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PT Hartadinata Abadi Tbk (HRTA) Fair Value & Analysis

Consumer Cyclical · ID · Market cap 9.0T IDR

PH PT Hartadinata Abadi Tbk HRTA · JK
Price2,150 IDR
Fair Value3,747 IDR
Upside+74.3%
Quality55/100
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Healthy Growth
Thin margins · 2.2% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Moderate moat 55/100
Evidence: High Range 2,709 IDR – 12,833 IDR Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 23 days ago

Share price +24.3% over the past month.

A solid business, screening 74% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (2,709 IDR). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (2,709 IDR to 12,833 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

3,177 IDR 161.41 IDR Fair Value 3,747 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 161.41 IDR – 3,177 IDR · fair‑value band 2,709 IDR – 12,833 IDR · the 2,150 IDR price screens below the 3,747 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

PT Hartadinata Abadi Tbk (HRTA) currently trades at 2,150 IDR, while our model-based Fair Value estimate is 3,747 IDR, implying the stock looks roughly 74.3% undervalued today. The Quality Score stands at 55/100 (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: high), always confirm before acting.

Over the trailing twelve months, PT Hartadinata Abadi Tbk generated revenue of 57.9T IDR at a net margin of 2.2%. Revenue grew 197.0% year over year. It earns a return on equity of 41.0%. Net debt stands at 2.5T IDR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 2,709 IDR (bear case) to 12,833 IDR (bull case); at 2,150 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 38% below its 52-week high and 291% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -41% fair-value upside, at 74%, HRTA 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 BearBaseBull Evidence
Highest evidence
Growth DCF 3,110 IDR 6,413 IDR 11,960 IDR 80
Residual Income 1,771 IDR 2,712 IDR 33,510 IDR 76
Rev-Margin DCF 3,902 IDR 7,249 IDR 14,230 IDR 74
All 26 models by family
DCF Models
FCF DCF 3,296 IDR 5,276 IDR 11,748 IDR 38
Owner Earnings 2,659 IDR 6,144 IDR 13,788 IDR 31
5Y Revenue Exit 3,524 IDR 6,350 IDR 12,289 IDR 39
5Y EBITDA Exit 3,396 IDR 6,092 IDR 11,382 IDR 41
5Y P/E Exit 3,618 IDR 8,183 IDR 14,437 IDR 38
10Y Revenue Exit 3,390 IDR 8,086 IDR 11,296 IDR 36
10Y EBITDA Exit 3,445 IDR 7,805 IDR 15,473 IDR 37
10Y P/E Exit 3,610 IDR 8,293 IDR 16,068 IDR 35
Earnings-Based
Graham-Dodd 1,445 IDR 10,076 IDR 14,140 IDR 54
Lynch FV 5,206 IDR 7,437 IDR 9,668 IDR 50
PEG = 1.0 5,206 IDR 7,437 IDR 9,668 IDR 46
EPV 2,927 IDR 3,432 IDR 3,881 IDR 59
Dividend Discount
Gordon GGM 202.00 IDR 441.00 IDR 742.00 IDR 70
DDM Multi-Stage 202.00 IDR 361.25 IDR 459.59 IDR 61
Multiples
P/E Multiple 3,506 IDR 4,674 IDR 5,843 IDR 63
P/S Multiple 2,709 IDR 3,612 IDR 4,515 IDR 58
P/B Multiple 2,098 IDR 2,797 IDR 3,497 IDR 55
EV/EBIT 4,750 IDR 6,313 IDR 7,875 IDR 53
EV/EBITDA 3,284 IDR 4,357 IDR 5,430 IDR 54
EV/Revenue 3,223 IDR 4,577 IDR 5,931 IDR 43
Asset-Based
NCAV (Graham) 349.67 IDR 468.56 IDR 699.34 IDR 50
Growth DCF
Growth DCF 3,110 IDR 6,413 IDR 11,960 IDR 80
Rev-Margin DCF 3,902 IDR 7,249 IDR 14,230 IDR 74
Economic Profit
Residual Income 1,771 IDR 2,712 IDR 33,510 IDR 76
ROIC Compounder 3,750 IDR 5,723 IDR 8,419 IDR 72
Growth Earnings
Growth-Adj P/E 6,910 IDR 9,871 IDR 12,833 IDR 68

Widest divergence: Growth Earnings (9,871 IDR) versus Dividend Discount (361.25 IDR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 57.9T IDR
Revenue growth (YoY) +197%
Net margin 2.2%
Return on equity 41.0%
Free cash flow 833B IDR FY2025
P/E ratio 7.6
More key figures
Operating margin 3.2%
EPS (TTM) 274.00 IDR
EPS growth (YoY) +190%
Net debt 2.5T IDR FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 54 · Market factors (momentum, volatility) 57

Profitability 60
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 78
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 Hartadinata Abadi Tbk manufactures and sells gold jewelry in Indonesia. The company offers necklaces, rings, pendants, earrings, and bracelets. It is also involved in e-commerce and pawnshop activities.

Full company description

PT Hartadinata Abadi Tbk manufactures and sells gold jewelry in Indonesia. The company offers necklaces, rings, pendants, earrings, and bracelets. It is also involved in e-commerce and pawnshop activities. The company operates a retail chain of stores under the Aurum Collection Center, ACC Premium, Claudia Perfect Jewellery, Celine Jewellery, and Hartadinata Abadi Store names. It distributes its products through wholesalers, retail stores, independent stores, and franchise stores, as well as through online. The company was founded in 1989 and is based in Bandung, Indonesia. PT Hartadinata Abadi Tbk operates as a subsidiary of PT Terang Anugrah Abadi.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Hartadinata Abadi Tbk reported revenue of 44.5T IDR in FY2025 versus 5.2T IDR in FY2021, a compound +70.8%/yr. Reported net income was 978B IDR in FY2025, compounding +49.9%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
44.5T IDR
Latest YoY
+144.4%
Avg. growth/yr (3Y)
+86.0%
Avg. growth/yr (5Y)
+60.8%
Avg. growth/yr (11Y)
+37.6%
Revenue +70.8%/yr
FY21 5.2T IDR
FY22 6.9T IDR
FY23 12.9T IDR
FY24 18.2T IDR
FY25 44.5T IDR
Net income +49.9%/yr
FY21 194B IDR
FY22 254B IDR
FY23 306B IDR
FY24 442B IDR
FY25 978B IDR

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Cite: Fair Value Calculator (2026). "PT Hartadinata Abadi Tbk Fair Value". https://www.fairvalue-calculator.com/stock/HRTA

Peer Group

Luxury Goods · 132 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 +74% · Top 25%
Return on equity (TTM) 41% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 2% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 197% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.38× · Higher than 75% of peers

Valuation Multiples vs Luxury Goods median · lower = cheaper

P/E (TTM) 7.2× · Cheaper than 75% of peers
P/B 2.80× · Pricier than median
P/S (TTM) 0.16× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 4.4× · 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 13
FUTURE 100 · sector 50
PAST 100 · sector 38
HEALTH 81 · sector 99
DIVIDEND 0 · sector 38

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 Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Compagnie Financière Richemont SA CFR CHF 197.40 CHF 117.30 -41%
Christian Dior SE DIO €455.40 €502.30 +10%
Kering SA KER €248.50 €60.61 -76%
Tapestry, Inc TPR $140.73 $19.95 -86%
Chow Tai Fook Jewellery Group 1929 HK$11.82 HK$12.28 +4%
The Swatch Group UHRN CHF 40.95 CHF 21.48 -48%
Prada S.p.A 1913 HK$43.26 HK$64.05 +48%
Pandora A/S PNDORA kr 779.40 kr 1,424 +83%
Brunello Cucinelli S.p.A BC €80.32 €42.69 -47%
Kalyan Jewellers India Limited KALYANKJIL ₹546.60 ₹238.57 -56%

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Frequently asked questions

Is PT Hartadinata Abadi Tbk (HRTA) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 3,747 IDR versus a price of 2,150 IDR, about +74% (undervalued).
What is the fair value of HRTA?
Our model-based fair value for PT Hartadinata Abadi Tbk is 3,747 IDR (as of Jul 17, 2026), built from audited fundamentals. The current price is 2,150 IDR.
What is the quality score of HRTA?
PT Hartadinata Abadi 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 Hartadinata Abadi Tbk (HRTA)?
PT Hartadinata Abadi Tbk reported trailing-twelve-month revenue of about 57.9T IDR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of HRTA?
The net profit margin of PT Hartadinata Abadi Tbk is about 2.2%, meaning it keeps roughly 2.2% 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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