PT TIMAH Tbk

IDX:TINS Stock Report

Market Cap: Rp9.6t

TIMAH Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: TINS (IDR1295) is trading above our estimate of fair value (IDR752.17)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TINS. This is calculated by dividing TINS's market cap by their current earnings.
What is TINS's PE Ratio?
PE Ratio17.6x
EarningsRp546.54b
Market CapRp9.64t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TINS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34.5x
HILL Hillcon
28.6x25.8%Rp6.2t
INCO Vale Indonesia
26.8x28.4%Rp38.8t
NCKL Trimegah Bangun Persada
9x19.8%Rp51.1t
MBMA Merdeka Battery Materials
73.6x56.1%Rp55.1t
TINS TIMAH
17.6x32.3%Rp9.6t

Price-To-Earnings vs Peers: TINS is good value based on its Price-To-Earnings Ratio (17.6x) compared to the peer average (34.5x).

Price to Earnings Ratio vs Industry

How does TINS's PE Ratio compare vs other companies in the ID Metals and Mining Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GGRP Gunung Raja Paksi
2.6xn/aUS$161.76m
ISSP Steel Pipe Industry of Indonesia
4xn/aUS$125.52m
DKFT Central Omega Resources
4.4xn/aUS$79.20m
No more companies available in this PE range
TINS 17.6xIndustry Avg. 18.1xNo. of Companies5PE020406080100+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TINS is good value based on its Price-To-Earnings Ratio (17.6x) compared to the ID Metals and Mining industry average (18.1x).

Price to Earnings Ratio vs Fair Ratio

What is TINS'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.

TINS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.6x
Fair PE Ratio27.3x

Price-To-Earnings vs Fair Ratio: TINS is good value based on its Price-To-Earnings Ratio (17.6x) compared to the estimated Fair Price-To-Earnings Ratio (27.3x).

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 TINS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp1,295.00
Rp1,950.00
+50.6%
17.9%Rp2,300.00Rp1,600.00n/a2
Nov ’25Rp1,265.00
Rp1,500.00
+18.6%
6.7%Rp1,600.00Rp1,400.00n/a2
Oct ’25Rp1,180.00
Rp1,500.00
+27.1%
6.7%Rp1,600.00Rp1,400.00n/a2
Sep ’25Rp1,000.00
Rp1,350.00
+35.0%
3.7%Rp1,400.00Rp1,300.00n/a2
Aug ’25Rp975.00
Rp1,350.00
+38.5%
3.7%Rp1,400.00Rp1,300.00n/a2
Jul ’25Rp925.00
Rp1,200.00
+29.7%
16.7%Rp1,400.00Rp1,000.00n/a2
Jun ’25Rp895.00
Rp1,200.00
+34.1%
16.7%Rp1,400.00Rp1,000.00n/a2
May ’25Rp910.00
Rp1,135.00
+24.7%
23.3%Rp1,400.00Rp870.00n/a2
Apr ’25Rp815.00
Rp1,485.00
+82.2%
41.4%Rp2,100.00Rp870.00n/a2
Mar ’25Rp575.00
Rp1,320.00
+129.6%
59.1%Rp2,100.00Rp540.00n/a2
Feb ’25Rp580.00
Rp1,320.00
+127.6%
59.1%Rp2,100.00Rp540.00n/a2
Jan ’25Rp645.00
Rp1,320.00
+104.7%
59.1%Rp2,100.00Rp540.00n/a2
Dec ’24Rp650.00
Rp1,325.00
+103.8%
58.5%Rp2,100.00Rp550.00n/a2
Nov ’24Rp650.00
Rp1,325.00
+103.8%
58.5%Rp2,100.00Rp550.00Rp1,265.002
Oct ’24Rp790.00
Rp1,325.00
+67.7%
58.5%Rp2,100.00Rp550.00Rp1,180.002
Sep ’24Rp890.00
Rp1,250.00
+40.4%
20.0%Rp1,500.00Rp1,000.00Rp1,000.002
Aug ’24Rp925.00
Rp1,250.00
+35.1%
20.0%Rp1,500.00Rp1,000.00Rp975.002
Jul ’24Rp885.00
Rp1,250.00
+41.2%
20.0%Rp1,500.00Rp1,000.00Rp925.002
Jun ’24Rp930.00
Rp1,250.00
+34.4%
20.0%Rp1,500.00Rp1,000.00Rp895.002
May ’24Rp1,015.00
Rp1,250.00
+23.2%
20.0%Rp1,500.00Rp1,000.00Rp910.002
Apr ’24Rp1,030.00
Rp1,475.00
+43.2%
1.7%Rp1,500.00Rp1,450.00Rp815.002
Mar ’24Rp1,185.00
Rp1,775.00
+49.8%
18.3%Rp2,100.00Rp1,450.00Rp575.002
Feb ’24Rp1,270.00
Rp1,775.00
+39.8%
18.3%Rp2,100.00Rp1,450.00Rp580.002
Jan ’24Rp1,170.00
Rp1,775.00
+51.7%
18.3%Rp2,100.00Rp1,450.00Rp645.002
Dec ’23Rp1,225.00
Rp1,583.33
+29.3%
24.0%Rp2,100.00Rp1,200.00Rp650.003
Nov ’23Rp1,325.00
Rp1,611.25
+21.6%
19.9%Rp2,100.00Rp1,200.00Rp650.004

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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