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Data-driven stock valuation

GoTo Gojek Tokopedia PT (GOTO) fair value: what the stock is really worth

We calculate from audited financials what GoTo Gojek Tokopedia PT is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Technology · ID · Market cap 53.1T IDR (≈ $5.3B) · ISIN ID1000166903

At a glance

GG GoTo Gojek Tokopedia PT GOTO · JK
Price50.00 IDR
Fair Value20.41 IDR
Upside−59.2%
Quality57/100

A solid business, but trading 145% above our fair value of 20.41 IDR.

As of Aug 27, 2026, the fair value of GoTo Gojek Tokopedia PT is 20.41 IDR per share against a price of 50.00 IDR, so the fair value sits 59% below the price. A model estimate from reported figures, not an analyst target.

!Mixed Growth (revenue 5y +40.7 %/yr)
!Loss-making · -3.3% net margin
Low debt · generates free cash flow
!Mixed vs. peers (4/8)
!Narrow moat 23/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range 18.84 IDR to 21.98 IDR

Fair value as of: Aug 27, 2026

From 9 valuation models · updated 13 days ago

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What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (21.98 IDR). The favourable scenario is already priced in.
  • 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 but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (4 years)

404.00 IDR 50.00 IDR Fair Value 20.41 IDR Apr 2022 Sep 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

53‑month range 50.00 IDR – 404.00 IDR · fair‑value band 18.84 IDR – 21.98 IDR · the 50.00 IDR price screens above the 20.41 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

Full chart & analysis →

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Analysis

GoTo Gojek Tokopedia PT (GOTO) currently trades at 50.00 IDR, while our model-based Fair Value estimate is 20.41 IDR, implying the stock looks roughly 145.0% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Technology sector. Bull case: the Asset-Based group reads highest at a median of 20.07 IDR per share, and 0 of the 9 models we run sit above the 50.00 IDR price. Bear case: the Multiples group reads lowest at 15.93 IDR, and 9 of the 9 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, GoTo Gojek Tokopedia PT 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 Aug 27, 2026

Scenario range: 18.84 IDR (bear) to 21.98 IDR (bull), the price of 50.00 IDR sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a 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 −32% fair-value upside, at −59%, GOTO screens richer than that median.

Fair Value models

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

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
FCF DCF best evidence 16.04 IDR 16.27 IDR 17.03 IDR 80
Growth DCF 16.01 IDR 16.40 IDR 17.06 IDR 78
5Y EBITDA Exit 19.39 IDR 23.13 IDR 30.49 IDR 74
All 9 models by family
DCF Models
FCF DCF best evidence 16.04 IDR 16.27 IDR 17.03 IDR 80
5Y Revenue Exit 15.92 IDR 16.10 IDR 16.48 IDR 72
5Y EBITDA Exit 19.39 IDR 23.13 IDR 30.49 IDR 74
10Y Revenue Exit 15.95 IDR 16.28 IDR 16.48 IDR 66
10Y EBITDA Exit 18.55 IDR 23.94 IDR 33.92 IDR 67
Multiples
EV/EBITDA 20.36 IDR 21.93 IDR 23.50 IDR 67
EV/Revenue 15.85 IDR 15.93 IDR 16.02 IDR 54
Asset-Based
NCAV (Graham) 14.97 IDR 20.07 IDR 29.95 IDR 54
Growth DCF
Growth DCF 16.01 IDR 16.40 IDR 17.06 IDR 78

Widest divergence: Asset-Based (20.07 IDR) versus Multiples (15.93 IDR). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/S ratio 2.73 TTM
EPS (TTM) −0.6100 IDR
Net margin −6.5% FY2025
Return on equity −3.3% TTM
Return on assets (EBIT) −12.2% avg 5y
Operating margin 7.8% TTM
More key figures
Growth
Revenue (TTM) 19.4T IDR TTM
Revenue growth (YoY) +26.3% 3y avg +17.3%
Balance sheet & cash flow
Free cash flow 22.7B IDR FY2025
Net cash 15.0T IDR FY2025

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 53 · Market factors (momentum, volatility) 38

Profitability 15
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 83
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 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

GoTo Gojek Tokopedia PT 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.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
18.3T 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.
+17.3%
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.
+40.7%
Avg. revenue growth/yr (7Y) 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.
+43.9%
EBIT margin (trend) 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.
−442.6% (2020) → −2.1% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +41.8%/yr
FY21 4.5T IDR
FY22 11.3T IDR
FY23 14.8T IDR
FY24 15.9T IDR
FY25 18.3T IDR
Net income
FY21 −22.4T IDR
FY22 −40.4T IDR
FY23 −90.4T IDR
FY24 −5.2T IDR
FY25 −1.2T IDR

GOTO screens 145% overvalued. Compare with Microsoft Corporation →

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Cite: Fair Value Calculator (2026). "GoTo Gojek Tokopedia PT Fair Value". https://www.fairvalue-calculator.com/stock/GOTO

Peer Group

Software - Infrastructure · 369 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
Quality Score 57 · Above median
Profitability
Return on assets 0% · Below median
Net margin (TTM) −3% · Below median
Operating margin (TTM) 8% · Above median
Growth and dividend
Revenue growth 26% · Top 25%
Balance sheet
Debt / equity 0.19× · Above median

Valuation Multiples vs Software - Infrastructure median · lower = cheaper

P/FCF 0.2× · Cheapest 25%

Context: sector, industry, market

Strength profile in five axes (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
VALUE0 · sector 0
FUTURE100 · sector 48
PAST0 · sector 15
HEALTH90 · sector 98
DIVIDEND0 · sector 26

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.

None of the checked exposures detected

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $480.35 $365.74 −24%
Oracle Corporation ORCL $158.78 $117.84 −26%
Palo Alto Networks, Inc PANW $333.26 $36.50 −89%
Fortinet, Inc FTNT $156.29 $61.46 −61%
Synopsys, Inc SNPS $393.84 $101.19 −74%
Block, Inc XYZ A$111.01 A$70.69 −36%
CoreWeave, Inc CRWV $105.26 $71.79 −32%
NetApp, Inc NTAP $190.64 $154.83 −19%
Adyen N.V ADYEN €1,007 €707.53 −30%
MongoDB, Inc MDB $368.74 $93.91 −75%

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Frequently asked questions

Is GoTo Gojek Tokopedia PT (GOTO) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of 20.41 IDR versus a price of 50.00 IDR, about −59% upside (overvalued).
What is the fair value of GOTO?
Our model-based fair value for GoTo Gojek Tokopedia PT is 20.41 IDR (as of Aug 27, 2026), built from audited fundamentals. The current price: 50.00 IDR.
What is the quality score of GOTO?
GoTo Gojek Tokopedia PT has a Quality Score of 57/100. 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 GoTo Gojek Tokopedia PT (GOTO)?
Our model-based price target is the fair value of 20.41 IDR (as of Aug 27, 2026) from 9 valuation models. Cautious scenario 18.84 IDR, optimistic scenario 21.98 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the GoTo Gojek Tokopedia PT stock forecast for 2026?
Our models put fair value at 20.41 IDR, about −59% upside versus a price of 50.00 IDR (overvalued). Cautious scenario 18.84 IDR, optimistic scenario 21.98 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of GoTo Gojek Tokopedia PT (GOTO)?
GoTo Gojek Tokopedia PT reported trailing-twelve-month revenue of about 19.4T IDR (latest available figure, as of Aug 27, 2026).
What is the net profit margin of GOTO?
The net profit margin of GoTo Gojek Tokopedia PT is about −3.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
What is the intrinsic value of GoTo Gojek Tokopedia PT (GOTO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GoTo Gojek Tokopedia PT it is 20.41 IDR per share (as of Aug 27, 2026), against a price of 50.00 IDR. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is GoTo Gojek Tokopedia PT stock overvalued or undervalued in 2026?
As of Aug 27, 2026, GOTO trades above its calculated fair value: price 50.00 IDR, fair value 20.41 IDR, a gap of about −59% (overvalued). 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 GOTO?
No. The price is what the market pays today (50.00 IDR); the fair value is what the company's own numbers justify (20.41 IDR). For GoTo Gojek Tokopedia PT the two are 29.59 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is GoTo Gojek Tokopedia PT worth?
The market values GoTo Gojek Tokopedia PT at about 53.1T IDR (market capitalisation, as of Aug 27, 2026). Per share that is 50.00 IDR; our models calculate a fair value of 20.41 IDR per share.
What do the bullish and bearish scenarios say about GOTO?
Our models span a range for GoTo Gojek Tokopedia PT: cautious scenario 18.84 IDR, base 20.41 IDR, optimistic 21.98 IDR per share (as of Aug 27, 2026, price 50.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of GoTo Gojek Tokopedia PT (GOTO)?
Balance-sheet figures for GoTo Gojek Tokopedia PT (as of Aug 27, 2026): return on equity −3.3%, debt of 0.19 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is GOTO from its 52-week high?
GoTo Gojek Tokopedia PT trades at 50.00 IDR, about 32% below its 52-week high of 73.00 IDR (as of Aug 27, 2026). Distance from the high says nothing about value: that is what the fair value of 20.41 IDR is for.
Which stocks are comparable to GoTo Gojek Tokopedia PT?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palo Alto Networks, Inc, Fortinet, Inc, 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 GoTo Gojek Tokopedia PT stock attractive at the current price?
The data as of Aug 27, 2026: price 50.00 IDR, calculated fair value 20.41 IDR (−59%), Quality Score 57/100, from 9 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 GOTO calculated?
We run GoTo Gojek Tokopedia PT through 9 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 20.41 IDR, with the spread shown as a cautious and an optimistic scenario.
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