[%lEmR%] 

- Investing stock that the products we use daily (Inspired by peter lynch book?)
- Impregnatable fortress with moat
- Great variety of products with good brand names
- excellent GCG
- Buy and hold forever 

these are words that I heard about [%ymxC%] 8 years ago when stock traded at IDR11k (the peak of the stock price). After 2017? everything went from good to mediocre to bad to worse to worst. 
What happened? 1) Competition went crazy, especially from local brands. 2) Chinese brands especially in ice cream industry also hit UNVR's ice cream business. 3) Boycott. 4) Lack of product innovation.

- Revenue? Declined from IDT41tn in 2017 to IDR35tn in 2024.
- EPS? Tumbled from IDR184 in 2017 to IDR88 in 2024. (-52%)
- Multiple PE contracted from 61x in 2017 to 21x in 2024.

Result: UNVR Stock price went from IDR11180 in 2017 to IDR1885 in 2024 (-83%)

Lesson learned? there are no buy-and-hold stock forever at least in Indonesia, every company has threat from competition, regulation, market behavior change, tech disruption, etc. Some companies can adapt, survive and thrive like [%ifYH%] , others just simply dying slowly or quickly.

$UNVR 

- Investing stock that the products we use daily (Inspired by peter lynch book?)
- Impregnatable fortress with moat
- Great variety of products with good brand names
- excellent GCG
- Buy and hold forever 

these are words that I heard about $UNVR 8 years ago when stock traded at IDR11k (the peak of the stock price). After 2017? everything went from good to mediocre to bad to worse to worst. 
What happened? 1) Competition went crazy, especially from local brands. 2) Chinese brands especially in ice cream industry also hit UNVR's ice cream business. 3) Boycott. 4) Lack of product innovation.

- Revenue? Declined from IDT41tn in 2017 to IDR35tn in 2024.
- EPS? Tumbled from IDR184 in 2017 to IDR88 in 2024. (-52%)
- Multiple PE contracted from 61x in 2017 to 21x in 2024.

Result: UNVR Stock price went from IDR11180 in 2017 to IDR1885 in 2024 (-83%)

Lesson learned? there are no buy-and-hold stock forever at least in Indonesia, every company has threat from competition, regulation, market behavior change, tech disruption, etc. Some companies can adapt, survive and thrive like $BIRD , others just simply dying slowly or quickly.