PT Indocement Tunggal Prakarsa Tbk

DB:ITP Stock Report

Market Cap: €1.3b

Indocement Tunggal Prakarsa Valuation

Is ITP 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 ITP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€0.50
Fair Value
27.2% undervalued intrinsic discount
17
Number of Analysts

Below Fair Value: ITP (€0.36) is trading below our estimate of fair value (€0.5)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ITP. This is calculated by dividing ITP's market cap by their current earnings.
What is ITP's PE Ratio?
PE Ratio12.2x
EarningsRp1.74t
Market CapRp21.20t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ITP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.9x
STO3 Sto SE KGaA
10.7x3.5%€709.4m
HEI Heidelberg Materials
12.1x9.4%€22.5b
SDF K+S
75.9x57.3%€1.9b
ACT AlzChem Group
13x12.8%€651.3m
ITP Indocement Tunggal Prakarsa
12.2x5.3%€21.2t

Price-To-Earnings vs Peers: ITP is good value based on its Price-To-Earnings Ratio (12.2x) compared to the peer average (27.9x).

Price to Earnings Ratio vs Industry

How does ITP's PE Ratio compare vs other companies in the European Basic Materials Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ITP 12.2xIndustry Avg. 13.2xNo. of Companies8PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ITP is good value based on its Price-To-Earnings Ratio (12.2x) compared to the European Basic Materials industry average (13.2x).

Price to Earnings Ratio vs Fair Ratio

What is ITP'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.

ITP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.2x
Fair PE Ratio16.1x

Price-To-Earnings vs Fair Ratio: ITP is good value based on its Price-To-Earnings Ratio (12.2x) compared to the estimated Fair Price-To-Earnings Ratio (16.1x).

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 ITP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.36
€0.53
+44.7%
20.1%€0.81€0.42n/a17
Jan ’26€0.43
€0.52
+20.9%
20.2%€0.80€0.42n/a17
Dec ’25€0.43
€0.53
+23.3%
20.1%€0.81€0.42n/a17
Nov ’25€0.40
€0.52
+29.8%
21.8%€0.79€0.34n/a15
Oct ’25€0.38
€0.52
+35.2%
20.3%€0.75€0.34n/a16
Sep ’25€0.39
€0.51
+30.0%
20.3%€0.74€0.33n/a16
Aug ’25€0.43
€0.54
+26.5%
22.8%€0.77€0.32n/a17
Jul ’25€0.40
€0.56
+39.5%
21.7%€0.77€0.32n/a18
Jun ’25€0.35
€0.57
+62.2%
20.6%€0.77€0.32n/a18
May ’25€0.43
€0.66
+54.9%
12.0%€0.78€0.50n/a18
Apr ’25€0.49
€0.69
+40.1%
12.5%€0.83€0.50n/a18
Mar ’25€0.52
€0.70
+36.9%
12.5%€0.85€0.50n/a18
Feb ’25€0.52
€0.70
+35.8%
13.3%€0.85€0.49n/a18
Jan ’25€0.53
€0.72
+35.9%
12.8%€0.85€0.49€0.4319
Dec ’24€0.54
€0.74
+37.3%
12.6%€0.87€0.50€0.4319
Nov ’24€0.56
€0.72
+29.9%
12.6%€0.83€0.50€0.4016
Oct ’24€0.59
€0.76
+29.4%
9.3%€0.86€0.56€0.3818
Sep ’24€0.62
€0.75
+20.7%
9.9%€0.84€0.55€0.3918
Aug ’24€0.63
€0.74
+17.5%
12.4%€0.86€0.55€0.4317
Jul ’24€0.59
€0.74
+25.5%
12.4%€0.86€0.55€0.4017
Jun ’24€0.60
€0.75
+25.4%
12.2%€0.87€0.56€0.3517
May ’24€0.63
€0.76
+20.3%
12.3%€0.86€0.56€0.4315
Apr ’24€0.63
€0.75
+20.1%
12.6%€0.92€0.55€0.4916
Mar ’24€0.67
€0.71
+5.9%
14.4%€0.92€0.56€0.5216
Feb ’24€0.59
€0.70
+17.5%
14.4%€0.90€0.54€0.5217
Jan ’24€0.58
€0.72
+23.3%
14.7%€0.92€0.56€0.5317
Analyst Price Target
Consensus Narrative from 17 Analysts
€0.51
Fair Value
28.4% undervalued intrinsic discount
17
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/12 02:36
End of Day Share Price 2025/01/10 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 here.

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 .

Analyst Sources

PT Indocement Tunggal Prakarsa Tbk is covered by 44 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kim Kwie SjamsudinAuerbach Grayson
Helmy KristantoBNP Paribas Securities (Asia)
Swati ChopraBofA Global Research