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

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows INDONESIA ENERGY CORP LTD (INDO) financial statements, including the 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 FY2024 2026-04-29

Indonesia Energy's business currently runs on external funding, as recurring cash burn and a fixed overhead base outrun sales.

The balance sheet looks lightly levered, but liquidity appears to come from new capital rather than the business itself: FY2024 operating cash flow was -$3.1M while financing supplied $8.4M. Across FY2023 to FY2024, share count rose from 10.1M to 13.6M, which points to equity-funded endurance more than self-financed operations.

FY2024 revenue was $2.7M while SG&A reached $5.2M, so overhead alone exceeded sales. That mismatch helps explain why operating margin fell from -99.2% to -222.4%, which fits a fixed-cost-heavy model more than one where costs move neatly with revenue.

Assets expanded to $21.9M in FY2024 from $17.7M in FY2023. At the same time, return on assets moved to -28.9% from -14.9%, showing that a larger asset base is not yet producing better earnings output.

Financial Health Signals

Financial Health Score 13/100

Scored as: Emerging companies peer group

Scored against emerging 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.

Cash Runway

Dilution

Revenue Progress

Burn Trend

Balance Sheet

Altman Z-Score Safe

4.83

INDONESIA ENERGY CORP LTD scores 4.83, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($42.5M) 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 Low Quality

1.07x

For every $1 of reported earnings, INDONESIA ENERGY CORP LTD generates $1.07 in operating cash flow (-$5.4M OCF vs -$5.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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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 generated -$5.5M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

INDONESIA ENERGY CORP LTD held $0 in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

15M

YoY+10.2%

5Y CAGR+15.1%

INDONESIA ENERGY CORP LTD had 15M shares outstanding in fiscal year 2025. This represents an increase of 10.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-227.5%

YoY-5.1pp

5Y CAGR+139.5pp

INDONESIA ENERGY CORP LTD's operating margin was -227.5% in fiscal year 2025, reflecting core business profitability. This is down 5.1 percentage points from the prior year.

Net Margin

-253.2%

YoY-15.6pp

5Y CAGR+97.7pp

INDONESIA ENERGY CORP LTD's net profit margin was -253.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 15.6 percentage points from the prior year.

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.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$45K

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

INDO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.0M-24.6%	$2.7M-24.3%	$3.5M-14.0%	$4.1M+67.1%	$2.5M+23.8%	$2.0M
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	$3.5M-33.2%	$5.2M+53.5%	$3.4M-26.8%	$4.6M-12.3%	$5.3M-19.6%	$6.5M
Operating Income	-$4.6M+22.8%	-$5.9M-69.7%	-$3.5M+24.0%	-$4.6M+24.6%	-$6.1M+16.1%	-$7.3M
Interest Expense	N/A	N/A	N/A	$16K+6.5%	$15K-38.5%	$24K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$5.1M+19.6%	-$6.3M-139.9%	-$2.6M+13.7%	-$3.1M+49.6%	-$6.1M+12.5%	-$7.0M
EPS (Diluted)	$-0.35+36.4%	$-0.55-111.5%	$-0.26+25.7%	$-0.35+57.3%	$-0.82	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$22.8M+3.8%	$21.9M+23.6%	$17.7M-13.9%	$20.6M+70.2%	$12.1M-22.4%	$15.6M
Current Assets	$7.5M+23.8%	$6.1M-0.4%	$6.1M-22.7%	$7.9M+122.7%	$3.5M-68.6%	$11.2M
Cash & Equivalents	$0	$0	$0	$0	$0-100.0%	$6.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$343K-0.4%	$344K-40.9%	$582K+24.4%	$468K-53.1%	$998K-11.9%	$1.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	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
Current Liabilities	$1.5M-23.4%	$1.9M+18.1%	$1.6M+32.6%	$1.2M-57.1%	$2.8M+55.0%	$1.8M
Long-Term Debt	N/A	N/A	N/A	N/A	$1.0M0.0%	$1.0M
Total Equity	$19.7M+8.1%	$18.2M+23.8%	$14.7M-15.2%	$17.3M+121.5%	$7.8M-36.7%	$12.4M
Retained Earnings	-$51.0M-11.1%	-$45.9M-16.0%	-$39.6M-7.2%	-$36.9M-9.2%	-$33.8M-21.9%	-$27.7M

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
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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

INDO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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
Capital Expenditures	$45K	N/A	N/A	$2K-99.5%	$312K	N/A
Free Cash Flow	-$5.5M	N/A	N/A	-$3.2M+16.8%	-$3.9M	N/A
Investing Cash Flow	-$244K+91.4%	-$2.8M-572.6%	-$419K+92.3%	-$5.4M-96.3%	-$2.8M-672.3%	-$357K
Financing Cash Flow	$6.6M-21.9%	$8.4M	N/A	$12.9M	N/A	-$1.1M
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	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-227.5%-5.1pp	-222.4%-123.3pp	-99.2%+13.1pp	-112.2%+136.6pp	-248.8%+118.2pp	-367.0%
Net Margin	-253.2%-15.6pp	-237.6%-162.7pp	-75.0%-0.2pp	-74.8%+173.3pp	-248.0%+102.9pp	-351.0%
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%
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%
Current Ratio	5.13+2.0	3.18-0.6	3.77-2.7	6.47+5.2	1.25-4.9	6.15
Debt-to-Equity	0.16-0.0	0.200.0	0.21+0.0	0.19+0.1	0.13+0.0	0.08
FCF Margin	-272.3%	N/A	N/A	-78.3%+79.1pp	-157.4%	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
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	5.13-1.2	6.36+3.2	3.18+1.3	1.91-1.9	3.77-1.4	5.19-1.3	6.47+3.8	2.71
Debt-to-Equity	0.160.0	0.15-0.1	0.20-0.1	0.34+0.1	0.21+0.0	0.190.0	0.19-0.5	0.65
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 $2.0M 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, with a net profit margin of -253.2%.

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 operating margin?

INDONESIA ENERGY CORP LTD (INDO) had an operating margin of -227.5% in fiscal year 2025, 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 -253.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

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) generated -$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) generated -$5.4M in operating cash flow during fiscal year 2025, representing cash generated from 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.

What is INDONESIA ENERGY CORP LTD's cash runway?

Based on fiscal year 2025 data, INDONESIA ENERGY CORP LTD (INDO) had $0 in cash against an annual operating cash burn of $5.4M. 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 Altman Z-Score?

INDONESIA ENERGY CORP LTD (INDO) has an Altman Z-Score of 4.83, 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) has an earnings quality ratio of 1.07x, 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 13 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.