Ciputra Development Tbk (CTRA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Ciputra Development Tbk stock IDR 1,166, price IDR 494, upside +136.1%, quality 54 out of 100. Rating: strongly undervalued. 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 4, 2026.
How to read this chart
60‑month range 490.00 IDR – 1,282 IDR · fair‑value band 1,072 IDR – 1,391 IDR · the 494.00 IDR price screens below the 1,166 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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PT Ciputra Development Tbk, together with its subsidiaries, develops and sells real estate properties in Indonesia. The company operates through Real Estate and Rental segments.
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It develops, sells, and maintains houses, shophouses, warehouses, apartments, office towers, malls, hotels, golf courses, waterparks, and hospitals and healthcare facilities.
The company was formerly known as PT Citra Habitat Indonesia and changed its name to PT Ciputra Development Tbk in December 1990. PT Ciputra Development Tbk was founded in 1981 and is based in Jakarta, Indonesia. PT Ciputra Development Tbk operates as a subsidiary of PT Sang Pelopor.
Stock analysis
Ciputra Development Tbk (CTRA) currently trades at 494.00 IDR, while our model-based Fair Value estimate is 1,166 IDR, implying the stock looks roughly 58% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 2,482 IDR per share, and 7 of the 9 models we run sit above the 494.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 288.51 IDR, and 2 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1,072 IDR (bear) to 1,391 IDR (bull), the price of 494.00 IDR sits below 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 54/100 (solid quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Ciputra Development Tbk reported revenue of 12.7T IDR in FY2025 versus 9.7T IDR in FY2021, a compound +6.8%/yr. Reported net income was 2.7T IDR in FY2025, compounding +11.3%/yr from FY2021.
Key figures
Market cap 9.2T IDR (≈ $506M) Small · P/E ratio 3.9 · P/S ratio 0.77 · EPS (TTM) 127.00 IDR · Dividend yield 7.3% · Net margin 21.2% · Return on equity 10.0% · Return on assets (EBIT) 7.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 1% 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 136%, CTRA screens cheaper than that median.
Fair Value models
Bear1,072 IDRFair Value 1,166 IDRBull1,391 IDR
Price 494.00 IDR · Upside +136.1%
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 (77.79 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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+13.2%
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.
+11.5%
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.
+9.4%
Start year 2020 (pandemic). Over 10 years: +5.4% a year
Revenue growth 10 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.
+5.4%
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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. Basis: EBIT basis. 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.
+13.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.7%
Dividend (yield on the price)7.3%
Per share before 2015divided by the spin-off factor 1.0109
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.15.1% vs 5.5%, picking up
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.33% → 28%
Compare Ciputra Development Tbk with another stock
Price, fair value, quality and upside side by side.
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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 · 488 stocks
Beats the industry median on 13/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+136.1% · Top 25%
Profitability
Return on equity (12 months)10.0% · Above median
Return on assets5.6% · Top 25%
Net margin (12 months)21.2% · Top 25%
Operating margin (12 months)29.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−16.3% · Below median
Dividend yield (12 months)7.3% · Top 25%
Balance sheet
Debt / equity0.24× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ciputra Development Tbk Fair Value". https://www.fairvalue-calculator.com/stock/CTRA
Frequently asked questions
Is Ciputra Development Tbk (CTRA) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 1,166 IDR versus a price of 494.00 IDR, about +136% upside (undervalued).
What is the fair value of CTRA?
Our model-based fair value for Ciputra Development Tbk is 1,166 IDR (as of Nov 4, 2026), built from audited fundamentals. The current price: 494.00 IDR.
What is the quality score of CTRA?
Ciputra Development Tbk has a Quality Score of 54/100. 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 Ciputra Development Tbk (CTRA)?
Our model-based price target is the fair value of 1,166 IDR (as of Nov 4, 2026) from 9 valuation models. Cautious scenario 1,072 IDR, optimistic scenario 1,391 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Ciputra Development Tbk stock forecast for 2026?
Our models put fair value at 1,166 IDR, about +136% upside versus a price of 494.00 IDR (undervalued). Cautious scenario 1,072 IDR, optimistic scenario 1,391 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Ciputra Development Tbk (CTRA)?
Ciputra Development Tbk reported trailing-twelve-month revenue of about 11.9T IDR (latest available figure, as of Nov 4, 2026).
Does Ciputra Development Tbk pay a dividend?
Ciputra Development Tbk currently shows a dividend yield of 7.29% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Ciputra Development Tbk (CTRA) and when is the ex-dividend date?
Ciputra Development Tbk pays a dividend of 36.00 IDR per share a year, a dividend yield of 7.3%. The last ex-dividend date was Jul 7, 2026. A dividend has been paid every year since at least 2011. The payout ratio is 28.3% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Ciputra Development Tbk (CTRA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ciputra Development Tbk it is 1,166 IDR per share (as of Nov 4, 2026), against a price of 494.00 IDR. It is the blended result of 9 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Ciputra Development Tbk stock overvalued or undervalued in 2026?
As of Nov 4, 2026, CTRA trades below its calculated fair value: price 494.00 IDR, fair value 1,166 IDR, a gap of about +136% (undervalued). 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 CTRA?
No. The price is what the market pays today (494.00 IDR); the fair value is what the company's own numbers justify (1,166 IDR). For Ciputra Development Tbk the two are 672.15 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Ciputra Development Tbk worth?
The market values Ciputra Development Tbk at about 9.2T IDR (market capitalisation, as of Nov 4, 2026). Per share that is 494.00 IDR; our models calculate a fair value of 1,166 IDR per share.
What do the bullish and bearish scenarios say about CTRA?
Our models span a range for Ciputra Development Tbk: cautious scenario 1,072 IDR, base 1,166 IDR, optimistic 1,391 IDR per share (as of Nov 4, 2026, price 494.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CTRA?
Ciputra Development Tbk trades at a price-to-earnings ratio of 3.9 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,166 IDR is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 12.8. Other multiples: PEG 0.4, P/B 0.4, P/S 0.8, EV/EBITDA 1.1.
What is the PEG ratio of CTRA?
The PEG ratio of Ciputra Development Tbk is 0.44 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Ciputra Development Tbk (CTRA)?
Balance-sheet figures for Ciputra Development Tbk (as of Nov 4, 2026): return on equity 10.0%, debt of 0.24 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is CTRA from its 52-week high?
Ciputra Development Tbk trades at 494.00 IDR, about 44% below its 52-week high of 880.63 IDR and 1% above the low of 490.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,166 IDR is for.
Which stocks are comparable to Ciputra Development Tbk?
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 Ciputra Development Tbk stock attractive at the current price?
The data as of Nov 4, 2026: price 494.00 IDR, calculated fair value 1,166 IDR (+136%), Quality Score 54/100, 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 CTRA calculated?
We run Ciputra Development Tbk through 9 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 1,166 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 13.0% above its aggregate fair value. Ciputra Development Tbk currently trades 58% below its own fair value, and the market average says nothing about that. 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 Ciputra Development Tbk (CTRA)?
The closing price on Nov 6, 2026 was 494.00 IDR. Our model-based fair value is 1,166 IDR, about +136% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ciputra Development Tbk right now?
The price is below even our cautious bear case (1,072 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Ciputra Development Tbk (CTRA) come from?
Earnings per share at Ciputra Development Tbk grew +6.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.0 %, EBIT margin −0.6 %, tax rate +2.4 %, residual (interest, one-offs) +0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Ciputra Development Tbk
How large is the market capitalisation of Ciputra Development Tbk (CTRA)?
The market capitalisation of Ciputra Development Tbk is 9.2T IDR (≈ $506M). 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 Ciputra Development Tbk (CTRA)?
The price-to-sales ratio of Ciputra Development Tbk is 0.77 (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 Ciputra Development Tbk (CTRA)?
Earnings per share at Ciputra Development Tbk are 127.00 IDR (price ÷ EPS = P/E 3.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ciputra Development Tbk (CTRA)?
The dividend yield of Ciputra Development Tbk is 7.3% (payout 28.3%). 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 Ciputra Development Tbk (CTRA)?
The net margin of Ciputra Development Tbk is 21.2% (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 Ciputra Development Tbk (CTRA)?
The return on equity (ROE) of Ciputra Development Tbk is 10.0% (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 Ciputra Development Tbk (CTRA)?
On an EBIT basis the return on assets of Ciputra Development Tbk is 7.4% (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 Ciputra Development Tbk (CTRA)?
The operating margin of Ciputra Development Tbk is 29.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ciputra Development Tbk (CTRA)?
Revenue at Ciputra Development Tbk is growing −16.3% versus a year earlier (3y avg +11.5%). 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 Ciputra Development Tbk (CTRA)?
Earnings per share at Ciputra Development Tbk are growing +0.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ciputra Development Tbk (CTRA) generate?
The free cash flow of Ciputra Development Tbk is −839B 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 cash does Ciputra Development Tbk (CTRA) hold?
Ciputra Development Tbk holds more cash than debt, 528B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 4, 2026