Surya Toto Indonesia Tbk (TOTO) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Surya Toto Indonesia Tbk stock IDR 441, price IDR 232, upside +90.0%, quality 69 out of 100. Rating: strongly undervalued. Calculated from audited financials with 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 132.20 IDR – 266.47 IDR · fair‑value band 304.99 IDR – 619.63 IDR · the 232.00 IDR price screens below the 440.77 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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PT Surya Toto Indonesia Tbk manufactures and sells sanitary, fittings, kitchen systems, and other related products in Indonesia and internationally. It operates through the Sanitary, Fittings, Kitchen systems, and Electrical Appliances and Accessories segments.
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The company offers neorest; washlet; toilet, lavatory, urinal, bidet, bathtub, sink; automatic, shower and bath, shower spray, faucet, and accessories, such as robe hook, floor drain, door handle, shelf, and tumbler holder; and supplementary parts, including stop valve and flexible hose.
It sells its products under the TOTO brand. The company also offers supporting activities such as machinery and machine tools for metalworking, repair of machinery for special purposes, and calibration/metrology services.
PT Surya Toto Indonesia Tbk was founded in 1977 and is based in Jakarta Barat, Indonesia.
Stock analysis
Surya Toto Indonesia Tbk (TOTO) currently trades at 232.00 IDR, while our model-based Fair Value estimate is 440.77 IDR, implying the stock looks roughly 47% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 633.38 IDR per share, and 19 of the 26 models we run sit above the 232.00 IDR price.
Bear case: the Asset-Based group reads lowest at 68.65 IDR, and 7 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 304.99 IDR (bear) to 619.63 IDR (bull), the price of 232.00 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 69/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Surya Toto Indonesia Tbk reported revenue of 2.4T IDR in FY2025 versus 1.8T IDR in FY2021, a compound +6.5%/yr. Reported net income was 351B IDR in FY2025, compounding +22.3%/yr from FY2021.
Key figures
Market cap 2.4T IDR (≈ $133M) Micro · P/E ratio 8.9 · P/S ratio 1.09 · EPS (TTM) 26.13 IDR · Dividend yield 5.6% · Net margin 12.4% · Return on equity 10.7% · Return on assets (EBIT) 9.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 8% 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 90%, TOTO screens cheaper than that median.
Fair Value models
Bear304.99 IDRFair Value 440.77 IDRBull619.63 IDR
Price 232.00 IDR · Upside +90.0%
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 (11.26 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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.9%
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.
+4.1%
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.
+7.7%
Start year 2020 (pandemic). Over 10 years: +0.3% 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.
+8.2%
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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.
+24.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.8%
Dividend (yield on the price)5.6%
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.18.8% vs 2.1%, picking up
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.1% → 17%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
−1.5%
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 −4.0% a year for the price.
Compare Surya Toto Indonesia Tbk with another stock
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.Building Products & Equipment · 255 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+91.6% · Top 25%
Profitability
Return on equity (12 months)10.7% · Above median
Return on assets9.8% · Top 25%
Net margin (12 months)12.4% · Top 25%
Operating margin (12 months)8.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)−13.1% · Bottom 25%
Dividend yield (12 months)5.6% · Top 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
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). "Surya Toto Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/TOTO
Frequently asked questions
Is Surya Toto Indonesia Tbk (TOTO) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 440.77 IDR versus a price of 232.00 IDR, about +90% upside (undervalued).
What is the fair value of TOTO?
Our model-based fair value for Surya Toto Indonesia Tbk is 440.77 IDR (as of Nov 8, 2026), built from audited fundamentals. The current price: 232.00 IDR.
What is the quality score of TOTO?
Surya Toto Indonesia Tbk has a Quality Score of 69/100. 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 Surya Toto Indonesia Tbk (TOTO)?
Our model-based price target is the fair value of 440.77 IDR (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 304.99 IDR, optimistic scenario 619.63 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Surya Toto Indonesia Tbk stock forecast for 2026?
Our models put fair value at 440.77 IDR, about +90% upside versus a price of 232.00 IDR (undervalued). Cautious scenario 304.99 IDR, optimistic scenario 619.63 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Surya Toto Indonesia Tbk (TOTO)?
Surya Toto Indonesia Tbk reported trailing-twelve-month revenue of about 2.2T IDR (latest available figure, as of Nov 8, 2026).
Does Surya Toto Indonesia Tbk pay a dividend?
Surya Toto Indonesia Tbk currently shows a dividend yield of 5.60% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Surya Toto Indonesia Tbk (TOTO) and when is the ex-dividend date?
Surya Toto Indonesia Tbk pays a dividend of 13.00 IDR per share a year, a dividend yield of 5.6%. The last ex-dividend date was Jun 12, 2026. A dividend has been paid every year since at least 2003. The payout ratio is 49.8% of earnings. Free cash flow covers the dividend 2.26 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Surya Toto Indonesia Tbk (TOTO)?
For today's price to be fair in a discounted-cash-flow model, Surya Toto Indonesia Tbk would have to grow free cash flow by -1.5 % per year for five years (discount rate 15.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.7 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of TOTO use?
Our models discount Surya Toto Indonesia 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 Surya Toto Indonesia Tbk that is -1.5 % 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 Surya Toto Indonesia Tbk (TOTO) delivered so far?
Over the past 5 years revenue at Surya Toto Indonesia Tbk grew +7.7 % a year. The price currently implies free-cash-flow growth of -1.5 % 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 Surya Toto Indonesia Tbk (TOTO) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Surya Toto Indonesia Tbk (-1.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Surya Toto Indonesia Tbk (TOTO)?
The free-cash-flow yield on the price is 12.69 %: that much free cash flow Surya Toto Indonesia 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 Surya Toto Indonesia Tbk (TOTO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Surya Toto Indonesia Tbk it is 440.77 IDR per share (as of Nov 8, 2026), against a price of 232.00 IDR. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Surya Toto Indonesia Tbk stock overvalued or undervalued in 2026?
As of Nov 8, 2026, TOTO trades below its calculated fair value: price 232.00 IDR, fair value 440.77 IDR, a gap of about +90% (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 TOTO?
No. The price is what the market pays today (232.00 IDR); the fair value is what the company's own numbers justify (440.77 IDR). For Surya Toto Indonesia Tbk the two are 208.77 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Surya Toto Indonesia Tbk worth?
The market values Surya Toto Indonesia Tbk at about 2.4T IDR (market capitalisation, as of Nov 8, 2026). Per share that is 232.00 IDR; our models calculate a fair value of 440.77 IDR per share.
What do the bullish and bearish scenarios say about TOTO?
Our models span a range for Surya Toto Indonesia Tbk: cautious scenario 304.99 IDR, base 440.77 IDR, optimistic 619.63 IDR per share (as of Nov 8, 2026, price 232.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TOTO?
Surya Toto Indonesia Tbk trades at a price-to-earnings ratio of 8.9 (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 440.77 IDR is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 10.4. Other multiples: P/B 0.9, P/S 1.1, EV/EBITDA 5.0.
How solid is the balance sheet of Surya Toto Indonesia Tbk (TOTO)?
Balance-sheet figures for Surya Toto Indonesia Tbk (as of Nov 8, 2026): return on equity 10.7%, debt of 0.01 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is TOTO from its 52-week high?
Surya Toto Indonesia Tbk trades at 232.00 IDR, about 13% below its 52-week high of 266.47 IDR and 8% above the low of 215.44 IDR (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 440.77 IDR is for.
Which stocks are comparable to Surya Toto Indonesia 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 Surya Toto Indonesia Tbk stock attractive at the current price?
The data as of Nov 8, 2026: price 232.00 IDR, calculated fair value 440.77 IDR (+90%), Quality Score 69/100, from 26 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 TOTO calculated?
We run Surya Toto Indonesia Tbk through 26 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 440.77 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. Surya Toto Indonesia Tbk currently trades 47% 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 Surya Toto Indonesia Tbk (TOTO)?
The closing price on Nov 9, 2026 was 232.00 IDR. Our model-based fair value is 440.77 IDR, about +90% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Surya Toto Indonesia Tbk right now?
The price is below even our cautious bear case (304.99 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. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (304.99 IDR to 619.63 IDR) leaves room in how you read the outcome.
Where does the earnings growth of Surya Toto Indonesia Tbk (TOTO) come from?
Earnings per share at Surya Toto Indonesia Tbk grew +2.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.5 %, EBIT margin −0.6 %, tax rate +0.9 %, residual (interest, one-offs) +1.1 %. 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 Surya Toto Indonesia Tbk
How large is the market capitalisation of Surya Toto Indonesia Tbk (TOTO)?
The market capitalisation of Surya Toto Indonesia Tbk is 2.4T IDR (≈ $133M). 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 Surya Toto Indonesia Tbk (TOTO)?
The price-to-sales ratio of Surya Toto Indonesia Tbk is 1.09 (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 Surya Toto Indonesia Tbk (TOTO)?
Earnings per share at Surya Toto Indonesia Tbk are 26.13 IDR (price ÷ EPS = P/E 8.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Surya Toto Indonesia Tbk (TOTO)?
The dividend yield of Surya Toto Indonesia Tbk is 5.6% (payout 49.8%). 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 Surya Toto Indonesia Tbk (TOTO)?
The net margin of Surya Toto Indonesia Tbk is 12.4% (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 Surya Toto Indonesia Tbk (TOTO)?
The return on equity (ROE) of Surya Toto Indonesia Tbk is 10.7% (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 Surya Toto Indonesia Tbk (TOTO)?
On an EBIT basis the return on assets of Surya Toto Indonesia Tbk is 9.7% (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 Surya Toto Indonesia Tbk (TOTO)?
The operating margin of Surya Toto Indonesia Tbk is 8.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Surya Toto Indonesia Tbk (TOTO)?
Revenue at Surya Toto Indonesia Tbk is growing −13.1% versus a year earlier (3y avg +4.1%). 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 Surya Toto Indonesia Tbk (TOTO)?
Earnings per share at Surya Toto Indonesia Tbk are growing −48.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Surya Toto Indonesia Tbk (TOTO) hold?
Surya Toto Indonesia Tbk holds more cash than debt, 203B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 8, 2026