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PT Indocement Tunggal Prakarsa Tbk (INTP) Fair Value & Analysis

Basic Materials · ID · Market cap 15.4T IDR

PI PT Indocement Tunggal Prakarsa Tbk INTP · JK
Price5,400 IDR
Fair Value10,539 IDR
Upside+95.2%
Quality65/100
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Mixed Growth
Solidly profitable · 12.8% net margin
Low debt · generates free cash flow
Ranks above peers (10/15)
Moderate moat 46/100
Evidence: High Range 7,904 IDR – 13,174 IDR Share as image

Fair value as of: Jul 18, 2026

From 23 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from 11,494 IDR to 10,539 IDR (−8.3%) since Jun 25, 2026. Share price +22.7% over the past month.

A solid business, screening 95% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (7,904 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) 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)

10,472 IDR 3,774 IDR Fair Value 10,539 IDR Feb 2021 Aug 2026

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

How to read this chart

60‑month range 3,774 IDR – 10,472 IDR · fair‑value band 7,904 IDR – 13,174 IDR · the 5,400 IDR price screens below the 10,539 IDR fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

PT Indocement Tunggal Prakarsa Tbk (INTP) currently trades at 5,400 IDR, while our model-based Fair Value estimate is 10,539 IDR, implying the stock looks roughly 95.2% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Basic Materials 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 Indocement Tunggal Prakarsa Tbk generated revenue of 17.6T IDR at a net margin of 12.8%. Revenue declined 3.3% year over year. It earns a return on equity of 9.9%. The balance sheet holds a net cash position of 3.1T IDR. Fundamentals as of Jul 18, 2026

Our scenario range runs from 7,904 IDR (bear case) to 13,174 IDR (bull case); at 5,400 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 20% below its 52-week high and 39% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 95%, INTP 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 11,544 IDR 16,191 IDR 22,981 IDR 80
Residual Income 6,258 IDR 6,969 IDR 11,354 IDR 76
Rev-Margin DCF 8,357 IDR 11,645 IDR 15,291 IDR 74
All 23 models by family
DCF Models
FCF DCF 11,257 IDR 16,302 IDR 24,040 IDR 38
Owner Earnings 11,269 IDR 16,320 IDR 24,069 IDR 31
5Y Revenue Exit 8,357 IDR 11,531 IDR 15,423 IDR 39
5Y EBITDA Exit 9,664 IDR 13,897 IDR 18,652 IDR 41
5Y P/E Exit 9,893 IDR 14,311 IDR 18,766 IDR 38
10Y Revenue Exit 9,129 IDR 12,242 IDR 16,103 IDR 36
10Y EBITDA Exit 10,145 IDR 13,893 IDR 18,550 IDR 37
10Y P/E Exit 10,292 IDR 14,182 IDR 18,637 IDR 35
Earnings-Based
Graham-Dodd 4,657 IDR 12,133 IDR 15,824 IDR 54
PEG = 1.0 2,306 IDR 3,294 IDR 4,282 IDR 46
EPV 6,354 IDR 7,214 IDR 7,978 IDR 59
Multiples
P/E Multiple 8,732 IDR 11,642 IDR 14,553 IDR 63
P/S Multiple 6,075 IDR 8,100 IDR 10,124 IDR 58
P/B Multiple 8,732 IDR 11,642 IDR 14,553 IDR 55
EV/EBIT 8,157 IDR 10,381 IDR 12,605 IDR 53
EV/EBITDA 9,820 IDR 12,598 IDR 15,377 IDR 54
EV/Revenue 7,154 IDR 9,583 IDR 12,013 IDR 43
Asset-Based
NCAV (Graham) 3,533 IDR 4,734 IDR 7,066 IDR 50
Growth DCF
Growth DCF 11,544 IDR 16,191 IDR 22,981 IDR 80
Rev-Margin DCF 8,357 IDR 11,645 IDR 15,291 IDR 74
Economic Profit
Residual Income 6,258 IDR 6,969 IDR 11,354 IDR 76
ROIC Compounder 6,354 IDR 7,289 IDR 8,732 IDR 72
Growth Earnings
Growth-Adj P/E 6,945 IDR 9,922 IDR 12,898 IDR 68

Widest divergence: DCF Models (13,897 IDR) versus Asset-Based (4,734 IDR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 17.6T IDR
Revenue growth (YoY) -3.3%
Net margin 12.8%
Return on equity 9.9%
Free cash flow 2.8T IDR FY2025
P/E ratio 5.9
More key figures
Operating margin 5.9%
EPS (TTM) 677.16 IDR
EPS growth (YoY) +4.1%
Net cash 3.1T IDR FY2025

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 67 · Market factors (momentum, volatility) 50

Profitability 44
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 97
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 Indocement Tunggal Prakarsa Tbk manufactures and sells cement products in Indonesia and internationally. It operates in three segments: Cement, Ready-Mix Concrete, and Aggregates Quarries.

Full company description

PT Indocement Tunggal Prakarsa Tbk manufactures and sells cement products in Indonesia and internationally. It operates in three segments: Cement, Ready-Mix Concrete, and Aggregates Quarries. The company offers cement products comprising Portland composite, hydraulic, oil well, white, and slag cement, as well as white and multipurpose mortar; ready-mix concrete for use in construction projects, including high-rise buildings and housing, roads, bridges, ports, and airports, as well as industrial and commercial infrastructure; and aggregate products, such as crushed stone, sand, and gravel products. It is also involved in the mining of aggregates and trass; shipping; port management; outsourcing; construction; and trading activities. The company exports its products. The company was founded in 1975 and is headquartered in Jakarta, Indonesia. PT Indocement Tunggal Prakarsa Tbk operates as a subsidiary of Heidelberg Materials AG.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Indocement Tunggal Prakarsa Tbk reported revenue of 17.7T IDR in FY2025 versus 14.8T IDR in FY2021, a compound +4.7%/yr. Reported net income was 2.2T IDR in FY2025, compounding +5.9%/yr from FY2021.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
17.7T IDR
Latest YoY
−4.4%
Avg. growth/yr (3Y)
+2.8%
Avg. growth/yr (5Y)
+4.6%
Avg. growth/yr (25Y)
+8.2%
Revenue +4.7%/yr
FY21 14.8T IDR
FY22 16.3T IDR
FY23 17.9T IDR
FY24 18.5T IDR
FY25 17.7T IDR
Net income +5.9%/yr
FY21 1.8T IDR
FY22 1.8T IDR
FY23 2.0T IDR
FY24 2.0T IDR
FY25 2.2T IDR

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Cite: Fair Value Calculator (2026). "PT Indocement Tunggal Prakarsa Tbk Fair Value". https://www.fairvalue-calculator.com/stock/INTP

Peer Group

Building Materials · 254 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 65 · Top 25%
Fair Value upside +95% · Top 25%
Return on equity (TTM) 10% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 6% · Below median
Revenue growth -3% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 6.9× · Cheaper than 75% of peers
P/B 0.67× · Cheaper than median
P/S (TTM) 0.88× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.5× · Cheaper than median
PEG 4.35× · Pricier 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 28
FUTURE 0 · sector 2
PAST 40 · sector 15
HEALTH 98 · sector 92
DIVIDEND 0 · sector 42

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

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

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is PT Indocement Tunggal Prakarsa Tbk (INTP) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 10,539 IDR versus a price of 5,400 IDR, about +95% (undervalued).
What is the fair value of INTP?
Our model-based fair value for PT Indocement Tunggal Prakarsa Tbk is 10,539 IDR (as of Jul 18, 2026), built from audited fundamentals. The current price is 5,400 IDR.
What is the quality score of INTP?
PT Indocement Tunggal Prakarsa Tbk has a Quality Score of 65/100. 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 Indocement Tunggal Prakarsa Tbk (INTP)?
PT Indocement Tunggal Prakarsa Tbk reported trailing-twelve-month revenue of about 17.6T IDR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of INTP?
The net profit margin of PT Indocement Tunggal Prakarsa Tbk is about 12.8%, meaning it keeps roughly 12.8% 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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