Citra Borneo Utama (CBUT) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Citra Borneo Utama IDR 904, price IDR 960, upside -5.8%, quality 55 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
46‑month range 450.00 IDR – 3,850 IDR · fair‑value band 633.12 IDR – 1,176 IDR · the 960.00 IDR price screens above the 904.46 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT Citra Borneo Utama Tbk engages in palm oil refining, and trading activities in Indonesia and internationally. The company offers product and services, such as refined bleached deodorized palm oil, refined bleached deodorized palm olein, refined bleached deodorized palm stearin, palm fatty acid distillate, crude palm kernel oil, and palm kernel expeller.
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PT Citra Borneo Utama Tbk engages in palm oil refining, and trading activities in Indonesia and internationally. The company offers product and services, such as refined bleached deodorized palm oil, refined bleached deodorized palm olein, refined bleached deodorized palm stearin, palm fatty acid distillate, crude palm kernel oil, and palm kernel expeller. The company was founded in 2013 and is headquartered in Pangkalan Bun, Indonesia. PT Citra Borneo Utama Tbk operates as a subsidiary of PT Citra Borneo Indah.
Stock analysis
Citra Borneo Utama (CBUT) currently trades at 960.00 IDR, while our model-based Fair Value estimate is 904.46 IDR, implying the stock looks roughly 6.1% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1,801 IDR per share, and 13 of the 22 models we run sit above the 960.00 IDR price.
Bear case: the Asset-Based group reads lowest at 238.12 IDR, and 9 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 633.12 IDR (bear) to 1,176 IDR (bull), the price of 960.00 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 55/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Citra Borneo Utama reported revenue of 14.0T IDR in FY2025 versus 8.7T IDR in FY2021, a compound +12.7%/yr. Reported net income was 106B IDR in FY2025, compounding −21.9%/yr from FY2021.
Key figures
Market cap 3.0T IDR (≈ $300M) · P/E ratio 27.0 · P/S ratio 0.21 · EPS (TTM) 35.50 IDR · Net margin 0.8% · Return on equity 10.1% · Return on assets (EBIT) 10.3% · Operating margin 2.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 113% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −2% fair-value upside, at −6%, CBUT screens richer than that median.
Fair Value models
Bear 633.12 IDRFair Value 904.46 IDRBull 1,176 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 (26.07 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.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+43.1%
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.
+13.2%
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.
+26.3%
Start year 2020 (pandemic)
Revenue growth 6 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.
+27.2%
’19
’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.
−18.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.0%
Dividend (yield on the price)0.0%
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.−1% → 3%
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).
+35.0%
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 +31.5% 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.Packaged Foods · 667 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−6% · Below median
Profitability
Return on equity (TTM)10% · Above median
Return on assets6% · Above median
Net margin (TTM)1% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth−1% · Below median
Balance sheet
Debt / equity0.50× · Highest 25%
Valuation Multiplesvs Packaged Foods median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Citra Borneo Utama Fair Value". https://www.fairvalue-calculator.com/stock/CBUT
Frequently asked questions
Is Citra Borneo Utama (CBUT) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 904.46 IDR versus a price of 960.00 IDR, about −6% upside (fairly valued).
What is the fair value of CBUT?
Our model-based fair value for Citra Borneo Utama is 904.46 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 960.00 IDR.
What is the quality score of CBUT?
Citra Borneo Utama has a Quality Score of 55/100. 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 Citra Borneo Utama (CBUT)?
Our model-based price target is the fair value of 904.46 IDR (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 633.12 IDR, optimistic scenario 1,176 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Citra Borneo Utama stock forecast for 2026?
Our models put fair value at 904.46 IDR, about −6% upside versus a price of 960.00 IDR (fairly valued). Cautious scenario 633.12 IDR, optimistic scenario 1,176 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Citra Borneo Utama (CBUT)?
Citra Borneo Utama reported trailing-twelve-month revenue of about 14.0T IDR (latest available figure, as of Sep 24, 2026).
What growth is priced into Citra Borneo Utama (CBUT)?
For today's price to be fair in a discounted-cash-flow model, Citra Borneo Utama would have to grow free cash flow by +35.0 % 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 +26.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CBUT use?
Our models discount Citra Borneo Utama 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 Citra Borneo Utama that is +35.0 % 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 Citra Borneo Utama (CBUT) delivered so far?
Over the past 5 years revenue at Citra Borneo Utama grew +26.3 % a year. The price currently implies +35.0 % 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 Citra Borneo Utama (CBUT) growing?
The median revenue growth in the sector is +2.8 % a year. That is the yardstick for the growth priced into Citra Borneo Utama (+35.0 % 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 Citra Borneo Utama (CBUT)?
The free-cash-flow yield on the price is 4.02 %: that much free cash flow Citra Borneo Utama 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 Citra Borneo Utama (CBUT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Citra Borneo Utama it is 904.46 IDR per share (as of Sep 24, 2026), against a price of 960.00 IDR. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Citra Borneo Utama stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CBUT trades above its calculated fair value: price 960.00 IDR, fair value 904.46 IDR, a gap of about −6% (fairly valued). 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 CBUT?
No. The price is what the market pays today (960.00 IDR); the fair value is what the company's own numbers justify (904.46 IDR). For Citra Borneo Utama the two are 55.54 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Citra Borneo Utama worth?
The market values Citra Borneo Utama at about 3.0T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 960.00 IDR; our models calculate a fair value of 904.46 IDR per share.
What do the bullish and bearish scenarios say about CBUT?
Our models span a range for Citra Borneo Utama: cautious scenario 633.12 IDR, base 904.46 IDR, optimistic 1,176 IDR per share (as of Sep 24, 2026, price 960.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CBUT?
Citra Borneo Utama trades at a price-to-earnings ratio of 27.0 (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 904.46 IDR is built from several models across several years. Other multiples: P/B 2.7, P/S 0.2, EV/EBITDA 7.7.
How solid is the balance sheet of Citra Borneo Utama (CBUT)?
Balance-sheet figures for Citra Borneo Utama (as of Sep 24, 2026): return on equity 10.1%, debt of 0.50 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is CBUT from its 52-week high?
Citra Borneo Utama trades at 960.00 IDR, about 40% below its 52-week high of 1,595 IDR and 113% above the low of 450.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 904.46 IDR is for.
Which stocks are comparable to Citra Borneo Utama?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, The Kraft Heinz Company, Foshan Haitian Flavouring and Food 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 Citra Borneo Utama stock attractive at the current price?
The data as of Sep 24, 2026: price 960.00 IDR, calculated fair value 904.46 IDR (−6%), Quality Score 55/100, from 22 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 CBUT calculated?
We run Citra Borneo Utama through 22 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 904.46 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 14.1 % above its aggregate fair value. Citra Borneo Utama 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 Citra Borneo Utama (CBUT)?
The closing price on Sep 23, 2026 was 960.00 IDR. Our model-based fair value is 904.46 IDR, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Citra Borneo Utama right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (633.12 IDR to 1,176 IDR) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Citra Borneo Utama
How large is the market capitalisation of Citra Borneo Utama (CBUT)?
The market capitalisation of Citra Borneo Utama is 3.0T IDR (≈ $300M). 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 Citra Borneo Utama (CBUT)?
The price-to-sales ratio of Citra Borneo Utama is 0.21 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Citra Borneo Utama (CBUT)?
Earnings per share at Citra Borneo Utama are 35.50 IDR (price ÷ EPS = P/E 27.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Citra Borneo Utama (CBUT)?
The net margin of Citra Borneo Utama is 0.8% (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 Citra Borneo Utama (CBUT)?
The return on equity (ROE) of Citra Borneo Utama is 10.1% (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 Citra Borneo Utama (CBUT)?
On an EBIT basis the return on assets of Citra Borneo Utama is 10.3% (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 Citra Borneo Utama (CBUT)?
The operating margin of Citra Borneo Utama is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Citra Borneo Utama (CBUT)?
Revenue at Citra Borneo Utama is growing −0.5% versus a year earlier (3y avg +13.2%). 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 Citra Borneo Utama (CBUT)?
Earnings per share at Citra Borneo Utama are growing +11.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Citra Borneo Utama (CBUT) carry?
The net debt of Citra Borneo Utama is 1.8T IDR (fiscal year 2025, ≈ 15.0 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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