PT Indofood Sukses Makmur Tbk

DB:ISM Stock Report

Market Cap: €4.1b

Indofood Sukses Makmur Valuation

Is ISM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ISM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€1.35
Fair Value
66.8% undervalued intrinsic discount
14
Number of Analysts

Below Fair Value: ISM (€0.45) is trading below our estimate of fair value (€1.35)

Significantly Below Fair Value: ISM is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ISM?

Key metric: As ISM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ISM. This is calculated by dividing ISM's market cap by their current earnings.
What is ISM's PE Ratio?
PE Ratio7.1x
EarningsRp9.83t
Market CapRp70.24t

Price to Earnings Ratio vs Peers

How does ISM's PE Ratio compare to its peers?

The above table shows the PE ratio for ISM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.1x
SZU Südzucker
47.2x89.9%€2.2b
SSH Südwestdeutsche Salzwerke
13.8xn/a€551.6m
NLM FRoSTA
16.5xn/a€565.4m
SMB Schwälbchen Molkerei Jakob Berz
6.9xn/a€59.7m
ISM Indofood Sukses Makmur
7.1x10.5%€70.2t

Price-To-Earnings vs Peers: ISM is good value based on its Price-To-Earnings Ratio (7.1x) compared to the peer average (21.1x).

Price to Earnings Ratio vs Industry

How does ISM's PE Ratio compare vs other companies in the European Food Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ISM 7.1xIndustry Avg. 14.1xNo. of Companies18PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ISM is good value based on its Price-To-Earnings Ratio (7.1x) compared to the European Food industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is ISM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ISM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.1x
Fair PE Ratio32x

Price-To-Earnings vs Fair Ratio: ISM is good value based on its Price-To-Earnings Ratio (7.1x) compared to the estimated Fair Price-To-Earnings Ratio (32x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ISM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.45
€0.54
+19.5%
16.7%€0.74€0.39n/a14
Feb ’26€0.44
€0.54
+21.4%
16.7%€0.75€0.39n/a14
Jan ’26€0.44
€0.54
+23.3%
15.9%€0.72€0.40n/a14
Dec ’25€0.44
€0.54
+23.5%
16.1%€0.72€0.40n/a14
Nov ’25€0.45
€0.49
+9.1%
17.9%€0.69€0.37n/a14
Oct ’25€0.40
€0.48
+20.4%
18.7%€0.70€0.38n/a14
Sep ’25€0.38
€0.48
+26.4%
18.1%€0.69€0.37n/a14
Aug ’25€0.33
€0.46
+38.9%
16.1%€0.67€0.35n/a14
Jul ’25€0.34
€0.46
+34.8%
16.1%€0.67€0.35n/a14
Jun ’25€0.35
€0.47
+32.6%
16.0%€0.68€0.36n/a14
May ’25€0.35
€0.49
+39.7%
16.0%€0.69€0.40n/a14
Apr ’25€0.39
€0.50
+29.6%
15.9%€0.69€0.40n/a14
Mar ’25€0.37
€0.51
+38.3%
13.8%€0.70€0.42n/a14
Feb ’25€0.36
€0.50
+40.0%
12.9%€0.68€0.41€0.4415
Jan ’25€0.35
€0.52
+48.3%
13.3%€0.69€0.42€0.4414
Dec ’24€0.36
€0.52
+45.1%
13.3%€0.69€0.42€0.4414
Nov ’24€0.37
€0.53
+43.0%
11.6%€0.69€0.47€0.4513
Oct ’24€0.39
€0.54
+38.7%
13.0%€0.71€0.42€0.4013
Sep ’24€0.41
€0.54
+33.8%
12.5%€0.71€0.42€0.3814
Aug ’24€0.44
€0.51
+16.7%
9.4%€0.59€0.41€0.3313
Jul ’24€0.43
€0.54
+25.1%
11.4%€0.66€0.42€0.3413
Jun ’24€0.42
€0.54
+29.4%
10.7%€0.68€0.43€0.3514
May ’24€0.41
€0.53
+26.8%
11.1%€0.66€0.42€0.3514
Apr ’24€0.36
€0.53
+47.7%
10.4%€0.67€0.42€0.3914
Mar ’24€0.38
€0.54
+40.2%
11.7%€0.67€0.38€0.3715
Feb ’24€0.38
€0.54
+39.5%
11.7%€0.67€0.38€0.3615
Analyst Price Target
Consensus Narrative from 14 Analysts
€0.51
Fair Value
12.5% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/19 23:07
End of Day Share Price 2025/02/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PT Indofood Sukses Makmur Tbk is covered by 31 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Elvira TjandrawinataBNP Paribas Securities (Asia)
Swati ChopraBofA Global Research
Irenne AchmadCGS International