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Fortune Indonesia Tbk (FORU) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Fortune Indonesia Tbk IDR 45, price IDR 163, upside -72.1%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Communication Services · ID · ISIN ID1000080203

FI Thin data Sep 27, 2026

Fortune Indonesia Tbk

FORU · JK

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value 45.45 IDR · Strongly overvalued (−72.1%)
✓Quality 61/100
!Weak Growth (revenue 5y +1.2 %/yr)
!Loss-making · -29.4% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers (2/8)
!Narrow moat 6/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

7,000 IDR 131.25 IDR Fair Value 45.45 IDR Apr 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range 131.25 IDR – 7,000 IDR · fair‑value band 45.31 IDR – 45.56 IDR · the 163.00 IDR price screens above the 45.45 IDR fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

PT Fortune Indonesia Tbk provides integrated advertising and public relations services in Indonesia.

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PT Fortune Indonesia Tbk provides integrated advertising and public relations services in Indonesia. The company engages in consulting services; marketing and production communication strategies; planning and implementation consulting services; exhibition and interactive audio-visual services, including multimedia and event management; consulting and implementation of virtual communication services, including cyberspace communications; and planning and implementation of above-the-line medium media advertising shopping, including electronic, digital, and print, as well as below-the-line media, such as outdoor media, and media monitoring and analysis services. It also provides crisis management, investor relations, media relations, government relations, corporate, investigation, supervision marketing, and marketing intelligence and analysis. In addition, the company offers advertising, digital, and media services; and brand consultancy, media intelligence, creative communications, social marketing, and social media services. Further, it provides public relations-based integrated communication solutions; graphic design; and integrated marketing communication services, including media specialist, creative agency, and sports marketing services. The company was founded in 1970 and is based in Jakarta Selatan, Indonesia. PT Fortune Indonesia Tbk is a subsidiary of Imr Asia Holding Pte Ltd.

Stock analysis

Fortune Indonesia Tbk (FORU) currently trades at 163.00 IDR, while our model-based Fair Value estimate is 45.45 IDR, 72.1% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of 51.67 IDR per share, and 0 of the 12 models we run sit above the 163.00 IDR price.

Bear case: the Asset-Based group reads lowest at 33.67 IDR, and 12 of the 12 models stay below the price. Evidence for this calculation is low.

Scenario range: 45.31 IDR (bear) to 45.56 IDR (bull), the price of 163.00 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 61/100 (solid quality), in the Communication Services sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Fortune Indonesia Tbk reported revenue of 45.0B IDR in FY2025 versus 47.1B IDR in FY2021, a compound −1.1%/yr. Reported net income was −2.5B IDR in FY2025.

Key figures

Market cap 926B IDR (≈ $51.7M) · P/S ratio 29.7 · EPS (TTM) −19.64 IDR · Net margin −5.6% · Return on equity −44.5% · Return on assets (EBIT) −8.5% · Operating margin −65.4% · Revenue (TTM) 31.1B IDR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 96% below its 52-week high and at its 52-week low.

For context, the median of 10 Communication Services peers we cover trades at 23% fair-value upside, at −72%, FORU screens richer than that median.

Fair Value models

Bear 45.31 IDR Fair Value 45.45 IDR Bull 45.56 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. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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.
Highest evidence
FCF DCF 50.02 IDR 51.61 IDR 54.17 IDR 82
Growth DCF 50.18 IDR 51.67 IDR 53.89 IDR 80
5Y EBITDA Exit 61.12 IDR 71.73 IDR 85.76 IDR 77
All 12 models by family
DCF Models
FCF DCF 50.02 IDR 51.61 IDR 54.17 IDR 82
5Y Revenue Exit 48.85 IDR 50.53 IDR 52.95 IDR 74
5Y EBITDA Exit 61.12 IDR 71.73 IDR 85.76 IDR 77
10Y Revenue Exit 49.30 IDR 50.45 IDR 51.64 IDR 68
10Y EBITDA Exit 55.75 IDR 61.65 IDR 68.06 IDR 70
Earnings-Based
EPV 45.56 IDR 45.76 IDR 45.92 IDR 74
Multiples
EV/EBIT 49.47 IDR 51.33 IDR 53.19 IDR 66
EV/EBITDA 75.69 IDR 86.29 IDR 96.89 IDR 67
EV/Revenue 48.13 IDR 49.94 IDR 51.75 IDR 54
Asset-Based
NCAV (Graham) 25.13 IDR 33.67 IDR 50.25 IDR 54
Growth DCF
Growth DCF 50.18 IDR 51.67 IDR 53.89 IDR 80
Economic Profit
ROIC Compounder 45.56 IDR 45.76 IDR 45.92 IDR 72

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Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 21

Profitability 38
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 32/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+14.0%
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.
−1.3%
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.
+1.2%
Start year 2020 (pandemic). Over 10 years: −20.2% 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.
+0.1%
Profit margin (trend) ⓘ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.
−48.2% (2020) → 0.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+76.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about +72.4% a year for the price.

FORU screens overvalued: fair value 72% below the price. Compare with AppLovin Corporation →

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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.Advertising Agencies · 182 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 61 · Above median
Fair Value upside −72.1% · Bottom 25%
Profitability
Return on assets −13.6% · Bottom 25%
Net margin (TTM) −29.4% · Bottom 25%
Operating margin (TTM) −65.4% · Bottom 25%
Growth and dividend
Revenue growth −13.3% · Bottom 25%
Balance sheet
Debt / equity 0.01× · Below median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 30
FUTURE (revenue growth)0 · sector 13
PAST (return on equity)0 · sector 9
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 54

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

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The Trade Desk, Inc TTD $12.05 $43.84 +264%
WPP plc WPP $25.99 $39.72 +53%
Leo Group 002131 ¥4.31 ¥0.6000 −86%
Magnite, Inc MGNI $25.67 $28.24 +10%
Mobvista Inc 1860 HK$13.51 HK$12.22 −10%

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Cite: Fair Value Calculator (2026). "Fortune Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/FORU

Frequently asked questions

Is Fortune Indonesia Tbk (FORU) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 45.45 IDR versus a price of 163.00 IDR, about −72% upside (overvalued).
What is the fair value of FORU?
Our model-based fair value for Fortune Indonesia Tbk is 45.45 IDR (as of Sep 27, 2026), built from audited fundamentals. The current price: 163.00 IDR.
What is the quality score of FORU?
Fortune Indonesia Tbk has a Quality Score of 61/100. 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 Fortune Indonesia Tbk (FORU)?
Our model-based price target is the fair value of 45.45 IDR (as of Sep 27, 2026) from 12 valuation models. Cautious scenario 45.31 IDR, optimistic scenario 45.56 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Fortune Indonesia Tbk stock forecast for 2026?
Our models put fair value at 45.45 IDR, about −72% upside versus a price of 163.00 IDR (overvalued). Cautious scenario 45.31 IDR, optimistic scenario 45.56 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Fortune Indonesia Tbk (FORU)?
Fortune Indonesia Tbk reported trailing-twelve-month revenue of about 31.1B IDR (latest available figure, as of Sep 27, 2026).
What growth is priced into Fortune Indonesia Tbk (FORU)?
For today's price to be fair in a discounted-cash-flow model, Fortune Indonesia Tbk would have to grow free cash flow by +76.9 % per year for five years (discount rate 15.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.2 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of FORU use?
Our models discount Fortune Indonesia Tbk at 15.0 %: a base by market capitalisation (micro), country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fortune Indonesia Tbk that is +76.9 % per year a year over ten years, using the same discount rate (15.0 %) and the same formula as our fair value.
How much growth has Fortune Indonesia Tbk (FORU) delivered so far?
Over the past 5 years revenue at Fortune Indonesia Tbk grew +1.2 % a year. The price currently implies +76.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fortune Indonesia Tbk (FORU) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Fortune Indonesia Tbk (+76.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fortune Indonesia Tbk (FORU)?
The free-cash-flow yield on the price is 0.34 %: that much free cash flow Fortune Indonesia Tbk produces per unit of market value. When it exceeds the discount rate of our models (15.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fortune Indonesia Tbk (FORU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fortune Indonesia Tbk it is 45.45 IDR per share (as of Sep 27, 2026), against a price of 163.00 IDR. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Fortune Indonesia Tbk stock overvalued or undervalued in 2026?
As of Sep 27, 2026, FORU trades above its calculated fair value: price 163.00 IDR, fair value 45.45 IDR, a gap of about −72% (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 FORU?
No. The price is what the market pays today (163.00 IDR); the fair value is what the company's own numbers justify (45.45 IDR). For Fortune Indonesia Tbk the two are 117.55 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Fortune Indonesia Tbk worth?
The market values Fortune Indonesia Tbk at about 926B IDR (market capitalisation, as of Sep 27, 2026). Per share that is 163.00 IDR; our models calculate a fair value of 45.45 IDR per share.
What do the bullish and bearish scenarios say about FORU?
Our models span a range for Fortune Indonesia Tbk: cautious scenario 45.31 IDR, base 45.45 IDR, optimistic 45.56 IDR per share (as of Sep 27, 2026, price 163.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Fortune Indonesia Tbk (FORU)?
Balance-sheet figures for Fortune Indonesia Tbk (as of Sep 27, 2026): return on equity −44.5%, debt of 0.01 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is FORU from its 52-week high?
Fortune Indonesia Tbk trades at 163.00 IDR, about 96% below its 52-week high of 4,650 IDR and at the low of 163.00 IDR (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 45.45 IDR is for.
Which stocks are comparable to Fortune Indonesia Tbk?
From the same area (Communication Services) we also value AppLovin Corporation, Publicis Groupe S.A, Omnicom Group, Focus Media Information Technology Co, 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 Fortune Indonesia Tbk stock attractive at the current price?
The data as of Sep 27, 2026: price 163.00 IDR, calculated fair value 45.45 IDR (−72%), Quality Score 61/100, from 12 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 FORU calculated?
We run Fortune Indonesia Tbk through 12 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 45.45 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 14.5 % above its aggregate fair value. Fortune Indonesia Tbk 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 Fortune Indonesia Tbk (FORU)?
The closing price on Oct 2, 2026 was 163.00 IDR. Our model-based fair value is 45.45 IDR, about −72% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fortune Indonesia Tbk right now?
The price sits above even our optimistic bull case (45.56 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 (61/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (45.31 IDR to 45.56 IDR), unusually little disagreement for a valuation.

Key figures of Fortune Indonesia Tbk

How large is the market capitalisation of Fortune Indonesia Tbk (FORU)?
The market capitalisation of Fortune Indonesia Tbk is 926B IDR (≈ $51.7M). 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 Fortune Indonesia Tbk (FORU)?
The price-to-sales ratio of Fortune Indonesia Tbk is 29.7 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fortune Indonesia Tbk (FORU)?
Earnings per share at Fortune Indonesia Tbk are −19.64 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fortune Indonesia Tbk (FORU)?
The net margin of Fortune Indonesia Tbk is −5.6% (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 Fortune Indonesia Tbk (FORU)?
The return on equity (ROE) of Fortune Indonesia Tbk is −44.5% (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 Fortune Indonesia Tbk (FORU)?
On an EBIT basis the return on assets of Fortune Indonesia Tbk is −8.5% (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 Fortune Indonesia Tbk (FORU)?
The operating margin of Fortune Indonesia Tbk is −65.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fortune Indonesia Tbk (FORU)?
Revenue at Fortune Indonesia Tbk is growing −13.3% versus a year earlier (3y avg −1.3%). 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 Fortune Indonesia Tbk (FORU)?
Earnings per share at Fortune Indonesia Tbk are growing −56.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Fortune Indonesia Tbk (FORU) hold?
Fortune Indonesia Tbk holds more cash than debt, 16.5B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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