Makmur Berkah Amanda Pt (AMAN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Makmur Berkah Amanda Pt stock IDR 156, price IDR 186, that is 16.1% below the price, quality 47 out of 100. Rating: overvalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 84.24 IDR – 991.07 IDR · fair‑value band 155.30 IDR – 167.64 IDR · the 186.00 IDR price screens above the 155.98 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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PT Makmur Berkah Amanda Tbk, together with its subsidiaries, operates as a real estate developer in Indonesia. It operates through Real Estate - Warehouse, Real Estate - Rent, Real Estate - Land, and Hospitality segments.
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The company's development portfolio comprises residential, warehouse, and commercial properties. It also engages in the rental and sale of warehouses; sale of developed land; and operation of hotels. The company was formerly known as PT Sidomaju Industri Estate.
The company was founded in 1996 and is headquartered in Jakarta Barat, Indonesia. PT Makmur Berkah Amanda Tbk operates as a subsidiary of Pt Griya Prima Amanda.
Stock analysis
Makmur Berkah Amanda Pt (AMAN) currently trades at 186.00 IDR, while our model-based Fair Value estimate is 155.98 IDR, 16% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 319.54 IDR per share, and 4 of the 9 models we run sit above the 186.00 IDR price.
Bear case: the Asset-Based group reads lowest at 23.11 IDR, and 5 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: 155.30 IDR (bear) to 167.64 IDR (bull), the price of 186.00 IDR sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Makmur Berkah Amanda Pt reported revenue of 235B IDR in FY2025 versus 101B IDR in FY2021, a compound +23.6%/yr. Reported net income was 57.4B IDR in FY2025, compounding +14.4%/yr from FY2021.
Key figures
Market cap 656B IDR (≈ $36.4M) Micro · P/E ratio 15.6 · P/S ratio 2.72 · EPS (TTM) 11.90 IDR · Dividend yield 0.6% · Net margin 19.1% · Return on equity 5.8% · Return on assets (EBIT) 5.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 51% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 33% fair-value upside, at −16%, AMAN screens richer than that median.
Fair Value models
Bear155.30 IDRFair Value 155.98 IDRBull167.64 IDR
Price 186.00 IDR · Downside -16.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (10.20 IDR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.3%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
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What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +24.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +23.7%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 23.7% / −5.6%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 32%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 5.12 per share, median 19.6 in 2016 to 2018). It measures the recovery from the trough, not lasting growth.
Compare Makmur Berkah Amanda Pt with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Development · 489 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−16.1% · Below median
Profitability
Return on equity (12 months)5.8% · Above median
Return on assets3.9% · Above median
Net margin (12 months)19.1% · Above median
Operating margin (12 months)30.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)32.7% · Top 25%
Dividend yield (12 months)0.6% · Bottom 25%
Balance sheet
Debt / equity0.37× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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Is Makmur Berkah Amanda Pt (AMAN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 155.98 IDR versus a price of 186.00 IDR, about 16% lower (overvalued).
What is the fair value of AMAN?
Our model-based fair value for Makmur Berkah Amanda Pt is 155.98 IDR (as of Nov 9, 2026), built from audited fundamentals. The current price: 186.00 IDR.
What is the quality score of AMAN?
Makmur Berkah Amanda Pt has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Makmur Berkah Amanda Pt (AMAN)?
Our model-based price target is the fair value of 155.98 IDR (as of Nov 9, 2026) from 9 valuation models. Cautious scenario 155.30 IDR, optimistic scenario 167.64 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Makmur Berkah Amanda Pt stock forecast for 2026?
Our models put fair value at 155.98 IDR, about 16% lower versus a price of 186.00 IDR (overvalued). Cautious scenario 155.30 IDR, optimistic scenario 167.64 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Makmur Berkah Amanda Pt (AMAN)?
Makmur Berkah Amanda Pt reported trailing-twelve-month revenue of about 241B IDR (latest available figure, as of Nov 9, 2026).
Does Makmur Berkah Amanda Pt pay a dividend?
Makmur Berkah Amanda Pt currently shows a dividend yield of 0.56% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Makmur Berkah Amanda Pt (AMAN)?
Makmur Berkah Amanda Pt has a dividend yield of 0.6%.
What is the intrinsic value of Makmur Berkah Amanda Pt (AMAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Makmur Berkah Amanda Pt it is 155.98 IDR per share (as of Nov 9, 2026), against a price of 186.00 IDR. It is the blended result of 9 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Makmur Berkah Amanda Pt stock overvalued or undervalued in 2026?
As of Nov 9, 2026, AMAN trades above its calculated fair value: price 186.00 IDR, fair value 155.98 IDR, a gap of about −16% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AMAN?
No. The price is what the market pays today (186.00 IDR); the fair value is what the company's own numbers justify (155.98 IDR). For Makmur Berkah Amanda Pt the two are 30.02 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Makmur Berkah Amanda Pt worth?
The market values Makmur Berkah Amanda Pt at about 656B IDR (market capitalisation, as of Nov 9, 2026). Per share that is 186.00 IDR; our models calculate a fair value of 155.98 IDR per share.
What do the bullish and bearish scenarios say about AMAN?
Our models span a range for Makmur Berkah Amanda Pt: cautious scenario 155.30 IDR, base 155.98 IDR, optimistic 167.64 IDR per share (as of Nov 9, 2026, price 186.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AMAN?
Makmur Berkah Amanda Pt trades at a price-to-earnings ratio of 15.6 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 155.98 IDR is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 37.1. Other multiples: P/B 0.8, P/S 2.7, EV/EBITDA 9.0.
How solid is the balance sheet of Makmur Berkah Amanda Pt (AMAN)?
Balance-sheet figures for Makmur Berkah Amanda Pt (as of Nov 9, 2026): return on equity 5.8%, debt of 0.37 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is AMAN from its 52-week high?
Makmur Berkah Amanda Pt trades at 186.00 IDR, about 51% below its 52-week high of 380.00 IDR and 22% above the low of 152.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 155.98 IDR is for.
Which stocks are comparable to Makmur Berkah Amanda Pt?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, DLF Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Makmur Berkah Amanda Pt stock attractive at the current price?
The data as of Nov 9, 2026: price 186.00 IDR, calculated fair value 155.98 IDR (−16%), Quality Score 47/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AMAN calculated?
We run Makmur Berkah Amanda Pt through 9 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 155.98 IDR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Makmur Berkah Amanda Pt itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Makmur Berkah Amanda Pt (AMAN)?
The closing price on Nov 6, 2026 was 186.00 IDR. Our model-based fair value is 155.98 IDR, about 16% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Makmur Berkah Amanda Pt right now?
The price sits above even our optimistic bull case (167.64 IDR). The favourable scenario is already priced in. Weak quality (47/100) and above fair value at the same time, the margin of safety is missing on both counts. The models converge in a tight band (155.30 IDR to 167.64 IDR), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Makmur Berkah Amanda Pt
How large is the market capitalisation of Makmur Berkah Amanda Pt (AMAN)?
The market capitalisation of Makmur Berkah Amanda Pt is 656B IDR (≈ $36.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Makmur Berkah Amanda Pt (AMAN)?
The price-to-sales ratio of Makmur Berkah Amanda Pt is 2.72 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Makmur Berkah Amanda Pt (AMAN)?
Earnings per share at Makmur Berkah Amanda Pt are 11.90 IDR (price ÷ EPS = P/E 15.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Makmur Berkah Amanda Pt (AMAN)?
The dividend yield of Makmur Berkah Amanda Pt is 0.6% (payout 8.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Makmur Berkah Amanda Pt (AMAN)?
The net margin of Makmur Berkah Amanda Pt is 19.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Makmur Berkah Amanda Pt (AMAN)?
The return on equity (ROE) of Makmur Berkah Amanda Pt is 5.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Makmur Berkah Amanda Pt (AMAN)?
On an EBIT basis the return on assets of Makmur Berkah Amanda Pt is 5.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Makmur Berkah Amanda Pt (AMAN)?
The operating margin of Makmur Berkah Amanda Pt is 30.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Makmur Berkah Amanda Pt (AMAN)?
Revenue at Makmur Berkah Amanda Pt is growing +32.7% versus a year earlier (3y avg +19.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Makmur Berkah Amanda Pt (AMAN)?
Earnings per share at Makmur Berkah Amanda Pt are growing +12.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Makmur Berkah Amanda Pt (AMAN) generate?
The free cash flow of Makmur Berkah Amanda Pt is −97.7B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Makmur Berkah Amanda Pt (AMAN) carry?
The net debt of Makmur Berkah Amanda Pt is 323B IDR (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 9, 2026