Trust Finance Indonesia Tbk (TRUS) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Trust Finance Indonesia Tbk IDR 356, price IDR 428, upside -16.8%, quality 68 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 212.60 IDR – 1,363 IDR · fair‑value band 356.13 IDR – 397.13 IDR · the 428.00 IDR price screens above the 356.13 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 Trust Finance Indonesia Tbk provides financing services in Indonesia. The company offers finances to passenger and commercial vehicles, as well as heavy equipment, including excavators, bulldozers, and others. It provides services through agents and distributors.
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PT Trust Finance Indonesia Tbk provides financing services in Indonesia. The company offers finances to passenger and commercial vehicles, as well as heavy equipment, including excavators, bulldozers, and others. It provides services through agents and distributors. The company was formerly known as PT KIA Asia Finance and changed its name to PT Trust Finance Indonesia Tbk in February 2002. PT Trust Finance Indonesia Tbk was founded in 1990 and is headquartered in Jakarta, Indonesia.
Stock analysis
Trust Finance Indonesia Tbk (TRUS) currently trades at 428.00 IDR, while our model-based Fair Value estimate is 356.13 IDR, implying the stock looks roughly 20.2% overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 1,358 IDR per share, and 4 of the 11 models we run sit above the 428.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 180.42 IDR, and 7 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 356.13 IDR (bear) to 397.13 IDR (bull), the price of 428.00 IDR sits above 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 68/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Trust Finance Indonesia Tbk reported revenue of 46.2B IDR in FY2025 versus 47.1B IDR in FY2021, a compound −0.5%/yr. Reported net income was 19.3B IDR in FY2025, compounding −5.2%/yr from FY2021.
Key figures
Market cap 342B IDR (≈ $19.1M) · P/E ratio 15.9 · P/S ratio 6.66 · EPS (TTM) 26.92 IDR · Dividend yield 3.4% · Net margin 41.9% · Return on equity 4.0% · Return on assets (EBIT) 7.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 101% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at −17%, TRUS screens cheaper than that median.
Fair Value models
Bear 356.13 IDRFair Value 356.13 IDRBull 397.13 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 (19.76 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−17.9%
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.
−2.4%
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.
−1.3%
Start year 2020 (pandemic). Over 10 years: +3.0% a year
Revenue growth 24 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.
+6.1%
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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.
+4.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.3%
Dividend (yield on the price)3.4%
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.1% vs 7%, slowing
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.48% → 52%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−23.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −25.4% a year for the price.
Compare Trust Finance Indonesia Tbk with another stock
Price, fair value, quality and upside side by side.
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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.Credit Services · 331 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside−17% · Below median
Profitability
Return on equity (TTM)4% · Below median
Return on assets4% · Above median
Net margin (TTM)39% · Top 25%
Operating margin (TTM)1% · Bottom 25%
Growth and dividend
Revenue growth−40% · Bottom 25%
Dividend yield (TTM)3.4% · Below median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Credit Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Trust Finance Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/TRUS
Frequently asked questions
Is Trust Finance Indonesia Tbk (TRUS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 356.13 IDR versus a price of 428.00 IDR, about −17% upside (overvalued).
What is the fair value of TRUS?
Our model-based fair value for Trust Finance Indonesia Tbk is 356.13 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 428.00 IDR.
What is the quality score of TRUS?
Trust Finance Indonesia Tbk has a Quality Score of 68/100. 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 Trust Finance Indonesia Tbk (TRUS)?
Our model-based price target is the fair value of 356.13 IDR (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 356.13 IDR, optimistic scenario 397.13 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Trust Finance Indonesia Tbk stock forecast for 2026?
Our models put fair value at 356.13 IDR, about −17% upside versus a price of 428.00 IDR (overvalued). Cautious scenario 356.13 IDR, optimistic scenario 397.13 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Trust Finance Indonesia Tbk (TRUS)?
Trust Finance Indonesia Tbk reported trailing-twelve-month revenue of about 41.5B IDR (latest available figure, as of Sep 24, 2026).
Does Trust Finance Indonesia Tbk pay a dividend?
Trust Finance Indonesia Tbk currently shows a dividend yield of about 3.41% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Trust Finance Indonesia Tbk (TRUS)?
For today's price to be fair in a discounted-cash-flow model, Trust Finance Indonesia Tbk would have to grow free cash flow by -23.5 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of TRUS use?
Our models discount Trust Finance Indonesia Tbk at 12.0 %: a base by market capitalisation (nano), 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 Trust Finance Indonesia Tbk that is -23.5 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Trust Finance Indonesia Tbk (TRUS) delivered so far?
Over the past 5 years revenue at Trust Finance Indonesia Tbk grew -1.3 % a year. The price currently implies -23.5 % 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 Trust Finance Indonesia Tbk (TRUS) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into Trust Finance Indonesia Tbk (-23.5 % 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 Trust Finance Indonesia Tbk (TRUS)?
The free-cash-flow yield on the price is 19.55 %: that much free cash flow Trust Finance Indonesia Tbk produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Trust Finance Indonesia Tbk (TRUS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Trust Finance Indonesia Tbk it is 356.13 IDR per share (as of Sep 24, 2026), against a price of 428.00 IDR. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Trust Finance Indonesia Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TRUS trades above its calculated fair value: price 428.00 IDR, fair value 356.13 IDR, a gap of about −17% (overvalued). 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 TRUS?
No. The price is what the market pays today (428.00 IDR); the fair value is what the company's own numbers justify (356.13 IDR). For Trust Finance Indonesia Tbk the two are 71.87 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Trust Finance Indonesia Tbk worth?
The market values Trust Finance Indonesia Tbk at about 342B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 428.00 IDR; our models calculate a fair value of 356.13 IDR per share.
What do the bullish and bearish scenarios say about TRUS?
Our models span a range for Trust Finance Indonesia Tbk: cautious scenario 356.13 IDR, base 356.13 IDR, optimistic 397.13 IDR per share (as of Sep 24, 2026, price 428.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TRUS?
Trust Finance Indonesia Tbk trades at a price-to-earnings ratio of 15.9 (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 356.13 IDR is built from several models across several years. Other multiples: P/B 0.8, P/S 8.3, EV/EBITDA 6.1.
How solid is the balance sheet of Trust Finance Indonesia Tbk (TRUS)?
Balance-sheet figures for Trust Finance Indonesia Tbk (as of Sep 24, 2026): return on equity 4.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is TRUS from its 52-week high?
Trust Finance Indonesia Tbk trades at 428.00 IDR, about 29% below its 52-week high of 605.00 IDR and 101% above the low of 212.60 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 356.13 IDR is for.
Which stocks are comparable to Trust Finance Indonesia Tbk?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 Trust Finance Indonesia Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 428.00 IDR, calculated fair value 356.13 IDR (−17%), Quality Score 68/100, from 11 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 TRUS calculated?
We run Trust Finance Indonesia Tbk through 11 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 356.13 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 14.0 % above its aggregate fair value. Trust Finance Indonesia Tbk itself currently trades above fair value. 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 Trust Finance Indonesia Tbk (TRUS)?
The closing price on Sep 24, 2026 was 428.00 IDR. Our model-based fair value is 356.13 IDR, about −17% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Trust Finance Indonesia Tbk right now?
The price sits above even our optimistic bull case (397.13 IDR). The favourable scenario is already priced in. Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (356.13 IDR to 397.13 IDR), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Trust Finance Indonesia Tbk (TRUS) come from?
Earnings per share at Trust Finance Indonesia Tbk grew +9.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.8 %, EBIT margin +9.0 %, tax rate +3.4 %, residual (interest, one-offs) −7.4 %. 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 Trust Finance Indonesia Tbk
How large is the market capitalisation of Trust Finance Indonesia Tbk (TRUS)?
The market capitalisation of Trust Finance Indonesia Tbk is 342B IDR (≈ $19.1M). 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 Trust Finance Indonesia Tbk (TRUS)?
The price-to-sales ratio of Trust Finance Indonesia Tbk is 6.66 (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 Trust Finance Indonesia Tbk (TRUS)?
Earnings per share at Trust Finance Indonesia Tbk are 26.92 IDR (price ÷ EPS = P/E 15.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Trust Finance Indonesia Tbk (TRUS)?
The dividend yield of Trust Finance Indonesia Tbk is 3.4% (payout 54.2%). 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 Trust Finance Indonesia Tbk (TRUS)?
The net margin of Trust Finance Indonesia Tbk is 41.9% (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 Trust Finance Indonesia Tbk (TRUS)?
The return on equity (ROE) of Trust Finance Indonesia Tbk is 4.0% (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 Trust Finance Indonesia Tbk (TRUS)?
On an EBIT basis the return on assets of Trust Finance Indonesia Tbk is 7.9% (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 Trust Finance Indonesia Tbk (TRUS)?
The operating margin of Trust Finance Indonesia Tbk is 0.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Trust Finance Indonesia Tbk (TRUS)?
Revenue at Trust Finance Indonesia Tbk is growing −40.2% versus a year earlier (3y avg −2.4%). 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 Trust Finance Indonesia Tbk (TRUS)?
Earnings per share at Trust Finance Indonesia Tbk are growing −98.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Trust Finance Indonesia Tbk (TRUS) hold?
Trust Finance Indonesia Tbk holds more cash than debt, 184B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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