PT Kalbe Farma Tbk.

DB:LCLA Stock Report

Market Cap: €3.7b

Kalbe Farma Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: LCLA (€0.07) is trading above our estimate of fair value (€0.03)

Significantly Below Fair Value: LCLA is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for LCLA. This is calculated by dividing LCLA's market cap by their current earnings.
What is LCLA's PE Ratio?
PE Ratio19.9x
EarningsRp3.08t
Market CapRp61.15t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for LCLA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23x
DMP Dermapharm Holding
23.8x17.3%€2.2b
PSG PharmaSGP Holding
15.8x13.6%€297.4m
MRK Merck KGaA
22.6x10.3%€60.9b
2FJ0 Pierrel
29.9xn/a€92.8m
LCLA Kalbe Farma
19.9x9.6%€61.1t

Price-To-Earnings vs Peers: LCLA is good value based on its Price-To-Earnings Ratio (19.9x) compared to the peer average (23x).

Price to Earnings Ratio vs Industry

How does LCLA's PE Ratio compare vs other companies in the European Pharmaceuticals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
LCLA 19.9xIndustry Avg. 19.4xNo. of Companies11PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: LCLA is expensive based on its Price-To-Earnings Ratio (19.9x) compared to the European Pharmaceuticals industry average (19.4x).

Price to Earnings Ratio vs Fair Ratio

What is LCLA'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.

LCLA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate LCLA's Price-To-Earnings Fair Ratio for valuation analysis.

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 LCLA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.072
€0.10
+44.4%
8.8%€0.13€0.092n/a15
Dec ’25€0.087
€0.11
+21.1%
8.6%€0.13€0.093n/a15
Nov ’25€0.084
€0.11
+25.8%
10.2%€0.13€0.091n/a15
Oct ’25€0.094
€0.10
+10.7%
10.2%€0.13€0.091n/a15
Sep ’25n/a
€0.10
0%
17.6%€0.16€0.089n/a14
Aug ’25n/a
€0.10
0%
17.4%€0.16€0.086n/a15
Jul ’25n/a
€0.10
0%
17.4%€0.16€0.086n/a15
Jun ’25n/a
€0.10
0%
17.1%€0.16€0.087n/a15
May ’25n/a
€0.10
0%
16.4%€0.16€0.089n/a15
Apr ’25n/a
€0.11
0%
15.8%€0.16€0.092n/a15
Mar ’25n/a
€0.11
0%
15.8%€0.16€0.092n/a15
Feb ’25n/a
€0.11
0%
17.0%€0.16€0.094n/a15
Jan ’25n/a
€0.12
0%
17.3%€0.17€0.095€0.06516
Dec ’24n/a
€0.12
0%
17.3%€0.17€0.095€0.08716
Nov ’24n/a
€0.13
0%
13.7%€0.17€0.10€0.08415
Oct ’24n/a
€0.14
0%
11.1%€0.17€0.10€0.09416
Sep ’24n/a
€0.14
0%
10.3%€0.17€0.10n/a17
Aug ’24n/a
€0.15
0%
6.4%€0.17€0.13n/a17
Jul ’24n/a
€0.15
0%
6.4%€0.17€0.13n/a17
Jun ’24n/a
€0.15
0%
6.7%€0.17€0.13n/a18
May ’24n/a
€0.14
0%
7.0%€0.17€0.13n/a18
Apr ’24n/a
€0.14
0%
7.0%€0.17€0.13n/a18
Mar ’24n/a
€0.14
0%
7.2%€0.17€0.13n/a17
Feb ’24n/a
€0.14
0%
6.8%€0.15€0.12n/a17
Jan ’24n/a
€0.13
0%
9.1%€0.15€0.11n/a18

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/05 02:39
End of Day Share Price 2025/01/03 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 Kalbe Farma Tbk. is covered by 37 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Helmy KristantoBNP Paribas Securities (Asia)
Swati ChopraBofA Global Research
Jason ChandraCGS International