INDONESIA ENERGY CORP LTD Financials

INDO

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 50/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

INDONESIA ENERGY CORP LTD has an operating margin of -222.4%, meaning the company retains $-222 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -99.2% the prior year.

Growth

INDONESIA ENERGY CORP LTD's revenue declined 24.3% year-over-year, from $3.5M to $2.7M. This contraction results in a growth score of 0/100.

Leverage

100

INDONESIA ENERGY CORP LTD carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 3.18, INDONESIA ENERGY CORP LTD holds $3.18 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Piotroski F-Score Weak

1/9

INDONESIA ENERGY CORP LTD passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.49x

For every $1 of reported earnings, INDONESIA ENERGY CORP LTD generates $0.49 in operating cash flow (-$3.1M OCF vs -$6.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows INDONESIA ENERGY CORP LTD (INDO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$2.7M

YoY-24.3%

5Y CAGR-8.6%

INDONESIA ENERGY CORP LTD generated $2.7M in revenue in fiscal year 2024. This represents a decrease of 24.3% from the prior year.

EBITDA

-$5.3M

YoY-88.6%

INDONESIA ENERGY CORP LTD's EBITDA was -$5.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 88.6% from the prior year.

Free Cash Flow

N/A

Net Income

-$6.3M

YoY-139.9%

INDONESIA ENERGY CORP LTD reported -$6.3M in net income in fiscal year 2024. This represents a decrease of 139.9% from the prior year.

EPS (Diluted)

$-0.55

YoY-111.5%

INDONESIA ENERGY CORP LTD earned $-0.55 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 111.5% from the prior year.

Cash & Debt

INDONESIA ENERGY CORP LTD held $0 in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

14M

YoY+34.1%

5Y CAGR+13.1%

INDONESIA ENERGY CORP LTD had 14M shares outstanding in fiscal year 2024. This represents an increase of 34.1% from the prior year.

Gross Margin

N/A

Operating Margin

-222.4%

YoY-123.3pp

5Y CAGR-184.1pp

INDONESIA ENERGY CORP LTD's operating margin was -222.4% in fiscal year 2024, reflecting core business profitability. This is down 123.3 percentage points from the prior year.

Net Margin

-237.6%

YoY-162.7pp

5Y CAGR-197.6pp

INDONESIA ENERGY CORP LTD's net profit margin was -237.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 162.7 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

INDO Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.7M-24.3%	$3.5M-14.0%	$4.1M+67.1%	$2.5M+23.8%	$2.0M-52.7%	$4.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$5.2M+53.5%	$3.4M-26.8%	$4.6M-12.3%	$5.3M-19.6%	$6.5M+168.4%	$2.4M
Operating Income	-$5.9M-69.7%	-$3.5M+24.0%	-$4.6M+24.6%	-$6.1M+16.1%	-$7.3M-353.9%	-$1.6M
Interest Expense	N/A	N/A	$16K+6.5%	$15K-38.5%	$24K-18.8%	$30K
Income Tax	N/A	N/A	N/A	N/A	N/A	$0
Net Income	-$6.3M-139.9%	-$2.6M+13.7%	-$3.1M+49.6%	-$6.1M+12.5%	-$7.0M-315.3%	-$1.7M
EPS (Diluted)	$-0.55-111.5%	$-0.26+25.7%	$-0.35+57.3%	$-0.82	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

INDO Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$21.9M+23.6%	$17.7M-13.9%	$20.6M+70.2%	$12.1M-22.4%	$15.6M-26.4%	$21.2M
Current Assets	$6.1M-0.4%	$6.1M-22.7%	$7.9M+122.7%	$3.5M-68.6%	$11.2M-25.4%	$15.1M
Cash & Equivalents	$0	$0	$0	$0-100.0%	$6.9M-43.6%	$12.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$344K-40.9%	$582K+24.4%	$468K-53.1%	$998K-11.9%	$1.1M+222.8%	$351K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.7M+22.7%	$3.0M-6.6%	$3.3M-23.9%	$4.3M+32.7%	$3.2M-35.1%	$5.0M
Current Liabilities	$1.9M+18.1%	$1.6M+32.6%	$1.2M-57.1%	$2.8M+55.0%	$1.8M-33.3%	$2.7M
Long-Term Debt	N/A	N/A	N/A	$1.0M0.0%	$1.0M-50.0%	$2.0M
Total Equity	$18.2M+23.8%	$14.7M-15.2%	$17.3M+121.5%	$7.8M-36.7%	$12.4M-23.7%	$16.2M
Retained Earnings	-$45.9M-16.0%	-$39.6M-7.2%	-$36.9M-9.2%	-$33.8M-21.9%	-$27.7M-33.4%	-$20.8M

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$25.2M+15.1%	$21.9M+23.6%	$17.7M-5.3%	$18.7M-9.1%	$20.6M+7.6%	$19.1M+58.2%	$12.1M-14.8%	$14.2M
Current Assets	$10.0M+64.7%	$6.1M-0.4%	$6.1M-10.0%	$6.8M-14.1%	$7.9M-9.8%	$8.7M+147.0%	$3.5M-60.5%	$8.9M
Cash & Equivalents	$10.5M	$0	$0-100.0%	$5.9M	$0-100.0%	$4.9M	$0-100.0%	$4.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$492K+42.8%	$344K-40.9%	$582K+7.4%	$542K+15.8%	$468K-61.5%	$1.2M+22.0%	$998K+51.4%	$659K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.3M-11.8%	$3.7M+22.7%	$3.0M+0.9%	$3.0M-7.4%	$3.3M-57.0%	$7.6M+76.8%	$4.3M+11.4%	$3.8M
Current Liabilities	$1.6M-17.8%	$1.9M+18.1%	$1.6M+23.9%	$1.3M+7.1%	$1.2M-62.3%	$3.2M+13.8%	$2.8M+15.9%	$2.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$1.0M	N/A
Total Equity	$21.9M+20.6%	$18.2M+23.8%	$14.7M-6.5%	$15.7M-9.4%	$17.3M+49.7%	$11.6M+48.0%	$7.8M-24.5%	$10.4M
Retained Earnings	-$48.8M-6.2%	-$45.9M-16.0%	-$39.6M-2.6%	-$38.6M-4.4%	-$36.9M-5.9%	-$34.9M-3.1%	-$33.8M-10.3%	-$30.7M

INDO Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$3.1M-3.6%	-$3.0M+7.1%	-$3.2M+9.6%	-$3.5M+31.6%	-$5.2M-1079.2%	-$440K
Capital Expenditures	N/A	N/A	$2K-99.5%	$312K	N/A	$0
Free Cash Flow	N/A	N/A	-$3.2M+16.8%	-$3.9M	N/A	-$440K
Investing Cash Flow	-$2.8M-572.6%	-$419K+92.3%	-$5.4M-96.3%	-$2.8M-672.3%	-$357K+65.8%	-$1.0M
Financing Cash Flow	$8.4M	N/A	$12.9M	N/A	-$1.1M-108.6%	$13.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

INDO Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-222.4%-123.3pp	-99.2%+13.1pp	-112.2%+136.6pp	-248.8%+118.2pp	-367.0%-328.7pp	-38.3%
Net Margin	-237.6%-162.7pp	-75.0%-0.2pp	-74.8%+173.3pp	-248.0%+102.9pp	-351.0%-310.9pp	-40.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-28.9%-14.0pp	-14.9%-0.0pp	-14.9%+35.4pp	-50.3%-5.7pp	-44.6%-36.7pp	-7.9%
Current Ratio	3.18-0.6	3.77-2.7	6.47+5.2	1.25-4.9	6.15+0.6	5.50
Debt-to-Equity	0.200.0	0.21+0.0	0.19+0.1	0.13+0.0	0.08-0.0	0.12
FCF Margin	N/A	N/A	-78.3%+79.1pp	-157.4%	N/A	-10.5%

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	6.36+3.2	3.18-0.6	3.77-1.4	5.19-1.3	6.47+3.8	2.71+1.5	1.25-2.4	3.65
Debt-to-Equity	0.15-0.1	0.200.0	0.21+0.0	0.190.0	0.19-0.5	0.65+0.5	0.13-0.2	0.37
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is INDONESIA ENERGY CORP LTD's annual revenue?

INDONESIA ENERGY CORP LTD (INDO) reported $2.7M in total revenue for fiscal year 2024. This represents a -24.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is INDONESIA ENERGY CORP LTD's revenue growing?

INDONESIA ENERGY CORP LTD (INDO) revenue declined by 24.3% year-over-year, from $3.5M to $2.7M in fiscal year 2024.

Is INDONESIA ENERGY CORP LTD profitable?

No, INDONESIA ENERGY CORP LTD (INDO) reported a net income of -$6.3M in fiscal year 2024, with a net profit margin of -237.6%.

What is INDONESIA ENERGY CORP LTD's earnings per share (EPS)?

INDONESIA ENERGY CORP LTD (INDO) reported diluted earnings per share of $-0.55 for fiscal year 2024. This represents a -111.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is INDONESIA ENERGY CORP LTD's EBITDA?

INDONESIA ENERGY CORP LTD (INDO) had EBITDA of -$5.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is INDONESIA ENERGY CORP LTD's operating margin?

INDONESIA ENERGY CORP LTD (INDO) had an operating margin of -222.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is INDONESIA ENERGY CORP LTD's net profit margin?

INDONESIA ENERGY CORP LTD (INDO) had a net profit margin of -237.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is INDONESIA ENERGY CORP LTD's operating cash flow?

INDONESIA ENERGY CORP LTD (INDO) generated -$3.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are INDONESIA ENERGY CORP LTD's total assets?

INDONESIA ENERGY CORP LTD (INDO) had $21.9M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does INDONESIA ENERGY CORP LTD have outstanding?

INDONESIA ENERGY CORP LTD (INDO) had 14M shares outstanding as of fiscal year 2024.

What is INDONESIA ENERGY CORP LTD's current ratio?

INDONESIA ENERGY CORP LTD (INDO) had a current ratio of 3.18 as of fiscal year 2024, which is generally considered healthy.

What is INDONESIA ENERGY CORP LTD's debt-to-equity ratio?

INDONESIA ENERGY CORP LTD (INDO) had a debt-to-equity ratio of 0.20 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is INDONESIA ENERGY CORP LTD's return on assets (ROA)?

INDONESIA ENERGY CORP LTD (INDO) had a return on assets of -28.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is INDONESIA ENERGY CORP LTD's cash runway?

Based on fiscal year 2024 data, INDONESIA ENERGY CORP LTD (INDO) had $0 in cash against an annual operating cash burn of $3.1M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is INDONESIA ENERGY CORP LTD's Piotroski F-Score?

INDONESIA ENERGY CORP LTD (INDO) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are INDONESIA ENERGY CORP LTD's earnings high quality?

INDONESIA ENERGY CORP LTD (INDO) has an earnings quality ratio of 0.49x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is INDONESIA ENERGY CORP LTD?

INDONESIA ENERGY CORP LTD (INDO) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.