cement, including Portland composite, Portland type I, II, and V, oil well, and white cement, marketed under the Tiga Roda, Rajawali, and Duracem brands. Additionally, it produces ready-mix concrete and quarries aggregates, clay, limestone, and trass, serving the construction industry both domestically and internationally.
What are the main risks for PITPF?
The main risks for PT Indocement Tunggal Prakarsa Tbk include fluctuations in raw material prices, such as limestone and clay, which can impact profitability. Economic downturns in Indonesia or globally could reduce construction activity and demand for cement. Intense competition from other cement producers in Indonesia could put pressure on prices and margins. Changes in government regulations related to construction, environmental protection, or trade could negatively impact the company. Currency exchange rate fluctuations could affect the value of export sales and the cost of imported raw materials.
What are the key factors to evaluate for PITPF?
PT Indocement Tunggal Prakarsa Tbk (PITPF) holds an AI score of 51/100 (moderate). Not financial advice.
How frequently does PITPF data refresh on this page?
PITPF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven PITPF's recent stock price performance?
PT Indocement Tunggal Prakarsa Tbk (PITPF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong brand recognition with Tiga Roda and Rajawali. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider PITPF overvalued or undervalued right now?
Valuing PT Indocement Tunggal Prakarsa Tbk (PITPF) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying PITPF?
Before investing in PT Indocement Tunggal Prakarsa Tbk (PITPF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding PITPF to a portfolio?
Key strength of PT Indocement Tunggal Prakarsa Tbk (PITPF): Strong brand recognition with Tiga Roda and Rajawali. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
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- Financial data is based on the most recent available information.
- OTC market information is subject to change and may not be readily available.