Fortune Mate Indonesia Tbk (FMII) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Fortune Mate Indonesia Tbk stock IDR 35, price IDR 244, that is 85.8% below the price, quality 48 out of 100. Rating: strongly overvalued. Calculated from audited financials with 7 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 106.29 IDR – 582.46 IDR · fair‑value band 24.39 IDR – 45.36 IDR · the 244.00 IDR price screens above the 34.76 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.
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PT Fortune Mate Indonesia Tbk, together with its subsidiaries, engages in the provision of real estate development and construction services in Indonesia. It is also involved in trading and professional activities.
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The company's project portfolio includes land, residential, office, and industrial properties. PT Fortune Mate Indonesia Tbk was founded in 1989 and is based in Surabaya, Indonesia.
Stock analysis
Fortune Mate Indonesia Tbk (FMII) currently trades at 244.00 IDR, while our model-based Fair Value estimate is 34.76 IDR, 86% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 60.20 IDR per share, and 0 of the 7 models we run sit above the 244.00 IDR price.
Bear case: the Asset-Based group reads lowest at 16.36 IDR, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: 24.39 IDR (bear) to 45.36 IDR (bull), the price of 244.00 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 48/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Fortune Mate Indonesia Tbk reported revenue of 32.0B IDR in FY2025 versus 52.7B IDR in FY2021, a compound −11.7%/yr. Reported net income was 14.5B IDR in FY2025, compounding +14.2%/yr from FY2021.
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 18% 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 −86%, FMII screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (16.36 IDR to 216.97 IDR). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear24.39 IDRFair Value 34.76 IDRBull45.36 IDR
Price 244.00 IDR · Downside -85.8%
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.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.14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.3%
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.
−15.1%
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.
−9.0%
Start year 2020 (pandemic). Over 10 years: −18.2% a year
Revenue growth 16 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.
+4.1%
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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.
≈ +20.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +20.9%
Dividend (yield on the price)0.0%
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: 20.9% / −21.7%
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.27% → 48%
⚠ Revenue per share shrinking 10.2%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.88 per share, median 14.6 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
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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 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−85.8% · Bottom 25%
Profitability
Return on assets1.9% · Below median
Net margin (12 months)−77.0% · Bottom 25%
Operating margin (12 months)15.5% · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
P/B2.25× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 68
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 17
HEALTH (low debt)100· sector 83
DIVIDEND (yield)0· sector 61
VALUE 0: the price sits above our fair-value range.
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). "Fortune Mate Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/FMII
Frequently asked questions
Is Fortune Mate Indonesia Tbk (FMII) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 34.76 IDR versus a price of 244.00 IDR, about 86% lower (overvalued).
What is the fair value of FMII?
Our model-based fair value for Fortune Mate Indonesia Tbk is 34.76 IDR (as of Nov 9, 2026), built from audited fundamentals. The current price: 244.00 IDR.
What is the quality score of FMII?
Fortune Mate Indonesia Tbk has a Quality Score of 48/100. 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 Fortune Mate Indonesia Tbk (FMII)?
Our model-based price target is the fair value of 34.76 IDR (as of Nov 9, 2026) from 7 valuation models. Cautious scenario 24.39 IDR, optimistic scenario 45.36 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Fortune Mate Indonesia Tbk stock forecast for 2026?
Our models put fair value at 34.76 IDR, about 86% lower versus a price of 244.00 IDR (overvalued). Cautious scenario 24.39 IDR, optimistic scenario 45.36 IDR. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Fortune Mate Indonesia Tbk (FMII)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fortune Mate Indonesia Tbk it is 34.76 IDR per share (as of Nov 9, 2026), against a price of 244.00 IDR. It is the blended result of 7 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Fortune Mate Indonesia Tbk stock overvalued or undervalued in 2026?
As of Nov 9, 2026, FMII trades above its calculated fair value: price 244.00 IDR, fair value 34.76 IDR, a gap of about −86% (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 FMII?
No. The price is what the market pays today (244.00 IDR); the fair value is what the company's own numbers justify (34.76 IDR). For Fortune Mate Indonesia Tbk the two are 209.24 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Fortune Mate Indonesia Tbk worth?
The market values Fortune Mate Indonesia Tbk at about 1.6T IDR (market capitalisation, as of Nov 9, 2026). Per share that is 244.00 IDR; our models calculate a fair value of 34.76 IDR per share.
What do the bullish and bearish scenarios say about FMII?
Our models span a range for Fortune Mate Indonesia Tbk: cautious scenario 24.39 IDR, base 34.76 IDR, optimistic 45.36 IDR per share (as of Nov 9, 2026, price 244.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Fortune Mate Indonesia Tbk (FMII)?
Balance-sheet figures for Fortune Mate Indonesia Tbk (as of Nov 9, 2026): return on equity −0.6%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is FMII from its 52-week high?
Fortune Mate Indonesia Tbk trades at 244.00 IDR, about 44% below its 52-week high of 434.00 IDR and 18% above the low of 206.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 34.76 IDR is for.
Which stocks are comparable to Fortune Mate Indonesia 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 Fortune Mate Indonesia Tbk stock attractive at the current price?
The data as of Nov 9, 2026: price 244.00 IDR, calculated fair value 34.76 IDR (−86%), Quality Score 48/100, from 7 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 FMII calculated?
We run Fortune Mate Indonesia Tbk through 7 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 34.76 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. Fortune Mate Indonesia Tbk 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 Fortune Mate Indonesia Tbk (FMII)?
The closing price on Nov 6, 2026 was 244.00 IDR. Our model-based fair value is 34.76 IDR, about 86% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fortune Mate Indonesia Tbk right now?
The price sits above even our optimistic bull case (45.36 IDR). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (24.39 IDR to 45.36 IDR) leaves room in how you read the outcome.
Where does the earnings growth of Fortune Mate Indonesia Tbk (FMII) come from?
Earnings per share at Fortune Mate Indonesia Tbk grew −25.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share −23.1 %, EBIT margin −6.4 %, tax rate +0.4 %, residual (interest, one-offs) +3.6 %. 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 Fortune Mate Indonesia Tbk
How large is the market capitalisation of Fortune Mate Indonesia Tbk (FMII)?
The market capitalisation of Fortune Mate Indonesia Tbk is 1.6T IDR (≈ $86.7M). 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 are the earnings per share of Fortune Mate Indonesia Tbk (FMII)?
Earnings per share at Fortune Mate Indonesia Tbk are −0.6100 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fortune Mate Indonesia Tbk (FMII)?
The net margin of Fortune Mate Indonesia Tbk is −77.0% (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 Fortune Mate Indonesia Tbk (FMII)?
The return on equity (ROE) of Fortune Mate Indonesia Tbk is −0.6% (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 Fortune Mate Indonesia Tbk (FMII)?
On an EBIT basis the return on assets of Fortune Mate Indonesia Tbk is 2.2% (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 Fortune Mate Indonesia Tbk (FMII)?
The operating margin of Fortune Mate Indonesia Tbk is 15.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at Fortune Mate Indonesia Tbk (FMII)?
Earnings per share at Fortune Mate Indonesia Tbk are growing +687% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fortune Mate Indonesia Tbk (FMII) generate?
The free cash flow of Fortune Mate Indonesia Tbk is −4.0B 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 Fortune Mate Indonesia Tbk (FMII) carry?
The net debt of Fortune Mate Indonesia Tbk is 48.9B 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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Thin data
Nov 9, 2026