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STOCK COMPARISON

SAP vs PT Topindo Solusi Komunika Tbk: Fair Value & Quality

Both stocks run through our valuation models. Here is how SAP (SAP) and PT Topindo Solusi Komunika Tbk (TOSK) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: SAP trades at €184 versus a fair value of €159 (-14%), while PT Topindo Solusi Komunika Tbk trades at IDR 86 versus IDR 22 (-75%).
SAP
SAP.XETRA · EUR · Information Technology
-14%
upside to fair value
overvalued
Price€184
Fair Value€159
Quality81/100
PT Topindo Solusi Komunika Tbk
TOSK.JK · IDR · Communication Services
-75%
upside to fair value
overvalued
PriceIDR 86
Fair ValueIDR 22
Quality39/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

SAPPT Topindo Solusi Komunika Tbk
Valuation
29.9×P/E (TTM)n/a
6.68×P/S (TTM)n/a
5.57×P/Bn/a
21.1×EV/EBITDAn/a
1.37×PEGn/a
−13.6%Fair value upside−74.7%
1.3%Dividend yield0.7%
€2.50Dividend per sharen/a
Profitability
30%Operating margin0%
1.16×EBIT margin trend (5Y)2.50×
16%Return on equity3%
9%Return on assets3%
Growth
6%Revenue growth (YoY)-1%
6.0%Avg. growth/yr (3Y)-3.3%
6.1%Avg. growth/yr (5Y)n/a
−1.3%Value creation/yr−40.8%
Balance & size
7.5×Interest coverage (EBIT/interest)2.8×
0.09×Debt / equity0.01×
$249BMarket cap$37M
healthyGrowth qualitymixed
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

SAP leads: 8 to 2 metric wins.

n/a = 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.

SAPof which business quality 78 · market factors 54 PT Topindo Solusi Komunika Tbkof which business quality 43 · market factors 57
ProfitabilityMargins and returns on capital today
62
40
Quality GrowthAre margins and returns improving?
76
30
CashflowEarnings quality: real cash, not paper profit
80
34
Fin. StrengthBalance sheet, leverage, solvency risk
79
72
InvestmentDisciplined investing over empire-building
94
32
Low VolatilityCalm price path (market factor)
61
25
MomentumPrice trend over the last 3–12 months (market factor)
61
75
52W MomentumDistance to the 52-week high (market factor)
33
60
Net IssuanceShare count: buybacks or dilution?
84
41

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familySAPPrice €184PT Topindo Solusi Komunika TbkPrice IDR 86
DCF Models-13%close to the price€160n/a
Earnings-Based-67%below the price€60.32-82%below the priceIDR 16
Dividend Discount-78%below the price€41.03-94%below the priceIDR 5
Multiples-20%below the price€147-65%below the priceIDR 30
Asset-Based-86%below the price€25.68-72%below the priceIDR 24
Growth DCF-24%below the price€140n/a
Economic Profit-62%below the price€69.81-73%below the priceIDR 23
Growth Earnings-15%below the price€156-75%below the priceIDR 22
Minimum-86%below the price€25.68-94%below the priceIDR 5
Maximum-13%close to the price€160-65%below the priceIDR 30
Median-43%below the price€105-74%below the priceIDR 22
Geometric mean-55%below the price€83.14-80%below the priceIDR 17

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

SAP: 23 of 26 models see the stock below the current price.

PT Topindo Solusi Komunika Tbk: 14 of 14 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

SAP
Price €184
Fair Value €159
Bear €109Bull €220
PT Topindo Solusi Komunika Tbk
Price IDR 86
Fair Value IDR 22
Bear IDR 15Bull IDR 22

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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.

SAP · Information Technology

Quality score81 · Top 25%
Fair value upside-14% · above median

PT Topindo Solusi Komunika Tbk · Communication Services

Quality score39 · bottom 25%
Fair value upside-75% · bottom 25%

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: SAP trades at €184 versus a fair value of €159 (-14%), while PT Topindo Solusi Komunika Tbk trades at IDR 86 versus IDR 22 (-75%).

SAP has the higher quality score (81/100).

Open SAP live analysis →
SAP · PT Topindo Solusi Komunika Tbk

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