Wijaya Karya Beton (WTON) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Wijaya Karya Beton IDR 122, price IDR 74, upside +64.3%, quality 52 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 56.20 IDR – 285.51 IDR · fair‑value band 113.67 IDR – 130.21 IDR · the 74.00 IDR price screens below the 121.60 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 Wijaya Karya Beton Tbk, together with its subsidiaries provides pre-stressed concrete (PC) products in Indonesia and internationally. The company operates through Concrete, Quarry, and Service segments. It also offers pile products comprising of hollow round and box piles, massive box piles, cylinder pile, and triangular piles.
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PT Wijaya Karya Beton Tbk, together with its subsidiaries provides pre-stressed concrete (PC) products in Indonesia and internationally. The company operates through Concrete, Quarry, and Service segments. It also offers pile products comprising of hollow round and box piles, massive box piles, cylinder pile, and triangular piles. In addition, the company provides PC piles, such as spun, square, and triangular piles; and railway concrete products, such as PC turnout sleepers, catenary poles, concrete level crossing, and slab track; and bridge concrete products. Further, it offers wall concrete product comprising of corrugated concrete sheet pile, flat prestressed concrete sheet pile, flat reinforced concrete sheet pile, and PC wall; and dock components Pile Caps; RC cylinder pipes, such as reinforced box culvert, sabodam modular, reinforced U-ditch, and precast concrete infiltration well products; precast wall, hollow core slab, concrete slab, column, and beams ladders; and maritime concrete products, such as concrete beams, concrete floor slabs breakwaters, modular system precast dock, and tetrapod. Additionally, the company provides fences, concrete underground utility ducting, segment tunneling, precast pier, rigid pavement, floating pontoon, pipe rack, manhole, buttress wall, and ready-mix concrete products. Furthermore, it offers split, screening, and fly ash products; construction, precast concrete delivery, and concrete installation services. It also provides engineering, procurement, construction, piling, post-tension stressing, and launcher gantry services, as well as innerbore system, post-tensioning system, and launching gantry installation. The company was founded in 1997 and is headquartered in Jakarta, Indonesia. PT Wijaya Karya Beton Tbk operates as a subsidiary of PT Wijaya Karya (Persero) Tbk.
Stock analysis
Wijaya Karya Beton (WTON) currently trades at 74.00 IDR, while our model-based Fair Value estimate is 121.60 IDR, implying the stock looks roughly 39.1% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 278.88 IDR per share, and 20 of the 24 models we run sit above the 74.00 IDR price.
Bear case: the Earnings-Based group reads lowest at 50.20 IDR, and 4 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 113.67 IDR (bear) to 130.21 IDR (bull), the price of 74.00 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 52/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Wijaya Karya Beton reported revenue of 3.6T IDR in FY2025 versus 4.3T IDR in FY2021, a compound −4.5%/yr. Reported net income was 40.0B IDR in FY2025, compounding −16.6%/yr from FY2021.
Key figures
Market cap 645B IDR (≈ $36.0M) · P/E ratio 16.0 · P/S ratio 0.18 · EPS (TTM) 4.63 IDR · Dividend yield 0.6% · Net margin 1.1% · Return on equity 0.1% · Return on assets (EBIT) 2.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 64%, WTON screens cheaper than that median.
Fair Value models
Bear 113.67 IDRFair Value 121.60 IDRBull 130.21 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 (3.06 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
−26.8%
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.
−15.8%
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.
−5.7%
Start year 2020 (pandemic). Over 10 years: +3.1% a year
Revenue growth 14 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.
+5.8%
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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.
−20.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−20.8%
Dividend (yield on the price)0.6%
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.−21% vs −18%, 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.4% → 2%
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).
−12.0%
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 −14.2% a year for the price.
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.Building Materials · 258 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+60% · Top 25%
Profitability
Return on equity (TTM)0% · Below median
Return on assets1% · Below median
Net margin (TTM)1% · Below median
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth16% · Top 25%
Dividend yield (TTM)0.6% · Bottom 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Building Materials 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.
Cite: Fair Value Calculator (2026). "Wijaya Karya Beton Fair Value". https://www.fairvalue-calculator.com/stock/WTON
Frequently asked questions
Is Wijaya Karya Beton (WTON) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 121.60 IDR versus a price of 74.00 IDR, about +64% upside (undervalued).
What is the fair value of WTON?
Our model-based fair value for Wijaya Karya Beton is 121.60 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 74.00 IDR.
What is the quality score of WTON?
Wijaya Karya Beton has a Quality Score of 52/100. 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 Wijaya Karya Beton (WTON)?
Our model-based price target is the fair value of 121.60 IDR (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 113.67 IDR, optimistic scenario 130.21 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Wijaya Karya Beton stock forecast for 2026?
Our models put fair value at 121.60 IDR, about +64% upside versus a price of 74.00 IDR (undervalued). Cautious scenario 113.67 IDR, optimistic scenario 130.21 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Wijaya Karya Beton (WTON)?
Wijaya Karya Beton reported trailing-twelve-month revenue of about 3.5T IDR (latest available figure, as of Sep 24, 2026).
Does Wijaya Karya Beton pay a dividend?
Wijaya Karya Beton currently shows a dividend yield of about 0.62% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Wijaya Karya Beton (WTON)?
For today's price to be fair in a discounted-cash-flow model, Wijaya Karya Beton would have to grow free cash flow by -12.0 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -5.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of WTON use?
Our models discount Wijaya Karya Beton at 10.5 %: a base by market capitalisation (nano), damped by beta 0.26, 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 Wijaya Karya Beton that is -12.0 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Wijaya Karya Beton (WTON) delivered so far?
Over the past 5 years revenue at Wijaya Karya Beton grew -5.7 % a year. The price currently implies -12.0 % 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 Wijaya Karya Beton (WTON) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Wijaya Karya Beton (-12.0 % 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 Wijaya Karya Beton (WTON)?
The free-cash-flow yield on the price is 12.27 %: that much free cash flow Wijaya Karya Beton produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Wijaya Karya Beton (WTON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wijaya Karya Beton it is 121.60 IDR per share (as of Sep 24, 2026), against a price of 74.00 IDR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Wijaya Karya Beton stock overvalued or undervalued in 2026?
As of Sep 24, 2026, WTON trades below its calculated fair value: price 74.00 IDR, fair value 121.60 IDR, a gap of about +64% (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 WTON?
No. The price is what the market pays today (74.00 IDR); the fair value is what the company's own numbers justify (121.60 IDR). For Wijaya Karya Beton the two are 47.60 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Wijaya Karya Beton worth?
The market values Wijaya Karya Beton at about 645B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 74.00 IDR; our models calculate a fair value of 121.60 IDR per share.
What do the bullish and bearish scenarios say about WTON?
Our models span a range for Wijaya Karya Beton: cautious scenario 113.67 IDR, base 121.60 IDR, optimistic 130.21 IDR per share (as of Sep 24, 2026, price 74.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WTON?
Wijaya Karya Beton trades at a price-to-earnings ratio of 16.0 (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 121.60 IDR is built from several models across several years. Other multiples: P/B 0.2, P/S 0.2, EV/EBITDA 1.5.
How solid is the balance sheet of Wijaya Karya Beton (WTON)?
Balance-sheet figures for Wijaya Karya Beton (as of Sep 24, 2026): return on equity 0.1%, debt of 0.04 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is WTON from its 52-week high?
Wijaya Karya Beton trades at 74.00 IDR, about 30% below its 52-week high of 105.41 IDR and 19% above the low of 62.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 121.60 IDR is for.
Which stocks are comparable to Wijaya Karya Beton?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement 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 Wijaya Karya Beton stock attractive at the current price?
The data as of Sep 24, 2026: price 74.00 IDR, calculated fair value 121.60 IDR (+64%), Quality Score 52/100, from 24 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 WTON calculated?
We run Wijaya Karya Beton through 24 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 121.60 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. Wijaya Karya Beton currently trades 64 % 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 Wijaya Karya Beton (WTON)?
The closing price on Sep 24, 2026 was 74.00 IDR. Our model-based fair value is 121.60 IDR, about +64% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wijaya Karya Beton right now?
The price is below even our cautious bear case (113.67 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. The models converge in a tight band (113.67 IDR to 130.21 IDR), unusually little disagreement for a valuation.
Where does the earnings growth of Wijaya Karya Beton (WTON) come from?
Earnings per share at Wijaya Karya Beton grew −17.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.4 %, EBIT margin −11.2 %, tax rate −1.7 %, residual (interest, one-offs) −8.4 %. 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 Wijaya Karya Beton
How large is the market capitalisation of Wijaya Karya Beton (WTON)?
The market capitalisation of Wijaya Karya Beton is 645B IDR (≈ $36.0M). 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 Wijaya Karya Beton (WTON)?
The price-to-sales ratio of Wijaya Karya Beton is 0.18 (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 Wijaya Karya Beton (WTON)?
Earnings per share at Wijaya Karya Beton are 4.63 IDR (price ÷ EPS = P/E 16.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wijaya Karya Beton (WTON)?
The dividend yield of Wijaya Karya Beton is 0.6% (payout 9.9%). 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 Wijaya Karya Beton (WTON)?
The net margin of Wijaya Karya Beton is 1.1% (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 Wijaya Karya Beton (WTON)?
The return on equity (ROE) of Wijaya Karya Beton is 0.1% (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 Wijaya Karya Beton (WTON)?
On an EBIT basis the return on assets of Wijaya Karya Beton is 2.5% (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 Wijaya Karya Beton (WTON)?
The operating margin of Wijaya Karya Beton is 1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wijaya Karya Beton (WTON)?
Revenue at Wijaya Karya Beton is growing +15.5% versus a year earlier (3y avg −15.8%). 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 Wijaya Karya Beton (WTON)?
Earnings per share at Wijaya Karya Beton are growing +17.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Wijaya Karya Beton (WTON) hold?
Wijaya Karya Beton holds more cash than debt, 199B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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