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Harta Djaya Karya Tbk Pt (MEJA) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Harta Djaya Karya Tbk Pt stock IDR 13, price IDR 81, that is 83.9% below the price, quality 28 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Industrials ID · ISIN ID1000202302

HD Harta Djaya Karya Tbk Pt logo Thin data Nov 4, 2026

Harta Djaya Karya Tbk Pt

MEJA · JK
Very expensive, weak quality

Our calculation puts a fair price 84% below what the stock costs today.

Low debt
Revenue last quarter 80% below a year ago.
Fair value 13.05 IDR · Strongly overvalued
Quality 28/100
Weak Growth (revenue 3y −13.1 %/yr in IDR)
Loss-making · -77.0% net margin (FY2025)
Negative free cash flow
Trails peers (1/10)
Narrow moat 5/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

3,997 IDR 29.14 IDR Fair Value 13.05 IDR Feb 2024 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

33‑month range 29.14 IDR – 3,997 IDR · fair‑value band 8.61 IDR – 16.30 IDR · the 81.00 IDR price screens above the 13.05 IDR fair value. As of Nov 4, 2026.

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Company profile

PT Harta Djaya Karya Tbk provides construction and interior design services in Indonesia. It engages in design and planning, and civil and interior construction works, as well as offers custom and loose furniture. The company was founded in 2012 and is headquartered in Jakarta Selatan, Indonesia.

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PT Harta Djaya Karya Tbk is a subsidiary of PT Interra Djaya Karya.

Stock analysis

Harta Djaya Karya Tbk Pt (MEJA) currently trades at 81.00 IDR, while our model-based Fair Value estimate is 13.05 IDR, 84% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: 8.61 IDR (bear) to 16.30 IDR (bull), the price of 81.00 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 28/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Harta Djaya Karya Tbk Pt reported revenue of 28.1B IDR in FY2025 versus 9.6B IDR in FY2021, a compound +30.7%/yr. Reported net income was −21.6B IDR in FY2025.

Key figures

Market cap 248B IDR (≈ $13.8M) Micro · P/S ratio 73.5 · Net margin −77.0% · Return on equity −35.9% · Return on assets (EBIT) 13.6% (5-year average) · Operating margin −119% · Revenue growth (YoY) −79.5% · EPS growth (YoY) −65.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (medium confidence).

What moves the price

The share trades about 51% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at −84%, MEJA screens richer than that median.

Fair Value models

Bear 8.61 IDR Fair Value 13.05 IDR Bull 16.30 IDR
Price 81.00 IDR · Downside -83.9%
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.
Best data coverage
NCAV (Graham) 10.13 IDR 15.35 IDR 19.18 IDR 54
All 1 models by family
Asset-Based
NCAV (Graham) 10.13 IDR 15.35 IDR 19.18 IDR 54

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 28/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 3
How much profit the company makes from its sales and capital
Quality Growth 0
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 26
How calm the share price moves, does not count
Price momentum 22
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 6
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 32/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−40.5%
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.
−13.1%
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.
+29.2%
Start year 2020 (pandemic)
Revenue growth 6 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.
+24.9%
Profit margin (trend) ⓘ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.
11.5% (2019) → −30.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

MEJA screens overvalued: fair value 84% below the price. Compare with Quanta Services, Inc →

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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.Engineering & Construction · 791 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −83.9% · Bottom 25%
Profitability
Return on assets −24.4% · Bottom 25%
Net margin (12 months) −77.0% · Bottom 25%
Operating margin (12 months) −118.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −79.5% · Bottom 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B 3.90× · Priciest 25%
P/S (12 months) 73.48× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 34
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 28
HEALTH (low debt)100 · sector 94
DIVIDEND (yield)0 · sector 44

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vinci SA DG €111.60 €186.68 +67% vs MEJA
Comfort Systems USA, Inc FIX $1,018 $1,119 +10% vs MEJA
EMCOR Group EME $608.45 $524.14 −14% vs MEJA
ACS, Actividades de Construcción y Servicios, S.A ACS €87.00 €62.21 −28% vs MEJA
Samsung C&T Corporation 028260 273,500 KRW 159,702 KRW −42% vs MEJA
Larsen & Toubro Limited LT ₹4,118 ₹2,302 −44% vs MEJA
HOCHTIEF Aktiengesellschaft HOT €365.60 €203.86 −44% vs MEJA
APi Group APG $40.87 $19.20 −53% vs MEJA
Ferrovial N.V FER $58.71 $23.06 −61% vs MEJA
Quanta Services, Inc PWR $540.90 $162.41 −70% vs MEJA

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Harta Djaya Karya Tbk Pt: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Harta Djaya Karya Tbk Pt Fair Value". https://www.fairvalue-calculator.com/stock/MEJA

Frequently asked questions

Is Harta Djaya Karya Tbk Pt (MEJA) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 13.05 IDR versus a price of 81.00 IDR, about 84% lower (overvalued).
What is the fair value of MEJA?
Our model-based fair value for Harta Djaya Karya Tbk Pt is 13.05 IDR (as of Nov 4, 2026), built from audited fundamentals. The current price: 81.00 IDR.
What is the quality score of MEJA?
Harta Djaya Karya Tbk Pt has a Quality Score of 28/100. 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 Harta Djaya Karya Tbk Pt (MEJA)?
Our model-based price target is the fair value of 13.05 IDR (as of Nov 4, 2026) from 1 valuation models. Cautious scenario 8.61 IDR, optimistic scenario 16.30 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Harta Djaya Karya Tbk Pt stock forecast for 2026?
Our models put fair value at 13.05 IDR, about 84% lower versus a price of 81.00 IDR (overvalued). Cautious scenario 8.61 IDR, optimistic scenario 16.30 IDR. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Harta Djaya Karya Tbk Pt (MEJA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Harta Djaya Karya Tbk Pt it is 13.05 IDR per share (as of Nov 4, 2026), against a price of 81.00 IDR. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Harta Djaya Karya Tbk Pt stock overvalued or undervalued in 2026?
As of Nov 4, 2026, MEJA trades above its calculated fair value: price 81.00 IDR, fair value 13.05 IDR, a gap of about −84% (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 MEJA?
No. The price is what the market pays today (81.00 IDR); the fair value is what the company's own numbers justify (13.05 IDR). For Harta Djaya Karya Tbk Pt the two are 67.95 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Harta Djaya Karya Tbk Pt worth?
The market values Harta Djaya Karya Tbk Pt at about 248B IDR (market capitalisation, as of Nov 4, 2026). Per share that is 81.00 IDR; our models calculate a fair value of 13.05 IDR per share.
What do the bullish and bearish scenarios say about MEJA?
Our models span a range for Harta Djaya Karya Tbk Pt: cautious scenario 8.61 IDR, base 13.05 IDR, optimistic 16.30 IDR per share (as of Nov 4, 2026, price 81.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Harta Djaya Karya Tbk Pt (MEJA)?
Balance-sheet figures for Harta Djaya Karya Tbk Pt (as of Nov 4, 2026): return on equity −35.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is MEJA from its 52-week high?
Harta Djaya Karya Tbk Pt trades at 81.00 IDR, about 51% below its 52-week high of 166.29 IDR and 15% above the low of 70.29 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 13.05 IDR is for.
Which stocks are comparable to Harta Djaya Karya Tbk Pt?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 Harta Djaya Karya Tbk Pt stock attractive at the current price?
The data as of Nov 4, 2026: price 81.00 IDR, calculated fair value 13.05 IDR (−84%), Quality Score 28/100, from 1 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 MEJA calculated?
We run Harta Djaya Karya Tbk Pt through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 13.05 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. Harta Djaya Karya Tbk 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 Harta Djaya Karya Tbk Pt (MEJA)?
The closing price on Nov 6, 2026 was 81.00 IDR. Our model-based fair value is 13.05 IDR, about 84% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Harta Djaya Karya Tbk Pt right now?
The price sits above even our optimistic bull case (16.30 IDR). The favourable scenario is already priced in. Weak quality (28/100) 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 (8.61 IDR to 16.30 IDR) leaves room in how you read the outcome.

Key figures of Harta Djaya Karya Tbk Pt

How large is the market capitalisation of Harta Djaya Karya Tbk Pt (MEJA)?
The market capitalisation of Harta Djaya Karya Tbk Pt is 248B IDR (≈ $13.8M). 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 Harta Djaya Karya Tbk Pt (MEJA)?
The price-to-sales ratio of Harta Djaya Karya Tbk Pt is 73.5 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Harta Djaya Karya Tbk Pt (MEJA)?
The net margin of Harta Djaya Karya Tbk Pt is −77.0% (fiscal year 2025). 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 Harta Djaya Karya Tbk Pt (MEJA)?
The return on equity (ROE) of Harta Djaya Karya Tbk Pt is −35.9% (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 Harta Djaya Karya Tbk Pt (MEJA)?
On an EBIT basis the return on assets of Harta Djaya Karya Tbk Pt is 13.6% (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 Harta Djaya Karya Tbk Pt (MEJA)?
The operating margin of Harta Djaya Karya Tbk Pt is −119% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Harta Djaya Karya Tbk Pt (MEJA)?
Revenue at Harta Djaya Karya Tbk Pt is growing −79.5% versus a year earlier (3y avg −13.1%). 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 Harta Djaya Karya Tbk Pt (MEJA)?
Earnings per share at Harta Djaya Karya Tbk Pt are growing −65.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Harta Djaya Karya Tbk Pt (MEJA) generate?
The free cash flow of Harta Djaya Karya Tbk Pt is −17.5B IDR (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Harta Djaya Karya Tbk Pt (MEJA) hold?
Harta Djaya Karya Tbk Pt holds more cash than debt, 18.1B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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