Cemindo Gemilang Tbk PT (CMNT) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Cemindo Gemilang Tbk PT IDR 318, price IDR 740, upside -57.0%, quality 46 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 23, 2026.
How to read this chart
60‑month range 620.00 IDR – 1,185 IDR · fair‑value band 317.90 IDR – 640.86 IDR · the 740.00 IDR price screens above the 317.90 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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PT Cemindo Gemilang Tbk, together with its subsidiaries, engages in the manufacture and sale of cement and clinker, and ready-mix concrete in Indonesia, Vietnam, and internationally. It operates through three segments: Cement and Clinker, Concrete Products, and Others.
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PT Cemindo Gemilang Tbk, together with its subsidiaries, engages in the manufacture and sale of cement and clinker, and ready-mix concrete in Indonesia, Vietnam, and internationally. It operates through three segments: Cement and Clinker, Concrete Products, and Others. The company is also involved in limestone quarrying; marine transportation and port services; wastewater management and drainage businesses; mining; and trucking transportation services; and provision of cement packing services. It also provides precast concrete and aggregate products. PT Cemindo Gemilang Tbk was founded in 2011 and is based in Jakarta Selatan, Indonesia. The company operates as a subsidiary of WH Investment Pte. Ltd.
Stock analysis
Cemindo Gemilang Tbk PT (CMNT) currently trades at 740.00 IDR, while our model-based Fair Value estimate is 317.90 IDR, implying the stock looks roughly 132.8% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 509.39 IDR per share, and 2 of the 14 models we run sit above the 740.00 IDR price.
Bear case: the Asset-Based group reads lowest at 101.63 IDR, and 12 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 317.90 IDR (bear) to 640.86 IDR (bull), the price of 740.00 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 46/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Cemindo Gemilang Tbk PT reported revenue of 9.0T IDR in FY2025 versus 8.3T IDR in FY2021, a compound +2.0%/yr. Reported net income was −150B IDR in FY2025.
Key figures
Market cap 12.7T IDR (≈ $1.3B) · P/E ratio 245.0 · P/S ratio 1.45 · EPS (TTM) 3.02 IDR · Net margin −1.7% · Return on equity 2.2% · Return on assets (EBIT) 4.3% · Operating margin 4.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at −57%, CMNT screens richer than that median.
Fair Value models
Bear 317.90 IDRFair Value 317.90 IDRBull 640.86 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 (2.17 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+1.3%
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.
−2.5%
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.
+4.6%
Start year 2020 (pandemic)
Revenue growth 7 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.
+4.9%
’18
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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.
3.1% (2018) → 10.7% (2023)
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).
+15.1%
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 +12.2% a year for the price.
Compare Cemindo Gemilang Tbk PT 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.Building Materials · 256 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−57% · Bottom 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets3% · Above median
Net margin (TTM)1% · Below median
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth8% · Above median
Balance sheet
Debt / equity2.35× · Highest 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (TTM)245.0× · Priciest 25%
P/B4.88× · Priciest 25%
P/S (TTM)1.39× · Pricier than median
P/FCF0.0× · Cheapest 25%
EV/EBITDA11.2× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 26
FUTURE (revenue growth)40· sector 2
PAST (return on equity)9· sector 15
HEALTH (low debt)0· sector 92
DIVIDEND (yield)0· sector 45
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 Cemindo Gemilang Tbk PT (CMNT) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 317.90 IDR versus a price of 740.00 IDR, about −57% upside (overvalued).
What is the fair value of CMNT?
Our model-based fair value for Cemindo Gemilang Tbk PT is 317.90 IDR (as of Sep 23, 2026), built from audited fundamentals. The current price: 740.00 IDR.
What is the quality score of CMNT?
Cemindo Gemilang Tbk PT has a Quality Score of 46/100. 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 Cemindo Gemilang Tbk PT (CMNT)?
Our model-based price target is the fair value of 317.90 IDR (as of Sep 23, 2026) from 14 valuation models. Cautious scenario 317.90 IDR, optimistic scenario 640.86 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Cemindo Gemilang Tbk PT stock forecast for 2026?
Our models put fair value at 317.90 IDR, about −57% upside versus a price of 740.00 IDR (overvalued). Cautious scenario 317.90 IDR, optimistic scenario 640.86 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Cemindo Gemilang Tbk PT (CMNT)?
Cemindo Gemilang Tbk PT reported trailing-twelve-month revenue of about 9.1T IDR (latest available figure, as of Sep 23, 2026).
What growth is priced into Cemindo Gemilang Tbk PT (CMNT)?
For today's price to be fair in a discounted-cash-flow model, Cemindo Gemilang Tbk PT would have to grow free cash flow by +15.1 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.6 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of CMNT use?
Our models discount Cemindo Gemilang Tbk PT at 9.6 %: a base by market capitalisation (mega), damped by beta 0.20, 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 Cemindo Gemilang Tbk PT that is +15.1 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Cemindo Gemilang Tbk PT (CMNT) delivered so far?
Over the past 5 years revenue at Cemindo Gemilang Tbk PT grew +4.6 % a year. The price currently implies +15.1 % 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 Cemindo Gemilang Tbk PT (CMNT) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Cemindo Gemilang Tbk PT (+15.1 % 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 Cemindo Gemilang Tbk PT (CMNT)?
The free-cash-flow yield on the price is 5.98 %: that much free cash flow Cemindo Gemilang Tbk PT produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cemindo Gemilang Tbk PT (CMNT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cemindo Gemilang Tbk PT it is 317.90 IDR per share (as of Sep 23, 2026), against a price of 740.00 IDR. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Cemindo Gemilang Tbk PT stock overvalued or undervalued in 2026?
As of Sep 23, 2026, CMNT trades above its calculated fair value: price 740.00 IDR, fair value 317.90 IDR, a gap of about −57% (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 CMNT?
No. The price is what the market pays today (740.00 IDR); the fair value is what the company's own numbers justify (317.90 IDR). For Cemindo Gemilang Tbk PT the two are 422.10 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Cemindo Gemilang Tbk PT worth?
The market values Cemindo Gemilang Tbk PT at about 12.7T IDR (market capitalisation, as of Sep 23, 2026). Per share that is 740.00 IDR; our models calculate a fair value of 317.90 IDR per share.
What do the bullish and bearish scenarios say about CMNT?
Our models span a range for Cemindo Gemilang Tbk PT: cautious scenario 317.90 IDR, base 317.90 IDR, optimistic 640.86 IDR per share (as of Sep 23, 2026, price 740.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CMNT?
Cemindo Gemilang Tbk PT trades at a price-to-earnings ratio of 245.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 317.90 IDR is built from several models across several years. Other multiples: P/B 4.9, P/S 1.4, EV/EBITDA 11.2.
How solid is the balance sheet of Cemindo Gemilang Tbk PT (CMNT)?
Balance-sheet figures for Cemindo Gemilang Tbk PT (as of Sep 23, 2026): return on equity 2.2%, debt of 2.35 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is CMNT from its 52-week high?
Cemindo Gemilang Tbk PT trades at 740.00 IDR, about 16% below its 52-week high of 880.00 IDR and 19% above the low of 620.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 317.90 IDR is for.
Which stocks are comparable to Cemindo Gemilang Tbk PT?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement 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 Cemindo Gemilang Tbk PT stock attractive at the current price?
The data as of Sep 23, 2026: price 740.00 IDR, calculated fair value 317.90 IDR (−57%), Quality Score 46/100, from 14 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 CMNT calculated?
We run Cemindo Gemilang Tbk PT through 14 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 317.90 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. Cemindo Gemilang Tbk PT 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 Cemindo Gemilang Tbk PT (CMNT)?
The closing price on Sep 23, 2026 was 740.00 IDR. Our model-based fair value is 317.90 IDR, about −57% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cemindo Gemilang Tbk PT right now?
The price sits above even our optimistic bull case (640.86 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 (46/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (317.90 IDR to 640.86 IDR) leaves room in how you read the outcome.
Key figures of Cemindo Gemilang Tbk PT
How large is the market capitalisation of Cemindo Gemilang Tbk PT (CMNT)?
The market capitalisation of Cemindo Gemilang Tbk PT is 12.7T IDR (≈ $1.3B). 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 Cemindo Gemilang Tbk PT (CMNT)?
The price-to-sales ratio of Cemindo Gemilang Tbk PT is 1.45 (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 Cemindo Gemilang Tbk PT (CMNT)?
Earnings per share at Cemindo Gemilang Tbk PT are 3.02 IDR (price ÷ EPS = P/E 245.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cemindo Gemilang Tbk PT (CMNT)?
The net margin of Cemindo Gemilang Tbk PT is −1.7% (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 Cemindo Gemilang Tbk PT (CMNT)?
The return on equity (ROE) of Cemindo Gemilang Tbk PT is 2.2% (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 Cemindo Gemilang Tbk PT (CMNT)?
On an EBIT basis the return on assets of Cemindo Gemilang Tbk PT is 4.3% (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 Cemindo Gemilang Tbk PT (CMNT)?
The operating margin of Cemindo Gemilang Tbk PT is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cemindo Gemilang Tbk PT (CMNT)?
Revenue at Cemindo Gemilang Tbk PT is growing +7.9% versus a year earlier (3y avg −2.5%). 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 Cemindo Gemilang Tbk PT (CMNT)?
Earnings per share at Cemindo Gemilang Tbk PT are growing +220% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cemindo Gemilang Tbk PT (CMNT) carry?
The net debt of Cemindo Gemilang Tbk PT is 8.3T IDR (fiscal year 2025, ≈ 11.0 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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