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PT Delta Djakarta Tbk (DLTA) Fair Value & Analysis

Consumer Defensive · ID · Market cap 1.4T IDR

PD PT Delta Djakarta Tbk DLTA · JK
Price1,790 IDR
Fair Value3,932 IDR
Upside+119.7%
Quality83/100
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Healthy Growth
Highly profitable · 22.1% net margin
Low debt · generates free cash flow
Ranks above peers (11/14)
Wide moat 76/100
Evidence: High Range 2,949 IDR – 4,915 IDR Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Share price +1.4% over the past month.

A strong business, screening 120% undervalued on our models.

What matters now

  • The rarer combination: high quality (83/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (2,949 IDR). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

2,982 IDR 1,606 IDR Fair Value 3,932 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 1,606 IDR – 2,982 IDR · fair‑value band 2,949 IDR – 4,915 IDR · the 1,790 IDR price screens below the 3,932 IDR fair value. Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

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Analysis

PT Delta Djakarta Tbk (DLTA) currently trades at 1,790 IDR, while our model-based Fair Value estimate is 3,932 IDR, implying the stock looks roughly 119.7% undervalued today. The Quality Score stands at 83/100 (high quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, PT Delta Djakarta Tbk generated revenue of 687B IDR at a net margin of 22.1%. Revenue grew 8.2% year over year. It earns a return on equity of 18.1%. The balance sheet holds a net cash position of 639B IDR. Fundamentals as of Jul 20, 2026

Our scenario range runs from 2,949 IDR (bear case) to 4,915 IDR (bull case); at 1,790 IDR, the current price sits below 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 17% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -8% fair-value upside, at 120%, DLTA screens cheaper 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 3,907 IDR 5,136 IDR 7,065 IDR 80
Residual Income 1,201 IDR 1,447 IDR 3,470 IDR 76
Rev-Margin DCF 2,356 IDR 2,875 IDR 3,484 IDR 74
All 24 models by family
DCF Models
FCF DCF 3,785 IDR 5,057 IDR 7,164 IDR 38
Owner Earnings 2,842 IDR 3,720 IDR 5,173 IDR 31
5Y Revenue Exit 2,356 IDR 2,818 IDR 3,405 IDR 39
5Y EBITDA Exit 3,308 IDR 4,466 IDR 5,834 IDR 41
5Y P/E Exit 3,474 IDR 4,752 IDR 6,105 IDR 38
10Y Revenue Exit 2,828 IDR 3,327 IDR 3,875 IDR 36
10Y EBITDA Exit 3,457 IDR 4,451 IDR 5,597 IDR 37
10Y P/E Exit 3,561 IDR 4,646 IDR 5,790 IDR 35
Earnings-Based
Graham-Dodd 1,273 IDR 2,464 IDR 3,079 IDR 54
EPV 2,339 IDR 2,621 IDR 2,872 IDR 59
Dividend Discount
Gordon GGM 1,651 IDR 2,340 IDR 3,068 IDR 70
DDM Multi-Stage 1,651 IDR 2,344 IDR 3,192 IDR 61
Multiples
P/E Multiple 2,949 IDR 3,932 IDR 4,915 IDR 63
P/S Multiple 1,011 IDR 1,348 IDR 1,685 IDR 58
P/B Multiple 2,387 IDR 3,183 IDR 3,979 IDR 55
EV/EBIT 3,401 IDR 4,288 IDR 5,175 IDR 53
EV/EBITDA 3,394 IDR 4,278 IDR 5,163 IDR 54
EV/Revenue 1,625 IDR 2,004 IDR 2,383 IDR 43
Asset-Based
NCAV (Graham) 471.81 IDR 632.23 IDR 943.63 IDR 50
Growth DCF
Growth DCF 3,907 IDR 5,136 IDR 7,065 IDR 80
Rev-Margin DCF 2,356 IDR 2,875 IDR 3,484 IDR 74
Economic Profit
Residual Income 1,201 IDR 1,447 IDR 3,470 IDR 76
ROIC Compounder 2,359 IDR 2,670 IDR 2,963 IDR 72
Growth Earnings
Growth-Adj P/E 2,120 IDR 3,028 IDR 3,937 IDR 68

Widest divergence: DCF Models (4,451 IDR) versus Asset-Based (632.23 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 687B IDR
Revenue growth (YoY) +8.2%
Net margin 22.1%
Return on equity 18.1%
Free cash flow 225B IDR FY2025
P/E ratio 9.3
More key figures
Operating margin 19.0%
EPS (TTM) 189.03 IDR
EPS growth (YoY) +5.4%
Net cash 639B IDR FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 83/100

Of which business quality 81 · Market factors (momentum, volatility) 58

Profitability 70
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 41
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 Delta Djakarta Tbk engages in the beverage business in Indonesia. The company offers beers, lagers, and stouts. It sells its products under the Anker Beer, Anker Stout, Anker Lychee, Anker Pineapple, Carlsberg, San Miguel Pale Pilsen, San Mig Light, San Miguel Cerveza Blanca, San Miguel Cerveza Negra, Kuda Putih, and Batavia brands.

Full company description

PT Delta Djakarta Tbk engages in the beverage business in Indonesia. The company offers beers, lagers, and stouts. It sells its products under the Anker Beer, Anker Stout, Anker Lychee, Anker Pineapple, Carlsberg, San Miguel Pale Pilsen, San Mig Light, San Miguel Cerveza Blanca, San Miguel Cerveza Negra, Kuda Putih, and Batavia brands. The company also exports its products. PT Delta Djakarta Tbk was founded in 1932 and is headquartered in Bekasi, Indonesia. PT Delta Djakarta Tbk is a subsidiary of San Miguel Malaysia (L) Private Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Delta Djakarta Tbk reported revenue of 675B IDR in FY2025 versus 681B IDR in FY2021, a compound −0.2%/yr. Reported net income was 150B IDR in FY2025, compounding −5.5%/yr from FY2021.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
675B IDR
Latest YoY
+4.3%
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.
−4.7%
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.
+4.3%
Avg. growth/yr (25Y) ⓘ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.
+3.9%
Revenue −0.2%/yr
FY21 681B IDR
FY22 779B IDR
FY23 737B IDR
FY24 647B IDR
FY25 675B IDR
Net income −5.5%/yr
FY21 188B IDR
FY22 230B IDR
FY23 199B IDR
FY24 142B IDR
FY25 150B IDR
Character of growth · EPS growth decomposed (2014-2025) −4.3 % p.a.
Revenue per share −1.5 pp

of which total revenue −1.5 pp · buybacks/dilution +0.0 pp

EBIT margin −3.8 pp
Tax rate +0.4 pp
Residual (interest, one-offs) +0.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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PT Delta Djakarta Tbk · Fair Value
3,932 IDR +120%Fair Value
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Cite: Fair Value Calculator (2026). "PT Delta Djakarta Tbk Fair Value". https://www.fairvalue-calculator.com/stock/DLTA

Peer Group

Beverages - Brewers · 52 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 83 · Top 25%
Fair Value upside +120% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) 19% · Above median
Revenue growth 8% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.07× · Higher than median

Valuation Multiples vs Beverages - Brewers median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 1.87× · Cheaper than median
P/S (TTM) 2.06× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.9× · 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 100 · sector 33
FUTURE 41 · sector 3
PAST 72 · sector 36
HEALTH 97 · sector 97
DIVIDEND 0 · sector 54

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

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

Similar stocks

10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Anheuser-Busch InBev SA 1ABI €73.62 €41.60 -43%
Ambev S.A ABEV 14,120 ARS 6,060 ARS -57%
Fomento Económico Mexicano, S.A. FEMSAUBD 222.91 MXN 201.74 MXN -9%
Heineken N.V HEIA €77.24 €65.06 -16%
Constellation Brands, Inc STZ $135.72 $177.43 +31%
Carlsberg A/S CARLA kr 1,125 kr 607.30 -46%
Heineken Holding HEIO €71.20 €72.67 +2%
Tsingtao Brewery Company 600600 ¥53.60 ¥63.65 +19%
Budweiser Brewing Company 1876 HK$6.58 HK$6.05 -8%
Molson Coors Canada Inc TPXA C$63.10 C$74.42 +18%

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Frequently asked questions

Is PT Delta Djakarta Tbk (DLTA) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 3,932 IDR versus a price of 1,790 IDR, about +120% (undervalued).
What is the fair value of DLTA?
Our model-based fair value for PT Delta Djakarta Tbk is 3,932 IDR (as of Jul 20, 2026), built from audited fundamentals. The current price is 1,790 IDR.
What is the quality score of DLTA?
PT Delta Djakarta Tbk has a Quality Score of 83/100. 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 Delta Djakarta Tbk (DLTA)?
PT Delta Djakarta Tbk reported trailing-twelve-month revenue of about 687B IDR (latest available figure, as of Jul 20, 2026).
What is the net profit margin of DLTA?
The net profit margin of PT Delta Djakarta Tbk is about 22.1%, meaning it keeps roughly 22.1% 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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