Erajaya Swasembada Tbk (ERAA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Erajaya Swasembada Tbk IDR 1,472, price IDR 610, upside +141.4%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Erajaya Swasembada Tbk, together with its subsidiaries, engages in the distribution and retail of mobile telecommunication devices in Indonesia, Singapore, Malaysia, and internationally. It operates through Cellular Phones and Tablets, Operator Products, Computer & Other Electronic Devices, and Accessories and Others segments.
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PT Erajaya Swasembada Tbk, together with its subsidiaries, engages in the distribution and retail of mobile telecommunication devices in Indonesia, Singapore, Malaysia, and internationally. It operates through Cellular Phones and Tablets, Operator Products, Computer & Other Electronic Devices, and Accessories and Others segments. The company offers consumer electronics, handsets, laptops, computers, operator business and vouchers under the Erafone store, iBox, Samsung, Mi-store, and other brands; and lifestyle-related products, such as accessories, Internet of Things, sport fashion apparel, and other outdoor activity-related products under the Urban Republic & JD Sports, ASICS, DJI, Garmin, Wilson, ANTA, and other brands. It is also involved in food and beverage businesses comprising chain restaurants, cafes and bakeries, and grocery stores under the Paris Baguette, Bacha Coffee, Curry Up, CHAGEE, Wetzel's Pretzels, and GrandLucky Superstore brands; and medical equipment distribution. In addition, the company provides cellular devices, information technology products and Apple's accessories products; cellular devices and prepaid, post-paid, and internet broadband services; SingTel products; skincare and beauty products; and electronic vouchers for telecommunication operators, PLN, and online games. Further, it offers protection services for handset products through TecProtec products; management consulting, technology, and outsourcing services; and managing and customer relationship services. The company was founded in 1996 and is headquartered in Jakarta Barat, Indonesia. PT Erajaya Swasembada Tbk operates as a subsidiary of PT Eralink International.
Stock analysis
Erajaya Swasembada Tbk (ERAA) currently trades at 610.00 IDR, while our model-based Fair Value estimate is 1,472 IDR, implying the stock looks roughly 58.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,675 IDR per share, and 13 of the 15 models we run sit above the 610.00 IDR price.
Bear case: the Asset-Based group reads lowest at 391.56 IDR, and 2 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: 988.06 IDR (bear) to 1,957 IDR (bull), the price of 610.00 IDR sits below 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 46/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Erajaya Swasembada Tbk reported revenue of 76.6T IDR in FY2025 versus 43.5T IDR in FY2021, a compound +15.2%/yr. Reported net income was 1.2T IDR in FY2025, compounding +4.3%/yr from FY2021.
Key figures
Market cap 9.6T IDR (≈ $538M) · P/E ratio 6.7 · P/S ratio 0.10 · EPS (TTM) 91.56 IDR · Net margin 1.6% · Return on equity 15.8% · Return on assets (EBIT) 10.0% · Operating margin 3.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 103% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 4% fair-value upside, at 141%, ERAA screens cheaper than that median.
Fair Value models
Bear 988.06 IDRFair Value 1,472 IDRBull 1,957 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 (67.23 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+17.4%
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.
+15.7%
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.
+17.6%
Start year 2020 (pandemic). Over 10 years: +14.4% a year
Revenue growth 17 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.
+20.1%
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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.
+14.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.5%
Dividend (yield on the price)0.0%
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.15% vs 17%, steady
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.3% → 2%
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.Specialty Retail · 229 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score46 · Bottom 25%
Fair Value upside+141% · Top 25%
Profitability
Return on equity (TTM)16% · Above median
Return on assets5% · Above median
Net margin (TTM)2% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth41% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Specialty Retail median · lower = cheaper
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Is Erajaya Swasembada Tbk (ERAA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,472 IDR versus a price of 610.00 IDR, about +141% upside (undervalued).
What is the fair value of ERAA?
Our model-based fair value for Erajaya Swasembada Tbk is 1,472 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 610.00 IDR.
What is the quality score of ERAA?
Erajaya Swasembada Tbk 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 price target for Erajaya Swasembada Tbk (ERAA)?
Our model-based price target is the fair value of 1,472 IDR (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 988.06 IDR, optimistic scenario 1,957 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Erajaya Swasembada Tbk stock forecast for 2026?
Our models put fair value at 1,472 IDR, about +141% upside versus a price of 610.00 IDR (undervalued). Cautious scenario 988.06 IDR, optimistic scenario 1,957 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Erajaya Swasembada Tbk (ERAA)?
Erajaya Swasembada Tbk reported trailing-twelve-month revenue of about 83.1T IDR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Erajaya Swasembada Tbk (ERAA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Erajaya Swasembada Tbk it is 1,472 IDR per share (as of Sep 24, 2026), against a price of 610.00 IDR. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Erajaya Swasembada Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ERAA trades below its calculated fair value: price 610.00 IDR, fair value 1,472 IDR, a gap of about +141% (undervalued). 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 ERAA?
No. The price is what the market pays today (610.00 IDR); the fair value is what the company's own numbers justify (1,472 IDR). For Erajaya Swasembada Tbk the two are 862.31 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Erajaya Swasembada Tbk worth?
The market values Erajaya Swasembada Tbk at about 9.6T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 610.00 IDR; our models calculate a fair value of 1,472 IDR per share.
What do the bullish and bearish scenarios say about ERAA?
Our models span a range for Erajaya Swasembada Tbk: cautious scenario 988.06 IDR, base 1,472 IDR, optimistic 1,957 IDR per share (as of Sep 24, 2026, price 610.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ERAA?
Erajaya Swasembada Tbk trades at a price-to-earnings ratio of 6.7 (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 1,472 IDR is built from several models across several years. Other multiples: P/B 1.1, P/S 0.1, EV/EBITDA 2.5.
How solid is the balance sheet of Erajaya Swasembada Tbk (ERAA)?
Balance-sheet figures for Erajaya Swasembada Tbk (as of Sep 24, 2026): return on equity 15.8%, debt of 0.05 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is ERAA from its 52-week high?
Erajaya Swasembada Tbk trades at 610.00 IDR, about 2% below its 52-week high of 625.00 IDR and 103% above the low of 300.01 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 1,472 IDR is for.
Which stocks are comparable to Erajaya Swasembada Tbk?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Casey's General Stores, Inc, Williams-Sonoma, Inc, Ulta Beauty, 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 Erajaya Swasembada Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 610.00 IDR, calculated fair value 1,472 IDR (+141%), Quality Score 46/100, from 15 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 ERAA calculated?
We run Erajaya Swasembada Tbk through 15 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 1,472 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 14.0 % above its aggregate fair value. Erajaya Swasembada Tbk currently trades 141 % below its own fair value, and the market average says nothing about that. 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 Erajaya Swasembada Tbk (ERAA)?
The closing price on Sep 24, 2026 was 610.00 IDR. Our model-based fair value is 1,472 IDR, about +141% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Erajaya Swasembada Tbk right now?
The price is below even our cautious bear case (988.06 IDR). The market is more pessimistic than our downside scenario. 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 quality (46/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (988.06 IDR to 1,957 IDR) leaves room in how you read the outcome.
Where does the earnings growth of Erajaya Swasembada Tbk (ERAA) come from?
Earnings per share at Erajaya Swasembada Tbk grew +16.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.5 %, EBIT margin +0.4 %, tax rate −0.1 %, residual (interest, one-offs) +1.6 %. 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 Erajaya Swasembada Tbk
How large is the market capitalisation of Erajaya Swasembada Tbk (ERAA)?
The market capitalisation of Erajaya Swasembada Tbk is 9.6T IDR (≈ $538M). 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 Erajaya Swasembada Tbk (ERAA)?
The price-to-sales ratio of Erajaya Swasembada Tbk is 0.10 (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 Erajaya Swasembada Tbk (ERAA)?
Earnings per share at Erajaya Swasembada Tbk are 91.56 IDR (price ÷ EPS = P/E 6.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Erajaya Swasembada Tbk (ERAA)?
The net margin of Erajaya Swasembada Tbk is 1.6% (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 Erajaya Swasembada Tbk (ERAA)?
The return on equity (ROE) of Erajaya Swasembada Tbk is 15.8% (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 Erajaya Swasembada Tbk (ERAA)?
On an EBIT basis the return on assets of Erajaya Swasembada Tbk is 10.0% (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 Erajaya Swasembada Tbk (ERAA)?
The operating margin of Erajaya Swasembada Tbk is 3.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Erajaya Swasembada Tbk (ERAA)?
Revenue at Erajaya Swasembada Tbk is growing +41.1% versus a year earlier (3y avg +15.7%). 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 Erajaya Swasembada Tbk (ERAA)?
Earnings per share at Erajaya Swasembada Tbk are growing +123% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Erajaya Swasembada Tbk (ERAA) generate?
The free cash flow of Erajaya Swasembada Tbk is −679B 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 Erajaya Swasembada Tbk (ERAA) carry?
The net debt of Erajaya Swasembada Tbk is 7.3T 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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