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STOCK COMPARISON

Rukun Raharja Tbk vs Naturgy Energy Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how Rukun Raharja Tbk (RAJA) and Naturgy Energy Group (NTGY) compare, as of Aug 23, 2026.

As of Aug 23, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Rukun Raharja Tbk trades at IDR 850 versus a fair value of IDR 287 (-66%), while Naturgy Energy Group trades at €29.44 versus €31.58 (+7%).
Rukun Raharja Tbk
RAJA.JK · IDR · Energy
-66%
upside to fair value
overvalued
PriceIDR 850
Fair ValueIDR 287
Quality46/100
Naturgy Energy Group
NTGY.MC · EUR · Utilities
+7%
upside to fair value
fairly valued
Price€29.44
Fair Value€31.58
Quality55/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Rukun Raharja TbkNaturgy Energy Group
Valuation
37.0×P/E (TTM)13.4×
7.58×P/S (TTM)1.64×
9.10×P/B3.34×
34.3×EV/EBITDA7.9×
PEG6.40×
Dividend yield6.3%
Profitability
11%Net margin11%
25%Operating margin18%
15%Return on equity22%
6%Return on assets6%
Growth
-16%Revenue growth (YoY)-7%
27.6%Avg. growth/yr (3Y)-17.0%
21.7%Avg. growth/yr (5Y)4.9%
Balance & size
0.51×Debt / equity1.38×
$2BMarket cap$31B
mixedGrowth qualityhealthy

Naturgy Energy Group leads: 5 to 7 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Rukun Raharja Tbkof which business quality 49 · market factors 15 Naturgy Energy Groupof which business quality 52 · market factors 68
ProfitabilityMargins and returns on capital today
41
45
Quality GrowthAre margins and returns improving?
33
37
CashflowEarnings quality: real cash, not paper profit
53
67
Fin. StrengthBalance sheet, leverage, solvency risk
64
30
InvestmentDisciplined investing over empire-building
5
71
Low VolatilityCalm price path (market factor)
50
94
MomentumPrice trend over the last 3–12 months (market factor)
0
51
52W MomentumDistance to the 52-week high (market factor)
1
69
Net IssuanceBuybacks instead of dilution
82
76

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Rukun Raharja Tbk

DCF ModelsIDR 287
Earnings-BasedIDR 574
Dividend DiscountIDR 144
MultiplesIDR 287
Asset-BasedIDR 144
Growth DCFIDR 287
Economic ProfitIDR 215
Growth EarningsIDR 718

25 of 26 models see the stock below the current price.

Naturgy Energy Group

DCF Models€30.77
Earnings-Based€26.55
Dividend Discount€23.41
Multiples€40.20
Asset-Based€6.76
Growth DCF€32.80
Economic Profit€20.95
Growth Earnings€30.66

13 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Rukun Raharja Tbk
Bear IDR 162Fair Value IDR 287Bull IDR 359
IDR 850 = current price (white tick)
Naturgy Energy Group
Bear €18.13Fair Value €31.58Bull €47.64
€29.44 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Rukun Raharja Tbk · Energy

Quality score46 · below median
Fair value upside-66% · bottom 25%

Naturgy Energy Group · Utilities

Quality score55 · Top 25%
Fair value upside+7% · above median

Bottom line

As of Aug 23, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Rukun Raharja Tbk trades at IDR 850 versus a fair value of IDR 287 (-66%), while Naturgy Energy Group trades at €29.44 versus €31.58 (+7%).

Naturgy Energy Group has the higher quality score (55/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.