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PT Topindo Solusi Komunika Tbk (TOSK) Fair Value & Analysis

Technology · ID · Market cap 293B IDR

PT PT Topindo Solusi Komunika Tbk TOSK · JK
Price69.00 IDR
Fair Value27.50 IDR
Upside-60.1%
Quality39/100
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Mixed Growth
Thin margins · 0.3% net margin
Low debt · negative free cash flow
Trails peers (2/9)
Narrow moat 24/100
Evidence: Medium Range 26.67 IDR – 35.75 IDR Share as image

Fair value as of: Jul 17, 2026

From 14 valuation models · updated 24 days ago

Share price +13.1% over the past month.

Below-average quality, and screening another 60% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (35.75 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.
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Price vs Fair Value (3 years)

159.26 IDR 49.16 IDR Fair Value 27.50 IDR Feb 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

30‑month range 49.16 IDR – 159.26 IDR · fair‑value band 26.67 IDR – 35.75 IDR · the 69.00 IDR price screens above the 27.50 IDR fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

PT Topindo Solusi Komunika Tbk (TOSK) currently trades at 69.00 IDR, while our model-based Fair Value estimate is 27.50 IDR, implying the stock looks roughly 60.1% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Technology 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 Topindo Solusi Komunika Tbk generated revenue of 1.7T IDR at a net margin of 0.3%. Revenue declined 1.3% year over year. It earns a return on equity of 2.8%. The balance sheet holds a net cash position of 11.7B IDR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 26.67 IDR (bear case) to 35.75 IDR (bull case); at 69.00 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 49% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -60%, TOSK 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 26.93 IDR 26.69 IDR 24.03 IDR 76
ROIC Compounder 19.36 IDR 21.89 IDR 24.14 IDR 72
Gordon GGM 4.49 IDR 4.94 IDR 5.63 IDR 70
All 14 models by family
Earnings-Based
Graham-Dodd 8.91 IDR 10.89 IDR 12.25 IDR 54
EPV 19.36 IDR 21.89 IDR 24.14 IDR 59
Dividend Discount
Gordon GGM 4.49 IDR 4.94 IDR 5.63 IDR 70
DDM Multi-Stage 4.49 IDR 5.73 IDR 7.53 IDR 61
Multiples
P/E Multiple 27.52 IDR 36.70 IDR 45.87 IDR 63
P/S Multiple 16.71 IDR 22.28 IDR 27.85 IDR 58
P/B Multiple 16.71 IDR 22.28 IDR 27.85 IDR 55
EV/EBIT 41.36 IDR 53.48 IDR 65.60 IDR 53
EV/EBITDA 40.41 IDR 52.21 IDR 64.01 IDR 54
EV/Revenue 23.39 IDR 31.27 IDR 39.14 IDR 43
Asset-Based
NCAV (Graham) 17.95 IDR 24.05 IDR 35.89 IDR 50
Economic Profit
Residual Income 26.93 IDR 26.69 IDR 24.03 IDR 76
ROIC Compounder 19.36 IDR 21.89 IDR 24.14 IDR 72
Growth Earnings
Growth-Adj P/E 19.25 IDR 27.50 IDR 35.75 IDR 68

Widest divergence: Multiples (31.27 IDR) versus Dividend Discount (4.94 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.7T IDR
Revenue growth (YoY) -1.3%
Net margin 0.3%
Return on equity 2.8%
Free cash flow −7.9B IDR FY2025
Operating margin 0.4%
More key figures
EPS growth (YoY) -61.8%
Net cash 11.7B IDR FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 43 · Market factors (momentum, volatility) 47

Profitability 40
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 41
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 Topindo Solusi Komunika Tbk engages in the sale of digital products in Indonesia. It operates in three segments: Digital Product, Fast Moving Consumer Products, and Ballroom and Hotel. The company offers digital products, such as credit top-ups, data packages, PLN tokens, payment point online bank, and e-money.

Full company description

PT Topindo Solusi Komunika Tbk engages in the sale of digital products in Indonesia. It operates in three segments: Digital Product, Fast Moving Consumer Products, and Ballroom and Hotel. The company offers digital products, such as credit top-ups, data packages, PLN tokens, payment point online bank, and e-money. In addition, the company engages in payment solution services; and online-to-offline platform, as well as ballroom and hotel. PT Topindo Solusi Komunika Tbk is headquartered in Singkawang, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Topindo Solusi Komunika Tbk reported revenue of 1.7T IDR in FY2025 versus 2.5T IDR in FY2021, a compound −8.7%/yr. Reported net income was 5.7B IDR in FY2025, compounding −18.8%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.7T IDR
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.
−3.3%
Revenue −8.7%/yr
FY21 2.5T IDR
FY22 2.4T IDR
FY23 2.4T IDR
FY24 2.3T IDR
FY25 1.7T IDR
Net income −18.8%/yr
FY21 13.2B IDR
FY22 4.6B IDR
FY23 5.4B IDR
FY24 6.7B IDR
FY25 5.7B IDR

TOSK screens 60% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "PT Topindo Solusi Komunika Tbk Fair Value". https://www.fairvalue-calculator.com/stock/TOSK

Peer Group

Software - Application · 709 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 39 · Bottom 25%
Fair Value upside −60% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 3% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.01× · Lower 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 0
FUTURE 0 · sector 38
PAST 11 · sector 13
HEALTH 99 · sector 98
DIVIDEND 0 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is PT Topindo Solusi Komunika Tbk (TOSK) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 27.50 IDR versus a price of 69.00 IDR, about −60% (overvalued).
What is the fair value of TOSK?
Our model-based fair value for PT Topindo Solusi Komunika Tbk is 27.50 IDR (as of Jul 17, 2026), built from audited fundamentals. The current price is 69.00 IDR.
What is the quality score of TOSK?
PT Topindo Solusi Komunika Tbk 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 PT Topindo Solusi Komunika Tbk (TOSK)?
PT Topindo Solusi Komunika Tbk reported trailing-twelve-month revenue of about 1.7T IDR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of TOSK?
The net profit margin of PT Topindo Solusi Komunika Tbk is about 0.3%, meaning it keeps roughly 0.3% of revenue as net income. 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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