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PT Chemstar Indonesia Tbk (CHEM) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of PT Chemstar Indonesia Tbk IDR 60, price IDR 66, upside -8.5%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · ID

PC Thin data Sep 24, 2026

PT Chemstar Indonesia Tbk

CHEM · JK

Low PriorityFair Value upside is limited and quality is weak.

·Fair value 60.38 IDR · Fairly valued (−9%)
!Quality 49/100
!Expensive Growth (revenue 5y +22.5 %/yr)
!Loss over the last twelve months · -1.1% net margin (TTM) · fiscal year 2025 0.9%
!Low debt · negative free cash flow
·0.50% dividend yield
!Trails peers (3/9)
!Narrow moat 22/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 22 out of 100
!Weak on dividend: 10 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

213.02 IDR 49.06 IDR Fair Value 60.38 IDR Jul 2022 Sep 2026

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

51‑month range 49.06 IDR – 213.02 IDR · fair‑value band 45.91 IDR – 60.38 IDR · the 66.00 IDR price screens above the 60.38 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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Company profile

PT Chemstar Indonesia Tbk manufactures and trades in chemicals for the textile and other industries in Indonesia.

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PT Chemstar Indonesia Tbk manufactures and trades in chemicals for the textile and other industries in Indonesia. The company offers DEMULGEN RA-AC, an acid-reduction clearing agent for dispersing dyes; ESKA FINISH FN-GRM, a weight-enhancer agent for cotton and polyester knitted; ESKALET DA-APC, a chelating and dispersing agent; ESKA PLUS DN-SR, a sodium alkali for the fixation of reactive dyes in exhaust dyeing; ESKA SOFT SN-HWA, a micro emulsion silicone type softening agent for natural fibers and related blend; and ESKA FIX FC-DR, a fixing agent for direct and reactive dyes to improve fastness of the dyed or printed materials made from cellulose fiber and their blended. It also provides dyes and chemicals for spinning, sizing, weaving, knitting, pre-treatment, dyeing, printing, finishing, and coating processes. The company was founded in 2004 and is headquartered in Purwakarta, Indonesia. PT Chemstar Indonesia Tbk operates as a subsidiary of PT Tunas Bahtera Harum.

Stock analysis

PT Chemstar Indonesia Tbk (CHEM) currently trades at 66.00 IDR, while our model-based Fair Value estimate is 60.38 IDR, implying the stock looks roughly 9.3% fairly valued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 130.12 IDR per share, and 1 of the 15 models we run sit above the 66.00 IDR price.

Bear case: the Multiples group reads lowest at 18.61 IDR, and 14 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 45.91 IDR (bear) to 60.38 IDR (bull), the price of 66.00 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 Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

PT Chemstar Indonesia Tbk reported revenue of 219B IDR in FY2025 versus 89.6B IDR in FY2021, a compound +25.0%/yr. Reported net income was 1.9B IDR in FY2025, compounding −38.4%/yr from FY2021.

Key figures

Market cap 112B IDR (≈ $6.3M) · P/S ratio 0.54 · Dividend yield 0.5% · Net margin 0.9% · Return on equity −2.0% · Return on assets (EBIT) 8.2% · Operating margin 3.3% · Revenue (TTM) 211B IDR.

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 53% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at −9%, CHEM screens cheaper than that median.

Fair Value models

Bear 45.91 IDR Fair Value 60.38 IDR Bull 60.38 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. 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.
Highest evidence
Residual Income 46.67 IDR 43.60 IDR 32.62 IDR 76
EPV 23.79 IDR 26.66 IDR 29.14 IDR 74
ROIC Compounder 23.79 IDR 26.66 IDR 29.14 IDR 72
All 15 models by family
DCF Models
Owner Earnings 61.80 IDR 130.12 IDR 268.27 IDR 71
Earnings-Based
Graham-Dodd 7.44 IDR 51.92 IDR 72.86 IDR 63
Lynch FV 18.25 IDR 26.07 IDR 33.89 IDR 61
PEG = 1.0 18.25 IDR 26.07 IDR 33.89 IDR 57
EPV 23.79 IDR 26.66 IDR 29.14 IDR 74
Multiples
P/E Multiple 13.96 IDR 18.61 IDR 23.26 IDR 63
P/S Multiple 13.96 IDR 18.61 IDR 23.26 IDR 58
P/B Multiple 13.96 IDR 18.61 IDR 23.26 IDR 55
EV/EBIT 29.87 IDR 37.95 IDR 46.03 IDR 66
EV/EBITDA 39.42 IDR 50.69 IDR 61.95 IDR 67
EV/Revenue 26.64 IDR 35.64 IDR 44.64 IDR 54
Asset-Based
NCAV (Graham) 34.11 IDR 45.70 IDR 68.22 IDR 54
Economic Profit
Residual Income 46.67 IDR 43.60 IDR 32.62 IDR 76
ROIC Compounder 23.79 IDR 26.66 IDR 29.14 IDR 72
Growth Earnings
Growth-Adj P/E 21.92 IDR 31.32 IDR 40.72 IDR 67

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Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 27

Profitability 35
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 83
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+25.5%
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.
+19.7%
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.
+22.5%
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.
+16.5%
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.
−15.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.9%
Dividend (yield on the price)0.5%
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.11% → 2%

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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.Specialty Chemicals · 709 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −13% · Above median
Profitability
Return on assets 0% · Bottom 25%
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 3% · Below median
Growth and dividend
Revenue growth 23% · Top 25%
Dividend yield (TTM) 0.5% · Bottom 25%
Balance sheet
Debt / equity 0.01× · Lowest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)22 · sector 0
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)0 · sector 23
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)10 · sector 29

Context: sector, industry, market

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

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Nan Ya Plastics Corporation 1303 238.00 TWD 235.25 TWD −1%
Givaudan SA GIVN CHF 3,406 CHF 1,523 −55%
Wanhua Chemical Group 600309 ¥71.60 ¥68.03 −5%
Sika AG SIKA CHF 182.10 CHF 98.89 −46%
Asian Paints Limited ASIANPAINT ₹2,455 ₹1,479 −40%
PPG Industries, Inc PPG $107.20 $77.06 −28%

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PT Chemstar Indonesia Tbk · Fair Value
60.38 IDR −9%Fair Value
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Cite: Fair Value Calculator (2026). "PT Chemstar Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/CHEM

Frequently asked questions

Is PT Chemstar Indonesia Tbk (CHEM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 60.38 IDR versus a price of 66.00 IDR, about −9% upside (fairly valued).
What is the fair value of CHEM?
Our model-based fair value for PT Chemstar Indonesia Tbk is 60.38 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 66.00 IDR.
What is the quality score of CHEM?
PT Chemstar Indonesia 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 PT Chemstar Indonesia Tbk (CHEM)?
Our model-based price target is the fair value of 60.38 IDR (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 45.91 IDR, optimistic scenario 60.38 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the PT Chemstar Indonesia Tbk stock forecast for 2026?
Our models put fair value at 60.38 IDR, about −9% upside versus a price of 66.00 IDR (fairly valued). Cautious scenario 45.91 IDR, optimistic scenario 60.38 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of PT Chemstar Indonesia Tbk (CHEM)?
PT Chemstar Indonesia Tbk reported trailing-twelve-month revenue of about 211B IDR (latest available figure, as of Sep 24, 2026).
Does PT Chemstar Indonesia Tbk pay a dividend?
PT Chemstar Indonesia Tbk currently shows a dividend yield of about 0.50% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of PT Chemstar Indonesia Tbk (CHEM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PT Chemstar Indonesia Tbk it is 60.38 IDR per share (as of Sep 24, 2026), against a price of 66.00 IDR. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is PT Chemstar Indonesia Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CHEM trades above its calculated fair value: price 66.00 IDR, fair value 60.38 IDR, a gap of about −9% (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 CHEM?
No. The price is what the market pays today (66.00 IDR); the fair value is what the company's own numbers justify (60.38 IDR). For PT Chemstar Indonesia Tbk the two are 5.62 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is PT Chemstar Indonesia Tbk worth?
The market values PT Chemstar Indonesia Tbk at about 112B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 66.00 IDR; our models calculate a fair value of 60.38 IDR per share.
What do the bullish and bearish scenarios say about CHEM?
Our models span a range for PT Chemstar Indonesia Tbk: cautious scenario 45.91 IDR, base 60.38 IDR, optimistic 60.38 IDR per share (as of Sep 24, 2026, price 66.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PT Chemstar Indonesia Tbk (CHEM)?
Balance-sheet figures for PT Chemstar Indonesia Tbk (as of Sep 24, 2026): return on equity −2.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is CHEM from its 52-week high?
PT Chemstar Indonesia Tbk trades at 66.00 IDR, about 53% below its 52-week high of 141.31 IDR and 25% above the low of 53.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 60.38 IDR is for.
Which stocks are comparable to PT Chemstar Indonesia Tbk?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 PT Chemstar Indonesia Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 66.00 IDR, calculated fair value 60.38 IDR (−9%), Quality Score 49/100, 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 CHEM calculated?
We run PT Chemstar Indonesia Tbk through 15 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 60.38 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. PT Chemstar Indonesia 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 PT Chemstar Indonesia Tbk (CHEM)?
The closing price on Sep 24, 2026 was 66.00 IDR. Our model-based fair value is 60.38 IDR, about −9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PT Chemstar Indonesia Tbk right now?
The price sits above even our optimistic bull case (60.38 IDR). The favourable scenario is already priced in. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of PT Chemstar Indonesia Tbk

How large is the market capitalisation of PT Chemstar Indonesia Tbk (CHEM)?
The market capitalisation of PT Chemstar Indonesia Tbk is 112B IDR (≈ $6.3M). 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 PT Chemstar Indonesia Tbk (CHEM)?
The price-to-sales ratio of PT Chemstar Indonesia Tbk is 0.54 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of PT Chemstar Indonesia Tbk (CHEM)?
The dividend yield of PT Chemstar Indonesia Tbk is 0.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PT Chemstar Indonesia Tbk (CHEM)?
The net margin of PT Chemstar Indonesia Tbk is 0.9% (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 PT Chemstar Indonesia Tbk (CHEM)?
The return on equity (ROE) of PT Chemstar Indonesia Tbk is −2.0% (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 PT Chemstar Indonesia Tbk (CHEM)?
On an EBIT basis the return on assets of PT Chemstar Indonesia Tbk is 8.2% (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 PT Chemstar Indonesia Tbk (CHEM)?
The operating margin of PT Chemstar Indonesia Tbk is 3.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PT Chemstar Indonesia Tbk (CHEM)?
Revenue at PT Chemstar Indonesia Tbk is growing +22.9% versus a year earlier (3y avg +19.7%). 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 PT Chemstar Indonesia Tbk (CHEM)?
Earnings per share at PT Chemstar Indonesia Tbk are growing −66.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PT Chemstar Indonesia Tbk (CHEM) generate?
The free cash flow of PT Chemstar Indonesia Tbk is −4.4B 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 PT Chemstar Indonesia Tbk (CHEM) carry?
The net debt of PT Chemstar Indonesia Tbk is 27.7B 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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