Sinar Mas Multiartha Tbk (SMMA) fair value: what the stock is really worth
As of Oct 16, 2026: fair value (intrinsic value) of Sinar Mas Multiartha Tbk stock IDR 40,300, price IDR 20,125, upside +100.2%, quality 52 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 14, 2026.
How to read this chart
60‑month range 9,900 IDR – 24,000 IDR · fair‑value band 38,455 IDR – 48,540 IDR · the 20,125 IDR price screens below the 40,300 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 14, 2026.
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PT Sinar Mas Multiartha Tbk provides various financial products and services to individual and corporate clients in Indonesia.
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The company engages in the banking, life insurance, loss insurance, multi finance, securities, technology based lending and borrowing service, venture capital, share register, money changer, workshop, property, information service, and trading and service businesses.
Further, It is involved in the reinsurance, asset management, forestry, on-line insurance, commodity trading, data processing, and credit guarantor services, as well as operation of auction and pawnshop businesses, and real estate business.
The company was formerly known as PT Internas Artha Finance Company and changed its name to PT Sinar Mas Multiartha Tbk in February 1995. The company was founded in 1982 and is headquartered in Jakarta, Indonesia.
Stock analysis
Sinar Mas Multiartha Tbk (SMMA) currently trades at 20,125 IDR, while our model-based Fair Value estimate is 40,300 IDR, implying the stock looks roughly 50.1% undervalued today.
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Valuation
How firm this estimate is: it rests on 15 models at a data quality of 93/100, which puts the data coverage at medium.
Scenario range: 38,455 IDR (bear) to 48,540 IDR (bull), the price of 20,125 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 52/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Sinar Mas Multiartha Tbk reported revenue of 36.6T IDR in FY2025 versus 36.0T IDR in FY2021, a compound +0.4%/yr. Reported net income was 2.0T IDR in FY2025, compounding +21.2%/yr from FY2021.
Key figures
Market cap 128T IDR (≈ $7.1B) Mid · P/E ratio 41.8 · P/S ratio 3.91 · EPS (TTM) 478.60 IDR · Net margin 9.3% · Return on equity 11.1% · Return on assets (EBIT) 1.4% · Operating margin 19.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 65% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −26% fair-value upside, at 100%, SMMA screens cheaper than that median.
Fair Value models
Bear38,455 IDRFair Value 40,300 IDRBull48,540 IDR
Price 20,125 IDR · Upside +100.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (382.88 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.Coverage ⓘCoverage = 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.21/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+40.2%
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.
+5.8%
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.
+1.7%
Start year 2020 (pandemic). Over 10 years: +11.5% a year
Revenue growth 25 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.
+21.2%
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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.
+16.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.0%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7.1% vs 5.7%, slowing
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.0% → 10%
2025 sits 142% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Sinar Mas Multiartha Tbk 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.Insurance - Diversified · 81 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+100.2% · Top 25%
Profitability
Return on equity (12 months)11.1% · Below median
Return on assets1.7% · Below median
Net margin (12 months)9.3% · Above median
Operating margin (12 months)19.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−10.8% · Bottom 25%
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Insurance - Diversified median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Sinar Mas Multiartha Tbk Fair Value". https://www.fairvalue-calculator.com/stock/SMMA
Frequently asked questions
Is Sinar Mas Multiartha Tbk (SMMA) overvalued or undervalued?
As of Oct 14, 2026, our model estimates a fair value of 40,300 IDR versus a price of 20,125 IDR, about +100% upside (undervalued).
What is the fair value of SMMA?
Our model-based fair value for Sinar Mas Multiartha Tbk is 40,300 IDR (as of Oct 14, 2026), built from audited fundamentals. The current price: 20,125 IDR.
What is the quality score of SMMA?
Sinar Mas Multiartha Tbk has a Quality Score of 52/100. 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 Sinar Mas Multiartha Tbk (SMMA)?
Our model-based price target is the fair value of 40,300 IDR (as of Oct 14, 2026) from 4 valuation models. Cautious scenario 38,455 IDR, optimistic scenario 48,540 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Sinar Mas Multiartha Tbk stock forecast for 2026?
Our models put fair value at 40,300 IDR, about +100% upside versus a price of 20,125 IDR (undervalued). Cautious scenario 38,455 IDR, optimistic scenario 48,540 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Sinar Mas Multiartha Tbk (SMMA)?
Sinar Mas Multiartha Tbk reported trailing-twelve-month revenue of about 32.8T IDR (latest available figure, as of Oct 14, 2026).
What is the intrinsic value of Sinar Mas Multiartha Tbk (SMMA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sinar Mas Multiartha Tbk it is 40,300 IDR per share (as of Oct 14, 2026), against a price of 20,125 IDR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Sinar Mas Multiartha Tbk stock overvalued or undervalued in 2026?
As of Oct 14, 2026, SMMA trades below its calculated fair value: price 20,125 IDR, fair value 40,300 IDR, a gap of about +100% (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 SMMA?
No. The price is what the market pays today (20,125 IDR); the fair value is what the company's own numbers justify (40,300 IDR). For Sinar Mas Multiartha Tbk the two are 20,175 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Sinar Mas Multiartha Tbk worth?
The market values Sinar Mas Multiartha Tbk at about 128T IDR (market capitalisation, as of Oct 14, 2026). Per share that is 20,125 IDR; our models calculate a fair value of 40,300 IDR per share.
What do the bullish and bearish scenarios say about SMMA?
Our models span a range for Sinar Mas Multiartha Tbk: cautious scenario 38,455 IDR, base 40,300 IDR, optimistic 48,540 IDR per share (as of Oct 14, 2026, price 20,125 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SMMA?
Sinar Mas Multiartha Tbk trades at a price-to-earnings ratio of 41.8 (as of Oct 14, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 40,300 IDR is built from several models across several years. Other multiples: P/B 5.5, P/S 3.9, EV/EBITDA 18.8.
How solid is the balance sheet of Sinar Mas Multiartha Tbk (SMMA)?
Balance-sheet figures for Sinar Mas Multiartha Tbk (as of Oct 14, 2026): return on equity 11.1%, debt of 0.39 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is SMMA from its 52-week high?
Sinar Mas Multiartha Tbk trades at 20,125 IDR, about 16% below its 52-week high of 24,000 IDR and 65% above the low of 12,200 IDR (as of Oct 16, 2026). Distance from the high says nothing about value: that is what the fair value of 40,300 IDR is for.
Which stocks are comparable to Sinar Mas Multiartha Tbk?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali S.p.A, 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 Sinar Mas Multiartha Tbk stock attractive at the current price?
The data as of Oct 14, 2026: price 20,125 IDR, calculated fair value 40,300 IDR (+100%), Quality Score 52/100, from 4 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 SMMA calculated?
We run Sinar Mas Multiartha Tbk through 4 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 40,300 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 13.8 % above its aggregate fair value. Sinar Mas Multiartha Tbk currently trades 50 % 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 Sinar Mas Multiartha Tbk (SMMA)?
The closing price on Oct 16, 2026 was 20,125 IDR. Our model-based fair value is 40,300 IDR, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sinar Mas Multiartha Tbk right now?
The price is below even our cautious bear case (38,455 IDR). The market is more pessimistic than our downside scenario. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Sinar Mas Multiartha Tbk (SMMA) come from?
Earnings per share at Sinar Mas Multiartha Tbk grew +1.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.3 %, EBIT margin −1.1 %, tax rate −0.2 %, residual (interest, one-offs) −0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Sinar Mas Multiartha Tbk
How large is the market capitalisation of Sinar Mas Multiartha Tbk (SMMA)?
The market capitalisation of Sinar Mas Multiartha Tbk is 128T IDR (≈ $7.1B). 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 Sinar Mas Multiartha Tbk (SMMA)?
The price-to-sales ratio of Sinar Mas Multiartha Tbk is 3.91 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sinar Mas Multiartha Tbk (SMMA)?
Earnings per share at Sinar Mas Multiartha Tbk are 478.60 IDR (price ÷ EPS = P/E 41.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sinar Mas Multiartha Tbk (SMMA)?
The net margin of Sinar Mas Multiartha Tbk is 9.3% (last twelve months). 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 Sinar Mas Multiartha Tbk (SMMA)?
The return on equity (ROE) of Sinar Mas Multiartha Tbk is 11.1% (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 Sinar Mas Multiartha Tbk (SMMA)?
On an EBIT basis the return on assets of Sinar Mas Multiartha Tbk is 1.4% (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 Sinar Mas Multiartha Tbk (SMMA)?
The operating margin of Sinar Mas Multiartha Tbk is 19.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sinar Mas Multiartha Tbk (SMMA)?
Revenue at Sinar Mas Multiartha Tbk is growing −10.8% versus a year earlier (3y avg +5.8%). 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 Sinar Mas Multiartha Tbk (SMMA)?
Earnings per share at Sinar Mas Multiartha Tbk are growing +98.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sinar Mas Multiartha Tbk (SMMA) generate?
The free cash flow of Sinar Mas Multiartha Tbk is −2.0T IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Sinar Mas Multiartha Tbk (SMMA) carry?
The net debt of Sinar Mas Multiartha Tbk is 10.7B IDR (fiscal year 2025). 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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Oct 14, 2026