Rukun Raharja Tbk (RAJA) Fair Value & Analysis
Utilities · ID · Market cap 19.4T IDR
Strengths
Risks
Fair value as of: Aug 23, 2026
From 26 valuation models · updated today
Fair value updated Aug 23, 2026, revised from 0.0200 IDR to 287.10 IDR (+1,435,400.0%) since Aug 13, 2026. Share price −10.1% over the past month.
Below-average quality, and screening another 66% overvalued on our models.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (358.88 IDR). The favourable scenario is already priced in.
- Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (161.96 IDR to 358.88 IDR) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.
How to read this chart
60‑month range 147.98 IDR – 8,018 IDR · fair‑value band 161.96 IDR – 358.88 IDR · the 850.00 IDR price screens above the 287.10 IDR fair value. Dashed = 300-day average. As of Aug 23, 2026.
Analysis
Rukun Raharja Tbk (RAJA) currently trades at 850.00 IDR, while our model-based Fair Value estimate is 287.10 IDR, implying the stock looks roughly 66.2% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Utilities 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, Rukun Raharja Tbk generated revenue of 256M IDR at a net margin of 11.4%. Revenue declined 16.4% year over year. It earns a return on equity of 14.6%. Net debt stands at 62.7M IDR. Fundamentals as of Aug 23, 2026
Our scenario range runs from 161.96 IDR (bear case) to 358.88 IDR (bull case); at 850.00 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. For context, the median of 10 Utilities peers we cover trades at 2% fair-value upside, at -66%, RAJA 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.
All 26 models by family
Widest divergence: Growth Earnings (717.75 IDR) versus Dividend Discount (143.55 IDR). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 15
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 Rukun Raharja Tbk, together with its subsidiaries, operates as an integrated energy provider in Indonesia. The company involved in the trading of natural gas and CNG; transportation of gas; maintenance and operations of gas infrastructure; gas compression services, water treatment services; and management of LPG terminal facilities.
Full company description
PT Rukun Raharja Tbk, together with its subsidiaries, operates as an integrated energy provider in Indonesia. The company involved in the trading of natural gas and CNG; transportation of gas; maintenance and operations of gas infrastructure; gas compression services, water treatment services; and management of LPG terminal facilities. It also provides management and consultancy services, as well as engages in power generation, mining, trading, and construction activities. PT Rukun Raharja Tbk was founded in 1993 and is headquartered in Jakarta Pusat, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Rukun Raharja Tbk reported revenue of 263M IDR in FY2025 versus 98.1M IDR in FY2021, a compound +28.0%/yr. Reported net income was 26.9M IDR in FY2025, compounding +85.9%/yr from FY2021.
of which total revenue +2.5 pp · buybacks/dilution −0.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
RAJA screens 66% overvalued. Compare with Naturgy Energy Group →
Peer Group
Utilities - Regulated Gas · 105 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.
Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper
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: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Naturgy Energy Group NTGY | €28.94 | €31.58 | +9% |
| Atmos Energy Corporation ATO | $169.59 | $85.67 | -49% |
| NiSource Inc NI | $42.50 | $28.59 | -33% |
| Uniper SE UN0 | €47.45 | €48.32 | +2% |
| The Hong Kong and China Gas Company 0003 | HK$6.76 | HK$4.79 | -29% |
| GAIL (India) Limited GAIL | ₹177.95 | ₹130.21 | -27% |
| Adani Total Gas Limited ATGL | ₹654.05 | ₹101.36 | -85% |
| ENN Natural Gas Co 600803 | ¥17.51 | ¥25.71 | +47% |
| ENN Energy Holdings 2688 | HK$47.16 | HK$107.98 | +129% |
| China Suntien Green Energy Corporation 600956 | ¥7.26 | ¥7.37 | +2% |
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Frequently asked questions
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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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