PT Fortune Mate Indonesia Tbk, (FMII) Fair Value & Analysis
Real Estate · ID · Market cap 1.6T IDR
Fair value as of: Jul 18, 2026
From 7 valuation models · updated 23 days ago
Share price +0.8% over the past month.
A solid business, but screening 86% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (45.36 IDR). The favourable scenario is already priced in.
- Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (24.39 IDR to 45.36 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range 106.29 IDR – 582.46 IDR · fair‑value band 24.39 IDR – 45.36 IDR · the 256.00 IDR price screens above the 34.76 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
PT Fortune Mate Indonesia Tbk, (FMII) currently trades at 256.00 IDR, while our model-based Fair Value estimate is 34.76 IDR, implying the stock looks roughly 86.4% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
It earns a return on equity of -1.0%. Net debt stands at 48.9B IDR. Fundamentals as of Jul 18, 2026
Our scenario range runs from 24.39 IDR (bear case) to 45.36 IDR (bull case); at 256.00 IDR, the current price sits above 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 44% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -86%, FMII screens richer 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.
All 7 models by family
Widest divergence: Economic Profit (74.34 IDR) versus Multiples (38.62 IDR). Highest evidence: Residual Income (76).
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Key figures & financial health
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 31
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 Fortune Mate Indonesia Tbk, together with its subsidiaries, engages in the provision of real estate development and construction services in Indonesia. It is also involved in trading and professional activities. The company's project portfolio includes land, residential, office, and industrial properties.
Full company description
PT Fortune Mate Indonesia Tbk, together with its subsidiaries, engages in the provision of real estate development and construction services in Indonesia. It is also involved in trading and professional activities. The company's project portfolio includes land, residential, office, and industrial properties. PT Fortune Mate Indonesia Tbk was founded in 1989 and is based in Surabaya, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Fortune Mate Indonesia Tbk, reported revenue of 32.0B IDR in FY2025 versus 52.7B IDR in FY2021, a compound −11.7%/yr. Reported net income was 14.5B IDR in FY2025, compounding +14.2%/yr from FY2021.
of which total revenue −18.4 pp · buybacks/dilution −4.7 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
FMII screens 86% overvalued. Compare with DLF Limited →
Peer Group
Real Estate - Development · 588 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.
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 - Development stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹657.75 | ₹159.49 | -76% |
| Lodha Developers Limited LODHA | ₹1,188 | ₹583.43 | -51% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,125 IDR | 1,330 IDR | -78% |
| Oberoi Realty Limited OBEROIRLTY | ₹1,925 | ₹1,183 | -39% |
| Godrej Properties Limited GODREJPROP | ₹2,102 | ₹1,044 | -50% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 555.00 IDR | 1,388 IDR | +150% |
| PT Sentul City Tbk, BKSL | 64.00 IDR | 84.16 IDR | +32% |
| PT Ciputra Development Tbk, CTRA | 555.00 IDR | 1,388 IDR | +150% |
| PT Duta Pertiwi Tbk DUTI | 4,100 IDR | 6,239 IDR | +52% |
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Frequently asked questions
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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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