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PT Astra Graphia Tbk (ASGR) Fair Value & Analysis

Industrials · ID · Market cap 2.4T IDR

PA PT Astra Graphia Tbk ASGR · JK
Price1,790 IDR
Fair Value4,213 IDR
Upside+135.4%
Quality72/100
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Weak Growth
Thin margins · 9.7% net margin
Low debt · generates free cash flow
13.39% dividend yield
Ranks above peers (14/14)
Moderate moat 52/100
Evidence: High Range 3,160 IDR – 5,267 IDR Share as image

Fair value as of: Jul 15, 2026

From 23 valuation models · updated 26 days ago

Share price −0.6% over the past month.

A solid business, screening 135% undervalued on our models.

What matters now

  • The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (3,160 IDR). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

1,940 IDR 479.90 IDR Fair Value 4,213 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 479.90 IDR – 1,940 IDR · fair‑value band 3,160 IDR – 5,267 IDR · the 1,790 IDR price screens below the 4,213 IDR fair value. Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

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Analysis

PT Astra Graphia Tbk (ASGR) currently trades at 1,790 IDR, while our model-based Fair Value estimate is 4,213 IDR, implying the stock looks roughly 135.4% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, PT Astra Graphia Tbk generated revenue of 3.0T IDR at a net margin of 9.7%. Revenue grew 5.3% year over year. It earns a return on equity of 14.2%. The balance sheet holds a net cash position of 1.8T IDR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 3,160 IDR (bear case) to 5,267 IDR (bull case); at 1,790 IDR, the current price sits below 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 near its 52-week high and 143% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 135%, ASGR screens cheaper 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 4,521 IDR 5,994 IDR 8,151 IDR 80
Residual Income 1,495 IDR 1,864 IDR 4,398 IDR 76
Rev-Margin DCF 3,611 IDR 4,721 IDR 5,954 IDR 74
All 23 models by family
DCF Models
FCF DCF 4,433 IDR 6,037 IDR 8,506 IDR 38
Owner Earnings 5,151 IDR 7,130 IDR 10,179 IDR 31
5Y Revenue Exit 3,611 IDR 4,688 IDR 6,015 IDR 39
5Y EBITDA Exit 4,410 IDR 6,138 IDR 8,095 IDR 41
5Y P/E Exit 4,251 IDR 5,850 IDR 7,470 IDR 38
10Y Revenue Exit 3,817 IDR 4,864 IDR 6,174 IDR 36
10Y EBITDA Exit 4,391 IDR 5,877 IDR 7,754 IDR 37
10Y P/E Exit 4,289 IDR 5,676 IDR 7,279 IDR 35
Earnings-Based
Graham-Dodd 1,364 IDR 3,618 IDR 4,728 IDR 54
PEG = 1.0 698.02 IDR 997.17 IDR 1,296 IDR 46
EPV 2,951 IDR 3,230 IDR 3,478 IDR 59
Multiples
P/E Multiple 3,160 IDR 4,213 IDR 5,267 IDR 63
P/S Multiple 2,558 IDR 3,411 IDR 4,264 IDR 58
P/B Multiple 2,558 IDR 3,411 IDR 4,264 IDR 55
EV/EBIT 4,057 IDR 4,954 IDR 5,850 IDR 53
EV/EBITDA 4,802 IDR 5,947 IDR 7,092 IDR 54
EV/Revenue 3,288 IDR 4,110 IDR 4,932 IDR 43
Asset-Based
NCAV (Graham) 775.56 IDR 1,039 IDR 1,551 IDR 50
Growth DCF
Growth DCF 4,521 IDR 5,994 IDR 8,151 IDR 80
Rev-Margin DCF 3,611 IDR 4,721 IDR 5,954 IDR 74
Economic Profit
Residual Income 1,495 IDR 1,864 IDR 4,398 IDR 76
ROIC Compounder 2,988 IDR 3,318 IDR 3,644 IDR 72
Growth Earnings
Growth-Adj P/E 2,479 IDR 3,542 IDR 4,604 IDR 68

Widest divergence: DCF Models (5,850 IDR) versus Asset-Based (1,039 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.0T IDR
Revenue growth (YoY) +5.3%
Net margin 9.7%
Return on equity 14.2%
Free cash flow 359B IDR FY2025
P/E ratio 8.3
More key figures
Operating margin 9.1%
EPS (TTM) 217.26 IDR
Dividend yield 13.4%
EPS growth (YoY) +47.5%
Net cash 1.8T IDR FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 72 · Market factors (momentum, volatility) 77

Profitability 53
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 75
Price trend over the last 3–12 months (market factor)
52W Momentum 95
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 Astra Graphia Tbk engages in the trading, industrial, consulting, office equipment and supplies contracting, information technology, telecommunication, professional, scientific and technical, and investment businesses in Indonesia. It operates through Document Solution and Information Technology Solution segments.

Full company description

PT Astra Graphia Tbk engages in the trading, industrial, consulting, office equipment and supplies contracting, information technology, telecommunication, professional, scientific and technical, and investment businesses in Indonesia. It operates through Document Solution and Information Technology Solution segments. The company offers intelligent document management solutions comprising multi-function devices, single function and multi-function laser printers, and consumables for print management, workflow management, data capture, enterprise content management, intelligent document processing, cloud-based solutions, and document management systems; managed print, document outsourcing and communication services, and business process services; and printing technology solutions, including end-to-end print production management software, heavy-duty digital laser and inkjet printers, and finishing solutions. It also engages in hardware and software sales; information technology and digital platform infrastructure development; and application development activities. In addition, the company provides managed services, such as data center and cloud collaboration; IT implementation and operation, cybersecurity, and cloud services; myveego, an IoT Services application; myZ, a data integration and analytics solution; and mysights, a mobile and business application. Further, it offers online and offline procurement services; printing solutions and various printed products; and contracting and engineering work services, as well as distributes 3D printer products. The company serves small enterprises and large corporations. The company was founded in 1971 and is headquartered in Jakarta, Indonesia. PT Astra Graphia Tbk is a subsidiary of PT Astra International Tbk.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Astra Graphia Tbk reported revenue of 3.0T IDR in FY2025 versus 3.3T IDR in FY2021, a compound −2.4%/yr. Reported net income was 271B IDR in FY2025, compounding +32.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.0T IDR
Latest YoY
+6.3%
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.
+0.9%
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.
−2.2%
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.
+6.4%
Revenue −2.4%/yr
FY21 3.3T IDR
FY22 2.9T IDR
FY23 3.0T IDR
FY24 2.8T IDR
FY25 3.0T IDR
Net income +32.7%/yr
FY21 87.3B IDR
FY22 97.1B IDR
FY23 141B IDR
FY24 205B IDR
FY25 271B IDR
Character of growth · EPS growth decomposed (2014-2025) −2.6 % p.a.
Revenue per share +1.5 pp

of which total revenue +1.5 pp · buybacks/dilution +0.0 pp

EBIT margin −5.5 pp
Tax rate +0.1 pp
Residual (interest, one-offs) +1.3 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).

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Cite: Fair Value Calculator (2026). "PT Astra Graphia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/ASGR

Peer Group

Specialty Business Services · 253 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 72 · Top 25%
Fair Value upside +135% · Top 25%
Return on equity (TTM) 14% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 5% · Above median
Dividend yield (TTM) 13.4% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 8.3× · Cheaper than 75% of peers
P/B 1.17× · Cheaper than median
P/S (TTM) 0.81× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 1.3× · Cheaper than 75% of peers

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 100 · sector 24
FUTURE 27 · sector 27
PAST 57 · sector 33
HEALTH 100 · sector 92
DIVIDEND 100 · sector 54

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

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Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is PT Astra Graphia Tbk (ASGR) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 4,213 IDR versus a price of 1,790 IDR, about +135% (undervalued).
What is the fair value of ASGR?
Our model-based fair value for PT Astra Graphia Tbk is 4,213 IDR (as of Jul 15, 2026), built from audited fundamentals. The current price is 1,790 IDR.
What is the quality score of ASGR?
PT Astra Graphia Tbk has a Quality Score of 72/100. 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 Astra Graphia Tbk (ASGR)?
PT Astra Graphia Tbk reported trailing-twelve-month revenue of about 3.0T IDR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of ASGR?
The net profit margin of PT Astra Graphia Tbk is about 9.7%, meaning it keeps roughly 9.7% 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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