Betonjaya Manunggal Tbk (BTON) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Betonjaya Manunggal Tbk stock IDR 348, price IDR 334, upside +4.1%, quality 60 out of 100. Rating: fairly valued. Calculated from audited financials with 16 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 5, 2026.
How to read this chart
60‑month range 275.84 IDR – 518.43 IDR · fair‑value band 260.69 IDR – 434.48 IDR · the 334.00 IDR price screens below the 347.58 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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PT Betonjaya Manunggal Tbk manufactures round bar in Indonesia. Its products are primarily used in the construction of buildings, including high rise buildings and housing projects. PT Betonjaya Manunggal Tbk was founded in 1995 and is headquartered in Gresik, Indonesia.
Stock analysis
Betonjaya Manunggal Tbk (BTON) currently trades at 334.00 IDR, while our model-based Fair Value estimate is 347.58 IDR, so the stock looks roughly fairly valued today (gap 3.9%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of 568.39 IDR per share, and 14 of the 16 models we run sit above the 334.00 IDR price.
Bear case: the Asset-Based group reads lowest at 352.65 IDR, and 2 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 260.69 IDR (bear) to 434.48 IDR (bull), the price of 334.00 IDR sits inside 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 60/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Betonjaya Manunggal Tbk reported revenue of 131B IDR in FY2025 versus 113B IDR in FY2021, a compound +3.8%/yr. Reported net income was 24.4B IDR in FY2025, compounding +26.2%/yr from FY2021.
Key figures
Market cap 241B IDR (≈ $13.4M) Micro · P/E ratio 25.0 · P/S ratio 4.65 · EPS (TTM) 13.38 IDR · Net margin 18.6% · Return on equity 16.0% · Return on assets (EBIT) 1.9% (5-year average) · Operating margin 0.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at 4%, BTON screens cheaper than that median.
Fair Value models
Bear260.69 IDRFair Value 347.58 IDRBull434.48 IDR
Price 334.00 IDR · Upside +4.1%
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 (11.48 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.
Best data coverage
FCF DCF539.42 IDR700.78 IDR962.99 IDR77
Growth DCF554.05 IDR707.37 IDR939.21 IDR75
Residual Income341.28 IDR361.58 IDR396.97 IDR74
All 16 models by family
DCF Models
FCF DCF539.42 IDR700.78 IDR962.99 IDR77
Owner Earnings381.23 IDR494.80 IDR679.34 IDR72
5Y Revenue Exit329.86 IDR417.75 IDR538.54 IDR69
5Y P/E Exit445.52 IDR615.91 IDR809.65 IDR67
10Y Revenue Exit409.40 IDR496.77 IDR590.87 IDR64
10Y P/E Exit480.75 IDR619.72 IDR761.34 IDR61
Earnings-Based
Graham-Dodd230.69 IDR416.63 IDR514.16 IDR64
Multiples
P/E Multiple432.55 IDR576.73 IDR720.91 IDR63
P/S Multiple204.74 IDR272.99 IDR341.23 IDR58
P/B Multiple949.97 IDR1,267 IDR1,583 IDR55
EV/Revenue196.44 IDR278.33 IDR360.23 IDR51
Asset-Based
NCAV (Graham)232.75 IDR352.65 IDR440.81 IDR52
Growth DCF
Growth DCF554.05 IDR707.37 IDR939.21 IDR75
Rev-Margin DCF329.86 IDR429.41 IDR554.57 IDR69
Economic Profit
Residual Income341.28 IDR361.58 IDR396.97 IDR74
Growth Earnings
Growth-Adj P/E308.53 IDR440.76 IDR572.99 IDR65
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+2.3%
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.
−4.9%
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.
+2.9%
Start year 2020 (pandemic). Over 10 years: +6.8% a year
Revenue growth 13 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.
−1.3%
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What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+40.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+40.3%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 40.3% / 13.4%
Profit margin 2020 to 2025 ⓘ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.0% → −1%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
Compare Betonjaya Manunggal Tbk with another stock
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.Steel · 410 stocks
Beats the industry median on 6/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+4.1% · Above median
Profitability
Return on equity (12 months)16.0% · Top 25%
Return on assets5.5% · Top 25%
Net margin (12 months)34.9% · Top 25%
Operating margin (12 months)0.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)24.0% · Top 25%
Valuation Multiplesvs Steel median · lower = cheaper
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Is Betonjaya Manunggal Tbk (BTON) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 347.58 IDR versus a price of 334.00 IDR, about +4% upside (fairly valued).
What is the fair value of BTON?
Our model-based fair value for Betonjaya Manunggal Tbk is 347.58 IDR (as of Nov 5, 2026), built from audited fundamentals. The current price: 334.00 IDR.
What is the quality score of BTON?
Betonjaya Manunggal Tbk has a Quality Score of 60/100. 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 Betonjaya Manunggal Tbk (BTON)?
Our model-based price target is the fair value of 347.58 IDR (as of Nov 5, 2026) from 16 valuation models. Cautious scenario 260.69 IDR, optimistic scenario 434.48 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Betonjaya Manunggal Tbk stock forecast for 2026?
Our models put fair value at 347.58 IDR, about +4% upside versus a price of 334.00 IDR (fairly valued). Cautious scenario 260.69 IDR, optimistic scenario 434.48 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Betonjaya Manunggal Tbk (BTON)?
Betonjaya Manunggal Tbk reported trailing-twelve-month revenue of about 141B IDR (latest available figure, as of Nov 5, 2026).
What growth is priced into Betonjaya Manunggal Tbk (BTON)?
For today's price to be fair in a discounted-cash-flow model, Betonjaya Manunggal Tbk would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.9 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of BTON use?
Our models discount Betonjaya Manunggal Tbk at 10.5 %: a base by market capitalisation (nano), damped by beta 0.20, 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 Betonjaya Manunggal Tbk that is less than minus 40 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Betonjaya Manunggal Tbk (BTON) delivered so far?
Over the past 5 years revenue at Betonjaya Manunggal Tbk grew +2.9 % a year. The price currently implies free-cash-flow growth of less than minus 40 % 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 Betonjaya Manunggal Tbk (BTON) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Betonjaya Manunggal Tbk (less than minus 40 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Betonjaya Manunggal Tbk (BTON)?
The free-cash-flow yield on the price is 9.97 %: that much free cash flow Betonjaya Manunggal Tbk produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Betonjaya Manunggal Tbk (BTON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Betonjaya Manunggal Tbk it is 347.58 IDR per share (as of Nov 5, 2026), against a price of 334.00 IDR. It is the blended result of 16 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Betonjaya Manunggal Tbk stock overvalued or undervalued in 2026?
As of Nov 5, 2026, BTON trades below its calculated fair value: price 334.00 IDR, fair value 347.58 IDR, a gap of about +4% (fairly valued). 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 BTON?
No. The price is what the market pays today (334.00 IDR); the fair value is what the company's own numbers justify (347.58 IDR). For Betonjaya Manunggal Tbk the two are 13.58 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Betonjaya Manunggal Tbk worth?
The market values Betonjaya Manunggal Tbk at about 241B IDR (market capitalisation, as of Nov 5, 2026). Per share that is 334.00 IDR; our models calculate a fair value of 347.58 IDR per share.
What do the bullish and bearish scenarios say about BTON?
Our models span a range for Betonjaya Manunggal Tbk: cautious scenario 260.69 IDR, base 347.58 IDR, optimistic 434.48 IDR per share (as of Nov 5, 2026, price 334.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BTON?
Betonjaya Manunggal Tbk trades at a price-to-earnings ratio of 25.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 347.58 IDR is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 11.0.
How solid is the balance sheet of Betonjaya Manunggal Tbk (BTON)?
Balance-sheet figures for Betonjaya Manunggal Tbk (as of Nov 5, 2026): return on equity 16.0%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is BTON from its 52-week high?
Betonjaya Manunggal Tbk trades at 334.00 IDR, about 20% below its 52-week high of 418.00 IDR and 6% above the low of 314.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 347.58 IDR is for.
Which stocks are comparable to Betonjaya Manunggal Tbk?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Betonjaya Manunggal Tbk stock attractive at the current price?
The data as of Nov 5, 2026: price 334.00 IDR, calculated fair value 347.58 IDR (+4%), Quality Score 60/100, from 16 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 BTON calculated?
We run Betonjaya Manunggal Tbk through 16 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 347.58 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. Betonjaya Manunggal Tbk currently trades 4% below its own fair value, and the market average says nothing about that. 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 Betonjaya Manunggal Tbk (BTON)?
The closing price on Nov 6, 2026 was 334.00 IDR. Our model-based fair value is 347.58 IDR, about +4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Betonjaya Manunggal Tbk right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Betonjaya Manunggal Tbk
How large is the market capitalisation of Betonjaya Manunggal Tbk (BTON)?
The market capitalisation of Betonjaya Manunggal Tbk is 241B IDR (≈ $13.4M). 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 is the P/S ratio of Betonjaya Manunggal Tbk (BTON)?
The price-to-sales ratio of Betonjaya Manunggal Tbk is 4.65 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Betonjaya Manunggal Tbk (BTON)?
Earnings per share at Betonjaya Manunggal Tbk are 13.38 IDR (price ÷ EPS = P/E 25.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Betonjaya Manunggal Tbk (BTON)?
The net margin of Betonjaya Manunggal Tbk is 18.6% (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 Betonjaya Manunggal Tbk (BTON)?
The return on equity (ROE) of Betonjaya Manunggal Tbk is 16.0% (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 Betonjaya Manunggal Tbk (BTON)?
On an EBIT basis the return on assets of Betonjaya Manunggal Tbk is 1.9% (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 Betonjaya Manunggal Tbk (BTON)?
The operating margin of Betonjaya Manunggal Tbk is 0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Betonjaya Manunggal Tbk (BTON)?
Revenue at Betonjaya Manunggal Tbk is growing +24.0% versus a year earlier (3y avg −4.9%). 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 Betonjaya Manunggal Tbk (BTON)?
Earnings per share at Betonjaya Manunggal Tbk are growing −30.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Betonjaya Manunggal Tbk (BTON) hold?
Betonjaya Manunggal Tbk holds more cash than debt, 3.9B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 5, 2026