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PT Inocycle Technology Group (INOV) Fair Value & Analysis

Industrials · ID · Market cap 222B IDR

PI PT Inocycle Technology Group INOV · JK
Price145.00 IDR
Fair Value119.16 IDR
Upside-17.8%
Quality55/100
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Healthy Growth
Thin margins · 6.4% net margin
Low debt · generates free cash flow
Ranks above peers (13/13)
Moderate moat 49/100
Evidence: High Range 70.54 IDR – 138.10 IDR Share as image

Fair value as of: Jul 11, 2026

From 24 valuation models · updated 30 days ago

Share price +17.9% over the past month.

A solid business, but screening 18% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (138.10 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (70.54 IDR to 138.10 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

334.40 IDR 52.00 IDR Fair Value 119.16 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range 52.00 IDR – 334.40 IDR · fair‑value band 70.54 IDR – 138.10 IDR · the 145.00 IDR price screens above the 119.16 IDR fair value. Dashed = 300-day average. As of Jul 11, 2026.

Full chart & analysis →

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Analysis

PT Inocycle Technology Group (INOV) currently trades at 145.00 IDR, while our model-based Fair Value estimate is 119.16 IDR, implying the stock looks roughly 17.8% overvalued today. The Quality Score stands at 55/100 (solid 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: high).

Over the trailing twelve months, PT Inocycle Technology Group generated revenue of 730B IDR at a net margin of 6.4%. Revenue grew 36.5% year over year. It earns a return on equity of 14.6%. Net debt stands at 505B IDR. Fundamentals as of Jul 11, 2026

Our scenario range runs from 70.54 IDR (bear case) to 138.10 IDR (bull case); at 145.00 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 42% below its 52-week high and 81% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -40% fair-value upside, at -18%, INOV 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
Growth DCF 220.80 IDR 327.45 IDR 490.81 IDR 80
Residual Income 130.67 IDR 127.34 IDR 109.40 IDR 76
Rev-Margin DCF 248.33 IDR 397.66 IDR 572.65 IDR 74
All 24 models by family
DCF Models
FCF DCF 217.62 IDR 339.06 IDR 538.10 IDR 38
Owner Earnings 215.91 IDR 336.26 IDR 533.52 IDR 31
5Y Revenue Exit 248.33 IDR 399.61 IDR 596.08 IDR 39
5Y EBITDA Exit 370.70 IDR 632.62 IDR 944.75 IDR 41
5Y P/E Exit 139.96 IDR 193.27 IDR 248.70 IDR 38
10Y Revenue Exit 228.18 IDR 366.99 IDR 560.10 IDR 36
10Y EBITDA Exit 316.52 IDR 534.10 IDR 836.95 IDR 37
10Y P/E Exit 165.01 IDR 219.00 IDR 284.27 IDR 35
Earnings-Based
Graham-Dodd 35.77 IDR 120.88 IDR 162.04 IDR 54
Lynch FV 27.62 IDR 39.46 IDR 51.29 IDR 50
PEG = 1.0 27.62 IDR 39.46 IDR 51.29 IDR 46
EPV 270.24 IDR 313.09 IDR 351.18 IDR 59
Multiples
P/E Multiple 82.86 IDR 110.48 IDR 138.10 IDR 63
P/S Multiple 67.08 IDR 89.44 IDR 111.79 IDR 58
P/B Multiple 67.08 IDR 89.44 IDR 111.79 IDR 55
EV/EBIT 371.41 IDR 486.07 IDR 600.73 IDR 53
EV/EBITDA 493.93 IDR 649.42 IDR 804.92 IDR 54
EV/Revenue 272.94 IDR 378.16 IDR 483.37 IDR 43
Asset-Based
NCAV (Graham) 88.93 IDR 119.16 IDR 177.85 IDR 50
Growth DCF
Growth DCF 220.80 IDR 327.45 IDR 490.81 IDR 80
Rev-Margin DCF 248.33 IDR 397.66 IDR 572.65 IDR 74
Economic Profit
Residual Income 130.67 IDR 127.34 IDR 109.40 IDR 76
ROIC Compounder 290.28 IDR 370.95 IDR 471.97 IDR 72
Growth Earnings
Growth-Adj P/E 70.54 IDR 100.77 IDR 131.00 IDR 68

Widest divergence: DCF Models (339.06 IDR) versus Earnings-Based (39.46 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 730B IDR
Revenue growth (YoY) +36.5%
Net margin 6.4%
Return on equity 14.6%
Free cash flow 28.1B IDR FY2025
P/E ratio 5.4
More key figures
Operating margin 12.3%
EPS (TTM) 18.56 IDR
EPS growth (YoY) +23.3%
Net debt 505B IDR FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 51 · Market factors (momentum, volatility) 55

Profitability 27
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 69
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 Inocycle Technology Group Tbk engages in the production and sale of recycle polyester staple fiber in Indonesia. It provides hollow conjugated, solid, and special function fiber; and padding, needle punching, geotextile, and thermal bonding products for use in various industries, such as mining, construction, agriculture, manufacturing, and …

Full company description

PT Inocycle Technology Group Tbk engages in the production and sale of recycle polyester staple fiber in Indonesia. It provides hollow conjugated, solid, and special function fiber; and padding, needle punching, geotextile, and thermal bonding products for use in various industries, such as mining, construction, agriculture, manufacturing, and infrastructure. The company also offers homeware products, comprising mattresses, pillows, bolsters, blankets, carpets, mattress protectors, dolls, and bed cover sets. The company was formerly known as PT Hilon Felt and changed its name to PT Inocycle Technology Group Tbk in 2019. PT Inocycle Technology Group Tbk was founded in 2001 and is headquartered in Tangerang, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Inocycle Technology Group reported revenue of 682B IDR in FY2025 versus 633B IDR in FY2021, a compound +1.9%/yr. Reported net income was 9.5B IDR in FY2025, compounding −23.2%/yr from FY2021.

Growth Quality 70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
682B IDR
Latest YoY
+8.5%
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.
−0.4%
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.
+5.6%
Avg. growth/yr (9Y) 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.
+9.0%
Revenue +1.9%/yr
FY21 633B IDR
FY22 692B IDR
FY23 600B IDR
FY24 629B IDR
FY25 682B IDR
Net income −23.2%/yr
FY21 27.3B IDR
FY22 −36.4B IDR
FY23 −27.6B IDR
FY24 48.3B IDR
FY25 9.5B IDR

INOV screens 18% overvalued. Compare with Waste Management, Inc →

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Cite: Fair Value Calculator (2026). "PT Inocycle Technology Group Fair Value". https://www.fairvalue-calculator.com/stock/INOV

Peer Group

Waste Management · 166 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 −18% · Above median
Return on equity (TTM) 15% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth 37% · Top 25%
Debt / equity 0.04× · Lower than 75% of peers

Valuation Multiples vs Waste Management median · lower = cheaper

P/E (TTM) 6.6× · Cheaper than 75% of peers
P/B 0.69× · Cheaper than median
P/S (TTM) 0.31× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 1.5× · 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 10 · sector 8
FUTURE 100 · sector 22
PAST 58 · sector 25
HEALTH 98 · sector 81
DIVIDEND 0 · sector 30

Insider activity: 45/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Waste Management stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $233.33 $128.02 -45%
Republic Services, Inc RSG $219.20 $122.01 -44%
Waste Connections, Inc WCN C$242.43 C$78.67 -68%
Veolia Environnement SA VIE €37.51 €24.50 -35%
Clean Harbors, Inc CLH $303.64 $155.37 -49%
GFL Environmental Inc GFL C$55.40 C$94.12 +70%
Fomento de Construcciones y Contratas, S.A FCC €12.20 €7.30 -40%
GEM Co 002340 ¥6.32 ¥5.27 -17%
Zhejiang Weiming Environment Protection Co 603568 ¥16.18 ¥20.91 +29%
Cleanaway Waste Management Limited CWY A$2.34 A$1.18 -50%

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Frequently asked questions

Is PT Inocycle Technology Group (INOV) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 119.16 IDR versus a price of 145.00 IDR, about −18% (overvalued).
What is the fair value of INOV?
Our model-based fair value for PT Inocycle Technology Group is 119.16 IDR (as of Jul 11, 2026), built from audited fundamentals. The current price is 145.00 IDR.
What is the quality score of INOV?
PT Inocycle Technology Group 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 Inocycle Technology Group (INOV)?
PT Inocycle Technology Group reported trailing-twelve-month revenue of about 730B IDR (latest available figure, as of Jul 11, 2026).
What is the net profit margin of INOV?
The net profit margin of PT Inocycle Technology Group is about 6.4%, meaning it keeps roughly 6.4% 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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