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PT Cisarua Mountain Dairy Tbk (CMRY) Fair Value & Analysis

Consumer Defensive · ID · Market cap 35.6T IDR

PC PT Cisarua Mountain Dairy Tbk CMRY · JK
Price4,750 IDR
Fair Value4,355 IDR
Upside-8.3%
Quality78/100
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Healthy Growth
Solidly profitable · 18.5% net margin
Low debt · generates free cash flow
Ranks above peers (10/15)
Wide moat 81/100
Evidence: High Range 3,267 IDR – 13,647 IDR Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

A strong business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (3,267 IDR to 13,647 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
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Price vs Fair Value (5 years)

6,165 IDR 2,740 IDR Fair Value 4,355 IDR Dec 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

56‑month range 2,740 IDR – 6,165 IDR · fair‑value band 3,267 IDR – 13,647 IDR · the 4,750 IDR price screens above the 4,355 IDR fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

PT Cisarua Mountain Dairy Tbk (CMRY) currently trades at 4,750 IDR, while our model-based Fair Value estimate is 4,355 IDR, implying the stock looks roughly 8.3% fairly valued today. The Quality Score stands at 78/100 (high quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PT Cisarua Mountain Dairy Tbk generated revenue of 11.4T IDR at a net margin of 18.5%. Revenue grew 27.9% year over year. It earns a return on equity of 28.9%. The balance sheet holds a net cash position of 947B IDR. Fundamentals as of Jul 18, 2026

Our scenario range runs from 3,267 IDR (bear case) to 13,647 IDR (bull case); at 4,750 IDR, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 25% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 17% fair-value upside, at -8%, CMRY screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 3,121 IDR 6,375 IDR 11,840 IDR 80
Residual Income 1,953 IDR 2,714 IDR 23,494 IDR 76
Rev-Margin DCF 2,258 IDR 3,963 IDR 7,392 IDR 74
All 24 models by family
DCF Models
FCF DCF 3,304 IDR 5,254 IDR 11,631 IDR 38
Owner Earnings 3,453 IDR 7,931 IDR 17,752 IDR 31
5Y Revenue Exit 2,127 IDR 3,477 IDR 6,294 IDR 39
5Y EBITDA Exit 3,315 IDR 5,882 IDR 10,919 IDR 41
5Y P/E Exit 4,069 IDR 9,273 IDR 16,421 IDR 38
10Y Revenue Exit 2,431 IDR 4,934 IDR 6,442 IDR 36
10Y EBITDA Exit 3,385 IDR 7,554 IDR 14,872 IDR 37
10Y P/E Exit 3,948 IDR 9,216 IDR 18,014 IDR 35
Earnings-Based
Graham-Dodd 1,742 IDR 12,149 IDR 17,050 IDR 54
Lynch FV 5,470 IDR 7,814 IDR 10,158 IDR 50
PEG = 1.0 5,470 IDR 7,814 IDR 10,158 IDR 46
EPV 2,317 IDR 2,705 IDR 3,050 IDR 59
Multiples
P/E Multiple 4,035 IDR 5,380 IDR 6,725 IDR 63
P/S Multiple 1,622 IDR 2,162 IDR 2,703 IDR 58
P/B Multiple 3,267 IDR 4,355 IDR 5,444 IDR 55
EV/EBIT 3,769 IDR 4,986 IDR 6,203 IDR 53
EV/EBITDA 3,179 IDR 4,198 IDR 5,218 IDR 54
EV/Revenue 1,539 IDR 2,147 IDR 2,755 IDR 43
Asset-Based
NCAV (Graham) 427.53 IDR 572.88 IDR 855.05 IDR 50
Growth DCF
Growth DCF 3,121 IDR 6,375 IDR 11,840 IDR 80
Rev-Margin DCF 2,258 IDR 3,963 IDR 7,392 IDR 74
Economic Profit
Residual Income 1,953 IDR 2,714 IDR 23,494 IDR 76
ROIC Compounder 3,133 IDR 5,024 IDR 7,283 IDR 72
Growth Earnings
Growth-Adj P/E 7,348 IDR 10,497 IDR 13,647 IDR 68

Widest divergence: Growth Earnings (10,497 IDR) versus Asset-Based (572.88 IDR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 11.4T IDR
Revenue growth (YoY) +27.9%
Net margin 18.5%
Return on equity 28.9%
Free cash flow 1.4T IDR FY2025
P/E ratio 15.5
More key figures
Operating margin 20.2%
EPS (TTM) 265.59 IDR
EPS growth (YoY) +15.6%
Net cash 947B IDR FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 78/100

Of which business quality 76 · Market factors (momentum, volatility) 45

Profitability 94
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PT Cisarua Mountain Dairy Tbk produces and sells dairy and consumer products in Indonesia and internationally. It operates through Dairy Products and Consumer Foods segments. The company offers milk, yogurt, sausages, chicken nuggets, luncheon meat, and meatballs, as well as egg-based products under the Cimory and Kanzler brands.

Full company description

PT Cisarua Mountain Dairy Tbk produces and sells dairy and consumer products in Indonesia and internationally. It operates through Dairy Products and Consumer Foods segments. The company offers milk, yogurt, sausages, chicken nuggets, luncheon meat, and meatballs, as well as egg-based products under the Cimory and Kanzler brands. It is also involved in acting as an agent and distributor; and food processing and canning activities. PT Cisarua Mountain Dairy Tbk was founded in 1993 and is headquartered in Jakarta, Indonesia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Cisarua Mountain Dairy Tbk reported revenue of 10.7T IDR in FY2025 versus 4.1T IDR in FY2021, a compound +27.2%/yr. Reported net income was 2.0T IDR in FY2025, compounding +26.6%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
10.7T IDR
Latest YoY
+18.8%
Avg. growth/yr (3Y)
+18.9%
Avg. growth/yr (5Y)
+41.9%
Avg. growth/yr (7Y)
+38.7%
Revenue +27.2%/yr
FY21 4.1T IDR
FY22 6.4T IDR
FY23 7.8T IDR
FY24 9.0T IDR
FY25 10.7T IDR
Net income +26.6%/yr
FY21 790B IDR
FY22 1.1T IDR
FY23 1.2T IDR
FY24 1.5T IDR
FY25 2.0T IDR

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Cite: Fair Value Calculator (2026). "PT Cisarua Mountain Dairy Tbk Fair Value". https://www.fairvalue-calculator.com/stock/CMRY

Peer Group

Packaged Foods · 653 stocks

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.

Quality Score 78 · Top 25%
Fair Value upside −8% · Below median
Return on equity (TTM) 29% · Top 25%
Return on assets 16% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 28% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 16.9× · Cheaper than median
P/B 5.25× · Pricier than 75% of peers
P/S (TTM) 3.12× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 13.3× · Pricier than 75% of peers
PEG 1.29× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 22 · sector 29
FUTURE 100 · sector 19
PAST 100 · sector 27
HEALTH 100 · sector 96
DIVIDEND 0 · sector 47

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%
PT Siantar Top Tbk, STTP 10,300 IDR 15,316 IDR +49%

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Frequently asked questions

Is PT Cisarua Mountain Dairy Tbk (CMRY) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 4,355 IDR versus a price of 4,750 IDR, about −8% (fairly valued).
What is the fair value of CMRY?
Our model-based fair value for PT Cisarua Mountain Dairy Tbk is 4,355 IDR (as of Jul 18, 2026), built from audited fundamentals. The current price is 4,750 IDR.
What is the quality score of CMRY?
PT Cisarua Mountain Dairy Tbk has a Quality Score of 78/100. 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 revenue of PT Cisarua Mountain Dairy Tbk (CMRY)?
PT Cisarua Mountain Dairy Tbk reported trailing-twelve-month revenue of about 11.4T IDR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of CMRY?
The net profit margin of PT Cisarua Mountain Dairy Tbk is about 18.5%, meaning it keeps roughly 18.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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