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Analisis FUTR: Fundamental Kuat dan Target EBT di 2026

Analisis FUTR: Fundamental Kuat dan Target EBT di 2026

PT Futura Energi Global Tbk (FUTR) menunjukkan fundamental keuangan yang solid hingga akhir 2025, dengan laba bersih 9M25 mencapai Rp3,7 miliar, melonjak 444% YoY meski pendapatan turun 46,6% menjadi Rp33,9 miliar. Perusahaan ini berfokus pada energi baru terbarukan (EBT) seperti mini hidro dan panas bumi, didukung rasio utang rendah (Debt/Equity 0,09) serta EBITDA Rp10,5 miliar.

Kinerja Keuangan Terkini

(Foto Saham FUTR dari Google Finansial)

Pendapatan FUTR turun akibat transisi bisnis dari sektor sebelumnya, tetapi margin bruto membaik menjadi Rp11,8 miliar berkat pengendalian biaya pokok. Laba operasional naik ke Rp3,6 miliar, dengan ROE 1,69% dan EV/EBITDA tinggi menandakan valuasi premium di sektor EBT. Total aset bertumbuh ke Rp240 miliar per September 2025.

Target EBT 2026

FUTR menargetkan operasional proyek panas bumi Gunung Slamet mulai 2026, sejalan kebijakan pemerintah soal target 23% EBT di bauran energi nasional. Ekspansi ini berpotensi dorong pendapatan dua digit, dengan tambahan kapasitas mini hidro dan geothermal. Dukungan regulasi RUEN memperkuat prospek kompetitif melawan emiten seperti PGEO dan BREN.

Valuasi dan Risiko

Saham FUTR undervalued relatif kinerja, dengan PER rendah pasca-kenaikan harga 820% sejak 2025, tapi volatilitas tinggi akibat skala kecil. Risiko utama meliputi fluktuasi komoditas energi dan keterlambatan proyek, meski neraca kuat mitigasi hal itu. Investor disarankan pantau laporan Q1 2026 untuk validasi target.

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