Surya Biru Murni Acetylene Tbk PT (SBMA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Surya Biru Murni Acetylene Tbk PT IDR 123, price IDR 115, upside +7.4%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 92.12 IDR – 480.39 IDR · fair‑value band 79.12 IDR – 160.54 IDR · the 115.00 IDR price screens below the 123.49 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT Surya Biru Murni Acetylene Tbk produces chemical industrial gases in Indonesia.
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PT Surya Biru Murni Acetylene Tbk produces chemical industrial gases in Indonesia. It offers acetylene, oxygen, and nitrogen, as well as argon, carbon dioxide, helium, and mixed gases; and new air separation plant, cylinder maintenance, gas equipment and installation, transport and distribution, gas chromatograph, and gases for laboratory and testing applications. PT Surya Biru Murni Acetylene Tbk was founded in 1980 and is headquartered in Balikpapan, Indonesia. PT Surya Biru Murni Acetylene Tbk is a subsidiary of PT Surya Biru Titilea Investama.
Stock analysis
Surya Biru Murni Acetylene Tbk PT (SBMA) currently trades at 115.00 IDR, while our model-based Fair Value estimate is 123.49 IDR, implying the stock looks roughly 6.9% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 225.30 IDR per share, and 24 of the 26 models we run sit above the 115.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 60.50 IDR, and 2 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 79.12 IDR (bear) to 160.54 IDR (bull), the price of 115.00 IDR sits inside 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 55/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Surya Biru Murni Acetylene Tbk PT reported revenue of 137B IDR in FY2025 versus 88.3B IDR in FY2021, a compound +11.7%/yr. Reported net income was 11.8B IDR in FY2025, compounding +12.3%/yr from FY2021.
Key figures
Market cap 107B IDR (≈ $6.0M) · P/E ratio 9.7 · P/S ratio 0.84 · EPS (TTM) 11.82 IDR · Dividend yield 3.7% · Net margin 8.6% · Return on equity 3.0% · Return on assets (EBIT) 5.2%.
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 22% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −27% fair-value upside, at 7%, SBMA screens cheaper than that median.
Fair Value models
Bear 79.12 IDRFair Value 123.49 IDRBull 160.54 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 (8.68 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.83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.2%
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.
+9.8%
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.
+13.1%
Start year 2020 (pandemic)
Revenue growth 7 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.
+10.9%
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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.
+23.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.5%
Dividend (yield on the price)3.7%
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% → 14%
2025 sits 149% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less 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).
+6.7%
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 +4.0% a year for the price.
Compare Surya Biru Murni Acetylene Tbk PT with another stock
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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.Chemicals · 352 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+7% · Above median
Profitability
Return on equity (TTM)3% · Below median
Return on assets3% · Above median
Net margin (TTM)5% · Above median
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth−5% · Below median
Dividend yield (TTM)3.7% · Top 25%
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Chemicals median · lower = cheaper
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Is Surya Biru Murni Acetylene Tbk PT (SBMA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 123.49 IDR versus a price of 115.00 IDR, about +7% upside (fairly valued).
What is the fair value of SBMA?
Our model-based fair value for Surya Biru Murni Acetylene Tbk PT is 123.49 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 115.00 IDR.
What is the quality score of SBMA?
Surya Biru Murni Acetylene Tbk PT has a Quality Score of 55/100. 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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
Our model-based price target is the fair value of 123.49 IDR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 79.12 IDR, optimistic scenario 160.54 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Surya Biru Murni Acetylene Tbk PT stock forecast for 2026?
Our models put fair value at 123.49 IDR, about +7% upside versus a price of 115.00 IDR (fairly valued). Cautious scenario 79.12 IDR, optimistic scenario 160.54 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Surya Biru Murni Acetylene Tbk PT (SBMA)?
Surya Biru Murni Acetylene Tbk PT reported trailing-twelve-month revenue of about 134B IDR (latest available figure, as of Sep 24, 2026).
Does Surya Biru Murni Acetylene Tbk PT pay a dividend?
Surya Biru Murni Acetylene Tbk PT currently shows a dividend yield of about 3.67% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Surya Biru Murni Acetylene Tbk PT (SBMA)?
For today's price to be fair in a discounted-cash-flow model, Surya Biru Murni Acetylene Tbk PT would have to grow free cash flow by +6.7 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SBMA use?
Our models discount Surya Biru Murni Acetylene Tbk PT at 12.0 %: a base by market capitalisation (nano), 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 Surya Biru Murni Acetylene Tbk PT that is +6.7 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Surya Biru Murni Acetylene Tbk PT (SBMA) delivered so far?
Over the past 5 years revenue at Surya Biru Murni Acetylene Tbk PT grew +13.1 % a year. The price currently implies +6.7 % 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 Surya Biru Murni Acetylene Tbk PT (SBMA) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Surya Biru Murni Acetylene Tbk PT (+6.7 % 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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
The free-cash-flow yield on the price is 8.03 %: that much free cash flow Surya Biru Murni Acetylene Tbk PT produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Surya Biru Murni Acetylene Tbk PT (SBMA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Surya Biru Murni Acetylene Tbk PT it is 123.49 IDR per share (as of Sep 24, 2026), against a price of 115.00 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Surya Biru Murni Acetylene Tbk PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SBMA trades below its calculated fair value: price 115.00 IDR, fair value 123.49 IDR, a gap of about +7% (fairly valued). 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 SBMA?
No. The price is what the market pays today (115.00 IDR); the fair value is what the company's own numbers justify (123.49 IDR). For Surya Biru Murni Acetylene Tbk PT the two are 8.49 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Surya Biru Murni Acetylene Tbk PT worth?
The market values Surya Biru Murni Acetylene Tbk PT at about 107B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 115.00 IDR; our models calculate a fair value of 123.49 IDR per share.
What do the bullish and bearish scenarios say about SBMA?
Our models span a range for Surya Biru Murni Acetylene Tbk PT: cautious scenario 79.12 IDR, base 123.49 IDR, optimistic 160.54 IDR per share (as of Sep 24, 2026, price 115.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SBMA?
Surya Biru Murni Acetylene Tbk PT trades at a price-to-earnings ratio of 9.7 (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 123.49 IDR is built from several models across several years. Other multiples: P/B 0.5, P/S 0.8, EV/EBITDA 6.0.
How solid is the balance sheet of Surya Biru Murni Acetylene Tbk PT (SBMA)?
Balance-sheet figures for Surya Biru Murni Acetylene Tbk PT (as of Sep 24, 2026): return on equity 3.0%, debt of 0.05 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is SBMA from its 52-week high?
Surya Biru Murni Acetylene Tbk PT trades at 115.00 IDR, about 22% below its 52-week high of 146.60 IDR and 25% above the low of 92.12 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 123.49 IDR is for.
Which stocks are comparable to Surya Biru Murni Acetylene Tbk PT?
From the same area (Basic Materials) we also value BASF SE, Saudi Basic Industries Corporation, Ningxia Baofeng Energy Group, Dow Inc, 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 Surya Biru Murni Acetylene Tbk PT stock attractive at the current price?
The data as of Sep 24, 2026: price 115.00 IDR, calculated fair value 123.49 IDR (+7%), Quality Score 55/100, from 26 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 SBMA calculated?
We run Surya Biru Murni Acetylene Tbk PT through 26 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 123.49 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. Surya Biru Murni Acetylene Tbk PT currently trades 7 % 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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
The closing price on Sep 24, 2026 was 115.00 IDR. Our model-based fair value is 123.49 IDR, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Surya Biru Murni Acetylene Tbk PT right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (79.12 IDR to 160.54 IDR) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Surya Biru Murni Acetylene Tbk PT
How large is the market capitalisation of Surya Biru Murni Acetylene Tbk PT (SBMA)?
The market capitalisation of Surya Biru Murni Acetylene Tbk PT is 107B IDR (≈ $6.0M). 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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
The price-to-sales ratio of Surya Biru Murni Acetylene Tbk PT is 0.84 (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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
Earnings per share at Surya Biru Murni Acetylene Tbk PT are 11.82 IDR (price ÷ EPS = P/E 9.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Surya Biru Murni Acetylene Tbk PT (SBMA)?
The dividend yield of Surya Biru Murni Acetylene Tbk PT is 3.7% (payout 35.7%). 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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
The net margin of Surya Biru Murni Acetylene Tbk PT is 8.6% (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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
The return on equity (ROE) of Surya Biru Murni Acetylene Tbk PT is 3.0% (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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
On an EBIT basis the return on assets of Surya Biru Murni Acetylene Tbk PT is 5.2% (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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
The operating margin of Surya Biru Murni Acetylene Tbk PT is 9.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Surya Biru Murni Acetylene Tbk PT (SBMA)?
Revenue at Surya Biru Murni Acetylene Tbk PT is growing −5.0% versus a year earlier (3y avg +9.8%). 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 Surya Biru Murni Acetylene Tbk PT (SBMA)?
Earnings per share at Surya Biru Murni Acetylene Tbk PT are growing −64.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Surya Biru Murni Acetylene Tbk PT (SBMA) carry?
The net debt of Surya Biru Murni Acetylene Tbk PT is 19.4B IDR (fiscal year 2025, ≈ 2.3 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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