Primer: Kalbe Farma (KLBF IJ) - Dec 2025
Kalbe Farma is the largest publicly-listed pharmaceutical company in Indonesia and Southeast Asia, with a diversified business model spanning...
224 Views
Kalbe Farma (KLBF.IJ) 3Q25: In-Line; Broad-Based Revenue Recovery Offsets Margin Pressure...
Broad-based 3Q25 revenue rebound managed to offset margin drag due to higher BPJS pharma, non-dairy mix, and elevated selling expenses.
218 Views
Equity Strategy: FY26 Outlook: Still a Stock Picker’s Market Amid Gradual Growth Recovery
We set the FY26-end JCI target at 9,440; Our bottom-up total-return screen highlights BBCA, ISAT, JPFA, ASII, KLBF, AADI, NCKL, ICBP as key picks.
93 Views
Kalbe Farma (KLBF.IJ) - A Beaten Down Blue Chip; Stable IDR Limits EPS Downside Risk
We view KLBF’s share price decline over the past 3M (-24%) as unwarranted given its resilient 1H25 core profit of +6% yoy vs. peers -7%.
257 Views
Kalbe Farma (KLBF.IJ) Sustainable Moat Underpins Steady Earnings Growth
1Q25 strong earnings were driven by cost-efficiency; we expect 2Q25 revenue to normalize post-Eid yet still on-track to meet FY25F guidance.
405 Views