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PT Asiaplast Industries Tbk (APLI) Fair Value & Analysis

Consumer Cyclical · ID · Market cap 335B IDR

PA PT Asiaplast Industries Tbk APLI · JK
Price258.00 IDR
Fair Value70.30 IDR
Upside-72.8%
Quality51/100
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Weak Growth
Thin margins · 1.9% net margin
Low debt · generates free cash flow
17.90% dividend yield
Trails peers (4/14)
Narrow moat 22/100
Evidence: High Range 52.73 IDR – 87.88 IDR Share as image

Fair value as of: Jul 16, 2026

From 17 valuation models · updated 25 days ago

Share price +4.9% over the past month.

A solid business, but screening 73% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (87.88 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

526.19 IDR 151.65 IDR Fair Value 70.30 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 151.65 IDR – 526.19 IDR · fair‑value band 52.73 IDR – 87.88 IDR · the 258.00 IDR price screens above the 70.30 IDR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Asiaplast Industries Tbk (APLI) currently trades at 258.00 IDR, while our model-based Fair Value estimate is 70.30 IDR, implying the stock looks roughly 72.8% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PT Asiaplast Industries Tbk generated revenue of 298B IDR at a net margin of 1.9%. Revenue declined 3.2% year over year. It earns a return on equity of 1.7%. The balance sheet holds a net cash position of 97.7B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 52.73 IDR (bear case) to 87.88 IDR (bull case); at 258.00 IDR, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 51% below its 52-week high and 48% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at -73%, APLI screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Growth DCF 77.76 IDR 85.44 IDR 99.81 IDR 80
Residual Income 181.67 IDR 171.84 IDR 134.32 IDR 76
Growth-Adj P/E 37.56 IDR 53.66 IDR 69.76 IDR 68
All 17 models by family
DCF Models
FCF DCF 76.83 IDR 84.61 IDR 100.48 IDR 38
5Y Revenue Exit 74.32 IDR 81.92 IDR 93.27 IDR 39
5Y EBITDA Exit 142.33 IDR 198.01 IDR 273.33 IDR 41
5Y P/E Exit 92.97 IDR 113.76 IDR 139.10 IDR 38
10Y Revenue Exit 74.60 IDR 81.14 IDR 88.42 IDR 36
10Y EBITDA Exit 117.63 IDR 157.87 IDR 203.90 IDR 37
10Y P/E Exit 86.75 IDR 102.19 IDR 117.81 IDR 35
Earnings-Based
Graham-Dodd 28.12 IDR 42.21 IDR 50.14 IDR 54
Multiples
P/E Multiple 52.73 IDR 70.30 IDR 87.88 IDR 63
P/S Multiple 52.73 IDR 70.30 IDR 87.88 IDR 58
P/B Multiple 52.73 IDR 70.30 IDR 87.88 IDR 55
EV/EBITDA 200.03 IDR 247.74 IDR 295.45 IDR 54
EV/Revenue 74.23 IDR 81.65 IDR 89.08 IDR 43
Asset-Based
NCAV (Graham) 128.62 IDR 172.35 IDR 257.24 IDR 50
Growth DCF
Growth DCF 77.76 IDR 85.44 IDR 99.81 IDR 80
Economic Profit
Residual Income 181.67 IDR 171.84 IDR 134.32 IDR 76
Growth Earnings
Growth-Adj P/E 37.56 IDR 53.66 IDR 69.76 IDR 68

Widest divergence: Asset-Based (172.35 IDR) versus Earnings-Based (42.21 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 298B IDR
Revenue growth (YoY) -3.2%
Net margin 1.9%
Return on equity 1.7%
Free cash flow 2.6B IDR FY2025
P/E ratio 58.2
More key figures
Operating margin -2.9%
EPS (TTM) 4.26 IDR
EPS growth (YoY) -2.2%
Net cash 97.7B IDR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 54 · Market factors (momentum, volatility) 35

Profitability 23
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PT Asiaplast Industries Tbk manufactures and sells plastic sheets in Indonesia. It operates through two segments: Plastic and Electronics.

Full company description

PT Asiaplast Industries Tbk manufactures and sells plastic sheets in Indonesia. It operates through two segments: Plastic and Electronics. The company manufactures and sells plastic products for building materials and packaging; household equipment and appliances made of plastic; technical and industrial plastic goods and equipment; and other plastic products. PT Asiaplast Industries Tbk was formerly known as PT Akasa Pandukarya. The company was incorporated in 1992 and is headquartered in Tangerang, Indonesia. PT Asiaplast Industries Tbk is a subsidiary of PT Maco Amangraha.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Asiaplast Industries Tbk reported revenue of 300B IDR in FY2025 versus 421B IDR in FY2021, a compound −8.1%/yr. Reported net income was 5.6B IDR in FY2025, compounding −29.8%/yr from FY2021.

Growth Quality 33/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
300B IDR
Latest YoY
−24.8%
Avg. growth/yr (3Y) 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.
−17.1%
Avg. growth/yr (5Y) 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.
−1.6%
Avg. growth/yr (25Y) 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.
+3.1%
Revenue −8.1%/yr
FY21 421B IDR
FY22 527B IDR
FY23 469B IDR
FY24 400B IDR
FY25 300B IDR
Net income −29.8%/yr
FY21 23.2B IDR
FY22 46.6B IDR
FY23 50.4B IDR
FY24 17.0B IDR
FY25 5.6B IDR
Character of growth · EPS growth decomposed (2014-2025) +12.9 % p.a.
Revenue per share +4.7 pp

of which total revenue +4.4 pp · buybacks/dilution +0.2 pp

EBIT margin +10.0 pp
Tax rate +0.9 pp
Residual (interest, one-offs) −2.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

APLI screens 73% overvalued. Compare with Stora Enso Oyj →

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Cite: Fair Value Calculator (2026). "PT Asiaplast Industries Tbk Fair Value". https://www.fairvalue-calculator.com/stock/APLI

Peer Group

Packaging & Containers · 272 stocks

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.

Quality Score 51 · Below median
Fair Value upside −73% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets -0% · Bottom 25%
Net margin (TTM) 2% · Below median
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -3% · Below median
Dividend yield (TTM) 17.9% · Top 25%
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/E (TTM) 57.7× · Pricier than 75% of peers
P/B 0.96× · Cheaper than median
P/S (TTM) 1.13× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 9.7× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 9
FUTURE 0 · sector 1
PAST 7 · sector 21
HEALTH 94 · sector 92
DIVIDEND 100 · sector 42

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
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ShenZhen YUTO Packaging Technology Co 002831 ¥29.10 ¥20.88 -28%
SCG Packaging Public Company SCGP 29.00 THB 16.12 THB -44%
AblePrint Technology Co 7734 2,850 TWD 661.69 TWD -77%
PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,194 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 132.50 TWD 127.06 TWD -4%
Time Technoplast Limited TIMETECHNO ₹206.82 ₹161.42 -22%
EPL Limited 500135 ₹222.25 ₹111.65 -50%
Ton Yi Industrial Corp 9907 15.15 TWD 23.17 TWD +53%
Dongwon Systems Corporation 014820 19,330 KRW 31,473 KRW +63%

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Frequently asked questions

Is PT Asiaplast Industries Tbk (APLI) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 70.30 IDR versus a price of 258.00 IDR, about −73% (overvalued).
What is the fair value of APLI?
Our model-based fair value for PT Asiaplast Industries Tbk is 70.30 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 258.00 IDR.
What is the quality score of APLI?
PT Asiaplast Industries Tbk has a Quality Score of 51/100. 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 revenue of PT Asiaplast Industries Tbk (APLI)?
PT Asiaplast Industries Tbk reported trailing-twelve-month revenue of about 298B IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of APLI?
The net profit margin of PT Asiaplast Industries Tbk is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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