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Garuda Maintenance Facility AeroAsia Tbk PT (GMFI) Fair Value & Analysis

Industrials · ID · Market cap 7.0T IDR (≈ $699M) · ISIN ID1000140601

GM Garuda Maintenance Facility AeroAsia Tbk PT GMFI · JK
Price58.00 IDR
Fair Value78.52 IDR
Upside+35.4%
Quality42/100
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Strengths

Trades 26% below our fair value of 78.52 IDR
Healthy Growth (revenue 5y +13.9 %/yr)
Ranks above peers (7/10)

Risks

!Thin margins · 7.2% net margin
!High debt · generates free cash flow
!Narrow moat 39/100
Healthy Growth (revenue 5y +13.9 %/yr)
Thin margins · 7.2% net margin
High debt · generates free cash flow
Ranks above peers (7/10)
Narrow moat 39/100
Evidence: High Range 36.67 IDR – 106.16 IDR Share as image

Fair value as of: Aug 27, 2026

From 20 valuation models · updated yesterday

Share price +5.5% over the past month.

Below-average quality, trading 26% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (36.67 IDR to 106.16 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

151.00 IDR 39.00 IDR Fair Value 78.52 IDR Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range 39.00 IDR – 151.00 IDR · fair‑value band 36.67 IDR – 106.16 IDR · the 58.00 IDR price screens below the 78.52 IDR fair value. Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Garuda Maintenance Facility AeroAsia Tbk PT (GMFI) currently trades at 58.00 IDR, while our model-based Fair Value estimate is 78.52 IDR, implying the stock looks roughly 35.4% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials 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: high), always confirm before acting.

Over the trailing twelve months, Garuda Maintenance Facility AeroAsia Tbk PT generated revenue of 511M IDR at a net margin of 7.2%. Revenue grew 20.5% year over year. It earns a return on equity of -91.2%. Net debt stands at 343M IDR. Fundamentals as of Aug 27, 2026

Our scenario range runs from 36.67 IDR (bear case) to 106.16 IDR (bull case); at 58.00 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 64% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -44% fair-value upside, at 35%, GMFI 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 92.38 IDR 184.76 IDR 80
Residual Income 184.76 IDR 76
Rev-Margin DCF 92.38 IDR 92.38 IDR 74
All 20 models by family
DCF Models
FCF DCF 92.38 IDR 184.76 IDR 38
Owner Earnings 92.38 IDR 92.38 IDR 31
5Y Revenue Exit 92.38 IDR 92.38 IDR 39
5Y EBITDA Exit 92.38 IDR 92.38 IDR 41
5Y P/E Exit 92.38 IDR 92.38 IDR 38
10Y Revenue Exit 92.38 IDR 92.38 IDR 36
10Y EBITDA Exit 92.38 IDR 92.38 IDR 37
10Y P/E Exit 92.38 IDR 92.38 IDR 35
Earnings-Based
Graham-Dodd 92.38 IDR 92.38 IDR 54
Multiples
P/E Multiple 92.38 IDR 92.38 IDR 63
P/S Multiple 92.38 IDR 58
P/B Multiple 92.38 IDR 55
EV/EBIT 92.38 IDR 92.38 IDR 53
EV/EBITDA 92.38 IDR 92.38 IDR 54
EV/Revenue 92.38 IDR 43
Growth DCF
Growth DCF 92.38 IDR 184.76 IDR 80
Rev-Margin DCF 92.38 IDR 92.38 IDR 74
Economic Profit
Residual Income 184.76 IDR 76
ROIC Compounder 92.38 IDR 72
Growth Earnings
Growth-Adj P/E 92.38 IDR 68

Widest divergence: DCF Models (92.38 IDR) versus DCF Models (92.38 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 3.4
P/S ratio 0.24 P/E × margin
EPS (TTM) 16.82 IDR price ÷ EPS = P/E 3.4
Net margin 6.9% FY2025
Return on equity -91.2% TTM
Return on assets (EBIT) 2.7% avg 5y
More key figures
Profitability
Operating margin 11.2% TTM
Growth
Revenue (TTM) 511M IDR TTM
Revenue growth (YoY) +20.5% 3y avg +26.7%
EPS growth (YoY) -46.5%
Balance sheet & cash flow
Free cash flow 60.9M IDR FY2025
Net debt 343M IDR FY2025 · ≈ 5.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 44 · Market factors (momentum, volatility) 37

Profitability 47
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 0
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT Garuda Maintenance Facility Aero Asia Tbk provides various aircraft maintenance, repair, and overhaul services in Indonesia. It operates through Repair and Maintenance Airframe, Engine, and Component; Line Maintenance and Technical Ground Handling; and Other Operations segments.

Full company description

PT Garuda Maintenance Facility Aero Asia Tbk provides various aircraft maintenance, repair, and overhaul services in Indonesia. It operates through Repair and Maintenance Airframe, Engine, and Component; Line Maintenance and Technical Ground Handling; and Other Operations segments. The company offers airframe and line maintenance, engine and APU maintenance, component, engineering, material, cabin, learning, ground support equipment, and painting services. It also provides aircraft military maintenance and land system defense services; control and protection services on engines, generators, and motors, as well as service of performance analysis and engineering service of electrical rotary machine and power plant; maintenance and services; repair, modification, and overhaul of industrial and aero derivatives gas turbine engines; repair and refurbishments of gas turbine components; and repair and overhaul of power generation services. In addition, the company is involved in the provision of aircraft on ground support services, as well as transportation consulting services; wholesale trade of aircraft equipment and its accessories; airport activities; and rental and leasing activities. PT Garuda Maintenance Facility Aero Asia Tbk was founded in 1949 and is headquartered in Tangerang, Indonesia. PT Garuda Maintenance Facility Aero Asia Tbk Is a subsidiary of PT Angkasa Pura Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Garuda Maintenance Facility AeroAsia Tbk PT reported revenue of $486M in FY2025 versus $211M in FY2021, a compound +23.2%/yr. Reported net income was $33.5M in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
486M IDR
Latest YoY
+15.3%
Avg. revenue 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.
+26.7%
Avg. revenue 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.
+13.9%
Avg. revenue growth/yr (15Y) 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.
+7.4%
Value creation/yr (3Y) Earnings growth per share (CAGR 3 years) plus dividend yield: value created per share and year.
+11.0% (11.0 + 0.0)
Revenue +23.2%/yr
FY21 $211M
FY22 $239M
FY23 $373M
FY24 $421M
FY25 $486M
Net income
FY21 −$127M
FY22 $3.6M
FY23 $20.3M
FY24 $26.9M
FY25 $33.5M
Character of growth · EPS growth decomposed (2014-2025) −6.6 % p.a.
Revenue per share −0.1 pp

of which total revenue +3.3 pp · buybacks/dilution −3.4 pp

EBIT margin −2.7 pp
Tax rate +2.7 pp
Residual (interest, one-offs) −6.4 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).

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Cite: Fair Value Calculator (2026). "Garuda Maintenance Facility AeroAsia Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/GMFI

Peer Group

Aerospace & Defense · 234 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 42 · Bottom 25%
Fair Value upside +35% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 21% · Above median
Debt / equity 3.08× · Higher than 75% of peers

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 3.4× · Cheaper than 75% of peers
P/FCF 11.5× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE81 · sector 0
FUTURE100 · sector 47
PAST0 · sector 38
HEALTH0 · sector 93
DIVIDEND0 · sector 15

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

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Frequently asked questions

Is Garuda Maintenance Facility AeroAsia Tbk PT (GMFI) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of 78.52 IDR versus a price of 58.00 IDR, about +35% (undervalued).
What is the fair value of GMFI?
Our model-based fair value for Garuda Maintenance Facility AeroAsia Tbk PT is 78.52 IDR (as of Aug 27, 2026), built from audited fundamentals. The current price: 58.00 IDR.
What is the quality score of GMFI?
Garuda Maintenance Facility AeroAsia Tbk PT has a Quality Score of 42/100. 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 Garuda Maintenance Facility AeroAsia Tbk PT (GMFI)?
Garuda Maintenance Facility AeroAsia Tbk PT reported trailing-twelve-month revenue of about 511M IDR (latest available figure, as of Aug 27, 2026).
What is the net profit margin of GMFI?
The net profit margin of Garuda Maintenance Facility AeroAsia Tbk PT is about 7.2%, meaning it keeps roughly 7.2% 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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