PT Sarana Menara (TOWR) fair value: what the stock is really worth
As of Oct 21, 2026: fair value (intrinsic value) of PT Sarana Menara stock IDR 1,208, price IDR 406, upside +197.5%, quality 42 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range 316.00 IDR – 1,389 IDR · fair‑value band 571.98 IDR – 1,723 IDR · the 406.00 IDR price screens below the 1,208 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
Follow PT Sarana Menara in your weekly email
Every Wednesday you see whether PT Sarana Menara is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
PT Sarana Menara Nusantara Tbk. owns and operates telecommunication towers for wireless operators in Indonesia. It operates in two segments, Tower Rental, and Other Services.
Show moreShow less
The company offers wireline telecommunication services to provide internet broadband and virtual private network; fiber to the home (FTTH) telecommunication services to build and manage fiber optic infrastructure; and very small aperture terminal (VSAT) solution to facilitate telecommunication services using satellite technology to remote locations.
It also provides telecommunication equipment trading, construction, and installation services; and system communication data, internet interconnection, cable-free telecommunication, satellite telecommunication, payment, and hosting and related services.
In addition, the company owns and rents real estate properties; trades in various goods; and wholesales and retails computer and computer equipment.
Further, it engages in management consulting; offers web portals; software publishing; electrical power support and installation; and electric power generation activities. PT Sarana Menara Nusantara Tbk. was founded in 2008 and is headquartered in Kudus, Indonesia.
Stock analysis
PT Sarana Menara (TOWR) currently trades at 406.00 IDR, while our model-based Fair Value estimate is 1,208 IDR, implying the stock looks roughly 66.4% undervalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 1,325 IDR per share, and 20 of the 25 models we run sit above the 406.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 208.56 IDR, and 5 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: 571.98 IDR (bear) to 1,723 IDR (bull), the price of 406.00 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 42/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PT Sarana Menara reported revenue of 13.3T IDR in FY2025 versus 8.6T IDR in FY2021, a compound +11.5%/yr. Reported net income was 3.7T IDR in FY2025, compounding +1.8%/yr from FY2021.
Key figures
Market cap 23.6T IDR (≈ $1.3B) Small · P/E ratio 6.0 · P/S ratio 1.67 · EPS (TTM) 68.02 IDR · Dividend yield 1.7% · Net margin 27.5% · Return on equity 16.1% · Return on assets (EBIT) 9.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 75 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at 198%, TOWR screens cheaper than that median.
Fair Value models
Bear571.98 IDRFair Value 1,208 IDRBull1,723 IDR
Price 406.00 IDR · Upside +197.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (49.41 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.6%
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.
+6.5%
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.
+12.4%
Start year 2020 (pandemic). Over 10 years: +11.5% a year
Revenue growth 17 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.
+25.7%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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. 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.
+5.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.9%
Dividend (yield on the price)1.7%
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.3.9% vs 1.7%, steady
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.61% → 54%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about +10.4% a year for the price and +0.9% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Real Estate Services · 527 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside+197.5% · Top 25%
Profitability
Return on equity (12 months)16.1% · Top 25%
Return on assets4.8% · Top 25%
Net margin (12 months)27.5% · Above median
Operating margin (12 months)54.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)14.6% · Above median
Dividend yield (12 months)1.7% · Below median
Balance sheet
Debt / equity1.08× · Highest 25%
Valuation Multiplesvs Real Estate Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is PT Sarana Menara (TOWR) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 1,208 IDR versus a price of 406.00 IDR, about +198% upside (undervalued).
What is the fair value of TOWR?
Our model-based fair value for PT Sarana Menara is 1,208 IDR (as of Oct 3, 2026), built from audited fundamentals. The current price: 406.00 IDR.
What is the quality score of TOWR?
PT Sarana Menara has a Quality Score of 42/100. 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 PT Sarana Menara (TOWR)?
Our model-based price target is the fair value of 1,208 IDR (as of Oct 3, 2026) from 26 valuation models. Cautious scenario 571.98 IDR, optimistic scenario 1,723 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the PT Sarana Menara stock forecast for 2026?
Our models put fair value at 1,208 IDR, about +198% upside versus a price of 406.00 IDR (undervalued). Cautious scenario 571.98 IDR, optimistic scenario 1,723 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of PT Sarana Menara (TOWR)?
PT Sarana Menara reported trailing-twelve-month revenue of about 14.1T IDR (latest available figure, as of Oct 3, 2026).
Does PT Sarana Menara pay a dividend?
PT Sarana Menara currently shows a dividend yield of 1.70% relative to its recent price (as of Oct 3, 2026).
What growth is priced into PT Sarana Menara (TOWR)?
For today's price to be fair in a discounted-cash-flow model, PT Sarana Menara would have to grow free cash flow by +13.3 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.4 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of TOWR use?
Our models discount PT Sarana Menara at 13.5 %: a base by market capitalisation (small), country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For PT Sarana Menara that is +13.3 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has PT Sarana Menara (TOWR) delivered so far?
Over the past 5 years revenue at PT Sarana Menara grew +12.4 % a year. The price currently implies +13.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of PT Sarana Menara (TOWR) growing?
The median revenue growth in the sector is +3.4 % a year. That is the yardstick for the growth priced into PT Sarana Menara (+13.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of PT Sarana Menara (TOWR)?
The free-cash-flow yield on the price is 18.24 %: that much free cash flow PT Sarana Menara produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PT Sarana Menara (TOWR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PT Sarana Menara it is 1,208 IDR per share (as of Oct 3, 2026), against a price of 406.00 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is PT Sarana Menara stock overvalued or undervalued in 2026?
As of Oct 3, 2026, TOWR trades below its calculated fair value: price 406.00 IDR, fair value 1,208 IDR, a gap of about +198% (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 TOWR?
No. The price is what the market pays today (406.00 IDR); the fair value is what the company's own numbers justify (1,208 IDR). For PT Sarana Menara the two are 802.02 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is PT Sarana Menara worth?
The market values PT Sarana Menara at about 23.6T IDR (market capitalisation, as of Oct 3, 2026). Per share that is 406.00 IDR; our models calculate a fair value of 1,208 IDR per share.
What do the bullish and bearish scenarios say about TOWR?
Our models span a range for PT Sarana Menara: cautious scenario 571.98 IDR, base 1,208 IDR, optimistic 1,723 IDR per share (as of Oct 3, 2026, price 406.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TOWR?
PT Sarana Menara trades at a price-to-earnings ratio of 6.0 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,208 IDR is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 5.9 (reported for FY2025: 6.4). Other multiples: P/B 0.9, P/S 1.7, EV/EBITDA 5.3.
How solid is the balance sheet of PT Sarana Menara (TOWR)?
Balance-sheet figures for PT Sarana Menara (as of Oct 3, 2026): return on equity 16.1%, debt of 1.08 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is TOWR from its 52-week high?
PT Sarana Menara trades at 406.00 IDR, about 34% below its 52-week high of 613.61 IDR and 28% above the low of 316.00 IDR (as of Oct 21, 2026). Distance from the high says nothing about value: that is what the fair value of 1,208 IDR is for.
Which stocks are comparable to PT Sarana Menara?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties Limited, 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 PT Sarana Menara stock attractive at the current price?
The data as of Oct 3, 2026: price 406.00 IDR, calculated fair value 1,208 IDR (+198%), Quality Score 42/100, from 26 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 TOWR calculated?
We run PT Sarana Menara through 26 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 1,208 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 13.6 % above its aggregate fair value. PT Sarana Menara currently trades 66 % 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 PT Sarana Menara (TOWR)?
The closing price on Oct 21, 2026 was 406.00 IDR. Our model-based fair value is 1,208 IDR, about +198% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PT Sarana Menara right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (571.98 IDR). The market is more pessimistic than our downside scenario. The model range is unusually wide (571.98 IDR to 1,723 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of PT Sarana Menara (TOWR) come from?
Earnings per share at PT Sarana Menara grew +4.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.0 %, EBIT margin −3.8 %, tax rate +2.9 %, residual (interest, one-offs) −5.7 %. 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 PT Sarana Menara
How large is the market capitalisation of PT Sarana Menara (TOWR)?
The market capitalisation of PT Sarana Menara is 23.6T IDR (≈ $1.3B). 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 is the P/S ratio of PT Sarana Menara (TOWR)?
The price-to-sales ratio of PT Sarana Menara is 1.67 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PT Sarana Menara (TOWR)?
Earnings per share at PT Sarana Menara are 68.02 IDR (price ÷ EPS = P/E 6.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PT Sarana Menara (TOWR)?
The dividend yield of PT Sarana Menara is 1.7% (payout 9.3%, on adjusted earnings, reported 10.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PT Sarana Menara (TOWR)?
The net margin of PT Sarana Menara is 27.5% (last twelve months). 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 PT Sarana Menara (TOWR)?
The return on equity (ROE) of PT Sarana Menara is 16.1% (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 PT Sarana Menara (TOWR)?
On an EBIT basis the return on assets of PT Sarana Menara is 9.5% (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 PT Sarana Menara (TOWR)?
The operating margin of PT Sarana Menara is 54.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PT Sarana Menara (TOWR)?
Revenue at PT Sarana Menara is growing +14.6% versus a year earlier (3y avg +6.5%). 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 PT Sarana Menara (TOWR)?
Earnings per share at PT Sarana Menara are growing −7.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does PT Sarana Menara (TOWR) carry?
The net debt of PT Sarana Menara is 44.6T IDR (fiscal year 2025, ≈ 10.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch PT Sarana Menara in the live analysis
One click puts PT Sarana Menara on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 28,000+ stock screener.
Thin data
Oct 3, 2026