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PT Elang Mahkota Teknologi Tbk, through its subsidiaries, (EMTK) Fair Value & Analysis

Communication Services · ID · Market cap 30.9T IDR

PE PT Elang Mahkota Teknologi Tbk, through its subsidiaries, EMTK · JK
Price530.00 IDR
Fair Value1,094 IDR
Upside+106.4%
Quality64/100
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Expensive Growth
Solidly profitable · 13.4% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Moderate moat 46/100
Evidence: Medium Range 820.32 IDR – 1,367 IDR Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 28 days ago

Share price +6.9% over the past month.

A solid business, screening 106% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (820.32 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

2,741 IDR 322.91 IDR Fair Value 1,094 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 322.91 IDR – 2,741 IDR · fair‑value band 820.32 IDR – 1,367 IDR · the 530.00 IDR price screens below the 1,094 IDR fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

PT Elang Mahkota Teknologi Tbk, through its subsidiaries, (EMTK) currently trades at 530.00 IDR, while our model-based Fair Value estimate is 1,094 IDR, implying the stock looks roughly 106.4% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Communication Services 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 Elang Mahkota Teknologi Tbk, through its subsidiaries, generated revenue of 21.0T IDR at a net margin of 13.4%. Revenue grew 47.6% year over year. It earns a return on equity of 9.0%. The balance sheet holds a net cash position of 20.3T IDR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 820.32 IDR (bear case) to 1,367 IDR (bull case); at 530.00 IDR, the current price sits below 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 68% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -2% fair-value upside, at 106%, EMTK 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 BearBaseBull Evidence
Highest evidence
Growth DCF 653.23 IDR 926.01 IDR 1,445 IDR 80
Residual Income 752.13 IDR 968.39 IDR 3,190 IDR 76
Rev-Margin DCF 558.02 IDR 703.94 IDR 903.57 IDR 74
All 26 models by family
DCF Models
FCF DCF 658.84 IDR 946.09 IDR 1,566 IDR 38
Owner Earnings 2,020 IDR 3,727 IDR 7,064 IDR 31
5Y Revenue Exit 558.02 IDR 707.77 IDR 914.72 IDR 39
5Y EBITDA Exit 645.39 IDR 897.81 IDR 1,227 IDR 41
5Y P/E Exit 1,674 IDR 3,135 IDR 4,914 IDR 38
10Y Revenue Exit 581.73 IDR 741.83 IDR 998.09 IDR 36
10Y EBITDA Exit 648.22 IDR 888.79 IDR 1,280 IDR 37
10Y P/E Exit 1,361 IDR 2,619 IDR 4,609 IDR 35
Earnings-Based
Graham-Dodd 754.58 IDR 4,158 IDR 5,770 IDR 54
Lynch FV 1,158 IDR 1,655 IDR 2,151 IDR 50
PEG = 1.0 1,158 IDR 1,655 IDR 2,151 IDR 46
EPV 444.73 IDR 459.66 IDR 472.93 IDR 59
Dividend Discount
Gordon GGM 453.89 IDR 990.92 IDR 1,667 IDR 70
DDM Multi-Stage 453.89 IDR 811.72 IDR 1,033 IDR 61
Multiples
P/E Multiple 1,831 IDR 2,441 IDR 3,052 IDR 63
P/S Multiple 820.32 IDR 1,094 IDR 1,367 IDR 58
P/B Multiple 1,415 IDR 1,886 IDR 2,358 IDR 55
EV/EBIT 563.17 IDR 630.85 IDR 698.54 IDR 53
EV/EBITDA 655.56 IDR 754.04 IDR 852.52 IDR 54
EV/Revenue 514.10 IDR 580.09 IDR 646.08 IDR 43
Asset-Based
NCAV (Graham) 309.22 IDR 414.35 IDR 618.43 IDR 50
Growth DCF
Growth DCF 653.23 IDR 926.01 IDR 1,445 IDR 80
Rev-Margin DCF 558.02 IDR 703.94 IDR 903.57 IDR 74
Economic Profit
Residual Income 752.13 IDR 968.39 IDR 3,190 IDR 76
ROIC Compounder 444.73 IDR 459.66 IDR 472.93 IDR 72
Growth Earnings
Growth-Adj P/E 1,721 IDR 2,459 IDR 3,197 IDR 68

Widest divergence: Growth Earnings (2,459 IDR) versus Asset-Based (414.35 IDR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 21.0T IDR
Revenue growth (YoY) +47.6%
Net margin 13.4%
Return on equity 9.0%
Free cash flow 1.2T IDR FY2025
P/E ratio 10.9
More key figures
Operating margin 8.3%
EPS (TTM) 46.16 IDR
EPS growth (YoY) -65.7%
Net cash 20.3T IDR FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 17

Profitability 53
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 81
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 Elang Mahkota Teknologi Tbk, through its subsidiaries, engages in the media, healthcare, aviation support services, digital products and services, and other businesses in Indonesia.

Full company description

PT Elang Mahkota Teknologi Tbk, through its subsidiaries, engages in the media, healthcare, aviation support services, digital products and services, and other businesses in Indonesia. The company's Media segment is involved in the free-to-air television broadcasting business through six television channels, as well as content, film and video production and distribution, and digital businesses. This segment also engages in the subscription broadcasting of satellite television under PT Mediatama Televisi. The company's Healthcare segment offers a range of medical services. Its aviation support services segment provides representing ground and cargo handling, aircraft release and maintenance, catering and aviation training services. The Digital Products and Services offer activities sales of physical and virtual products in platform, and services of providing platform, such as investment and gaming platforms. The Others segment provides connectivity services, such as internet service provision, solution, investment and other businesses. The company is also involved in trading of medical equipment, television broadcasting, online media, healthcare, management consulting, trading and telecommunication, tower lease services, information technology, film and content trading, content management and production, production house and multimedia industry, ad based video-on-demand and subscription video-on demand, management and lease of broadcasting and film studios and multimedia, web portals, and digital advertising services. In addition, it is engaged in production house, subscription broadcasting of satellite television, contents, entertainment and multimedia management and production, digital platform, artist management, film production, outdoor media advertising, digital content, agriculture, as well as real estate, facility and airport management, and restaurant services. PT Elang Mahkota Teknologi Tbk was founded in 1983 and is based in Jakarta, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Elang Mahkota Teknologi Tbk, through its subsidiaries, reported revenue of 19.1T IDR in FY2025 versus 12.8T IDR in FY2021, a compound +10.5%/yr. Reported net income was 6.8T IDR in FY2025, compounding +4.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
19.1T IDR
Latest YoY
+56.3%
Avg. growth/yr (3Y)
+7.2%
Avg. growth/yr (5Y)
+9.9%
Avg. growth/yr (17Y)
+11.2%
Revenue +10.5%/yr
FY21 12.8T IDR
FY22 15.5T IDR
FY23 9.2T IDR
FY24 12.2T IDR
FY25 19.1T IDR
Net income +4.7%/yr
FY21 5.7T IDR
FY22 5.4T IDR
FY23 −141B IDR
FY24 1.5T IDR
FY25 6.8T IDR

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Cite: Fair Value Calculator (2026). "PT Elang Mahkota Teknologi Tbk, through its subsidiaries, Fair Value". https://www.fairvalue-calculator.com/stock/EMTK

Peer Group

Broadcasting · 69 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 64 · Top 25%
Fair Value upside +106% · Top 25%
Return on equity (TTM) 9% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 8% · Above median
Revenue growth 48% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Broadcasting median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than 75% of peers
P/B 0.82× · Pricier than median
P/S (TTM) 1.47× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 4.6× · 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 100 · sector 36
FUTURE 100 · sector 0
PAST 36 · sector 3
HEALTH 100 · sector 96
DIVIDEND 0 · sector 47

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 Broadcasting stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Nexstar Media Group NXST $183.71 $78.52 -57%
SES S.A SESG €7.46 €15.46 +107%
MFE-Mediaforeurope N.V MFEB €3.64 €5.38 +48%
Jiangsu Broadcasting Cable Information Network Corporation 600959 ¥3.07 ¥1.14 -63%
Sun TV Network Limited SUNTV ₹489.20 ₹586.58 +20%
MBC Group 4072 20.06 SAR 19.56 SAR -2%
Beijing Gehua Catv Network Co 600037 ¥7.13 ¥3.64 -49%
PT Surya Citra Media Tbk, SCMA 206.00 IDR 229.91 IDR +12%
Zee Entertainment Enterprises Limited ZEEL ₹92.61 ₹53.22 -43%
Sinclair, Inc SBGI $15.42 $4.29 -72%

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Frequently asked questions

Is PT Elang Mahkota Teknologi Tbk, through its subsidiaries, (EMTK) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 1,094 IDR versus a price of 530.00 IDR, about +106% (undervalued).
What is the fair value of EMTK?
Our model-based fair value for PT Elang Mahkota Teknologi Tbk, through its subsidiaries, is 1,094 IDR (as of Jul 12, 2026), built from audited fundamentals. The current price is 530.00 IDR.
What is the quality score of EMTK?
PT Elang Mahkota Teknologi Tbk, through its subsidiaries, has a Quality Score of 64/100. 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 Elang Mahkota Teknologi Tbk, through its subsidiaries, (EMTK)?
PT Elang Mahkota Teknologi Tbk, through its subsidiaries, reported trailing-twelve-month revenue of about 21.0T IDR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of EMTK?
The net profit margin of PT Elang Mahkota Teknologi Tbk, through its subsidiaries, is about 13.4%, meaning it keeps roughly 13.4% 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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