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PT NFC Indonesia Tbk, (NFCX) Fair Value & Analysis

Communication Services · ID · Market cap 1.0T IDR

PN PT NFC Indonesia Tbk, NFCX · JK
Price1,520 IDR
Fair Value287.17 IDR
Upside-81.1%
Quality54/100
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Weak Growth
Loss-making · 0.0% net margin
Low debt · negative free cash flow
Trails peers (0/8)
Narrow moat 24/100
Evidence: Medium Range 213.17 IDR – 287.17 IDR Share as image

Fair value as of: Jul 12, 2026

From 17 valuation models · updated 29 days ago

Share price −3.5% over the past month.

A solid business, but screening 81% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (287.17 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

13,400 IDR 1,035 IDR Fair Value 287.17 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 1,035 IDR – 13,400 IDR · fair‑value band 213.17 IDR – 287.17 IDR · the 1,520 IDR price screens above the 287.17 IDR fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

PT NFC Indonesia Tbk, (NFCX) currently trades at 1,520 IDR, while our model-based Fair Value estimate is 287.17 IDR, implying the stock looks roughly 81.1% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Communication Services 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).

Trailing-twelve-month revenue stands at 3.7T IDR. Revenue declined 37.0% year over year. It earns a return on equity of -0.5%. Net debt stands at 98.6B IDR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 213.17 IDR (bear case) to 287.17 IDR (bull case); at 1,520 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 about 34% below its 52-week high and 48% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 2% fair-value upside, at -81%, NFCX 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 (10.08 IDR to 2,393 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 303.42 IDR 287.17 IDR 229.54 IDR 76
ROIC Compounder 223.33 IDR 231.27 IDR 238.32 IDR 72
Gordon GGM 5.64 IDR 12.31 IDR 20.71 IDR 70
All 17 models by family
DCF Models
Owner Earnings 1,123 IDR 2,393 IDR 5,176 IDR 31
Earnings-Based
Graham-Dodd 57.96 IDR 404.23 IDR 567.27 IDR 54
Lynch FV 208.84 IDR 298.34 IDR 387.84 IDR 50
PEG = 1.0 208.84 IDR 298.34 IDR 387.84 IDR 46
EPV 223.33 IDR 231.27 IDR 238.32 IDR 59
Dividend Discount
Gordon GGM 5.64 IDR 12.31 IDR 20.71 IDR 70
DDM Multi-Stage 5.64 IDR 10.08 IDR 12.83 IDR 61
Multiples
P/E Multiple 140.65 IDR 187.53 IDR 234.41 IDR 63
P/S Multiple 108.68 IDR 144.91 IDR 181.13 IDR 58
P/B Multiple 108.68 IDR 144.91 IDR 181.13 IDR 55
EV/EBIT 299.78 IDR 340.26 IDR 380.73 IDR 53
EV/EBITDA 1,315 IDR 1,694 IDR 2,073 IDR 54
EV/Revenue 260.21 IDR 295.29 IDR 330.37 IDR 43
Asset-Based
NCAV (Graham) 213.17 IDR 285.65 IDR 426.35 IDR 50
Economic Profit
Residual Income 303.42 IDR 287.17 IDR 229.54 IDR 76
ROIC Compounder 223.33 IDR 231.27 IDR 238.32 IDR 72
Growth Earnings
Growth-Adj P/E 277.22 IDR 396.02 IDR 514.83 IDR 68

Widest divergence: DCF Models (2,393 IDR) versus Dividend Discount (10.08 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 3.7T IDR
Revenue growth (YoY) -37.0%
Net margin 0.0%
Return on equity -0.5%
Free cash flow −17.3B IDR FY2025
Operating margin 0.7%
More key figures
EPS (TTM) -1.26 IDR
EPS growth (YoY) -89.0%
Net debt 98.6B IDR FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 51 · Market factors (momentum, volatility) 44

Profitability 35
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 25
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 NFC Indonesia Tbk, together with its subsidiaries, engages in the provision of marketing platforms in Indonesia. It operates through Digital Product Aggregator, Digital Cloud Advertisement, Clean Energy Products and Services, Digital Wholesale, and Content and Entertainment segments.

Full company description

PT NFC Indonesia Tbk, together with its subsidiaries, engages in the provision of marketing platforms in Indonesia. It operates through Digital Product Aggregator, Digital Cloud Advertisement, Clean Energy Products and Services, Digital Wholesale, and Content and Entertainment segments. The company offers various digital products for SMEs, modern retail, and e-commerce through a B2B2C platform; digital cloud marketing ecosystem solution through hardware, content management system and managed service contract; and transportation products and infrastructure under the electric motorcycle Volta brand name. It is also involved in the management of collection of superhero characters with intellectual property and digital activation platform. The company was founded in 2013 and is based in Jakarta, Indonesia. PT NFC Indonesia Tbk operates as a subsidiary of PT M Cash Integrasi Tbk.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT NFC Indonesia Tbk, reported revenue of 4.1T IDR in FY2025 versus 8.9T IDR in FY2021, a compound −17.7%/yr. Reported net income was 5.6B IDR in FY2025, compounding −56.8%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.1T IDR
Latest YoY
−33.0%
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.
−25.5%
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.
−11.7%
Avg. growth/yr (10Y) 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.
+82.6%
Revenue −17.7%/yr
FY21 8.9T IDR
FY22 9.8T IDR
FY23 9.5T IDR
FY24 6.1T IDR
FY25 4.1T IDR
Net income −56.8%/yr
FY21 162B IDR
FY22 23.5B IDR
FY23 −277B IDR
FY24 −70.3B IDR
FY25 5.6B IDR

NFCX screens 81% overvalued. Compare with Alphabet Inc →

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

Peer Group

Internet Content & Information · 151 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 54 · Below median
Fair Value upside −81% · Bottom 25%
Return on assets 0% · Below median
Net margin (TTM) -0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth -37% · Bottom 25%
Debt / equity 0.10× · Higher than median

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 0
FUTURE 0 · sector 31
PAST 0 · sector 10
HEALTH 95 · sector 99
DIVIDEND 0 · sector 43

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 Internet Content & Information stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

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Spotify Technology S.A SPOT $485.38 $209.56 -57%
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Frequently asked questions

Is PT NFC Indonesia Tbk, (NFCX) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 287.17 IDR versus a price of 1,520 IDR, about −81% (overvalued).
What is the fair value of NFCX?
Our model-based fair value for PT NFC Indonesia Tbk, is 287.17 IDR (as of Jul 12, 2026), built from audited fundamentals. The current price is 1,520 IDR.
What is the quality score of NFCX?
PT NFC Indonesia Tbk, has a Quality Score of 54/100. 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 NFC Indonesia Tbk, (NFCX)?
PT NFC Indonesia Tbk, reported trailing-twelve-month revenue of about 3.7T IDR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of NFCX?
The net profit margin of PT NFC Indonesia Tbk, is about 0.0%, meaning it is currently running at a net loss. 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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