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PT Esta Indonesia Tbk (NEST) Fair Value & Analysis

Consumer Defensive · ID · Market cap 2.6T IDR

PE PT Esta Indonesia Tbk NEST · JK
Price735.00 IDR
Fair Value84.58 IDR
Upside-88.5%
Quality40/100
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Weak Growth
Thin margins · 6.7% net margin
negative free cash flow
Mixed vs. peers (5/10)
Narrow moat 35/100
Evidence: Medium Range 71.13 IDR – 109.95 IDR Share as image

Fair value as of: Jul 11, 2026

From 13 valuation models · updated 29 days ago

Share price +14.8% over the past month.

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (109.95 IDR). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (2 years)

775.00 IDR 242.00 IDR Fair Value 84.58 IDR Aug 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

24‑month range 242.00 IDR – 775.00 IDR · fair‑value band 71.13 IDR – 109.95 IDR · the 735.00 IDR price screens above the 84.58 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

PT Esta Indonesia Tbk (NEST) currently trades at 735.00 IDR, while our model-based Fair Value estimate is 84.58 IDR, implying the stock looks roughly 88.5% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, PT Esta Indonesia Tbk generated revenue of 361B IDR at a net margin of 6.4%. Revenue declined 45.7% year over year. It earns a return on equity of 6.3%. The balance sheet holds a net cash position of 10.1B IDR. Fundamentals as of Jul 11, 2026

Our scenario range runs from 71.13 IDR (bear case) to 109.95 IDR (bull case); at 735.00 IDR, the current price sits above 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 and 199% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 102% fair-value upside, at -88%, NEST screens richer 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (11.23 IDR to 117.16 IDR). Read the values as a conservative anchor, not as a price target.
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
Residual Income 72.17 IDR 75.26 IDR 78.80 IDR 76
Growth-Adj P/E 62.05 IDR 88.64 IDR 115.23 IDR 68
ROIC Compounder 9.92 IDR 11.23 IDR 12.40 IDR 67
All 13 models by family
DCF Models
Owner Earnings 55.83 IDR 78.44 IDR 121.96 IDR 31
Earnings-Based
Graham-Dodd 37.94 IDR 46.37 IDR 52.16 IDR 54
EPV 9.92 IDR 11.23 IDR 12.40 IDR 59
Multiples
P/E Multiple 87.87 IDR 117.16 IDR 146.45 IDR 63
P/S Multiple 71.13 IDR 94.84 IDR 118.55 IDR 58
P/B Multiple 71.13 IDR 94.84 IDR 118.55 IDR 55
EV/EBIT 21.48 IDR 27.82 IDR 34.16 IDR 53
EV/EBITDA 26.79 IDR 34.90 IDR 43.02 IDR 54
EV/Revenue 16.03 IDR 21.85 IDR 27.67 IDR 43
Asset-Based
NCAV (Graham) 44.76 IDR 59.98 IDR 89.53 IDR 50
Economic Profit
Residual Income 72.17 IDR 75.26 IDR 78.80 IDR 76
ROIC Compounder 9.92 IDR 11.23 IDR 12.40 IDR 67
Growth Earnings
Growth-Adj P/E 62.05 IDR 88.64 IDR 115.23 IDR 68

Widest divergence: Growth Earnings (88.64 IDR) versus Earnings-Based (11.23 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 361B IDR
Revenue growth (YoY) -45.7%
Net margin 6.4%
Return on equity 6.3%
Free cash flow −78.1B IDR FY2025
P/E ratio 80.7
More key figures
Operating margin -0.3%
EPS (TTM) 6.00 IDR
EPS growth (YoY) -3.4%
Net cash 10.1B IDR FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 41 · Market factors (momentum, volatility) 68

Profitability 37
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 94
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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 Esta Indonesia Tbk engages in the breeding and cultivation of swiftlets in Indonesia. The company offers bird's nest, as well as involved in the wholesale trading of agricultural products and other live stocks. The company was founded in 2000 and is based in Semarang, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Esta Indonesia Tbk reported revenue of 361B IDR in FY2025 versus 453B IDR in FY2021, a compound −5.5%/yr. Reported net income was 22.9B IDR in FY2025, compounding +25.1%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
361B IDR
Latest YoY
−33.3%
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.
−6.4%
Revenue −5.5%/yr
FY21 453B IDR
FY22 440B IDR
FY23 600B IDR
FY24 541B IDR
FY25 361B IDR
Net income +25.1%/yr
FY21 9.4B IDR
FY22 9.8B IDR
FY23 25.8B IDR
FY24 27.1B IDR
FY25 22.9B IDR

NEST screens 88% overvalued. Compare with Muyuan Foods Group →

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Cite: Fair Value Calculator (2026). "PT Esta Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/NEST

Peer Group

Farm Products · 288 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 40 · Bottom 25%
Fair Value upside −89% · Bottom 25%
Return on equity (TTM) 7% · Above median
Return on assets 2% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 12% · Above median

Valuation Multiples vs Farm Products median · lower = cheaper

P/E (TTM) 104.7× · Pricier than 75% of peers
P/B 7.04× · Pricier than 75% of peers
P/S (TTM) 6.99× · Pricier 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 0 · sector 25
FUTURE 59 · sector 20
PAST 27 · sector 17
HEALTH 0 · sector 94
DIVIDEND 0 · sector 38

VALUE 0: the price sits above our fair-value range.

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 Farm Products stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Muyuan Foods Group 002714 ¥40.90 ¥48.19 +18%
Wens Foodstuff Group 300498 ¥14.51 ¥12.08 -17%
Mowi ASA MOWI kr 188.40 kr 262.59 +39%
PT Charoen Pokphand Indonesia Tbk, CPIN 3,120 IDR 7,076 IDR +127%
Charoen Pokphand Foods Public Company CPF 22.00 THB 55.71 THB +153%
PT Triputra Agro Persada Tbk TAPG 1,540 IDR 3,105 IDR +102%
PT FAP Agri Tbk FAPA 7,300 IDR 7,463 IDR +2%
PT Japfa Comfeed Indonesia Tbk JPFA 2,070 IDR 7,231 IDR +249%
Thaifoods Group TFGR 10.60 THB 23.53 THB +122%
PT Jhonlin Agro Raya Tbk JARR 1,845 IDR 610.80 IDR -67%

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Frequently asked questions

Is PT Esta Indonesia Tbk (NEST) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 84.58 IDR versus a price of 735.00 IDR, about −88% (overvalued).
What is the fair value of NEST?
Our model-based fair value for PT Esta Indonesia Tbk is 84.58 IDR (as of Jul 11, 2026), built from audited fundamentals. The current price is 735.00 IDR.
What is the quality score of NEST?
PT Esta Indonesia Tbk has a Quality Score of 40/100. 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 Esta Indonesia Tbk (NEST)?
PT Esta Indonesia Tbk reported trailing-twelve-month revenue of about 361B IDR (latest available figure, as of Jul 11, 2026).
What is the net profit margin of NEST?
The net profit margin of PT Esta Indonesia Tbk is about 6.4%, meaning it keeps roughly 6.4% 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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