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Primarindo Asia Infrastructure Tbk PT (BIMA) Fair Value & Analysis

Consumer Cyclical · ID · Market cap 49.9B IDR (≈ $5.0M) · ISIN ID1000075005

PA Primarindo Asia Infrastructure Tbk PT BIMA · JK
Price82.00 IDR
Fair Value39.89 IDR
Upside-51.4%
Quality41/100
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Risks

!Trades 106% ABOVE our fair value of 39.89 IDR
!Expensive Growth (revenue 5y +13.7 %/yr)
!Loss-making · -21.8% net margin
!Low debt · negative free cash flow
Expensive Growth (revenue 5y +13.7 %/yr)
Loss-making · -21.8% net margin
Low debt · negative free cash flow
Trails peers (1/8)
Narrow moat 11/100
Evidence: Low Range 29.77 IDR – 59.54 IDR Share as image

Fair value as of: Aug 26, 2026

From 1 valuation models · updated 2 days ago

Below-average quality, and trading another 106% above our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price sits above even our optimistic bull case (59.54 IDR). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (29.77 IDR to 59.54 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

354.00 IDR 35.00 IDR Fair Value 39.89 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.

How to read this chart

60‑month range 35.00 IDR – 354.00 IDR · fair‑value band 29.77 IDR – 59.54 IDR · the 82.00 IDR price screens above the 39.89 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 26, 2026.

Full chart & analysis →

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Analysis

Primarindo Asia Infrastructure Tbk PT (BIMA) currently trades at 82.00 IDR, while our model-based Fair Value estimate is 39.89 IDR, implying the stock looks roughly 51.4% overvalued today. The Quality Score stands at 41/100 (below-average 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: low).

Over the trailing twelve months, Primarindo Asia Infrastructure Tbk PT generated revenue of 105B IDR at a net margin of -21.8%. Revenue declined 16.2% year over year. It earns a return on equity of -50.8%. Net debt stands at 38.9B IDR. Fundamentals as of Aug 26, 2026

Our scenario range runs from 29.77 IDR (bear case) to 59.54 IDR (bull case); at 82.00 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 7% below its 52-week high and 100% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 21% fair-value upside, at -51%, BIMA 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
NCAV (Graham) 31.44 IDR 42.13 IDR 62.87 IDR 50
All 1 models by family
Asset-Based
NCAV (Graham) 31.44 IDR 42.13 IDR 62.87 IDR 50

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Key figures & financial health

P/S ratio 0.47 TTM
EPS (TTM) -33.32 IDR
Net margin -22.7% FY2025
Return on equity -50.8% TTM
Return on assets (EBIT) -3.0% avg 5y
Operating margin -31.6% TTM
More key figures
Growth
Revenue (TTM) 105B IDR TTM
Revenue growth (YoY) -16.2% 3y avg -1.7%
EPS growth (YoY) +60.8%
Balance sheet & cash flow
Free cash flow −326M IDR FY2025
Net debt 38.9B IDR FY2025

Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 37 · Market factors (momentum, volatility) 73

Profitability 7
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 93
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT. Primarindo Asia Infrastructure, Tbk. engages in the production and marketing of sports and casual shoes under the Tomkins brand name in Indonesia and internationally. It operates through two segments, Production and Sales of Shoes. The company also offers leather and artificial leather goods.

Full company description

PT. Primarindo Asia Infrastructure, Tbk. engages in the production and marketing of sports and casual shoes under the Tomkins brand name in Indonesia and internationally. It operates through two segments, Production and Sales of Shoes. The company also offers leather and artificial leather goods. In addition, it wholesales and retails shoes, sandals, and other footwear; wholesales furry leather goods; and used goods and scrap; and retails clothing accessories. Further, the company engages in the retail of bags, wallets, luggage, backpacks which are made of leather, artificial leather etc., and textiles, clothing, footwear, and personal goods through online. It markets its products through department stores. The company was formerly known as PT Bintang Kharisma Tbk and changed its name to PT Primarindo Asia Infrastructure Tbk. in 1997. The company was founded in 1988 and is headquartered in Jakarta, Indonesia. PT. Primarindo Asia Infrastructure, Tbk. operates as a subsidiary of PT. Golden Lestari.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Primarindo Asia Infrastructure Tbk PT reported revenue of 108B IDR in FY2025 versus 41.8B IDR in FY2021, a compound +26.8%/yr. Reported net income was −24.6B IDR in FY2025.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
108B IDR
Latest YoY
+17.0%
Avg. revenue 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.
−1.7%
Avg. revenue 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.
+13.7%
Avg. revenue growth/yr (13Y) 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.
−6.0%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +26.8%/yr
FY21 41.8B IDR
FY22 114B IDR
FY23 91.4B IDR
FY24 92.5B IDR
FY25 108B IDR
Net income
FY21 −20.3B IDR
FY22 −2.4B IDR
FY23 −4.6B IDR
FY24 −14.7B IDR
FY25 −24.6B IDR

BIMA screens 51% overvalued. Compare with NIKE, Inc →

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Cite: Fair Value Calculator (2026). "Primarindo Asia Infrastructure Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/BIMA

Peer Group

Footwear & Accessories · 94 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 37 · Bottom 25%
Fair Value upside −51% · Bottom 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -22% · Bottom 25%
Operating margin (TTM) -32% · Bottom 25%
Revenue growth -16% · Bottom 25%

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 12
FUTURE0 · sector 0
PAST0 · sector 22
HEALTH100 · sector 97
DIVIDEND0 · sector 44

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

Similar stocks

10 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 26, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $38.59 $35.63 -8%
Deckers Outdoor Corporation DECK $89.47 $125.16 +40%
On Holding ONON $31.03 $17.79 -43%
Zhejiang China Commodities City Group 600415 ¥11.81 ¥13.03 +10%
Birkenstock Holding BIRK $36.74 $44.59 +21%
Crocs, Inc CROX $123.64 $203.65 +65%
Huali Industrial Group 300979 ¥34.24 ¥51.36 +50%
PUMA SE PUM €26.02 €10.57 -59%
Steven Madden, Ltd SHOO $47.70 $11.69 -75%
Yue Yuen Industrial (Holdings) Limited 0551 HK$13.65 HK$31.67 +132%

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Frequently asked questions

Is Primarindo Asia Infrastructure Tbk PT (BIMA) overvalued or undervalued?
As of Aug 26, 2026, our model estimates a fair value of 39.89 IDR versus a price of 82.00 IDR, about −51% (overvalued).
What is the fair value of BIMA?
Our model-based fair value for Primarindo Asia Infrastructure Tbk PT is 39.89 IDR (as of Aug 26, 2026), built from audited fundamentals. The current price: 82.00 IDR.
What is the quality score of BIMA?
Primarindo Asia Infrastructure Tbk PT has a Quality Score of 41/100. 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 Primarindo Asia Infrastructure Tbk PT (BIMA)?
Primarindo Asia Infrastructure Tbk PT reported trailing-twelve-month revenue of about 105B IDR (latest available figure, as of Aug 26, 2026).
What is the net profit margin of BIMA?
The net profit margin of Primarindo Asia Infrastructure Tbk PT is about -21.8%, meaning it is currently running at a net loss. 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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