Multi Indocitra Tbk (MICE) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Multi Indocitra Tbk IDR 1,236, price IDR 540, upside +128.8%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Multi Indocitra Tbk produces and distributes baby and health care products, and cosmetics in Indonesia. The company offers baby products and mother care products, such as bottle teats, pacifiers, breast pumps, baby toiletries, diapers, wet wipes, and toys, as well as products for senior citizens under the Pigeon brand.
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PT Multi Indocitra Tbk produces and distributes baby and health care products, and cosmetics in Indonesia. The company offers baby products and mother care products, such as bottle teats, pacifiers, breast pumps, baby toiletries, diapers, wet wipes, and toys, as well as products for senior citizens under the Pigeon brand. It also provides logistics services. The company was founded in 1990 and is based in Jakarta Barat, Indonesia.
Stock analysis
Multi Indocitra Tbk (MICE) currently trades at 540.00 IDR, while our model-based Fair Value estimate is 1,236 IDR, implying the stock looks roughly 56.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,754 IDR per share, and 10 of the 12 models we run sit above the 540.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 149.20 IDR, and 2 of the 12 models stay below the price. Evidence for this calculation is low.
Scenario range: 912.60 IDR (bear) to 1,545 IDR (bull), the price of 540.00 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 49/100 (below-average quality), in the Consumer Defensive sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Multi Indocitra Tbk reported revenue of 1.2T IDR in FY2025 versus 771B IDR in FY2021, a compound +11.9%/yr. Reported net income was 43.6B IDR in FY2025, compounding +9.7%/yr from FY2021.
Key figures
Market cap 321B IDR (≈ $32.1M) · P/E ratio 7.9 · P/S ratio 0.29 · EPS (TTM) 68.23 IDR · Dividend yield 2.0% · Net margin 3.6% · Return on equity 4.3% · Return on assets (EBIT) 4.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −25% fair-value upside, at 129%, MICE screens cheaper than that median.
Fair Value models
Bear 912.60 IDRFair Value 1,236 IDRBull 1,545 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 (50.10 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.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.56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.3%
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.
+7.5%
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.
+13.1%
Start year 2020 (pandemic). Over 10 years: +8.1% a year
Revenue growth 24 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.
+11.2%
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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.
+9.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.6%
Dividend (yield on the price)2.0%
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.8% vs 7%, steady
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% → −2%
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.Household & Personal Products · 250 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+129% · Top 25%
Profitability
Return on equity (TTM)4% · Below median
Return on assets4% · Above median
Net margin (TTM)3% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth35% · Top 25%
Dividend yield (TTM)2.0% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Household & Personal Products median · lower = cheaper
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Is Multi Indocitra Tbk (MICE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,236 IDR versus a price of 540.00 IDR, about +129% upside (undervalued).
What is the fair value of MICE?
Our model-based fair value for Multi Indocitra Tbk is 1,236 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 540.00 IDR.
What is the quality score of MICE?
Multi Indocitra Tbk has a Quality Score of 49/100. 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 Multi Indocitra Tbk (MICE)?
Our model-based price target is the fair value of 1,236 IDR (as of Sep 24, 2026) from 12 valuation models. Cautious scenario 912.60 IDR, optimistic scenario 1,545 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Multi Indocitra Tbk stock forecast for 2026?
Our models put fair value at 1,236 IDR, about +129% upside versus a price of 540.00 IDR (undervalued). Cautious scenario 912.60 IDR, optimistic scenario 1,545 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Multi Indocitra Tbk (MICE)?
Multi Indocitra Tbk reported trailing-twelve-month revenue of about 1.3T IDR (latest available figure, as of Sep 24, 2026).
Does Multi Indocitra Tbk pay a dividend?
Multi Indocitra Tbk currently shows a dividend yield of about 1.95% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Multi Indocitra Tbk (MICE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Multi Indocitra Tbk it is 1,236 IDR per share (as of Sep 24, 2026), against a price of 540.00 IDR. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Multi Indocitra Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MICE trades below its calculated fair value: price 540.00 IDR, fair value 1,236 IDR, a gap of about +129% (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 MICE?
No. The price is what the market pays today (540.00 IDR); the fair value is what the company's own numbers justify (1,236 IDR). For Multi Indocitra Tbk the two are 695.73 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Multi Indocitra Tbk worth?
The market values Multi Indocitra Tbk at about 321B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 540.00 IDR; our models calculate a fair value of 1,236 IDR per share.
What do the bullish and bearish scenarios say about MICE?
Our models span a range for Multi Indocitra Tbk: cautious scenario 912.60 IDR, base 1,236 IDR, optimistic 1,545 IDR per share (as of Sep 24, 2026, price 540.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MICE?
Multi Indocitra Tbk trades at a price-to-earnings ratio of 7.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,236 IDR is built from several models across several years. Other multiples: P/B 0.3, P/S 0.2, EV/EBITDA 2.4.
How solid is the balance sheet of Multi Indocitra Tbk (MICE)?
Balance-sheet figures for Multi Indocitra Tbk (as of Sep 24, 2026): return on equity 4.3%, debt of 0.01 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is MICE from its 52-week high?
Multi Indocitra Tbk trades at 540.00 IDR, about 32% below its 52-week high of 793.96 IDR and 14% above the low of 474.42 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,236 IDR is for.
Which stocks are comparable to Multi Indocitra Tbk?
From the same area (Consumer Defensive) we also value The Procter & Gamble Company, Colgate-Palmolive Company, Hindustan Unilever Limited, Kenvue Inc, 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 Multi Indocitra Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 540.00 IDR, calculated fair value 1,236 IDR (+129%), Quality Score 49/100, from 12 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 MICE calculated?
We run Multi Indocitra Tbk through 12 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 1,236 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 14.1 % above its aggregate fair value. Multi Indocitra Tbk currently trades 129 % 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 Multi Indocitra Tbk (MICE)?
The closing price on Sep 23, 2026 was 540.00 IDR. Our model-based fair value is 1,236 IDR, about +129% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Multi Indocitra Tbk right now?
The price is below even our cautious bear case (912.60 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 (49/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Multi Indocitra Tbk (MICE) come from?
Earnings per share at Multi Indocitra Tbk grew +4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.0 %, EBIT margin −3.2 %, tax rate +1.6 %, residual (interest, one-offs) −2.1 %. 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 Multi Indocitra Tbk
How large is the market capitalisation of Multi Indocitra Tbk (MICE)?
The market capitalisation of Multi Indocitra Tbk is 321B IDR (≈ $32.1M). 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 Multi Indocitra Tbk (MICE)?
The price-to-sales ratio of Multi Indocitra Tbk is 0.29 (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 Multi Indocitra Tbk (MICE)?
Earnings per share at Multi Indocitra Tbk are 68.23 IDR (price ÷ EPS = P/E 7.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Multi Indocitra Tbk (MICE)?
The dividend yield of Multi Indocitra Tbk is 2.0% (payout 15.5%). 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 Multi Indocitra Tbk (MICE)?
The net margin of Multi Indocitra Tbk is 3.6% (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 Multi Indocitra Tbk (MICE)?
The return on equity (ROE) of Multi Indocitra Tbk is 4.3% (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 Multi Indocitra Tbk (MICE)?
On an EBIT basis the return on assets of Multi Indocitra Tbk is 4.6% (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 Multi Indocitra Tbk (MICE)?
The operating margin of Multi Indocitra Tbk is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Multi Indocitra Tbk (MICE)?
Revenue at Multi Indocitra Tbk is growing +35.4% versus a year earlier (3y avg +7.5%). 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 Multi Indocitra Tbk (MICE)?
Earnings per share at Multi Indocitra Tbk are growing −74.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Multi Indocitra Tbk (MICE) generate?
The free cash flow of Multi Indocitra Tbk is −9.0B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Multi Indocitra Tbk (MICE) carry?
The net debt of Multi Indocitra Tbk is 241B IDR (fiscal year 2025). 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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