PT Arsy Buana Travelindo Tbk (HAJJ) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of PT Arsy Buana Travelindo Tbk IDR 84, price IDR 107, upside -21.8%, quality 36 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
42‑month range 78.00 IDR – 525.00 IDR · fair‑value band 60.66 IDR – 104.24 IDR · the 107.00 IDR price screens above the 83.72 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT Arsy Buana Travelindo Tbk operates as a travel bureau in Indonesia and internationally. The company provides hotel rooms, land arrangements, and airlines tickets. PT Arsy Buana Travelindo Tbk was founded in 2016 and is based in Tangerang Selatan, Indonesia. PT Arsy Buana Travelindo Tbk is a subsidiary of PT Madinah Iman Wisata.
Stock analysis
PT Arsy Buana Travelindo Tbk (HAJJ) currently trades at 107.00 IDR, while our model-based Fair Value estimate is 83.72 IDR, implying the stock looks roughly 27.8% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 86.65 IDR per share, and 4 of the 13 models we run sit above the 107.00 IDR price.
Bear case: the Asset-Based group reads lowest at 53.02 IDR, and 9 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 60.66 IDR (bear) to 104.24 IDR (bull), the price of 107.00 IDR sits above 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 36/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PT Arsy Buana Travelindo Tbk reported revenue of 945B IDR in FY2025 versus 318B IDR in FY2022, a compound +43.7%/yr. Reported net income was 6.0B IDR in FY2025, compounding +34.5%/yr from FY2022.
Key figures
Market cap 264B IDR (≈ $14.7M) · P/S ratio 0.28 · Net margin 0.6% · Return on equity 0.7% · Return on assets (EBIT) 5.6% · Operating margin 18.2% · Revenue (TTM) 907B IDR · Revenue growth (YoY) −11.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −22%, HAJJ screens richer than that median.
Fair Value models
Bear 60.66 IDRFair Value 83.72 IDRBull 104.24 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.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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+9.8%
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.
+43.7%
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in IDR (mathematically smoothed) ⓘ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 3 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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+12.1%
Dividend (yield on the price)0.0%
Profit margin 2022 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.1% → 4%
2025 sits 58% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Compare PT Arsy Buana Travelindo Tbk with another stock
Price, fair value, quality and upside side by side.
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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.Travel Services · 88 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−23% · Below median
Profitability
Return on equity (TTM)1% · Bottom 25%
Return on assets7% · Top 25%
Net margin (TTM)0% · Bottom 25%
Operating margin (TTM)18% · Top 25%
Growth and dividend
Revenue growth−12% · Bottom 25%
Balance sheet
Debt / equity0.46× · Above median
Valuation Multiplesvs Travel Services median · lower = cheaper
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Is PT Arsy Buana Travelindo Tbk (HAJJ) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 83.72 IDR versus a price of 107.00 IDR, about −22% upside (overvalued).
What is the fair value of HAJJ?
Our model-based fair value for PT Arsy Buana Travelindo Tbk is 83.72 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 107.00 IDR.
What is the quality score of HAJJ?
PT Arsy Buana Travelindo Tbk has a Quality Score of 36/100. 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 PT Arsy Buana Travelindo Tbk (HAJJ)?
Our model-based price target is the fair value of 83.72 IDR (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 60.66 IDR, optimistic scenario 104.24 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the PT Arsy Buana Travelindo Tbk stock forecast for 2026?
Our models put fair value at 83.72 IDR, about −22% upside versus a price of 107.00 IDR (overvalued). Cautious scenario 60.66 IDR, optimistic scenario 104.24 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of PT Arsy Buana Travelindo Tbk (HAJJ)?
PT Arsy Buana Travelindo Tbk reported trailing-twelve-month revenue of about 907B IDR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of PT Arsy Buana Travelindo Tbk (HAJJ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PT Arsy Buana Travelindo Tbk it is 83.72 IDR per share (as of Sep 24, 2026), against a price of 107.00 IDR. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is PT Arsy Buana Travelindo Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, HAJJ trades above its calculated fair value: price 107.00 IDR, fair value 83.72 IDR, a gap of about −22% (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 HAJJ?
No. The price is what the market pays today (107.00 IDR); the fair value is what the company's own numbers justify (83.72 IDR). For PT Arsy Buana Travelindo Tbk the two are 23.28 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is PT Arsy Buana Travelindo Tbk worth?
The market values PT Arsy Buana Travelindo Tbk at about 264B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 107.00 IDR; our models calculate a fair value of 83.72 IDR per share.
What do the bullish and bearish scenarios say about HAJJ?
Our models span a range for PT Arsy Buana Travelindo Tbk: cautious scenario 60.66 IDR, base 83.72 IDR, optimistic 104.24 IDR per share (as of Sep 24, 2026, price 107.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PT Arsy Buana Travelindo Tbk (HAJJ)?
Balance-sheet figures for PT Arsy Buana Travelindo Tbk (as of Sep 24, 2026): return on equity 0.7%, debt of 0.46 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is HAJJ from its 52-week high?
PT Arsy Buana Travelindo Tbk trades at 107.00 IDR, about 35% below its 52-week high of 165.00 IDR and 23% above the low of 87.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 83.72 IDR is for.
Which stocks are comparable to PT Arsy Buana Travelindo Tbk?
From the same area (Consumer Cyclical) we also value Booking Holdings, Airbnb, Inc, Royal Caribbean Cruises Ltd, Viking Holdings, 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 PT Arsy Buana Travelindo Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 107.00 IDR, calculated fair value 83.72 IDR (−22%), Quality Score 36/100, from 13 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 HAJJ calculated?
We run PT Arsy Buana Travelindo Tbk through 13 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 83.72 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 13.0 % above its aggregate fair value. PT Arsy Buana Travelindo Tbk itself currently trades above fair value. 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 PT Arsy Buana Travelindo Tbk (HAJJ)?
The closing price on Sep 24, 2026 was 107.00 IDR. Our model-based fair value is 83.72 IDR, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PT Arsy Buana Travelindo Tbk right now?
The price sits above even our optimistic bull case (104.24 IDR). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of PT Arsy Buana Travelindo Tbk
How large is the market capitalisation of PT Arsy Buana Travelindo Tbk (HAJJ)?
The market capitalisation of PT Arsy Buana Travelindo Tbk is 264B IDR (≈ $14.7M). 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 PT Arsy Buana Travelindo Tbk (HAJJ)?
The price-to-sales ratio of PT Arsy Buana Travelindo Tbk is 0.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of PT Arsy Buana Travelindo Tbk (HAJJ)?
The net margin of PT Arsy Buana Travelindo Tbk is 0.6% (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 PT Arsy Buana Travelindo Tbk (HAJJ)?
The return on equity (ROE) of PT Arsy Buana Travelindo Tbk is 0.7% (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 PT Arsy Buana Travelindo Tbk (HAJJ)?
On an EBIT basis the return on assets of PT Arsy Buana Travelindo Tbk is 5.6% (avg 4y). 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 PT Arsy Buana Travelindo Tbk (HAJJ)?
The operating margin of PT Arsy Buana Travelindo Tbk is 18.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PT Arsy Buana Travelindo Tbk (HAJJ)?
Revenue at PT Arsy Buana Travelindo Tbk is growing −11.5% versus a year earlier (3y avg +43.7%). 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 PT Arsy Buana Travelindo Tbk (HAJJ)?
Earnings per share at PT Arsy Buana Travelindo Tbk are growing −23.6% versus a year earlier. How much earnings per share grew versus a year earlier.
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