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

INDONESIA ENERGY CORP LTD (INDO) reported diluted earnings per share of -$0.35 for fiscal year 2025. This represents a 36.4% 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.

INDONESIA ENERGY CORP LTD Financials

INDO

FY2025 annual

Revenue $2.0M -24.6% YoY

Net Income -$5.1M +19.6% YoY

EPS (Diluted) -$0.35 +36.4% YoY

Free Cash Flow -$5.5M YoY not available

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Apr 29, 2026 Currency USD FYE December

INDONESIA ENERGY CORP LTD (INDO) reported $2.0M in revenue for fiscal year 2025, down 24.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).

Rhea AI INDO FY2025 2026-08-30

Persistent operating cash consumption is being funded by financing inflows while shrinking revenue keeps losses structurally high.

In FY2025, operating cash flow was -$5.4M versus a net loss of -$5.1M, showing that reported losses closely matched the cash drain rather than being mainly non-cash. Financing inflows of $6.6M alongside rising assets of $22.8M indicate that balance-sheet expansion depended more on external funding than on internally generated cash.

Revenue fell from $2.7M in FY2024 to $2.0M in FY2025, while selling, general and administrative expense also declined. Yet the net margin worsened from -237.6% to -253.2%, suggesting the expense reduction did not offset the loss of operating scale.

Reported leverage remains modest, with debt-to-equity at 0.2x and the current ratio at 5.1x in FY2025; this points to limited balance-sheet debt relative to equity and current obligations. However, the supplied liquidity comparison is zero months, while free cash flow reached -$5.5M, making cash generation—not debt load—the more immediate financing mechanic visible in the data.

Financial Health Signals

Financial Health Score 36/100

Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of INDONESIA ENERGY CORP LTD's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

Altman Z-Score Safe

4.92

INDONESIA ENERGY CORP LTD scores 4.92, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($42.9M) relative to total liabilities ($3.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/7

INDONESIA ENERGY CORP LTD passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

INDONESIA ENERGY CORP LTD reported a net loss of $5.1M while operations used $5.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$2.0M

YoY-24.6%

5Y CAGR+0.3%

INDONESIA ENERGY CORP LTD generated $2.0M in revenue in fiscal year 2025. This represents a decrease of 24.6% from the prior year.

EBITDA

-$4.0M

YoY+23.7%

INDONESIA ENERGY CORP LTD's EBITDA was -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 23.7% from the prior year.

Net Income

-$5.1M

YoY+19.6%

INDONESIA ENERGY CORP LTD reported -$5.1M in net income in fiscal year 2025. This represents an increase of 19.6% from the prior year.

EPS (Diluted)

-$0.35

YoY+36.4%

INDONESIA ENERGY CORP LTD earned -$0.35 per diluted share (EPS) in fiscal year 2025. This represents an increase of 36.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$5.5M

INDONESIA ENERGY CORP LTD recorded an outflow of $5.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex.

Cash & Debt

INDONESIA ENERGY CORP LTD held $0 in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

15M

YoY+10.6%

5Y CAGR+15.7%

INDONESIA ENERGY CORP LTD had 15M shares outstanding in fiscal year 2025. This represents an increase of 10.6% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

-25.9%

YoY+8.9pp

5Y CAGR+30.3pp

INDONESIA ENERGY CORP LTD's ROE was -25.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 8.9 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Capital Expenditures

$45K

INDONESIA ENERGY CORP LTD invested $45K in capex in fiscal year 2025, funding long-term assets and infrastructure.

R&D Spending

Not reported for fiscal year 2025.

Share Buybacks

Not reported for fiscal year 2025.

INDO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

INDO quarterly income statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	$2.0M-24.6%	$2.7M-24.3%	$3.5M-14.0%	$4.1M+67.1%	$2.5M+23.8%	$2.0M-52.7%	$4.2M-28.6%	$5.9M+58.1%	$3.7M
SG&A Expenses	$3.5M-33.2%	$5.2M+53.5%	$3.4M-26.8%	$4.6M-12.3%	$5.3M-19.6%	$6.5M+168.4%	$2.4M+20.7%	$2.0M+60.3%	$1.3M
Operating Income	-$4.6M+22.8%	-$5.9M-69.7%	-$3.5M+24.0%	-$4.6M+24.6%	-$6.1M+16.1%	-$7.3M-353.9%	-$1.6M-1217.0%	$143K+109.2%	-$1.6M
Interest Expense	N/A	N/A	N/A	$16K+6.5%	$15K-38.5%	$24K-18.8%	$30K-7.6%	$32K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	$0
Net Income	-$5.1M+19.6%	-$6.3M-139.9%	-$2.6M+13.7%	-$3.1M+49.6%	-$6.1M+12.5%	-$7.0M-315.3%	-$1.7M-1248.6%	$146K+109.1%	-$1.6M
EPS (Diluted)	-$0.35+36.4%	-$0.55-111.5%	-$0.26+25.7%	-$0.35+57.3%	-$0.82	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income, EPS (Diluted).

INDO Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

INDO quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$22.8M+3.8%	$21.9M+23.6%	$17.7M-13.9%	$20.6M+70.2%	$12.1M-22.4%	$15.6M-26.4%	$21.2M+114.2%	$9.9M	N/A
Current Assets	$7.5M+23.8%	$6.1M-0.4%	$6.1M-22.7%	$7.9M+122.7%	$3.5M-68.6%	$11.2M-25.4%	$15.1M+276.9%	$4.0M	N/A
Cash & Equivalents	$0	$0	$0	$0	$0-100.0%	$6.9M-43.6%	$12.2M+1262.1%	$899K+392.1%	$183K
Accounts Receivable	$343K-0.4%	$344K-40.9%	$582K+24.4%	$468K-53.1%	$998K-11.9%	$1.1M+222.8%	$351K-53.9%	$760K	N/A
Total Liabilities	$3.1M-16.8%	$3.7M+22.7%	$3.0M-6.6%	$3.3M-23.9%	$4.3M+32.7%	$3.2M-35.1%	$5.0M+3.3%	$4.8M	N/A
Current Liabilities	$1.5M-23.4%	$1.9M+18.1%	$1.6M+32.6%	$1.2M-57.1%	$2.8M+55.0%	$1.8M-33.3%	$2.7M+2.5%	$2.7M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	$1.0M0.0%	$1.0M-50.0%	$2.0M	N/A	N/A
Total Equity	$19.7M+8.1%	$18.2M+23.8%	$14.7M-15.2%	$17.3M+121.5%	$7.8M-36.7%	$12.4M-23.7%	$16.2M+219.2%	$5.1M+126.2%	-$19.4M
Retained Earnings	-$51.0M-11.1%	-$45.9M-16.0%	-$39.6M-7.2%	-$36.9M-9.2%	-$33.8M-21.9%	-$27.7M-33.4%	-$20.8M-8.8%	-$19.1M	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$22.8M-9.8%	$25.2M+15.1%	$21.9M+25.4%	$17.5M-1.4%	$17.7M-5.3%	$18.7M-9.1%	$20.6M+7.6%	$19.1M
Current Assets	$7.5M-24.8%	$10.0M+64.7%	$6.1M+18.5%	$5.1M-16.0%	$6.1M-10.0%	$6.8M-14.1%	$7.9M-9.8%	$8.7M
Cash & Equivalents	$0-100.0%	$10.5M	$0-100.0%	$2.6M	$0-100.0%	$5.9M	$0-100.0%	$4.9M
Accounts Receivable	$343K-30.3%	$492K+42.8%	$344K-22.5%	$444K-23.7%	$582K+7.4%	$542K+15.8%	$468K-61.5%	$1.2M
Total Liabilities	$3.1M-5.7%	$3.3M-11.8%	$3.7M-15.3%	$4.4M+44.9%	$3.0M+0.9%	$3.0M-7.4%	$3.3M-57.0%	$7.6M
Current Liabilities	$1.5M-6.8%	$1.6M-17.8%	$1.9M-28.8%	$2.7M+65.9%	$1.6M+23.9%	$1.3M+7.1%	$1.2M-62.3%	$3.2M
Total Equity	$19.7M-10.4%	$21.9M+20.6%	$18.2M+39.1%	$13.1M-11.0%	$14.7M-6.5%	$15.7M-9.4%	$17.3M+49.7%	$11.6M
Retained Earnings	-$51.0M-4.7%	-$48.8M-6.2%	-$45.9M-10.2%	-$41.7M-5.3%	-$39.6M-2.6%	-$38.6M-4.4%	-$36.9M-5.9%	-$34.9M

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

INDO Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

INDO quarterly cash flow statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	-$5.4M-76.1%	-$3.1M-3.6%	-$3.0M+7.1%	-$3.2M+9.6%	-$3.5M+31.6%	-$5.2M-1079.2%	-$440K-122.9%	$1.9M+1150.8%	-$183K
Capital Expenditures	$45K	N/A	N/A	$2K-99.5%	$312K	N/A	$0-100.0%	$2K-98.8%	$184K
Free Cash Flow	-$5.5M	N/A	N/A	-$3.2M+16.8%	-$3.9M	N/A	-$440K-122.9%	$1.9M+622.5%	-$367K
Investing Cash Flow	-$244K+91.4%	-$2.8M-572.6%	-$419K+92.3%	-$5.4M-96.3%	-$2.8M-672.3%	-$357K+65.8%	-$1.0M-22.5%	-$854K+46.5%	-$1.6M
Financing Cash Flow	$6.6M-21.9%	$8.4M	N/A	$12.9M	N/A	-$1.1M-108.6%	$13.1M+1021.5%	$1.2M-27.5%	$1.6M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22

Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

INDO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

INDO quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Operating Margin	-227.5%	-222.4%	-99.2%	-112.2%	-248.8%	-367.0%	-38.3%-40.7pp	2.5%+44.4pp	-41.9%
Net Margin	-253.2%	-237.6%	-75.0%-0.2pp	-74.8%	-248.0%	-351.0%	-40.0%-42.5pp	2.5%+45.8pp	-43.3%
Return on Equity	-25.9%+8.9pp	-34.8%-16.9pp	-18.0%-0.3pp	-17.7%+60.1pp	-77.8%-21.6pp	-56.3%-45.9pp	-10.3%-13.2pp	2.9%	N/A
Return on Assets	-22.4%+6.5pp	-28.9%-14.0pp	-14.9%0.0pp	-14.9%+35.4pp	-50.3%-5.7pp	-44.6%-36.7pp	-7.9%-9.4pp	1.5%	N/A
Current Ratio	5.13+2.0x	3.18-0.6x	3.77-2.7x	6.47+5.2x	1.25-4.9x	6.15+0.6x	5.50+4.0x	1.50	N/A
Debt-to-Equity	0.160.0x	0.200.0x	0.210.0x	0.19+0.1x	0.130.0x	0.080.0x	0.12-0.8x	0.95	N/A
FCF Margin	-272.3%	N/A	N/A	-78.3%	-157.4%	N/A	-10.5%-43.3pp	32.8%+42.7pp	-9.9%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Current Ratio	5.13-1.2x	6.36+3.2x	3.18+1.3x	1.91-1.9x	3.77-1.4x	5.19-1.3x	6.47+3.8x	2.71
Debt-to-Equity	0.160.0x	0.15-0.1x	0.20-0.1x	0.34+0.1x	0.210.0x	0.190.0x	0.19-0.5x	0.65

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.

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Where INDONESIA ENERGY CORP LTD Ranks

Frequently Asked Questions

What is INDONESIA ENERGY CORP LTD's annual revenue?

INDONESIA ENERGY CORP LTD (INDO) reported $2.0M in total revenue for fiscal year 2025. This represents a -24.6% 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 24.6% year-over-year, from $2.7M to $2.0M in fiscal year 2025.

Is INDONESIA ENERGY CORP LTD profitable?

No, INDONESIA ENERGY CORP LTD (INDO) reported a net income of -$5.1M in fiscal year 2025.

What is INDONESIA ENERGY CORP LTD's EBITDA?

INDONESIA ENERGY CORP LTD (INDO) had EBITDA of -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is INDONESIA ENERGY CORP LTD's return on equity (ROE)?

INDONESIA ENERGY CORP LTD (INDO) has a return on equity of -25.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

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

INDONESIA ENERGY CORP LTD (INDO) recorded an outflow of $5.5M in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

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

INDONESIA ENERGY CORP LTD (INDO) recorded an outflow of $5.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are INDONESIA ENERGY CORP LTD's total assets?

INDONESIA ENERGY CORP LTD (INDO) had $22.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are INDONESIA ENERGY CORP LTD's capital expenditures?

INDONESIA ENERGY CORP LTD (INDO) invested $45K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does INDONESIA ENERGY CORP LTD have outstanding?

INDONESIA ENERGY CORP LTD (INDO) had 15M shares outstanding as of fiscal year 2025.

What is INDONESIA ENERGY CORP LTD's current ratio?

INDONESIA ENERGY CORP LTD (INDO) had a current ratio of 5.13 as of fiscal year 2025, 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 0.16 as of fiscal year 2025, 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 -22.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

How does INDONESIA ENERGY CORP LTD's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, INDONESIA ENERGY CORP LTD (INDO) held $0 in cash, cash equivalents and investments, and reported an operating cash outflow of $5.4M over that year. Dividing the one by the other, the reported balance equals about 0 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is INDONESIA ENERGY CORP LTD's Altman Z-Score?

INDONESIA ENERGY CORP LTD (INDO) has an Altman Z-Score of 4.92, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

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

INDONESIA ENERGY CORP LTD (INDO) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $5.1M while operations used $5.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 36 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.