Kalbe Farma launches IDR 500 billion buyback while Kiwoom targets Kalbe Farma stock

Published on 10/15/2026 at 10:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kalbe Farma announced an IDR 500 billion buyback on September 16, 2026. Kalbe Farma stock costs EUR 0.04 on October 15, 2026 with Kiwoom's IDR 950 target.

Buyback and earnings effects

Kalbe Farma announced an IDR 500 billion buyback on September 16, 2026.
First-half 2026 revenue reached IDR 19.48 trillion while net income was IDR 1.92 trillion.
Kalbe Farma stock traded at EUR 0.04 at 10:16 a.m. CEST at Lang & Schwarz on October 15, 2026.
Kiwoom retained a Buy rating with an IDR 950 target on September 16, 2026.

Kalbe Farma, ID1000125107, Illustration mit AI erstellt.

Kalbe Farma (ISIN ID1000125107) was trading at EUR 0.04 at Lang & Schwarz on October 15, 2026 at 10:16 a.m. CEST. The company announced an IDR 500 billion share buyback on September 16, 2026, while Kiwoom retained a Buy rating with an IDR 950 target, according to Kontan.

Three events shape the stock

On June 30, 2026, Kalbe Farma reported second-quarter revenue of IDR 9.80 trillion and net income of IDR 890.54 billion in the latest financial statement. On September 16, 2026, the company announced a buyback of up to IDR 500 billion for the period from September 17, 2026, to December 17, 2026, according to Bisnis.com. On September 16, 2026, Kiwoom maintained its Buy recommendation and set an IDR 950 target, as Kontan reported.

What does the buyback mean for earnings?

The proposed repurchase could support per-share earnings, but the latest operating figures show a more mixed picture. For the first half of 2026, revenue rose 14.00 percent year on year to IDR 19.48 trillion, while net income fell 2.80 percent to IDR 1.92 trillion, according to Kontan. The contrast puts cost control alongside the buyback as a central earnings issue.

Management projected pro forma earnings per share of IDR 81.44 if the full repurchase were completed, compared with IDR 80.51 for the fiscal year ended December 31, 2025, according to Bisnis.com. The same disclosure said interest income could decline by IDR 8.40 billion after the program, an effect Kalbe Farma considered immaterial.

Buyback window ends December 17

The next dated corporate milestone is December 17, 2026, when the announced buyback period is scheduled to end. The plan uses internal funds and would be executed through the Indonesia Stock Exchange, according to Investortrust.id.

Stock quote stays at four cents

The valuation debate therefore combines double-digit first-half revenue growth with lower net income and a planned capital return. Kalbe Farma was trading at EUR 0.04 at Lang & Schwarz on October 15, 2026 at 10:16 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Kalbe Farma stock.