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Intikeramik Alamasri Industri (IKAI) Fair Value & Analysis

Industrials · ID · Market cap 253B IDR (≈ $25.3M) · ISIN ID1000076201

IA Intikeramik Alamasri Industri IKAI · JK
Price20.00 IDR
Fair Value5.17 IDR
Upside-74.2%
Quality49/100
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Strengths

Low debt · generates free cash flow

Risks

!Trades 287% ABOVE our fair value of 5.17 IDR
!Weak Growth (revenue 5y +10.0 %/yr)
!Loss-making · -37.8% net margin
!Trails peers (1/9)
Weak Growth (revenue 5y +10.0 %/yr)
Loss-making · -37.8% net margin
Low debt · generates free cash flow
Trails peers (1/9)
Narrow moat 12/100
Evidence: Low Range 5.17 IDR – 11.22 IDR Share as image

Fair value as of: Aug 18, 2026

From 7 valuation models · updated 12 days ago

Below-average quality, and trading another 287% above our fair value.

What runs behind every stock

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

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What matters now

  • The price sits above even our optimistic bull case (11.22 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 (49/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (5.17 IDR to 11.22 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

51.00 IDR 6.00 IDR Fair Value 5.17 IDR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range 6.00 IDR – 51.00 IDR · fair‑value band 5.17 IDR – 11.22 IDR · the 20.00 IDR price screens above the 5.17 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 18, 2026.

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Analysis

Intikeramik Alamasri Industri (IKAI) currently trades at 20.00 IDR, while our model-based Fair Value estimate is 5.17 IDR, implying the stock looks roughly 74.2% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Intikeramik Alamasri Industri generated revenue of 143B IDR at a net margin of -37.8%. Revenue declined 16.7% year over year. It earns a return on equity of -9.2%. Net debt stands at 199B IDR. Fundamentals as of Aug 18, 2026

Our scenario range runs from 5.17 IDR (bear case) to 11.22 IDR (bull case); at 20.00 IDR, the current price sits above 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 52% below its 52-week high and 186% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -29% fair-value upside, at -74%, IKAI screens richer 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 21.27 IDR 43.70 IDR 82.41 IDR 80
Rev-Margin DCF 8.89 IDR 19.63 IDR 32.85 IDR 74
NCAV (Graham) 23.21 IDR 31.10 IDR 46.41 IDR 50
All 7 models by family
DCF Models
FCF DCF 21.01 IDR 43.92 IDR 83.16 IDR 38
5Y Revenue Exit 8.89 IDR 19.49 IDR 33.07 IDR 39
10Y Revenue Exit 12.22 IDR 23.42 IDR 38.90 IDR 36
Multiples
EV/Revenue 3.56 IDR 9.60 IDR 15.65 IDR 43
Asset-Based
NCAV (Graham) 23.21 IDR 31.10 IDR 46.41 IDR 50
Growth DCF
Growth DCF 21.27 IDR 43.70 IDR 82.41 IDR 80
Rev-Margin DCF 8.89 IDR 19.63 IDR 32.85 IDR 74

Widest divergence: Asset-Based (31.10 IDR) versus Multiples (9.60 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 1.77 TTM
EPS (TTM) -3.86 IDR
Net margin -43.3% FY2025
Return on equity -9.2% TTM
Return on assets (EBIT) -1.8% avg 5y
Operating margin -19.3% TTM
More key figures
Growth
Revenue (TTM) 143B IDR TTM
Revenue growth (YoY) -16.7% 3y avg -14.2%
EPS growth (YoY) +238%
Balance sheet & cash flow
Free cash flow 32.8B IDR FY2025
Net debt 199B IDR FY2025 · ≈ 6.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 51 · Market factors (momentum, volatility) 49

Profitability 2
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 53
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT Intikeramik Alamasri Industri Tbk manufactures, distributes, and sells porcelain tiles and granites under the Essenza brand in Indonesia. It operates in two segments, Ceramic and Hotel. The company engages in the hospitality business; and leasing of building units.

Full company description

PT Intikeramik Alamasri Industri Tbk manufactures, distributes, and sells porcelain tiles and granites under the Essenza brand in Indonesia. It operates in two segments, Ceramic and Hotel. The company engages in the hospitality business; and leasing of building units. PT Intikeramik Alamasri Industri Tbk was founded in 1991 and is based in Jakarta Selatan, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Intikeramik Alamasri Industri reported revenue of 149B IDR in FY2025 versus 186B IDR in FY2021, a compound −5.4%/yr. Reported net income was −64.5B IDR in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
149B IDR
Latest YoY
−15.7%
Avg. revenue 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.
−14.2%
Avg. revenue 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.
+10.0%
Avg. revenue 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.
+0.1%
Value creation/yr 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
Revenue −5.4%/yr
FY21 186B IDR
FY22 236B IDR
FY23 208B IDR
FY24 177B IDR
FY25 149B IDR
Net income
FY21 −57.5B IDR
FY22 −35.3B IDR
FY23 9.1B IDR
FY24 −62.3B IDR
FY25 −64.5B IDR

IKAI screens 74% overvalued. Compare with Trane Technologies plc →

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Cite: Fair Value Calculator (2026). "Intikeramik Alamasri Industri Fair Value". https://www.fairvalue-calculator.com/stock/IKAI

Peer Group

Building Products & Equipment · 245 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 49 · Below median
Fair Value upside −74% · Bottom 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -38% · Bottom 25%
Operating margin (TTM) -19% · Bottom 25%
Revenue growth -17% · Bottom 25%
Debt / equity 0.23× · Higher than median

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/FCF 0.0× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 2
FUTURE0 · sector 11
PAST0 · sector 24
HEALTH88 · sector 94
DIVIDEND0 · sector 38

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

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

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $454.31 $208.50 -54%
Johnson Controls International plc JCI $144.33 $44.75 -69%
Carrier Global Corporation CARR $58.74 $16.85 -71%
Compagnie de Saint-Gobain S.A SGO €81.20 €97.97 +21%
Geberit AG GEBN CHF 577.80 CHF 307.66 -47%
Lennox International Inc LII $393.72 $363.09 -8%
Kingspan Group KRX €87.30 €66.79 -23%
Masco Corporation MAS $74.64 $53.22 -29%
Carlisle Companies Incorporated CSL $356.53 $340.70 -4%
BELIMO Holding BEAN CHF 878.50 CHF 227.18 -74%

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Frequently asked questions

Is Intikeramik Alamasri Industri (IKAI) overvalued or undervalued?
As of Aug 18, 2026, our model estimates a fair value of 5.17 IDR versus a price of 20.00 IDR, about −74% (overvalued).
What is the fair value of IKAI?
Our model-based fair value for Intikeramik Alamasri Industri is 5.17 IDR (as of Aug 18, 2026), built from audited fundamentals. The current price: 20.00 IDR.
What is the quality score of IKAI?
Intikeramik Alamasri Industri has a Quality Score of 49/100. 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 Intikeramik Alamasri Industri (IKAI)?
Intikeramik Alamasri Industri reported trailing-twelve-month revenue of about 143B IDR (latest available figure, as of Aug 18, 2026).
What is the net profit margin of IKAI?
The net profit margin of Intikeramik Alamasri Industri is about -37.8%, meaning it is currently running at a net loss. 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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