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Wintermar Offshore Marine Tbk (WINS) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Wintermar Offshore Marine Tbk stock IDR 617, price IDR 525, upside +17.6%, quality 56 out of 100. Rating: undervalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials ID · ISIN ID1000117500

WO Wintermar Offshore Marine Tbk logo Thin data Nov 6, 2026

Wintermar Offshore Marine Tbk

WINS · JK
Undervalued, in an uptrend

The stock costs 15% less than our calculation considers fair.

Fair value 617.18 IDR · Undervalued
Highly profitable · 23.0% net margin (TTM)
Low debt
Generates free cash flow over the last twelve months
Ranks above peers (11/13)
Revenue last quarter +25% vs. a year ago.
Quality 56/100
Expensive Growth (revenue 5y +13.1 %/yr in USD)
Wide moat 75/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

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Price vs Fair Value

620.00 IDR 100.56 IDR Fair Value 617.18 IDR Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range 100.56 IDR – 620.00 IDR · fair‑value band 486.09 IDR – 690.54 IDR · the 525.00 IDR price screens below the 617.18 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.

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Company profile

PT Wintermar Offshore Marine Tbk provides supporting services for the offshore transportation for the oil and gas industry in Indonesia, Malaysia, Brunei, Myanmar, Thailand, India, Vietnam, the Philippines, the Middle East, and Taiwan.

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The company operates through three segments: Charter of Own Vessels, Charter of Third Party Vessels, and Other Services.

Its fleet includes platform supply vessels, anchor handling tug supply vessels, anchor handling tug vessels, fast utility vessels, fast multi-purpose supply vessels, azimuth stern drive tugs, utility vessels, and heavy load barges.

The company also offers rig moving and anchor handling, crew transport and rig supply, firefighting and emergency rescue, air diving and remotely operated vehicle support, offshore windfarm installation support, pipe tailing support, seismic survey support, cable laying support, and harbour towage services.

The company was formerly known as PT Swakarya Mulia Shipping and changed its name to PT Wintermar Offshore Marine Tbk in September 2010. PT Wintermar Offshore Marine Tbk was founded in 1970 and is based in Jakarta, Indonesia.

Stock analysis

Wintermar Offshore Marine Tbk (WINS) currently trades at 525.00 IDR, while our model-based Fair Value estimate is 617.18 IDR, implying the stock looks roughly 15% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 860.08 IDR per share, and 7 of the 14 models we run sit above the 525.00 IDR price.

Bear case: the Asset-Based group reads lowest at 168.77 IDR, and 7 of the 14 models stay below the price. Data coverage for this calculation is low.

Scenario range: 486.09 IDR (bear) to 690.54 IDR (bull), the price of 525.00 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 56/100 (solid quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Wintermar Offshore Marine Tbk reported revenue of $80.3M in FY2025 versus $42.3M in FY2021, a compound +17.4%/yr. Reported net income was $19.8M in FY2025, compounding +251.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 2.4T IDR (≈ $133M) Micro · P/E ratio 6.5 · P/S ratio 1.61 · EPS (TTM) 80.28 IDR · Dividend yield 1.4% · Net margin 24.6% · Return on equity 16.4% · Return on assets (EBIT) 6.0% (5-year average).

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 15% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 18%, WINS screens cheaper than that median.

Fair Value models

Bear 486.09 IDR Fair Value 617.18 IDR Bull 690.54 IDR
Price 525.00 IDR · Upside +17.6%
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 (68.84 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.
Best data coverage
Residual Income 565.65 IDR 615.63 IDR 688.80 IDR 76
EPV 423.49 IDR 467.02 IDR 501.86 IDR 73
ROIC Compounder 423.49 IDR 467.02 IDR 501.86 IDR 71
All 14 models by family
Earnings-Based
Graham-Dodd 541.94 IDR 780.81 IDR 918.39 IDR 67
EPV 423.49 IDR 467.02 IDR 501.86 IDR 73
Dividend Discount
Gordon GGM 33.72 IDR 36.63 IDR 40.18 IDR 69
DDM Multi-Stage 33.72 IDR 39.64 IDR 46.13 IDR 67
Multiples
P/E Multiple 836.81 IDR 1,116 IDR 1,395 IDR 63
P/S Multiple 203.34 IDR 271.11 IDR 338.89 IDR 57
P/B Multiple 935.10 IDR 1,247 IDR 1,559 IDR 55
EV/EBIT 484.87 IDR 647.19 IDR 809.50 IDR 65
EV/EBITDA 479.12 IDR 639.53 IDR 799.93 IDR 67
EV/Revenue 187.69 IDR 269.03 IDR 350.36 IDR 53
Asset-Based
NCAV (Graham) 111.39 IDR 168.77 IDR 210.96 IDR 54
Economic Profit
Residual Income 565.65 IDR 615.63 IDR 688.80 IDR 76
ROIC Compounder 423.49 IDR 467.02 IDR 501.86 IDR 71
Growth Earnings
Growth-Adj P/E 602.06 IDR 860.08 IDR 1,118 IDR 67

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Quality Score breakdown

Overall quality 56/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 46
How much profit the company makes from its sales and capital
Quality Growth 44
Are margins and returns getting better?
Cashflow 53
Do the profits arrive as real cash?
Financial strength 87
Debt, balance sheet and risk of trouble
Investment 26
Does it invest with discipline instead of growing at any price?
Low Volatility 64
How calm the share price moves, does not count
Price momentum 52
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 58
Distance to the 52-week high, does not count
New shares 60
Buys back shares or issues new ones?

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Revenue & earnings trend

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. 54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−2.5%
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.
+9.6%
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.
+13.1%
Start year 2020 (pandemic). Over 10 years: −2.2% a year
Revenue growth 18 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.
−36.2%
Profit margin (trend) ⓘ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.
−10.4% (2020) → 28.7% (2025)

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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.Marine Shipping · 220 stocks

Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 56 · Above median
Fair Value upside +17.6% · Above median
Profitability
Return on equity (12 months) 16.4% · Top 25%
Return on assets 10.1% · Top 25%
Net margin (12 months) 32.9% · Top 25%
Operating margin (12 months) 38.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 25.1% · Above median
Dividend yield (12 months) 1.4% · Below median
Balance sheet
Debt / equity 0.19× · Below median

Valuation Multiplesvs Marine Shipping median · lower = cheaper

P/E (12 months) 6.5× · Cheapest 25%
P/B 0.77× · Cheaper than median
P/S (12 months) 2.02× · Pricier than median
EV/EBITDA 3.4× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)57 · sector 45
FUTURE (revenue growth)100 · sector 60
PAST (return on equity)65 · sector 36
HEALTH (low debt)91 · sector 89
DIVIDEND (yield)27 · sector 61

Context: sector, industry, market

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

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Wintermar Offshore Marine Tbk: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Wintermar Offshore Marine Tbk Fair Value". https://www.fairvalue-calculator.com/stock/WINS

Frequently asked questions

Is Wintermar Offshore Marine Tbk (WINS) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 617.18 IDR versus a price of 525.00 IDR, about +18% upside (undervalued).
What is the fair value of WINS?
Our model-based fair value for Wintermar Offshore Marine Tbk is 617.18 IDR (as of Nov 6, 2026), built from audited fundamentals. The current price: 525.00 IDR.
What is the quality score of WINS?
Wintermar Offshore Marine Tbk has a Quality Score of 56/100. 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 Wintermar Offshore Marine Tbk (WINS)?
Our model-based price target is the fair value of 617.18 IDR (as of Nov 6, 2026) from 14 valuation models. Cautious scenario 486.09 IDR, optimistic scenario 690.54 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Wintermar Offshore Marine Tbk stock forecast for 2026?
Our models put fair value at 617.18 IDR, about +18% upside versus a price of 525.00 IDR (undervalued). Cautious scenario 486.09 IDR, optimistic scenario 690.54 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Wintermar Offshore Marine Tbk (WINS)?
Wintermar Offshore Marine Tbk reported trailing-twelve-month revenue of about $94.4M (latest available figure, as of Nov 6, 2026).
Does Wintermar Offshore Marine Tbk pay a dividend?
Wintermar Offshore Marine Tbk currently shows a dividend yield of 1.36% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Wintermar Offshore Marine Tbk (WINS)?
Wintermar Offshore Marine Tbk has a dividend yield of 1.4%.
What is the intrinsic value of Wintermar Offshore Marine Tbk (WINS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wintermar Offshore Marine Tbk it is 617.18 IDR per share (as of Nov 6, 2026), against a price of 525.00 IDR. It is the blended result of 14 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Wintermar Offshore Marine Tbk stock overvalued or undervalued in 2026?
As of Nov 6, 2026, WINS trades below its calculated fair value: price 525.00 IDR, fair value 617.18 IDR, a gap of about +18% (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 WINS?
No. The price is what the market pays today (525.00 IDR); the fair value is what the company's own numbers justify (617.18 IDR). For Wintermar Offshore Marine Tbk the two are 92.18 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Wintermar Offshore Marine Tbk worth?
The market values Wintermar Offshore Marine Tbk at about 2.4T IDR (market capitalisation, as of Nov 6, 2026). Per share that is 525.00 IDR; our models calculate a fair value of 617.18 IDR per share.
What do the bullish and bearish scenarios say about WINS?
Our models span a range for Wintermar Offshore Marine Tbk: cautious scenario 486.09 IDR, base 617.18 IDR, optimistic 690.54 IDR per share (as of Nov 6, 2026, price 525.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WINS?
Wintermar Offshore Marine Tbk trades at a price-to-earnings ratio of 6.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 617.18 IDR is built from several models across several years. Other multiples: P/B 0.8, P/S 2.0, EV/EBITDA 3.4.
How solid is the balance sheet of Wintermar Offshore Marine Tbk (WINS)?
Balance-sheet figures for Wintermar Offshore Marine Tbk (as of Nov 6, 2026): return on equity 16.4%, debt of 0.19 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is WINS from its 52-week high?
Wintermar Offshore Marine Tbk trades at 525.00 IDR, about 15% below its 52-week high of 620.00 IDR and 29% above the low of 408.31 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 617.18 IDR is for.
Which stocks are comparable to Wintermar Offshore Marine Tbk?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 Wintermar Offshore Marine Tbk stock attractive at the current price?
The data as of Nov 6, 2026: price 525.00 IDR, calculated fair value 617.18 IDR (+18%), Quality Score 56/100, from 14 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 WINS calculated?
We run Wintermar Offshore Marine Tbk through 14 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 617.18 IDR builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Wintermar Offshore Marine Tbk currently trades 15% 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 Wintermar Offshore Marine Tbk (WINS)?
The closing price on Nov 6, 2026 was 525.00 IDR. Our model-based fair value is 617.18 IDR, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wintermar Offshore Marine Tbk right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Wintermar Offshore Marine Tbk

How large is the market capitalisation of Wintermar Offshore Marine Tbk (WINS)?
The market capitalisation of Wintermar Offshore Marine Tbk is 2.4T IDR (≈ $133M). 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 Wintermar Offshore Marine Tbk (WINS)?
The price-to-sales ratio of Wintermar Offshore Marine Tbk is 1.61 (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 Wintermar Offshore Marine Tbk (WINS)?
Earnings per share at Wintermar Offshore Marine Tbk are 80.28 IDR (price ÷ EPS = P/E 6.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wintermar Offshore Marine Tbk (WINS)?
The dividend yield of Wintermar Offshore Marine Tbk is 1.4% (payout 8.9%). 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 Wintermar Offshore Marine Tbk (WINS)?
The net margin of Wintermar Offshore Marine Tbk is 24.6% (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 Wintermar Offshore Marine Tbk (WINS)?
The return on equity (ROE) of Wintermar Offshore Marine Tbk is 16.4% (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 Wintermar Offshore Marine Tbk (WINS)?
On an EBIT basis the return on assets of Wintermar Offshore Marine Tbk is 6.0% (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 Wintermar Offshore Marine Tbk (WINS)?
The operating margin of Wintermar Offshore Marine Tbk is 38.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wintermar Offshore Marine Tbk (WINS)?
Revenue at Wintermar Offshore Marine Tbk is growing +25.1% versus a year earlier (3y avg +9.6%). 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 Wintermar Offshore Marine Tbk (WINS)?
Earnings per share at Wintermar Offshore Marine Tbk are growing −31.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Wintermar Offshore Marine Tbk (WINS) generate?
The free cash flow of Wintermar Offshore Marine Tbk is −$771K (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 Wintermar Offshore Marine Tbk (WINS) carry?
The net debt of Wintermar Offshore Marine Tbk is $741K (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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