Indoritel Makmur Internasional (DNET) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Indoritel Makmur Internasional IDR 1,043, price IDR 9,725, upside -89.3%, quality 50 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 24, 2026.
How to read this chart
60‑month range 3,148 IDR – 11,294 IDR · fair‑value band 865.24 IDR – 1,879 IDR · the 9,725 IDR price screens above the 1,043 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT Indoritel Makmur Internasional Tbk., together with its subsidiaries, provides optical fiber-based telecommunication data connection services primarily in Indonesia.
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PT Indoritel Makmur Internasional Tbk., together with its subsidiaries, provides optical fiber-based telecommunication data connection services primarily in Indonesia. The company offers optical fiber-based telecommunication data service products for home (fiber to the home)/broadband FTTH customers to telecommunications operators and internet service provider companies. It is also involved in the e-commerce businesses; rental of access points; and provision of installation, and repair and maintenance services. The company was formerly known as PT Dyviacom Intrabumi, Tbk. and changed its name to PT Indoritel Makmur Internasional Tbk. in June 2013. PT Indoritel Makmur Internasional Tbk. was founded in 1995 and is based in Jakarta Selatan, Indonesia.
Stock analysis
Indoritel Makmur Internasional (DNET) currently trades at 9,725 IDR, while our model-based Fair Value estimate is 1,043 IDR, implying the stock looks roughly 832.8% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 4,113 IDR per share, and 0 of the 13 models we run sit above the 9,725 IDR price.
Bear case: the Multiples group reads lowest at 471.20 IDR, and 13 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 865.24 IDR (bear) to 1,879 IDR (bull), the price of 9,725 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 50/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Indoritel Makmur Internasional reported revenue of 1.7T IDR in FY2025 versus 844B IDR in FY2021, a compound +19.1%/yr. Reported net income was 1.3T IDR in FY2025, compounding +7.9%/yr from FY2021.
Key figures
Market cap 138T IDR (≈ $13.8B) · P/E ratio 107.9 · P/S ratio 79.8 · EPS (TTM) 90.16 IDR · Dividend yield 0.1% · Net margin 74.0% · Return on equity 8.7% · Return on assets (EBIT) 4.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 11% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 47% fair-value upside, at −89%, DNET screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (80.49 IDR to 4,198 IDR). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 865.24 IDRFair Value 1,043 IDRBull 1,879 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 (65.95 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.49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.9%
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.
+14.2%
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.
+28.3%
Start year 2020 (pandemic). Over 10 years: +68.5% a year
Revenue growth 24 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.
+24.5%
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What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+19.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.1%
Dividend (yield on the price)0.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19% vs 12%, picking up
Profit margin 2020 to 2025 ⓘ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.79% → 17%
Compare Indoritel Makmur Internasional 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.Telecom Services · 252 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−89% · Bottom 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets1% · Bottom 25%
Net margin (TTM)74% · Top 25%
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth12% · Top 25%
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.41× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (TTM)107.9× · Priciest 25%
P/B9.07× · Priciest 25%
P/S (TTM)79.15× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)60· sector 16
PAST (return on equity)35· sector 29
HEALTH (low debt)79· sector 83
DIVIDEND (yield)1· sector 77
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.
Cite: Fair Value Calculator (2026). "Indoritel Makmur Internasional Fair Value". https://www.fairvalue-calculator.com/stock/DNET
Frequently asked questions
Is Indoritel Makmur Internasional (DNET) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,043 IDR versus a price of 9,725 IDR, about −89% upside (overvalued).
What is the fair value of DNET?
Our model-based fair value for Indoritel Makmur Internasional is 1,043 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 9,725 IDR.
What is the quality score of DNET?
Indoritel Makmur Internasional has a Quality Score of 50/100. 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 Indoritel Makmur Internasional (DNET)?
Our model-based price target is the fair value of 1,043 IDR (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 865.24 IDR, optimistic scenario 1,879 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Indoritel Makmur Internasional stock forecast for 2026?
Our models put fair value at 1,043 IDR, about −89% upside versus a price of 9,725 IDR (overvalued). Cautious scenario 865.24 IDR, optimistic scenario 1,879 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Indoritel Makmur Internasional (DNET)?
Indoritel Makmur Internasional reported trailing-twelve-month revenue of about 1.7T IDR (latest available figure, as of Sep 24, 2026).
Does Indoritel Makmur Internasional pay a dividend?
Indoritel Makmur Internasional currently shows a dividend yield of about 0.05% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Indoritel Makmur Internasional (DNET)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indoritel Makmur Internasional it is 1,043 IDR per share (as of Sep 24, 2026), against a price of 9,725 IDR. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Indoritel Makmur Internasional stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DNET trades above its calculated fair value: price 9,725 IDR, fair value 1,043 IDR, a gap of about −89% (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 DNET?
No. The price is what the market pays today (9,725 IDR); the fair value is what the company's own numbers justify (1,043 IDR). For Indoritel Makmur Internasional the two are 8,682 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Indoritel Makmur Internasional worth?
The market values Indoritel Makmur Internasional at about 138T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 9,725 IDR; our models calculate a fair value of 1,043 IDR per share.
What do the bullish and bearish scenarios say about DNET?
Our models span a range for Indoritel Makmur Internasional: cautious scenario 865.24 IDR, base 1,043 IDR, optimistic 1,879 IDR per share (as of Sep 24, 2026, price 9,725 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DNET?
Indoritel Makmur Internasional trades at a price-to-earnings ratio of 107.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,043 IDR is built from several models across several years. Other multiples: P/B 9.1, P/S 79.1.
How solid is the balance sheet of Indoritel Makmur Internasional (DNET)?
Balance-sheet figures for Indoritel Makmur Internasional (as of Sep 24, 2026): return on equity 8.7%, debt of 0.41 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is DNET from its 52-week high?
Indoritel Makmur Internasional trades at 9,725 IDR, about 11% below its 52-week high of 10,950 IDR and 11% above the low of 8,725 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,043 IDR is for.
Which stocks are comparable to Indoritel Makmur Internasional?
From the same area (Communication Services) we also value China Mobile Limited, T-Mobile US, Inc, Verizon Communications Inc, AT&T Inc, 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 Indoritel Makmur Internasional stock attractive at the current price?
The data as of Sep 24, 2026: price 9,725 IDR, calculated fair value 1,043 IDR (−89%), Quality Score 50/100, 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 DNET calculated?
We run Indoritel Makmur Internasional 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 1,043 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. Indoritel Makmur Internasional 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 Indoritel Makmur Internasional (DNET)?
The closing price on Sep 23, 2026 was 9,725 IDR. Our model-based fair value is 1,043 IDR, about −89% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indoritel Makmur Internasional right now?
The price sits above even our optimistic bull case (1,879 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 (50/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (865.24 IDR to 1,879 IDR) leaves room in how you read the outcome.
Where does the earnings growth of Indoritel Makmur Internasional (DNET) come from?
Earnings per share at Indoritel Makmur Internasional grew +10.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +72.3 %, EBIT margin −37.0 %, tax rate −0.5 %, residual (interest, one-offs) +2.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Indoritel Makmur Internasional
How large is the market capitalisation of Indoritel Makmur Internasional (DNET)?
The market capitalisation of Indoritel Makmur Internasional is 138T IDR (≈ $13.8B). 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 Indoritel Makmur Internasional (DNET)?
The price-to-sales ratio of Indoritel Makmur Internasional is 79.8 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Indoritel Makmur Internasional (DNET)?
Earnings per share at Indoritel Makmur Internasional are 90.16 IDR (price ÷ EPS = P/E 107.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Indoritel Makmur Internasional (DNET)?
The dividend yield of Indoritel Makmur Internasional is 0.1% (payout 5.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Indoritel Makmur Internasional (DNET)?
The net margin of Indoritel Makmur Internasional is 74.0% (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 Indoritel Makmur Internasional (DNET)?
The return on equity (ROE) of Indoritel Makmur Internasional is 8.7% (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 Indoritel Makmur Internasional (DNET)?
On an EBIT basis the return on assets of Indoritel Makmur Internasional is 4.8% (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 Indoritel Makmur Internasional (DNET)?
The operating margin of Indoritel Makmur Internasional is 13.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indoritel Makmur Internasional (DNET)?
Revenue at Indoritel Makmur Internasional is growing +12.0% versus a year earlier (3y avg +14.2%). 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 Indoritel Makmur Internasional (DNET)?
Earnings per share at Indoritel Makmur Internasional are growing +14.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Indoritel Makmur Internasional (DNET) generate?
The free cash flow of Indoritel Makmur Internasional is −327B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Indoritel Makmur Internasional (DNET) carry?
The net debt of Indoritel Makmur Internasional is 6.3T IDR (fiscal year 2025). 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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