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PT Darmi Bersaudara Tbk primarily (KAYU) Fair Value & Analysis

Basic Materials · ID · Market cap 12.0B IDR

PD PT Darmi Bersaudara Tbk primarily KAYU · JK
Price18.00 IDR
Fair Value25.88 IDR
Upside+43.8%
Quality52/100
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Weak Growth
Solidly profitable · 12.4% net margin
Low debt · generates free cash flow
Ranks above peers (6/10)
Narrow moat 28/100
Evidence: Medium Range 14.91 IDR – 33.65 IDR Share as image

Fair value as of: Jul 16, 2026

From 17 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 31.12 IDR to 25.88 IDR (−16.8%) since Jun 24, 2026.

A solid business, screening 44% undervalued on our models.

What matters now

  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (14.91 IDR to 33.65 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

625.00 IDR 18.00 IDR Fair Value 25.88 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 18.00 IDR – 625.00 IDR · fair‑value band 14.91 IDR – 33.65 IDR · the 18.00 IDR price screens below the 25.88 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Darmi Bersaudara Tbk primarily (KAYU) currently trades at 18.00 IDR, while our model-based Fair Value estimate is 25.88 IDR, implying the stock looks roughly 43.8% undervalued today. The Quality Score stands at 52/100 (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: medium), always confirm before acting.

Over the trailing twelve months, PT Darmi Bersaudara Tbk primarily generated revenue of 8.3B IDR at a net margin of 12.4%. Revenue declined 79.0% year over year. It earns a return on equity of 1.3%. Net debt stands at 7.5B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 14.91 IDR (bear case) to 33.65 IDR (bull case); at 18.00 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. The share trades near its 52-week high. For context, the median of 10 Basic Materials peers we cover trades at -32% fair-value upside, at 44%, KAYU 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 25.48 IDR 50.37 IDR 98.28 IDR 80
Rev-Margin DCF 14.93 IDR 28.02 IDR 47.61 IDR 74
Growth-Adj P/E 21.78 IDR 31.12 IDR 40.46 IDR 68
All 17 models by family
DCF Models
FCF DCF 26.82 IDR 45.21 IDR 98.72 IDR 38
5Y Revenue Exit 14.93 IDR 25.96 IDR 47.20 IDR 39
5Y P/E Exit 17.82 IDR 35.46 IDR 57.88 IDR 38
10Y Revenue Exit 17.93 IDR 33.51 IDR 49.86 IDR 36
10Y P/E Exit 20.41 IDR 39.05 IDR 70.28 IDR 35
Earnings-Based
Graham-Dodd 8.25 IDR 57.53 IDR 80.74 IDR 54
Lynch FV 17.48 IDR 24.97 IDR 32.46 IDR 50
PEG = 1.0 17.48 IDR 24.97 IDR 32.46 IDR 46
Multiples
P/E Multiple 15.47 IDR 20.62 IDR 25.78 IDR 63
P/S Multiple 11.40 IDR 15.19 IDR 18.99 IDR 58
P/B Multiple 15.47 IDR 20.62 IDR 25.78 IDR 55
EV/Revenue 9.74 IDR 14.30 IDR 18.86 IDR 43
Asset-Based
NCAV (Graham) 61.00 IDR 81.74 IDR 122.00 IDR 50
Growth DCF
Growth DCF 25.48 IDR 50.37 IDR 98.28 IDR 80
Rev-Margin DCF 14.93 IDR 28.02 IDR 47.61 IDR 74
Economic Profit
Residual Income 83.28 IDR 77.19 IDR 56.33 IDR 61
Growth Earnings
Growth-Adj P/E 21.78 IDR 31.12 IDR 40.46 IDR 68

Widest divergence: Asset-Based (81.74 IDR) versus Multiples (15.19 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 8.3B IDR
Revenue growth (YoY) -79.0%
Net margin 12.4%
Return on equity 1.3%
Free cash flow 1.2B IDR FY2022
P/E ratio 86.1
More key figures
Operating margin -15.5%
EPS (TTM) 0.2090 IDR
EPS growth (YoY) -30.5%
Net debt 7.5B IDR FY2023

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 56

Profitability 19
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 33
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 Darmi Bersaudara Tbk primarily engages in the trading of processed wood products in Indonesia, India, and Nepal. Its processed wood products include decking, E2E, T&G, flooring, door jamb, post beam, finger joint, and window jamb products. The company exports its products.

Full company description

PT Darmi Bersaudara Tbk primarily engages in the trading of processed wood products in Indonesia, India, and Nepal. Its processed wood products include decking, E2E, T&G, flooring, door jamb, post beam, finger joint, and window jamb products. The company exports its products. PT Darmi Bersaudara Tbk was founded in 1998 and is headquartered in Surabaya, Indonesia. PT Darmi Bersaudara Tbk is a subsidiary of Pt Darbe Putra Makmur.

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

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

PT Darmi Bersaudara Tbk primarily reported revenue of 6.7B IDR in FY2023 versus 43.7B IDR in FY2019, a compound −37.4%/yr. Reported net income was 807M IDR in FY2023, compounding −29.7%/yr from FY2019.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2023)
6.7B IDR
Latest YoY
−70.3%
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.
−55.0%
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.
−29.1%
Avg. growth/yr (7Y) 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.
+4.7%
Revenue −37.4%/yr
FY19 43.7B IDR
FY20 74.1B IDR
FY21 5.1B IDR
FY22 22.7B IDR
FY23 6.7B IDR
Net income −29.7%/yr
FY19 3.3B IDR
FY20 380M IDR
FY21 147M IDR
FY22 1.8B IDR
FY23 807M IDR

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Cite: Fair Value Calculator (2026). "PT Darmi Bersaudara Tbk primarily Fair Value". https://www.fairvalue-calculator.com/stock/KAYU

Peer Group

Lumber & Wood Production · 76 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 52 · Above median
Fair Value upside +44% · Top 25%
Return on equity (TTM) 1% · Above median
Return on assets -1% · Below median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) -15% · Bottom 25%
Revenue growth -79% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Lumber & Wood Production median · lower = cheaper

P/E (TTM) 86.1× · Pricier than 75% of peers
P/FCF 0.0× · 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 92 · sector 16
FUTURE 0 · sector 0
PAST 5 · sector 0
HEALTH 99 · sector 92
DIVIDEND 0 · sector 32

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 Lumber & Wood Production stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Simpson Manufacturing Co SSD $188.80 $147.92 -22%
West Fraser Timber Co WFG C$98.54 C$51.55 -48%
UFP Industries, Inc UFPI $85.93 $108.78 +27%
Stella-Jones Inc SJ C$78.93 C$96.01 +22%
Boise Cascade Company BCC $76.06 $51.92 -32%
Century Plyboards (India) Limited CENTURYPLY ₹799.50 ₹201.01 -75%
DeHua TB New Decoration Material Co 002043 ¥11.74 ¥14.78 +26%
Canfor Corporation CFP C$14.17 C$4.54 -68%
Interfor Corporation IFP C$13.45 C$6.43 -52%
Kangxin New Materials Co 600076 ¥3.05 ¥0.6700 -78%

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Frequently asked questions

Is PT Darmi Bersaudara Tbk primarily (KAYU) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 25.88 IDR versus a price of 18.00 IDR, about +44% (undervalued).
What is the fair value of KAYU?
Our model-based fair value for PT Darmi Bersaudara Tbk primarily is 25.88 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 18.00 IDR.
What is the quality score of KAYU?
PT Darmi Bersaudara Tbk primarily has a Quality Score of 52/100. 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 Darmi Bersaudara Tbk primarily (KAYU)?
PT Darmi Bersaudara Tbk primarily reported trailing-twelve-month revenue of about 8.3B IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of KAYU?
The net profit margin of PT Darmi Bersaudara Tbk primarily is about 12.4%, meaning it keeps roughly 12.4% 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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