DCII - Riding the Data Center Cycle

KBVS Update
Thursday, 16 July 2026

DCII - Riding the Data Center Cycle
(Non-Rated)

Market Leadership in a Structurally Growing Industry. DCII's estimated 25.6% share of installed data center capacity positions it to capture long-term industry growth.

Efficient, Profitable Growth. DCII delivered strong profitable growth, with FY21–FY25 revenue and net profit CAGRs of 30.7% and 39.1%, respectively

Long-Term Growth Runway.  Growth is underpinned by capacity expansion at existing campuses and the upcoming Bintan Data Center Park.

Premium multiple with thin trading Liquidity.  DCII trades at 493.7x P/E, while average daily trading value remains low at IDR479.8 mn. The stock is also on the IDX's High Shareholding Concentration (HSC) list, with a 99.96% HSC ratio.

Regards,
Atikah Tri Adriyanti - KBVS Research team