Indonesia Energy Corporation Limited

INDO

Oil & Gas Exploration & Production · Energy

Price

$2.91

-0.03 (-1.02%)

Market Cap

$44.8M

Exchange

New York Stock Exchange American

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+102.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 7.4M (2021) → 15.0M (2025)

Winston Score History

The full picture

Indonesia Energy Corporation Limited is a small oil and gas exploration and production company focused entirely on Indonesia. It searches for and extracts crude oil from onshore fields in Sumatra, one of Indonesia's main oil-producing islands. The company sells its oil to buyers in the Indonesian energy market.

The company earns revenue by selling crude oil, but its costs currently far exceed what it brings in, as shown by its deeply negative margins. It operates only in Indonesia, making it heavily exposed to a single country's regulations, politics, and oil prices. Its small size and lack of profitable production make it vulnerable — the main risk is that it may struggle to fund ongoing drilling and operations without raising additional capital, which could dilute existing shareholders.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-23.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+64.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

35.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 months

$5M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Indonesia Energy Corporation Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-49.3%

Thin — -49.3% gross margin

Profit after running costs

Operating Margin

-261.9%

Losing money on operations — -261.9%

Return on the money invested

ROCE

-27.5%

Weak — -27.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-24.6%

Shrinking sales (-24.6% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-293.6%

Burning cash (-293.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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