Martina Berto Tbk (MBTO) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Martina Berto Tbk stock IDR 224, price IDR 100, upside +123.9%, quality 48 out of 100. Rating: strongly undervalued. Calculated from audited financials with 10 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 4, 2026.
How to read this chart
60‑month range 60.00 IDR – 334.00 IDR · fair‑value band 188.48 IDR – 285.07 IDR · the 100.00 IDR price screens below the 223.93 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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PT Martina Berto Tbk, together with its subsidiaries, manufactures, markets, sells, and trades in cosmetics and traditional medicines in Indonesia and internationally. It operates in two segments, Cosmetics and Herbal Medicine.
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The company offers facial cleansers, toners, moisturizers, liquid foundations, body splash colognes, hair sprays, and other liquid formulations; eye shadow, blush on, loose powder, compact powder, and other powder-based products; lipsticks, creamy foundations, and other semi-solid formulations; and masks, body scrubs, herbal teas, and mangir and other natural-based products.
It sells its products under the Sariayu Martha Tilaar, Dewi Sri Spa Martha Tilaar, Biokos Martha Tilaar, Caring Colours by Martha Tilaar, Martha Tilaar Professional Artist Cosmetics, Belia Martha Tilaar, Rudy Hadisuwarno Cosmetics, Mirabella, and Cempaka brands.
PT Martina Berto Tbk was founded in 1977 and is headquartered in Jakarta, Indonesia. PT Martina Berto Tbk operates as a subsidiary of PT Marthana Megahayu Inti.
Stock analysis
Martina Berto Tbk (MBTO) currently trades at 100.00 IDR, while our model-based Fair Value estimate is 223.93 IDR, implying the stock looks roughly 55% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 269.37 IDR per share, and 8 of the 9 models we run sit above the 100.00 IDR price.
Bear case: the Multiples group reads lowest at 31.38 IDR, and 1 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: 188.48 IDR (bear) to 285.07 IDR (bull), the price of 100.00 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 48/100 (below-average quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Martina Berto Tbk reported revenue of 402B IDR in FY2025 versus 211B IDR in FY2021, a compound +17.5%/yr. Reported net income was −27.8B IDR in FY2025.
Key figures
Market cap 107B IDR (≈ $5.9M) Micro · P/S ratio 0.26 · EPS (TTM) −120.73 IDR · Net margin −6.9% · Return on equity 0.4% · Return on assets (EBIT) −2.9% (5-year average) · Operating margin 7.2% · Revenue (TTM) 469B IDR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −26% fair-value upside, at 124%, MBTO screens cheaper than that median.
Fair Value models
Bear188.48 IDRFair Value 223.93 IDRBull285.07 IDR
Price 100.00 IDR · Upside +123.9%
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.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.52/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−7.0%
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.
+3.7%
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.
+6.2%
Start year 2020 (pandemic). Over 10 years: −5.3% a year
Revenue growth 18 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.
+1.0%
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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.
−56.0% (2020) → −1.0% (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
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).
−7.2%
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 −9.6% 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.Household & Personal Products · 230 stocks
Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Bottom 25%
Fair Value upside+123.9% · Top 25%
Profitability
Return on equity (12 months)0.4% · Below median
Return on assets−4.3% · Bottom 25%
Net margin (12 months)0.3% · Below median
Operating margin (12 months)7.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)48.1% · Top 25%
Valuation Multiplesvs Household & Personal Products median · lower = cheaper
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Is Martina Berto Tbk (MBTO) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 223.93 IDR versus a price of 100.00 IDR, about +124% upside (undervalued).
What is the fair value of MBTO?
Our model-based fair value for Martina Berto Tbk is 223.93 IDR (as of Nov 4, 2026), built from audited fundamentals. The current price: 100.00 IDR.
What is the quality score of MBTO?
Martina Berto Tbk has a Quality Score of 48/100. 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 Martina Berto Tbk (MBTO)?
Our model-based price target is the fair value of 223.93 IDR (as of Nov 4, 2026) from 10 valuation models. Cautious scenario 188.48 IDR, optimistic scenario 285.07 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Martina Berto Tbk stock forecast for 2026?
Our models put fair value at 223.93 IDR, about +124% upside versus a price of 100.00 IDR (undervalued). Cautious scenario 188.48 IDR, optimistic scenario 285.07 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Martina Berto Tbk (MBTO)?
Martina Berto Tbk reported trailing-twelve-month revenue of about 469B IDR (latest available figure, as of Nov 4, 2026).
What growth is priced into Martina Berto Tbk (MBTO)?
For today's price to be fair in a discounted-cash-flow model, Martina Berto Tbk would have to grow free cash flow by -7.2 % 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 +6.2 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of MBTO use?
Our models discount Martina Berto Tbk at 10.5 %: a base by market capitalisation (nano), damped by beta 0.34, 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 Martina Berto Tbk that is -7.2 % 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 Martina Berto Tbk (MBTO) delivered so far?
Over the past 5 years revenue at Martina Berto Tbk grew +6.2 % a year. The price currently implies free-cash-flow growth of -7.2 % 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 Martina Berto Tbk (MBTO) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Martina Berto Tbk (-7.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Martina Berto Tbk (MBTO)?
The free-cash-flow yield on the price is 13.56 %: that much free cash flow Martina Berto 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 Martina Berto Tbk (MBTO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Martina Berto Tbk it is 223.93 IDR per share (as of Nov 4, 2026), against a price of 100.00 IDR. It is the blended result of 10 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Martina Berto Tbk stock overvalued or undervalued in 2026?
As of Nov 4, 2026, MBTO trades below its calculated fair value: price 100.00 IDR, fair value 223.93 IDR, a gap of about +124% (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 MBTO?
No. The price is what the market pays today (100.00 IDR); the fair value is what the company's own numbers justify (223.93 IDR). For Martina Berto Tbk the two are 123.93 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Martina Berto Tbk worth?
The market values Martina Berto Tbk at about 107B IDR (market capitalisation, as of Nov 4, 2026). Per share that is 100.00 IDR; our models calculate a fair value of 223.93 IDR per share.
What do the bullish and bearish scenarios say about MBTO?
Our models span a range for Martina Berto Tbk: cautious scenario 188.48 IDR, base 223.93 IDR, optimistic 285.07 IDR per share (as of Nov 4, 2026, price 100.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Martina Berto Tbk (MBTO)?
Balance-sheet figures for Martina Berto Tbk (as of Nov 4, 2026): return on equity 0.4%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is MBTO from its 52-week high?
Martina Berto Tbk trades at 100.00 IDR, about 52% below its 52-week high of 208.00 IDR and 5% above the low of 95.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 223.93 IDR is for.
Which stocks are comparable to Martina Berto Tbk?
From the same area (Consumer Defensive) we also value Colgate-Palmolive Company, Hindustan Unilever Limited, The Estée Lauder Companies Inc, Henkel AG, 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 Martina Berto Tbk stock attractive at the current price?
The data as of Nov 4, 2026: price 100.00 IDR, calculated fair value 223.93 IDR (+124%), Quality Score 48/100, from 10 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 MBTO calculated?
We run Martina Berto Tbk through 10 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of 223.93 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. Martina Berto Tbk currently trades 55% 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 Martina Berto Tbk (MBTO)?
The closing price on Nov 6, 2026 was 100.00 IDR. Our model-based fair value is 223.93 IDR, about +124% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Martina Berto Tbk right now?
The large discount to fair value meets weak quality (48/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (188.48 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.
Key figures of Martina Berto Tbk
How large is the market capitalisation of Martina Berto Tbk (MBTO)?
The market capitalisation of Martina Berto Tbk is 107B IDR (≈ $5.9M). 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 Martina Berto Tbk (MBTO)?
The price-to-sales ratio of Martina Berto Tbk is 0.26 (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 Martina Berto Tbk (MBTO)?
Earnings per share at Martina Berto Tbk are −120.73 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Martina Berto Tbk (MBTO)?
The net margin of Martina Berto Tbk is −6.9% (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 Martina Berto Tbk (MBTO)?
The return on equity (ROE) of Martina Berto Tbk is 0.4% (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 Martina Berto Tbk (MBTO)?
On an EBIT basis the return on assets of Martina Berto Tbk is −2.9% (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 Martina Berto Tbk (MBTO)?
The operating margin of Martina Berto Tbk is 7.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Martina Berto Tbk (MBTO)?
Revenue at Martina Berto Tbk is growing +48.1% versus a year earlier (3y avg +3.7%). 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 Martina Berto Tbk (MBTO)?
Earnings per share at Martina Berto Tbk are growing −98.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Martina Berto Tbk (MBTO) carry?
The net debt of Martina Berto Tbk is 155B IDR (fiscal year 2025, ≈ 10.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 4, 2026