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PT FKS Multi Agro Tbk, (FISH) Fair Value & Analysis

Consumer Defensive · ID · Market cap 3.1T IDR

PF PT FKS Multi Agro Tbk, FISH · JK
Price610.00 IDR
Fair Value722.36 IDR
Upside+18.4%
Quality55/100
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Healthy Growth
Thin margins · 1.0% net margin
Low debt · generates free cash flow
Trails peers (5/14)
Narrow moat 34/100
Evidence: High Range 541.77 IDR – 902.95 IDR Share as image

Fair value as of: Jul 16, 2026

From 21 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 1,077 IDR to 722.36 IDR (−32.9%) since Jun 24, 2026. Share price −5.4% over the past month.

A solid business, screening 18% undervalued on our models.

What matters now

  • Our model range runs from 541.77 IDR (bear) to 902.95 IDR (bull), base 722.36 IDR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 55/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

977,236 IDR 547.25 IDR Fair Value 722.36 IDR Feb 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

60‑month range 547.25 IDR – 977,236 IDR · fair‑value band 541.77 IDR – 902.95 IDR · the 610.00 IDR price screens below the 722.36 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT FKS Multi Agro Tbk, (FISH) currently trades at 610.00 IDR, while our model-based Fair Value estimate is 722.36 IDR, implying the stock looks roughly 18.4% undervalued today. The Quality Score stands at 55/100 (solid 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 FKS Multi Agro Tbk, generated revenue of 1.2B IDR at a net margin of 1.0%. Revenue declined 6.8% year over year. It earns a return on equity of 6.9%. Net debt stands at 57.8M IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 541.77 IDR (bear case) to 902.95 IDR (bull case); at 610.00 IDR, the current price sits within 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. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at 18%, FISH 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 541.77 IDR 722.36 IDR 1,084 IDR 80
Residual Income 541.77 IDR 541.77 IDR 541.77 IDR 76
ROIC Compounder 902.95 IDR 902.95 IDR 1,084 IDR 72
All 21 models by family
DCF Models
FCF DCF 541.77 IDR 722.36 IDR 1,084 IDR 38
Owner Earnings 541.77 IDR 722.36 IDR 1,084 IDR 31
5Y Revenue Exit 722.36 IDR 1,264 IDR 1,806 IDR 39
5Y EBITDA Exit 1,084 IDR 1,625 IDR 2,348 IDR 41
5Y P/E Exit 541.77 IDR 722.36 IDR 1,084 IDR 38
10Y Revenue Exit 722.36 IDR 1,084 IDR 1,445 IDR 36
10Y EBITDA Exit 902.95 IDR 1,264 IDR 1,806 IDR 37
10Y P/E Exit 541.77 IDR 722.36 IDR 902.95 IDR 35
Earnings-Based
Graham-Dodd 180.59 IDR 361.18 IDR 541.77 IDR 54
EPV 722.36 IDR 902.95 IDR 1,084 IDR 59
Multiples
P/E Multiple 541.77 IDR 722.36 IDR 902.95 IDR 63
P/S Multiple 361.18 IDR 541.77 IDR 722.36 IDR 58
P/B Multiple 361.18 IDR 541.77 IDR 722.36 IDR 55
EV/EBIT 1,445 IDR 1,806 IDR 2,348 IDR 53
EV/EBITDA 1,445 IDR 1,986 IDR 2,348 IDR 54
EV/Revenue 1,084 IDR 1,445 IDR 1,806 IDR 43
Asset-Based
NCAV (Graham) 361.18 IDR 361.18 IDR 722.36 IDR 50
Growth DCF
Growth DCF 541.77 IDR 722.36 IDR 1,084 IDR 80
Economic Profit
Residual Income 541.77 IDR 541.77 IDR 541.77 IDR 76
ROIC Compounder 902.95 IDR 902.95 IDR 1,084 IDR 72
Growth Earnings
Growth-Adj P/E 361.18 IDR 541.77 IDR 722.36 IDR 68

Widest divergence: DCF Models (722.36 IDR) versus Earnings-Based (361.18 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.2B IDR
Revenue growth (YoY) -6.8%
Net margin 1.0%
Return on equity 6.9%
Free cash flow 10.8M IDR FY2025
P/E ratio 12.1
More key figures
Operating margin 3.8%
EPS (TTM) 54.01 IDR
EPS growth (YoY) +61.7%
Net debt 57.8M IDR FY2025

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

Quality Score breakdown

Overall quality 55/100

Of which business quality 54 · Market factors (momentum, volatility) 12

Profitability 39
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 29
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 0
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 FKS Multi Agro Tbk, together with its subsidiaries, supplies food and feed ingredients in Indonesia. It operates through Trading and Distribution, Manufacturing, and Logistic segments.

Full company description

PT FKS Multi Agro Tbk, together with its subsidiaries, supplies food and feed ingredients in Indonesia. It operates through Trading and Distribution, Manufacturing, and Logistic segments. The company provides food ingredients, such as soybean; sugar, wheat flour, rice flour, corn flour, tapioca flour, chips, wafer sticks, and candies; and dry noodles, vermicelli, and rice. It also offers feed Ingredients, including soyabean and rapeseed meal, corn gluten feed, wheat bran, fishmeal and fish oil, meat bone meal, poultry meat meal, and mono and DI calcium phosphate. In addition, the company provides port-to-door solutions; port handling and stevedoring; warehousing; transportation; and value-added services, such as automatic bagging and advanced management systems. Further, it is involved in the trading; loading and unloading; and programming services. The company was formerly known as PT Fishindo Kusuma Sejahtera and changed its name to PT FKS Multi Agro Tbk in June 2006. PT FKS Multi Agro Tbk was incorporated in 1992 and is based in Jakarta, Indonesia. The company operates as a subsidiary of PT FKS Corporindo Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT FKS Multi Agro Tbk, reported revenue of 1.2B IDR in FY2025 versus 1.2B IDR in FY2021, a compound −1.6%/yr. Reported net income was 8.6M IDR in FY2025, compounding −26.1%/yr from FY2021.

Growth Quality 63/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.2B IDR
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.
+1.5%
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.
+4.8%
Avg. growth/yr (24Y) 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.
−11.1%
Revenue −1.6%/yr
FY21 1.2B IDR
FY22 1.6B IDR
FY23 1.4B IDR
FY24 1.3B IDR
FY25 1.2B IDR
Net income −26.1%/yr
FY21 28.9M IDR
FY22 32.2M IDR
FY23 24.2M IDR
FY24 8.7M IDR
FY25 8.6M IDR
Character of growth · EPS growth decomposed (2014-2025) +1.2 % p.a.
Revenue per share +2.2 pp

of which total revenue +2.2 pp · buybacks/dilution +0.0 pp

EBIT margin +2.6 pp
Tax rate −0.9 pp
Residual (interest, one-offs) −2.7 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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Cite: Fair Value Calculator (2026). "PT FKS Multi Agro Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/FISH

Peer Group

Food Distribution · 77 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 55 · Above median
Fair Value upside +18% · Above median
Return on equity (TTM) 7% · Below median
Return on assets 3% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 4% · Above median
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.28× · Higher than median

Valuation Multiples vs Food Distribution median · lower = cheaper

P/E (TTM) 12.1× · Cheaper than median
P/B 1.86× · Pricier than median
P/S (TTM) 0.27× · Cheaper than median
P/FCF 29.1× · Pricier than 75% of peers
EV/EBITDA 8.5× · Pricier than median

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 58 · sector 21
FUTURE 0 · sector 14
PAST 28 · sector 36
HEALTH 86 · sector 94
DIVIDEND 0 · sector 42

Insider activity: 45/100

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

Stock Price Fair Value vs Fair Value
Sysco Corporation SYY $81.69 $60.58 -26%
US Foods Holding USFD $99.13 $55.10 -44%
Performance Food Group PFGC $113.17 $37.94 -66%
Jerónimo Martins, SGPS, S.A JMT €17.68 €21.59 +22%
CP Axtra Public Company CPAXT 14.90 THB 17.04 THB +14%
The Chefs' Warehouse, Inc CHEF $95.79 $37.27 -61%
Olam Group VC2 1.33 SGD 2.12 SGD +59%
United Natural Foods, Inc UNFI $50.19 $6.00 -88%
The Andersons, Inc ANDE $79.24 $47.78 -40%
Metcash Limited MTS A$2.92 A$5.33 +83%

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Frequently asked questions

Is PT FKS Multi Agro Tbk, (FISH) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 722.36 IDR versus a price of 610.00 IDR, about +18% (undervalued).
What is the fair value of FISH?
Our model-based fair value for PT FKS Multi Agro Tbk, is 722.36 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 610.00 IDR.
What is the quality score of FISH?
PT FKS Multi Agro Tbk, has a Quality Score of 55/100. 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 FKS Multi Agro Tbk, (FISH)?
PT FKS Multi Agro Tbk, reported trailing-twelve-month revenue of about 1.2B IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of FISH?
The net profit margin of PT FKS Multi Agro Tbk, is about 1.0%, meaning it keeps roughly 1.0% 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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