PT Asuransi Maximus Graha Persada Tbk

ASMI.JK

Insurance - Diversified · Financial Services

Price

16.00 IDR

-1.00 (-5.88%)

Market Cap

143.33B IDR

Exchange

Indonesia Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

PT Asuransi Maximus Graha Persada Tbk is an Indonesian insurance company that sells general insurance products to individuals and businesses. Its core offerings include property, vehicle, and liability coverage, serving retail and commercial customers across Indonesia. The company operates in Indonesia's growing but competitive general insurance market.

The company earns money by collecting premiums from policyholders and investing those funds, which is the standard insurance revenue model. Its high gross margin reflects the nature of insurance accounting, but a negative operating margin and negative ROIC suggest the business is currently spending more than it earns after expenses — a sign it has not yet reached profitable scale. Indonesia's large and underinsured population offers a long-term growth opportunity, but the main risk is that rising claims costs or intense price competition could keep the company unprofitable as it tries to expand its customer base.

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

+381.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

0 IDR/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

31.0%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

456.4B IDR cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

PT Asuransi Maximus Graha Persada Tbk grew revenue 382% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 8.96B (2021) → 8.96B (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

82.6%

Premium pricing power — 82.6% gross margin

Profit after running costs

Operating Margin

-12.2%

Losing money on operations — -12.2%

Return on the money invested

ROCE

-27.4%

Weak — -27.4% 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

+178.2%

Fast-growing sales (+178.2% YoY)

Profit growth

EPS YoY

-556.0%

Earnings shrinking (-556.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-5.0%

Burning cash (-5.0%)

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

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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