PT Adhi Commuter Properti Tbk (ISX:ADCP) Operating Income: Rp-24,765 Mil (TTM As of Dec. 2025)

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ISX:ADCP PT Adhi Commuter Properti Tbk ISX:ADCP
44 GF Score
Price Rp50.00
GF Value Rp19.41
Valuation Significantly Overvalued
! 7 Warning Signs
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What is PT Adhi Commuter Properti Tbk Operating Income?

PT Adhi Commuter Properti Tbk ISX:ADCP 44 Operating Income is Rp-24,765 Mil as of Dec. 2025. GuruFocus rates ISX:ADCP with a GF Score™ of 44/100 and a GF Value™ of Rp19.41 (Significantly Overvalued). The stock has 7 warning signs investors should review.

PT Adhi Commuter Properti Tbk's Operating Income for the three months ended in Dec. 2025 was Rp-40,512 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was Rp-24,765 Mil.

Warning Sign:

PT Adhi Commuter Properti Tbk has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. PT Adhi Commuter Properti Tbk's Operating Income for the three months ended in Dec. 2025 was Rp-40,512 Mil. PT Adhi Commuter Properti Tbk's Revenue for the three months ended in Dec. 2025 was Rp31,800 Mil. Therefore, PT Adhi Commuter Properti Tbk's Operating Margin % for the quarter that ended in Dec. 2025 was -127.40%.

PT Adhi Commuter Properti Tbk's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. PT Adhi Commuter Properti Tbk's annualized ROC % for the quarter that ended in Dec. 2025 was -3.29%. PT Adhi Commuter Properti Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -1,241.82%.


PT Adhi Commuter Properti Tbk  (ISX:ADCP) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

PT Adhi Commuter Properti Tbk's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-162046.076 * ( 1 - 0.08% )/( (5762291.555 + 4077492.715)/ 2 )
=-161916.4391392/4919892.135
=-3.29 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6964132.209 - 1182712.505 - ( 19128.149 - max(0, 2448477.857 - 3723810.014+19128.149))
=5762291.555

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5051719.392 - 1180904.921 - ( 28184.959 - max(0, 2685877.662 - 2479199.418+28184.959))
=4077492.715

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

PT Adhi Commuter Properti Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-8225969.196/( ( (341.995 + max(1324313.548, 0)) + (170.796 + max(-218348.195, 0)) )/ 2 )
=-8225969.196/( ( 1324655.543 + 170.796 )/ 2 )
=-8225969.196/662413.1695
=-1,241.82 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(28053.829 + 3483888.117 + 136556.35) - (1182712.505 + 0 + 1141472.243)
=1324313.548

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(10303.971 + 2414849.713 + 9817.1890000002) - (1180904.921 + 0 + 1472414.147)
=-218348.195

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

PT Adhi Commuter Properti Tbk's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-40511.519/31799.765
=-127.40 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


PT Adhi Commuter Properti Tbk Operating Income Related Terms


PT Adhi Commuter Properti Tbk Operating Income Historical Data

* Premium members only.

The historical data trend for PT Adhi Commuter Properti Tbk's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

PT Adhi Commuter Properti Tbk Operating Income Chart

PT Adhi Commuter Properti Tbk Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial 117,385.95 119,895.78 133,042.50 52,828.99 -24,764.53

PT Adhi Commuter Properti Tbk Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -8,353.58 8,465.97 -92.09 7,373.11 -40,511.52
ISX:ADCP
44GF Score
PT Adhi Commuter Properti Tbk ISX:ADCP
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Adhi Commuter Properti Tbk Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp-24,765 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of Rp-24,765 Mil mean?
PT Adhi Commuter Properti Tbk (ISX:ADCP) has a Operating Income of Rp-24,765 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on PT Adhi Commuter Properti Tbk and its competitors.
Is PT Adhi Commuter Properti Tbk's Operating Income too high?
PT Adhi Commuter Properti Tbk's current Operating Income is Rp-24,765 Mil. Overall, PT Adhi Commuter Properti Tbk has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Adhi Commuter Properti Tbk's Operating Income compare to competitors?
PT Adhi Commuter Properti Tbk's Operating Income of Rp-24,765 Mil can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Real Estate company?
A good Operating Income depends on the Real Estate industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on PT Adhi Commuter Properti Tbk and its competitors. PT Adhi Commuter Properti Tbk's current Operating Income is Rp-24,765 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Adhi Commuter Properti Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Adhi Commuter Properti Tbk (ISX:ADCP) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp19.41, compared to a current price of Rp50.00 — trading 157.6% above its estimated fair value. The current Operating Income is Rp-24,765 Mil. PT Adhi Commuter Properti Tbk's overall GF Score™ is 44/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For PT Adhi Commuter Properti Tbk (ISX:ADCP), the current Operating Income is Rp-24,765 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is PT Adhi Commuter Properti Tbk (ISX:ADCP) Overvalued in 2026?

Based on GuruFocus' analysis, PT Adhi Commuter Properti Tbk stock appears to be overvalued. The current stock price of Rp50.00 is trading 157.6% above its estimated GF Value™ of Rp19.41. GuruFocus considers PT Adhi Commuter Properti Tbk to be Significantly Overvalued.

Key valuation signals for ISX:ADCP:

  • Operating Income: Rp-24,765 Mil
  • GF Value™: Rp19.41 vs. price of Rp50.00 (157.6% above fair value)
  • GF Score™: 44/100 with 7 warning signs

No single metric tells the full story. See the ISX:ADCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


PT Adhi Commuter Properti Tbk Business Description

Address Jl. Raya Pasar Minggu KM 18, South Building PT Adhi Karya (Persero) Tbk, Jakarta, IDN, 13740
PT Adhi Commuter Properti Tbk is engaged in the development business in the Property, Real Estate, and Hotel Management sectors. The company conducts business activities including development, trading, services, and hotels. Its segments include Real Estate Property, Hotel, and Rent.
44GF Score

Get the complete analysis for ISX:ADCP

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Rp50.00
Price
Rp19.41
GF Value