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PT Trimegah Sekuritas Indonesia Tbk

TRIM.JK
68
Financial - Capital Markets · Financial Services
Price
610.00 IDR
+0.00 (+0.00%)
Market Cap
4.34T IDR
Exchange
Indonesia Stock Exchange
Winston Score
68
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Exceptional
Growth
Exceptional
Cash Flow
Weak
Stability
Mixed
Valuation
Good
Dividends
Weak

Winston Score History

The full picture

PT Trimegah Sekuritas Indonesia Tbk is an Indonesian financial services company that helps people and businesses buy and sell stocks, bonds, and other investments. It operates as a securities brokerage and investment bank, serving retail investors, corporations, and institutional clients in Indonesia's capital markets. The company also offers asset management and investment advisory services.

Trimegah makes money by charging commissions on trades, earning fees from underwriting stock and bond offerings, and collecting management fees from investment products. It operates primarily in Indonesia, listed on the Indonesia Stock Exchange, and benefits from being one of the more established mid-sized brokerages in a market where financial literacy and retail investing participation are still growing. The key growth driver is Indonesia's expanding middle class and increasing interest in stock market investing, though the business faces real risk from market downturns, which can sharply reduce trading volumes and fee income.

Growth Profile

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

Revenue Growth

+64.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+229.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 IDR/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

48.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 years

4.8T IDR cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

4.8T IDR cash & investments at current burn rate

Revenue accelerating

PT Trimegah Sekuritas Indonesia Tbk grew revenue 64% 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: 7.11B (2021) → 7.11B (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
97.2%
Premium pricing power — 97.2% gross margin
Profit after running costs
Operating Margin
52.4%
Excellent — 52.4% operating margin
Return on the money invested
ROCE
16.3%
Strong — 16.3% 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
+65.4%
Fast-growing sales (+65.4% YoY)
Profit growth
EPS YoY
+114.0%
Earnings growing fast (+114.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
-178%
Weak — only -178% of profit becomes cash
Spare cash per sale
FCF Margin
-69.7%
Burning cash (-69.7%)

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
1.45
Elevated debt (1.45)
Covers its interest
Interest Cover
3.89x
Tight — interest eats into profit (3.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
6.1x
Attractive valuation — P/E 6.1

P/E under 10. The price tag is small relative to last year's profit.

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

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Dividends

Dividend
Dividend Yield
0.18%
Small dividend — 0.18% yield

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

Dividend record
Dividend Growth
-83.7%
Dividend cut (-83.7% YoY) — warning sign

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