UNTR Stock: United Tractors Profile, Business, Performance and Risks

PT United Tractors Tbk, traded under the ticker UNTR, is a subsidiary of PT Astra International Tbk operating across six business lines: heavy equipment distribution, mining contracting, coal mining, gold mining, construction, and energy. The stock has been listed on the Indonesia Stock Exchange since 1989 and is one of the country's largest heavy equipment issuers.

UNTR stock summary

As of October 24, 2026:

United Tractors' business

UNTR runs six business lines. Construction Machinery is the company's founding business, distributing heavy equipment brands including Komatsu, Tadano, Bomag, UD Trucks, and Scania, supported by 20 branch offices, 32 site support units, 6 representative offices, and 54 support points nationwide.

The Mining Contracting line operates through subsidiary PT Pamapersada Nusantara, established in 1989. The Coal Mining line is managed through PT Tuah Turangga Agung and several subsidiaries holding concessions in Central and South Kalimantan.

The Gold Mining line was formed in 2019, run by PT Agincourt Resources, acquired at 95% ownership in 2018 through PT Danusa Tambang Nusantara. This subsidiary manages a gold mine in North Sumatra.

The Construction Industry line was established in 2015 through the acquisition of a 50.1% stake in PT Acset Indonusa Tbk, with ownership later rising to 82.17% by 2021 following several corporate actions. The final line, Energy, was formed in 2017 through PT Bhumi Jati Power, which operates as an Independent Power Producer running a 2x1,000 MW coal plant in Jepara, Central Java. UNTR has also moved into renewable energy through an investment in PT Arkora Hydro Tbk and nickel exploration through its subsidiaries.

Brief history and IPO

The company was founded in 1972 as PT Inter-Astra Motor Works, renamed PT United Tractors on October 13, 1972. A year later, it became the sole distributor of Komatsu and Tadano in Indonesia, followed by Bomag in 1974 and UD Trucks in 1984.

UNTR officially listed on the Jakarta and Surabaya stock exchanges on September 19, 1989, the same year Pamapersada Nusantara was founded to enter the mining contracting business. Since then, the company has steadily expanded its portfolio through acquisitions, from coal mines in Kalimantan to a gold mine in North Sumatra in 2018.

Shareholders and management

UNTR is a subsidiary of PT Astra International Tbk, though Astra's exact ownership percentage isn't stated in the sources reviewed. On the management side, the only name mentioned in the sources is Ari Setiyawan, the company's Corporate Secretary, who represented UNTR in the disclosure regarding its interim dividend. For a full list of directors, commissioners, and detailed shareholder breakdowns, readers should check UNTR's official annual report and disclosures at idx.co.id.

Recent financial performance

Based on financial data as of June 30, 2026, which underpinned the interim dividend decision, net income attributable to the parent entity for the first half of 2026 was Rp956.28 billion. Total equity for the same period stood at Rp101.75 trillion, with unrestricted retained earnings reaching Rp82.59 trillion.

On the operational side, UNTR's coal sales volume for January-August 2026 fell 22% year-on-year compared to the same period in 2025, according to Kompas.com. Meanwhile, the company's 2026 coal production quota under its RKAB (annual mining work plan) was raised from 7.4 million tons to 12.4 million tons, opening room for higher production in the second half of 2026. For a complete picture of annual revenue and profit, including segment-level performance, readers should check UNTR's official financial statements at idx.co.id.

Dividend

UNTR declared an interim dividend of Rp430 per share for fiscal year 2026, totaling Rp1.47 trillion. The decision was based on a Circular Resolution of the Board of Directors dated September 23, 2026, and a Circular Resolution of the Board of Commissioners dated September 24, 2026, with payment scheduled for October 26, 2026.

The cum and ex dates: cum interim dividend in the regular and negotiated markets fell on October 6, 2026, with the ex date on October 7, 2026. For the cash market, the cum date was October 8, 2026, and the ex date October 9, 2026.

Notably, the interim dividend payout ratio reached 154.55% of first-half 2026 net income, well above 100%. In the disclosure, Corporate Secretary Ari Setiyawan stated that the interim dividend distribution "does not have a material impact on the company's operational activities, legal standing, financial condition, or business continuity," pointing to retained earnings far exceeding the dividend amount.

UNTR stock price movement

At the close on Friday, October 23, 2026, UNTR stood at Rp25,300, up 4.12%, making it one of the top gainers that lifted the Kompas100 index 0.86% to 702.76. This price sits below the midpoint of its 52-week range of Rp20,125-Rp32,825, indicating the stock remains well off its yearly high.

Over the past month, UNTR gained 4.8%, but it's still down 0.8% over three months and 7.3% over the past year. Average daily trading volume over the past three months stood at 4.25 million shares.

Technical analysis from BRI Danareksa Sekuritas as of late September 2026 noted that UNTR's price at the time (Rp25,175) remained below its 200-day moving average of around Rp27,061. Resistance was projected at Rp25,750, with a further target of Rp27,000-Rp27,061 if breached. Support was estimated around Rp23,900-Rp23,000, with a further support level at Rp20,900 if that zone breaks down. At the time, the MACD indicator remained in negative territory.

Recent news and catalysts

Several recent developments relevant to UNTR investors:

• October 23, 2026 (Kompas.com): UNTR rose 4.12% to Rp25,300, becoming a key driver of the Kompas100 index's 0.86% gain to 702.76, alongside Darma Henwa (DEWA) and Bukit Asam (PTBA).
• October 20, 2026 (mikirduit.com): UNTR was among 19 issuers preparing buyback programs as the IHSG plunged to around 4,900 and experienced a trading halt, amid concerns over IDX potentially being downgraded to standalone market status. UNTR allocated up to Rp2 trillion for its buyback, below BBCA's Rp5 trillion but above MBMA's Rp1.38 trillion.
• September 29, 2026 (Fortune Indonesia and Kompas.com): UNTR announced its interim dividend of Rp430 per share, coinciding with the stock jumping 3.28% to Rp25,175, driven by dividend sentiment, buyback plans, and a higher coal production quota under its RKAB.

Competitors on the IDX

A few IDX-listed companies that overlap with UNTR's business lines:

• HEXA (Hexindo Adiperkasa): the sole distributor of Hitachi heavy equipment in Indonesia, a direct competitor in UNTR's equipment distribution segment.
• INTA (Intraco Penta): a multi-brand heavy equipment distributor that also runs an equipment rental business.
• DOID (Delta Dunia Makmur): parent of PT Bukit Makmur Mandiri Utama, one of Indonesia's largest coal mining contractors, competing with UNTR's Mining Contracting line through Pamapersada Nusantara.

Risks

Several risks worth monitoring around UNTR's business and stock performance:

• Concentration in coal commodities. UNTR's coal sales volume fell 22% year-on-year for January-August 2026, highlighting the business's sensitivity to fluctuating commodity prices and demand.
• Dependence on RKAB policy. Coal production quotas are set annually by the government through the RKAB process, which can change and directly affect the company's production capacity.
• Interim dividend payout ratio above 100%. The 154.55% payout of first-half net income was supported by large retained earnings, but this pattern doesn't directly reflect current-period profitability.
• Macro market risk. UNTR shares were affected by broader IHSG turmoil that dropped the index to around 4,900 over concerns about IDX's potential downgrade to standalone market status, with foreign investors recording a net sell of Rp2.13 trillion on October 20, 2026.
• Technical position not yet solid. The price sat below its 200-day moving average with MACD in negative territory as of late September 2026, a sign that a trend recovery wasn't yet confirmed.
• Wide 52-week price range (Rp20,125-Rp32,825), indicating volatility that should be factored into any decision.

What it means for investors

A few concrete things worth tracking here, not as a basis for a buy or sell decision:

• Interim dividend payment on October 26, 2026. Investors holding shares before the cum date of October 6, 2026 (regular/negotiated market) or October 8, 2026 (cash market) are entitled to the Rp430 per share dividend.
• Progress of the Rp2 trillion buyback program that began on October 19, 2026. Since repurchases are usually carried out gradually, actual execution can be tracked through periodic IDX disclosures rather than assumed to run at full pace every day.
• Technical levels flagged by BRI Danareksa Sekuritas as of late September 2026: resistance at Rp25,750 with a further target of Rp27,000-Rp27,061, and support at Rp23,900-Rp23,000 with Rp20,900 as the next level if that breaks. These levels can shift as the price moves.
• Second-half 2026 coal production realization following the RKAB quota increase from 7.4 million to 12.4 million tons, given that sales volume for January-August 2026 was still down 22% year-on-year.
• Second-half and full-year 2026 financial results, which will show whether the net income trend improves from the first-half level of Rp956.28 billion.

How to buy UNTR stock

UNTR shares trade in lots, with 1 lot equal to 100 shares. At the last price of Rp25,300 per share, one lot of UNTR costs around Rp2,530,000, excluding brokerage fees.

To buy this stock, investors need to open a securities account with a brokerage licensed by Indonesia's Financial Services Authority (OJK) and registered as a member of the Indonesia Stock Exchange. Once the account is active and funded, buy orders for UNTR can be placed through the brokerage's trading app during market hours.

FAQ

Does UNTR pay dividends regularly?

The data we reviewed only covers an interim dividend for fiscal year 2026 of Rp430 per share, totaling Rp1.47 trillion. For prior years' dividend history, check official disclosures at idx.co.id.

How much is one lot of UNTR stock?

Based on the last price of Rp25,300 per share, one lot (100 shares) of UNTR costs Rp2,530,000.

Is UNTR part of the LQ45 index?

UNTR's LQ45 or IDX30 status isn't in the sources we checked. What is confirmed is that UNTR is part of the Kompas100 index.

What's the difference between UNTR and HEXA?

UNTR is Komatsu's sole distributor in Indonesia and runs a mining contracting business through Pamapersada Nusantara, while HEXA (Hexindo Adiperkasa) is the sole distributor of Hitachi heavy equipment.

Why did UNTR launch a buyback in October 2026?

According to mikirduit.com on October 20, 2026, UNTR is one of 19 issuers preparing buybacks worth up to Rp2 trillion as the IHSG came under pressure over concerns about IDX being downgraded to standalone market status.

What is RKAB and why does it matter for UNTR?

RKAB is Indonesia's annual mining work plan and budget that sets production quotas. Kompas.com reported on September 29, 2026 that UNTR's coal production quota rose from 7.4 million tons to 12.4 million tons for 2026.

This article is for informational purposes only and is not a recommendation to buy or sell UNTR stock.