Multi Spunindo Jaya Tbk. (MSJA) fair value: what the stock is really worth
As of Oct 14, 2026: fair value of Multi Spunindo Jaya Tbk. IDR 220, price IDR 815, upside -73.0%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
33‑month range 235.29 IDR – 890.00 IDR · fair‑value band 172.45 IDR – 277.74 IDR · the 815.00 IDR price screens above the 219.65 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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PT Multi Spunindo Jaya Tbk manufactures and sells nonwoven materials in Indonesia and internationally.
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The company offers polypropylene, polyester (PET), polyethylene (PE), bicomponent PET/PE, biodegradable, polyethylene, biodegradable, and 3D embossed spunbond materials; meltblown and spunmelt materials; and ready-made nonwoven composite materials for use in personal care and hygiene, medical, agriculture and horticulture, geotextile, building and construction, automotive, household and furnishing, filtration, clothing and shoes, absorbent and wiping materials, packaging and miscellaneous, and FRP pipe industries.
It is involved in the plastic recycling industry and trading activities. The company was founded in 1997 and is based in Sidoarjo, Indonesia. PT Multi Spunindo Jaya Tbk is a subsidiary of PT Maju Selaras Jayamerta.
Stock analysis
Multi Spunindo Jaya Tbk. (MSJA) currently trades at 815.00 IDR, while our model-based Fair Value estimate is 219.65 IDR, 73.0% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 298.41 IDR per share, and 0 of the 24 models we run sit above the 815.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 96.65 IDR, and 24 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 172.45 IDR (bear) to 277.74 IDR (bull), the price of 815.00 IDR sits above 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 58/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Multi Spunindo Jaya Tbk. reported revenue of $63.4M in FY2026 versus $77.9M in FY2022, a compound −5.0%/yr. Reported net income was $5.6M in FY2026, compounding −11.6%/yr from FY2022.
Key figures
Market cap 4.7T IDR (≈ $264M) · P/E ratio 50.3 · P/S ratio 4.45 · EPS (TTM) 16.19 IDR · Net margin 8.8% · Return on equity 6.9% · Return on assets (EBIT) 7.2% · Operating margin 11.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 189% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −13% fair-value upside, at −73%, MSJA screens richer than that median.
Fair Value models
Bear172.45 IDRFair Value 219.65 IDRBull277.74 IDR
Price 815.00 IDR · Upside -73.0%
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 2026 figures (about 4 months old). Earnings retained since then (4.75 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.Coverage ⓘCoverage = 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.4%
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.
−7.1%
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.
−2.9%
Start year 2021 (pandemic)
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years) ⓘ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.
−13.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.9%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.23% → 8%
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).
+47.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +44.4% a year for the price.
Compare Multi Spunindo Jaya Tbk. 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.Textile Manufacturing · 337 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−73.0% · Bottom 25%
Profitability
Return on equity (12 months)6.9% · Above median
Return on assets5.2% · Top 25%
Net margin (12 months)7.7% · Above median
Operating margin (12 months)11.7% · Top 25%
Growth and dividend
Revenue growth28.6% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
P/E (12 months)50.3× · Priciest 25%
P/B3.15× · Priciest 25%
P/S (12 months)3.86× · Priciest 25%
Price / free cash flow84.5× · Priciest 25%
EV/EBITDA26.7× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 7
FUTURE (revenue growth)100· sector 36
PAST (return on equity)28· sector 17
HEALTH (low debt)99· sector 95
DIVIDEND (yield)0· sector 36
VALUE 0: the price sits above our fair-value range.
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.
Is Multi Spunindo Jaya Tbk. (MSJA) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 219.65 IDR versus a price of 815.00 IDR, about −73% upside (overvalued).
What is the fair value of MSJA?
Our model-based fair value for Multi Spunindo Jaya Tbk. is 219.65 IDR (as of Oct 2, 2026), built from audited fundamentals. The current price: 815.00 IDR.
What is the quality score of MSJA?
Multi Spunindo Jaya Tbk. has a Quality Score of 58/100. 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 Spunindo Jaya Tbk. (MSJA)?
Our model-based price target is the fair value of 219.65 IDR (as of Oct 2, 2026) from 24 valuation models. Cautious scenario 172.45 IDR, optimistic scenario 277.74 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Multi Spunindo Jaya Tbk. stock forecast for 2026?
Our models put fair value at 219.65 IDR, about −73% upside versus a price of 815.00 IDR (overvalued). Cautious scenario 172.45 IDR, optimistic scenario 277.74 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Multi Spunindo Jaya Tbk. (MSJA)?
Multi Spunindo Jaya Tbk. reported trailing-twelve-month revenue of about $68.3M (latest available figure, as of Oct 2, 2026).
What growth is priced into Multi Spunindo Jaya Tbk. (MSJA)?
For today's price to be fair in a discounted-cash-flow model, Multi Spunindo Jaya Tbk. would have to grow free cash flow by +47.8 % 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 -2.9 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of MSJA use?
Our models discount Multi Spunindo Jaya Tbk. at 13.5 %: a base by market capitalisation (micro), damped by beta 0.13, 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 Multi Spunindo Jaya Tbk. that is +47.8 % 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 Multi Spunindo Jaya Tbk. (MSJA) delivered so far?
Over the past 5 years revenue at Multi Spunindo Jaya Tbk. grew -2.9 % a year. The price currently implies +47.8 % 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 Multi Spunindo Jaya Tbk. (MSJA) growing?
The median revenue growth in the sector is +6.8 % a year. That is the yardstick for the growth priced into Multi Spunindo Jaya Tbk. (+47.8 % 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 Multi Spunindo Jaya Tbk. (MSJA)?
The free-cash-flow yield on the price is 1.18 %: that much free cash flow Multi Spunindo Jaya Tbk. 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 Multi Spunindo Jaya Tbk. (MSJA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Multi Spunindo Jaya Tbk. it is 219.65 IDR per share (as of Oct 2, 2026), against a price of 815.00 IDR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Multi Spunindo Jaya Tbk. stock overvalued or undervalued in 2026?
As of Oct 2, 2026, MSJA trades above its calculated fair value: price 815.00 IDR, fair value 219.65 IDR, a gap of about −73% (overvalued). 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 MSJA?
No. The price is what the market pays today (815.00 IDR); the fair value is what the company's own numbers justify (219.65 IDR). For Multi Spunindo Jaya Tbk. the two are 595.35 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Multi Spunindo Jaya Tbk. worth?
The market values Multi Spunindo Jaya Tbk. at about 4.7T IDR (market capitalisation, as of Oct 2, 2026). Per share that is 815.00 IDR; our models calculate a fair value of 219.65 IDR per share.
What do the bullish and bearish scenarios say about MSJA?
Our models span a range for Multi Spunindo Jaya Tbk.: cautious scenario 172.45 IDR, base 219.65 IDR, optimistic 277.74 IDR per share (as of Oct 2, 2026, price 815.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MSJA?
Multi Spunindo Jaya Tbk. trades at a price-to-earnings ratio of 50.3 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 219.65 IDR is built from several models across several years. Other multiples: P/B 3.2, P/S 3.9, EV/EBITDA 26.7.
How solid is the balance sheet of Multi Spunindo Jaya Tbk. (MSJA)?
Balance-sheet figures for Multi Spunindo Jaya Tbk. (as of Oct 2, 2026): return on equity 6.9%, debt of 0.02 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is MSJA from its 52-week high?
Multi Spunindo Jaya Tbk. trades at 815.00 IDR, about 8% below its 52-week high of 890.00 IDR and 189% above the low of 281.79 IDR (as of Oct 14, 2026). Distance from the high says nothing about value: that is what the fair value of 219.65 IDR is for.
Which stocks are comparable to Multi Spunindo Jaya Tbk.?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, 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 Spunindo Jaya Tbk. stock attractive at the current price?
The data as of Oct 2, 2026: price 815.00 IDR, calculated fair value 219.65 IDR (−73%), Quality Score 58/100, from 24 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 MSJA calculated?
We run Multi Spunindo Jaya Tbk. through 24 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 219.65 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 14.7 % above its aggregate fair value. Multi Spunindo Jaya Tbk. itself currently trades above fair value. 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 Spunindo Jaya Tbk. (MSJA)?
The closing price on Oct 14, 2026 was 815.00 IDR. Our model-based fair value is 219.65 IDR, about −73% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Multi Spunindo Jaya Tbk. right now?
The price sits above even our optimistic bull case (277.74 IDR). The favourable scenario is already priced in. 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 but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Multi Spunindo Jaya Tbk.
How large is the market capitalisation of Multi Spunindo Jaya Tbk. (MSJA)?
The market capitalisation of Multi Spunindo Jaya Tbk. is 4.7T IDR (≈ $264M). 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 Spunindo Jaya Tbk. (MSJA)?
The price-to-sales ratio of Multi Spunindo Jaya Tbk. is 4.45 (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 Spunindo Jaya Tbk. (MSJA)?
Earnings per share at Multi Spunindo Jaya Tbk. are 16.19 IDR (price ÷ EPS = P/E 50.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Multi Spunindo Jaya Tbk. (MSJA)?
The net margin of Multi Spunindo Jaya Tbk. is 8.8% (fiscal year 2026). 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 Spunindo Jaya Tbk. (MSJA)?
The return on equity (ROE) of Multi Spunindo Jaya Tbk. is 6.9% (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 Spunindo Jaya Tbk. (MSJA)?
On an EBIT basis the return on assets of Multi Spunindo Jaya Tbk. is 7.2% (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 Spunindo Jaya Tbk. (MSJA)?
The operating margin of Multi Spunindo Jaya Tbk. is 11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Multi Spunindo Jaya Tbk. (MSJA)?
Revenue at Multi Spunindo Jaya Tbk. is growing +28.6% versus a year earlier (3y avg −7.1%). 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 Spunindo Jaya Tbk. (MSJA)?
Earnings per share at Multi Spunindo Jaya Tbk. are growing −65.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Multi Spunindo Jaya Tbk. (MSJA) hold?
Multi Spunindo Jaya Tbk. holds more cash than debt, $6.7M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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