PT Benteng Api Technic Tbk (BATR) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of PT Benteng Api Technic Tbk IDR 103, price IDR 93, upside +11.2%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Benteng Api Technic Tbk engages in manufacturing, trading, engineering, and construction business in Indonesia. The company manufactures and sells bricks, refractory cement, and refractory materials, as well as fire clay bricks, high alumina brick, refractory mortar, refractory castable, gunning castable, and others.
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PT Benteng Api Technic Tbk engages in manufacturing, trading, engineering, and construction business in Indonesia. The company manufactures and sells bricks, refractory cement, and refractory materials, as well as fire clay bricks, high alumina brick, refractory mortar, refractory castable, gunning castable, and others. It also provides refractory, insulation, mechanical, fire brick installation; and refractory casting, ramming, and gunning works. The company serves iron and steel, aluminum and copper smelting, petrochemical and fertilizer, oil and gas, power generation, cement and lime, paper processing, food, palm oil/CPO, and other industries. PT Benteng Api Technic Tbk was founded in 1997 and is based in Surabaya, Indonesia.
Stock analysis
PT Benteng Api Technic Tbk (BATR) currently trades at 93.00 IDR, while our model-based Fair Value estimate is 103.40 IDR, implying the stock looks roughly 10.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 102.13 IDR per share, and 11 of the 26 models we run sit above the 93.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 21.49 IDR, and 15 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 77.55 IDR (bear) to 129.25 IDR (bull), the price of 93.00 IDR sits inside 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 44/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
PT Benteng Api Technic Tbk reported revenue of 145B IDR in FY2025 versus 81.4B IDR in FY2021, a compound +15.6%/yr. Reported net income was 13.1B IDR in FY2025, compounding +41.4%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 281B IDR (≈ $28.1M) · P/S ratio 1.73 · Dividend yield 1.6% · Net margin 9.0% · Return on equity 8.9% · Return on assets (EBIT) 12.1% · Operating margin 12.3% · Revenue (TTM) 151B IDR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 29% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 11%, BATR screens cheaper than that median.
Fair Value models
Bear 77.55 IDRFair Value 103.40 IDRBull 129.25 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.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.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+35.4%
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.
+3.4%
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.
+13.5%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
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.
−46.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−47.7%
Dividend (yield on the price)1.6%
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.9% → 14%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
+6.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about +3.9% a year for the price.
Compare PT Benteng Api Technic 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.Building Materials · 258 stocks
Beats the industry median on 8/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+10% · Above median
Profitability
Return on equity (TTM)9% · Above median
Return on assets5% · Top 25%
Net margin (TTM)9% · Above median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth26% · Top 25%
Dividend yield (TTM)1.6% · Below median
Balance sheet
Debt / equity0.16× · Below median
Valuation Multiplesvs Building Materials median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "PT Benteng Api Technic Tbk Fair Value". https://www.fairvalue-calculator.com/stock/BATR
Frequently asked questions
Is PT Benteng Api Technic Tbk (BATR) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 103.40 IDR versus a price of 93.00 IDR, about +11% upside (undervalued).
What is the fair value of BATR?
Our model-based fair value for PT Benteng Api Technic Tbk is 103.40 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 93.00 IDR.
What is the quality score of BATR?
PT Benteng Api Technic Tbk has a Quality Score of 44/100. 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 PT Benteng Api Technic Tbk (BATR)?
Our model-based price target is the fair value of 103.40 IDR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 77.55 IDR, optimistic scenario 129.25 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the PT Benteng Api Technic Tbk stock forecast for 2026?
Our models put fair value at 103.40 IDR, about +11% upside versus a price of 93.00 IDR (undervalued). Cautious scenario 77.55 IDR, optimistic scenario 129.25 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of PT Benteng Api Technic Tbk (BATR)?
PT Benteng Api Technic Tbk reported trailing-twelve-month revenue of about 151B IDR (latest available figure, as of Sep 24, 2026).
Does PT Benteng Api Technic Tbk pay a dividend?
PT Benteng Api Technic Tbk currently shows a dividend yield of about 1.61% relative to its recent price (as of Sep 24, 2026).
What growth is priced into PT Benteng Api Technic Tbk (BATR)?
For today's price to be fair in a discounted-cash-flow model, PT Benteng Api Technic Tbk would have to grow free cash flow by +6.6 % per year for five years (discount rate 10.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BATR use?
Our models discount PT Benteng Api Technic Tbk at 10.8 %: a base by market capitalisation (nano), damped by beta 0.60, 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 PT Benteng Api Technic Tbk that is +6.6 % per year a year over ten years, using the same discount rate (10.8 %) and the same formula as our fair value.
How much growth has PT Benteng Api Technic Tbk (BATR) delivered so far?
Over the past 5 years revenue at PT Benteng Api Technic Tbk grew +13.5 % a year. The price currently implies +6.6 % 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 PT Benteng Api Technic Tbk (BATR) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into PT Benteng Api Technic Tbk (+6.6 % 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 PT Benteng Api Technic Tbk (BATR)?
The free-cash-flow yield on the price is 6.45 %: that much free cash flow PT Benteng Api Technic Tbk produces per unit of market value. When it exceeds the discount rate of our models (10.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PT Benteng Api Technic Tbk (BATR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PT Benteng Api Technic Tbk it is 103.40 IDR per share (as of Sep 24, 2026), against a price of 93.00 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is PT Benteng Api Technic Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BATR trades below its calculated fair value: price 93.00 IDR, fair value 103.40 IDR, a gap of about +11% (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 BATR?
No. The price is what the market pays today (93.00 IDR); the fair value is what the company's own numbers justify (103.40 IDR). For PT Benteng Api Technic Tbk the two are 10.40 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is PT Benteng Api Technic Tbk worth?
The market values PT Benteng Api Technic Tbk at about 281B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 93.00 IDR; our models calculate a fair value of 103.40 IDR per share.
What do the bullish and bearish scenarios say about BATR?
Our models span a range for PT Benteng Api Technic Tbk: cautious scenario 77.55 IDR, base 103.40 IDR, optimistic 129.25 IDR per share (as of Sep 24, 2026, price 93.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PT Benteng Api Technic Tbk (BATR)?
Balance-sheet figures for PT Benteng Api Technic Tbk (as of Sep 24, 2026): return on equity 8.9%, debt of 0.16 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is BATR from its 52-week high?
PT Benteng Api Technic Tbk trades at 93.00 IDR, about 24% below its 52-week high of 122.13 IDR and 29% above the low of 72.30 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 103.40 IDR is for.
Which stocks are comparable to PT Benteng Api Technic Tbk?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, 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 PT Benteng Api Technic Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 93.00 IDR, calculated fair value 103.40 IDR (+11%), Quality Score 44/100, from 26 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 BATR calculated?
We run PT Benteng Api Technic Tbk through 26 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 103.40 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 13.2 % above its aggregate fair value. PT Benteng Api Technic Tbk currently trades 11 % 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 is the share price of PT Benteng Api Technic Tbk (BATR)?
The closing price on Sep 24, 2026 was 93.00 IDR. Our model-based fair value is 103.40 IDR, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PT Benteng Api Technic Tbk right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of PT Benteng Api Technic Tbk
How large is the market capitalisation of PT Benteng Api Technic Tbk (BATR)?
The market capitalisation of PT Benteng Api Technic Tbk is 281B IDR (≈ $28.1M). 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 PT Benteng Api Technic Tbk (BATR)?
The price-to-sales ratio of PT Benteng Api Technic Tbk is 1.73 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of PT Benteng Api Technic Tbk (BATR)?
The dividend yield of PT Benteng Api Technic Tbk is 1.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PT Benteng Api Technic Tbk (BATR)?
The net margin of PT Benteng Api Technic Tbk is 9.0% (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 PT Benteng Api Technic Tbk (BATR)?
The return on equity (ROE) of PT Benteng Api Technic Tbk is 8.9% (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 PT Benteng Api Technic Tbk (BATR)?
On an EBIT basis the return on assets of PT Benteng Api Technic Tbk is 12.1% (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 PT Benteng Api Technic Tbk (BATR)?
The operating margin of PT Benteng Api Technic Tbk is 12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PT Benteng Api Technic Tbk (BATR)?
Revenue at PT Benteng Api Technic Tbk is growing +25.7% versus a year earlier (3y avg +3.4%). 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 PT Benteng Api Technic Tbk (BATR)?
Earnings per share at PT Benteng Api Technic Tbk are growing +19.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does PT Benteng Api Technic Tbk (BATR) carry?
The net debt of PT Benteng Api Technic Tbk is 5.1B IDR (fiscal year 2025, ≈ 0.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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