Indo Kordsa Tbk (BRAM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Indo Kordsa Tbk stock IDR 1,068, price IDR 4,310, that is 75.2% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 3,626 IDR – 10,227 IDR · fair‑value band 992.79 IDR – 1,143 IDR · the 4,310 IDR price screens above the 1,068 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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PT Indo Kordsa Tbk engages in the manufacture, marketing, and sale of tire cord fabrics, yarn filaments, nylon tire cord, and raw materials of polyester. The company operates through Tire Cord Fabric, Nylon Yarn, and Polyester Yarn segments. It also offers nylon, polyester, and rayon fibers.
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The company sells its products in Indonesia, Thailand, the United States, Japan, South Korea, Brazil, Turkey, India, China, and internationally. The company was formerly known as PT Branta Mulia Tbk and changed its name to PT Indo Kordsa Tbk in 2006.
The company was founded in 1981 and is headquartered in Bogor, Indonesia. PT Indo Kordsa Tbk is a subsidiary of Kordsa Teknik Tekstil A.S.
Stock analysis
Indo Kordsa Tbk (BRAM) currently trades at 4,310 IDR, while our model-based Fair Value estimate is 1,068 IDR, 75% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5,543 IDR per share, and 5 of the 13 models we run sit above the 4,310 IDR price.
Bear case: the Earnings-Based group reads lowest at 928.86 IDR, and 8 of the 13 models stay below the price. Data coverage for this calculation is low.
Scenario range: 992.79 IDR (bear) to 1,143 IDR (bull), the price of 4,310 IDR sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Indo Kordsa Tbk reported revenue of $123M in FY2025 versus $260M in FY2021, a compound −17.1%/yr. Reported net income was −$2.3M in FY2025.
Key figures
Market cap 1.9T IDR (≈ $108M) Micro · P/E ratio 19.4 · EPS (TTM) 222.26 IDR · Dividend yield 0.0% · Net margin −1.9% · Return on equity 3.4% · Return on assets (EBIT) 8.7% (5-year average) · Operating margin 8.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −8% fair-value upside, at −75%, BRAM screens richer than that median.
Fair Value models
Bear992.79 IDRFair Value 1,068 IDRBull1,143 IDR
Price 4,310 IDR · Downside -75.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (190.59 IDR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.37/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−46.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−28.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.1%
Start year 2020 (pandemic). Over 10 years: −5.1% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−30.8%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2.4% (2020) → 0.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−6.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −8.9% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Textile Manufacturing · 338 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−75.2% · Bottom 25%
Profitability
Return on equity (12 months)3.4% · Below median
Return on assets−0.9% · Bottom 25%
Net margin (12 months)4.1% · Above median
Operating margin (12 months)8.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)133.8% · Top 25%
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
P/E (12 months)19.4× · Pricier than median
P/B0.51× · Cheapest 25%
P/S (12 months)0.74× · Cheaper than median
Price / free cash flow (fiscal year)7.2× · Cheaper than median
EV/EBITDA6.1× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 10
FUTURE (revenue growth)100· sector 37
PAST (return on equity)13· sector 18
HEALTH (low debt)100· sector 95
DIVIDEND (yield)0· sector 37
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Indo Kordsa Tbk (BRAM) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 1,068 IDR versus a price of 4,310 IDR, about 75% lower (overvalued).
What is the fair value of BRAM?
Our model-based fair value for Indo Kordsa Tbk is 1,068 IDR (as of Nov 8, 2026), built from audited fundamentals. The current price: 4,310 IDR.
What is the quality score of BRAM?
Indo Kordsa Tbk has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Indo Kordsa Tbk (BRAM)?
Our model-based price target is the fair value of 1,068 IDR (as of Nov 8, 2026) from 13 valuation models. Cautious scenario 992.79 IDR, optimistic scenario 1,143 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Indo Kordsa Tbk stock forecast for 2026?
Our models put fair value at 1,068 IDR, about 75% lower versus a price of 4,310 IDR (overvalued). Cautious scenario 992.79 IDR, optimistic scenario 1,143 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Indo Kordsa Tbk (BRAM)?
Indo Kordsa Tbk reported trailing-twelve-month revenue of about $146M (latest available figure, as of Nov 8, 2026).
Does Indo Kordsa Tbk pay a dividend?
Indo Kordsa Tbk currently shows a dividend yield of 0.00% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Indo Kordsa Tbk (BRAM) and when is the ex-dividend date?
Indo Kordsa Tbk pays a dividend of 0.012 IDR per share a year, a dividend yield of 0.0%. The last ex-dividend date was Jun 15, 2026. Free cash flow covers the dividend 1.34 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What growth is priced into Indo Kordsa Tbk (BRAM)?
For today's price to be fair in a discounted-cash-flow model, Indo Kordsa Tbk would have to grow free cash flow by -6.7 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of BRAM use?
Our models discount Indo Kordsa Tbk at 13.5 %: a base by market capitalisation (micro), damped by beta 0.02, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Indo Kordsa Tbk that is -6.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has Indo Kordsa Tbk (BRAM) delivered so far?
Over the past 5 years revenue at Indo Kordsa Tbk grew -6.1 % a year. The price currently implies free-cash-flow growth of -6.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Indo Kordsa Tbk (BRAM) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Indo Kordsa Tbk (-6.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Indo Kordsa Tbk (BRAM)?
The free-cash-flow yield on the price is 13.91 %: that much free cash flow Indo Kordsa Tbk produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Indo Kordsa Tbk (BRAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indo Kordsa Tbk it is 1,068 IDR per share (as of Nov 8, 2026), against a price of 4,310 IDR. It is the blended result of 13 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Indo Kordsa Tbk stock overvalued or undervalued in 2026?
As of Nov 8, 2026, BRAM trades above its calculated fair value: price 4,310 IDR, fair value 1,068 IDR, a gap of about −75% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BRAM?
No. The price is what the market pays today (4,310 IDR); the fair value is what the company's own numbers justify (1,068 IDR). For Indo Kordsa Tbk the two are 3,242 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Indo Kordsa Tbk worth?
The market values Indo Kordsa Tbk at about 1.9T IDR (market capitalisation, as of Nov 8, 2026). Per share that is 4,310 IDR; our models calculate a fair value of 1,068 IDR per share.
What do the bullish and bearish scenarios say about BRAM?
Our models span a range for Indo Kordsa Tbk: cautious scenario 992.79 IDR, base 1,068 IDR, optimistic 1,143 IDR per share (as of Nov 8, 2026, price 4,310 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BRAM?
Indo Kordsa Tbk trades at a price-to-earnings ratio of 19.4 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,068 IDR is built from several models across several years. Other multiples: P/B 0.5, P/S 0.7, EV/EBITDA 6.1.
How solid is the balance sheet of Indo Kordsa Tbk (BRAM)?
Balance-sheet figures for Indo Kordsa Tbk (as of Nov 8, 2026): return on equity 3.4%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is BRAM from its 52-week high?
Indo Kordsa Tbk trades at 4,310 IDR, about 13% below its 52-week high of 4,930 IDR and 6% above the low of 4,050 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,068 IDR is for.
Which stocks are comparable to Indo Kordsa Tbk?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Indo Kordsa Tbk stock attractive at the current price?
The data as of Nov 8, 2026: price 4,310 IDR, calculated fair value 1,068 IDR (−75%), Quality Score 49/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BRAM calculated?
We run Indo Kordsa Tbk through 13 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 1,068 IDR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Indo Kordsa Tbk itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Indo Kordsa Tbk (BRAM)?
The closing price on Nov 6, 2026 was 4,310 IDR. Our model-based fair value is 1,068 IDR, about 75% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indo Kordsa Tbk right now?
The price sits above even our optimistic bull case (1,143 IDR). The favourable scenario is already priced in. Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Indo Kordsa Tbk (BRAM) come from?
Earnings per share at Indo Kordsa Tbk grew −0.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.5 %, EBIT margin −3.8 %, tax rate −0.2 %, residual (interest, one-offs) +1.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Indo Kordsa Tbk
How large is the market capitalisation of Indo Kordsa Tbk (BRAM)?
The market capitalisation of Indo Kordsa Tbk is 1.9T IDR (≈ $108M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Indo Kordsa Tbk (BRAM)?
Earnings per share at Indo Kordsa Tbk are 222.26 IDR (price ÷ EPS = P/E 19.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Indo Kordsa Tbk (BRAM)?
The dividend yield of Indo Kordsa Tbk is 0.0% (payout 0.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Indo Kordsa Tbk (BRAM)?
The net margin of Indo Kordsa Tbk is −1.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Indo Kordsa Tbk (BRAM)?
The return on equity (ROE) of Indo Kordsa Tbk is 3.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Indo Kordsa Tbk (BRAM)?
On an EBIT basis the return on assets of Indo Kordsa Tbk is 8.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Indo Kordsa Tbk (BRAM)?
The operating margin of Indo Kordsa Tbk is 8.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indo Kordsa Tbk (BRAM)?
Revenue at Indo Kordsa Tbk is growing +134% versus a year earlier (3y avg −28.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Indo Kordsa Tbk (BRAM)?
Earnings per share at Indo Kordsa Tbk are growing +127% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Indo Kordsa Tbk (BRAM) hold?
Indo Kordsa Tbk holds more cash than debt, $19.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 8, 2026