Tembaga Mulia Semanan Tbk (TBMS) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Tembaga Mulia Semanan Tbk IDR 1,757, price IDR 1,200, upside +46.4%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 401.39 IDR – 1,523 IDR · fair‑value band 1,506 IDR – 2,008 IDR · the 1,200 IDR price screens below the 1,757 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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PT Tembaga Mulia Semanan Tbk manufactures, sells, and exports copper and aluminum rods and wires in Indonesia and internationally. It operates through Copper Rod and Wire, and Aluminum Rod segments. The Copper Rod and Wire segment produces copper rods and various sizes of copper wires. The Aluminum Rod segment produces EC grade rod, alloy rod, and TAL rod.
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PT Tembaga Mulia Semanan Tbk manufactures, sells, and exports copper and aluminum rods and wires in Indonesia and internationally. It operates through Copper Rod and Wire, and Aluminum Rod segments. The Copper Rod and Wire segment produces copper rods and various sizes of copper wires. The Aluminum Rod segment produces EC grade rod, alloy rod, and TAL rod. PT Tembaga Mulia Semanan Tbk was incorporated in 1977 and is based in Jakarta Barat, Indonesia.
Stock analysis
Tembaga Mulia Semanan Tbk (TBMS) currently trades at 1,200 IDR, while our model-based Fair Value estimate is 1,757 IDR, implying the stock looks roughly 31.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1,472 IDR per share, and 7 of the 15 models we run sit above the 1,200 IDR price.
Bear case: the Dividend Discount group reads lowest at 339.78 IDR, and 8 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: 1,506 IDR (bear) to 2,008 IDR (bull), the price of 1,200 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 46/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Tembaga Mulia Semanan Tbk reported revenue of 909M IDR in FY2025 versus 721M IDR in FY2021, a compound +6.0%/yr. Reported net income was 4.0M IDR in FY2025, compounding −12.9%/yr from FY2021.
Key figures
Market cap 882B IDR (≈ $49.3M) · EPS (TTM) 0.0190 IDR · Net margin 0.4% · Return on equity 9.1% · Return on assets (EBIT) 7.1% · Operating margin 1.9% · Revenue (TTM) 972M IDR · Revenue growth (YoY) +24.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 46%, TBMS screens cheaper than that median.
Fair Value models
Bear 1,506 IDRFair Value 1,757 IDRBull 2,008 IDR
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 (0.0140 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.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.
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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.3%
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.
+8.0%
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.
+15.1%
Start year 2020 (pandemic). Over 10 years: +5.8% 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.
−23.6%
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What shareholders gained per year (last 5 years), in IDR ⓘ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. Basis: EBIT basis. 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.
−7.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.1%
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.−8% vs −1%, 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.2% → 1%
Compare Tembaga Mulia Semanan Tbk with another stock
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.Metal Fabrication · 263 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside+45% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets4% · Above median
Net margin (TTM)1% · Below median
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth24% · Top 25%
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
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Is Tembaga Mulia Semanan Tbk (TBMS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,757 IDR versus a price of 1,200 IDR, about +46% upside (undervalued).
What is the fair value of TBMS?
Our model-based fair value for Tembaga Mulia Semanan Tbk is 1,757 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,200 IDR.
What is the quality score of TBMS?
Tembaga Mulia Semanan Tbk has a Quality Score of 46/100. 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 Tembaga Mulia Semanan Tbk (TBMS)?
Our model-based price target is the fair value of 1,757 IDR (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 1,506 IDR, optimistic scenario 2,008 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Tembaga Mulia Semanan Tbk stock forecast for 2026?
Our models put fair value at 1,757 IDR, about +46% upside versus a price of 1,200 IDR (undervalued). Cautious scenario 1,506 IDR, optimistic scenario 2,008 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Tembaga Mulia Semanan Tbk (TBMS)?
Tembaga Mulia Semanan Tbk reported trailing-twelve-month revenue of about 972M IDR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Tembaga Mulia Semanan Tbk (TBMS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tembaga Mulia Semanan Tbk it is 1,757 IDR per share (as of Sep 24, 2026), against a price of 1,200 IDR. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Tembaga Mulia Semanan Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TBMS trades below its calculated fair value: price 1,200 IDR, fair value 1,757 IDR, a gap of about +46% (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 TBMS?
No. The price is what the market pays today (1,200 IDR); the fair value is what the company's own numbers justify (1,757 IDR). For Tembaga Mulia Semanan Tbk the two are 556.58 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Tembaga Mulia Semanan Tbk worth?
The market values Tembaga Mulia Semanan Tbk at about 882B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 1,200 IDR; our models calculate a fair value of 1,757 IDR per share.
What do the bullish and bearish scenarios say about TBMS?
Our models span a range for Tembaga Mulia Semanan Tbk: cautious scenario 1,506 IDR, base 1,757 IDR, optimistic 2,008 IDR per share (as of Sep 24, 2026, price 1,200 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tembaga Mulia Semanan Tbk (TBMS)?
Balance-sheet figures for Tembaga Mulia Semanan Tbk (as of Sep 24, 2026): return on equity 9.1%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is TBMS from its 52-week high?
Tembaga Mulia Semanan Tbk trades at 1,200 IDR, about 21% below its 52-week high of 1,523 IDR and 20% above the low of 1,001 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 1,757 IDR is for.
Which stocks are comparable to Tembaga Mulia Semanan Tbk?
From the same area (Industrials) we also value Carpenter Technology Corporation, ATI Inc, Mueller Industries, Inc, Aurubis AG, 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 Tembaga Mulia Semanan Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 1,200 IDR, calculated fair value 1,757 IDR (+46%), Quality Score 46/100, from 15 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 TBMS calculated?
We run Tembaga Mulia Semanan Tbk through 15 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 1,757 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 13.0 % above its aggregate fair value. Tembaga Mulia Semanan Tbk currently trades 46 % 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 Tembaga Mulia Semanan Tbk (TBMS)?
The closing price on Sep 24, 2026 was 1,200 IDR. Our model-based fair value is 1,757 IDR, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tembaga Mulia Semanan Tbk right now?
The price is below even our cautious bear case (1,506 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Tembaga Mulia Semanan Tbk (TBMS) come from?
Earnings per share at Tembaga Mulia Semanan Tbk grew +3.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.2 %, EBIT margin −4.0 %, tax rate +0.6 %, residual (interest, one-offs) +2.2 %. 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 Tembaga Mulia Semanan Tbk
How large is the market capitalisation of Tembaga Mulia Semanan Tbk (TBMS)?
The market capitalisation of Tembaga Mulia Semanan Tbk is 882B IDR (≈ $49.3M). 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 are the earnings per share of Tembaga Mulia Semanan Tbk (TBMS)?
Earnings per share at Tembaga Mulia Semanan Tbk are 0.0190 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Tembaga Mulia Semanan Tbk (TBMS)?
The net margin of Tembaga Mulia Semanan Tbk is 0.4% (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 Tembaga Mulia Semanan Tbk (TBMS)?
The return on equity (ROE) of Tembaga Mulia Semanan Tbk is 9.1% (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 Tembaga Mulia Semanan Tbk (TBMS)?
On an EBIT basis the return on assets of Tembaga Mulia Semanan Tbk is 7.1% (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 Tembaga Mulia Semanan Tbk (TBMS)?
The operating margin of Tembaga Mulia Semanan Tbk is 1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tembaga Mulia Semanan Tbk (TBMS)?
Revenue at Tembaga Mulia Semanan Tbk is growing +24.1% versus a year earlier (3y avg +8.0%). 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 Tembaga Mulia Semanan Tbk (TBMS)?
Earnings per share at Tembaga Mulia Semanan Tbk are growing +405% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tembaga Mulia Semanan Tbk (TBMS) generate?
The free cash flow of Tembaga Mulia Semanan Tbk is −24.1M 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 Tembaga Mulia Semanan Tbk (TBMS) carry?
The net debt of Tembaga Mulia Semanan Tbk is 40.7M 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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