Steel Pipe Industry Of Indonesia (ISSP) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Steel Pipe Industry Of Indonesia IDR 1,162, price IDR 398, upside +192.0%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range 162.55 IDR – 521.94 IDR · fair‑value band 859.96 IDR – 1,443 IDR · the 398.00 IDR price screens below the 1,162 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
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PT Steel Pipe Industry of Indonesia Tbk, together with its subsidiary, PT Spindo Engineering Industry, manufactures and sells steel pipes/tubes and other related products in Indonesia and internationally. It operates through Steel Pipe Mill; Spiral Steel Pipe Mill; Strips and Plate; and Services and Others segments.
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PT Steel Pipe Industry of Indonesia Tbk, together with its subsidiary, PT Spindo Engineering Industry, manufactures and sells steel pipes/tubes and other related products in Indonesia and internationally. It operates through Steel Pipe Mill; Spiral Steel Pipe Mill; Strips and Plate; and Services and Others segments. The company offers ERW and SSAW pipes, such as structural pipes for use in foundation work, construction projects, bridges, piers, airports, stadiums, and halls, etc., as well as building envelope structural applications; water pipes for use in transmission water pipelines, water treatment plants, wastewater treatment plants, hydropower use facilities, and water circulation systems in buildings, as well as water tunnels; and oil and gas pipes for use in the oil and gas industry. It also provides stainless steel pipes, including ornamental tubes and industrial pipes; galvanized iron pipes applied as ceiling and ceiling frames, wall partition frames, canopies, fences, gates, electrical, and telecommunication cable channels; steel poles comprising telephone, electric, and lighting poles; and mechanical tubes for use in furniture materials, bus frame structures, bicycle frames, and automotive parts. In addition, the company offers inspection and test services. It exports its products. The company was founded in 1971 and is headquartered in Surabaya, Indonesia. PT Steel Pipe Industry of Indonesia Tbk is a subsidiary of PT Cakra Bhakti Para Putra.
Stock analysis
Steel Pipe Industry Of Indonesia (ISSP) currently trades at 398.00 IDR, while our model-based Fair Value estimate is 1,162 IDR, implying the stock looks roughly 65.8% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 1,276 IDR per share, and 22 of the 26 models we run sit above the 398.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 157.84 IDR, and 4 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 859.96 IDR (bear) to 1,443 IDR (bull), the price of 398.00 IDR sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Steel Pipe Industry Of Indonesia reported revenue of 5.9T IDR in FY2025 versus 5.4T IDR in FY2021, a compound +2.5%/yr. Reported net income was 534B IDR in FY2025, compounding +2.4%/yr from FY2021.
Key figures
Market cap 2.8T IDR (≈ $157M) · P/E ratio 5.3 · P/S ratio 0.48 · EPS (TTM) 74.66 IDR · Dividend yield 3.9% · Net margin 9.0% · Return on equity 9.7% · Return on assets (EBIT) 9.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 192%, ISSP screens cheaper than that median.
Fair Value models
Bear 859.96 IDRFair Value 1,162 IDRBull 1,443 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (55.43 IDR per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−1.8%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
Start year 2020 (pandemic). Over 10 years: +5.2% a year
Revenue growth 15 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
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What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+27.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.6%
Dividend (yield on the price)3.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.23.6% vs 13.1%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 13%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−6.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −8.4% a year for the price.
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Peer Groupⓘ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.Steel · 413 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Top 25%
Fair Value upside+192.0% · Top 25%
Profitability
Return on equity (TTM)9.7% · Top 25%
Return on assets5.5% · Top 25%
Net margin (TTM)9.0% · Top 25%
Operating margin (TTM)10.3% · Top 25%
Growth and dividend
Revenue growth−4.6% · Below median
Dividend yield (TTM)3.9% · Above median
Balance sheet
Debt / equity0.20× · Above median
Valuation Multiplesvs Steel median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Steel Pipe Industry Of Indonesia Fair Value". https://www.fairvalue-calculator.com/stock/ISSP
Frequently asked questions
Is Steel Pipe Industry Of Indonesia (ISSP) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of 1,162 IDR versus a price of 398.00 IDR, about +192% upside (undervalued).
What is the fair value of ISSP?
Our model-based fair value for Steel Pipe Industry Of Indonesia is 1,162 IDR (as of Sep 28, 2026), built from audited fundamentals. The current price: 398.00 IDR.
What is the quality score of ISSP?
Steel Pipe Industry Of Indonesia has a Quality Score of 59/100. 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 price target for Steel Pipe Industry Of Indonesia (ISSP)?
Our model-based price target is the fair value of 1,162 IDR (as of Sep 28, 2026) from 26 valuation models. Cautious scenario 859.96 IDR, optimistic scenario 1,443 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Steel Pipe Industry Of Indonesia stock forecast for 2026?
Our models put fair value at 1,162 IDR, about +192% upside versus a price of 398.00 IDR (undervalued). Cautious scenario 859.96 IDR, optimistic scenario 1,443 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Steel Pipe Industry Of Indonesia (ISSP)?
Steel Pipe Industry Of Indonesia reported trailing-twelve-month revenue of about 5.9T IDR (latest available figure, as of Sep 28, 2026).
Does Steel Pipe Industry Of Indonesia pay a dividend?
Steel Pipe Industry Of Indonesia currently shows a dividend yield of about 3.90% relative to its recent price (as of Sep 28, 2026).
What growth is priced into Steel Pipe Industry Of Indonesia (ISSP)?
For today's price to be fair in a discounted-cash-flow model, Steel Pipe Industry Of Indonesia would have to grow free cash flow by -6.0 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.5 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of ISSP use?
Our models discount Steel Pipe Industry Of Indonesia at 13.5 %: a base by market capitalisation (micro), damped by beta 0.24, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Steel Pipe Industry Of Indonesia that is -6.0 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has Steel Pipe Industry Of Indonesia (ISSP) delivered so far?
Over the past 5 years revenue at Steel Pipe Industry Of Indonesia grew +9.5 % a year. The price currently implies -6.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Steel Pipe Industry Of Indonesia (ISSP) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Steel Pipe Industry Of Indonesia (-6.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Steel Pipe Industry Of Indonesia (ISSP)?
The free-cash-flow yield on the price is 25.20 %: that much free cash flow Steel Pipe Industry Of Indonesia produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Steel Pipe Industry Of Indonesia (ISSP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Steel Pipe Industry Of Indonesia it is 1,162 IDR per share (as of Sep 28, 2026), against a price of 398.00 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Steel Pipe Industry Of Indonesia stock overvalued or undervalued in 2026?
As of Sep 28, 2026, ISSP trades below its calculated fair value: price 398.00 IDR, fair value 1,162 IDR, a gap of about +192% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ISSP?
No. The price is what the market pays today (398.00 IDR); the fair value is what the company's own numbers justify (1,162 IDR). For Steel Pipe Industry Of Indonesia the two are 764.10 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Steel Pipe Industry Of Indonesia worth?
The market values Steel Pipe Industry Of Indonesia at about 2.8T IDR (market capitalisation, as of Sep 28, 2026). Per share that is 398.00 IDR; our models calculate a fair value of 1,162 IDR per share.
What do the bullish and bearish scenarios say about ISSP?
Our models span a range for Steel Pipe Industry Of Indonesia: cautious scenario 859.96 IDR, base 1,162 IDR, optimistic 1,443 IDR per share (as of Sep 28, 2026, price 398.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ISSP?
Steel Pipe Industry Of Indonesia trades at a price-to-earnings ratio of 5.3 (as of Sep 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,162 IDR is built from several models across several years. Other multiples: P/B 0.5, P/S 0.5, EV/EBITDA 3.3.
How solid is the balance sheet of Steel Pipe Industry Of Indonesia (ISSP)?
Balance-sheet figures for Steel Pipe Industry Of Indonesia (as of Sep 28, 2026): return on equity 9.7%, debt of 0.20 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is ISSP from its 52-week high?
Steel Pipe Industry Of Indonesia trades at 398.00 IDR, about 24% below its 52-week high of 521.94 IDR and 10% above the low of 360.61 IDR (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 1,162 IDR is for.
Which stocks are comparable to Steel Pipe Industry Of Indonesia?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Steel Pipe Industry Of Indonesia stock attractive at the current price?
The data as of Sep 28, 2026: price 398.00 IDR, calculated fair value 1,162 IDR (+192%), Quality Score 59/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ISSP calculated?
We run Steel Pipe Industry Of Indonesia through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1,162 IDR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Steel Pipe Industry Of Indonesia currently trades 192 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Steel Pipe Industry Of Indonesia (ISSP)?
The closing price on Sep 25, 2026 was 398.00 IDR. Our model-based fair value is 1,162 IDR, about +192% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Steel Pipe Industry Of Indonesia right now?
The price is below even our cautious bear case (859.96 IDR). The market is more pessimistic than our downside scenario. 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 quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Steel Pipe Industry Of Indonesia (ISSP) come from?
Earnings per share at Steel Pipe Industry Of Indonesia grew +14.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.0 %, EBIT margin +0.6 %, tax rate −0.2 %, residual (interest, one-offs) +6.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Steel Pipe Industry Of Indonesia
How large is the market capitalisation of Steel Pipe Industry Of Indonesia (ISSP)?
The market capitalisation of Steel Pipe Industry Of Indonesia is 2.8T IDR (≈ $157M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Steel Pipe Industry Of Indonesia (ISSP)?
The price-to-sales ratio of Steel Pipe Industry Of Indonesia is 0.48 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Steel Pipe Industry Of Indonesia (ISSP)?
Earnings per share at Steel Pipe Industry Of Indonesia are 74.66 IDR (price ÷ EPS = P/E 5.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Steel Pipe Industry Of Indonesia (ISSP)?
The dividend yield of Steel Pipe Industry Of Indonesia is 3.9% (payout 20.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Steel Pipe Industry Of Indonesia (ISSP)?
The net margin of Steel Pipe Industry Of Indonesia is 9.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Steel Pipe Industry Of Indonesia (ISSP)?
The return on equity (ROE) of Steel Pipe Industry Of Indonesia is 9.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Steel Pipe Industry Of Indonesia (ISSP)?
On an EBIT basis the return on assets of Steel Pipe Industry Of Indonesia is 9.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Steel Pipe Industry Of Indonesia (ISSP)?
The operating margin of Steel Pipe Industry Of Indonesia is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Steel Pipe Industry Of Indonesia (ISSP)?
Revenue at Steel Pipe Industry Of Indonesia is growing −4.6% versus a year earlier (3y avg −1.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Steel Pipe Industry Of Indonesia (ISSP)?
Earnings per share at Steel Pipe Industry Of Indonesia are growing −8.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Steel Pipe Industry Of Indonesia (ISSP) carry?
The net debt of Steel Pipe Industry Of Indonesia is 1.4T IDR (fiscal year 2025, ≈ 2.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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