Budi Starch & Sweetener Tbk (BUDI) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Budi Starch & Sweetener Tbk stock IDR 247, price IDR 206, upside +19.8%, quality 42 out of 100. Rating: undervalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 131.55 IDR – 272.57 IDR · fair‑value band 246.72 IDR – 258.07 IDR · the 206.00 IDR price screens below the 246.72 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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PT Budi Starch & Sweetener Tbk, together with its subsidiaries, manufactures and sells tapioca and modified tapioca starch, sweeteners, plastic packaging, sulfuric acid, and other chemicals in Indonesia and internationally.
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The company operates through the Tapioca Starch, Sweeteners, Sulfuric Acid and Other Products, and Plastic Packaging segments. It offers tapioca flour; glucose and fructose; maltodextrin; plastic sacks; and sulfuric acid.
The company was formerly known as PT Budi Acid Jaya Tbk and changed its name to PT Budi Starch & Sweetener Tbk in July 2013. PT Budi Starch & Sweetener Tbk was founded in 1979 and is headquartered in Jakarta Selatan, Indonesia.
Stock analysis
Budi Starch & Sweetener Tbk (BUDI) currently trades at 206.00 IDR, while our model-based Fair Value estimate is 246.72 IDR, implying the stock looks roughly 17% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 418.70 IDR per share, and 10 of the 15 models we run sit above the 206.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 85.12 IDR, and 5 of the 15 models stay below the price. Data coverage for this calculation is low.
Scenario range: 246.72 IDR (bear) to 258.07 IDR (bull), the price of 206.00 IDR sits below 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 42/100 (below-average quality), in the Consumer Defensive sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Budi Starch & Sweetener Tbk reported revenue of 3.2T IDR in FY2025 versus 3.4T IDR in FY2021, a compound −1.5%/yr. Reported net income was 107B IDR in FY2025, compounding +6.4%/yr from FY2021.
Key figures
Market cap 926B IDR (≈ $51.4M) Micro · P/E ratio 5.6 · P/S ratio 0.22 · EPS (TTM) 36.51 IDR · Net margin 3.3% · Return on equity 8.7% · Return on assets (EBIT) 6.6% (5-year average) · Operating margin 8.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (medium confidence).
What moves the price
The share trades about 13% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −1% fair-value upside, at 20%, BUDI screens cheaper than that median.
Fair Value models
Bear246.72 IDRFair Value 246.72 IDRBull258.07 IDR
Price 206.00 IDR · Upside +19.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (31.31 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+5.9%
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.
+5.9%
Revenue growth 24 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.
+7.6%
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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.
+11.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.3%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.3% vs 13.3%, steady
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.7% → 7%
Compare Budi Starch & Sweetener 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.Packaged Foods · 625 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside+17.5% · Above median
Profitability
Return on equity (12 months)8.7% · Above median
Return on assets2.6% · Below median
Net margin (12 months)3.3% · Below median
Operating margin (12 months)8.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)50.6% · Top 25%
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.44× · Highest 25%
Valuation Multiplesvs Packaged Foods median · lower = cheaper
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Is Budi Starch & Sweetener Tbk (BUDI) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 246.72 IDR versus a price of 206.00 IDR, about +20% upside (undervalued).
What is the fair value of BUDI?
Our model-based fair value for Budi Starch & Sweetener Tbk is 246.72 IDR (as of Nov 5, 2026), built from audited fundamentals. The current price: 206.00 IDR.
What is the quality score of BUDI?
Budi Starch & Sweetener Tbk has a Quality Score of 42/100. 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 Budi Starch & Sweetener Tbk (BUDI)?
Our model-based price target is the fair value of 246.72 IDR (as of Nov 5, 2026) from 15 valuation models. Cautious scenario 246.72 IDR, optimistic scenario 258.07 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Budi Starch & Sweetener Tbk stock forecast for 2026?
Our models put fair value at 246.72 IDR, about +20% upside versus a price of 206.00 IDR (undervalued). Cautious scenario 246.72 IDR, optimistic scenario 258.07 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Budi Starch & Sweetener Tbk (BUDI)?
Budi Starch & Sweetener Tbk reported trailing-twelve-month revenue of about 4.3T IDR (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Budi Starch & Sweetener Tbk (BUDI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Budi Starch & Sweetener Tbk it is 246.72 IDR per share (as of Nov 5, 2026), against a price of 206.00 IDR. It is the blended result of 15 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Budi Starch & Sweetener Tbk stock overvalued or undervalued in 2026?
As of Nov 5, 2026, BUDI trades below its calculated fair value: price 206.00 IDR, fair value 246.72 IDR, a gap of about +20% (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 BUDI?
No. The price is what the market pays today (206.00 IDR); the fair value is what the company's own numbers justify (246.72 IDR). For Budi Starch & Sweetener Tbk the two are 40.72 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Budi Starch & Sweetener Tbk worth?
The market values Budi Starch & Sweetener Tbk at about 926B IDR (market capitalisation, as of Nov 5, 2026). Per share that is 206.00 IDR; our models calculate a fair value of 246.72 IDR per share.
What do the bullish and bearish scenarios say about BUDI?
Our models span a range for Budi Starch & Sweetener Tbk: cautious scenario 246.72 IDR, base 246.72 IDR, optimistic 258.07 IDR per share (as of Nov 5, 2026, price 206.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BUDI?
Budi Starch & Sweetener Tbk trades at a price-to-earnings ratio of 5.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 246.72 IDR is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 10.0. Other multiples: P/B 0.6, P/S 0.2, EV/EBITDA 2.8.
How solid is the balance sheet of Budi Starch & Sweetener Tbk (BUDI)?
Balance-sheet figures for Budi Starch & Sweetener Tbk (as of Nov 5, 2026): return on equity 8.7%, debt of 0.44 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is BUDI from its 52-week high?
Budi Starch & Sweetener Tbk trades at 206.00 IDR, about 13% below its 52-week high of 238.00 IDR and 6% above the low of 195.00 IDR (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 246.72 IDR is for.
Which stocks are comparable to Budi Starch & Sweetener Tbk?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, 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 Budi Starch & Sweetener Tbk stock attractive at the current price?
The data as of Nov 5, 2026: price 206.00 IDR, calculated fair value 246.72 IDR (+20%), Quality Score 42/100, from 15 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 BUDI calculated?
We run Budi Starch & Sweetener Tbk through 15 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 246.72 IDR builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Budi Starch & Sweetener Tbk currently trades 17% 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 Budi Starch & Sweetener Tbk (BUDI)?
The closing price on Nov 9, 2026 was 206.00 IDR. Our model-based fair value is 246.72 IDR, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Budi Starch & Sweetener Tbk right now?
The price is below even our cautious bear case (246.72 IDR). The market is more pessimistic than our downside scenario. The models converge in a tight band (246.72 IDR to 258.07 IDR), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Budi Starch & Sweetener Tbk (BUDI) come from?
Earnings per share at Budi Starch & Sweetener Tbk grew +13.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.4 %, EBIT margin +0.6 %, tax rate +4.2 %, residual (interest, one-offs) +3.8 %. 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 Budi Starch & Sweetener Tbk
How large is the market capitalisation of Budi Starch & Sweetener Tbk (BUDI)?
The market capitalisation of Budi Starch & Sweetener Tbk is 926B IDR (≈ $51.4M). 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 Budi Starch & Sweetener Tbk (BUDI)?
The price-to-sales ratio of Budi Starch & Sweetener Tbk is 0.22 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Budi Starch & Sweetener Tbk (BUDI)?
Earnings per share at Budi Starch & Sweetener Tbk are 36.51 IDR (price ÷ EPS = P/E 5.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Budi Starch & Sweetener Tbk (BUDI)?
The net margin of Budi Starch & Sweetener Tbk is 3.3% (last twelve months). 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 Budi Starch & Sweetener Tbk (BUDI)?
The return on equity (ROE) of Budi Starch & Sweetener Tbk is 8.7% (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 Budi Starch & Sweetener Tbk (BUDI)?
On an EBIT basis the return on assets of Budi Starch & Sweetener Tbk is 6.6% (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 Budi Starch & Sweetener Tbk (BUDI)?
The operating margin of Budi Starch & Sweetener Tbk is 8.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Budi Starch & Sweetener Tbk (BUDI)?
Revenue at Budi Starch & Sweetener Tbk is growing +50.6% versus a year earlier (3y avg −2.1%). 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 Budi Starch & Sweetener Tbk (BUDI)?
Earnings per share at Budi Starch & Sweetener Tbk are growing −35.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Budi Starch & Sweetener Tbk (BUDI) generate?
The free cash flow of Budi Starch & Sweetener Tbk is −261B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Budi Starch & Sweetener Tbk (BUDI) carry?
The net debt of Budi Starch & Sweetener Tbk is 1.9T IDR (fiscal year 2025). 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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Nov 5, 2026