Trimegah Securities Tbk (TRIM) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Trimegah Securities Tbk IDR 966, price IDR 800, upside +20.8%, quality 53 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 104.83 IDR – 850.00 IDR · fair‑value band 434.96 IDR – 1,861 IDR · the 800.00 IDR price screens below the 966.42 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT Trimegah Sekuritas Indonesia Tbk engages in securities brokerage and underwriting, and investment management activities in Indonesia. It is also involved in financial advisory and mutual fund activities. The company was formerly known as PT Trimegah Securities Tbk and changed its name to PT Trimegah Sekuritas Indonesia Tbk in July 2016.
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PT Trimegah Sekuritas Indonesia Tbk engages in securities brokerage and underwriting, and investment management activities in Indonesia. It is also involved in financial advisory and mutual fund activities. The company was formerly known as PT Trimegah Securities Tbk and changed its name to PT Trimegah Sekuritas Indonesia Tbk in July 2016. PT Trimegah Sekuritas Indonesia Tbk was founded in 1990 and is headquartered in Jakarta, Indonesia.
Stock analysis
Trimegah Securities Tbk (TRIM) currently trades at 800.00 IDR, while our model-based Fair Value estimate is 966.42 IDR, implying the stock looks roughly 17.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1,984 IDR per share, and 4 of the 9 models we run sit above the 800.00 IDR price.
Bear case: the Asset-Based group reads lowest at 195.51 IDR, and 5 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: 434.96 IDR (bear) to 1,861 IDR (bull), the price of 800.00 IDR sits inside 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 53/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Trimegah Securities Tbk reported revenue of 1.7T IDR in FY2025 versus 453B IDR in FY2021, a compound +38.8%/yr. Reported net income was 593B IDR in FY2025, compounding +83.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 5.7T IDR (≈ $318M) · P/E ratio 2.1 · P/S ratio 0.73 · EPS (TTM) 386.46 IDR · Dividend yield 0.1% · Net margin 35.3% · Return on equity 32.2% · Return on assets (EBIT) 10.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 99% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at 21%, TRIM screens cheaper than that median.
Fair Value models
Bear 434.96 IDRFair Value 966.42 IDRBull 1,861 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 (283.02 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.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+85.4%
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.
+39.9%
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.
+32.1%
Start year 2020 (pandemic). Over 10 years: +17.3% 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.
+13.3%
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What shareholders gained per year (last 5 years), in IDR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+79.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+79.1%
Dividend (yield on the price)0.1%
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.63% vs 33%, picking up
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.27% → 52%
2025 sits 234% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Trimegah Securities Tbk with another stock
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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.Capital Markets · 462 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+14% · Above median
Profitability
Return on equity (TTM)32% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)38% · Top 25%
Operating margin (TTM)42% · Above median
Growth and dividend
Revenue growth36% · Above median
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity1.14× · Highest 25%
Valuation Multiplesvs Capital Markets median · lower = cheaper
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Is Trimegah Securities Tbk (TRIM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 966.42 IDR versus a price of 800.00 IDR, about +21% upside (undervalued).
What is the fair value of TRIM?
Our model-based fair value for Trimegah Securities Tbk is 966.42 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 800.00 IDR.
What is the quality score of TRIM?
Trimegah Securities 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 price target for Trimegah Securities Tbk (TRIM)?
Our model-based price target is the fair value of 966.42 IDR (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 434.96 IDR, optimistic scenario 1,861 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Trimegah Securities Tbk stock forecast for 2026?
Our models put fair value at 966.42 IDR, about +21% upside versus a price of 800.00 IDR (undervalued). Cautious scenario 434.96 IDR, optimistic scenario 1,861 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Trimegah Securities Tbk (TRIM)?
Trimegah Securities Tbk reported trailing-twelve-month revenue of about 1.6T IDR (latest available figure, as of Sep 24, 2026).
Does Trimegah Securities Tbk pay a dividend?
Trimegah Securities Tbk currently shows a dividend yield of about 0.13% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Trimegah Securities Tbk (TRIM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Trimegah Securities Tbk it is 966.42 IDR per share (as of Sep 24, 2026), against a price of 800.00 IDR. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Trimegah Securities Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TRIM trades below its calculated fair value: price 800.00 IDR, fair value 966.42 IDR, a gap of about +21% (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 TRIM?
No. The price is what the market pays today (800.00 IDR); the fair value is what the company's own numbers justify (966.42 IDR). For Trimegah Securities Tbk the two are 166.42 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Trimegah Securities Tbk worth?
The market values Trimegah Securities Tbk at about 5.7T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 800.00 IDR; our models calculate a fair value of 966.42 IDR per share.
What do the bullish and bearish scenarios say about TRIM?
Our models span a range for Trimegah Securities Tbk: cautious scenario 434.96 IDR, base 966.42 IDR, optimistic 1,861 IDR per share (as of Sep 24, 2026, price 800.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TRIM?
Trimegah Securities Tbk trades at a price-to-earnings ratio of 2.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 966.42 IDR is built from several models across several years.
How solid is the balance sheet of Trimegah Securities Tbk (TRIM)?
Balance-sheet figures for Trimegah Securities Tbk (as of Sep 24, 2026): return on equity 32.2%, debt of 1.14 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is TRIM from its 52-week high?
Trimegah Securities Tbk trades at 800.00 IDR, about 6% below its 52-week high of 850.00 IDR and 99% above the low of 401.33 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 966.42 IDR is for.
Which stocks are comparable to Trimegah Securities Tbk?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Trimegah Securities Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 800.00 IDR, calculated fair value 966.42 IDR (+21%), Quality Score 53/100, from 9 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 TRIM calculated?
We run Trimegah Securities Tbk through 9 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 966.42 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 13.2 % above its aggregate fair value. Trimegah Securities Tbk currently trades 21 % 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 Trimegah Securities Tbk (TRIM)?
The closing price on Sep 24, 2026 was 800.00 IDR. Our model-based fair value is 966.42 IDR, about +21% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Trimegah Securities Tbk right now?
The model range is unusually wide (434.96 IDR to 1,861 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Trimegah Securities Tbk (TRIM) come from?
Earnings per share at Trimegah Securities Tbk grew +26.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.1 %, EBIT margin +16.9 %, tax rate +6.3 %, residual (interest, one-offs) −11.1 %. 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 Trimegah Securities Tbk
How large is the market capitalisation of Trimegah Securities Tbk (TRIM)?
The market capitalisation of Trimegah Securities Tbk is 5.7T IDR (≈ $318M). 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 Trimegah Securities Tbk (TRIM)?
The price-to-sales ratio of Trimegah Securities Tbk is 0.73 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Trimegah Securities Tbk (TRIM)?
Earnings per share at Trimegah Securities Tbk are 386.46 IDR (price ÷ EPS = P/E 2.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Trimegah Securities Tbk (TRIM)?
The dividend yield of Trimegah Securities Tbk is 0.1% (payout 0.3%). 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 Trimegah Securities Tbk (TRIM)?
The net margin of Trimegah Securities Tbk is 35.3% (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 Trimegah Securities Tbk (TRIM)?
The return on equity (ROE) of Trimegah Securities Tbk is 32.2% (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 Trimegah Securities Tbk (TRIM)?
On an EBIT basis the return on assets of Trimegah Securities Tbk is 10.3% (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 Trimegah Securities Tbk (TRIM)?
The operating margin of Trimegah Securities Tbk is 41.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Trimegah Securities Tbk (TRIM)?
Revenue at Trimegah Securities Tbk is growing +35.6% versus a year earlier (3y avg +39.9%). 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 Trimegah Securities Tbk (TRIM)?
Earnings per share at Trimegah Securities Tbk are growing +18.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Trimegah Securities Tbk (TRIM) generate?
The free cash flow of Trimegah Securities Tbk is −1.7T 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 Trimegah Securities Tbk (TRIM) carry?
The net debt of Trimegah Securities Tbk is 2.9T 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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