Indo Kordsa Tbk (BRAM) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Indo Kordsa Tbk IDR 1,050, price IDR 4,680, upside -77.6%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 3,361 IDR – 10,227 IDR · fair‑value band 976.06 IDR – 1,124 IDR · the 4,680 IDR price screens above the 1,050 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 Sep 24, 2026.
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PT Indo Kordsa Tbk engages in the manufacture, marketing, and sale of tire cord fabrics, yarn filaments, nylon tire cord, and raw materials of polyester. The company operates through Tire Cord Fabric, Nylon Yarn, and Polyester Yarn segments. It also offers nylon, polyester, and rayon fibers.
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PT Indo Kordsa Tbk engages in the manufacture, marketing, and sale of tire cord fabrics, yarn filaments, nylon tire cord, and raw materials of polyester. The company operates through Tire Cord Fabric, Nylon Yarn, and Polyester Yarn segments. It also offers nylon, polyester, and rayon fibers. The company sells its products in Indonesia, Thailand, the United States, Japan, South Korea, Brazil, Turkey, India, China, and internationally. The company was formerly known as PT Branta Mulia Tbk and changed its name to PT Indo Kordsa Tbk in 2006. The company was founded in 1981 and is headquartered in Bogor, Indonesia. PT Indo Kordsa Tbk is a subsidiary of Kordsa Teknik Tekstil A.S.
Stock analysis
Indo Kordsa Tbk (BRAM) currently trades at 4,680 IDR, while our model-based Fair Value estimate is 1,050 IDR, implying the stock looks roughly 345.8% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 5,599 IDR per share, and 6 of the 13 models we run sit above the 4,680 IDR price.
Bear case: the Earnings-Based group reads lowest at 874.90 IDR, and 7 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 976.06 IDR (bear) to 1,124 IDR (bull), the price of 4,680 IDR sits above 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 49/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Indo Kordsa Tbk reported revenue of $123M in FY2025 versus $260M in FY2021, a compound −17.1%/yr. Reported net income was −$2.3M in FY2025.
Key figures
Market cap 2.1T IDR (≈ $118M) · P/E ratio 137.1 · EPS (TTM) 34.13 IDR · Net margin −1.9% · Return on equity 0.9% · Return on assets (EBIT) 8.7% · Operating margin 5.2% · Revenue (TTM) $119M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 16% 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 −78%, BRAM screens richer than that median.
Fair Value models
Bear 976.06 IDRFair Value 1,050 IDRBull 1,124 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (24.97 IDR per share) are deliberately not added.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.37/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−46.8%
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.
−28.5%
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.
−6.1%
Start year 2020 (pandemic). Over 10 years: −5.1% a year
Revenue growth 25 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.
−30.8%
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Profit margin (trend) ⓘ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.
−2.4% (2020) → 0.3% (2025)
What shareholders gained per year ⓘ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
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+11.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +9.1% a year for the price.
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.Textile Manufacturing · 344 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−78% · Bottom 25%
Profitability
Return on equity (TTM)1% · Below median
Return on assets0% · Bottom 25%
Net margin (TTM)1% · Below median
Operating margin (TTM)5% · Above median
Growth and dividend
Revenue growth−12% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
P/E (TTM)137.1× · Priciest 25%
P/B0.99× · Cheaper than median
P/S (TTM)1.77× · Priciest 25%
P/FCF14.1× · Priciest 25%
EV/EBITDA24.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)0· sector 0
PAST (return on equity)4· sector 15
HEALTH (low debt)100· sector 95
DIVIDEND (yield)0· sector 37
VALUE 0: the price sits above our fair-value range.
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.
Is Indo Kordsa Tbk (BRAM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,050 IDR versus a price of 4,680 IDR, about −78% upside (overvalued).
What is the fair value of BRAM?
Our model-based fair value for Indo Kordsa Tbk is 1,050 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 4,680 IDR.
What is the quality score of BRAM?
Indo Kordsa Tbk has a Quality Score of 49/100. 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 Indo Kordsa Tbk (BRAM)?
Our model-based price target is the fair value of 1,050 IDR (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 976.06 IDR, optimistic scenario 1,124 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Indo Kordsa Tbk stock forecast for 2026?
Our models put fair value at 1,050 IDR, about −78% upside versus a price of 4,680 IDR (overvalued). Cautious scenario 976.06 IDR, optimistic scenario 1,124 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Indo Kordsa Tbk (BRAM)?
Indo Kordsa Tbk reported trailing-twelve-month revenue of about $119M (latest available figure, as of Sep 24, 2026).
What growth is priced into Indo Kordsa Tbk (BRAM)?
For today's price to be fair in a discounted-cash-flow model, Indo Kordsa Tbk would have to grow free cash flow by +11.7 % per year for five years (discount rate 15.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BRAM use?
Our models discount Indo Kordsa Tbk at 15.0 %: a base by market capitalisation (micro), 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 Indo Kordsa Tbk that is +11.7 % per year a year over ten years, using the same discount rate (15.0 %) and the same formula as our fair value.
How much growth has Indo Kordsa Tbk (BRAM) delivered so far?
Over the past 5 years revenue at Indo Kordsa Tbk grew -6.1 % a year. The price currently implies +11.7 % 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 Indo Kordsa Tbk (BRAM) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Indo Kordsa Tbk (+11.7 % 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 Indo Kordsa Tbk (BRAM)?
The free-cash-flow yield on the price is 7.12 %: that much free cash flow Indo Kordsa Tbk produces per unit of market value. When it exceeds the discount rate of our models (15.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Indo Kordsa Tbk (BRAM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indo Kordsa Tbk it is 1,050 IDR per share (as of Sep 24, 2026), against a price of 4,680 IDR. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Indo Kordsa Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BRAM trades above its calculated fair value: price 4,680 IDR, fair value 1,050 IDR, a gap of about −78% (overvalued). 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 BRAM?
No. The price is what the market pays today (4,680 IDR); the fair value is what the company's own numbers justify (1,050 IDR). For Indo Kordsa Tbk the two are 3,630 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Indo Kordsa Tbk worth?
The market values Indo Kordsa Tbk at about 2.1T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 4,680 IDR; our models calculate a fair value of 1,050 IDR per share.
What do the bullish and bearish scenarios say about BRAM?
Our models span a range for Indo Kordsa Tbk: cautious scenario 976.06 IDR, base 1,050 IDR, optimistic 1,124 IDR per share (as of Sep 24, 2026, price 4,680 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BRAM?
Indo Kordsa Tbk trades at a price-to-earnings ratio of 137.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,050 IDR is built from several models across several years. Other multiples: P/B 1.0, P/S 1.8, EV/EBITDA 24.6.
How solid is the balance sheet of Indo Kordsa Tbk (BRAM)?
Balance-sheet figures for Indo Kordsa Tbk (as of Sep 24, 2026): return on equity 0.9%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is BRAM from its 52-week high?
Indo Kordsa Tbk trades at 4,680 IDR, about 7% below its 52-week high of 5,026 IDR and 16% above the low of 4,050 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,050 IDR is for.
Which stocks are comparable to Indo Kordsa Tbk?
From the same area (Consumer Cyclical) we also value Shenzhou International Group, Tongkun Group, Inner Mongolia ERDOS Resources Co, K.P.R. Mill 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 Indo Kordsa Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 4,680 IDR, calculated fair value 1,050 IDR (−78%), Quality Score 49/100, from 13 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 BRAM calculated?
We run Indo Kordsa Tbk through 13 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 1,050 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 13.0 % above its aggregate fair value. Indo Kordsa Tbk itself currently trades above fair value. 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 Indo Kordsa Tbk (BRAM)?
The closing price on Sep 23, 2026 was 4,680 IDR. Our model-based fair value is 1,050 IDR, about −78% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indo Kordsa Tbk right now?
The price sits above even our optimistic bull case (1,124 IDR). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Indo Kordsa Tbk (BRAM) come from?
Earnings per share at Indo Kordsa Tbk grew −0.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.5 %, EBIT margin −3.8 %, tax rate −0.2 %, residual (interest, one-offs) +1.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Indo Kordsa Tbk
How large is the market capitalisation of Indo Kordsa Tbk (BRAM)?
The market capitalisation of Indo Kordsa Tbk is 2.1T IDR (≈ $118M). 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 are the earnings per share of Indo Kordsa Tbk (BRAM)?
Earnings per share at Indo Kordsa Tbk are 34.13 IDR (price ÷ EPS = P/E 137.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Indo Kordsa Tbk (BRAM)?
The net margin of Indo Kordsa Tbk is −1.9% (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 Indo Kordsa Tbk (BRAM)?
The return on equity (ROE) of Indo Kordsa Tbk is 0.9% (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 Indo Kordsa Tbk (BRAM)?
On an EBIT basis the return on assets of Indo Kordsa Tbk is 8.7% (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 Indo Kordsa Tbk (BRAM)?
The operating margin of Indo Kordsa Tbk is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indo Kordsa Tbk (BRAM)?
Revenue at Indo Kordsa Tbk is growing −11.9% versus a year earlier (3y avg −28.5%). 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 Indo Kordsa Tbk (BRAM)?
Earnings per share at Indo Kordsa Tbk are growing +127% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Indo Kordsa Tbk (BRAM) hold?
Indo Kordsa Tbk holds more cash than debt, $19.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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