Phapros Tbk PT (PEHA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Phapros Tbk PT IDR 734, price IDR 292, upside +151.4%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Phapros Tbk, together with its subsidiaries, operates in the pharmaceutical industry in Indonesia. The company operates through Ethical; Over the Counter (OTC) Drugs; Generic Drugs Bearing (OCB); and Toll-in segments.
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PT Phapros Tbk, together with its subsidiaries, operates in the pharmaceutical industry in Indonesia. The company operates through Ethical; Over the Counter (OTC) Drugs; Generic Drugs Bearing (OCB); and Toll-in segments. It offers OTC drugs, including Antimo Anak, Antimo tablet, Livron B Plex, Becefort Sirop and tablet, Noza, Febrinex, Betafort suspensi, and Hemorogard. The company also provides ethical generic and branded products; and medical devices, as well as toll manufacturing. It also exports its products. The company was founded in 1954 and is headquartered in Jakarta Selatan, Indonesia. PT Phapros Tbk is a subsidiary of PT Kimia Farma Tbk.
Stock analysis
Phapros Tbk PT (PEHA) currently trades at 292.00 IDR, while our model-based Fair Value estimate is 734.16 IDR, implying the stock looks roughly 60.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 983.15 IDR per share, and 22 of the 25 models we run sit above the 292.00 IDR price.
Bear case: the Earnings-Based group reads lowest at 315.30 IDR, and 3 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: 483.46 IDR (bear) to 917.69 IDR (bull), the price of 292.00 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 66/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Phapros Tbk PT reported revenue of 941B IDR in FY2025 versus 1.1T IDR in FY2021, a compound −2.7%/yr. Reported net income was 28.0B IDR in FY2025, compounding +26.1%/yr from FY2021.
Key figures
Market cap 245B IDR (≈ $13.7M) · P/E ratio 7.0 · P/S ratio 0.21 · EPS (TTM) 42.01 IDR · Dividend yield 1.7% · Net margin 3.0% · Return on equity 8.4% · Return on assets (EBIT) 0.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 39% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at 151%, PEHA screens cheaper than that median.
Fair Value models
Bear 483.46 IDRFair Value 734.16 IDRBull 917.69 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 (27.17 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+26.3%
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.
−7.0%
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.
−0.8%
Start year 2020 (pandemic). Over 10 years: +3.1% a year
Revenue growth 14 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.
+5.1%
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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. Basis: EBIT basis. 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.
≈ −9.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.4%
Dividend (yield on the price)1.7%
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.−10% vs −8%, 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.16% → 9%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 65% above its own trend.
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).
+3.0%
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 +0.4% a year for the price.
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.Drug Manufacturers - Specialty & Generic · 629 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+151% · Top 25%
Profitability
Return on equity (TTM)8% · Above median
Return on assets6% · Above median
Net margin (TTM)4% · Below median
Operating margin (TTM)6% · Below median
Growth and dividend
Revenue growth10% · Above median
Dividend yield (TTM)1.7% · Above median
Balance sheet
Debt / equity1.39× · Highest 25%
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Is Phapros Tbk PT (PEHA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 734.16 IDR versus a price of 292.00 IDR, about +151% upside (undervalued).
What is the fair value of PEHA?
Our model-based fair value for Phapros Tbk PT is 734.16 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 292.00 IDR.
What is the quality score of PEHA?
Phapros Tbk PT has a Quality Score of 66/100. 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 Phapros Tbk PT (PEHA)?
Our model-based price target is the fair value of 734.16 IDR (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 483.46 IDR, optimistic scenario 917.69 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Phapros Tbk PT stock forecast for 2026?
Our models put fair value at 734.16 IDR, about +151% upside versus a price of 292.00 IDR (undervalued). Cautious scenario 483.46 IDR, optimistic scenario 917.69 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Phapros Tbk PT (PEHA)?
Phapros Tbk PT reported trailing-twelve-month revenue of about 961B IDR (latest available figure, as of Sep 24, 2026).
Does Phapros Tbk PT pay a dividend?
Phapros Tbk PT currently shows a dividend yield of about 1.72% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Phapros Tbk PT (PEHA)?
For today's price to be fair in a discounted-cash-flow model, Phapros Tbk PT would have to grow free cash flow by +3.0 % 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 -0.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PEHA use?
Our models discount Phapros Tbk PT at 10.5 %: a base by market capitalisation (nano), damped by beta 0.37, 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 Phapros Tbk PT that is +3.0 % 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 Phapros Tbk PT (PEHA) delivered so far?
Over the past 5 years revenue at Phapros Tbk PT grew -0.8 % a year. The price currently implies +3.0 % 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 Phapros Tbk PT (PEHA) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Phapros Tbk PT (+3.0 % 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 Phapros Tbk PT (PEHA)?
The free-cash-flow yield on the price is 26.50 %: that much free cash flow Phapros Tbk PT 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 Phapros Tbk PT (PEHA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Phapros Tbk PT it is 734.16 IDR per share (as of Sep 24, 2026), against a price of 292.00 IDR. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Phapros Tbk PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PEHA trades below its calculated fair value: price 292.00 IDR, fair value 734.16 IDR, a gap of about +151% (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 PEHA?
No. The price is what the market pays today (292.00 IDR); the fair value is what the company's own numbers justify (734.16 IDR). For Phapros Tbk PT the two are 442.16 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Phapros Tbk PT worth?
The market values Phapros Tbk PT at about 245B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 292.00 IDR; our models calculate a fair value of 734.16 IDR per share.
What do the bullish and bearish scenarios say about PEHA?
Our models span a range for Phapros Tbk PT: cautious scenario 483.46 IDR, base 734.16 IDR, optimistic 917.69 IDR per share (as of Sep 24, 2026, price 292.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PEHA?
Phapros Tbk PT trades at a price-to-earnings ratio of 7.0 (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 734.16 IDR is built from several models across several years. Other multiples: P/B 0.6, P/S 0.3, EV/EBITDA 4.1.
How solid is the balance sheet of Phapros Tbk PT (PEHA)?
Balance-sheet figures for Phapros Tbk PT (as of Sep 24, 2026): return on equity 8.4%, debt of 1.39 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is PEHA from its 52-week high?
Phapros Tbk PT trades at 292.00 IDR, about 22% below its 52-week high of 376.77 IDR and 39% above the low of 209.97 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 734.16 IDR is for.
Which stocks are comparable to Phapros Tbk PT?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, 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 Phapros Tbk PT stock attractive at the current price?
The data as of Sep 24, 2026: price 292.00 IDR, calculated fair value 734.16 IDR (+151%), Quality Score 66/100, from 25 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 PEHA calculated?
We run Phapros Tbk PT through 25 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 734.16 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 14.0 % above its aggregate fair value. Phapros Tbk PT currently trades 151 % 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 Phapros Tbk PT (PEHA)?
The closing price on Sep 24, 2026 was 292.00 IDR. Our model-based fair value is 734.16 IDR, about +151% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Phapros Tbk PT right now?
The price is below even our cautious bear case (483.46 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 (66/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (483.46 IDR to 917.69 IDR) leaves room in how you read the outcome.
Where does the earnings growth of Phapros Tbk PT (PEHA) come from?
Earnings per share at Phapros Tbk PT grew −13.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.9 %, EBIT margin −6.0 %, tax rate −1.6 %, residual (interest, one-offs) −10.4 %. 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 Phapros Tbk PT
How large is the market capitalisation of Phapros Tbk PT (PEHA)?
The market capitalisation of Phapros Tbk PT is 245B IDR (≈ $13.7M). 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 Phapros Tbk PT (PEHA)?
The price-to-sales ratio of Phapros Tbk PT is 0.21 (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 Phapros Tbk PT (PEHA)?
Earnings per share at Phapros Tbk PT are 42.01 IDR (price ÷ EPS = P/E 7.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Phapros Tbk PT (PEHA)?
The dividend yield of Phapros Tbk PT is 1.7% (payout 11.9%). 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 Phapros Tbk PT (PEHA)?
The net margin of Phapros Tbk PT is 3.0% (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 Phapros Tbk PT (PEHA)?
The return on equity (ROE) of Phapros Tbk PT is 8.4% (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 Phapros Tbk PT (PEHA)?
On an EBIT basis the return on assets of Phapros Tbk PT is 0.0% (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 Phapros Tbk PT (PEHA)?
The operating margin of Phapros Tbk PT is 6.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Phapros Tbk PT (PEHA)?
Revenue at Phapros Tbk PT is growing +10.2% versus a year earlier (3y avg −7.0%). 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 Phapros Tbk PT (PEHA)?
Earnings per share at Phapros Tbk PT are growing +92.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Phapros Tbk PT (PEHA) carry?
The net debt of Phapros Tbk PT is 586B IDR (fiscal year 2025, ≈ 9.0 yrs of FCF). 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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