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Megapolitan Developments Tbk (EMDE) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Megapolitan Developments Tbk IDR 193, price IDR 77, upside +150.0%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Real Estate · ID · ISIN ID1000118003

MD Thin data Sep 24, 2026

Megapolitan Developments Tbk

EMDE · JK

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 192.50 IDR · Strongly undervalued (+150%)
!Quality 53/100
!Mixed Growth (revenue 5y +19.5 %/yr)
!Loss-making · -40.4% net margin (TTM)
✓Low debt · generates free cash flow
!Mixed vs. peers (5/10)
!Narrow moat 18/100
!Evidence only low, so the estimate is less certain
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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

214.00 IDR 53.00 IDR Fair Value 192.50 IDR Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 53.00 IDR – 214.00 IDR · fair‑value band 123.89 IDR – 209.45 IDR · the 77.00 IDR price screens below the 192.50 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

Megapolitan Developments Tbk (EMDE) currently trades at 77.00 IDR, while our model-based Fair Value estimate is 192.50 IDR, implying the stock looks roughly 60.0% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 1,859 IDR per share, and 9 of the 10 models we run sit above the 77.00 IDR price.

Bear case: the Multiples group reads lowest at 95.99 IDR, and 1 of the 10 models stay below the price. Evidence for this calculation is low.

Scenario range: 123.89 IDR (bear) to 209.45 IDR (bull), the price of 77.00 IDR sits below 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 53/100 (solid quality), in the Real Estate sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

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.

Key figures

Market cap 257B IDR (≈ $14.4M) · P/S ratio 1.11 · EPS (TTM) −24.40 IDR · Net margin −37.4% · Return on equity −3.2% · Return on assets (EBIT) 9.2% · Operating margin −2.9% · Revenue (TTM) 202B IDR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 45% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 150%, EMDE screens cheaper than that median.

Fair Value models

Bear 123.89 IDR Fair Value 192.50 IDR Bull 209.45 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.
Highest evidence
FCF DCF 2,322 IDR 3,619 IDR 7,664 IDR 75
5Y EBITDA Exit 703.53 IDR 926.50 IDR 1,349 IDR 75
Growth DCF 2,175 IDR 3,976 IDR 7,501 IDR 75
All 10 models by family
DCF Models
FCF DCF 2,322 IDR 3,619 IDR 7,664 IDR 75
5Y Revenue Exit 675.69 IDR 870.20 IDR 1,248 IDR 73
5Y EBITDA Exit 703.53 IDR 926.50 IDR 1,349 IDR 75
10Y Revenue Exit 1,180 IDR 1,859 IDR 2,033 IDR 68
10Y EBITDA Exit 1,203 IDR 1,917 IDR 2,887 IDR 67
Multiples
EV/EBIT 80.24 IDR 134.53 IDR 188.81 IDR 64
EV/EBITDA 51.34 IDR 95.99 IDR 140.63 IDR 64
EV/Revenue 7.20 IDR 45.70 IDR 84.19 IDR 48
Asset-Based
NCAV (Graham) 267.31 IDR 358.20 IDR 534.63 IDR 54
Growth DCF
Growth DCF 2,175 IDR 3,976 IDR 7,501 IDR 75

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Quality Score breakdown

Overall quality 53/100

Of which business quality 56 · Market factors (momentum, volatility) 39

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 54
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 85
Share count: buybacks or dilution?

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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. 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−84.6%
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.
+10.7%
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.
+19.5%
Start year 2020 (pandemic). Over 10 years: −4.4% a year
Revenue growth 18 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.
+6.5%
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.
−10.4% (2019) → 41.2% (2024)
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

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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 · 547 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 54 · Above median
Fair Value upside +150% · Top 25%
Profitability
Return on assets 1% · Below median
Net margin (TTM) −40% · Bottom 25%
Operating margin (TTM) −3% · Bottom 25%
Growth and dividend
Revenue growth −10% · Bottom 25%
Balance sheet
Debt / equity 0.24× · Below median

Valuation Multiplesvs Real Estate Services median · lower = cheaper

P/FCF 0.0× · Cheapest 25%
EV/EBITDA 7.6× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 38
FUTURE (revenue growth)0 · sector 12
PAST (return on equity)0 · sector 16
HEALTH (low debt)88 · sector 83
DIVIDEND (yield)0 · sector 65

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 Real Estate Services stocks, each showing price versus our Fair Value estimate.

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Cellnex Telecom, S.A CLNX €25.33 €23.78 −6%
KE Holdings 2423 HK$42.78 HK$17.18 −60%
Jones Lang LaSalle Incorporated JLL $324.06 $530.17 +64%
Swire Properties Limited 1972 HK$24.40 HK$13.50 −45%
CoStar Group CSGP $28.77 $6.17 −79%
China Resources Mixc Lifestyle Services Limited 1209 HK$37.44 HK$56.43 +51%
CapitaLand Investment Limited 9CI 2.62 SGD 0.5000 SGD −81%

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192.50 IDR +60%Fair Value
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Cite: Fair Value Calculator (2026). "Megapolitan Developments Tbk Fair Value". https://www.fairvalue-calculator.com/stock/EMDE

Frequently asked questions

Is Megapolitan Developments Tbk (EMDE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 192.50 IDR versus a price of 77.00 IDR, about +150% upside (undervalued).
What is the fair value of EMDE?
Our model-based fair value for Megapolitan Developments Tbk is 192.50 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 77.00 IDR.
What is the quality score of EMDE?
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 price target for Megapolitan Developments Tbk (EMDE)?
Our model-based price target is the fair value of 192.50 IDR (as of Sep 24, 2026) from 10 valuation models. Cautious scenario 123.89 IDR, optimistic scenario 209.45 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Megapolitan Developments Tbk stock forecast for 2026?
Our models put fair value at 192.50 IDR, about +150% upside versus a price of 77.00 IDR (undervalued). Cautious scenario 123.89 IDR, optimistic scenario 209.45 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Megapolitan Developments Tbk (EMDE)?
Megapolitan Developments Tbk reported trailing-twelve-month revenue of about 202B IDR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Megapolitan Developments Tbk (EMDE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Megapolitan Developments Tbk it is 192.50 IDR per share (as of Sep 24, 2026), against a price of 77.00 IDR. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Megapolitan Developments Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, EMDE trades below its calculated fair value: price 77.00 IDR, fair value 192.50 IDR, a gap of about +150% (undervalued). 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 EMDE?
No. The price is what the market pays today (77.00 IDR); the fair value is what the company's own numbers justify (192.50 IDR). For Megapolitan Developments Tbk the two are 115.50 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Megapolitan Developments Tbk worth?
The market values Megapolitan Developments Tbk at about 257B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 77.00 IDR; our models calculate a fair value of 192.50 IDR per share.
What do the bullish and bearish scenarios say about EMDE?
Our models span a range for Megapolitan Developments Tbk: cautious scenario 123.89 IDR, base 192.50 IDR, optimistic 209.45 IDR per share (as of Sep 24, 2026, price 77.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Megapolitan Developments Tbk (EMDE)?
Balance-sheet figures for Megapolitan Developments Tbk (as of Sep 24, 2026): return on equity −3.2%, debt of 0.24 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is EMDE from its 52-week high?
Megapolitan Developments Tbk trades at 77.00 IDR, about 30% below its 52-week high of 110.00 IDR and 45% above the low of 53.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 192.50 IDR is for.
Which stocks are comparable to Megapolitan Developments Tbk?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 Megapolitan Developments Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 77.00 IDR, calculated fair value 192.50 IDR (+150%), Quality Score 53/100, from 10 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 EMDE calculated?
We run Megapolitan Developments Tbk through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 192.50 IDR, 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 14.0 % above its aggregate fair value. Megapolitan Developments Tbk currently trades 150 % below its own fair value, and the market average says nothing about that. 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 Megapolitan Developments Tbk (EMDE)?
The closing price on Sep 24, 2026 was 77.00 IDR. Our model-based fair value is 192.50 IDR, about +150% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Megapolitan Developments Tbk right now?
The price is below even our cautious bear case (123.89 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Megapolitan Developments Tbk

How large is the market capitalisation of Megapolitan Developments Tbk (EMDE)?
The market capitalisation of Megapolitan Developments Tbk is 257B IDR (≈ $14.4M). 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 Megapolitan Developments Tbk (EMDE)?
The price-to-sales ratio of Megapolitan Developments Tbk is 1.11 (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 Megapolitan Developments Tbk (EMDE)?
Earnings per share at Megapolitan Developments Tbk are −24.40 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Megapolitan Developments Tbk (EMDE)?
The net margin of Megapolitan Developments Tbk is −37.4% (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 Megapolitan Developments Tbk (EMDE)?
The return on equity (ROE) of Megapolitan Developments Tbk is −3.2% (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 Megapolitan Developments Tbk (EMDE)?
On an EBIT basis the return on assets of Megapolitan Developments Tbk is 9.2% (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 Megapolitan Developments Tbk (EMDE)?
The operating margin of Megapolitan Developments Tbk is −2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Megapolitan Developments Tbk (EMDE)?
Revenue at Megapolitan Developments Tbk is growing −9.6% versus a year earlier (3y avg +10.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Megapolitan Developments Tbk (EMDE) generate?
The free cash flow of Megapolitan Developments Tbk is 505B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Megapolitan Developments Tbk (EMDE) carry?
The net debt of Megapolitan Developments Tbk is 278B IDR (fiscal year 2025, ≈ 0.5 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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