PT GoTo Gojek Tokopedia Tbk (GOTO) Fair Value & Analysis
Technology · ID · Market cap 53.1T IDR
Fair value as of: Jul 12, 2026
From 9 valuation models · updated 26 days ago
Below-average quality, and screening another 63% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (19.80 IDR). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
- The models converge in a tight band (17.54 IDR to 19.80 IDR), unusually little disagreement for a valuation.
Price vs Fair Value (4 years)
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
52‑month range 50.00 IDR – 404.00 IDR · fair‑value band 17.54 IDR – 19.80 IDR · the 50.00 IDR price screens above the 18.67 IDR fair value. Dashed = 300-day average. As of Jul 12, 2026.
Analysis
PT GoTo Gojek Tokopedia Tbk (GOTO) currently trades at 50.00 IDR, while our model-based Fair Value estimate is 18.67 IDR, implying the stock looks roughly 62.7% overvalued today. We read business quality at 48/100 (below-average quality), in the Technology 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).
Over the trailing twelve months, PT GoTo Gojek Tokopedia Tbk generated revenue of 19.4T IDR at a net margin of -3.3%. Revenue grew 26.3% year over year. It earns a return on equity of -3.3%. The balance sheet holds a net cash position of 15.0T IDR. Fundamentals as of Jul 12, 2026
Our scenario range runs from 17.54 IDR (bear case) to 19.80 IDR (bull case); at 50.00 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -53% fair-value upside, at -63%, GOTO 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 9 models by family
Widest divergence: Asset-Based (20.07 IDR) versus Multiples (15.93 IDR). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 35
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 GoTo Gojek Tokopedia Tbk provides and operates on-demand services in Indonesia and internationally. It offers Gojek on-demand services, including mobility, food delivery, and logistics through electronic media, software platforms, or applications to micro-entrepreneurs; GoTo Financial technology solutions, including consumer payments, lending, and …
Full company description
PT GoTo Gojek Tokopedia Tbk provides and operates on-demand services in Indonesia and internationally. It offers Gojek on-demand services, including mobility, food delivery, and logistics through electronic media, software platforms, or applications to micro-entrepreneurs; GoTo Financial technology solutions, including consumer payments, lending, and merchant services; and e-commerce services. The company also engages in retail trading of motor vehicle equipment; wholesale trading; digital identity provision activities; professional, and scientific and technical activities; repair of communication equipment; and operation of e-commerce marketplace and digital platform. In addition, it provides management consultancy, software development, package courier, electronic certificate and digital identity, financial intermediary, mobile advertising, data processing and information, motor vehicle rental, mobile and fixed advertising, transportation, online retail, web portal, financial transaction and payment technology, and point-of-sales technology, financing, trading, freight, management and administration, and warehousing and storage services. The company was founded in 2009 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 GoTo Gojek Tokopedia Tbk reported revenue of 18.3T IDR in FY2025 versus 4.5T IDR in FY2021, a compound +41.8%/yr. Reported net income was −1.2T IDR in FY2025.
GOTO screens 63% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 367 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.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| One97 Communications Limited PAYTM | ₹1,342 | ₹181.50 | -86% |
| Sangfor Technologies Inc 300454 | ¥88.80 | ¥16.46 | -81% |
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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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