UNVR:IDXPT Unilever Indonesia Tbk Analysis

UNVR is trading at IDR 2,000, notably below its DCF fair value of IDR 2,262, implying roughly a 19% upside. The stock’s valuation multiples—PE around 21.5 and price‑to‑book near 17—suggest a market discount, while the dividend yield is attractive at 7.22% but the payout ratio exceeds 140%, raising sustainability concerns. Technically, the price sits under the 20‑day, 50‑day, and 200‑day SMAs, the MACD is bearish, RSI hovers at 43, and volume is decreasing, all pointing to short‑term weakness; support lies at 1,845 and resistance at 2,410.
The company benefits from a defensive consumer‑goods sector, strong free cash flow generation, and a low beta (~0.6), indicating limited systematic risk. However, 30‑day volatility is high at 62% and historical drawdowns approach 33%, reflecting occasional price swings. With no recent news catalysts, the primary narrative is an undervalued, cash‑rich business tempered by dividend sustainability and near‑term technical pressure.