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PT Bakrieland Development Tbk (ELTY) Fair Value & Analysis

Real Estate · ID · Market cap 1.0T IDR

PB PT Bakrieland Development Tbk ELTY · JK
Price38.00 IDR
Fair Value54.13 IDR
Upside+42.5%
Quality51/100
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Mixed Growth
Thin margins · 0.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Narrow moat 23/100
Evidence: Medium Range 35.38 IDR – 72.88 IDR Share as image

Fair value as of: Jul 16, 2026

From 13 valuation models · updated 25 days ago

Share price +72.7% over the past month.

A solid business, screening 42% undervalued on our models.

What matters now

  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (35.38 IDR to 72.88 IDR) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

99.00 IDR 6.00 IDR Fair Value 54.13 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 6.00 IDR – 99.00 IDR · fair‑value band 35.38 IDR – 72.88 IDR · the 38.00 IDR price screens below the 54.13 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Bakrieland Development Tbk (ELTY) currently trades at 38.00 IDR, while our model-based Fair Value estimate is 54.13 IDR, implying the stock looks roughly 42.5% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PT Bakrieland Development Tbk generated revenue of 1.4T IDR at a net margin of 0.4%. Revenue grew 14.4% year over year. It earns a return on equity of -0.5%. Net debt stands at 908B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 35.38 IDR (bear case) to 72.88 IDR (bull case); at 38.00 IDR, the current price sits within 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 65% below its 52-week high and 322% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -13% fair-value upside, at 42%, ELTY screens cheaper 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
Growth DCF 16.35 IDR 32.36 IDR 60.47 IDR 80
Rev-Margin DCF 35.99 IDR 70.38 IDR 113.22 IDR 74
Gordon GGM 237.17 IDR 517.79 IDR 871.20 IDR 70
All 13 models by family
DCF Models
FCF DCF 16.28 IDR 32.94 IDR 62.15 IDR 38
5Y Revenue Exit 35.99 IDR 71.66 IDR 120.19 IDR 39
5Y EBITDA Exit 70.74 IDR 141.31 IDR 229.53 IDR 41
10Y Revenue Exit 27.56 IDR 59.68 IDR 108.73 IDR 36
10Y EBITDA Exit 52.63 IDR 111.07 IDR 199.87 IDR 37
Dividend Discount
Gordon GGM 237.17 IDR 517.79 IDR 871.20 IDR 70
DDM Multi-Stage 237.17 IDR 424.15 IDR 539.62 IDR 61
Multiples
EV/EBIT 87.75 IDR 118.73 IDR 149.72 IDR 53
EV/EBITDA 105.21 IDR 142.00 IDR 178.80 IDR 54
EV/Revenue 46.07 IDR 68.04 IDR 90.01 IDR 43
Asset-Based
NCAV (Graham) 105.49 IDR 141.36 IDR 210.98 IDR 50
Growth DCF
Growth DCF 16.35 IDR 32.36 IDR 60.47 IDR 80
Rev-Margin DCF 35.99 IDR 70.38 IDR 113.22 IDR 74

Widest divergence: Dividend Discount (424.15 IDR) versus Growth DCF (32.36 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.4T IDR
Revenue growth (YoY) +14.4%
Net margin 0.4%
Return on equity -0.5%
Free cash flow 43.1B IDR FY2025
P/E ratio 164.3
More key figures
Operating margin 2.5%
EPS (TTM) 0.1400 IDR
EPS growth (YoY) +220%
Net debt 908B IDR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 49 · Market factors (momentum, volatility) 55

Profitability 11
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 82
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 Bakrieland Development Tbk operates as an integrated property company in Indonesia. The company develops and sells urban properties, landed residential estates, office buildings, malls, commercial areas, hotels, and resorts, as well as theme parks and food courts.

Full company description

PT Bakrieland Development Tbk operates as an integrated property company in Indonesia. The company develops and sells urban properties, landed residential estates, office buildings, malls, commercial areas, hotels, and resorts, as well as theme parks and food courts. It also rents and manages offices, spaces, and courts; manages theme parks and recreation parks; operates and manages hotels; and real estate, advertising, promotion services, court facilities, management of sports facilities, fitness clubs, parking activities, arena facilities, building and industrial cleaning, private security, security system services, fixed-time labor provider, combined facility support service provider, general public services, garden care and maintenance, water pipeline installation, general building cleaning services, construction of accommodation buildings, highways, roads, hotels, villas, restaurants, cafes, tourism areas, educational buildings, offices, lodgings, entertainment and sports facilities, trading, investment, refinancing businesses, management of buildings, apartments, residential areas, shopping centers, land preparation, installation of waterways, food and beverage services, wireless telecommunication services. The company was formerly known as PT Elang Realty Tbk and changed its name to PT Bakrieland Development Tbk in April 1997. PT Bakrieland Development Tbk was founded in 1990 and is headquartered in Jakarta, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Bakrieland Development Tbk reported revenue of 1.4T IDR in FY2025 versus 784B IDR in FY2021, a compound +16.1%/yr. Reported net income was −16.7B IDR in FY2025.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.4T IDR
Latest YoY
+16.2%
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.
+11.6%
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.
+18.3%
Avg. growth/yr (23Y) 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.
+18.2%
Revenue +16.1%/yr
FY21 784B IDR
FY22 1.0T IDR
FY23 1.3T IDR
FY24 1.2T IDR
FY25 1.4T IDR
Net income
FY21 −274B IDR
FY22 −245B IDR
FY23 −1.1T IDR
FY24 −68.5B IDR
FY25 −16.7B IDR

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Cite: Fair Value Calculator (2026). "PT Bakrieland Development Tbk Fair Value". https://www.fairvalue-calculator.com/stock/ELTY

Peer Group

Real Estate Services · 520 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 52 · Below median
Fair Value upside +42% · Above median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 14% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 164.3× · Pricier than 75% of peers
P/B 0.18× · Cheaper than 75% of peers
P/S (TTM) 0.70× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 5.3× · Cheaper than 75% of peers
PEG 0.21× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 90 · sector 37
FUTURE 72 · sector 10
PAST 0 · sector 16
HEALTH 98 · sector 85
DIVIDEND 0 · sector 49

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 Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.92 HK$34.92 -13%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
WHA Corporation WHAR 5.45 THB 4.14 THB -24%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%

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Frequently asked questions

Is PT Bakrieland Development Tbk (ELTY) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 54.13 IDR versus a price of 38.00 IDR, about +42% (undervalued).
What is the fair value of ELTY?
Our model-based fair value for PT Bakrieland Development Tbk is 54.13 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 38.00 IDR.
What is the quality score of ELTY?
PT Bakrieland Development Tbk has a Quality Score of 51/100. 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 Bakrieland Development Tbk (ELTY)?
PT Bakrieland Development Tbk reported trailing-twelve-month revenue of about 1.4T IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of ELTY?
The net profit margin of PT Bakrieland Development Tbk is about 0.4%, meaning it keeps roughly 0.4% 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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