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PT Megapolitan Developments Tbk (EMDE) Fair Value & Analysis

Real Estate · ID · Market cap 224B IDR

PM PT Megapolitan Developments Tbk EMDE · JK
Price80.00 IDR
Fair Value95.70 IDR
Upside+19.6%
Quality53/100
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Mixed Growth
Loss-making · -40.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (4/10)
Narrow moat 18/100
Evidence: Medium Range 51.06 IDR – 140.35 IDR Share as image

Fair value as of: Jul 13, 2026

From 10 valuation models · updated 28 days ago

Share price +19.4% over the past month.

A solid business, screening 20% undervalued on our models.

What matters now

  • The model range is unusually wide (51.06 IDR to 140.35 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • 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)

214.00 IDR 53.00 IDR Fair Value 95.70 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 53.00 IDR – 214.00 IDR · fair‑value band 51.06 IDR – 140.35 IDR · the 80.00 IDR price screens below the 95.70 IDR fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

PT Megapolitan Developments Tbk (EMDE) currently trades at 80.00 IDR, while our model-based Fair Value estimate is 95.70 IDR, implying the stock looks roughly 19.6% undervalued today. The Quality Score stands at 53/100 (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 Megapolitan Developments Tbk generated revenue of 202B IDR at a net margin of -40.4%. Revenue declined 9.6% year over year. It earns a return on equity of -3.2%. Net debt stands at 278B IDR. Fundamentals as of Jul 13, 2026

Our scenario range runs from 51.06 IDR (bear case) to 140.35 IDR (bull case); at 80.00 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 36% below its 52-week high and 57% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -13% fair-value upside, at 20%, EMDE 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 2,456 IDR 4,830 IDR 9,832 IDR 80
EV/EBITDA 51.34 IDR 95.99 IDR 140.63 IDR 54
EV/EBIT 80.24 IDR 134.53 IDR 188.81 IDR 53
All 10 models by family
DCF Models
FCF DCF 2,611 IDR 4,261 IDR 9,656 IDR 38
5Y Revenue Exit 696.11 IDR 898.25 IDR 1,291 IDR 39
5Y EBITDA Exit 725.24 IDR 957.19 IDR 1,397 IDR 41
10Y Revenue Exit 1,239 IDR 1,964 IDR 2,153 IDR 36
10Y EBITDA Exit 1,265 IDR 2,028 IDR 3,069 IDR 37
Multiples
EV/EBIT 80.24 IDR 134.53 IDR 188.81 IDR 53
EV/EBITDA 51.34 IDR 95.99 IDR 140.63 IDR 54
EV/Revenue 7.20 IDR 45.70 IDR 84.19 IDR 43
Asset-Based
NCAV (Graham) 267.31 IDR 358.20 IDR 534.63 IDR 50
Growth DCF
Growth DCF 2,456 IDR 4,830 IDR 9,832 IDR 80

Widest divergence: Growth DCF (4,830 IDR) versus Multiples (95.99 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 202B IDR
Revenue growth (YoY) -9.6%
Net margin -40.4%
Return on equity -3.2%
Free cash flow 505B IDR FY2025
Operating margin -2.9%
More key figures
EPS (TTM) -24.40 IDR
EPS growth (YoY) -99.9%
Net debt 278B IDR FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 56 · Market factors (momentum, volatility) 36

Profitability 4
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 85
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 Megapolitan Developments Tbk operates as a property development company in Indonesia. The company develops and sells apartments, housing, shophouses, and kiosk units projects. It is also involved in renting properties and sale of land.

Full company description

PT Megapolitan Developments Tbk operates as a property development company in Indonesia. The company develops and sells apartments, housing, shophouses, and kiosk units projects. It is also involved in renting properties and sale of land. The company was formerly known as PT Megapolitan Developments Corporation and changed its name to PT Megapolitan Developments Tbk in 2010. The company was founded in 1976 and is headquartered in Jakarta, Indonesia. PT Megapolitan Developments Tbk is a subsidiary of PT. Cosmopolitan Persada Developments.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Megapolitan Developments Tbk reported revenue of 208B IDR in FY2025 versus 174B IDR in FY2021, a compound +4.7%/yr. Reported net income was −78.0B IDR in FY2025.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
208B IDR
Latest YoY
−84.6%
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.
+10.7%
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.
+19.5%
Avg. growth/yr (18Y) 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.
+6.5%
Revenue +4.7%/yr
FY21 174B IDR
FY22 153B IDR
FY23 155B IDR
FY24 1.4T IDR
FY25 208B IDR
Net income
FY21 1.0T IDR
FY22 −68.3B IDR
FY23 −270B IDR
FY24 524B IDR
FY25 −78.0B IDR

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Cite: Fair Value Calculator (2026). "PT Megapolitan Developments Tbk Fair Value". https://www.fairvalue-calculator.com/stock/EMDE

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 54 · Below median
Fair Value upside +20% · Above median
Return on assets 1% · Below median
Net margin (TTM) -40% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -10% · Bottom 25%
Debt / equity 0.24× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 7.6× · Cheaper than median

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 59 · sector 37
FUTURE 0 · sector 10
PAST 0 · sector 16
HEALTH 88 · 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 13, 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 Megapolitan Developments Tbk (EMDE) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 95.70 IDR versus a price of 80.00 IDR, about +20% (undervalued).
What is the fair value of EMDE?
Our model-based fair value for PT Megapolitan Developments Tbk is 95.70 IDR (as of Jul 13, 2026), built from audited fundamentals. The current price is 80.00 IDR.
What is the quality score of EMDE?
PT Megapolitan Developments Tbk has a Quality Score of 53/100. 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 Megapolitan Developments Tbk (EMDE)?
PT Megapolitan Developments Tbk reported trailing-twelve-month revenue of about 202B IDR (latest available figure, as of Jul 13, 2026).
What is the net profit margin of EMDE?
The net profit margin of PT Megapolitan Developments Tbk is about -40.4%, meaning it is currently running at a net loss. 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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