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PT Dharma Polimetal Tbk, through its subsidiaries, (DRMA) Fair Value & Analysis

Consumer Cyclical · ID · Market cap 4.2T IDR

PD PT Dharma Polimetal Tbk, through its subsidiaries, DRMA · JK
Price965.00 IDR
Fair Value1,743 IDR
Upside+80.6%
Quality65/100
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Healthy Growth
Solidly profitable · 10.9% net margin
Low debt · generates free cash flow
Ranks above peers (13/14)
Moderate moat 63/100
Evidence: Medium Range 1,319 IDR – 2,632 IDR Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 26 days ago

Fair value updated Jul 16, 2026, revised from 2,543 IDR to 1,743 IDR (−31.5%) since Jun 25, 2026. Share price +7.2% over the past month.

A solid business, screening 81% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1,319 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (1,319 IDR to 2,632 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1,497 IDR 389.77 IDR Fair Value 1,743 IDR Dec 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

56‑month range 389.77 IDR – 1,497 IDR · fair‑value band 1,319 IDR – 2,632 IDR · the 965.00 IDR price screens below the 1,743 IDR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Dharma Polimetal Tbk, through its subsidiaries, (DRMA) currently trades at 965.00 IDR, while our model-based Fair Value estimate is 1,743 IDR, implying the stock looks roughly 80.6% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Consumer Cyclical 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: medium), always confirm before acting.

Over the trailing twelve months, PT Dharma Polimetal Tbk, through its subsidiaries, generated revenue of 6.0T IDR at a net margin of 10.9%. Revenue grew 5.9% year over year. It earns a return on equity of 23.5%. The balance sheet holds a net cash position of 314B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 1,319 IDR (bear case) to 2,632 IDR (bull case); at 965.00 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 14% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 81%, DRMA 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 1,995 IDR 3,678 IDR 6,828 IDR 80
Residual Income 963.90 IDR 1,294 IDR 7,073 IDR 76
Rev-Margin DCF 1,424 IDR 2,379 IDR 3,662 IDR 74
All 24 models by family
DCF Models
FCF DCF 2,022 IDR 3,888 IDR 7,457 IDR 38
Owner Earnings 1,991 IDR 3,827 IDR 7,339 IDR 31
5Y Revenue Exit 1,424 IDR 2,401 IDR 3,741 IDR 39
5Y EBITDA Exit 1,900 IDR 3,420 IDR 5,377 IDR 41
5Y P/E Exit 2,185 IDR 4,029 IDR 6,210 IDR 38
10Y Revenue Exit 1,560 IDR 2,589 IDR 4,206 IDR 36
10Y EBITDA Exit 1,928 IDR 3,369 IDR 5,659 IDR 37
10Y P/E Exit 2,124 IDR 3,835 IDR 6,400 IDR 35
Earnings-Based
Graham-Dodd 942.98 IDR 4,936 IDR 6,829 IDR 54
Lynch FV 1,354 IDR 1,935 IDR 2,515 IDR 50
PEG = 1.0 1,354 IDR 1,935 IDR 2,515 IDR 46
EPV 1,216 IDR 1,413 IDR 1,587 IDR 59
Multiples
P/E Multiple 2,288 IDR 3,051 IDR 3,814 IDR 63
P/S Multiple 1,136 IDR 1,515 IDR 1,893 IDR 58
P/B Multiple 1,768 IDR 2,357 IDR 2,947 IDR 55
EV/EBIT 2,084 IDR 2,744 IDR 3,404 IDR 53
EV/EBITDA 1,961 IDR 2,580 IDR 3,199 IDR 54
EV/Revenue 1,164 IDR 1,618 IDR 2,072 IDR 43
Asset-Based
NCAV (Graham) 294.92 IDR 395.20 IDR 589.85 IDR 50
Growth DCF
Growth DCF 1,995 IDR 3,678 IDR 6,828 IDR 80
Rev-Margin DCF 1,424 IDR 2,379 IDR 3,662 IDR 74
Economic Profit
Residual Income 963.90 IDR 1,294 IDR 7,073 IDR 76
ROIC Compounder 1,407 IDR 1,916 IDR 2,601 IDR 72
Growth Earnings
Growth-Adj P/E 2,068 IDR 2,954 IDR 3,840 IDR 68

Widest divergence: DCF Models (3,420 IDR) versus Asset-Based (395.20 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 6.0T IDR
Revenue growth (YoY) +5.9%
Net margin 10.9%
Return on equity 23.5%
Free cash flow 630B IDR FY2025
P/E ratio 6.4
More key figures
Operating margin 11.4%
EPS (TTM) 140.04 IDR
EPS growth (YoY) +1.5%
Net cash 314B IDR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 66 · Market factors (momentum, volatility) 54

Profitability 73
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 46
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 Dharma Polimetal Tbk, through its subsidiaries, manufactures and sells automotive components and metal finishing for motorcycles and cars in Indonesia.

Full company description

PT Dharma Polimetal Tbk, through its subsidiaries, manufactures and sells automotive components and metal finishing for motorcycles and cars in Indonesia. The company offers frame body, muffler, wheel rim, steering handle, grab rail, main stand, step bar component, swing arm, arm cushion, and fastener for motorcycles and reinforcement sub assy instrument panel and beam comp steering hanger, hood lock, cross member frame, general parts, and suspension member for automobiles. It also operates advance manufacturing facility, such as integrated stamping facility; cold forging; machining; CNC/ NC bending; manual and robotic welding; robotic spot welding; and special propose machine, including finishing processes facilities, such as nickel chrome platting, acid zinc platting, spray painting with robot paint, cathode electro dipping (CED) painting, and heat treatment facility. Additionally, the company provides link assy, pipe comp exhaust assy and muffler assy, forging parts and aluminium casting component, shock absorber component, transmission handle component, plate RR cross, footrest, bar comp side stand, grabrail, mainstand, steering handle, body comp muffler and pipe comp exhaust, bracket absorber component, swing arm component, throttle and brake component, muffler comp, double seat, and crankcase. Further, it offers control cables, manufacturing supporting tools, plastic injection, electrical standard accessories, EV component and energy systems, and other related products. PT Dharma Polimetal Tbk was founded in 1989 and is headquartered in Cikarang, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Dharma Polimetal Tbk, through its subsidiaries, reported revenue of 5.9T IDR in FY2025 versus 2.9T IDR in FY2021, a compound +19.5%/yr. Reported net income was 653B IDR in FY2025, compounding +21.3%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
5.9T IDR
Latest YoY
+7.8%
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.
+15.0%
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.
+25.9%
Avg. growth/yr (7Y) 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.
+13.5%
Revenue +19.5%/yr
FY21 2.9T IDR
FY22 3.9T IDR
FY23 5.5T IDR
FY24 5.5T IDR
FY25 5.9T IDR
Net income +21.3%/yr
FY21 301B IDR
FY22 394B IDR
FY23 612B IDR
FY24 579B IDR
FY25 653B IDR

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Cite: Fair Value Calculator (2026). "PT Dharma Polimetal Tbk, through its subsidiaries, Fair Value". https://www.fairvalue-calculator.com/stock/DRMA

Peer Group

Auto Parts · 641 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 65 · Top 25%
Fair Value upside +81% · Top 25%
Return on equity (TTM) 24% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 11% · Top 25%
Revenue growth 6% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 6.4× · Cheaper than 75% of peers
P/B 1.53× · Cheaper than median
P/S (TTM) 0.70× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.6× · 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 16
FUTURE 30 · sector 24
PAST 94 · sector 26
HEALTH 98 · sector 95
DIVIDEND 0 · sector 30

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 Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 482,000 KRW 678,420 KRW +41%
Magna International Inc MGAN 1,122 MXN 1,172 MXN +4%
Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is PT Dharma Polimetal Tbk, through its subsidiaries, (DRMA) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 1,743 IDR versus a price of 965.00 IDR, about +81% (undervalued).
What is the fair value of DRMA?
Our model-based fair value for PT Dharma Polimetal Tbk, through its subsidiaries, is 1,743 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 965.00 IDR.
What is the quality score of DRMA?
PT Dharma Polimetal Tbk, through its subsidiaries, has a Quality Score of 65/100. 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 Dharma Polimetal Tbk, through its subsidiaries, (DRMA)?
PT Dharma Polimetal Tbk, through its subsidiaries, reported trailing-twelve-month revenue of about 6.0T IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of DRMA?
The net profit margin of PT Dharma Polimetal Tbk, through its subsidiaries, is about 10.9%, meaning it keeps roughly 10.9% 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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