PT Formosa Ingredient Factory Tbk (BOBA) Fair Value & Analysis
Consumer Defensive · ID · Market cap 277B IDR
Fair value as of: Jul 20, 2026
From 24 valuation models · updated 21 days ago
Share price −15.1% over the past month.
A solid business, screening 42% undervalued on our models.
What matters now
- Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (191.10 IDR to 379.05 IDR) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
57‑month range 122.02 IDR – 358.00 IDR · fair‑value band 191.10 IDR – 379.05 IDR · the 214.00 IDR price screens below the 303.24 IDR fair value. Dashed = 300-day average. As of Jul 20, 2026.
Analysis
PT Formosa Ingredient Factory Tbk (BOBA) currently trades at 214.00 IDR, while our model-based Fair Value estimate is 303.24 IDR, implying the stock looks roughly 41.7% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Defensive 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 Formosa Ingredient Factory Tbk generated revenue of 178B IDR at a net margin of 11.2%. Revenue grew 27.7% year over year. It earns a return on equity of 11.9%. The balance sheet holds a net cash position of 10.6B IDR. Fundamentals as of Jul 20, 2026
Our scenario range runs from 191.10 IDR (bear case) to 379.05 IDR (bull case); at 214.00 IDR, the current price sits within 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 37% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 42%, BOBA 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.
All 24 models by family
Widest divergence: Growth Earnings (661.05 IDR) versus Asset-Based (97.12 IDR). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 44
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 Formosa Ingredient Factory Tbk produces and sells beverage ingredients in Indonesia and internationally. The company offers tapioca pearls, jellies, jams, sauces, syrup, powder, and popping boba under the Bobaking brand name. It sells its products to restaurants, local coffee shops, international chain stores, and premium modern markets and retail.
Full company description
PT Formosa Ingredient Factory Tbk produces and sells beverage ingredients in Indonesia and internationally. The company offers tapioca pearls, jellies, jams, sauces, syrup, powder, and popping boba under the Bobaking brand name. It sells its products to restaurants, local coffee shops, international chain stores, and premium modern markets and retail. The company was founded in 2016 and is headquartered in Tangerang, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Formosa Ingredient Factory Tbk reported revenue of 168B IDR in FY2025 versus 74.2B IDR in FY2021, a compound +22.6%/yr. Reported net income was 16.7B IDR in FY2025, compounding −1.1%/yr from FY2021.
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Peer Group
Packaged Foods · 648 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.
Valuation Multiples vs Packaged Foods median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nestlé India Limited NESTLEIND | ₹1,427 | ₹362.37 | -75% |
| Britannia Industries Limited BRITANNIA | ₹5,413 | ₹1,870 | -65% |
| Tata Consumer Products Limited TATACONSUM | ₹1,089 | ₹327.27 | -70% |
| PT Indofood CBP Sukses Makmur Tbk ICBP | 6,650 IDR | 15,757 IDR | +137% |
| Samyang Foods Co 003230 | 1,139,000 KRW | 1,010,543 KRW | -11% |
| Patanjali Foods Limited PATANJALI | ₹413.80 | ₹157.04 | -62% |
| Vietnam Dairy Products Joint Stock Company VNM | 58,500 VND | 68,259 VND | +17% |
| PT Mayora Indah Tbk, MYOR | 1,750 IDR | 2,699 IDR | +54% |
| PT Cisarua Mountain Dairy Tbk CMRY | 4,490 IDR | 4,355 IDR | -3% |
| Nongshim Co 004370 | 348,500 KRW | 530,619 KRW | +52% |
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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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