PT Sarana Menara Nusantara Tbk.

IDX:TOWR Stock Report

Market Cap: Rp36.0t

Sarana Menara Nusantara Valuation

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

Below Fair Value: TOWR (IDR720) is trading below our estimate of fair value (IDR2913.79)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TOWR. This is calculated by dividing TOWR's market cap by their current earnings.
What is TOWR's PE Ratio?
PE Ratio11x
EarningsRp3.27t
Market CapRp36.03t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TOWR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average31.7x
MTEL Dayamitra Telekomunikasi
23.5x7.5%Rp49.5t
TBIG Tower Bersama Infrastructure
27.3x8.8%Rp44.0t
SUPR Solusi Tunas Pratama
45.2xn/aRp49.9t
MORA Mora Telematika Indonesia
30.9xn/aRp8.6t
TOWR Sarana Menara Nusantara
11x7.1%Rp36.0t

Price-To-Earnings vs Peers: TOWR is good value based on its Price-To-Earnings Ratio (11x) compared to the peer average (31.7x).

Price to Earnings Ratio vs Industry

How does TOWR's PE Ratio compare vs other companies in the Asian Telecom Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
TOWR 11.0xIndustry Avg. 15.1xNo. of Companies19PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TOWR is good value based on its Price-To-Earnings Ratio (11x) compared to the Asian Telecom industry average (15x).

Price to Earnings Ratio vs Fair Ratio

What is TOWR'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.

TOWR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11x
Fair PE Ratio16.2x

Price-To-Earnings vs Fair Ratio: TOWR is good value based on its Price-To-Earnings Ratio (11x) compared to the estimated Fair Price-To-Earnings Ratio (16.2x).

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 TOWR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp720.00
Rp1,126.56
+56.5%
23.4%Rp1,780.00Rp840.00n/a16
Nov ’25Rp800.00
Rp1,122.06
+40.3%
22.9%Rp1,780.00Rp840.00n/a17
Oct ’25Rp870.00
Rp1,119.44
+28.7%
21.7%Rp1,780.00Rp765.00n/a18
Sep ’25Rp835.00
Rp1,116.47
+33.7%
22.8%Rp1,780.00Rp765.00n/a17
Aug ’25Rp820.00
Rp1,116.47
+36.2%
22.8%Rp1,780.00Rp765.00n/a17
Jul ’25Rp730.00
Rp1,142.65
+56.5%
21.9%Rp1,780.00Rp765.00n/a17
Jun ’25Rp690.00
Rp1,183.82
+71.6%
25.6%Rp1,900.00Rp860.00n/a17
May ’25Rp805.00
Rp1,242.50
+54.3%
21.1%Rp1,900.00Rp940.00n/a18
Apr ’25Rp850.00
Rp1,274.44
+49.9%
22.9%Rp2,075.00Rp995.00n/a18
Mar ’25Rp900.00
Rp1,274.44
+41.6%
22.9%Rp2,075.00Rp995.00n/a18
Feb ’25Rp910.00
Rp1,274.44
+40.0%
22.9%Rp2,075.00Rp995.00n/a18
Jan ’25Rp990.00
Rp1,286.05
+29.9%
21.7%Rp2,075.00Rp1,000.00n/a19
Dec ’24Rp940.00
Rp1,286.05
+36.8%
21.7%Rp2,075.00Rp1,000.00n/a19
Nov ’24Rp850.00
Rp1,283.68
+51.0%
21.8%Rp2,075.00Rp1,000.00Rp800.0019
Oct ’24Rp960.00
Rp1,297.50
+35.2%
21.3%Rp2,075.00Rp1,000.00Rp870.0020
Sep ’24Rp1,030.00
Rp1,290.00
+25.2%
21.6%Rp2,075.00Rp1,000.00Rp835.0020
Aug ’24Rp1,020.00
Rp1,292.63
+26.7%
22.3%Rp2,075.00Rp950.00Rp820.0019
Jul ’24Rp1,055.00
Rp1,299.72
+23.2%
22.9%Rp2,075.00Rp950.00Rp730.0018
Jun ’24Rp990.00
Rp1,314.41
+32.8%
22.9%Rp2,075.00Rp950.00Rp690.0017
May ’24Rp1,025.00
Rp1,355.59
+32.3%
21.5%Rp2,075.00Rp1,000.00Rp805.0017
Apr ’24Rp925.00
Rp1,379.12
+49.1%
20.9%Rp2,075.00Rp1,000.00Rp850.0017
Mar ’24Rp1,015.00
Rp1,448.44
+42.7%
19.6%Rp2,075.00Rp1,070.00Rp900.0016
Feb ’24Rp1,130.00
Rp1,473.33
+30.4%
18.7%Rp2,075.00Rp1,070.00Rp910.0015
Jan ’24Rp1,100.00
Rp1,450.00
+31.8%
19.2%Rp2,075.00Rp1,070.00Rp990.0018
Dec ’23Rp1,150.00
Rp1,461.11
+27.1%
20.2%Rp2,075.00Rp1,070.00Rp940.0018
Nov ’23Rp1,145.00
Rp1,459.47
+27.5%
18.8%Rp2,075.00Rp1,070.00Rp850.0019

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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