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PT Indospring Tbk (INDS) Fair Value & Analysis

Consumer Cyclical · ID · Market cap 1.7T IDR

PI PT Indospring Tbk INDS · JK
Price276.00 IDR
Fair Value303.12 IDR
Upside+9.8%
Quality45/100
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Expensive Growth
Thin margins · 1.6% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/13)
Narrow moat 26/100
Evidence: Medium Range 227.34 IDR – 328.06 IDR Share as image

Fair value as of: Jul 16, 2026

From 15 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 258.93 IDR to 303.12 IDR (+17.1%) since Jun 24, 2026. Share price +4.5% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 227.34 IDR (bear) to 328.06 IDR (bull), base 303.12 IDR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 45/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

2,813 IDR 144.24 IDR Fair Value 303.12 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 144.24 IDR – 2,813 IDR · fair‑value band 227.34 IDR – 328.06 IDR · the 276.00 IDR price screens below the 303.12 IDR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Indospring Tbk (INDS) currently trades at 276.00 IDR, while our model-based Fair Value estimate is 303.12 IDR, implying the stock looks roughly 9.8% fairly valued today. The Quality Score stands at 45/100 (below-average 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: medium), always confirm before acting.

Over the trailing twelve months, PT Indospring Tbk generated revenue of 3.4T IDR at a net margin of 1.6%. Revenue grew 9.7% year over year. It earns a return on equity of 2.1%. Net debt stands at 215B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 227.34 IDR (bear case) to 328.06 IDR (bull case); at 276.00 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 Cyclical peers we cover trades at -44% fair-value upside, at 10%, INDS 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
Residual Income 372.11 IDR 357.29 IDR 293.03 IDR 76
ROIC Compounder 121.22 IDR 141.78 IDR 160.06 IDR 72
Growth-Adj P/E 150.90 IDR 215.56 IDR 280.23 IDR 68
All 15 models by family
DCF Models
Owner Earnings 210.36 IDR 373.39 IDR 661.60 IDR 31
Earnings-Based
Graham-Dodd 80.03 IDR 342.25 IDR 467.52 IDR 54
Lynch FV 87.49 IDR 124.99 IDR 162.49 IDR 50
PEG = 1.0 87.49 IDR 124.99 IDR 162.49 IDR 46
EPV 121.22 IDR 141.78 IDR 160.06 IDR 59
Multiples
P/E Multiple 194.20 IDR 258.93 IDR 323.66 IDR 63
P/S Multiple 150.06 IDR 200.08 IDR 250.10 IDR 58
P/B Multiple 150.06 IDR 200.08 IDR 250.10 IDR 55
EV/EBIT 257.26 IDR 341.44 IDR 425.62 IDR 53
EV/EBITDA 375.47 IDR 499.06 IDR 622.64 IDR 54
EV/Revenue 174.96 IDR 247.91 IDR 320.87 IDR 43
Asset-Based
NCAV (Graham) 258.30 IDR 346.12 IDR 516.60 IDR 50
Economic Profit
Residual Income 372.11 IDR 357.29 IDR 293.03 IDR 76
ROIC Compounder 121.22 IDR 141.78 IDR 160.06 IDR 72
Growth Earnings
Growth-Adj P/E 150.90 IDR 215.56 IDR 280.23 IDR 68

Widest divergence: DCF Models (373.39 IDR) versus Earnings-Based (124.99 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 3.4T IDR
Revenue growth (YoY) +9.7%
Net margin 1.6%
Return on equity 2.1%
Free cash flow −23.1B IDR FY2025
P/E ratio 31.2
More key figures
Operating margin 0.8%
EPS (TTM) 8.40 IDR
EPS growth (YoY) +50.4%
Net debt 215B IDR FY2025

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

Quality Score breakdown

Overall quality 45/100

Of which business quality 45 · Market factors (momentum, volatility) 21

Profitability 28
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 40
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 Indospring Tbk manufactures and sells spring products in Indonesia and internationally. The company offers leaf, coil, and valve springs, as well as stabilizer bars and motor vehicle brake components. It also provides agricultural equipment. The company exports its products. The company was founded in 1978 and is based in Gresik, Indonesia.

Full company description

PT Indospring Tbk manufactures and sells spring products in Indonesia and internationally. The company offers leaf, coil, and valve springs, as well as stabilizer bars and motor vehicle brake components. It also provides agricultural equipment. The company exports its products. The company was founded in 1978 and is based in Gresik, Indonesia. PT Indospring Tbk operates as a subsidiary of PT Indoprima Gemilang.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Indospring Tbk reported revenue of 3.3T IDR in FY2025 versus 2.6T IDR in FY2021, a compound +5.7%/yr. Reported net income was 77.2B IDR in FY2025, compounding −16.5%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.3T IDR
Latest YoY
+4.4%
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.
−3.2%
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.
+15.2%
Avg. 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.
+13.3%
Revenue +5.7%/yr
FY21 2.6T IDR
FY22 3.6T IDR
FY23 3.8T IDR
FY24 3.2T IDR
FY25 3.3T IDR
Net income −16.5%/yr
FY21 159B IDR
FY22 210B IDR
FY23 183B IDR
FY24 69.6B IDR
FY25 77.2B IDR
Character of growth · EPS growth decomposed (2014-2025) −13.7 % p.a.
Revenue per share −13.0 pp

of which total revenue +7.9 pp · buybacks/dilution −21.0 pp

EBIT margin −1.8 pp
Tax rate −1.0 pp
Residual (interest, one-offs) +2.1 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 Indospring Tbk Fair Value". https://www.fairvalue-calculator.com/stock/INDS

Peer Group

Auto Parts · 642 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 45 · Below median
Fair Value upside +10% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 31.2× · Pricier than median
P/B 0.51× · Cheaper than 75% of peers
P/S (TTM) 0.51× · Cheaper than median
EV/EBITDA 6.1× · Cheaper 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 46 · sector 16
FUTURE 49 · sector 23
PAST 9 · sector 26
HEALTH 100 · sector 95
DIVIDEND 0 · sector 30

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.

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10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

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Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
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Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
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Frequently asked questions

Is PT Indospring Tbk (INDS) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 303.12 IDR versus a price of 276.00 IDR, about +10% (fairly valued).
What is the fair value of INDS?
Our model-based fair value for PT Indospring Tbk is 303.12 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 276.00 IDR.
What is the quality score of INDS?
PT Indospring Tbk has a Quality Score of 45/100. 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 Indospring Tbk (INDS)?
PT Indospring Tbk reported trailing-twelve-month revenue of about 3.4T IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of INDS?
The net profit margin of PT Indospring Tbk is about 1.6%, meaning it keeps roughly 1.6% 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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