Delta Djakarta Tbk (DLTA) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Delta Djakarta Tbk stock IDR 3,192, price IDR 1,670, upside +91.2%, quality 83 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 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 9, 2026.
How to read this chart
60‑month range 1,606 IDR – 2,982 IDR · fair‑value band 2,764 IDR – 3,937 IDR · the 1,670 IDR price screens below the 3,192 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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PT Delta Djakarta Tbk engages in the beverage business in Indonesia. The company offers beers, lagers, and stouts.
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It sells its products under the Anker Beer, Anker Stout, Anker Lychee, Anker Pineapple, Carlsberg, San Miguel Pale Pilsen, San Mig Light, San Miguel Cerveza Blanca, San Miguel Cerveza Negra, Kuda Putih, and Batavia brands. The company also exports its products.
PT Delta Djakarta Tbk was founded in 1932 and is headquartered in Bekasi, Indonesia. PT Delta Djakarta Tbk is a subsidiary of San Miguel Malaysia (L) Private Limited.
Stock analysis
Delta Djakarta Tbk (DLTA) currently trades at 1,670 IDR, while our model-based Fair Value estimate is 3,192 IDR, implying the stock looks roughly 48% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 3,451 IDR per share, and 18 of the 24 models we run sit above the 1,670 IDR price.
Bear case: the Asset-Based group reads lowest at 638.07 IDR, and 6 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2,764 IDR (bear) to 3,937 IDR (bull), the price of 1,670 IDR sits below 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 83/100 (high quality), in the Consumer Defensive sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Delta Djakarta Tbk reported revenue of 675B IDR in FY2025 versus 681B IDR in FY2021, a compound −0.2%/yr. Reported net income was 150B IDR in FY2025, compounding −5.5%/yr from FY2021.
Key figures
Market cap 1.3T IDR (≈ $74.3M) Micro · P/E ratio 9.2 · P/S ratio 1.89 · EPS (TTM) 182.00 IDR · Dividend yield 10.8% · Net margin 20.6% · Return on equity 20.3% · Return on assets (EBIT) 16.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 77 out of 100 (medium confidence).
What moves the price
The share trades about 12% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 19% fair-value upside, at 91%, DLTA screens cheaper than that median.
Fair Value models
Bear2,764 IDRFair Value 3,192 IDRBull3,937 IDR
Price 1,670 IDR · Upside +91.2%
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 (0.8575 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.3%
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.
−4.7%
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.
+4.3%
Start year 2020 (pandemic). Over 10 years: −0.4% 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.
+3.9%
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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.
+6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.4%
Dividend (yield on the price)10.8%
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.−4.4% vs −5.1%, steady
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.25% → 25%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 2.5%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than 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).
−19.7%
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 (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −21.8% 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.Beverages - Brewers · 55 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score83 · Top 25%
Fair Value upside+89.5% · Top 25%
Profitability
Return on equity (12 months)20.3% · Top 25%
Return on assets13.3% · Top 25%
Net margin (12 months)20.6% · Top 25%
Operating margin (12 months)14.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)18.0% · Top 25%
Dividend yield (12 months)10.8% · Top 25%
Balance sheet
Debt / equity0.07× · Above median
Valuation Multiplesvs Beverages - Brewers median · lower = cheaper
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Is Delta Djakarta Tbk (DLTA) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 3,192 IDR versus a price of 1,670 IDR, about +91% upside (undervalued).
What is the fair value of DLTA?
Our model-based fair value for Delta Djakarta Tbk is 3,192 IDR (as of Nov 9, 2026), built from audited fundamentals. The current price: 1,670 IDR.
What is the quality score of DLTA?
Delta Djakarta Tbk has a Quality Score of 83/100. 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 Delta Djakarta Tbk (DLTA)?
Our model-based price target is the fair value of 3,192 IDR (as of Nov 9, 2026) from 24 valuation models. Cautious scenario 2,764 IDR, optimistic scenario 3,937 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Delta Djakarta Tbk stock forecast for 2026?
Our models put fair value at 3,192 IDR, about +91% upside versus a price of 1,670 IDR (undervalued). Cautious scenario 2,764 IDR, optimistic scenario 3,937 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Delta Djakarta Tbk (DLTA)?
Delta Djakarta Tbk reported trailing-twelve-month revenue of about 715B IDR (latest available figure, as of Nov 9, 2026).
Does Delta Djakarta Tbk pay a dividend?
Delta Djakarta Tbk currently shows a dividend yield of 10.84% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Delta Djakarta Tbk (DLTA) and when is the ex-dividend date?
Delta Djakarta Tbk pays a dividend of 181.00 IDR per share a year, a dividend yield of 10.8%. The last ex-dividend date was Jul 6, 2026. A dividend has been paid every year since at least 2002. The payout ratio is 99.5% of earnings. Free cash flow covers the dividend 1.55 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Delta Djakarta Tbk (DLTA)?
For today's price to be fair in a discounted-cash-flow model, Delta Djakarta Tbk would have to grow free cash flow by -19.7 % 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 +4.3 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of DLTA use?
Our models discount Delta Djakarta Tbk at 13.5 %: a base by market capitalisation (micro), damped by beta 0.15, 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 Delta Djakarta Tbk that is -19.7 % 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 Delta Djakarta Tbk (DLTA) delivered so far?
Over the past 5 years revenue at Delta Djakarta Tbk grew +4.3 % a year. The price currently implies free-cash-flow growth of -19.7 % 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 Delta Djakarta Tbk (DLTA) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Delta Djakarta Tbk (-19.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Delta Djakarta Tbk (DLTA)?
The free-cash-flow yield on the price is 16.80 %: that much free cash flow Delta Djakarta 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 Delta Djakarta Tbk (DLTA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Delta Djakarta Tbk it is 3,192 IDR per share (as of Nov 9, 2026), against a price of 1,670 IDR. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Delta Djakarta Tbk stock overvalued or undervalued in 2026?
As of Nov 9, 2026, DLTA trades below its calculated fair value: price 1,670 IDR, fair value 3,192 IDR, a gap of about +91% (undervalued). 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 DLTA?
No. The price is what the market pays today (1,670 IDR); the fair value is what the company's own numbers justify (3,192 IDR). For Delta Djakarta Tbk the two are 1,522 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Delta Djakarta Tbk worth?
The market values Delta Djakarta Tbk at about 1.3T IDR (market capitalisation, as of Nov 9, 2026). Per share that is 1,670 IDR; our models calculate a fair value of 3,192 IDR per share.
What do the bullish and bearish scenarios say about DLTA?
Our models span a range for Delta Djakarta Tbk: cautious scenario 2,764 IDR, base 3,192 IDR, optimistic 3,937 IDR per share (as of Nov 9, 2026, price 1,670 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DLTA?
Delta Djakarta Tbk trades at a price-to-earnings ratio of 9.2 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3,192 IDR is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 13.8. Other multiples: P/B 1.8, P/S 1.9, EV/EBITDA 3.8.
How solid is the balance sheet of Delta Djakarta Tbk (DLTA)?
Balance-sheet figures for Delta Djakarta Tbk (as of Nov 9, 2026): return on equity 20.3%, debt of 0.07 per unit of equity. They feed the Quality Score of 83/100, which measures business quality independently of the share price.
How far is DLTA from its 52-week high?
Delta Djakarta Tbk trades at 1,670 IDR, about 12% below its 52-week high of 1,900 IDR and 2% above the low of 1,640 IDR (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 3,192 IDR is for.
Which stocks are comparable to Delta Djakarta Tbk?
From the same area (Consumer Defensive) we also value Anheuser-Busch InBev SA, Heineken N.V, Constellation Brands, Inc, Heineken Holding, 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 Delta Djakarta Tbk stock attractive at the current price?
The data as of Nov 9, 2026: price 1,670 IDR, calculated fair value 3,192 IDR (+91%), Quality Score 83/100, from 24 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 DLTA calculated?
We run Delta Djakarta Tbk through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 3,192 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. Delta Djakarta Tbk currently trades 48% 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 Delta Djakarta Tbk (DLTA)?
The closing price on Nov 9, 2026 was 1,670 IDR. Our model-based fair value is 3,192 IDR, about +91% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Delta Djakarta Tbk right now?
The rarer combination: high quality (83/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (2,764 IDR). The market is more pessimistic than our downside scenario. 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 Delta Djakarta Tbk (DLTA) come from?
Earnings per share at Delta Djakarta Tbk grew −4.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share −1.5 %, EBIT margin −3.8 %, tax rate +0.4 %, residual (interest, one-offs) +0.6 %. 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 Delta Djakarta Tbk
How large is the market capitalisation of Delta Djakarta Tbk (DLTA)?
The market capitalisation of Delta Djakarta Tbk is 1.3T IDR (≈ $74.3M). 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 Delta Djakarta Tbk (DLTA)?
The price-to-sales ratio of Delta Djakarta Tbk is 1.89 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Delta Djakarta Tbk (DLTA)?
Earnings per share at Delta Djakarta Tbk are 182.00 IDR (price ÷ EPS = P/E 9.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Delta Djakarta Tbk (DLTA)?
The dividend yield of Delta Djakarta Tbk is 10.8% (payout 99.5%). 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 Delta Djakarta Tbk (DLTA)?
The net margin of Delta Djakarta Tbk is 20.6% (last twelve months). 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 Delta Djakarta Tbk (DLTA)?
The return on equity (ROE) of Delta Djakarta Tbk is 20.3% (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 Delta Djakarta Tbk (DLTA)?
On an EBIT basis the return on assets of Delta Djakarta Tbk is 16.9% (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 Delta Djakarta Tbk (DLTA)?
The operating margin of Delta Djakarta Tbk is 14.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Delta Djakarta Tbk (DLTA)?
Revenue at Delta Djakarta Tbk is growing +18.0% versus a year earlier (3y avg −4.7%). 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 Delta Djakarta Tbk (DLTA)?
Earnings per share at Delta Djakarta Tbk are growing −11.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Delta Djakarta Tbk (DLTA) hold?
Delta Djakarta Tbk holds more cash than debt, 639B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 9, 2026