Ace Hardware Indonesia Tbk (ACES) fair value: what the stock is really worth
We calculate from audited financials what Ace Hardware Indonesia Tbk is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range 286.54 IDR – 1,197 IDR · fair‑value band 564.14 IDR – 963.24 IDR · the 352.00 IDR price screens below the 740.96 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
PT Aspirasi Hidup Indonesia Tbk engages in the retail of home improvement products in Indonesia. The company operates through Home Improvement Products, Lifestyle Products, and Toys Products segments.
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PT Aspirasi Hidup Indonesia Tbk engages in the retail of home improvement products in Indonesia. The company operates through Home Improvement Products, Lifestyle Products, and Toys Products segments. It offers bathroom and laundry, renovation and household equipment, electronics, and lamp and bulbs; kitchen, hobby and lifestyle, home accents, Olahraga dan outdoor, automotive, and cleaning tools; and toys. The company also engages in trading; real estate; transportation and warehousing; accommodation and food and beverage services; and information and communication business. It operates retail outlets under the AZKO, ATARU, Pendopo, and Toys Kingdom brands, as well as online shopping sites under the ruparupa brand. The company was formerly known as PT Ace Hardware Indonesia Tbk and changed its name to PT Aspirasi Hidup Indonesia Tbk in June 2024. PT Aspirasi Hidup Indonesia Tbk was founded in 1995 and is headquartered in Jakarta, Indonesia. PT Aspirasi Hidup Indonesia Tbk is a subsidiary of Kawan Lama Sejahtera, PT.
Stock analysis
Ace Hardware Indonesia Tbk (ACES) currently trades at 352.00 IDR, while our model-based Fair Value estimate is 740.96 IDR, implying the stock looks roughly 52.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1,392 IDR per share, and 23 of the 24 models we run sit above the 352.00 IDR price.
Bear case: the Asset-Based group reads lowest at 255.23 IDR, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 564.14 IDR (bear) to 963.24 IDR (bull), the price of 352.00 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 Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Ace Hardware Indonesia Tbk reported revenue of 8.6T IDR in FY2025 versus 6.5T IDR in FY2021, a compound +7.2%/yr. Reported net income was 669B IDR in FY2025, compounding −0.8%/yr from FY2021.
Key figures
Market cap 6.0T IDR (≈ $603M) · P/E ratio 8.7 · P/S ratio 0.68 · EPS (TTM) 40.24 IDR · Net margin 7.7% · Return on equity 10.3% · Return on assets (EBIT) 11.9% · Operating margin 8.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 4% fair-value upside, at 111%, ACES screens cheaper than that median.
Fair Value models
Bear 564.14 IDRFair Value 740.96 IDRBull 963.24 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (28.33 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.Evidence ⓘEvidence = 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.64/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.7%
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.
+8.5%
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.
+3.1%
Revenue growth 21 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.
+16.5%
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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.
−1.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.8%
Dividend (yield on the price)0.0%
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.−2% vs 1%, slowing
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.13% → 7%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−25.5%
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.
+7.3%
Yearly sales growth analysts expect, extended to five years.
Compare Ace Hardware 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.Specialty Retail · 228 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+103% · Top 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets7% · Top 25%
Net margin (TTM)8% · Top 25%
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth10% · Above median
Dividend yield (TTM)8.9% · Top 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Specialty Retail median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Ace Hardware Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/ACES
Frequently asked questions
Is Ace Hardware Indonesia Tbk (ACES) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 740.96 IDR versus a price of 352.00 IDR, about +111% upside (undervalued).
What is the fair value of ACES?
Our model-based fair value for Ace Hardware Indonesia Tbk is 740.96 IDR (as of Sep 13, 2026), built from audited fundamentals. The current price: 352.00 IDR.
What is the quality score of ACES?
Ace Hardware 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 Ace Hardware Indonesia Tbk (ACES)?
Our model-based price target is the fair value of 740.96 IDR (as of Sep 13, 2026) from 24 valuation models. Cautious scenario 564.14 IDR, optimistic scenario 963.24 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Ace Hardware Indonesia Tbk stock forecast for 2026?
Our models put fair value at 740.96 IDR, about +111% upside versus a price of 352.00 IDR (undervalued). Cautious scenario 564.14 IDR, optimistic scenario 963.24 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Ace Hardware Indonesia Tbk (ACES)?
Ace Hardware Indonesia Tbk reported trailing-twelve-month revenue of about 8.7T IDR (latest available figure, as of Sep 13, 2026).
What growth is priced into Ace Hardware Indonesia Tbk (ACES)?
For today's price to be fair in a discounted-cash-flow model, Ace Hardware Indonesia Tbk would have to grow free cash flow by -25.5 % 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 +3.1 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of ACES use?
Our models discount Ace Hardware Indonesia Tbk at 12.0 %: a base by market capitalisation (small), damped by beta 0.12, 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 Ace Hardware Indonesia Tbk that is -25.5 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Ace Hardware Indonesia Tbk (ACES) delivered so far?
Over the past 5 years revenue at Ace Hardware Indonesia Tbk grew +3.1 % a year. The price currently implies -25.5 % per year free-cash-flow growth a 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 Ace Hardware Indonesia Tbk (ACES) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Ace Hardware Indonesia Tbk (-25.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ace Hardware Indonesia Tbk (ACES)?
The free-cash-flow yield on the price is 24.22 %: that much free cash flow Ace Hardware Indonesia Tbk 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 Ace Hardware Indonesia Tbk (ACES)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ace Hardware Indonesia Tbk it is 740.96 IDR per share (as of Sep 13, 2026), against a price of 352.00 IDR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Ace Hardware Indonesia Tbk stock overvalued or undervalued in 2026?
As of Sep 13, 2026, ACES trades below its calculated fair value: price 352.00 IDR, fair value 740.96 IDR, a gap of about +111% (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 ACES?
No. The price is what the market pays today (352.00 IDR); the fair value is what the company's own numbers justify (740.96 IDR). For Ace Hardware Indonesia Tbk the two are 388.96 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Ace Hardware Indonesia Tbk worth?
The market values Ace Hardware Indonesia Tbk at about 6.0T IDR (market capitalisation, as of Sep 13, 2026). Per share that is 352.00 IDR; our models calculate a fair value of 740.96 IDR per share.
What do the bullish and bearish scenarios say about ACES?
Our models span a range for Ace Hardware Indonesia Tbk: cautious scenario 564.14 IDR, base 740.96 IDR, optimistic 963.24 IDR per share (as of Sep 13, 2026, price 352.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ACES?
Ace Hardware Indonesia Tbk trades at a price-to-earnings ratio of 8.7 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 740.96 IDR is built from several models across several years. Other multiples: PEG 3.0, P/B 0.9, P/S 0.7, EV/EBITDA 3.4.
What is the PEG ratio of ACES?
The PEG ratio of Ace Hardware Indonesia Tbk is 2.97 (P/E divided by earnings growth, as of Sep 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ace Hardware Indonesia Tbk (ACES)?
Balance-sheet figures for Ace Hardware Indonesia Tbk (as of Sep 13, 2026): return on equity 10.3%, debt of 0.00 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is ACES from its 52-week high?
Ace Hardware Indonesia Tbk trades at 352.00 IDR, about 33% below its 52-week high of 523.17 IDR and 12% above the low of 314.00 IDR (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 740.96 IDR is for.
Which stocks are comparable to Ace Hardware Indonesia Tbk?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Casey's General Stores, Inc, Williams-Sonoma, Inc, Ulta Beauty, 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 Ace Hardware Indonesia Tbk stock attractive at the current price?
The data as of Sep 13, 2026: price 352.00 IDR, calculated fair value 740.96 IDR (+111%), Quality Score 69/100, from 24 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 ACES calculated?
We run Ace Hardware Indonesia Tbk through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 740.96 IDR, 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 15.8 % above its aggregate fair value. Ace Hardware Indonesia Tbk currently trades 111 % 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 should I pay attention to with Ace Hardware Indonesia Tbk right now?
The price is below even our cautious bear case (564.14 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.
Where does the earnings growth of Ace Hardware Indonesia Tbk (ACES) come from?
Earnings per share at Ace Hardware Indonesia Tbk grew +2.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.3 %, EBIT margin −4.3 %, tax rate +0.1 %, residual (interest, one-offs) +0.6 %. 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 Ace Hardware Indonesia Tbk
How large is the market capitalisation of Ace Hardware Indonesia Tbk (ACES)?
The market capitalisation of Ace Hardware Indonesia Tbk is 6.0T IDR (≈ $603M). 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 Ace Hardware Indonesia Tbk (ACES)?
The price-to-sales ratio of Ace Hardware Indonesia Tbk is 0.68 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ace Hardware Indonesia Tbk (ACES)?
Earnings per share at Ace Hardware Indonesia Tbk are 40.24 IDR (price ÷ EPS = P/E 8.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ace Hardware Indonesia Tbk (ACES)?
The net margin of Ace Hardware Indonesia Tbk is 7.7% (fiscal year 2025). 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 Ace Hardware Indonesia Tbk (ACES)?
The return on equity (ROE) of Ace Hardware Indonesia Tbk is 10.3% (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 Ace Hardware Indonesia Tbk (ACES)?
On an EBIT basis the return on assets of Ace Hardware Indonesia Tbk is 11.9% (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 Ace Hardware Indonesia Tbk (ACES)?
The operating margin of Ace Hardware Indonesia Tbk is 8.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ace Hardware Indonesia Tbk (ACES)?
Revenue at Ace Hardware Indonesia Tbk is growing +10.1% versus a year earlier (3y avg +8.5%). 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 Ace Hardware Indonesia Tbk (ACES)?
Earnings per share at Ace Hardware Indonesia Tbk are growing +15.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Ace Hardware Indonesia Tbk (ACES) hold?
Ace Hardware Indonesia Tbk holds more cash than debt, 1.2T IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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