Cemindo Gemilang Tbk PT (CMNT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Cemindo Gemilang Tbk PT stock IDR 318, price IDR 740, that is 57.0% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 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 6, 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). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 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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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, 57% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 448.39 IDR per share, and 0 of the 13 models we run sit above the 740.00 IDR price.
Bear case: the Asset-Based group reads lowest at 98.16 IDR, and 13 of the 13 models stay below the price. Data coverage 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 49/100 (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 (≈ $700M) Small · P/S ratio 1.33 · EPS (TTM) −13.29 IDR · Net margin −2.5% · Return on equity −8.1% · Return on assets (EBIT) 4.3% (5-year average) · Operating margin 7.3% · Revenue (TTM) 9.5T IDR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 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 −21% fair-value upside, at −57%, CMNT screens richer than that median.
Fair Value models
Bear317.90 IDRFair Value 317.90 IDRBull640.86 IDR
Price 740.00 IDR · Downside -57.0%
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.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.
Best data coverage
FCF DCF282.22 IDR448.39 IDR661.45 IDR77
Growth DCF293.04 IDR447.07 IDR634.93 IDR76
5Y EBITDA Exit285.30 IDR551.94 IDR858.24 IDR71
All 13 models by family
DCF Models
FCF DCF282.22 IDR448.39 IDR661.45 IDR77
5Y Revenue Exit162.37 IDR338.95 IDR560.90 IDR68
5Y EBITDA Exit285.30 IDR551.94 IDR858.24 IDR71
10Y Revenue Exit202.87 IDR354.09 IDR526.17 IDR64
10Y EBITDA Exit278.56 IDR478.41 IDR708.20 IDR65
Earnings-Based
EPVn/a23.08 IDR54.75 IDR68
Multiples
EV/EBITn/a158.95 IDR320.43 IDR61
EV/EBITDA219.22 IDR454.60 IDR689.99 IDR64
EV/Revenuen/a112.82 IDR292.75 IDR50
Asset-Based
NCAV (Graham)73.26 IDR98.16 IDR146.51 IDR54
Growth DCF
Growth DCF293.04 IDR447.07 IDR634.93 IDR76
Rev-Margin DCF162.37 IDR351.67 IDR563.24 IDR68
Economic Profit
ROIC Compoundern/a23.08 IDR54.75 IDR65
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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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’21
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’25
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).
+21.2%
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 +18.1% 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 · 257 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−57.0% · Bottom 25%
Profitability
Return on assets−0.9% · Bottom 25%
Net margin (12 months)−2.5% · Bottom 25%
Operating margin (12 months)7.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)17.2% · Top 25%
Balance sheet
Debt / equity2.35× · Highest 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
P/B4.88× · Priciest 25%
P/S (12 months)1.34× · Pricier than median
Price / free cash flow (fiscal year)16.7× · Pricier than median
EV/EBITDA10.7× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 30
FUTURE (revenue growth)86· sector 13
PAST (return on equity)0· sector 17
HEALTH (low debt)0· sector 92
DIVIDEND (yield)0· sector 47
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 Nov 6, 2026, our model estimates a fair value of 317.90 IDR versus a price of 740.00 IDR, about 57% lower (overvalued).
What is the fair value of CMNT?
Our model-based fair value for Cemindo Gemilang Tbk PT is 317.90 IDR (as of Nov 6, 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 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 Cemindo Gemilang Tbk PT (CMNT)?
Our model-based price target is the fair value of 317.90 IDR (as of Nov 6, 2026) from 13 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% lower 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 9.5T IDR (latest available figure, as of Nov 6, 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 +21.2 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.6 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of CMNT use?
Our models discount Cemindo Gemilang Tbk PT at 12.0 %: a base by market capitalisation (small), damped by beta 0.19, 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 +21.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.0 %) 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 free-cash-flow growth of +21.2 % per 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 +9.8 % a year. That is the yardstick for the growth priced into Cemindo Gemilang Tbk PT (+21.2 % per 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 (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of 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 Nov 6, 2026), against a price of 740.00 IDR. It is the blended result of 13 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Cemindo Gemilang Tbk PT stock overvalued or undervalued in 2026?
As of Nov 6, 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 Nov 6, 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 Nov 6, 2026, price 740.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cemindo Gemilang Tbk PT (CMNT)?
Balance-sheet figures for Cemindo Gemilang Tbk PT (as of Nov 6, 2026): return on equity −8.1%, debt of 2.35 per unit of equity. They feed the Quality Score of 49/100, 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 Nov 6, 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, Martin Marietta Materials, Inc, Vulcan Materials 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 Cemindo Gemilang Tbk PT stock attractive at the current price?
The data as of Nov 6, 2026: price 740.00 IDR, calculated fair value 317.90 IDR (−57%), 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 CMNT calculated?
We run Cemindo Gemilang Tbk PT through 13 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 317.90 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 13.0% 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 Nov 6, 2026 was 740.00 IDR. Our model-based fair value is 317.90 IDR, about 57% lower (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. Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. 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 (≈ $700M). 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 1.33 (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 −13.29 IDR. 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 −2.5% (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 Cemindo Gemilang Tbk PT (CMNT)?
The return on equity (ROE) of Cemindo Gemilang Tbk PT is −8.1% (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 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 7.3% (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 +17.2% 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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Thin data
Nov 6, 2026