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PT Adhi Commuter Properti Tbk (ADCP) Fair Value & Analysis

Real Estate · ID · Market cap 1.1T IDR

PA PT Adhi Commuter Properti Tbk ADCP · JK
Price50.00 IDR
Fair Value12.59 IDR
Upside-74.8%
Quality30/100
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Weak Growth
Thin margins · 0.0% net margin
High debt · negative free cash flow
Trails peers (0/8)
Narrow moat 11/100
Evidence: Low Range 9.40 IDR – 18.80 IDR Share as image

Fair value as of: Jul 19, 2026

From 1 valuation models · updated 22 days ago

Below-average quality, and screening another 75% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (18.80 IDR). The favourable scenario is already priced in.
  • Weak quality (30/100) 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 (9.40 IDR to 18.80 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (4 years)

120.10 IDR 50.00 IDR Fair Value 12.59 IDR Feb 2022 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

53‑month range 50.00 IDR – 120.10 IDR · fair‑value band 9.40 IDR – 18.80 IDR · the 50.00 IDR price screens above the 12.59 IDR fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

PT Adhi Commuter Properti Tbk (ADCP) currently trades at 50.00 IDR, while our model-based Fair Value estimate is 12.59 IDR, implying the stock looks roughly 74.8% overvalued today. The Quality Score stands at 30/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Trailing-twelve-month revenue stands at 165B IDR. Revenue declined 46.3% year over year. Net debt stands at 1.1T IDR. Fundamentals as of Jul 19, 2026

Our scenario range runs from 9.40 IDR (bear case) to 18.80 IDR (bull case); at 50.00 IDR, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 33% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -75%, ADCP screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
NCAV (Graham) 9.40 IDR 12.59 IDR 18.80 IDR 50
All 1 models by family
Asset-Based
NCAV (Graham) 9.40 IDR 12.59 IDR 18.80 IDR 50

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Key figures & financial health

Revenue (TTM) 165B IDR
Revenue growth (YoY) -46.3%
Return on equity -142%
Free cash flow −11.5B IDR FY2025
Operating margin 2.1%
EPS (TTM) -94.82 IDR
More key figures
EPS growth (YoY) -99.8%
Net debt 1.1T IDR FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 30/100

Of which business quality 28 · Market factors (momentum, volatility) 38

Profitability 0
Margins and returns on capital today
Quality Growth 10
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 73
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PT Adhi Commuter Properti Tbk engages in property and real estate activities in Indonesia. The company develops various Transit Oriented Development brands, such as LRT CITY, Member of LRT CITY, and Adhi City.

Full company description

PT Adhi Commuter Properti Tbk engages in property and real estate activities in Indonesia. The company develops various Transit Oriented Development brands, such as LRT CITY, Member of LRT CITY, and Adhi City. It is also involved in the construction of offices, apartments, and landed houses; trading of related properties and real estate; property and real estate agency; building management and rental; and hotel management. The company was founded in 2018 and is headquartered in Jakarta Timur, Indonesia. PT Adhi Commuter Properti Tbk operates as a subsidiary of PT Adhi Karya (Persero) Tbk.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Adhi Commuter Properti Tbk reported revenue of 197B IDR in FY2025 versus 564B IDR in FY2021, a compound −23.1%/yr. Reported net income was −2.1T IDR in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
197B IDR
Latest YoY
−34.3%
Avg. growth/yr (3Y) 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.
−30.7%
Avg. growth/yr (5Y) 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.
−27.4%
Avg. growth/yr (7Y) 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.
−10.8%
Revenue −23.1%/yr
FY21 564B IDR
FY22 593B IDR
FY23 652B IDR
FY24 300B IDR
FY25 197B IDR
Net income
FY21 130B IDR
FY22 105B IDR
FY23 116B IDR
FY24 42.8B IDR
FY25 −2.1T IDR

ADCP screens 75% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "PT Adhi Commuter Properti Tbk Fair Value". https://www.fairvalue-calculator.com/stock/ADCP

Peer Group

Real Estate - Development · 588 stocks

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.

Quality Score 28 · Bottom 25%
Fair Value upside −75% · Bottom 25%
Return on assets -20% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -46% · Bottom 25%
Debt / equity 2.64× · Higher than 75% of peers

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is PT Adhi Commuter Properti Tbk (ADCP) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 12.59 IDR versus a price of 50.00 IDR, about −75% (overvalued).
What is the fair value of ADCP?
Our model-based fair value for PT Adhi Commuter Properti Tbk is 12.59 IDR (as of Jul 19, 2026), built from audited fundamentals. The current price is 50.00 IDR.
What is the quality score of ADCP?
PT Adhi Commuter Properti Tbk has a Quality Score of 30/100. 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 revenue of PT Adhi Commuter Properti Tbk (ADCP)?
PT Adhi Commuter Properti Tbk reported trailing-twelve-month revenue of about 165B IDR (latest available figure, as of Jul 19, 2026).
What is the net profit margin of ADCP?
The net profit margin of PT Adhi Commuter Properti Tbk is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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