Elang Mahkota Teknologi Tbk (EMTK) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Elang Mahkota Teknologi Tbk IDR 894, price IDR 446, upside +100.4%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 322.91 IDR – 2,741 IDR · fair‑value band 693.06 IDR – 1,367 IDR · the 446.00 IDR price screens below the 893.69 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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.
Stock analysis
Elang Mahkota Teknologi Tbk (EMTK) currently trades at 446.00 IDR, while our model-based Fair Value estimate is 893.69 IDR, implying the stock looks roughly 50.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 2,459 IDR per share, and 25 of the 26 models we run sit above the 446.00 IDR price.
Bear case: the Asset-Based group reads lowest at 414.35 IDR, and 1 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 693.06 IDR (bear) to 1,367 IDR (bull), the price of 446.00 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 64/100 (solid quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Elang Mahkota Teknologi Tbk 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.
Key figures
Market cap 30.9T IDR (≈ $3.1B) · P/E ratio 9.7 · P/S ratio 3.43 · EPS (TTM) 46.16 IDR · Dividend yield 9.3% · Net margin 35.5% · Return on equity 9.0% · Return on assets (EBIT) 1.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 71% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 20% fair-value upside, at 100%, EMTK screens cheaper than that median.
Fair Value models
Bear 693.06 IDRFair Value 893.69 IDRBull 1,367 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (33.77 IDR per share) are deliberately not added.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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+56.3%
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.
+7.2%
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.
+9.9%
Start year 2020 (pandemic). Over 10 years: +11.5% a year
Revenue growth 17 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.
+11.2%
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What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +12.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.8%
Dividend (yield on the price)9.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7% vs 19%, slowing
Profit margin 2020 to 2025 ⓘ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.11% → 5%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 96% above its own trend.
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare Elang Mahkota Teknologi Tbk with another stock
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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.Broadcasting · 66 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+100% · Top 25%
Profitability
Return on equity (TTM)9% · Top 25%
Return on assets1% · Above median
Net margin (TTM)13% · Top 25%
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth48% · Top 25%
Dividend yield (TTM)9.3% · Top 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Broadcasting median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Elang Mahkota Teknologi Tbk Fair Value". https://www.fairvalue-calculator.com/stock/EMTK
Frequently asked questions
Is Elang Mahkota Teknologi Tbk (EMTK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 893.69 IDR versus a price of 446.00 IDR, about +100% upside (undervalued).
What is the fair value of EMTK?
Our model-based fair value for Elang Mahkota Teknologi Tbk is 893.69 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 446.00 IDR.
What is the quality score of EMTK?
Elang Mahkota Teknologi Tbk 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 price target for Elang Mahkota Teknologi Tbk (EMTK)?
Our model-based price target is the fair value of 893.69 IDR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 693.06 IDR, optimistic scenario 1,367 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Elang Mahkota Teknologi Tbk stock forecast for 2026?
Our models put fair value at 893.69 IDR, about +100% upside versus a price of 446.00 IDR (undervalued). Cautious scenario 693.06 IDR, optimistic scenario 1,367 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Elang Mahkota Teknologi Tbk (EMTK)?
Elang Mahkota Teknologi Tbk reported trailing-twelve-month revenue of about 21.0T IDR (latest available figure, as of Sep 24, 2026).
Does Elang Mahkota Teknologi Tbk pay a dividend?
Elang Mahkota Teknologi Tbk currently shows a dividend yield of about 9.34% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Elang Mahkota Teknologi Tbk (EMTK)?
For today's price to be fair in a discounted-cash-flow model, Elang Mahkota Teknologi Tbk would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of EMTK use?
Our models discount Elang Mahkota Teknologi Tbk at 9.6 %: a base by market capitalisation (mega), damped by beta 0.28, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Elang Mahkota Teknologi Tbk that is less than minus 40 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Elang Mahkota Teknologi Tbk (EMTK) delivered so far?
Over the past 5 years revenue at Elang Mahkota Teknologi Tbk grew +9.9 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Elang Mahkota Teknologi Tbk (EMTK) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Elang Mahkota Teknologi Tbk (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Elang Mahkota Teknologi Tbk (EMTK)?
The free-cash-flow yield on the price is 4.57 %: that much free cash flow Elang Mahkota Teknologi Tbk produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Elang Mahkota Teknologi Tbk (EMTK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Elang Mahkota Teknologi Tbk it is 893.69 IDR per share (as of Sep 24, 2026), against a price of 446.00 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Elang Mahkota Teknologi Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, EMTK trades below its calculated fair value: price 446.00 IDR, fair value 893.69 IDR, a gap of about +100% (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 EMTK?
No. The price is what the market pays today (446.00 IDR); the fair value is what the company's own numbers justify (893.69 IDR). For Elang Mahkota Teknologi Tbk the two are 447.69 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Elang Mahkota Teknologi Tbk worth?
The market values Elang Mahkota Teknologi Tbk at about 30.9T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 446.00 IDR; our models calculate a fair value of 893.69 IDR per share.
What do the bullish and bearish scenarios say about EMTK?
Our models span a range for Elang Mahkota Teknologi Tbk: cautious scenario 693.06 IDR, base 893.69 IDR, optimistic 1,367 IDR per share (as of Sep 24, 2026, price 446.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EMTK?
Elang Mahkota Teknologi Tbk trades at a price-to-earnings ratio of 9.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 893.69 IDR is built from several models across several years. Other multiples: P/B 0.8, P/S 1.5, EV/EBITDA 4.6.
How solid is the balance sheet of Elang Mahkota Teknologi Tbk (EMTK)?
Balance-sheet figures for Elang Mahkota Teknologi Tbk (as of Sep 24, 2026): return on equity 9.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is EMTK from its 52-week high?
Elang Mahkota Teknologi Tbk trades at 446.00 IDR, about 71% below its 52-week high of 1,545 IDR and at the low of 446.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 893.69 IDR is for.
Which stocks are comparable to Elang Mahkota Teknologi Tbk?
From the same area (Communication Services) we also value Nexstar Media Group, SES S.A, MFE-Mediaforeurope N.V, Jiangsu Broadcasting Cable Information Network Corporation, 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 Elang Mahkota Teknologi Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 446.00 IDR, calculated fair value 893.69 IDR (+100%), Quality Score 64/100, from 26 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 EMTK calculated?
We run Elang Mahkota Teknologi Tbk through 26 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 893.69 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 14.1 % above its aggregate fair value. Elang Mahkota Teknologi Tbk currently trades 100 % 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 Elang Mahkota Teknologi Tbk (EMTK)?
The closing price on Sep 23, 2026 was 446.00 IDR. Our model-based fair value is 893.69 IDR, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Elang Mahkota Teknologi Tbk right now?
The price is below even our cautious bear case (693.06 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 (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (693.06 IDR to 1,367 IDR) leaves room in how you read the outcome.
Where does the earnings growth of Elang Mahkota Teknologi Tbk (EMTK) come from?
Earnings per share at Elang Mahkota Teknologi Tbk grew +15.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.3 %, EBIT margin −13.0 %, tax rate +2.6 %, residual (interest, one-offs) +19.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Elang Mahkota Teknologi Tbk
How large is the market capitalisation of Elang Mahkota Teknologi Tbk (EMTK)?
The market capitalisation of Elang Mahkota Teknologi Tbk is 30.9T IDR (≈ $3.1B). 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 Elang Mahkota Teknologi Tbk (EMTK)?
The price-to-sales ratio of Elang Mahkota Teknologi Tbk is 3.43 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Elang Mahkota Teknologi Tbk (EMTK)?
Earnings per share at Elang Mahkota Teknologi Tbk are 46.16 IDR (price ÷ EPS = P/E 9.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Elang Mahkota Teknologi Tbk (EMTK)?
The dividend yield of Elang Mahkota Teknologi Tbk is 9.3% (payout 90.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Elang Mahkota Teknologi Tbk (EMTK)?
The net margin of Elang Mahkota Teknologi Tbk is 35.5% (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 Elang Mahkota Teknologi Tbk (EMTK)?
The return on equity (ROE) of Elang Mahkota Teknologi Tbk is 9.0% (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 Elang Mahkota Teknologi Tbk (EMTK)?
On an EBIT basis the return on assets of Elang Mahkota Teknologi Tbk is 1.5% (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 Elang Mahkota Teknologi Tbk (EMTK)?
The operating margin of Elang Mahkota Teknologi Tbk is 8.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Elang Mahkota Teknologi Tbk (EMTK)?
Revenue at Elang Mahkota Teknologi Tbk is growing +47.6% versus a year earlier (3y avg +7.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Elang Mahkota Teknologi Tbk (EMTK)?
Earnings per share at Elang Mahkota Teknologi Tbk are growing −65.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Elang Mahkota Teknologi Tbk (EMTK) hold?
Elang Mahkota Teknologi Tbk holds more cash than debt, 20.3T IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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