PT Krakatau Steel (Persero) Tbk

KRAS.JK

Steel · Basic Materials

Price

228.00 IDR

+0.00 (+0.00%)

Market Cap

4.41T IDR

Exchange

Indonesia Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−21.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 24.69B (2021) → 19.35B (2025)

PT Krakatau Steel is Indonesia's largest state-owned steel producer. It makes steel products like hot-rolled coil, cold-rolled coil, wire rod, and steel bars, which are sold to construction companies, manufacturers, and industrial customers across Indonesia. The company operates large integrated steel mills in Cilegon, West Java, and is majority-owned by the Indonesian government.

The company earns money by selling steel products directly to businesses and through its distribution network. It operates primarily in Indonesia, though it exports some output to regional markets. Despite its dominant position in the domestic market, Krakatau Steel faces intense competition from cheaper imported steel, particularly from China, which has kept profit margins very thin and pushed operating results into negative territory in recent periods. The company's main challenge is cutting production costs and modernizing its aging facilities fast enough to compete on price without relying heavily on government support or trade protections.

Winston Score History

Growth Profile

For growth stock investors

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

Revenue Growth

+54.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+109.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

80.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~9 years

$696M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$696M cash & investments at current burn rate

Revenue accelerating

PT Krakatau Steel (Persero) Tbk grew revenue 55% 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

7.9%

Thin — 7.9% gross margin

Operating Margin

1.4%

Thin — 1.4% operating margin

ROCE

0.3%

Weak — 0.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+14.0%

Fast-growing sales (+14.0% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Cash Conversion

-29%

Weak — only -29% of profit becomes cash

FCF Margin

-14.7%

Burning cash (-14.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

1.73

Elevated debt (1.73)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

0.6x

Attractive valuation — P/E 0.6

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

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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