Indo Acidatama Tbk (SRSN) fair value: what the stock is really worth
As of Oct 13, 2026: fair value of Indo Acidatama Tbk IDR 124, price IDR 129, upside -3.9%, quality 76 out of 100. 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 3, 2026.
How to read this chart
60‑month range 46.28 IDR – 143.00 IDR · fair‑value band 92.98 IDR – 154.96 IDR · the 129.00 IDR price screens above the 123.97 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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PT Indo Acidatama Tbk operates as an agro-chemical company in Indonesia. The company offers ethanol and acetic acid products; and agro products, such as liquid biofertilizer, organic fertilizer, decomposer, liquid organic fertilizer, liquid organic soil conditioner, and bio-organic fertilizer, as well as farm, fishery, and other products.
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PT Indo Acidatama Tbk operates as an agro-chemical company in Indonesia. The company offers ethanol and acetic acid products; and agro products, such as liquid biofertilizer, organic fertilizer, decomposer, liquid organic fertilizer, liquid organic soil conditioner, and bio-organic fertilizer, as well as farm, fishery, and other products. It also exports its products. The company was formerly known as PT Sarasa Nugraha Tbk and changed its name to PT Indo Acidatama Tbk in May 2006. PT Indo Acidatama Tbk was founded in 1982 and is headquartered in Jakarta, Indonesia.
Stock analysis
Indo Acidatama Tbk (SRSN) currently trades at 129.00 IDR, while our model-based Fair Value estimate is 123.97 IDR, so the stock looks roughly fairly valued today (gap 4.1%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of 400.20 IDR per share, and 20 of the 26 models we run sit above the 129.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 15.12 IDR, and 6 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 92.98 IDR (bear) to 154.96 IDR (bull), the price of 129.00 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 76/100 (high quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Indo Acidatama Tbk reported revenue of 1.3T IDR in FY2025 versus 908B IDR in FY2021, a compound +8.5%/yr. Reported net income was 77.4B IDR in FY2025, compounding +30.7%/yr from FY2021.
Key figures
Market cap 777B IDR (≈ $43.4M) · P/E ratio 6.2 · P/S ratio 0.38 · EPS (TTM) 20.70 IDR · Dividend yield 0.8% · Net margin 6.2% · Return on equity 15.3% · Return on assets (EBIT) 7.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 148% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −27% fair-value upside, at −4%, SRSN screens cheaper than that median.
Fair Value models
Bear 92.98 IDRFair Value 123.97 IDRBull 154.96 IDR
Price 129.00 IDR · Upside -3.9%
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 (16.22 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.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.
Highest evidence
FCF DCF449.99 IDR727.93 IDR1,158 IDR79
Growth DCF451.89 IDR717.98 IDR1,122 IDR77
5Y EBITDA Exit257.62 IDR374.68 IDR509.09 IDR76
All 26 models by family
DCF Models
FCF DCF449.99 IDR727.93 IDR1,158 IDR79
Owner Earnings150.49 IDR243.01 IDR386.20 IDR75
5Y Revenue Exit268.74 IDR396.34 IDR556.41 IDR73
5Y EBITDA Exit257.62 IDR374.68 IDR509.09 IDR76
5Y P/E Exit254.11 IDR367.86 IDR487.15 IDR71
10Y Revenue Exit325.19 IDR460.13 IDR640.37 IDR67
10Y EBITDA Exit323.53 IDR445.10 IDR603.72 IDR69
10Y P/E Exit321.31 IDR440.36 IDR586.72 IDR64
Earnings-Based
Graham-Dodd87.37 IDR326.40 IDR441.32 IDR64
Lynch FV78.61 IDR112.30 IDR145.99 IDR61
PEG = 1.078.61 IDR112.30 IDR145.99 IDR57
EPV141.93 IDR164.18 IDR183.37 IDR74
Dividend Discount
Gordon GGM8.78 IDR17.49 IDR26.49 IDR67
DDM Multi-Stage8.78 IDR15.12 IDR18.46 IDR67
Multiples
P/E Multiple163.83 IDR218.44 IDR273.05 IDR63
P/S Multiple163.83 IDR218.44 IDR273.05 IDR58
P/B Multiple163.83 IDR218.44 IDR273.05 IDR55
EV/EBIT204.40 IDR272.18 IDR339.96 IDR66
EV/EBITDA170.87 IDR227.47 IDR284.08 IDR67
EV/Revenue177.28 IDR252.81 IDR328.34 IDR53
Asset-Based
NCAV (Graham)67.26 IDR90.13 IDR134.52 IDR54
Growth DCF
Growth DCF451.89 IDR717.98 IDR1,122 IDR77
Rev-Margin DCF268.74 IDR400.20 IDR560.84 IDR73
Economic Profit
Residual Income115.42 IDR125.71 IDR156.17 IDR76
ROIC Compounder144.62 IDR185.39 IDR240.20 IDR72
Growth Earnings
Growth-Adj P/E128.45 IDR183.50 IDR238.56 IDR67
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
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.84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.9%
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.
+8.7%
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.
+7.1%
Start year 2020 (pandemic). Over 10 years: +9.0% 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.
+5.4%
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’25
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.
+12.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.9%
Dividend (yield on the price)0.8%
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.12.6% vs 18.3%, 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.9% → 9%
2025 sits 130% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
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).
−18.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −20.7% a year for the price.
Price, fair value, quality and upside side by side.
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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 · 336 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside−3.9% · Above median
Profitability
Return on equity (TTM)15.3% · Top 25%
Return on assets9.6% · Top 25%
Net margin (TTM)10.4% · Above median
Operating margin (TTM)16.7% · Top 25%
Growth and dividend
Revenue growth4.9% · Below median
Dividend yield (TTM)0.8% · Below median
Valuation Multiplesvs Chemicals median · lower = cheaper
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Is Indo Acidatama Tbk (SRSN) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 123.97 IDR versus a price of 129.00 IDR, about −4% upside (fairly valued).
What is the fair value of SRSN?
Our model-based fair value for Indo Acidatama Tbk is 123.97 IDR (as of Oct 3, 2026), built from audited fundamentals. The current price: 129.00 IDR.
What is the quality score of SRSN?
Indo Acidatama 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 price target for Indo Acidatama Tbk (SRSN)?
Our model-based price target is the fair value of 123.97 IDR (as of Oct 3, 2026) from 26 valuation models. Cautious scenario 92.98 IDR, optimistic scenario 154.96 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Indo Acidatama Tbk stock forecast for 2026?
Our models put fair value at 123.97 IDR, about −4% upside versus a price of 129.00 IDR (fairly valued). Cautious scenario 92.98 IDR, optimistic scenario 154.96 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Indo Acidatama Tbk (SRSN)?
Indo Acidatama Tbk reported trailing-twelve-month revenue of about 1.2T IDR (latest available figure, as of Oct 3, 2026).
Does Indo Acidatama Tbk pay a dividend?
Indo Acidatama Tbk currently shows a dividend yield of about 0.76% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Indo Acidatama Tbk (SRSN)?
For today's price to be fair in a discounted-cash-flow model, Indo Acidatama Tbk would have to grow free cash flow by -18.7 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.1 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of SRSN use?
Our models discount Indo Acidatama Tbk at 10.5 %: a base by market capitalisation (nano), damped by beta 0.09, 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 Indo Acidatama Tbk that is -18.7 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Indo Acidatama Tbk (SRSN) delivered so far?
Over the past 5 years revenue at Indo Acidatama Tbk grew +7.1 % a year. The price currently implies -18.7 % 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 Indo Acidatama Tbk (SRSN) growing?
The median revenue growth in the sector is +9.3 % a year. That is the yardstick for the growth priced into Indo Acidatama Tbk (-18.7 % 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 Indo Acidatama Tbk (SRSN)?
The free-cash-flow yield on the price is 28.44 %: that much free cash flow Indo Acidatama Tbk produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Indo Acidatama Tbk (SRSN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Indo Acidatama Tbk it is 123.97 IDR per share (as of Oct 3, 2026), against a price of 129.00 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Indo Acidatama Tbk stock overvalued or undervalued in 2026?
As of Oct 3, 2026, SRSN trades above its calculated fair value: price 129.00 IDR, fair value 123.97 IDR, a gap of about −4% (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 SRSN?
No. The price is what the market pays today (129.00 IDR); the fair value is what the company's own numbers justify (123.97 IDR). For Indo Acidatama Tbk the two are 5.03 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Indo Acidatama Tbk worth?
The market values Indo Acidatama Tbk at about 777B IDR (market capitalisation, as of Oct 3, 2026). Per share that is 129.00 IDR; our models calculate a fair value of 123.97 IDR per share.
What do the bullish and bearish scenarios say about SRSN?
Our models span a range for Indo Acidatama Tbk: cautious scenario 92.98 IDR, base 123.97 IDR, optimistic 154.96 IDR per share (as of Oct 3, 2026, price 129.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SRSN?
Indo Acidatama Tbk trades at a price-to-earnings ratio of 6.2 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 123.97 IDR is built from several models across several years. Other multiples: PEG 0.1, P/B 1.0, P/S 0.6, EV/EBITDA 4.3.
What is the PEG ratio of SRSN?
The PEG ratio of Indo Acidatama Tbk is 0.11 (P/E divided by earnings growth, as of Oct 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Indo Acidatama Tbk (SRSN)?
Balance-sheet figures for Indo Acidatama Tbk (as of Oct 3, 2026): return on equity 15.3%. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is SRSN from its 52-week high?
Indo Acidatama Tbk trades at 129.00 IDR, about 10% below its 52-week high of 143.00 IDR and 148% above the low of 52.10 IDR (as of Oct 13, 2026). Distance from the high says nothing about value: that is what the fair value of 123.97 IDR is for.
Which stocks are comparable to Indo Acidatama Tbk?
From the same area (Basic Materials) we also value Ningxia Baofeng Energy Group, Dow Inc, Hengli Petrochemical Co, Zangge Mining Company, 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 Indo Acidatama Tbk stock attractive at the current price?
The data as of Oct 3, 2026: price 129.00 IDR, calculated fair value 123.97 IDR (−4%), Quality Score 76/100, 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 SRSN calculated?
We run Indo Acidatama Tbk 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 123.97 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 14.8 % above its aggregate fair value. Indo Acidatama Tbk itself currently trades above fair value. 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 Indo Acidatama Tbk (SRSN)?
The closing price on Oct 13, 2026 was 129.00 IDR. Our model-based fair value is 123.97 IDR, about −4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Indo Acidatama Tbk right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Indo Acidatama Tbk (SRSN) come from?
Earnings per share at Indo Acidatama Tbk grew +16.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.6 %, EBIT margin +1.6 %, tax rate −0.2 %, residual (interest, one-offs) +4.5 %. 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 Indo Acidatama Tbk
How large is the market capitalisation of Indo Acidatama Tbk (SRSN)?
The market capitalisation of Indo Acidatama Tbk is 777B IDR (≈ $43.4M). 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 Indo Acidatama Tbk (SRSN)?
The price-to-sales ratio of Indo Acidatama Tbk is 0.38 (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 Indo Acidatama Tbk (SRSN)?
Earnings per share at Indo Acidatama Tbk are 20.70 IDR (price ÷ EPS = P/E 6.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Indo Acidatama Tbk (SRSN)?
The dividend yield of Indo Acidatama Tbk is 0.8% (payout 4.7%). 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 Indo Acidatama Tbk (SRSN)?
The net margin of Indo Acidatama Tbk is 6.2% (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 Indo Acidatama Tbk (SRSN)?
The return on equity (ROE) of Indo Acidatama Tbk is 15.3% (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 Indo Acidatama Tbk (SRSN)?
On an EBIT basis the return on assets of Indo Acidatama Tbk is 7.6% (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 Indo Acidatama Tbk (SRSN)?
The operating margin of Indo Acidatama Tbk is 16.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Indo Acidatama Tbk (SRSN)?
Revenue at Indo Acidatama Tbk is growing +4.9% versus a year earlier (3y avg +8.7%). 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 Indo Acidatama Tbk (SRSN)?
Earnings per share at Indo Acidatama Tbk are growing +187% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Indo Acidatama Tbk (SRSN) carry?
The net debt of Indo Acidatama Tbk is 104B IDR (fiscal year 2025, ≈ 0.5 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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