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PT Global Sukses Solusi Tbk (RUNS) Fair Value & Analysis

Technology · ID · Market cap 68.7B IDR

PG PT Global Sukses Solusi Tbk RUNS · JK
Price63.00 IDR
Fair Value27.44 IDR
Upside-56.4%
Quality45/100
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Weak Growth
Loss-making · -44.3% net margin
Low debt · generates free cash flow
Trails peers (1/9)
Narrow moat 15/100
Evidence: Medium Range 16.65 IDR – 38.23 IDR Share as image

Fair value as of: Jul 16, 2026

From 9 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 93.23 IDR to 27.44 IDR (−70.6%) since Jun 24, 2026. Share price −8.7% over the past month.

Below-average quality, and screening another 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (38.23 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (16.65 IDR to 38.23 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

833.65 IDR 45.00 IDR Fair Value 27.44 IDR Sep 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

59‑month range 45.00 IDR – 833.65 IDR · fair‑value band 16.65 IDR – 38.23 IDR · the 63.00 IDR price screens above the 27.44 IDR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Global Sukses Solusi Tbk (RUNS) currently trades at 63.00 IDR, while our model-based Fair Value estimate is 27.44 IDR, implying the stock looks roughly 56.4% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology 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 Global Sukses Solusi Tbk generated revenue of 17.2B IDR at a net margin of -44.3%. Revenue declined 59.0% year over year. It earns a return on equity of -12.0%. Net debt stands at 8.4B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 16.65 IDR (bear case) to 38.23 IDR (bull case); at 63.00 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 about 57% below its 52-week high and 37% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -56%, RUNS 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.

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
Growth DCF 29.48 IDR 71.03 IDR 147.16 IDR 80
Rev-Margin DCF 20.08 IDR 46.10 IDR 83.65 IDR 74
Gordon GGM 2.81 IDR 5.84 IDR 9.26 IDR 70
All 9 models by family
DCF Models
FCF DCF 30.99 IDR 62.83 IDR 147.86 IDR 38
5Y Revenue Exit 20.08 IDR 45.78 IDR 86.37 IDR 39
10Y Revenue Exit 22.26 IDR 50.81 IDR 92.34 IDR 36
Dividend Discount
Gordon GGM 2.81 IDR 5.84 IDR 9.26 IDR 70
DDM Multi-Stage 2.81 IDR 4.92 IDR 6.13 IDR 61
Multiples
EV/Revenue 14.74 IDR 25.53 IDR 36.32 IDR 43
Asset-Based
NCAV (Graham) 27.94 IDR 37.44 IDR 55.88 IDR 50
Growth DCF
Growth DCF 29.48 IDR 71.03 IDR 147.16 IDR 80
Rev-Margin DCF 20.08 IDR 46.10 IDR 83.65 IDR 74

Widest divergence: DCF Models (50.81 IDR) versus Dividend Discount (4.92 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 17.2B IDR
Revenue growth (YoY) -59.0%
Net margin -44.3%
Return on equity -12.0%
Free cash flow 2.7B IDR FY2025
Operating margin -125%
More key figures
EPS (TTM) -12.86 IDR
Net debt 8.4B IDR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 30

Profitability 6
Margins and returns on capital today
Quality Growth 7
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 55
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 Global Sukses Solusi Tbk provides enterprise resource planning software solutions under the RUN System brand name for various business processes in Southeast Asia.

Full company description

PT Global Sukses Solusi Tbk provides enterprise resource planning software solutions under the RUN System brand name for various business processes in Southeast Asia. The company provides various solutions for cost control, cash flow management, asset management, enterprise accounting, account payable, and account receivable; sales management, international trade logistics, and distribution management; and purchasing management, contract management, raw material purchasing, and e-procurement. It also offers material management, warehouse management system, and inventory management; production management, production planning, capacity planning, and material requirement planning; and performance, organization, assessment, training, and recruitment management services. In addition, the company provides custom application development, professional, and information technology services. It serves the manufacturing, construction, mining and quarrying, financial services, agriculture and forestry, industrial park, property, professional services, and tourism and hospitality sectors. PT Global Sukses Solusi Tbk was founded in 2014 and is headquartered in Yogyakarta, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Global Sukses Solusi Tbk reported revenue of 17.2B IDR in FY2025 versus 4.9B IDR in FY2021, a compound +36.6%/yr. Reported net income was −7.6B IDR in FY2025.

Growth Quality 15/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
17.2B IDR
Latest YoY
−18.5%
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.
−18.1%
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.
−5.3%
Avg. growth/yr (6Y) 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.
+19.4%
Revenue +36.6%/yr
FY21 4.9B IDR
FY22 31.3B IDR
FY23 27.7B IDR
FY24 21.1B IDR
FY25 17.2B IDR
Net income
FY21 −10.9B IDR
FY22 2.9B IDR
FY23 −6.9B IDR
FY24 −3.2B IDR
FY25 −7.6B IDR

RUNS screens 56% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "PT Global Sukses Solusi Tbk Fair Value". https://www.fairvalue-calculator.com/stock/RUNS

Peer Group

Software - Application · 709 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 45 · Below median
Fair Value upside −56% · Below median
Return on assets -5% · Bottom 25%
Net margin (TTM) -44% · Bottom 25%
Operating margin (TTM) -125% · Bottom 25%
Revenue growth -59% · Bottom 25%
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/FCF 0.0× · Cheaper 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 0
FUTURE 0 · sector 38
PAST 0 · sector 13
HEALTH 89 · sector 98
DIVIDEND 0 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is PT Global Sukses Solusi Tbk (RUNS) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 27.44 IDR versus a price of 63.00 IDR, about −56% (overvalued).
What is the fair value of RUNS?
Our model-based fair value for PT Global Sukses Solusi Tbk is 27.44 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 63.00 IDR.
What is the quality score of RUNS?
PT Global Sukses Solusi Tbk has a Quality Score of 45/100. 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 Global Sukses Solusi Tbk (RUNS)?
PT Global Sukses Solusi Tbk reported trailing-twelve-month revenue of about 17.2B IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of RUNS?
The net profit margin of PT Global Sukses Solusi Tbk is about -44.3%, 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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