Metrics
The numbers behind PT Saratoga Investama Sedaya Tbk: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in IDR millions unless noted.
Reading notes: Saratoga Investama Sedaya is an investment holding company: it has no operating revenue line. The tab's revenue breakdown is the company's own reported segment disclosure - Income (loss), defined in the note as net gain (loss) on investments in shares and other securities plus dividend and interest income - which is negative in loss years such as FY2023. All figures are in millions of Rupiah, the unit the audited statements are printed in ('Expressed in millions of Rupiah, unless otherwise stated'). Earnings per share are in whole Rupiah as printed. FY2021-FY2025 statement figures are each taken from that year's own annual report (audited consolidated financial statements, Exhibits A-D). FY2016-FY2020 figures in the long-term record come from the standardized data feed and carry no page links, except FY2020, which is cited to the comparative column of the FY2021 annual report. Segment definitions changed in the FY2021 filing: the pre-2021 scheme (Infrastructure / Natural resources / Consumer products / Head office and others) was replaced wholesale by Blue Chip / Digital technology / Growth focused / Others. The FY2021 annual report prints a bridge restating FY2020 onto the new scheme, so FY2020 is comparable; FY2016-FY2019 long-term totals are sums of the old-scheme segments and are shown without page links.
Share Price — Available History Since January 2026
The stock closed at IDR 1,760 on Jul 27, 2026 — down 4% over the window shown, trading between IDR 1,250 and IDR 2,010. At that close the stock trades at 3.3× FY2025 diluted EPS as reported below.
Source: market price feed, daily closes, Jan 2026–Jul 2026 — the feed marks this available history as partial. Price return only, excludes dividends.
FY2025 at a Glance
Diluted EPS
Source: FY2025 consolidated statements [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Income (Loss) by Segment
| Income (Loss) by Segment | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Blue Chip | 21,682,759 | 6,378,796 | (11,095,896) | 5,848,803 | 5,583,992 |
| Digital technology | 455,729 | (237,294) | (71,730) | (265,765) | (299,539) |
| Growth focused | 3,854,142 | 139,609 | 155,056 | (287,986) | 1,498,309 |
| Others | 72,271 | 57,563 | 9,535 | 32,238 | 223,757 |
| Total income (loss) | 26,064,901 | 6,338,674 | (11,003,035) | 5,327,290 | 7,006,519 |
Source: Notes to the consolidated financial statements — Segment Information. Segment income is net gain (loss) on investments in shares and other securities plus dividend and interest income. [5] [6] [7] [8]. Click any linked figure to open the filing page with the row highlighted.
Income Statement
Source: Consolidated Statements of Profit or Loss and Other Comprehensive Income (audited), as printed in each year's annual report. [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-28. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it.
Balance Sheet
Source: Consolidated Statements of Financial Position (audited). Saratoga presents an unclassified balance sheet — no current / non-current subtotals and no split of borrowings between current and long-term. [9] [10] [11] [12]. Click any linked figure to open the filing page with the row highlighted.
Cash Flow
Source: Consolidated Statements of Cash Flows (audited). Saratoga reports operating cash flows by the direct method; in FY2021-FY2023 capital expenditure and the investing subtotal are printed as a single combined line. [13] [14] [15] [16]. Click any linked figure to open the filing page with the row highlighted.
Reportable Segment Assets
| Reportable Segment Assets | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Blue Chip | 50,878,980 | 54,699,022 | 41,213,477 | 45,517,065 | 48,735,010 |
| Digital technology | 1,319,818 | 1,262,781 | 1,177,199 | 933,841 | 716,151 |
| Growth focused | 7,585,110 | 6,157,859 | 6,394,939 | 7,392,667 | 9,459,953 |
| Others | 1,367,619 | 1,651,488 | 2,159,505 | 3,998,284 | 3,599,728 |
| Total segment assets | 61,151,527 | 63,771,150 | 50,945,120 | 57,841,857 | 62,510,842 |
Source: Notes to the consolidated financial statements — Segment Information. [5] [6] [7] [8]. Click any linked figure to open the filing page with the row highlighted.
Net Asset Valuation by Investee
| Net Asset Valuation by Investee | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PT Tower Bersama Infrastructure Tbk. (TBIG) | 22,879,000 | 14,318,000 | 16,448,000 | 15,936,000 | 18,663,000 |
| PT Merdeka Copper Gold Tbk. (MDKA) | 16,299,000 | 18,223,000 | 12,238,000 | 7,668,000 | 10,806,000 |
| PT Alamtri Resources Indonesia Tbk. (ADRO, formerly Adaro Energy) | 10,925,000 | 18,692,000 | 11,557,000 | 11,800,000 | 8,789,000 |
| PT Adaro Andalan Indonesia Tbk. (AADI) | — | — | — | 9,375,000 | 8,226,000 |
| PT Mitra Pinasthika Mustika Tbk. (MPMX) | 2,897,000 | 2,834,000 | 2,657,000 | 2,492,000 | 2,442,000 |
Source: company filings [17] [18] [19] [20]. Click any linked figure to open the filing page with the row highlighted.
Effective Ownership in Listed Investees
| Effective Ownership in Listed Investees | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Tower Bersama Infrastructure (TBIG) | 34.2% | 26.7% | 31.5% | 31.6% | 31.6% |
| Merdeka Copper Gold (MDKA) | 18.3% | 18.3% | 18.8% | 19.4% | 19.4% |
| Alamtri Resources Indonesia / Adaro Energy (ADRO) | 15.2% | 15.2% | 15.2% | 15.8% | 16.5% |
| Mitra Pinasthika Mustika (MPMX) | 56.7% | 56.7% | 56.7% | 56.7% | 57.7% |
Source: company filings [17] [18] [19] [20]. Click any linked figure to open the filing page with the row highlighted.
Cash Income from the Portfolio
| Cash Income from the Portfolio | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Dividend income — Alamtri Resources / Adaro Energy (ADRO) | 1,098,000 | 1,906,000 | 2,138,000 | 3,121,000 | 1,515,000 |
| Dividend income — Adaro Andalan Indonesia (AADI) | — | — | — | — | 634,000 |
| Dividend income — Tower Bersama Infrastructure (TBIG) | 248,000 | 76,000 | 289,000 | 363,000 | 225,000 |
| Dividend income — Mitra Pinasthika Mustika (MPMX) | 291,000 | 455,000 | 342,000 | 291,000 | 304,000 |
| Total dividend income | 1,648,000 | 2,591,000 | 2,784,000 | 3,786,000 | 2,705,000 |
| Interest income | 8,000 | 18,000 | 24,000 | 63,000 | 162,000 |
Source: company filings [21] [22] [23] [24]. Click any linked figure to open the filing page with the row highlighted.
Capital Structure and Debt Service
| Capital Structure and Debt Service | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loan-to-value (LTV) | 6.0% | 1.0% | 0.5% | 3.0% | 0.8% |
| Net debt | 3,483,000 | 688,000 | 263,000 | 1,670,000 | 484,000 |
| Total debt / net equity | 0.1 | 0.0 | 0.0 | 0.1 | 0.0 |
| Profit for the year / average net equity | 57.0% | 8.0% | (19.0%) | 7.0% | 13.0% |
| Expense / income | 1.0% | 7.0% | (3.0%) | 7.0% | 6.0% |
Source: company filings [21] [25] [26] [27]. Click any linked figure to open the filing page with the row highlighted.
Shareholder Returns and Market Data
| Shareholder Returns and Market Data | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Dividend per share | — | 60.00 | 75.00 | 22.00 | 14.75 |
| Closing share price (year-end, Q4) | 2,800 | 2,530 | 1,640 | 2,090 | 1,580 |
| Market capitalization (year-end) | 37,982,000 | 34,319,000 | 22,246,000 | 28,351,000 | 21,432,000 |
| Average daily trading volume, Q4 (thousand shares) | 15,919 | 14,808 | 15,430 | 25,851 | 6,035 |
| Total employees | 61 | 59 | 64 | 65 | 67 |
Source: company filings [28] [29] [30] [31]. Click any linked figure to open the filing page with the row highlighted.
Long-Term Record
| Fiscal year | Total income (loss) | Profit (loss) before tax | Profit (loss) for the year | Diluted earnings (loss) per share | Net cash from (for) operating activities | Total equity |
|---|---|---|---|---|---|---|
| FY2016 | 7,478,300 | 6,585,135 | 5,703,425 | 417 | 292,736 | 19,366,537 |
| FY2017 | 3,815,061 | 3,250,592 | 3,161,638 | 241 | 1,922,507 | 22,287,359 |
| FY2018 | (6,178,886) | (6,685,056) | (6,134,832) | (454) | (378,929) | 15,964,248 |
| FY2019 | 8,241,125 | 7,738,088 | 7,344,118 | 539 | 674,502 | 22,774,165 |
| FY2020 | 9,186,701 | 8,693,225 | 8,823,332 | 643 | 366,699 | 31,396,627 |
| FY2021 | 26,064,901 | 25,696,068 | 24,891,826 | 1,825 | (362,643) | 56,014,782 |
| FY2022 | 6,338,674 | 5,858,672 | 4,626,223 | 338 | 3,707,312 | 59,816,437 |
| FY2023 | (11,003,035) | (11,309,265) | (10,151,341) | (741) | 1,407,919 | 48,788,224 |
| FY2024 | 5,327,290 | 4,915,226 | 3,291,496 | 240 | (1,031,484) | 51,772,808 |
| FY2025 | 7,006,519 | 6,608,617 | 7,322,326 | 538 | 1,384,281 | 58,918,834 |
Source: consolidated statements across filings; older years from the standardized feed [5] [13] [1] [9]. Click any linked figure to open the filing page with the row highlighted.
Operating KPIs
| KPI | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net Asset Value | 56,316,000 | 60,931,000 | 48,854,000 | 53,985,000 | 60,284,000 |
| Net Asset Value per share | 4,152 | 4,492 | 3,601 | 3,980 | 4,444 |
| Sum of investee companies (portfolio value) | 59,799,000 | 61,619,000 | 49,116,000 | 55,655,000 | 60,768,000 |
Source: company-reported operating metrics [17] [18] [19] [20]. Click any linked figure to open the filing page with the row highlighted.
Analyst Consensus
Mean target
Median target
High target
Low target
Street ratings: 1 strong buy, 1 buy. Consensus: Strong Buy.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-28. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it.
Traceability
546 of 570 figures on this page (96%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.
Saratoga Investama Sedaya is an investment holding company: it has no operating revenue line. The tab's revenue breakdown is the company's own reported segment disclosure - Income (loss), defined in the note as net gain (loss) on investments in shares and other securities plus dividend and interest income - which is negative in loss years such as FY2023.
All figures are in millions of Rupiah, the unit the audited statements are printed in ('Expressed in millions of Rupiah, unless otherwise stated'). Earnings per share are in whole Rupiah as printed.
FY2021-FY2025 statement figures are each taken from that year's own annual report (audited consolidated financial statements, Exhibits A-D). FY2016-FY2020 figures in the long-term record come from the standardized data feed and carry no page links, except FY2020, which is cited to the comparative column of the FY2021 annual report.
Segment definitions changed in the FY2021 filing: the pre-2021 scheme (Infrastructure / Natural resources / Consumer products / Head office and others) was replaced wholesale by Blue Chip / Digital technology / Growth focused / Others. The FY2021 annual report prints a bridge restating FY2020 onto the new scheme, so FY2020 is comparable; FY2016-FY2019 long-term totals are sums of the old-scheme segments and are shown without page links.
Income-statement labels follow the FY2025 annual report. Earlier filings word some lines differently - FY2022 and FY2023 print 'Dividend, interest and investment income' where FY2024-FY2025 print 'Dividend and interest income', and FY2021-FY2022 print 'other equity securities' where later years print 'other securities'. The amounts are on the same basis.
Saratoga presents an unclassified balance sheet: no current / non-current subtotals and no split of borrowings between current and long-term in any year.
The Net Asset Value KPIs are taken from the Management Discussion and Analysis value-generation table, which is printed in IDR billion. Their values are restated into the tab's IDR-millions scale (FY2025 NAV of 60,284 billion is shown as 60,284,000); the citation anchor is the figure as printed on the page.
Quarterly profit-or-loss and cash-flow statements are printed year-to-date only (three, six and nine months). Quarters after Q1 are derived as the exact difference of two printed year-to-date figures and are marked as such; balance-sheet quarters are point-in-time and are as printed. No quarterly numeric feed exists in this run, so the derived quarters could not be cross-checked against a provider series.
5 figure(s) differed between the data feed and the filing; the filing value is shown (see the run's metrics/metrics_tab.json for the audit trail).