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PT Saraswanti Indoland Development Tbk

SWID.JK
53
Real Estate - Development · Real Estate
Price
126.00 IDR
+2.00 (+1.61%)
Market Cap
678.51B IDR
Exchange
Indonesia Stock Exchange
Winston Score
53
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 17, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Mixed
Cash Flow
Good
Stability
Strong
Valuation
Mixed
Dividends
Weak
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§Winston Score History

The full picture

PT Saraswanti Indoland Development is an Indonesian real estate developer that builds and sells residential housing, commercial properties, and mixed-use developments. Its projects are primarily located in Central Java, including the Semarang area, where it develops townships and housing estates for middle-income Indonesian families. The company is a regional developer with a strong presence in its home market rather than a nationwide operator.

Saraswanti makes money mainly by selling residential lots, houses, and commercial spaces within its planned developments. It operates exclusively in Indonesia and is listed on the Indonesia Stock Exchange. Its local land bank and established reputation in Central Java give it a competitive edge in that region. Key growth depends on continued urbanization and housing demand in secondary Indonesian cities, though the business faces risks from interest rate changes, property market cycles, and the challenge of scaling beyond its regional base.

Growth Profile

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

Revenue Growth

-43.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-81.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

0 IDR/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

79.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~6 months

17.1B IDR cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

PT Saraswanti Indoland Development Tbk 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.

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: 5.38B (2021) → 5.39B (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
58.0%
Premium pricing power — 58.0% gross margin
Profit after running costs
Operating Margin
21.5%
Excellent — 21.5% operating margin
Return on the money invested
ROCE
11.8%
Below par — 11.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+2.8%
Nearly flat sales (+2.8% YoY)
Profit growth
EPS YoY
-7.1%
Earnings shrinking (-7.1% YoY)

Slight earnings drop. Typical near a cyclical low.

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
323%
Turns 323% of profit into real cash
Spare cash per sale
FCF Margin
-11.3%
Burning cash (-11.3%)

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
0.62
Moderate — manageable debt (0.62)
Covers its interest
Interest Cover
25.85x
Comfortably covers interest (25.8x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
23.5x
Growth-priced — P/E 23.5

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
1.78%
Small dividend — 1.78% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
N/A
Data not available

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