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PT Sona Topas Tourism Industry Tbk, (SONA) Fair Value & Analysis

Consumer Cyclical · ID · Market cap 1.5T IDR

PS PT Sona Topas Tourism Industry Tbk, SONA · JK
Price2,600 IDR
Fair Value2,958 IDR
Upside+13.8%
Quality76/100
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Mixed Growth
Thin margins · 9.3% net margin
Low debt · generates free cash flow
2.36% dividend yield
Ranks above peers (10/14)
Narrow moat 44/100
Evidence: High Range 2,219 IDR – 3,698 IDR Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 30 days ago

Share price +16.1% over the past month.

A strong business, screening 14% undervalued on our models.

What matters now

  • Our model range runs from 2,219 IDR (bear) to 3,698 IDR (bull), base 2,958 IDR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 76/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

9,868 IDR 625.30 IDR Fair Value 2,958 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range 625.30 IDR – 9,868 IDR · fair‑value band 2,219 IDR – 3,698 IDR · the 2,600 IDR price screens below the 2,958 IDR fair value. Dashed = 300-day average. As of Jul 11, 2026.

Full chart & analysis →

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Analysis

PT Sona Topas Tourism Industry Tbk, (SONA) currently trades at 2,600 IDR, while our model-based Fair Value estimate is 2,958 IDR, implying the stock looks roughly 13.8% undervalued today. The Quality Score stands at 76/100 (high quality), in the Consumer Cyclical 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 Sona Topas Tourism Industry Tbk, generated revenue of 921B IDR at a net margin of 9.3%. Revenue grew 12.2% year over year. It earns a return on equity of 12.5%. The balance sheet holds a net cash position of 540B IDR. Fundamentals as of Jul 11, 2026

Our scenario range runs from 2,219 IDR (bear case) to 3,698 IDR (bull case); at 2,600 IDR, the current price sits within 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 53% below its 52-week high and 50% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -16% fair-value upside, at 14%, SONA 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 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 3,946 IDR 7,360 IDR 13,055 IDR 80
Residual Income 1,040 IDR 1,308 IDR 3,699 IDR 76
Rev-Margin DCF 2,615 IDR 3,827 IDR 5,517 IDR 74
All 26 models by family
DCF Models
FCF DCF 4,022 IDR 6,868 IDR 14,304 IDR 38
Owner Earnings 4,044 IDR 7,515 IDR 14,491 IDR 31
5Y Revenue Exit 2,615 IDR 3,851 IDR 5,549 IDR 39
5Y EBITDA Exit 3,378 IDR 5,544 IDR 8,390 IDR 41
5Y P/E Exit 3,294 IDR 5,357 IDR 7,846 IDR 38
10Y Revenue Exit 2,983 IDR 4,390 IDR 6,643 IDR 36
10Y EBITDA Exit 3,561 IDR 5,715 IDR 9,260 IDR 37
10Y P/E Exit 3,502 IDR 5,569 IDR 8,759 IDR 35
Earnings-Based
Graham-Dodd 914.35 IDR 5,348 IDR 7,445 IDR 54
Lynch FV 1,514 IDR 2,164 IDR 2,813 IDR 50
PEG = 1.0 1,514 IDR 2,164 IDR 2,813 IDR 46
EPV 2,030 IDR 2,233 IDR 2,414 IDR 59
Dividend Discount
Gordon GGM 0.0400 IDR 0.0800 IDR 0.1400 IDR 70
DDM Multi-Stage 0.0400 IDR 0.0700 IDR 0.0900 IDR 61
Multiples
P/E Multiple 2,219 IDR 2,958 IDR 3,698 IDR 63
P/S Multiple 1,223 IDR 1,630 IDR 2,038 IDR 58
P/B Multiple 1,714 IDR 2,286 IDR 2,857 IDR 55
EV/EBIT 3,009 IDR 3,719 IDR 4,428 IDR 53
EV/EBITDA 3,223 IDR 4,003 IDR 4,784 IDR 54
EV/Revenue 2,021 IDR 2,510 IDR 3,000 IDR 43
Asset-Based
NCAV (Graham) 550.91 IDR 738.22 IDR 1,102 IDR 50
Growth DCF
Growth DCF 3,946 IDR 7,360 IDR 13,055 IDR 80
Rev-Margin DCF 2,615 IDR 3,827 IDR 5,517 IDR 74
Economic Profit
Residual Income 1,040 IDR 1,308 IDR 3,699 IDR 76
ROIC Compounder 2,185 IDR 2,621 IDR 3,176 IDR 72
Growth Earnings
Growth-Adj P/E 2,276 IDR 3,252 IDR 4,227 IDR 68

Widest divergence: DCF Models (5,544 IDR) versus Dividend Discount (0.0700 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 921B IDR
Revenue growth (YoY) +12.2%
Net margin 9.3%
Return on equity 12.5%
Free cash flow 138B IDR FY2025
P/E ratio 16.0
More key figures
Operating margin 1.0%
EPS (TTM) 129.47 IDR
Dividend yield 2.4%
EPS growth (YoY) -49.2%
Net cash 540B IDR FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 77 · Market factors (momentum, volatility) 32

Profitability 61
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 29
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 12
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 Sona Topas Tourism Industry Tbk, together with its subsidiaries, offers tour and travel-related services in Indonesia. It operates through Travel and Retail Travel Shops segments. The company operates retail shops in Bali, Jakarta, Surabaya, Lombok, Medan, and Batam. It also sells tours and travel tickets; and handles related documents and tours.

Full company description

PT Sona Topas Tourism Industry Tbk, together with its subsidiaries, offers tour and travel-related services in Indonesia. It operates through Travel and Retail Travel Shops segments. The company operates retail shops in Bali, Jakarta, Surabaya, Lombok, Medan, and Batam. It also sells tours and travel tickets; and handles related documents and tours. The company was formerly known as PT Sona Topas and changed its name to PT Sona Topas Tourism Industry Tbk in October 1990. PT Sona Topas Tourism Industry Tbk was incorporated in 1978 and is based in Jakarta Selatan, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Sona Topas Tourism Industry Tbk, reported revenue of 900B IDR in FY2025 versus 67.9B IDR in FY2021, a compound +90.8%/yr. Reported net income was 89.1B IDR in FY2025.

Growth Quality 87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
900B IDR
Latest YoY
+5.7%
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.
+41.3%
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.
+29.7%
Avg. growth/yr (25Y) 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.
+5.2%
Revenue +90.8%/yr
FY21 67.9B IDR
FY22 319B IDR
FY23 708B IDR
FY24 851B IDR
FY25 900B IDR
Net income
FY21 −57.3B IDR
FY22 −48.3B IDR
FY23 −9.8B IDR
FY24 38.6B IDR
FY25 89.1B IDR
Character of growth · EPS growth decomposed (2014-2025) −7.9 % p.a.
Revenue per share −10.5 pp

of which total revenue −4.1 pp · buybacks/dilution −6.4 pp

EBIT margin −1.6 pp
Tax rate +0.7 pp
Residual (interest, one-offs) +3.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "PT Sona Topas Tourism Industry Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/SONA

Peer Group

Travel Services · 90 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 76 · Top 25%
Fair Value upside +14% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 12% · Above median
Dividend yield (TTM) 2.4% · Above median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Travel Services median · lower = cheaper

P/E (TTM) 17.3× · Cheaper than median
P/B 2.03× · Pricier than median
P/S (TTM) 1.61× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 8.0× · Cheaper than median

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 52 · sector 19
FUTURE 61 · sector 25
PAST 50 · sector 36
HEALTH 94 · sector 97
DIVIDEND 47 · sector 36

Insider activity: 40/100

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 Travel Services stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Booking Holdings BKNG $182.80 $152.94 -16%
Airbnb, Inc ABNB $148.62 $57.47 -61%
Royal Caribbean Cruises Ltd RCL $286.96 $215.19 -25%
Viking Holdings VIK $100.69 $43.51 -57%
Carnival Corporation CCL $26.41 $31.36 +19%
Expedia Group EXPE $268.77 $248.63 -7%
Trip.com Group TCOM $42.45 $88.82 +109%
Norwegian Cruise Line Holdings NCLH $19.46 $20.28 +4%
Global Business Travel Group GBTG $9.40 $4.17 -56%
Travel + Leisure Co TNL $73.27 $27.29 -63%

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Frequently asked questions

Is PT Sona Topas Tourism Industry Tbk, (SONA) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 2,958 IDR versus a price of 2,600 IDR, about +14% (undervalued).
What is the fair value of SONA?
Our model-based fair value for PT Sona Topas Tourism Industry Tbk, is 2,958 IDR (as of Jul 11, 2026), built from audited fundamentals. The current price is 2,600 IDR.
What is the quality score of SONA?
PT Sona Topas Tourism Industry Tbk, has a Quality Score of 76/100. 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 Sona Topas Tourism Industry Tbk, (SONA)?
PT Sona Topas Tourism Industry Tbk, reported trailing-twelve-month revenue of about 921B IDR (latest available figure, as of Jul 11, 2026).
What is the net profit margin of SONA?
The net profit margin of PT Sona Topas Tourism Industry Tbk, is about 9.3%, meaning it keeps roughly 9.3% of revenue as net income. Based on the latest reported figures.
Does PT Sona Topas Tourism Industry Tbk, pay a dividend?
PT Sona Topas Tourism Industry Tbk, currently shows a dividend yield of about 2.36% relative to its recent price (as of Jul 11, 2026).

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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