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PT. Mandom Indonesia Tbk (TCID) Fair Value & Analysis

Consumer Defensive · ID · Market cap 1.1T IDR

PM PT. Mandom Indonesia Tbk TCID · JK
Price2,670 IDR
Fair Value798.98 IDR
Upside-70.1%
Quality65/100
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Expensive Growth
Thin margins · 0.5% net margin
negative free cash flow
1.39% dividend yield
Trails peers (4/12)
Narrow moat 27/100
Evidence: Medium Range 599.24 IDR – 998.73 IDR Share as image

Fair value as of: Jul 15, 2026

From 12 valuation models · updated 26 days ago

Share price −4.6% over the past month.

A solid business, but screening 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (998.73 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

4,024 IDR 1,504 IDR Fair Value 798.98 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 1,504 IDR – 4,024 IDR · fair‑value band 599.24 IDR – 998.73 IDR · the 2,670 IDR price screens above the 798.98 IDR fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

PT. Mandom Indonesia Tbk (TCID) currently trades at 2,670 IDR, while our model-based Fair Value estimate is 798.98 IDR, implying the stock looks roughly 70.1% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, PT. Mandom Indonesia Tbk generated revenue of 2.1T IDR at a net margin of 0.5%. Revenue declined 6.8% year over year. It earns a return on equity of 0.6%. The balance sheet holds a net cash position of 532B IDR. Fundamentals as of Jul 15, 2026

Our scenario range runs from 599.24 IDR (bear case) to 998.73 IDR (bull case); at 2,670 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 34% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at -70%, TCID screens richer 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
Residual Income 3,094 IDR 2,923 IDR 2,156 IDR 76
Gordon GGM 903.45 IDR 1,805 IDR 3,239 IDR 70
Growth-Adj P/E 463.64 IDR 662.34 IDR 861.05 IDR 68
All 12 models by family
DCF Models
Owner Earnings 2,970 IDR 3,792 IDR 5,046 IDR 31
Earnings-Based
Graham-Dodd 258.72 IDR 655.49 IDR 851.93 IDR 54
PEG = 1.0 121.45 IDR 173.49 IDR 225.54 IDR 46
Dividend Discount
Gordon GGM 903.45 IDR 1,805 IDR 3,239 IDR 70
DDM Multi-Stage 903.45 IDR 1,400 IDR 1,963 IDR 61
Multiples
P/E Multiple 599.24 IDR 798.98 IDR 998.73 IDR 63
P/S Multiple 485.10 IDR 646.80 IDR 808.49 IDR 58
P/B Multiple 485.10 IDR 646.80 IDR 808.49 IDR 55
EV/EBITDA 3,673 IDR 4,450 IDR 5,226 IDR 54
Asset-Based
NCAV (Graham) 2,226 IDR 2,982 IDR 4,451 IDR 50
Economic Profit
Residual Income 3,094 IDR 2,923 IDR 2,156 IDR 76
Growth Earnings
Growth-Adj P/E 463.64 IDR 662.34 IDR 861.05 IDR 68

Widest divergence: DCF Models (3,792 IDR) versus Earnings-Based (173.49 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.1T IDR
Revenue growth (YoY) -6.8%
Net margin 0.5%
Return on equity 0.6%
Free cash flow −88.1B IDR FY2025
P/E ratio 97.3
More key figures
Operating margin 5.0%
EPS (TTM) 27.95 IDR
Dividend yield 1.4%
EPS growth (YoY) -13.4%
Net cash 532B IDR FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 62 · Market factors (momentum, volatility) 45

Profitability 33
Margins and returns on capital today
Quality Growth 94
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 42
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. Mandom Indonesia Tbk manufactures and sells cosmetics and other products in Indonesia. It offers hair care, skin care and make-up, body care, and face care products, as well as perfumes, cleansing materials, and plastic containers.

Full company description

PT. Mandom Indonesia Tbk manufactures and sells cosmetics and other products in Indonesia. It offers hair care, skin care and make-up, body care, and face care products, as well as perfumes, cleansing materials, and plastic containers. The company markets its products under the GATSBY, PIXY, PUCELLE, MIRATONE, LUCIDO-L, MANDOM, Tancho, JOHNNY ANDREAN, SPALDING, GLAZELLE de Pucelle, Color Comm., Fresh n fresh, LOVILLEA, and STYLE UP brands. It sells its products in the United Arab Emirates, Malaysia, Japan, Thailand, the Philippines, Singapore, Korea, Vietnam, Hongkong, India, and Taiwan. The company was formerly known as PT Tancho Indonesia and changed its name to PT. Mandom Indonesia Tbk in 2001. The company was incorporated in 1969 and is headquartered in Jakarta, Indonesia. PT. Mandom Indonesia Tbk operates as a subsidiary of Mandom Corporation.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT. Mandom Indonesia Tbk reported revenue of 2.1T IDR in FY2025 versus 1.9T IDR in FY2021, a compound +3.8%/yr. Reported net income was 15.3B IDR in FY2025.

Growth Quality 31/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.1T IDR
Latest YoY
+15.4%
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.
+1.6%
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.
+2.7%
Avg. growth/yr (24Y) 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.
+6.0%
Revenue +3.8%/yr
FY21 1.9T IDR
FY22 2.0T IDR
FY23 2.1T IDR
FY24 1.9T IDR
FY25 2.1T IDR
Net income
FY21 −75.7B IDR
FY22 18.5B IDR
FY23 38.1B IDR
FY24 −125B IDR
FY25 15.3B IDR

TCID screens 70% overvalued. Compare with The Procter & Gamble Company →

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Cite: Fair Value Calculator (2026). "PT. Mandom Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/TCID

Peer Group

Household & Personal Products · 244 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 65 · Above median
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets -0% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 1.4% · Bottom 25%

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 97.3× · Pricier than 75% of peers
P/B 0.61× · Cheaper than median
P/S (TTM) 0.52× · Cheaper than median
EV/EBITDA 5.4× · 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 0 · sector 28
FUTURE 0 · sector 4
PAST 2 · sector 26
HEALTH 0 · sector 98
DIVIDEND 28 · sector 50

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $146.80 $108.16 -26%
Unilever PLC ULN 1,080 MXN 1,273 MXN +18%
Hindustan Unilever Limited HINDUNILVR ₹2,144 ₹1,000 -53%
Essity AB ESSITYA kr 279.00 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹1,088 ₹367.64 -66%
Marico Limited MARICO ₹846.75 ₹233.05 -72%
APR Co 278470 375,000 KRW 151,222 KRW -60%
Dabur India Limited DABUR ₹429.45 ₹181.60 -58%
Kimberly-Clark de México, S. A. B. de C. V., KIMBERA 38.07 MXN 50.09 MXN +32%
PT Unilever Indonesia Tbk UNVR 1,730 IDR 1,934 IDR +12%

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Frequently asked questions

Is PT. Mandom Indonesia Tbk (TCID) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 798.98 IDR versus a price of 2,670 IDR, about −70% (overvalued).
What is the fair value of TCID?
Our model-based fair value for PT. Mandom Indonesia Tbk is 798.98 IDR (as of Jul 15, 2026), built from audited fundamentals. The current price is 2,670 IDR.
What is the quality score of TCID?
PT. Mandom Indonesia Tbk has a Quality Score of 65/100. 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. Mandom Indonesia Tbk (TCID)?
PT. Mandom Indonesia Tbk reported trailing-twelve-month revenue of about 2.1T IDR (latest available figure, as of Jul 15, 2026).
What is the net profit margin of TCID?
The net profit margin of PT. Mandom Indonesia Tbk is about 0.5%, meaning it keeps roughly 0.5% of revenue as net income. Based on the latest reported figures.
Does PT. Mandom Indonesia Tbk pay a dividend?
PT. Mandom Indonesia Tbk currently shows a dividend yield of about 1.34% relative to its recent price (as of Jul 15, 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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