The Discounted Cash Flow (DCF) valuation of KDB Tifa Finance Tbk PT (TIFA.JK) is 365.75 IDR. With the latest stock price at 730.00 IDR, the upside of KDB Tifa Finance Tbk PT based on DCF is -49.9%.

Is TIFA.JK a buy or a sell?

Based on the latest price of 730.00 IDR and our DCF valuation, KDB Tifa Finance Tbk PT (TIFA.JK) is a sell. Selling TIFA.JK stocks now will result in a potential gain of 49.9%.

	Range	Selected
WACC / Discount Rate	8.5% - 10.7%	9.6%
Long-term Growth Rate	2.5% - 4.5%	3.5%
Fair Price	258.67 - 586.75	365.75
Upside	-64.6% - -19.6%	-49.9%

730.00 IDR

Stock Price

365.75 IDR

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

TIFA.JK DCF Valuation: Revenue & Expenses Forecast

(IDR in millions)		Projections

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

Revenue	182,047	176,557	189,445	197,221	208,976	222,202
% Growth	6%	-3%	7%	4%	6%	6%

Cost of goods sold	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Selling, G&A expenses	(54,640)	(52,992)	(56,861)	(59,194)	(62,723)	(66,693)
% of Revenue	30%	30%	30%	30%	30%	30%

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

Net interest & other expenses	(46,464)	(45,063)	(48,352)	(50,337)	(53,337)	(56,713)
% of Revenue	26%	26%	26%	26%	26%	26%

Tax expense	(15,894)	(15,679)	(16,824)	(17,514)	(18,558)	(19,732)
Tax rate	20%	20%	20%	20%	20%	20%

Net profit	65,049	62,823	67,408	70,175	74,358	79,064
% Margin	36%	36%	36%	36%	36%	36%