PT Bekasi Asri Pemula Tbk

BAPA.JK

Real Estate - Development · Real Estate

Price

147.00 IDR

+2.00 (+1.38%)

Market Cap

97.28B 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

Weak

Growth

Good

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

PT Bekasi Asri Pemula Tbk is an Indonesian property developer based in Bekasi, a city in West Java near Jakarta. The company focuses on developing residential properties, including houses and housing estates, primarily targeting middle-income homebuyers in the greater Jakarta metropolitan area. It operates in Indonesia's real estate development industry, which is closely tied to population growth and urbanization around the capital.

The company earns money by selling residential units and land plots to individual buyers. It operates entirely within Indonesia and is a small-cap developer with limited scale compared to larger national peers like Ciputra or Summarecon. The financial data reflects significant challenges — negative gross and operating margins suggest the company is currently spending more than it earns from property sales, which is a serious concern. The key risk is whether the company can improve project execution and sales volumes enough to return to profitability, especially as rising construction costs and interest rates continue to pressure smaller Indonesian developers.

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

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+53.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 IDR/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

95.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 months

243M IDR cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Revenue accelerating

PT Bekasi Asri Pemula Tbk grew revenue 1575% 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: 661.8M (2021) → 661.8M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

25.5%

Modest — 25.5% gross margin

Profit after running costs

Operating Margin

-248.4%

Losing money on operations — -248.4%

Return on the money invested

ROCE

-5.3%

Weak — -5.3% 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

+49.1%

Fast-growing sales (+49.1% 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

-50.0%

Burning cash (-50.0%)

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

0.03

Conservative — low debt load (0.03)

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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