# PT Indo Tambangraya Megah Tbk (ITMG)

> ITMG · IDX · Energy, coal mining · Indonesia · SAK · Fiscal year ends December
>
> Latest report: FY2025, the fiscal year ended 31 December 2025, its statements approved by the board on 25 February 2026. Snapshot FY2025_bffcc0b7.

Page: https://annalist.io/company/indo-tambangraya-megah/

Identifiers: LEI 52990056ZNHB217ZKL92

## Latest Figures

| Figure | Value | Exact value | Unit | Change | Period | Period end | Source documents |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue, fiscal year | $1.9bn | 1881107000 | USD | −18.4% year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Profit before tax, fiscal year | $287m | 287214000 | USD | −42.0% year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Net income, fiscal year | $191m | 190940000 | USD | −49.0% year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Diluted EPS, fiscal year | $0.17 | 0.17 | USD/shares | −48.5% year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Pre-tax margin, fiscal year | 15.3% | 15.2683 | % | −6.2pp year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Return on equity, fiscal year | 10.0% | 9.98 | % | −10.2pp year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |

- Pre-tax margin: Income before income taxes / revenue.
- Return on equity: Net income attributable to the company / average shareholders' equity attributable to the company.

## Key Findings

Each finding is a sentence written by a fixed rule from the figures; the mark in brackets is how the finding moved against the report before.

- Revenue for the fiscal year ended 31 December 2025 was US$1.9 billion, 18.4% lower than in the previous fiscal year. [Strengthened in FY2025] Sources: Annual report 2025-12.
- Net income attributable to the company for fiscal 2025 was US$191 million, 49.0% lower than in the previous fiscal year. [Strengthened in FY2025] Sources: Annual report 2025-12.
- Return on equity for fiscal 2025 was 10.0%, against 20.1% a year earlier. [Strengthened in FY2025] Sources: Annual report 2025-12, Annual report 2024-12.
- Free cash flow for fiscal 2025 was US$206 million, and operating cash flow was 1.5 times net income attributable to the company. [Weakened in FY2025] Sources: Annual report 2025-12.
- Cash and short-term investments exceeded total debt by US$719 million at 31 December 2025. [Weakened in FY2025] Sources: Annual report 2025-12.
- Lease-adjusted debt was 0.2 times adjusted EBITDA for fiscal 2025, and funds from operations equalled 306.9% of that debt. Both ratios are within the minimal band of the S&P standard volatility table. [Confirmed in FY2025] Sources: Annual report 2025-12.
- Cash, short-term investments and operating cash flow for fiscal 2025 equalled 8.7 times the sum of debt due within 12 months, capital expenditure and dividends. [Weakened in FY2025] Sources: Annual report 2025-12.
- Operating cash flow for fiscal 2025 exceeded net income attributable to the company by an amount equal to 3.9% of average total assets. [Strengthened in FY2025] Sources: Annual report 2025-12.
- The Altman Z'' score for fiscal 2025 was 9.45, above the safe threshold of 2.60. [Weakened in FY2025] Sources: Annual report 2025-12.
- The Beneish M-score for fiscal 2025 was minus 2.75, below the model threshold of minus 1.78. [Confirmed in FY2025] Sources: Annual report 2025-12.
- The Piotroski F-score for fiscal 2025 was 5 of 9. The 4 signals not met were return on assets higher than a year earlier, current ratio higher than a year earlier, margin higher than a year earlier and asset turnover higher than a year earlier. [Confirmed in FY2025] Sources: Annual report 2024-12, Annual report 2025-12.

## Fiscal Years

| Fiscal year | Year end | Item | Value | Exact value | Unit | Source documents |
| --- | --- | --- | --- | --- | --- | --- |
| FY2025 | 2025-12-31 | Revenue | $1.9bn | 1881107000 | USD | Annual report 2025-12 |
| FY2025 | 2025-12-31 | Profit attributable to owners of the parent | $191m | 190940000 | USD | Annual report 2025-12 |
| FY2024 | 2024-12-31 | Revenue | $2.3bn | 2304497000 | USD | Annual report 2025-12 |
| FY2024 | 2024-12-31 | Profit attributable to owners of the parent | $374m | 374119000 | USD | Annual report 2025-12 |
| FY2023 | 2023-12-31 | Revenue | $2.4bn | 2374315000 | USD | Annual report 2024-12 |
| FY2023 | 2023-12-31 | Profit attributable to owners of the parent | $500m | 500331000 | USD | Annual report 2024-12 |
| FY2022 | 2022-12-31 | Revenue | $3.6bn | 3636213000 | USD | Annual report 2023-12 |
| FY2022 | 2022-12-31 | Profit attributable to owners of the parent | $1.2bn | 1200071000 | USD | Annual report 2023-12 |
| FY2021 | 2021-12-31 | Revenue | $2.1bn | 2076813000 | USD | Annual report 2021-12 |
| FY2021 | 2021-12-31 | Profit attributable to owners of the parent | $476m | 475570000 | USD | Annual report 2021-12 |

## Source Documents

- Annual report 2025-12: Annual report for the year to 31 December 2025, 25 Feb 2026, the date on which the board approved the statements (https://www.itmg.co.id/files/investor/ITM_Annual%20Report_2025_full.pdf)
- Annual report 2024-12: Annual report for the year to 31 December 2024, 26 Feb 2025, the date on which the board approved the statements (https://www.itmg.co.id/files/investor/ITM%20Annual%20Report%202024.pdf)
- Annual report 2023-12: Annual report for the year to 31 December 2023, 21 Feb 2024, the date on which the board approved the statements (https://www.itmg.co.id/files/investor/ITM%20Annual%20Report%202023.pdf)
- Annual report 2021-12: Annual report for the year to 31 December 2021, 23 Feb 2022, the date on which the board approved the statements (https://www.itmg.co.id/files/investor/ITM%20Annual%20Report%202021.pdf)

## Reliability

- 328 checks compare these figures with other official figures; 0 failed.
- 0 values are withheld because the filings do not prove them; a withheld value is absent, never estimated.
- Every earlier snapshot stays published: https://annalist.io/api/v1/companies/indo-tambangraya-megah/snapshots.json

## Cite

Annalist, PT Indo Tambangraya Megah Tbk, snapshot indo-tambangraya-megah/FY2025_bffcc0b7; <item>, <period>; source <document>. Link the page https://annalist.io/company/indo-tambangraya-megah/ and the source document of the figure.

A figure of a statement has an address of its own, which opens the page at that figure with its source documents: https://annalist.io/company/indo-tambangraya-megah/?fig=<statement>/<period>/<item>, for example https://annalist.io/company/indo-tambangraya-megah/?fig=pl_annual/FY2025/revenue

## Full Data

- [Every statement, ratio and document of this snapshot (JSON)](https://annalist.io/api/v1/companies/indo-tambangraya-megah/snapshots/FY2025_bffcc0b7/info.json)
- [Latest snapshot, at an address that does not change (JSON)](https://annalist.io/api/v1/companies/indo-tambangraya-megah/latest.json)
- [Income statement, annual (CSV)](https://annalist.io/api/v1/companies/indo-tambangraya-megah/snapshots/FY2025_bffcc0b7/pl_annual.csv)
- [Balance sheet, year end (CSV)](https://annalist.io/api/v1/companies/indo-tambangraya-megah/snapshots/FY2025_bffcc0b7/balance_sheet.csv)
- [Cash flow, annual (CSV)](https://annalist.io/api/v1/companies/indo-tambangraya-megah/snapshots/FY2025_bffcc0b7/cf_annual.csv)
- [Ratios, annual (JSON)](https://annalist.io/api/v1/companies/indo-tambangraya-megah/snapshots/FY2025_bffcc0b7/ratios/annual.json)
- [Key findings with their history (JSON)](https://annalist.io/api/v1/companies/indo-tambangraya-megah/findings.json)
- [New reports and findings (Atom feed)](https://annalist.io/company/indo-tambangraya-megah/feed.xml)
- [Excel workbook](https://annalist.io/company/indo-tambangraya-megah/indo-tambangraya-megah.xlsx)
- [Buyout model on these figures](https://annalist.io/deal-lab/buyout/indo-tambangraya-megah/)
- [Lenders, customers, suppliers and owners (brief in Markdown)](https://annalist.io/atlas/indo-tambangraya-megah/brief.md)
- [Lenders, customers, suppliers and owners (JSON)](https://annalist.io/api/v1/atlas/indo-tambangraya-megah.json)

## Peers

- [PT Adaro Andalan Indonesia Tbk](https://annalist.io/company/adaro-andalan/brief.md)
- [PT Alamtri Resources Indonesia Tbk](https://annalist.io/company/alamtri-resources/brief.md)
- [PT Bayan Resources Tbk](https://annalist.io/company/bayan-resources/brief.md)
- [Side by side](https://annalist.io/compare/?c=indo-tambangraya-megah,adaro-andalan,alamtri-resources,bayan-resources)

---

Figures come from official filings and are provided as they are, without warranty of accuracy or completeness. They are not investment advice.