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PT Trimuda Nuansa Citra Tbk, (TNCA) Fair Value & Analysis

Industrials · ID · Market cap 57.3B IDR

PT PT Trimuda Nuansa Citra Tbk, TNCA · JK
Price165.00 IDR
Fair Value99.08 IDR
Upside-40.0%
Quality53/100
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Weak Growth
Loss-making · -5.1% net margin
Low debt · generates free cash flow
Trails peers (3/10)
Narrow moat 16/100
Evidence: Medium Range 74.36 IDR – 123.80 IDR Share as image

Fair value as of: Jul 16, 2026

From 10 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 49.54 IDR to 99.08 IDR (+100.0%) since Jun 24, 2026. Share price +22.2% over the past month.

A solid business, but screening 40% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (123.80 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

2,730 IDR 112.00 IDR Fair Value 99.08 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 112.00 IDR – 2,730 IDR · fair‑value band 74.36 IDR – 123.80 IDR · the 165.00 IDR price screens above the 99.08 IDR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Trimuda Nuansa Citra Tbk, (TNCA) currently trades at 165.00 IDR, while our model-based Fair Value estimate is 99.08 IDR, implying the stock looks roughly 40.0% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials 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 Trimuda Nuansa Citra Tbk, generated revenue of 74.0B IDR at a net margin of -5.1%. Revenue grew 1.3% year over year. It earns a return on equity of -9.0%. The balance sheet holds a net cash position of 38.3M IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 74.36 IDR (bear case) to 123.80 IDR (bull case); at 165.00 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 51% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -11% fair-value upside, at -40%, TNCA 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
Growth DCF 14.17 IDR 17.93 IDR 23.46 IDR 80
EV/EBITDA 40.83 IDR 53.19 IDR 65.55 IDR 54
NCAV (Graham) 50.74 IDR 67.99 IDR 101.48 IDR 50
All 10 models by family
DCF Models
FCF DCF 13.82 IDR 17.75 IDR 23.85 IDR 38
Owner Earnings 16.27 IDR 21.16 IDR 28.74 IDR 31
5Y Revenue Exit 12.68 IDR 16.75 IDR 22.00 IDR 39
5Y EBITDA Exit 27.75 IDR 42.86 IDR 60.65 IDR 41
10Y Revenue Exit 12.77 IDR 16.44 IDR 20.74 IDR 36
10Y EBITDA Exit 22.35 IDR 33.85 IDR 47.67 IDR 37
Multiples
EV/EBITDA 40.83 IDR 53.19 IDR 65.55 IDR 54
EV/Revenue 12.62 IDR 16.43 IDR 20.24 IDR 43
Asset-Based
NCAV (Graham) 50.74 IDR 67.99 IDR 101.48 IDR 50
Growth DCF
Growth DCF 14.17 IDR 17.93 IDR 23.46 IDR 80

Widest divergence: Asset-Based (67.99 IDR) versus Multiples (16.43 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 74.0B IDR
Revenue growth (YoY) +1.3%
Net margin -5.1%
Return on equity -9.0%
Free cash flow 411M IDR FY2025
P/E ratio 43.0
More key figures
Operating margin -21.6%
EPS (TTM) 3.21 IDR
EPS growth (YoY) -57.9%
Net cash 38.3M IDR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 53 · Market factors (momentum, volatility) 35

Profitability 35
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 39
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 Trimuda Nuansa Citra Tbk, together with its subsidiary, PT GED Lintas Indonesia, engages in the postal, courier, and logistics businesses in Indonesia.

Full company description

PT Trimuda Nuansa Citra Tbk, together with its subsidiary, PT GED Lintas Indonesia, engages in the postal, courier, and logistics businesses in Indonesia. The company offers GED courier services, which provide shipping through land, sea, and air deliveries; warehouse and fulfillment services; charter/trucking services, which include distribution supported by fleet management systems and real-time GPS monitoring systems; mover services, comprising cargo relocation solutions for homes, offices, and warehouses; and hand-carry delivery solutions. It also provides mailing room services; dedicated courier services; GED international shipping services that consist of air and sea transportation; GED special handling services for delivering dangerous goods, medical shipments, and valuable goods; and cold storage and reefer services for temperature-sensitive products, including pharmaceuticals, frozen food, and vaccines. In addition, the company provides postal services, including written communication, email, parcel delivery, and financial transactions. It provides delivery services under the Garuda Express Delivery (GED) brand. PT Trimuda Nuansa Citra Tbk was founded in 1995 and is headquartered in Jakarta Selatan, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Trimuda Nuansa Citra Tbk, reported revenue of 73.8B IDR in FY2025 versus 76.4B IDR in FY2021, a compound −0.9%/yr. Reported net income was −915M IDR in FY2025.

Growth Quality 32/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
73.8B IDR
Latest YoY
+1.2%
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.
+0.3%
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.
+1.4%
Avg. growth/yr (10Y) 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 −0.9%/yr
FY21 76.4B IDR
FY22 73.1B IDR
FY23 67.9B IDR
FY24 72.9B IDR
FY25 73.8B IDR
Net income
FY21 1.2B IDR
FY22 735M IDR
FY23 438M IDR
FY24 397M IDR
FY25 −915M IDR

TNCA screens 40% overvalued. Compare with United Parcel Service, Inc →

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Cite: Fair Value Calculator (2026). "PT Trimuda Nuansa Citra Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/TNCA

Peer Group

Integrated Freight & Logistics · 218 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 53 · Above median
Fair Value upside −40% · Bottom 25%
Return on assets -5% · Bottom 25%
Net margin (TTM) -5% · Bottom 25%
Operating margin (TTM) -22% · Bottom 25%
Revenue growth 1% · Below median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 42.4× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers

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 46
FUTURE 7 · sector 8
PAST 0 · sector 26
HEALTH 100 · sector 94
DIVIDEND 0 · sector 56

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $117.72 $104.58 -11%
FedEx Corporation FDX $314.69 $347.68 +10%
Deutsche Post AG DHL €57.22 €53.18 -7%
DSV A/S DSV kr 1,660 kr 712.57 -57%
Kuehne + Nagel International AG KNIN CHF 209.90 CHF 147.92 -30%
J.B. Hunt Transport Services, Inc JBHT $291.41 $133.80 -54%
S.F. Holding 002352 ¥31.91 ¥48.64 +52%
C.H. Robinson Worldwide, Inc CHRW $193.50 $86.56 -55%
Expeditors International of Washington, Inc EXPD $172.02 $115.95 -33%
ZTO Express (Cayman) Inc 2057 HK$181.40 HK$241.93 +33%

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Frequently asked questions

Is PT Trimuda Nuansa Citra Tbk, (TNCA) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 99.08 IDR versus a price of 165.00 IDR, about −40% (overvalued).
What is the fair value of TNCA?
Our model-based fair value for PT Trimuda Nuansa Citra Tbk, is 99.08 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 165.00 IDR.
What is the quality score of TNCA?
PT Trimuda Nuansa Citra Tbk, has a Quality Score of 53/100. 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 Trimuda Nuansa Citra Tbk, (TNCA)?
PT Trimuda Nuansa Citra Tbk, reported trailing-twelve-month revenue of about 74.0B IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of TNCA?
The net profit margin of PT Trimuda Nuansa Citra Tbk, is about -5.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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