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Sriwahana (SWAT) Fair Value & Analysis

Consumer Cyclical · ID · Market cap 48.3B IDR (≈ $4.8M) · ISIN ID1000143704

What is Sriwahana really worth?

S Sriwahana SWAT · JK
Price from Aug 24, 202616.00 IDR
Fair Value9.12 IDR
Upside−43.0%
Quality39/100

Below-average quality, and trading another 75% above our fair value of 9.12 IDR.

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Risks

!Weak Growth (revenue 5y +1.6 %/yr)
!Loss-making · -80.8% net margin
!High debt · negative free cash flow
!Trails peers (1/9)
!Narrow moat 8/100
!Evidence only low, so the estimate is less certain
!Weak on balance sheet: 6 out of 100
Evidence: Low Range 6.80 IDR – 13.61 IDR

Fair value as of: Aug 23, 2026

From 1 valuation models · updated 12 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 (13.61 IDR). The favourable scenario is already priced in.
  • Weak quality (39/100) 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 (6.80 IDR to 13.61 IDR) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

210.00 IDR 8.00 IDR Fair Value 9.12 IDR Feb 2021 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

60‑month range 8.00 IDR – 210.00 IDR · fair‑value band 6.80 IDR – 13.61 IDR · the 16.00 IDR price screens above the 9.12 IDR fair value. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Sriwahana (SWAT) currently trades at 16.00 IDR, while our model-based Fair Value estimate is 9.12 IDR, implying the stock looks roughly 75.4% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Consumer Cyclical sector. How firm this estimate is: it rests on 1 models at a data quality of 88/100, which puts the evidence level at low.

Over the trailing twelve months, Sriwahana generated revenue of 182B IDR at a net margin of −6.5%. Revenue declined 24.3% year over year. It earns a return on equity of −5.9%. Net debt stands at 372B IDR. Fundamentals as of Aug 23, 2026

Our scenario range runs from 6.80 IDR (bear case) to 13.61 IDR (bull case); at 16.00 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 30% below its 52-week high, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −39% fair-value upside, at −43%, SWAT 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 33.49 IDR 44.88 IDR 66.99 IDR 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence 33.49 IDR 44.88 IDR 66.99 IDR 54

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Key figures & financial health

P/E ratio 5.1
P/S ratio 0.27 TTM
EPS (TTM) 3.15 IDR price ÷ EPS = P/E 5.1
Net margin −2.9% FY2023
Return on equity −108% TTM
Return on assets (EBIT) 1.5% avg 5y
More key figures
Profitability
Operating margin −19.7% TTM
Growth
Revenue (TTM) 176B IDR TTM
Revenue growth (YoY) −24.3% 3y avg +7.7%
EPS growth (YoY) +339%
Balance sheet & cash flow
Free cash flow −5.0B IDR FY2023
Net debt 372B IDR FY2023

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

Quality Score breakdown

Overall quality 39/100

Of which business quality 35 · Market factors (momentum, volatility) 56

Profitability 10
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 14
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 33
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.

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 Sriwahana Adityakarta Tbk manufactures and sells corrugated carton packaging solutions in Indonesia. It operates through Corrugated, Paper Tube, Paper Cone, and Paper Roll segments. The company offers corrugated carton sheets and boxes, paper cones, and paper tubes made from recycled paper. It also engages in industry and general trade activities.

Full company description

PT Sriwahana Adityakarta Tbk manufactures and sells corrugated carton packaging solutions in Indonesia. It operates through Corrugated, Paper Tube, Paper Cone, and Paper Roll segments. The company offers corrugated carton sheets and boxes, paper cones, and paper tubes made from recycled paper. It also engages in industry and general trade activities. The company was founded in 1990 and is headquartered in Boyolali, Indonesia. PT Sriwahana Adityakarta Tbk operates as a subsidiary of Pt Sumber Makmur Lumintu.

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

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Sriwahana reported revenue of 244B IDR in FY2023 versus 266B IDR in FY2019, a compound −2.1%/yr. Reported net income was −7.1B IDR in FY2023.

Growth Quality 1/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2023)
244B IDR
Latest YoY
−22.7%
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.
+7.7%
Avg. revenue 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.
+1.6%
Avg. revenue growth/yr (8Y) 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.
+12.3%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2023 is a loss year, no rate is defined from a loss
not computed
Revenue −2.1%/yr
FY19 266B IDR
FY20 195B IDR
FY21 283B IDR
FY22 316B IDR
FY23 244B IDR
Net income
FY19 3.1B IDR
FY20 2.1B IDR
FY21 −70.3B IDR
FY22 −58.0B IDR
FY23 −7.1B IDR

SWAT screens 75% overvalued. Compare with Smurfit Westrock Plc, →

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Cite: Fair Value Calculator (2026). "Sriwahana Fair Value". https://www.fairvalue-calculator.com/stock/SWAT

Peer Group

Packaging & Containers · 273 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 35 · Bottom 25%
Fair Value upside −43% · Below median
Return on assets −14% · Bottom 25%
Net margin (TTM) −81% · Bottom 25%
Operating margin (TTM) −20% · Bottom 25%
Revenue growth −24% · Bottom 25%
Debt / equity 1.88× · Higher than 75% of peers

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/E (TTM) 5.1× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 15
FUTURE0 · sector 1
PAST0 · sector 21
HEALTH6 · sector 93
DIVIDEND0 · sector 45

VALUE 0: the price sits above our fair-value range.

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 Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Smurfit Westrock Plc, SW $49.25 $22.66 −54%
Packaging Corporation PKG $233.94 $122.63 −48%
International Paper Company IP $36.46 $21.44 −41%
Amcor plc AMCR $46.52 $18.79 −60%
Ball Corporation BALL $61.67 $36.57 −41%
Crown Holdings CCK $119.08 $118.59 +0%
Avery Dennison Corporation AVY $173.07 $113.05 −35%
CCL Industries Inc CCLA C$93.99 C$77.64 −17%
Stora Enso Oyj STEAV €9.74 €11.42 +17%
SIG Group SIGN CHF 13.66 CHF 8.32 −39%

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Frequently asked questions

Is Sriwahana (SWAT) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of 9.12 IDR versus the last price from Aug 24, 2026 of 16.00 IDR, about −43% upside (overvalued).
What is the fair value of SWAT?
Our model-based fair value for Sriwahana is 9.12 IDR (as of Aug 23, 2026), built from audited fundamentals. Last price (from Aug 24, 2026): 16.00 IDR.
What is the quality score of SWAT?
Sriwahana has a Quality Score of 39/100. 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 Sriwahana (SWAT)?
Sriwahana reported trailing-twelve-month revenue of about 182B IDR (latest available figure, as of Aug 23, 2026).
What is the net profit margin of SWAT?
The net profit margin of Sriwahana is about −6.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
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