Mega Manunggal Property TBK PT (MMLP) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Mega Manunggal Property TBK PT stock IDR 194, price IDR 220, that is 11.8% below the price, quality 63 out of 100. Rating: overvalued. Calculated from audited financials with 16 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 214.00 IDR – 806.22 IDR · fair‑value band 89.03 IDR – 318.38 IDR · the 220.00 IDR price screens above the 194.02 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 Mega Manunggal Property Tbk engages in the real estate business in Indonesia. It is also involved in the leasing of warehouse and office spaces, supporting facilities, and management consulting services. The company was incorporated in 2010 and is headquartered in Jakarta Timur, Indonesia.
Stock analysis
Mega Manunggal Property TBK PT (MMLP) currently trades at 220.00 IDR, while our model-based Fair Value estimate is 194.02 IDR, 12% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 452.76 IDR per share, and 5 of the 16 models we run sit above the 220.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 117.28 IDR, and 11 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 89.03 IDR (bear) to 318.38 IDR (bull), the price of 220.00 IDR sits inside 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 63/100 (solid quality), in the Real Estate sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Mega Manunggal Property TBK PT reported revenue of 359B IDR in FY2025 versus 317B IDR in FY2021, a compound +3.2%/yr. Reported net income was 63.2B IDR in FY2025, compounding −35.5%/yr from FY2021.
Key figures
Market cap 1.5T IDR (≈ $84.2M) Micro · P/E ratio 15.3 · P/S ratio 3.46 · EPS (TTM) 14.38 IDR · Dividend yield 5.0% · Net margin 24.7% · Return on equity 2.4% · Return on assets (EBIT) 3.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).
What moves the price
The share trades about 62% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at −12%, MMLP screens cheaper than that median.
Fair Value models
Bear89.03 IDRFair Value 194.02 IDRBull318.38 IDR
Price 220.00 IDR · Downside -11.8%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (12.33 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.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+4.5%
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.
+2.4%
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.
+1.3%
Start year 2020 (pandemic). Over 10 years: +8.2% a year
Revenue growth 13 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.
+14.4%
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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.
−6.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.9%
Dividend (yield on the price)5.0%
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.−27.7% vs −17.1%, slowing
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.2% → 48%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+23.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about +19.8% a year for the price.
Compare Mega Manunggal Property TBK PT 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 Services · 472 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside−9.3% · Below median
Profitability
Return on equity (12 months)2.4% · Below median
Return on assets1.0% · Below median
Net margin (12 months)24.7% · Above median
Operating margin (12 months)72.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.3% · Above median
Dividend yield (12 months)5.0% · Above median
Balance sheet
Debt / equity0.33× · Below median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/E (12 months)15.3× · Pricier than median
P/B0.31× · Cheapest 25%
P/S (12 months)3.46× · Pricier than median
Price / free cash flow (fiscal year)12.7× · Pricier than median
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Is Mega Manunggal Property TBK PT (MMLP) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 194.02 IDR versus a price of 220.00 IDR, about 12% lower (overvalued).
What is the fair value of MMLP?
Our model-based fair value for Mega Manunggal Property TBK PT is 194.02 IDR (as of Nov 9, 2026), built from audited fundamentals. The current price: 220.00 IDR.
What is the quality score of MMLP?
Mega Manunggal Property TBK PT has a Quality Score of 63/100. 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 Mega Manunggal Property TBK PT (MMLP)?
Our model-based price target is the fair value of 194.02 IDR (as of Nov 9, 2026) from 16 valuation models. Cautious scenario 89.03 IDR, optimistic scenario 318.38 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Mega Manunggal Property TBK PT stock forecast for 2026?
Our models put fair value at 194.02 IDR, about 12% lower versus a price of 220.00 IDR (overvalued). Cautious scenario 89.03 IDR, optimistic scenario 318.38 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Mega Manunggal Property TBK PT (MMLP)?
Mega Manunggal Property TBK PT reported trailing-twelve-month revenue of about 423B IDR (latest available figure, as of Nov 9, 2026).
Does Mega Manunggal Property TBK PT pay a dividend?
Mega Manunggal Property TBK PT currently shows a dividend yield of 5.00% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Mega Manunggal Property TBK PT (MMLP)?
Mega Manunggal Property TBK PT has a dividend yield of 5.0%.
What growth is priced into Mega Manunggal Property TBK PT (MMLP)?
For today's price to be fair in a discounted-cash-flow model, Mega Manunggal Property TBK PT would have to grow free cash flow by +23.0 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.3 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of MMLP use?
Our models discount Mega Manunggal Property TBK PT at 13.5 %: a base by market capitalisation (micro), damped by beta 0.04, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mega Manunggal Property TBK PT that is +23.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has Mega Manunggal Property TBK PT (MMLP) delivered so far?
Over the past 5 years revenue at Mega Manunggal Property TBK PT grew +1.3 % a year. The price currently implies free-cash-flow growth of +23.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mega Manunggal Property TBK PT (MMLP) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Mega Manunggal Property TBK PT (+23.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mega Manunggal Property TBK PT (MMLP)?
The free-cash-flow yield on the price is 7.59 %: that much free cash flow Mega Manunggal Property TBK PT produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mega Manunggal Property TBK PT (MMLP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mega Manunggal Property TBK PT it is 194.02 IDR per share (as of Nov 9, 2026), against a price of 220.00 IDR. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Mega Manunggal Property TBK PT stock overvalued or undervalued in 2026?
As of Nov 9, 2026, MMLP trades above its calculated fair value: price 220.00 IDR, fair value 194.02 IDR, a gap of about −12% (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 MMLP?
No. The price is what the market pays today (220.00 IDR); the fair value is what the company's own numbers justify (194.02 IDR). For Mega Manunggal Property TBK PT the two are 25.98 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Mega Manunggal Property TBK PT worth?
The market values Mega Manunggal Property TBK PT at about 1.5T IDR (market capitalisation, as of Nov 9, 2026). Per share that is 220.00 IDR; our models calculate a fair value of 194.02 IDR per share.
What do the bullish and bearish scenarios say about MMLP?
Our models span a range for Mega Manunggal Property TBK PT: cautious scenario 89.03 IDR, base 194.02 IDR, optimistic 318.38 IDR per share (as of Nov 9, 2026, price 220.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MMLP?
Mega Manunggal Property TBK PT trades at a price-to-earnings ratio of 15.3 (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 194.02 IDR is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 14.5. Other multiples: P/B 0.3, P/S 3.5, EV/EBITDA 9.4.
How solid is the balance sheet of Mega Manunggal Property TBK PT (MMLP)?
Balance-sheet figures for Mega Manunggal Property TBK PT (as of Nov 9, 2026): return on equity 2.4%, debt of 0.33 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is MMLP from its 52-week high?
Mega Manunggal Property TBK PT trades at 220.00 IDR, about 62% below its 52-week high of 580.00 IDR and 3% above the low of 214.00 IDR (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 194.02 IDR is for.
Which stocks are comparable to Mega Manunggal Property TBK PT?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties 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 Mega Manunggal Property TBK PT stock attractive at the current price?
The data as of Nov 9, 2026: price 220.00 IDR, calculated fair value 194.02 IDR (−12%), Quality Score 63/100, from 16 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 MMLP calculated?
We run Mega Manunggal Property TBK PT through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 194.02 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. Mega Manunggal Property 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 Mega Manunggal Property TBK PT (MMLP)?
The closing price on Nov 9, 2026 was 220.00 IDR. Our model-based fair value is 194.02 IDR, about 12% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mega Manunggal Property TBK PT right now?
The model range is unusually wide (89.03 IDR to 318.38 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Mega Manunggal Property TBK PT (MMLP) come from?
Earnings per share at Mega Manunggal Property TBK PT grew −10.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.9 %, EBIT margin −9.5 %, tax rate +0.4 %, residual (interest, one-offs) −5.8 %. 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 Mega Manunggal Property TBK PT
How large is the market capitalisation of Mega Manunggal Property TBK PT (MMLP)?
The market capitalisation of Mega Manunggal Property TBK PT is 1.5T IDR (≈ $84.2M). 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 Mega Manunggal Property TBK PT (MMLP)?
The price-to-sales ratio of Mega Manunggal Property TBK PT is 3.46 (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 Mega Manunggal Property TBK PT (MMLP)?
Earnings per share at Mega Manunggal Property TBK PT are 14.38 IDR (price ÷ EPS = P/E 15.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mega Manunggal Property TBK PT (MMLP)?
The dividend yield of Mega Manunggal Property TBK PT is 5.0% (payout 76.6%). 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 Mega Manunggal Property TBK PT (MMLP)?
The net margin of Mega Manunggal Property TBK PT is 24.7% (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 Mega Manunggal Property TBK PT (MMLP)?
The return on equity (ROE) of Mega Manunggal Property TBK PT is 2.4% (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 Mega Manunggal Property TBK PT (MMLP)?
On an EBIT basis the return on assets of Mega Manunggal Property TBK PT is 3.6% (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 Mega Manunggal Property TBK PT (MMLP)?
The operating margin of Mega Manunggal Property TBK PT is 72.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mega Manunggal Property TBK PT (MMLP)?
Revenue at Mega Manunggal Property TBK PT is growing +13.3% versus a year earlier (3y avg +2.4%). 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 Mega Manunggal Property TBK PT (MMLP)?
Earnings per share at Mega Manunggal Property TBK PT are growing +138% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mega Manunggal Property TBK PT (MMLP) carry?
The net debt of Mega Manunggal Property TBK PT is 1.5T IDR (fiscal year 2025, ≈ 13.1 yrs of FCF). 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