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PT Carsurin Tbk, togther with its subsidiaries, (CRSN) Fair Value & Analysis

Industrials · ID · Market cap 286B IDR

PC PT Carsurin Tbk, togther with its subsidiaries, CRSN · JK
Price126.00 IDR
Fair Value58.30 IDR
Upside-53.7%
Quality46/100
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Healthy Growth
Thin margins · 1.2% net margin
Low debt · generates free cash flow
Trails peers (3/10)
Narrow moat 35/100
Evidence: High Range 30.75 IDR – 58.30 IDR Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from 105.13 IDR to 58.30 IDR (−44.5%) since Jun 24, 2026. Share price +27.3% over the past month.

Below-average quality, and screening another 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (58.30 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (30.75 IDR to 58.30 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

179.41 IDR 88.61 IDR Fair Value 58.30 IDR Jul 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

37‑month range 88.61 IDR – 179.41 IDR · fair‑value band 30.75 IDR – 58.30 IDR · the 126.00 IDR price screens above the 58.30 IDR fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

PT Carsurin Tbk, togther with its subsidiaries, (CRSN) currently trades at 126.00 IDR, while our model-based Fair Value estimate is 58.30 IDR, implying the stock looks roughly 53.7% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Industrials 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 Carsurin Tbk, togther with its subsidiaries, generated revenue of 507B IDR at a net margin of 1.2%. Revenue grew 2.0% year over year. It earns a return on equity of 2.6%. Net debt stands at 61.0B IDR. Fundamentals as of Jul 11, 2026

Our scenario range runs from 30.75 IDR (bear case) to 58.30 IDR (bull case); at 126.00 IDR, the current price sits above 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 36% below its 52-week high and 52% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at -54%, CRSN 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 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
Highest evidence
Growth DCF 19.71 IDR 44.53 IDR 89.37 IDR 80
Residual Income 57.70 IDR 56.49 IDR 47.69 IDR 76
Rev-Margin DCF 59.19 IDR 122.65 IDR 204.52 IDR 74
All 26 models by family
DCF Models
FCF DCF 19.85 IDR 46.44 IDR 94.95 IDR 38
Owner Earnings 9.49 IDR 27.15 IDR 59.37 IDR 31
5Y Revenue Exit 59.19 IDR 125.59 IDR 217.99 IDR 39
5Y EBITDA Exit 138.35 IDR 288.97 IDR 482.05 IDR 41
5Y P/E Exit 18.19 IDR 40.97 IDR 67.00 IDR 38
10Y Revenue Exit 43.17 IDR 103.18 IDR 199.13 IDR 36
10Y EBITDA Exit 100.05 IDR 225.75 IDR 425.56 IDR 37
10Y P/E Exit 18.52 IDR 39.70 IDR 69.65 IDR 35
Earnings-Based
Graham-Dodd 13.28 IDR 61.78 IDR 84.88 IDR 54
Lynch FV 16.31 IDR 23.29 IDR 30.28 IDR 50
PEG = 1.0 16.31 IDR 23.29 IDR 30.28 IDR 46
EPV 49.02 IDR 59.62 IDR 69.04 IDR 59
Dividend Discount
Gordon GGM 22.41 IDR 48.93 IDR 82.33 IDR 70
DDM Multi-Stage 22.41 IDR 40.08 IDR 50.99 IDR 61
Multiples
P/E Multiple 30.75 IDR 41.00 IDR 51.25 IDR 63
P/S Multiple 24.90 IDR 33.19 IDR 41.49 IDR 58
P/B Multiple 24.90 IDR 33.19 IDR 41.49 IDR 55
EV/EBIT 112.76 IDR 154.02 IDR 195.28 IDR 53
EV/EBITDA 207.02 IDR 279.70 IDR 352.38 IDR 54
EV/Revenue 77.33 IDR 115.19 IDR 153.05 IDR 43
Asset-Based
NCAV (Graham) 39.48 IDR 52.90 IDR 78.96 IDR 50
Growth DCF
Growth DCF 19.71 IDR 44.53 IDR 89.37 IDR 80
Rev-Margin DCF 59.19 IDR 122.65 IDR 204.52 IDR 74
Economic Profit
Residual Income 57.70 IDR 56.49 IDR 47.69 IDR 76
ROIC Compounder 49.02 IDR 59.62 IDR 69.04 IDR 72
Growth Earnings
Growth-Adj P/E 25.96 IDR 37.09 IDR 48.21 IDR 68

Widest divergence: Economic Profit (56.49 IDR) versus Earnings-Based (23.29 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 507B IDR
Revenue growth (YoY) +2.0%
Net margin 1.2%
Return on equity 2.6%
Free cash flow 6.5B IDR FY2025
Operating margin 7.4%
More key figures
EPS growth (YoY) +16.8%
Net debt 61.0B IDR FY2024

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 50 · Market factors (momentum, volatility) 45

Profitability 53
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 56
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 Carsurin Tbk, togther with its subsidiaries, provides technical risk and technology solutions in Indonesia. The company offers survey, inspection, laboratory, UAV, audit, compliance, consultancy, analysis, testing, assessment, verification, and validation services to agriculture, consumer product and retail, coal and coke, electric vehicle, environment, …

Full company description

PT Carsurin Tbk, togther with its subsidiaries, provides technical risk and technology solutions in Indonesia. The company offers survey, inspection, laboratory, UAV, audit, compliance, consultancy, analysis, testing, assessment, verification, and validation services to agriculture, consumer product and retail, coal and coke, electric vehicle, environment, marine and offshore, minerals and metals, oil and gas, and petroleum and petrochemicals industries. It is also involved in oil and gas installation; wholesale of machinery, equipment, and other supplies; laboratory testing services; mining and quarrying support activities; other technical analysis and testing; other professional, scientific, and technical activities; business consultancy and brokerage activities; and forestry planning. The company was founded in 1968 and is headquartered in Jakarta Barat, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Carsurin Tbk, togther with its subsidiaries, reported revenue of 505B IDR in FY2025 versus 319B IDR in FY2021, a compound +12.2%/yr. Reported net income was 5.6B IDR in FY2025, compounding −27.9%/yr from FY2021.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
505B IDR
Latest YoY
+12.6%
Avg. growth/yr (3Y) 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.
+11.6%
Avg. growth/yr (5Y) 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.
+12.6%
Revenue +12.2%/yr
FY21 319B IDR
FY22 363B IDR
FY23 444B IDR
FY24 449B IDR
FY25 505B IDR
Net income −27.9%/yr
FY21 20.9B IDR
FY22 29.9B IDR
FY23 27.5B IDR
FY24 23.1B IDR
FY25 5.6B IDR

CRSN screens 54% overvalued. Compare with Cintas Corporation →

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Cite: Fair Value Calculator (2026). "PT Carsurin Tbk, togther with its subsidiaries, Fair Value". https://www.fairvalue-calculator.com/stock/CRSN

Peer Group

Specialty Business Services · 253 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 46 · Below median
Fair Value upside −54% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 5% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 2% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.21× · Higher than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 0 · sector 24
FUTURE 10 · sector 27
PAST 11 · sector 33
HEALTH 90 · sector 92
DIVIDEND 0 · sector 54

VALUE 0: the price sits above our fair-value range.

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is PT Carsurin Tbk, togther with its subsidiaries, (CRSN) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 58.30 IDR versus a price of 126.00 IDR, about −54% (overvalued).
What is the fair value of CRSN?
Our model-based fair value for PT Carsurin Tbk, togther with its subsidiaries, is 58.30 IDR (as of Jul 11, 2026), built from audited fundamentals. The current price is 126.00 IDR.
What is the quality score of CRSN?
PT Carsurin Tbk, togther with its subsidiaries, 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 revenue of PT Carsurin Tbk, togther with its subsidiaries, (CRSN)?
PT Carsurin Tbk, togther with its subsidiaries, reported trailing-twelve-month revenue of about 507B IDR (latest available figure, as of Jul 11, 2026).
What is the net profit margin of CRSN?
The net profit margin of PT Carsurin Tbk, togther with its subsidiaries, is about 1.2%, meaning it keeps roughly 1.2% 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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