Kalbe Farma stock gains 1.32 percent in Jakarta

Published on 10/08/2026 at 09:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kalbe Farma stock traded at IDR 765 on October 8, 2026, after opening at IDR 755. First-half revenue rose 14.05 percent, but net income fell 2.74 percent.

Kalbe Farma, ID1000125107, Illustration mit AI erstellt.

Kalbe Farma stock (ISIN ID1000125107) was trading at IDR 765 on the Jakarta Stock Exchange on October 8, 2026, at 2:35 p.m. WIB, up 1.32 percent from the prior close. The move puts the Indonesian healthcare company in a sharper contrast between expanding sales and pressured profitability.

Sales grow while margins narrow

Kalbe Farma reported first-half 2026 revenue of IDR 19.48 trillion, an increase of 14.05 percent from the same period a year earlier, according to Kontan on September 28, 2026. Net income moved in the opposite direction, falling 2.74 percent year over year to IDR 1.97 trillion.

The margin signal is equally important: gross profit margin declined to 37.56 percent in the first half of 2026 from 41.14 percent a year earlier. Cost pressure therefore grew faster than revenue, leaving earnings as the central operating issue for the rest of the year.

Buyback remains a valuation factor

Kalbe Farma disclosed a planned IDR 500 billion share buyback on September 15, 2026, with the program scheduled to run through December 16, 2026, according to Pasardana. The company said the action would use internal funds, while the earnings benefit depends on the number of shares actually repurchased.

That trade-off matters because cash deployed for the buyback can reduce interest income, even as a lower share count may support earnings per share. The market is therefore weighing shareholder returns against the cost of defending profitability while imported input costs remain elevated.

Consensus target stays above the quote

Investing.com listed a Strong Buy consensus from 17 analysts, including 15 Buy ratings and 2 Hold ratings. Its average 12-month target was IDR 1,131, with a high estimate of IDR 1,700 and a low estimate of IDR 820.

For investors, the gap between the IDR 765 quote and the IDR 1,131 average target is less decisive than the earnings mix behind it. Revenue growth is already visible in the first-half numbers, while margin recovery must still show up in later reporting periods.

Kalbe Farma stock trades above IDR 760

Kalbe Farma stock was trading at IDR 765 on October 8, 2026, at 2:35 p.m. WIB, with an intraday range of IDR 755 to IDR 770 and a 52-week range of IDR 630 to IDR 1,345. Its market capitalization was IDR 34.6 trillion and trading volume was 31,728,800 shares.