PT Mitra Keluarga Karyasehat Tbk - MIKA.IJ
Earnings on Track
MIKA’s revenue in 2Q26 reached IDR 1.4 trillion, up 4.1% QoQ, bringing 1H26 revenue to IDR 2.7 trillion, up 8.0% YoY, driven by a continued improvement in revenue mix. MIKA reported 2Q26 net profit of IDR 358 billion, up 10.0% QoQ, bringing 1H26 net profit to IDR 684 billion, up 6.9% YoY.
We reiterate our BUY rating on MIKA with a target price of IDR 2,500, implying 34.4% upside from the current share price. Our target price is based on a DCF valuation and implies FY27F P/E and P/BV multiples of 22.6x and 3.6x, respectively. We maintain our positive view on MIKA, supported by resilient earnings, improving revenue quality, and continued expansion of high-complexity services. Key risks include weaker-than- expected patient volumes, a slower ramp-up of new hospitals, and intensifying competition.
Full Report: https://www.poems.co.id/research/CF/082826.pdf
Equity Analyst
Helen | [email protected]
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August 28, 2026 754 1
