The Discounted Cash Flow (DCF) valuation of Industri Jamu dan Farmasi Sido Muncul Tbk PT (SIDO.JK) is 466.85 IDR. With the latest stock price at 560.00 IDR, the upside of Industri Jamu dan Farmasi Sido Muncul Tbk PT based on DCF is -16.6%.

Is SIDO.JK a buy or a sell?

Based on the latest price of 560.00 IDR and our DCF valuation, Industri Jamu dan Farmasi Sido Muncul Tbk PT (SIDO.JK) is a sell. Selling SIDO.JK stocks now will result in a potential gain of 16.6%.

	Range	Selected
WACC / Discount Rate	10.7% - 13.4%	12.0%
Long-term Growth Rate	1.0% - 3.0%	2.0%
Fair Price	395.92 - 580.3	466.85
Upside	-29.3% - 3.6%	-16.6%

560.00 IDR

Stock Price

466.85 IDR

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

SIDO.JK DCF Valuation: Revenue & Expenses Forecast

(IDR in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	3,919,084	4,227,127	4,580,687	4,933,544	5,228,554	5,409,268
% Growth	10%	8%	8%	8%	6%	3%

Cost of goods sold	(1,618,095)	(1,745,278)	(1,891,255)	(2,036,941)	(2,158,744)	(2,233,356)
% of Revenue	41%	41%	41%	41%	41%	41%

Selling, G&A expenses	(815,627)	(879,736)	(953,318)	(1,026,753)	(1,088,150)	(1,125,759)
% of Revenue	21%	21%	21%	21%	21%	21%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	24,771	26,718	28,953	31,183	33,048	34,190
% of Revenue	1%	1%	1%	1%	1%	1%

Tax expense	(339,107)	(360,558)	(390,715)	(420,813)	(445,976)	(461,390)
Tax rate	22%	22%	22%	22%	22%	22%

Net profit	1,171,026	1,268,272	1,374,352	1,480,220	1,568,733	1,622,952
% Margin	30%	30%	30%	30%	30%	30%