Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Multi Bintang (MLBI IJ) Q1 FY26: Solid Revenue Recovery Margins Improve Despite Rising Group Charges

Multi Bintang Indonesia (MLBI IJ) Q2 FY26:  Strong Revenue/Profit Growth 20%/30% YoY, 80%+ ROCE

Multi Bintang Indonesia (MLBI IJ): Slow Start to Q1 FY25

Multi Bintang Indonesia (MLBI IJ): Steady FY24, 9% Yield and >80% ROCE

Multi Bintang Indonesia (MLBI IJ) Q3 FY25: Resilient >9% Yield Intact, But No Inflection In Demand

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

Multi Bintang Indonesia / Equity Bottom-Up

<ul>
<li>FY2025 revenue grew 4.7% YoY to Rph 3,543 bn, with net profit up 3.6% YoY to Rph 1,184 bn, as a strong Q4 (flat YoY) offset a subdued 9M.</li>
<li>Q4 2025 revenue was up 11% YoY at Rph 1,174 bn; One of the better seasonal performances in recent times. Gross margin expanded 110 bps YoY to 68.1%.</li>
<li>
<a href="https://www.smartkarma.com/entities/multi-bintang-indonesia-pt" target="_blank" data-smartkarma-citation="entities:11651:1" rel="noopener">Multi Bintang Indonesia (MLBI IJ)</a> is a market leader, a cheap 9.7x PE stock with a ~10% dividend yield and a 90% ROCE. </li>
</ul>


FY2025 revenue grew 4.7% YoY to Rph 3,543 bn, with net profit up 3.6% YoY to Rph 1,184 bn, as a strong Q4 (flat YoY) offset a subdued 9M.
Q4 2025 revenue was up 11% YoY at Rph 1,174 bn; One of the better seasonal performances in recent times. Gross margin expanded 110 bps YoY to 68.1%.

Multi Bintang Indonesia (MLBI IJ) is a market leader, a cheap 9.7x PE stock with a ~10% dividend yield and a 90% ROCE. 


Multi Bintang Indonesia (MLBI IJ): Trading At A 10% Dividend Yield, With 90% ROCE