Tower Bersama Infrastructure Tbk PT (TBIG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tower Bersama Infrastructure Tbk PT stock IDR 1,392, price IDR 990, upside +40.6%, quality 54 out of 100. Rating: undervalued. Calculated from audited financials with 25 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 8, 2026.
How to read this chart
60‑month range 990.00 IDR – 3,031 IDR · fair‑value band 863.59 IDR – 1,740 IDR · the 990.00 IDR price screens below the 1,392 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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PT Tower Bersama Infrastructure Tbk, together with its subsidiaries, engages in central telecommunications construction, telecommunications installations, and cable-based telecommunications business. The company operates through Tower, Repeater, Building, and Fiber Optic segments.
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It engages in central construction of communication; wholesale trade in telecommunications equipment; services, trading, development, agriculture, industry, printing and transportation; and rental and leasing activity for mining and energy, and machines and equipment.
The company is also involved in the operation of electricity power supply installations; operation of owned or leased real estate; and repair of electric motors generators, transformers, and telecommunications installations.
In addition, it is involved in internet service, management consulting, construction, information and communication, employment, travel agents, and other business support, as well as wholesale trade of computer and computer supplies, communications equipment, electronic parts, and telecommunication equipment; and software trading and publishing.
Further, the company offers construction of electrical network and other telecommunication, electricity installation, telecommunication installation, and electronic installation; and activities in the fields of electricity procurement, gas, steam/hot water, cold air, trade, and arts, as well as rental activities.
The company was formerly known as PT Banyan Mas. PT Tower Bersama Infrastructure Tbk was founded in 2004 and is based in Jakarta Selatan, Indonesia. PT Tower Bersama Infrastructure Tbk operates as a subsidiary of Bersama Digital Infrastructure Asia Pte Ltd.
Stock analysis
Tower Bersama Infrastructure Tbk PT (TBIG) currently trades at 990.00 IDR, while our model-based Fair Value estimate is 1,392 IDR, implying the stock looks roughly 29% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 1,607 IDR per share, and 14 of the 25 models we run sit above the 990.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 282.18 IDR, and 11 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: 863.59 IDR (bear) to 1,740 IDR (bull), the price of 990.00 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 54/100 (solid quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Tower Bersama Infrastructure Tbk PT reported revenue of 6.9T IDR in FY2025 versus 6.2T IDR in FY2021, a compound +2.8%/yr. Reported net income was 1.4T IDR in FY2025, compounding −2.0%/yr from FY2021.
Key figures
Market cap 22.3T IDR (≈ $1.2B) Small · P/E ratio 15.4 · P/S ratio 3.23 · EPS (TTM) 64.24 IDR · Dividend yield 4.7% · Net margin 20.8% · Return on equity 12.5% · Return on assets (EBIT) 9.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 64% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 51% fair-value upside, at 41%, TBIG screens richer than that median.
Fair Value models
Bear863.59 IDRFair Value 1,392 IDRBull1,740 IDR
Price 990.00 IDR · Upside +40.6%
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 (14.78 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.6%
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.
+1.9%
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.
+5.3%
Start year 2020 (pandemic). Over 10 years: +7.3% 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.
+24.1%
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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.
+10.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.7%
Dividend (yield on the price)4.7%
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.5.7% vs 1.1%, picking up
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+13.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about +10.5% a year for the price and −0.4% for the forecasts.
Compare Tower Bersama Infrastructure Tbk PT with another stock
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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.Telecom Services · 234 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+40.6% · Above median
Profitability
Return on equity (12 months)12.5% · Above median
Return on assets3.1% · Below median
Net margin (12 months)20.8% · Top 25%
Operating margin (12 months)62.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)1.4% · Below median
Dividend yield (12 months)4.7% · Above median
Balance sheet
Debt / equity1.40× · Highest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (12 months)15.4× · Cheaper than median
P/B1.85× · Pricier than median
P/S (12 months)3.23× · Priciest 25%
Price / free cash flow (fiscal year)7.9× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Tower Bersama Infrastructure Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/TBIG
Frequently asked questions
Is Tower Bersama Infrastructure Tbk PT (TBIG) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 1,392 IDR versus a price of 990.00 IDR, about +41% upside (undervalued).
What is the fair value of TBIG?
Our model-based fair value for Tower Bersama Infrastructure Tbk PT is 1,392 IDR (as of Nov 8, 2026), built from audited fundamentals. The current price: 990.00 IDR.
What is the quality score of TBIG?
Tower Bersama Infrastructure Tbk PT has a Quality Score of 54/100. 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 Tower Bersama Infrastructure Tbk PT (TBIG)?
Our model-based price target is the fair value of 1,392 IDR (as of Nov 8, 2026) from 25 valuation models. Cautious scenario 863.59 IDR, optimistic scenario 1,740 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Tower Bersama Infrastructure Tbk PT stock forecast for 2026?
Our models put fair value at 1,392 IDR, about +41% upside versus a price of 990.00 IDR (undervalued). Cautious scenario 863.59 IDR, optimistic scenario 1,740 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Tower Bersama Infrastructure Tbk PT (TBIG)?
Tower Bersama Infrastructure Tbk PT reported trailing-twelve-month revenue of about 6.9T IDR (latest available figure, as of Nov 8, 2026).
Does Tower Bersama Infrastructure Tbk PT pay a dividend?
Tower Bersama Infrastructure Tbk PT currently shows a dividend yield of 4.75% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Tower Bersama Infrastructure Tbk PT (TBIG) and when is the ex-dividend date?
Tower Bersama Infrastructure Tbk PT pays a dividend of 47.00 IDR per share a year, a dividend yield of 4.7%. The last ex-dividend date was Jun 19, 2026. A dividend has been paid every year since 2016. The payout ratio is 73.2% of earnings. Free cash flow covers the dividend 2.65 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Tower Bersama Infrastructure Tbk PT (TBIG)?
For today's price to be fair in a discounted-cash-flow model, Tower Bersama Infrastructure Tbk PT would have to grow free cash flow by +13.4 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.3 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of TBIG use?
Our models discount Tower Bersama Infrastructure Tbk PT at 12.0 %: a base by market capitalisation (small), damped by beta 0.03, 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 Tower Bersama Infrastructure Tbk PT that is +13.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Tower Bersama Infrastructure Tbk PT (TBIG) delivered so far?
Over the past 5 years revenue at Tower Bersama Infrastructure Tbk PT grew +5.3 % a year. The price currently implies free-cash-flow growth of +13.4 % 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 Tower Bersama Infrastructure Tbk PT (TBIG) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Tower Bersama Infrastructure Tbk PT (+13.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tower Bersama Infrastructure Tbk PT (TBIG)?
The free-cash-flow yield on the price is 12.60 %: that much free cash flow Tower Bersama Infrastructure Tbk PT produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tower Bersama Infrastructure Tbk PT (TBIG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tower Bersama Infrastructure Tbk PT it is 1,392 IDR per share (as of Nov 8, 2026), against a price of 990.00 IDR. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Tower Bersama Infrastructure Tbk PT stock overvalued or undervalued in 2026?
As of Nov 8, 2026, TBIG trades below its calculated fair value: price 990.00 IDR, fair value 1,392 IDR, a gap of about +41% (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 TBIG?
No. The price is what the market pays today (990.00 IDR); the fair value is what the company's own numbers justify (1,392 IDR). For Tower Bersama Infrastructure Tbk PT the two are 402.00 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Tower Bersama Infrastructure Tbk PT worth?
The market values Tower Bersama Infrastructure Tbk PT at about 22.3T IDR (market capitalisation, as of Nov 8, 2026). Per share that is 990.00 IDR; our models calculate a fair value of 1,392 IDR per share.
What do the bullish and bearish scenarios say about TBIG?
Our models span a range for Tower Bersama Infrastructure Tbk PT: cautious scenario 863.59 IDR, base 1,392 IDR, optimistic 1,740 IDR per share (as of Nov 8, 2026, price 990.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TBIG?
Tower Bersama Infrastructure Tbk PT trades at a price-to-earnings ratio of 15.4 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,392 IDR is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings, FY2025 ex one-offs: 33.7. Other multiples: P/B 1.9, P/S 3.2, EV/EBITDA 7.1.
How solid is the balance sheet of Tower Bersama Infrastructure Tbk PT (TBIG)?
Balance-sheet figures for Tower Bersama Infrastructure Tbk PT (as of Nov 8, 2026): return on equity 12.5%, debt of 1.40 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is TBIG from its 52-week high?
Tower Bersama Infrastructure Tbk PT trades at 990.00 IDR, about 64% below its 52-week high of 2,717 IDR and at the low of 990.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,392 IDR is for.
Which stocks are comparable to Tower Bersama Infrastructure Tbk PT?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T 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 Tower Bersama Infrastructure Tbk PT stock attractive at the current price?
The data as of Nov 8, 2026: price 990.00 IDR, calculated fair value 1,392 IDR (+41%), Quality Score 54/100, from 25 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 TBIG calculated?
We run Tower Bersama Infrastructure Tbk PT through 25 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 1,392 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. Tower Bersama Infrastructure Tbk PT currently trades 29% 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 Tower Bersama Infrastructure Tbk PT (TBIG)?
The closing price on Nov 6, 2026 was 990.00 IDR. Our model-based fair value is 1,392 IDR, about +41% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tower Bersama Infrastructure Tbk PT right now?
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 quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (863.59 IDR to 1,740 IDR) leaves room in how you read the outcome.
Key figures of Tower Bersama Infrastructure Tbk PT
How large is the market capitalisation of Tower Bersama Infrastructure Tbk PT (TBIG)?
The market capitalisation of Tower Bersama Infrastructure Tbk PT is 22.3T IDR (≈ $1.2B). 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 Tower Bersama Infrastructure Tbk PT (TBIG)?
The price-to-sales ratio of Tower Bersama Infrastructure Tbk PT is 3.23 (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 Tower Bersama Infrastructure Tbk PT (TBIG)?
Earnings per share at Tower Bersama Infrastructure Tbk PT are 64.24 IDR (price ÷ EPS = P/E 15.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tower Bersama Infrastructure Tbk PT (TBIG)?
The dividend yield of Tower Bersama Infrastructure Tbk PT is 4.7% (payout 73.2%). 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 Tower Bersama Infrastructure Tbk PT (TBIG)?
The net margin of Tower Bersama Infrastructure Tbk PT is 20.8% (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 Tower Bersama Infrastructure Tbk PT (TBIG)?
The return on equity (ROE) of Tower Bersama Infrastructure Tbk PT is 12.5% (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 Tower Bersama Infrastructure Tbk PT (TBIG)?
On an EBIT basis the return on assets of Tower Bersama Infrastructure Tbk PT is 9.3% (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 Tower Bersama Infrastructure Tbk PT (TBIG)?
The operating margin of Tower Bersama Infrastructure Tbk PT is 62.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tower Bersama Infrastructure Tbk PT (TBIG)?
Revenue at Tower Bersama Infrastructure Tbk PT is growing +1.4% versus a year earlier (3y avg +1.9%). 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 Tower Bersama Infrastructure Tbk PT (TBIG)?
Earnings per share at Tower Bersama Infrastructure Tbk PT are growing +8.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tower Bersama Infrastructure Tbk PT (TBIG) carry?
The net debt of Tower Bersama Infrastructure Tbk PT is 29.8T IDR (fiscal year 2025, ≈ 10.6 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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Nov 8, 2026