Indonesia Energy Corporation Limited (INDO) AI Stock Analysis

Indonesia Energy Corporation Limited is an oil and gas exploration and production company operating in Indonesia. Established in 2018 and headquartered in Jakarta, the company focuses on developing its asset portfolio, which features the Kruh Block and the Citarum Block. The Kruh Block spans 258 square kilometers northwest of Pendopo, Pali, in South Sumatra, holding net crude oil proved reserves of 1.52 million barrels. The Citarum Block encompasses 3,924.67 square kilometers onshore in West Java for ongoing exploration activities. Supported by its affiliation with parent company Maderic Holding Limited, the company employs 39 people and seeks to optimize resource extraction across its holdings.

INDO recorded trailing twelve month revenue of $2.7M with quarterly revenue growth of 66.4% year-over-year for the period ending June 30, 2026. However, annual revenue contracted in recent fiscal years, falling 14.0% in FY2023 to $3.5M, 24.3% in FY2024 to $2.7M, and 24.6% in FY2025 to $2.0M. The company's five-year revenue compound annual growth rate from FY2020 to FY2025 was 0.3%. Profitability has remained negative across all reported years. In FY2025, gross margin stood at -55.9%, operating margin was -268.3%, and net loss was -$5.1M, representing a net margin of -253.4%. Operating cash flow was -$5.4M and free cash flow was -$5.5M in FY2025.

As of June 30, 2026, Indonesia Energy held $5.6M in cash and short-term investments alongside total debt of $509,203, resulting in net cash of $5.1M. The company reported shareholders' equity of $20.1M and total assets of $22.7M. Liquidity indicators show a current ratio of 5.49 and a debt-to-equity ratio of 0.03. In FY2025, capital expenditures were $44,691, while operating cash flow remained negative at -$5.4M. The company does not conduct share repurchases, and its share count expanded 104.0% over five years.

With a market capitalization of $40.0M and enterprise value of $39.4M, INDO trades at a price-to-sales multiple of 14.7x and an enterprise value-to-revenue multiple of 19.6x. These multiples stand well above the median of its US-listed Energy peers, which trades at a price-to-sales ratio of 1.8x. INDO carries a price-to-book ratio of 2.2x. Over the past year, the stock declined 4.1% compared to a 16.8% gain for the S&P 500 (SPY). Over five years, INDO fell 41.4% while the S&P 500 gained 83.0%.

One analyst covers Indonesia Energy Corporation Limited, issuing a Strong Buy rating. The mean price target is $10.00, implying an upside potential of 284.6% above the last closing price of $2.60 on October 16, 2026. Over the last four quarters, the company recorded zero EPS beats. Trailing twelve month earnings per share stood at -$0.28.

This page is an AI-written research summary of Indonesia Energy Corporation Limited (INDO). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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