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PT Solusi Bangun Indonesia Tbk, (SMCB) Fair Value & Analysis

Basic Materials · ID · Market cap 7.0T IDR

PS PT Solusi Bangun Indonesia Tbk, SMCB · JK
Price775.00 IDR
Fair Value1,242 IDR
Upside+60.2%
Quality58/100
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Weak Growth
Thin margins · 6.6% net margin
Low debt · generates free cash flow
Ranks above peers (14/15)
Narrow moat 36/100
Evidence: High Range 931.21 IDR – 1,552 IDR Share as image

Fair value as of: Jul 12, 2026

From 25 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 1,445 IDR to 1,242 IDR (−14.1%) since Jun 24, 2026.

A solid business, screening 60% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (931.21 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

1,659 IDR 545.77 IDR Fair Value 1,242 IDR Jan 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 545.77 IDR – 1,659 IDR · fair‑value band 931.21 IDR – 1,552 IDR · the 775.00 IDR price screens below the 1,242 IDR fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

PT Solusi Bangun Indonesia Tbk, (SMCB) currently trades at 775.00 IDR, while our model-based Fair Value estimate is 1,242 IDR, implying the stock looks roughly 60.2% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, PT Solusi Bangun Indonesia Tbk, generated revenue of 10.8T IDR at a net margin of 6.6%. Revenue grew 3.6% year over year. It earns a return on equity of 5.4%. Net debt stands at 1.6T IDR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 931.21 IDR (bear case) to 1,552 IDR (bull case); at 775.00 IDR, the current price sits below 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 near its 52-week high and 11% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 60%, SMCB screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF 996.27 IDR 1,459 IDR 2,128 IDR 80
Residual Income 1,146 IDR 1,172 IDR 1,150 IDR 76
Rev-Margin DCF 995.06 IDR 1,583 IDR 2,215 IDR 74
All 25 models by family
DCF Models
FCF DCF 962.94 IDR 1,459 IDR 2,206 IDR 38
Owner Earnings 1,249 IDR 1,883 IDR 2,840 IDR 31
5Y Revenue Exit 995.06 IDR 1,575 IDR 2,293 IDR 39
5Y EBITDA Exit 1,203 IDR 1,946 IDR 2,780 IDR 41
5Y P/E Exit 829.55 IDR 1,280 IDR 1,728 IDR 38
10Y Revenue Exit 939.97 IDR 1,465 IDR 2,123 IDR 36
10Y EBITDA Exit 1,107 IDR 1,722 IDR 2,487 IDR 37
10Y P/E Exit 868.39 IDR 1,261 IDR 1,699 IDR 35
Earnings-Based
Graham-Dodd 496.65 IDR 1,193 IDR 1,539 IDR 54
PEG = 1.0 209.61 IDR 299.45 IDR 389.28 IDR 46
EPV 882.57 IDR 1,049 IDR 1,196 IDR 59
Dividend Discount
Gordon GGM 387.31 IDR 710.44 IDR 1,156 IDR 70
DDM Multi-Stage 387.31 IDR 588.87 IDR 820.34 IDR 61
Multiples
P/E Multiple 931.21 IDR 1,242 IDR 1,552 IDR 63
P/S Multiple 931.21 IDR 1,242 IDR 1,552 IDR 58
P/B Multiple 931.21 IDR 1,242 IDR 1,552 IDR 55
EV/EBIT 1,256 IDR 1,694 IDR 2,132 IDR 53
EV/EBITDA 1,525 IDR 2,053 IDR 2,580 IDR 54
EV/Revenue 1,081 IDR 1,569 IDR 2,057 IDR 43
Asset-Based
NCAV (Graham) 732.01 IDR 980.90 IDR 1,464 IDR 50
Growth DCF
Growth DCF 996.27 IDR 1,459 IDR 2,128 IDR 80
Rev-Margin DCF 995.06 IDR 1,583 IDR 2,215 IDR 74
Economic Profit
Residual Income 1,146 IDR 1,172 IDR 1,150 IDR 76
ROIC Compounder 882.57 IDR 1,049 IDR 1,196 IDR 72
Growth Earnings
Growth-Adj P/E 721.16 IDR 1,030 IDR 1,339 IDR 68

Widest divergence: DCF Models (1,465 IDR) versus Dividend Discount (588.87 IDR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 10.8T IDR
Revenue growth (YoY) +3.6%
Net margin 6.6%
Return on equity 5.4%
Free cash flow 817B IDR FY2025
P/E ratio 9.3
More key figures
Operating margin 6.7%
EPS (TTM) 83.00 IDR
EPS growth (YoY) +111%
Net debt 1.6T IDR FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 56 · Market factors (momentum, volatility) 68

Profitability 30
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 82
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 Solusi Bangun Indonesia Tbk, together with its subsidiaries, engages in the production and distribution of cement, ready-mixed concrete, and aggregates in Indonesia and internationally. It operates through three segments: Cement, Ready-mix Concrete and Aggregates Quarry, and Other Construction Services.

Full company description

PT Solusi Bangun Indonesia Tbk, together with its subsidiaries, engages in the production and distribution of cement, ready-mixed concrete, and aggregates in Indonesia and internationally. It operates through three segments: Cement, Ready-mix Concrete and Aggregates Quarry, and Other Construction Services. The company provides other construction and consulting services. In addition, it is involved in mining activities; waste management services used as alternative fuel and raw materials; and aggregate quarry and construction activities. The company was formerly known as PT Holcim Indonesia Tbk and changed its name to PT Solusi Bangun Indonesia Tbk in March 2019. The company was founded in 1971 and is headquartered in Jakarta, Indonesia. PT Solusi Bangun Indonesia Tbk operates as a subsidiary of PT Semen Indonesia (Persero) Tbk.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Solusi Bangun Indonesia Tbk, reported revenue of 10.7T IDR in FY2025 versus 11.2T IDR in FY2021, a compound −1.1%/yr. Reported net income was 659B IDR in FY2025, compounding −2.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
10.7T IDR
Latest YoY
−9.2%
Avg. growth/yr (3Y)
−4.3%
Avg. growth/yr (5Y)
+1.2%
Avg. growth/yr (25Y)
+8.2%
Revenue −1.1%/yr
FY21 11.2T IDR
FY22 12.3T IDR
FY23 12.4T IDR
FY24 11.8T IDR
FY25 10.7T IDR
Net income −2.0%/yr
FY21 713B IDR
FY22 839B IDR
FY23 895B IDR
FY24 745B IDR
FY25 659B IDR

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Cite: Fair Value Calculator (2026). "PT Solusi Bangun Indonesia Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/SMCB

Peer Group

Building Materials · 254 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 58 · Above median
Fair Value upside +60% · Top 25%
Return on equity (TTM) 5% · Above median
Return on assets 4% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 4% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 0.53× · Cheaper than median
P/S (TTM) 0.65× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 4.1× · Cheaper than median
PEG 0.48× · 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 100 · sector 28
FUTURE 18 · sector 2
PAST 22 · sector 15
HEALTH 97 · sector 92
DIVIDEND 0 · sector 42

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is PT Solusi Bangun Indonesia Tbk, (SMCB) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 1,242 IDR versus a price of 775.00 IDR, about +60% (undervalued).
What is the fair value of SMCB?
Our model-based fair value for PT Solusi Bangun Indonesia Tbk, is 1,242 IDR (as of Jul 12, 2026), built from audited fundamentals. The current price is 775.00 IDR.
What is the quality score of SMCB?
PT Solusi Bangun Indonesia Tbk, has a Quality Score of 58/100. 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 Solusi Bangun Indonesia Tbk, (SMCB)?
PT Solusi Bangun Indonesia Tbk, reported trailing-twelve-month revenue of about 10.8T IDR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of SMCB?
The net profit margin of PT Solusi Bangun Indonesia Tbk, is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. 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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