Rig Tenders Tbk (RIGS) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Rig Tenders Tbk IDR 4,151, price IDR 640, upside +548.5%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Rig Tenders Indonesia Tbk provides marine logistics services for the oil and coal industry in Indonesia.
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PT Rig Tenders Indonesia Tbk provides marine logistics services for the oil and coal industry in Indonesia. It offers vessels to support operations such as seismic survey support; anchor handling; mobilization/de-mobilization towing; assisting and mooring of FPSO, FSO, tankers, platforms, and rigs; fire-fighting and oil spill recovery; running cargoes to platforms and rigs; general logistic support; food and fresh water supply; transportation for personnel, bulk, and deck cargoes; chartering of offshore accommodation barges; maintenance support; and protecting, patrolling, and supporting pipe line laying, as well as protecting oil and gas fields from unnecessary ships and boats. The company also offers coal services, which include transportation of ships in the port, as well as delivery services. In addition, it provides ship management services, including inward/outward clearance for vessels, offshore operation permits, entry/exit permits for crew and vessels, and crew changes. The company's fleet comprises 62 units of tugboats, flat tops, and discharging and self-discharging barges. The company was incorporated in 1974 and is headquartered in Jakarta, Indonesia. PT Rig Tenders Indonesia Tbk is a subsidiary of PT Surya Indah Muara Pantai.
Stock analysis
Rig Tenders Tbk (RIGS) currently trades at 640.00 IDR, while our model-based Fair Value estimate is 4,151 IDR, implying the stock looks roughly 84.6% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 7,188 IDR per share, and 24 of the 24 models we run sit above the 640.00 IDR price.
Bear case: the Asset-Based group reads lowest at 939.32 IDR, and 0 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 2,506 IDR (bear) to 6,741 IDR (bull), the price of 640.00 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 65/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Rig Tenders Tbk reported revenue of 366B IDR in FY2025 versus 246B IDR in FY2021, a compound +10.5%/yr. Reported net income was 95.6B IDR in FY2025.
Key figures
Market cap 390B IDR (≈ $21.8M) · P/E ratio 4.5 · P/S ratio 1.18 · EPS (TTM) 141.86 IDR · Net margin 26.1% · Return on equity 6.9% · Return on assets (EBIT) 4.5% · Operating margin 8.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 57% fair-value upside, at 549%, RIGS screens cheaper than that median.
Fair Value models
Bear 2,506 IDRFair Value 4,151 IDRBull 6,741 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 12 months old). Earnings retained since then (141.86 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.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 weak: less than 2 % a year.
Revenue growth 1 year
+5.1%
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.
+5.6%
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.
+1.5%
Start year 2020 (pandemic). Over 10 years: −4.2% a year
Revenue growth 22 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.
+2.3%
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What shareholders gained per year (last 5 years), in IDR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+47.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+47.2%
Dividend (yield on the price)0.0%
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.9% → 24%
2025 sits 53% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 4.6%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's 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.Marine Shipping · 226 stocks
Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (TTM)6.9% · Below median
Return on assets6.4% · Top 25%
Net margin (TTM)6.2% · Below median
Operating margin (TTM)8.5% · Below median
Growth and dividend
Revenue growth353.7% · Top 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
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Is Rig Tenders Tbk (RIGS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4,151 IDR versus a price of 640.00 IDR, about +549% upside (undervalued).
What is the fair value of RIGS?
Our model-based fair value for Rig Tenders Tbk is 4,151 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 640.00 IDR.
What is the quality score of RIGS?
Rig Tenders Tbk has a Quality Score of 65/100. 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 Rig Tenders Tbk (RIGS)?
Our model-based price target is the fair value of 4,151 IDR (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 2,506 IDR, optimistic scenario 6,741 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Rig Tenders Tbk stock forecast for 2026?
Our models put fair value at 4,151 IDR, about +549% upside versus a price of 640.00 IDR (undervalued). Cautious scenario 2,506 IDR, optimistic scenario 6,741 IDR. The calculation is refreshed regularly with new filings.
What growth is priced into Rig Tenders Tbk (RIGS)?
For today's price to be fair in a discounted-cash-flow model, Rig Tenders Tbk would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 11.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of RIGS use?
Our models discount Rig Tenders Tbk at 11.7 %: a base by market capitalisation (nano), damped by beta 0.92, 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 Rig Tenders Tbk that is less than minus 40 % per year a year over ten years, using the same discount rate (11.7 %) and the same formula as our fair value.
How much growth has Rig Tenders Tbk (RIGS) delivered so far?
Over the past 5 years revenue at Rig Tenders Tbk grew +1.5 % a year. The price currently implies less than minus 40 % 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 Rig Tenders Tbk (RIGS) growing?
The median revenue growth in the sector is +7.1 % a year. That is the yardstick for the growth priced into Rig Tenders Tbk (less than minus 40 % 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 Rig Tenders Tbk (RIGS)?
The free-cash-flow yield on the price is 26.02 %: that much free cash flow Rig Tenders Tbk produces per unit of market value. When it exceeds the discount rate of our models (11.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Rig Tenders Tbk (RIGS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rig Tenders Tbk it is 4,151 IDR per share (as of Sep 24, 2026), against a price of 640.00 IDR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Rig Tenders Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, RIGS trades below its calculated fair value: price 640.00 IDR, fair value 4,151 IDR, a gap of about +549% (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 RIGS?
No. The price is what the market pays today (640.00 IDR); the fair value is what the company's own numbers justify (4,151 IDR). For Rig Tenders Tbk the two are 3,511 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Rig Tenders Tbk worth?
The market values Rig Tenders Tbk at about 390B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 640.00 IDR; our models calculate a fair value of 4,151 IDR per share.
What do the bullish and bearish scenarios say about RIGS?
Our models span a range for Rig Tenders Tbk: cautious scenario 2,506 IDR, base 4,151 IDR, optimistic 6,741 IDR per share (as of Sep 24, 2026, price 640.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RIGS?
Rig Tenders Tbk trades at a price-to-earnings ratio of 4.5 (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 4,151 IDR is built from several models across several years. Other multiples: P/S 0.4.
How solid is the balance sheet of Rig Tenders Tbk (RIGS)?
Balance-sheet figures for Rig Tenders Tbk (as of Sep 24, 2026): return on equity 6.9%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is RIGS from its 52-week high?
Rig Tenders Tbk trades at 640.00 IDR, about 25% below its 52-week high of 850.00 IDR and 6% above the low of 605.00 IDR (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 4,151 IDR is for.
Which stocks are comparable to Rig Tenders Tbk?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 Rig Tenders Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 640.00 IDR, calculated fair value 4,151 IDR (+549%), Quality Score 65/100, 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 RIGS calculated?
We run Rig Tenders 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 4,151 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 14.5 % above its aggregate fair value. Rig Tenders Tbk currently trades 85 % 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 Rig Tenders Tbk (RIGS)?
The closing price on Oct 2, 2026 was 640.00 IDR. Our model-based fair value is 4,151 IDR, about +549% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rig Tenders Tbk right now?
The price is below even our cautious bear case (2,506 IDR). The market is more pessimistic than our downside scenario. The model range is unusually wide (2,506 IDR to 6,741 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (65/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Rig Tenders Tbk
How large is the market capitalisation of Rig Tenders Tbk (RIGS)?
The market capitalisation of Rig Tenders Tbk is 390B IDR (≈ $21.8M). 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 Rig Tenders Tbk (RIGS)?
The price-to-sales ratio of Rig Tenders Tbk is 1.18 (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 Rig Tenders Tbk (RIGS)?
Earnings per share at Rig Tenders Tbk are 141.86 IDR (price ÷ EPS = P/E 4.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Rig Tenders Tbk (RIGS)?
The net margin of Rig Tenders Tbk is 26.1% (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 Rig Tenders Tbk (RIGS)?
The return on equity (ROE) of Rig Tenders 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 Rig Tenders Tbk (RIGS)?
On an EBIT basis the return on assets of Rig Tenders Tbk is 4.5% (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 Rig Tenders Tbk (RIGS)?
The operating margin of Rig Tenders Tbk is 8.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rig Tenders Tbk (RIGS)?
Revenue at Rig Tenders Tbk is growing +354% versus a year earlier (3y avg +5.6%). 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 Rig Tenders Tbk (RIGS)?
Earnings per share at Rig Tenders Tbk are growing +120% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Rig Tenders Tbk (RIGS) hold?
Rig Tenders Tbk holds more cash than debt, 197B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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