PT Indofarma Tbk, (INAF) Fair Value & Analysis
Healthcare · ID · Market cap 391B IDR
Fair value as of: Jul 12, 2026
From 2 valuation models · updated 29 days ago
Below-average quality, and screening another 87% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (18.89 IDR). The favourable scenario is already priced in.
- Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
60‑month range 126.00 IDR – 3,680 IDR · fair‑value band 14.64 IDR – 18.89 IDR · the 126.00 IDR price screens above the 16.29 IDR fair value. Dashed = 300-day average. As of Jul 12, 2026.
Analysis
PT Indofarma Tbk, (INAF) currently trades at 126.00 IDR, while our model-based Fair Value estimate is 16.29 IDR, implying the stock looks roughly 87.1% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Healthcare 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, PT Indofarma Tbk, generated revenue of 152B IDR at a net margin of -51.5%. Revenue declined 75.4% year over year. Net debt stands at 695B IDR. Fundamentals as of Jul 12, 2026
Our scenario range runs from 14.64 IDR (bear case) to 18.89 IDR (bull case); at 126.00 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 near its 52-week high, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -87%, INAF 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.
All 2 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 56
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 Indofarma Tbk, together with its subsidiaries, manufactures and sells pharmaceutical products in Indonesia and internationally. The company operates through medicine, Medical devices and Others, and Engineering Pharmaceuticals. It engages in marketing, trading and distribution of medicine and medical devices; and clinical lab.
Full company description
PT Indofarma Tbk, together with its subsidiaries, manufactures and sells pharmaceutical products in Indonesia and internationally. The company operates through medicine, Medical devices and Others, and Engineering Pharmaceuticals. It engages in marketing, trading and distribution of medicine and medical devices; and clinical lab. The company was formerly known as PT Indofarma (Persero) Tbk. PT Indofarma Tbk was founded in 1918 and is based in Bekasi, Indonesia. The company operates as a subsidiary of PT Bio Farma.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Indofarma Tbk, reported revenue of 152B IDR in FY2025 versus 2.9T IDR in FY2021, a compound −52.2%/yr. Reported net income was −78.0B IDR in FY2025.
INAF screens 87% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →
Peer Group
Drug Manufacturers - Specialty & Generic · 623 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.
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 0: the price sits above our fair-value range.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Jiangsu Hengrui Pharmaceuticals Co 600276 | ¥53.19 | ¥25.94 | -51% |
| Sun Pharmaceutical Industries Limited SUNPHARMA | ₹1,933 | ₹989.50 | -49% |
| Divi's Laboratories Limited DIVISLAB | ₹7,316 | ₹1,943 | -73% |
| Torrent Pharmaceuticals Limited TORNTPHARM | ₹4,763 | ₹1,329 | -72% |
| PharmaEssentia Corporation 6446 | 1,285 TWD | 221.01 TWD | -83% |
| Cipla Limited CIPLA | ₹1,439 | ₹1,001 | -30% |
| Zydus Lifesciences Limited ZYDUSLIFE | ₹1,151 | ₹703.32 | -39% |
| Lupin Limited LUPIN | ₹2,443 | ₹2,477 | +1% |
| Mankind Pharma Limited MANKIND | ₹2,484 | ₹983.11 | -60% |
| Dr. Reddy's Laboratories Limited DRREDDY | ₹1,211 | ₹874.79 | -28% |
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Frequently asked questions
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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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