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PT Darya-Varia Laboratoria Tbk (DVLA) Fair Value & Analysis

Healthcare · ID · Market cap 1.7T IDR

PD PT Darya-Varia Laboratoria Tbk DVLA · JK
Price1,580 IDR
Fair Value2,847 IDR
Upside+80.2%
Quality64/100
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Healthy Growth
Thin margins · 6.2% net margin
Low debt · generates free cash flow
Ranks above peers (13/14)
Moderate moat 45/100
Evidence: High Range 1,764 IDR – 4,025 IDR Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Share price +2.3% over the past month.

A solid business, screening 80% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1,764 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (1,764 IDR to 4,025 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

2,276 IDR 1,170 IDR Fair Value 2,847 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 1,170 IDR – 2,276 IDR · fair‑value band 1,764 IDR – 4,025 IDR · the 1,580 IDR price screens below the 2,847 IDR fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

PT Darya-Varia Laboratoria Tbk (DVLA) currently trades at 1,580 IDR, while our model-based Fair Value estimate is 2,847 IDR, implying the stock looks roughly 80.2% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Healthcare 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 Darya-Varia Laboratoria Tbk generated revenue of 2.3T IDR at a net margin of 6.2%. Revenue grew 9.3% year over year. It earns a return on equity of 9.2%. The balance sheet holds a net cash position of 341B IDR. Fundamentals as of Jul 14, 2026

Our scenario range runs from 1,764 IDR (bear case) to 4,025 IDR (bull case); at 1,580 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 7% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 80%, DVLA 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 1,292 IDR 1,838 IDR 2,665 IDR 80
Residual Income 1,214 IDR 1,415 IDR 2,746 IDR 76
Rev-Margin DCF 1,685 IDR 2,669 IDR 3,803 IDR 74
All 24 models by family
DCF Models
FCF DCF 1,272 IDR 1,887 IDR 2,879 IDR 38
Owner Earnings 1,661 IDR 2,513 IDR 3,887 IDR 31
5Y Revenue Exit 1,685 IDR 2,684 IDR 3,977 IDR 39
5Y EBITDA Exit 2,178 IDR 3,612 IDR 5,306 IDR 41
5Y P/E Exit 2,037 IDR 3,348 IDR 4,737 IDR 38
10Y Revenue Exit 1,478 IDR 2,374 IDR 3,608 IDR 36
10Y EBITDA Exit 1,855 IDR 3,035 IDR 4,651 IDR 37
10Y P/E Exit 1,764 IDR 2,847 IDR 4,204 IDR 35
Earnings-Based
Graham-Dodd 995.39 IDR 3,180 IDR 4,241 IDR 54
Lynch FV 702.92 IDR 1,004 IDR 1,305 IDR 50
PEG = 1.0 702.92 IDR 1,004 IDR 1,305 IDR 46
EPV 1,630 IDR 1,872 IDR 2,086 IDR 59
Multiples
P/E Multiple 2,415 IDR 3,220 IDR 4,025 IDR 63
P/S Multiple 1,866 IDR 2,488 IDR 3,111 IDR 58
P/B Multiple 1,866 IDR 2,488 IDR 3,111 IDR 55
EV/EBIT 2,647 IDR 3,441 IDR 4,236 IDR 53
EV/EBITDA 2,913 IDR 3,797 IDR 4,681 IDR 54
EV/Revenue 1,964 IDR 2,693 IDR 3,423 IDR 43
Asset-Based
NCAV (Graham) 660.64 IDR 885.25 IDR 1,321 IDR 50
Growth DCF
Growth DCF 1,292 IDR 1,838 IDR 2,665 IDR 80
Rev-Margin DCF 1,685 IDR 2,669 IDR 3,803 IDR 74
Economic Profit
Residual Income 1,214 IDR 1,415 IDR 2,746 IDR 76
ROIC Compounder 1,707 IDR 2,141 IDR 2,696 IDR 72
Growth Earnings
Growth-Adj P/E 2,005 IDR 2,865 IDR 3,724 IDR 68

Widest divergence: Growth Earnings (2,865 IDR) versus Asset-Based (885.25 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.3T IDR
Revenue growth (YoY) +9.3%
Net margin 6.2%
Return on equity 9.2%
Free cash flow 93.8B IDR FY2025
P/E ratio 11.7
More key figures
Operating margin 12.0%
EPS (TTM) 124.98 IDR
EPS growth (YoY) -29.9%
Net cash 341B IDR FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 63

Profitability 59
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 57
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 Darya-Varia Laboratoria Tbk manufactures and trades pharmaceutical products and cosmetics in Indonesia. It operates in four segments: Consumer Health Products, Prescription Drugs, Export & Toll Manufacturing, and Services.

Full company description

PT Darya-Varia Laboratoria Tbk manufactures and trades pharmaceutical products and cosmetics in Indonesia. It operates in four segments: Consumer Health Products, Prescription Drugs, Export & Toll Manufacturing, and Services. The company offers consumer health products, including skin nutrition products under the Natur-E brand; respiratory products under the Decolgen, ALLERIN EXPECTORANT, Decolsin, NEOZEP, STOP COLD, SILEX, and HERBABLEND brands for nasal congestion, cough, and breathing issues caused by allergy; multivitamins under the Enervon-C, Enervon Active, Enervon Gold, and Supertin brands; vitamin C under the Vicee brand; supplement for kids with Zinc and vitamin C under the Imunped brand; Biogesic for various types of pain; Diatabs, a anti diarrhea product; and New Enzyplex to prevent indigestion. It also provides prescription products for various therapeutic areas, including cardiology, analgesics, gastro-hepatology, dermamedic, somatic, cough and cold, antibiotic, women healthcare, antiparasit, vitamin and food supplements, anti fungal, plastic surgery, general surgery, burn, trauma wound, aesthetic medicine, somatik, ear healthcare, and central nerve systems. In addition, the company offers toll manufacturing services for soft gelatin capsules, as well as sterile injections and low volume solid products. It also exports its products. The company was founded in 1976 and is headquartered in Jakarta, Indonesia. PT Darya-Varia Laboratoria Tbk operates as a subsidiary of Blue Sphere Singapore Pte. Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Darya-Varia Laboratoria Tbk reported revenue of 2.2T IDR in FY2025 versus 1.9T IDR in FY2021, a compound +4.1%/yr. Reported net income was 164B IDR in FY2025, compounding +2.9%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.2T IDR
Latest YoY
+6.9%
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.
+5.2%
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.
+4.1%
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.
+6.8%
Revenue +4.1%/yr
FY21 1.9T IDR
FY22 1.9T IDR
FY23 1.9T IDR
FY24 2.1T IDR
FY25 2.2T IDR
Net income +2.9%/yr
FY21 147B IDR
FY22 149B IDR
FY23 146B IDR
FY24 156B IDR
FY25 164B IDR
Character of growth · EPS growth decomposed (2014-2025) +3.5 % p.a.
Revenue per share +5.4 pp

of which total revenue +5.4 pp · buybacks/dilution +0.0 pp

EBIT margin −1.3 pp
Tax rate +0.3 pp
Residual (interest, one-offs) −0.8 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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Cite: Fair Value Calculator (2026). "PT Darya-Varia Laboratoria Tbk Fair Value". https://www.fairvalue-calculator.com/stock/DVLA

Peer Group

Drug Manufacturers - Specialty & Generic · 623 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 64 · Top 25%
Fair Value upside +80% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth 9% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 12.4× · Cheaper than 75% of peers
P/B 1.17× · Cheaper than median
P/S (TTM) 0.76× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 5.6× · 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 6
FUTURE 47 · sector 20
PAST 37 · sector 24
HEALTH 98 · sector 97
DIVIDEND 0 · sector 34

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is PT Darya-Varia Laboratoria Tbk (DVLA) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 2,847 IDR versus a price of 1,580 IDR, about +80% (undervalued).
What is the fair value of DVLA?
Our model-based fair value for PT Darya-Varia Laboratoria Tbk is 2,847 IDR (as of Jul 14, 2026), built from audited fundamentals. The current price is 1,580 IDR.
What is the quality score of DVLA?
PT Darya-Varia Laboratoria Tbk has a Quality Score of 64/100. 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 Darya-Varia Laboratoria Tbk (DVLA)?
PT Darya-Varia Laboratoria Tbk reported trailing-twelve-month revenue of about 2.3T IDR (latest available figure, as of Jul 14, 2026).
What is the net profit margin of DVLA?
The net profit margin of PT Darya-Varia Laboratoria Tbk is about 6.2%, meaning it keeps roughly 6.2% 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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