Fore Coffee Tbk (FORE) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Fore Coffee Tbk stock IDR 222, price IDR 555, that is 59.9% below the price, quality 53 out of 100. Rating: strongly overvalued. 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 6, 2026.
How to read this chart
19‑month range 252.00 IDR – 1,025 IDR · fair‑value band 158.25 IDR – 313.45 IDR · the 555.00 IDR price screens above the 222.34 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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PT Fore Kopi Indonesia Tbk operates coffee stores under the Fore Coffee brand in Indonesia and Singapore. It operates through Beverages, Foods, and Others segments. The company engages in retail trading of beverage and food through coffee stores. It also operates doughnut stores.
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The company was founded in 2018 and is headquartered in Jakarta Pusat, Indonesia. PT Fore Kopi Indonesia Tbk operates as a subsidiary of Fore Holdings Pte. Ltd.
Stock analysis
Fore Coffee Tbk (FORE) currently trades at 555.00 IDR, while our model-based Fair Value estimate is 222.34 IDR, 60% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 469.55 IDR per share, and 0 of the 24 models we run sit above the 555.00 IDR price.
Bear case: the Economic Profit group reads lowest at 101.31 IDR, and 24 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 158.25 IDR (bear) to 313.45 IDR (bull), the price of 555.00 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 53/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Fore Coffee Tbk reported revenue of 1.5T IDR in FY2025 versus 107B IDR in FY2021, a compound +93.2%/yr. Reported net income was 90.1B IDR in FY2025.
Key figures
Market cap 4.9T IDR (≈ $273M) Micro · P/E ratio 41.2 · P/S ratio 2.69 · EPS (TTM) 13.46 IDR · Net margin 5.7% · Return on equity 15.3% · Return on assets (EBIT) −3.3% (5-year average) · Operating margin 11.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −30% fair-value upside, at −60%, FORE screens richer than that median.
Fair Value models
Bear158.25 IDRFair Value 222.34 IDRBull313.45 IDR
Price 555.00 IDR · Downside -59.9%
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 (11.51 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+44.1%
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.
+73.5%
’21
’22
’23
’24
’25
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.
−31.0% (2021) → 7.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
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).
+37.8%
Yearly growth needed for the next five years to justify today's price.
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 +34.3% 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.Restaurants · 199 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside−59.9% · Bottom 25%
Profitability
Return on equity (12 months)15.3% · Above median
Return on assets7.8% · Top 25%
Net margin (12 months)5.7% · Above median
Operating margin (12 months)11.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)51.2% · Top 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Restaurants median · lower = cheaper
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Is Fore Coffee Tbk (FORE) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 222.34 IDR versus a price of 555.00 IDR, about 60% lower (overvalued).
What is the fair value of FORE?
Our model-based fair value for Fore Coffee Tbk is 222.34 IDR (as of Nov 6, 2026), built from audited fundamentals. The current price: 555.00 IDR.
What is the quality score of FORE?
Fore Coffee Tbk has a Quality Score of 53/100. 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 Fore Coffee Tbk (FORE)?
Our model-based price target is the fair value of 222.34 IDR (as of Nov 6, 2026) from 24 valuation models. Cautious scenario 158.25 IDR, optimistic scenario 313.45 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Fore Coffee Tbk stock forecast for 2026?
Our models put fair value at 222.34 IDR, about 60% lower versus a price of 555.00 IDR (overvalued). Cautious scenario 158.25 IDR, optimistic scenario 313.45 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Fore Coffee Tbk (FORE)?
Fore Coffee Tbk reported trailing-twelve-month revenue of about 1.8T IDR (latest available figure, as of Nov 6, 2026).
What growth is priced into Fore Coffee Tbk (FORE)?
For today's price to be fair in a discounted-cash-flow model, Fore Coffee Tbk would have to grow free cash flow by +37.8 % per year for five years (discount rate 15.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +93.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of FORE use?
Our models discount Fore Coffee Tbk at 15.0 %: a base by market capitalisation (micro), 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 Fore Coffee Tbk that is +37.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (15.0 %) and the same formula as our fair value.
How much growth has Fore Coffee Tbk (FORE) delivered so far?
Over the past 4 years revenue at Fore Coffee Tbk grew +93.2 % a year. The price currently implies free-cash-flow growth of +37.8 % 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 Fore Coffee Tbk (FORE) growing?
The median revenue growth in the sector is +8.7 % a year. That is the yardstick for the growth priced into Fore Coffee Tbk (+37.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fore Coffee Tbk (FORE)?
The free-cash-flow yield on the price is 2.15 %: that much free cash flow Fore Coffee Tbk produces per unit of market value. When it exceeds the discount rate of our models (15.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fore Coffee Tbk (FORE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fore Coffee Tbk it is 222.34 IDR per share (as of Nov 6, 2026), against a price of 555.00 IDR. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Fore Coffee Tbk stock overvalued or undervalued in 2026?
As of Nov 6, 2026, FORE trades above its calculated fair value: price 555.00 IDR, fair value 222.34 IDR, a gap of about −60% (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 FORE?
No. The price is what the market pays today (555.00 IDR); the fair value is what the company's own numbers justify (222.34 IDR). For Fore Coffee Tbk the two are 332.66 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Fore Coffee Tbk worth?
The market values Fore Coffee Tbk at about 4.9T IDR (market capitalisation, as of Nov 6, 2026). Per share that is 555.00 IDR; our models calculate a fair value of 222.34 IDR per share.
What do the bullish and bearish scenarios say about FORE?
Our models span a range for Fore Coffee Tbk: cautious scenario 158.25 IDR, base 222.34 IDR, optimistic 313.45 IDR per share (as of Nov 6, 2026, price 555.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FORE?
Fore Coffee Tbk trades at a price-to-earnings ratio of 41.2 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 222.34 IDR is built from several models across several years. Other multiples: P/B 7.3, P/S 2.7, EV/EBITDA 18.5.
How solid is the balance sheet of Fore Coffee Tbk (FORE)?
Balance-sheet figures for Fore Coffee Tbk (as of Nov 6, 2026): return on equity 15.3%, debt of 0.01 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is FORE from its 52-week high?
Fore Coffee Tbk trades at 555.00 IDR, about 46% below its 52-week high of 1,025 IDR and 24% above the low of 448.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 222.34 IDR is for.
Which stocks are comparable to Fore Coffee Tbk?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Yum! Brands, Inc, Chipotle Mexican Grill, Inc, 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 Fore Coffee Tbk stock attractive at the current price?
The data as of Nov 6, 2026: price 555.00 IDR, calculated fair value 222.34 IDR (−60%), Quality Score 53/100, 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 FORE calculated?
We run Fore Coffee Tbk through 24 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 222.34 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 13.0% above its aggregate fair value. Fore Coffee 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 Fore Coffee Tbk (FORE)?
The closing price on Nov 6, 2026 was 555.00 IDR. Our model-based fair value is 222.34 IDR, about 60% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fore Coffee Tbk right now?
The price sits above even our optimistic bull case (313.45 IDR). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (158.25 IDR to 313.45 IDR) leaves room in how you read the outcome.
Key figures of Fore Coffee Tbk
How large is the market capitalisation of Fore Coffee Tbk (FORE)?
The market capitalisation of Fore Coffee Tbk is 4.9T IDR (≈ $273M). 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 Fore Coffee Tbk (FORE)?
The price-to-sales ratio of Fore Coffee Tbk is 2.69 (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 Fore Coffee Tbk (FORE)?
Earnings per share at Fore Coffee Tbk are 13.46 IDR (price ÷ EPS = P/E 41.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fore Coffee Tbk (FORE)?
The net margin of Fore Coffee Tbk is 5.7% (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 Fore Coffee Tbk (FORE)?
The return on equity (ROE) of Fore Coffee Tbk is 15.3% (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 Fore Coffee Tbk (FORE)?
On an EBIT basis the return on assets of Fore Coffee Tbk is −3.3% (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 Fore Coffee Tbk (FORE)?
The operating margin of Fore Coffee Tbk is 11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fore Coffee Tbk (FORE)?
Revenue at Fore Coffee Tbk is growing +51.2% versus a year earlier (3y avg +73.5%). 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 Fore Coffee Tbk (FORE)?
Earnings per share at Fore Coffee Tbk are growing +17.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Fore Coffee Tbk (FORE) hold?
Fore Coffee Tbk holds more cash than debt, 109B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 6, 2026