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PT Mulia Industrindo Tbk (MLIA) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of PT Mulia Industrindo Tbk stock IDR 66, price IDR 179, that is 63.1% below the price, quality 34 out of 100. Rating: strongly overvalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.

4 models, one by oneBear 43.61 IDR to bull 82.59 IDR Growth analysisrevenue history, year by year Quality 34/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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Industrials ID · ISIN ID1000060106

Thin data Nov 9, 2026

PT Mulia Industrindo Tbk

MLIA · JK

Very expensive, weak quality

Our calculation puts a fair price 63% below what the stock costs today.

Low debt

Mixed vs. peers (6/12)

Fair value 66.07 IDR · Strongly overvalued

Quality 34/100

Weak Growth (revenue 5y +1.9 %/yr in IDR)

Loss-making · -4.7% net margin (TTM)

Negative free cash flow

Narrow moat 14/100

Thin data

⚠ Thinly traded

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See 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 162.81 IDR – 608.78 IDR · fair‑value band 43.61 IDR – 82.59 IDR · the 179.00 IDR price screens above the 66.07 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.

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Company profile

PT Mulia Industrindo Tbk, together with its subsidiaries, manufactures and sells glass in Indonesia, Asia, Australia, Europe, Africa, and the United States. It operates through Float Glass, Safety Glass, Glass Containers and Glass Block segments.

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The company offers plain and colored float glass; mugs and cups, as well as transparent and colored container glass used for packaging of food, beverages, and beer; glass blocks; and automotive safety glasses for front/rear door right/left door, rear quarter left/right, back door window, and windshield.

It sells its products to distributors and glass processors. PT Mulia Industrindo Tbk was founded in 1968 and is headquartered in Jakarta Selatan, Indonesia.

Stock analysis

PT Mulia Industrindo Tbk (MLIA) currently trades at 179.00 IDR, while our model-based Fair Value estimate is 66.07 IDR, 63% below the price, so the stock looks overvalued today.

Valuation

Bull case: the Multiples group reads highest at a median of 619.77 IDR per share, and 1 of the 4 models we run sit above the 179.00 IDR price.

Bear case: the Earnings-Based group reads lowest at 18.14 IDR, and 3 of the 4 models stay below the price. Data coverage for this calculation is low.

Scenario range: 43.61 IDR (bear) to 82.59 IDR (bull), the price of 179.00 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 34/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

PT Mulia Industrindo Tbk reported revenue of 4.1T IDR in FY2025 versus 4.5T IDR in FY2021, a compound −2.0%/yr. Reported net income was −4.5B IDR in FY2025.

Key figures

Market cap 1.2T IDR (≈ $65.8M) Micro · P/S ratio 0.31 · EPS (TTM) −29.08 IDR · Dividend yield 3.6% · Net margin −4.7% · Return on equity −3.6% · Return on assets (EBIT) 10.2% (5-year average) · Operating margin −12.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (medium confidence).

What moves the price

The share trades about 49% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −63%, MLIA screens richer than that median.

Fair Value models

Bear 43.61 IDR Fair Value 66.07 IDR Bull 82.59 IDR

Price 179.00 IDR · Downside -63.1%

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. 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

EPV 17.02 IDR 18.14 IDR 19.04 IDR 74

ROIC Compounder 17.02 IDR 18.14 IDR 19.04 IDR 72

EV/EBITDA 450.41 IDR 619.77 IDR 789.14 IDR 67

All 4 models by family

Earnings-Based

EPV 17.02 IDR 18.14 IDR 19.04 IDR 74

Multiples

EV/EBITDA 450.41 IDR 619.77 IDR 789.14 IDR 67

Asset-Based

NCAV (Graham) 43.61 IDR 66.07 IDR 82.59 IDR 54

Economic Profit

ROIC Compounder 17.02 IDR 18.14 IDR 19.04 IDR 72

Open the full fair value analysis →

Quality Score breakdown

Overall quality 34/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 19

How much profit the company makes from its sales and capital

Quality Growth 9

Are margins and returns getting better?

Cashflow 9

Do the profits arrive as real cash?

Financial strength 46

Debt, balance sheet and risk of trouble

Investment 67

Does it invest with discipline instead of growing at any price?

Low Volatility 96

How calm the share price moves, does not count

Price momentum 7

Price momentum of the last 3 to 12 months, does not count

Near the 52-week high 1

Distance to the 52-week high, does not count

New shares 82

Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 9/100

Revenue growth is weak: less than 2 % a year.

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.

−6.8%

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.

+1.9%

Start year 2020 (pandemic). Over 10 years: −3.3% 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.

+3.4%

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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.

7.3% (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

MLIA screens overvalued: fair value 63% below the price. Compare with Johnson Controls International plc →

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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.Building Products & Equipment · 255 stocks

Beats the industry median on 6/11 measures

A mixed picture versus its industry peers.

Valuation

Quality Score 34 · Bottom 25%

Fair Value upside −63.3% · Bottom 25%

Profitability

Return on assets −0.1% · Bottom 25%

Net margin (12 months) −4.7% · Bottom 25%

Operating margin (12 months) −12.2% · Bottom 25%

Growth and dividend

Revenue growth (quarter YoY) 5.5% · Above median

Dividend yield (12 months) 3.6% · Above median

Balance sheet

Debt / equity 0.09× · Below median

Valuation Multiplesvs Building Products & Equipment median · lower = cheaper

P/B 0.22× · Cheapest 25%

P/S (12 months) 0.29× · Cheapest 25%

EV/EBITDA 6.7× · Cheaper than median

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)0 · sector 15

FUTURE (revenue growth)28 · sector 24

PAST (return on equity)0 · sector 24

HEALTH (low debt)96 · sector 95

DIVIDEND (yield)73 · sector 44

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value	Compare
Compagnie de Saint-Gobain S.A SGO	€74.10	€93.79	+27%	vs MLIA
Carlisle Companies Incorporated CSL	$375.74	$347.14	−8%	vs MLIA
Madison Air Solutions Corporation MAIR	$23.04	$20.32	−12%	vs MLIA
Kingspan Group KRX	€95.15	€68.99	−27%	vs MLIA
Masco Corporation MAS	$82.22	$56.97	−31%	vs MLIA
Trane Technologies plc TT	$401.76	$223.94	−44%	vs MLIA
Johnson Controls International plc JCI	$135.03	$73.99	−45%	vs MLIA
Geberit AG GEBN	CHF 580.00	CHF 303.40	−48%	vs MLIA
Carrier Global Corporation CARR	$52.38	$19.35	−63%	vs MLIA
BELIMO Holding BEAN	CHF 727.00	CHF 236.88	−67%	vs MLIA

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PT Mulia Industrindo Tbk: fair value per Fair Value Calculator

<a href="https://www.fairvalue-calculator.com/stock/MLIA?utm_source=embed&amp;utm_medium=badge" target="_blank" rel="nofollow noopener"><img src="https://www.fairvalue-calculator.com/embed/MLIA.JK.svg" width="360" height="84" alt="PT Mulia Industrindo Tbk: fair value per Fair Value Calculator" style="border:0;max-width:100%" loading="lazy"></a>

Cite: Fair Value Calculator (2026). "PT Mulia Industrindo Tbk Fair Value". https://www.fairvalue-calculator.com/stock/MLIA

Frequently asked questions

Is PT Mulia Industrindo Tbk (MLIA) overvalued or undervalued?

As of Nov 9, 2026, our model estimates a fair value of 66.07 IDR versus a price of 179.00 IDR, about 63% lower (overvalued).

What is the fair value of MLIA?

Our model-based fair value for PT Mulia Industrindo Tbk is 66.07 IDR (as of Nov 9, 2026), built from audited fundamentals. The current price: 179.00 IDR.

What is the quality score of MLIA?

PT Mulia Industrindo Tbk has a Quality Score of 34/100. 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 PT Mulia Industrindo Tbk (MLIA)?

Our model-based price target is the fair value of 66.07 IDR (as of Nov 9, 2026) from 4 valuation models. Cautious scenario 43.61 IDR, optimistic scenario 82.59 IDR. It is a calculation from audited fundamentals, not an analyst target.

What is the PT Mulia Industrindo Tbk stock forecast for 2026?

Our models put fair value at 66.07 IDR, about 63% lower versus a price of 179.00 IDR (overvalued). Cautious scenario 43.61 IDR, optimistic scenario 82.59 IDR. The calculation is refreshed regularly with new filings.

What is the revenue of PT Mulia Industrindo Tbk (MLIA)?

PT Mulia Industrindo Tbk reported trailing-twelve-month revenue of about 4.1T IDR (latest available figure, as of Nov 9, 2026).

Does PT Mulia Industrindo Tbk pay a dividend?

PT Mulia Industrindo Tbk currently shows a dividend yield of 3.64% relative to its recent price (as of Nov 9, 2026).

How much is the dividend of PT Mulia Industrindo Tbk (MLIA)?

PT Mulia Industrindo Tbk has a dividend yield of 3.6%.

What is the intrinsic value of PT Mulia Industrindo Tbk (MLIA)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PT Mulia Industrindo Tbk it is 66.07 IDR per share (as of Nov 9, 2026), against a price of 179.00 IDR. It is the blended result of 4 valuation models in 4 families (Earnings-Based, Multiples, Asset-Based, Economic Profit).

Is PT Mulia Industrindo Tbk stock overvalued or undervalued in 2026?

As of Nov 9, 2026, MLIA trades above its calculated fair value: price 179.00 IDR, fair value 66.07 IDR, a gap of about −63% (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 MLIA?

No. The price is what the market pays today (179.00 IDR); the fair value is what the company's own numbers justify (66.07 IDR). For PT Mulia Industrindo Tbk the two are 112.93 IDR per share apart. That gap is exactly why we show both numbers side by side.

How much is PT Mulia Industrindo Tbk worth?

The market values PT Mulia Industrindo Tbk at about 1.2T IDR (market capitalisation, as of Nov 9, 2026). Per share that is 179.00 IDR; our models calculate a fair value of 66.07 IDR per share.

What do the bullish and bearish scenarios say about MLIA?

Our models span a range for PT Mulia Industrindo Tbk: cautious scenario 43.61 IDR, base 66.07 IDR, optimistic 82.59 IDR per share (as of Nov 9, 2026, price 179.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of PT Mulia Industrindo Tbk (MLIA)?

Balance-sheet figures for PT Mulia Industrindo Tbk (as of Nov 9, 2026): return on equity −3.6%, debt of 0.09 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.

How far is MLIA from its 52-week high?

PT Mulia Industrindo Tbk trades at 179.00 IDR, about 49% below its 52-week high of 350.00 IDR and 2% above the low of 176.00 IDR (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 66.07 IDR is for.

Which stocks are comparable to PT Mulia Industrindo Tbk?

From the same area (Industrials) we also value Johnson Controls International plc, Trane Technologies plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, 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 PT Mulia Industrindo Tbk stock attractive at the current price?

The data as of Nov 9, 2026: price 179.00 IDR, calculated fair value 66.07 IDR (−63%), Quality Score 34/100, from 4 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 MLIA calculated?

We run PT Mulia Industrindo Tbk through 4 models from 4 families: Earnings-Based, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 66.07 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. PT Mulia Industrindo 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 PT Mulia Industrindo Tbk (MLIA)?

The closing price on Nov 9, 2026 was 179.00 IDR. Our model-based fair value is 66.07 IDR, about 63% lower (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with PT Mulia Industrindo Tbk right now?

The price sits above even our optimistic bull case (82.59 IDR). The favourable scenario is already priced in. Weak quality (34/100) 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. A fairly wide model range (43.61 IDR to 82.59 IDR) leaves room in how you read the outcome.

Where does the earnings growth of PT Mulia Industrindo Tbk (MLIA) come from?

Earnings per share at PT Mulia Industrindo Tbk grew +24.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share −2.9 %, EBIT margin +11.3 %, tax rate −1.2 %, residual (interest, one-offs) +16.3 %. 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 PT Mulia Industrindo Tbk

How large is the market capitalisation of PT Mulia Industrindo Tbk (MLIA)?

The market capitalisation of PT Mulia Industrindo Tbk is 1.2T IDR (≈ $65.8M). 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 PT Mulia Industrindo Tbk (MLIA)?

The price-to-sales ratio of PT Mulia Industrindo Tbk is 0.31 (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 PT Mulia Industrindo Tbk (MLIA)?

Earnings per share at PT Mulia Industrindo Tbk are −29.08 IDR. Earnings per share over the last twelve months: total profit spread across every single share.

What is the dividend yield of PT Mulia Industrindo Tbk (MLIA)?

The dividend yield of PT Mulia Industrindo Tbk is 3.6%. 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 PT Mulia Industrindo Tbk (MLIA)?

The net margin of PT Mulia Industrindo Tbk is −4.7% (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 PT Mulia Industrindo Tbk (MLIA)?

The return on equity (ROE) of PT Mulia Industrindo Tbk is −3.6% (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 PT Mulia Industrindo Tbk (MLIA)?

On an EBIT basis the return on assets of PT Mulia Industrindo Tbk is 10.2% (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 PT Mulia Industrindo Tbk (MLIA)?

The operating margin of PT Mulia Industrindo Tbk is −12.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at PT Mulia Industrindo Tbk (MLIA)?

Revenue at PT Mulia Industrindo Tbk is growing +5.5% versus a year earlier (3y avg −6.8%). 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 PT Mulia Industrindo Tbk (MLIA)?

Earnings per share at PT Mulia Industrindo Tbk are growing −97.0% versus a year earlier. How much earnings per share grew versus a year earlier.

How much free cash flow does PT Mulia Industrindo Tbk (MLIA) generate?

The free cash flow of PT Mulia Industrindo Tbk is −304B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net debt does PT Mulia Industrindo Tbk (MLIA) carry?

The net debt of PT Mulia Industrindo Tbk is 382B IDR (fiscal year 2025). 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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