Keramika Indonesia Assosiasi (KIAS) fair value: what the stock is really worth
As of Aug 24, 2026: fair value of Keramika Indonesia Assosiasi IDR 27, price IDR 21, upside +28.2%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Keramika Indonesia Assosiasi Tbk engages in production and sale of various ceramic products in Indonesia and internationally. It operates in two segments, Ceramic and Roof Tiles.
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PT Keramika Indonesia Assosiasi Tbk engages in production and sale of various ceramic products in Indonesia and internationally. It operates in two segments, Ceramic and Roof Tiles. The company offers floor, wall, granite, mosaic, roof, and vinyl tiles; closet, basin, urinal, fitting, shower, and bathroom furniture; adhesive, grout, and sealant; and kitchen wall and counter cabinets, as well as accessories. It provides its products under the KIA HD, KIA, and IMPRESSO brands. The company was founded in 1953 and is headquartered in Jakarta Selatan, Indonesia. PT Keramika Indonesia Assosiasi Tbk operates as a subsidiary of SCG Decor Public Company Limited.
Stock analysis
Keramika Indonesia Assosiasi (KIAS) currently trades at 21.00 IDR, while our model-based Fair Value estimate is 26.93 IDR, implying the stock looks roughly 22.0% undervalued today.
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Valuation
How firm this estimate is: it rests on 11 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 26.93 IDR (bear) to 107.72 IDR (bull), the price of 21.00 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 56/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Keramika Indonesia Assosiasi reported revenue of 612B IDR in FY2025 versus 552B IDR in FY2021, a compound +2.6%/yr. Reported net income was −10.4B IDR in FY2025.
Key figures
Market cap 314B IDR (≈ $17.5M) · P/S ratio 0.52 · EPS (TTM) −1.13 IDR · Net margin −1.7% · Return on equity −1.5% · Return on assets (EBIT) −1.7% · Operating margin −9.8% · Revenue (TTM) 609B IDR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and at its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −19% fair-value upside, at 28%, KIAS screens cheaper than that median.
Fair Value models
Bear 26.93 IDRFair Value 26.93 IDRBull 107.72 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.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.38/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.4%
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.
−1.9%
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.
+7.0%
Start year 2020 (pandemic). Over 10 years: −2.6% a year
Revenue growth 25 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.
+5.9%
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Profit margin (trend) ⓘ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.
−13.3% (2020) → −2.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+13.9%
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 +11.0% a year for the price.
Compare Keramika Indonesia Assosiasi with another stock
Price, fair value, quality and upside side by side.
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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.Building Products & Equipment · 250 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+28.2% · Top 25%
Profitability
Return on assets−0.7% · Bottom 25%
Net margin (TTM)−1.7% · Bottom 25%
Operating margin (TTM)−9.8% · Bottom 25%
Growth and dividend
Revenue growth−2.2% · Below median
Balance sheet
Debt / equity0.68× · Highest 25%
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Keramika Indonesia Assosiasi Fair Value". https://www.fairvalue-calculator.com/stock/KIAS
Frequently asked questions
Is Keramika Indonesia Assosiasi (KIAS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 26.93 IDR versus the last price from Aug 24, 2026 of 21.00 IDR, about +28% upside (undervalued).
What is the fair value of KIAS?
Our model-based fair value for Keramika Indonesia Assosiasi is 26.93 IDR (as of Sep 24, 2026), built from audited fundamentals. Last price (from Aug 24, 2026): 21.00 IDR.
What is the quality score of KIAS?
Keramika Indonesia Assosiasi has a Quality Score of 56/100. 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 Keramika Indonesia Assosiasi (KIAS)?
Our model-based price target is the fair value of 26.93 IDR (as of Sep 24, 2026) from 7 valuation models. Cautious scenario 26.93 IDR, optimistic scenario 107.72 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Keramika Indonesia Assosiasi stock forecast for 2026?
Our models put fair value at 26.93 IDR, about +28% upside versus the last price from Aug 24, 2026 of 21.00 IDR (undervalued). Cautious scenario 26.93 IDR, optimistic scenario 107.72 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Keramika Indonesia Assosiasi (KIAS)?
Keramika Indonesia Assosiasi reported trailing-twelve-month revenue of about 609B IDR (latest available figure, as of Sep 24, 2026).
What growth is priced into Keramika Indonesia Assosiasi (KIAS)?
For today's price to be fair in a discounted-cash-flow model, Keramika Indonesia Assosiasi would have to grow free cash flow by +13.9 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of KIAS use?
Our models discount Keramika Indonesia Assosiasi at 10.5 %: a base by market capitalisation (nano), damped by beta 0.20, 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 Keramika Indonesia Assosiasi that is +13.9 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Keramika Indonesia Assosiasi (KIAS) delivered so far?
Over the past 5 years revenue at Keramika Indonesia Assosiasi grew +7.0 % a year. The price currently implies +13.9 % 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 Keramika Indonesia Assosiasi (KIAS) growing?
The median revenue growth in the sector is +7.0 % a year. That is the yardstick for the growth priced into Keramika Indonesia Assosiasi (+13.9 % 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 Keramika Indonesia Assosiasi (KIAS)?
The free-cash-flow yield on the price is 10.86 %: that much free cash flow Keramika Indonesia Assosiasi produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Keramika Indonesia Assosiasi (KIAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Keramika Indonesia Assosiasi it is 26.93 IDR per share (as of Sep 24, 2026), against a price of 21.00 IDR. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Keramika Indonesia Assosiasi stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KIAS trades below its calculated fair value: price 21.00 IDR, fair value 26.93 IDR, a gap of about +28% (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 KIAS?
No. The price is what the market pays today (21.00 IDR); the fair value is what the company's own numbers justify (26.93 IDR). For Keramika Indonesia Assosiasi the two are 5.93 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Keramika Indonesia Assosiasi worth?
The market values Keramika Indonesia Assosiasi at about 314B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 21.00 IDR; our models calculate a fair value of 26.93 IDR per share.
What do the bullish and bearish scenarios say about KIAS?
Our models span a range for Keramika Indonesia Assosiasi: cautious scenario 26.93 IDR, base 26.93 IDR, optimistic 107.72 IDR per share (as of Sep 24, 2026, price 21.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Keramika Indonesia Assosiasi (KIAS)?
Balance-sheet figures for Keramika Indonesia Assosiasi (as of Sep 24, 2026): return on equity −1.5%, debt of 0.68 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is KIAS from its 52-week high?
Keramika Indonesia Assosiasi trades at 21.00 IDR, at its 52-week high of 21.00 IDR and at the low of 21.00 IDR (as of Aug 24, 2026). Distance from the high says nothing about value: that is what the fair value of 26.93 IDR is for.
Which stocks are comparable to Keramika Indonesia Assosiasi?
From the same area (Industrials) we also value Trane Technologies plc, Johnson Controls International plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, 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 Keramika Indonesia Assosiasi stock attractive at the current price?
The data as of Sep 24, 2026: price 21.00 IDR, calculated fair value 26.93 IDR (+28%), Quality Score 56/100, from 7 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 KIAS calculated?
We run Keramika Indonesia Assosiasi through 7 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 26.93 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 14.5 % above its aggregate fair value. Keramika Indonesia Assosiasi currently trades 22 % 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 Keramika Indonesia Assosiasi (KIAS)?
The latest price we hold is from Aug 24, 2026 and stands at 21.00 IDR. Our model-based fair value is 26.93 IDR, about +28% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Keramika Indonesia Assosiasi right now?
The price is below even our cautious bear case (26.93 IDR). The market is more pessimistic than our downside scenario. The model range is unusually wide (26.93 IDR to 107.72 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Keramika Indonesia Assosiasi
How large is the market capitalisation of Keramika Indonesia Assosiasi (KIAS)?
The market capitalisation of Keramika Indonesia Assosiasi is 314B IDR (≈ $17.5M). 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 Keramika Indonesia Assosiasi (KIAS)?
The price-to-sales ratio of Keramika Indonesia Assosiasi is 0.52 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Keramika Indonesia Assosiasi (KIAS)?
Earnings per share at Keramika Indonesia Assosiasi are −1.13 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Keramika Indonesia Assosiasi (KIAS)?
The net margin of Keramika Indonesia Assosiasi is −1.7% (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 Keramika Indonesia Assosiasi (KIAS)?
The return on equity (ROE) of Keramika Indonesia Assosiasi is −1.5% (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 Keramika Indonesia Assosiasi (KIAS)?
On an EBIT basis the return on assets of Keramika Indonesia Assosiasi is −1.7% (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 Keramika Indonesia Assosiasi (KIAS)?
The operating margin of Keramika Indonesia Assosiasi is −9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Keramika Indonesia Assosiasi (KIAS)?
Revenue at Keramika Indonesia Assosiasi is growing −2.2% versus a year earlier (3y avg −1.9%). 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 Keramika Indonesia Assosiasi (KIAS)?
Earnings per share at Keramika Indonesia Assosiasi are growing +47.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Keramika Indonesia Assosiasi (KIAS) hold?
Keramika Indonesia Assosiasi holds more cash than debt, 25.3B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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