PT Avia Avian Tbk

AVIA.JK

Chemicals - Specialty · Basic Materials

Price

350.00 IDR

-4.00 (-1.13%)

Market Cap

20.76T IDR

Exchange

Indonesia Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

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

How the score breaks down

Quality

Strong

Growth

Exceptional

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Good

Dividends

Strong

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Share count rising — dilution

+6.9% over 4y

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

Diluted shares outstanding: 56.16B (2021) → 60.03B (2025)

Winston Score History

The full picture

PT Avia Avian is Indonesia's largest paint and coatings manufacturer. It makes decorative paints, wood coatings, and adhesives sold under well-known local brands like Avian and No Drop. Its main customers are homeowners, contractors, and construction companies across Indonesia.

The company earns revenue by selling paint and related products through an extensive distribution network of thousands of retail points spanning the Indonesian archipelago. Its wide brand recognition, strong distributor relationships, and large-scale manufacturing give it a competitive edge in the domestic market. Growth is tied to Indonesia's expanding middle class and rising construction activity, but the business faces risks from volatile raw material costs and increasing competition from global paint brands entering the market.

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

+19.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+35.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 IDR/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

84.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

5.1T IDR cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

PT Avia Avian Tbk is a rare growth stock that's already generating positive cash flow while growing at 20%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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

40.6%

Healthy — 40.6% gross margin

Profit after running costs

Operating Margin

24.9%

Excellent — 24.9% operating margin

Return on the money invested

ROCE

22.9%

Exceptional — 22.9% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+14.2%

Fast-growing sales (+14.2% YoY)

Profit growth

EPS YoY

+19.8%

Earnings growing fast (+19.8% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

132%

Turns 132% of profit into real cash

Spare cash per sale

FCF Margin

22.6%

Converts sales into free cash efficiently (22.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

967.09x

Comfortably covers interest (967.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

10.9x

Attractive valuation — P/E 10.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-0.9

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

6.86%

Healthy income — 6.86% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+4.7%

Dividend growing modestly (4.7% YoY)

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