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PT Mitra Tirta Buwana Tbk (SOUL) Fair Value & Analysis

Industrials · ID · Market cap 40.1B IDR (≈ $4.0M)

What is PT Mitra Tirta Buwana Tbk really worth?

PM PT Mitra Tirta Buwana Tbk SOUL · JK
Price from Aug 24, 202637.00 IDR
Fair Value14.34 IDR
Upside−61.2%
Quality36/100

Below-average quality, and trading another 158% above our fair value of 14.34 IDR.

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Risks

!Weak Growth (revenue 3y −3.1 %/yr)
!Loss-making · -111.2% net margin
!negative free cash flow
!Trails peers (0/6)
!Narrow moat 6/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range 9.46 IDR – 17.92 IDR

Fair value as of: Aug 23, 2026

From 1 valuation models · updated 9 days ago

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (17.92 IDR). The favourable scenario is already priced in.
  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (9.46 IDR to 17.92 IDR) leaves room in how you read the outcome.

Price vs Fair Value (4 years)

106.00 IDR 9.00 IDR Fair Value 14.34 IDR Jan 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

44‑month range 9.00 IDR – 106.00 IDR · fair‑value band 9.46 IDR – 17.92 IDR · the 37.00 IDR price screens above the 14.34 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

Full chart & analysis →

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Analysis

PT Mitra Tirta Buwana Tbk (SOUL) currently trades at 37.00 IDR, while our model-based Fair Value estimate is 14.34 IDR, implying the stock looks roughly 158.0% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Industrials sector. How firm this estimate is: it rests on 1 models at a data quality of 87/100, which puts the evidence level at low.

Trailing-twelve-month revenue stands at 3.6B IDR. Revenue declined 33.0% year over year. It earns a return on equity of −10.9%. Net debt stands at 970M IDR. Fundamentals as of Aug 23, 2026

Our scenario range runs from 9.46 IDR (bear case) to 17.92 IDR (bull case); at 37.00 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 68% below its 52-week high and 28% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −26% fair-value upside, at −61%, SOUL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
NCAV (Graham) best evidence 16.30 IDR 21.84 IDR 32.60 IDR 51
All 1 models by family
Asset-Based
NCAV (Graham) best evidence 16.30 IDR 21.84 IDR 32.60 IDR 51

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Key figures & financial health

P/S ratio 9.84 TTM
Net margin −111% FY2024
Return on equity −10.9% TTM
Return on assets (EBIT) 1.5% avg 4y
Operating margin −228% TTM
Revenue (TTM) 3.6B IDR TTM
More key figures
Growth
Revenue growth (YoY) −33.0% 3y avg −3.1%
EPS growth (YoY) +400%
Balance sheet & cash flow
Free cash flow −9.7B IDR FY2024
Net debt 970M IDR FY2024

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 36/100

Of which business quality 40 · Market factors (momentum, volatility) 20

Profitability 1
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 88
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT Mitra Tirta Buwana Tbk engages in the manufacture and sale of packaged drinking water in Indonesia. The company offers extra oxygen pure drinking water with a total dissolved solids of 0.02 ppm in a range of bottle packaging under the Hexsoul brand.

Full company description

PT Mitra Tirta Buwana Tbk engages in the manufacture and sale of packaged drinking water in Indonesia. The company offers extra oxygen pure drinking water with a total dissolved solids of 0.02 ppm in a range of bottle packaging under the Hexsoul brand. It is also involved in the wholesale of non-alcoholic beverages, such as fruit juices, juices, soft drinks, mineral and bottled water, and other similar products. The company was founded in 2009 and is based in Sleman, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2024 · reported fiscal years

PT Mitra Tirta Buwana Tbk reported revenue of 3.6B IDR in FY2024 versus 4.0B IDR in FY2021, a compound −3.1%/yr. Reported net income was −4.0B IDR in FY2024.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2024)
3.6B IDR
Latest YoY
−24.6%
Avg. revenue 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.
−3.1%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed
Revenue −3.1%/yr
FY21 4.0B IDR
FY22 4.6B IDR
FY23 4.8B IDR
FY24 3.6B IDR
Net income
FY21 515M IDR
FY22 78.7M IDR
FY23 −3.3B IDR
FY24 −4.0B IDR

SOUL screens 158% overvalued. Compare with Cintas Corporation →

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Cite: Fair Value Calculator (2026). "PT Mitra Tirta Buwana Tbk Fair Value". https://www.fairvalue-calculator.com/stock/SOUL

Peer Group

Specialty Business Services · 257 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 40 · Bottom 25%
Fair Value upside −61% · Bottom 25%
Return on assets −7% · Bottom 25%
Net margin (TTM) −111% · Bottom 25%
Revenue growth −33% · Bottom 25%

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

Similar stocks

10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $204.15 $95.19 −53%
RELX PLC RELX $34.55 $32.24 −7%
Thomson Reuters Corporation TRI C$142.85 C$70.40 −51%
Copart, Inc CPRT $32.76 $28.59 −13%
Global Payments Inc GPN $92.96 $68.98 −26%
RB Global, Inc RBA C$119.68 C$68.30 −43%
Brambles Limited BXB A$19.47 A$17.27 −11%
UL Solutions Inc ULS $74.43 $33.62 −55%
Wolters Kluwer N.V WKL €68.88 €101.27 +47%
Aramark ARMK $59.08 $13.18 −78%

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Frequently asked questions

Is PT Mitra Tirta Buwana Tbk (SOUL) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of 14.34 IDR versus the last price from Aug 24, 2026 of 37.00 IDR, about −61% upside (overvalued).
What is the fair value of SOUL?
Our model-based fair value for PT Mitra Tirta Buwana Tbk is 14.34 IDR (as of Aug 23, 2026), built from audited fundamentals. Last price (from Aug 24, 2026): 37.00 IDR.
What is the quality score of SOUL?
PT Mitra Tirta Buwana Tbk has a Quality Score of 36/100. 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 Mitra Tirta Buwana Tbk (SOUL)?
PT Mitra Tirta Buwana Tbk reported trailing-twelve-month revenue of about 3.6B IDR (latest available figure, as of Aug 23, 2026).
What is the net profit margin of SOUL?
The net profit margin of PT Mitra Tirta Buwana Tbk is about −111.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
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