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SharpFokus Brief – Monday, April 21, 2025

Does Sales Growth Mean Good Returns?

Not necessarily.

We reviewed the top ten companies in our coverage with the fastest sales growth. The results were clear:
• Only five of them generate positive cashflow returns (CFROA)
• Only two deliver a return above the risk-free rate (10-year bond yield after tax)

In contrast, the companies producing the highest CFROA—those generating the most shareholder-ready cash—don’t necessarily grow fast.

Of the top 10 CFROA performers, just one also appears on the top sales growth list.
Only two have double-digit sales growth.
And three of the top five have slightly negative sales growth.

So who’s turning cash into value, not just chasing revenue?

Here are the top 5 CFROA companies based on December data--in reverse order:
5. ADRO.jk
6. GEMS.jk
7. BSIM.jk
8. MLBI.jk
9. AMOR.jk

These are the names putting real money back in shareholders’ hands.

See the full rankings and research—updated daily.
Subscribe now at:
sharpfokus.com/subscription
  • HTUFS
  • 7Steps
  • Home
  • Jobs
  • Introduction to Sharpfokus Course
  • Sharpfokus-lessons-access
  • Sharpfokus-full-access
  • Lesson1-cashflow-profit
  • Lesson2-negative-cashflow
  • Lesson3-free-cashflow
  • Lesson4-cashflow-equity
  • Lesson5-CFROA
  • Lesson6-market-value
  • Example1-cashflow-profit
  • Example2-negative-cashflow
  • Example3-free-cashflow
  • Example4-cashflow-equity
  • Example5-CFROA
  • example6-market-value
  • Sharpfokus-premium-March2025
  • Sharpfokus100
  • Sharpfokus Premium Upgrade
  • Subscribe to Sharpfokus
  • Returns v sales
  • March imports steady
  • Market catch up
  • Credo Foundation Indonesia
  • Sharpfokus, career advice?
  • Holiday mood, cashflow reality
  • TOP100
  • Pasar Trainer
  • App
  • Car sales, Jump Start?
  • BSSR still strong beneath the surface
  • Can CashFlow predict palm oil prices?
  • CASS still flying high
  • RATU Royal cash, questionable crown
  • Cash ain’t king
  • JPFA laying larger eggs
  • ESSA flame dims
  • Notes for UI speech