PT Minahasa Membangun Hebat Tbk (HBAT) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of PT Minahasa Membangun Hebat Tbk IDR 50, price IDR 408, upside -87.8%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Minahasa Membangun Hebat Tbk engages in the property development business in Indonesia. It also provides internal facilities for residents, including the clubhouse, panoramic swimming pool, barbeque pit, and communal area. The company was founded in 2020 and is headquartered in Minahasa, Indonesia.
Stock analysis
PT Minahasa Membangun Hebat Tbk (HBAT) currently trades at 408.00 IDR, while our model-based Fair Value estimate is 49.73 IDR, implying the stock looks roughly 720.3% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 61.50 IDR per share, and 0 of the 11 models we run sit above the 408.00 IDR price.
Bear case: the Multiples group reads lowest at 44.78 IDR, and 11 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 43.85 IDR (bear) to 62.56 IDR (bull), the price of 408.00 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 46/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
PT Minahasa Membangun Hebat Tbk reported revenue of 24.5B IDR in FY2025 versus 33.9B IDR in FY2022, a compound −10.2%/yr. Reported net income was 2.7B IDR in FY2025, compounding −41.8%/yr from FY2022.
Key figures
Market cap 425B IDR (≈ $42.5M) · P/S ratio 10.4 · Net margin 11.2% · Return on equity 2.1% · Return on assets (EBIT) 15.7% · Operating margin 12.3% · Revenue (TTM) 23.0B IDR · Revenue growth (YoY) −12.5%.
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 22% below its 52-week high and 146% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −88%, HBAT screens richer than that median.
Fair Value models
Bear 43.85 IDRFair Value 49.73 IDRBull 62.56 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−37.9%
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.
−10.2%
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in IDR ⓘ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. 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.
−38.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−38.5%
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.41% → 11%
Compare PT Minahasa Membangun Hebat Tbk with another stock
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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.Real Estate - Development · 578 stocks
Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−88% · Bottom 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets2% · Above median
Net margin (TTM)8% · Above median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth−13% · Below median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 47
FUTURE (revenue growth)0· sector 0
PAST (return on equity)9· sector 11
HEALTH (low debt)0· sector 83
DIVIDEND (yield)0· sector 56
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "PT Minahasa Membangun Hebat Tbk Fair Value". https://www.fairvalue-calculator.com/stock/HBAT
Frequently asked questions
Is PT Minahasa Membangun Hebat Tbk (HBAT) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 49.73 IDR versus a price of 408.00 IDR, about −88% upside (overvalued).
What is the fair value of HBAT?
Our model-based fair value for PT Minahasa Membangun Hebat Tbk is 49.73 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 408.00 IDR.
What is the quality score of HBAT?
PT Minahasa Membangun Hebat Tbk has a Quality Score of 46/100. 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 Minahasa Membangun Hebat Tbk (HBAT)?
Our model-based price target is the fair value of 49.73 IDR (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 43.85 IDR, optimistic scenario 62.56 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the PT Minahasa Membangun Hebat Tbk stock forecast for 2026?
Our models put fair value at 49.73 IDR, about −88% upside versus a price of 408.00 IDR (overvalued). Cautious scenario 43.85 IDR, optimistic scenario 62.56 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of PT Minahasa Membangun Hebat Tbk (HBAT)?
PT Minahasa Membangun Hebat Tbk reported trailing-twelve-month revenue of about 23.0B IDR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of PT Minahasa Membangun Hebat Tbk (HBAT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PT Minahasa Membangun Hebat Tbk it is 49.73 IDR per share (as of Sep 24, 2026), against a price of 408.00 IDR. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is PT Minahasa Membangun Hebat Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, HBAT trades above its calculated fair value: price 408.00 IDR, fair value 49.73 IDR, a gap of about −88% (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 HBAT?
No. The price is what the market pays today (408.00 IDR); the fair value is what the company's own numbers justify (49.73 IDR). For PT Minahasa Membangun Hebat Tbk the two are 358.27 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is PT Minahasa Membangun Hebat Tbk worth?
The market values PT Minahasa Membangun Hebat Tbk at about 425B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 408.00 IDR; our models calculate a fair value of 49.73 IDR per share.
What do the bullish and bearish scenarios say about HBAT?
Our models span a range for PT Minahasa Membangun Hebat Tbk: cautious scenario 43.85 IDR, base 49.73 IDR, optimistic 62.56 IDR per share (as of Sep 24, 2026, price 408.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PT Minahasa Membangun Hebat Tbk (HBAT)?
Balance-sheet figures for PT Minahasa Membangun Hebat Tbk (as of Sep 24, 2026): return on equity 2.1%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is HBAT from its 52-week high?
PT Minahasa Membangun Hebat Tbk trades at 408.00 IDR, about 22% below its 52-week high of 525.00 IDR and 146% above the low of 166.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 49.73 IDR is for.
Which stocks are comparable to PT Minahasa Membangun Hebat Tbk?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset 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 Minahasa Membangun Hebat Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 408.00 IDR, calculated fair value 49.73 IDR (−88%), Quality Score 46/100, from 11 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 HBAT calculated?
We run PT Minahasa Membangun Hebat Tbk through 11 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 49.73 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 14.1 % above its aggregate fair value. PT Minahasa Membangun Hebat 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 Minahasa Membangun Hebat Tbk (HBAT)?
The closing price on Sep 23, 2026 was 408.00 IDR. Our model-based fair value is 49.73 IDR, about −88% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PT Minahasa Membangun Hebat Tbk right now?
The price sits above even our optimistic bull case (62.56 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 (46/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of PT Minahasa Membangun Hebat Tbk
How large is the market capitalisation of PT Minahasa Membangun Hebat Tbk (HBAT)?
The market capitalisation of PT Minahasa Membangun Hebat Tbk is 425B IDR (≈ $42.5M). 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 Minahasa Membangun Hebat Tbk (HBAT)?
The price-to-sales ratio of PT Minahasa Membangun Hebat Tbk is 10.4 (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 Minahasa Membangun Hebat Tbk (HBAT)?
The net margin of PT Minahasa Membangun Hebat Tbk is 11.2% (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 Minahasa Membangun Hebat Tbk (HBAT)?
The return on equity (ROE) of PT Minahasa Membangun Hebat Tbk is 2.1% (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 Minahasa Membangun Hebat Tbk (HBAT)?
On an EBIT basis the return on assets of PT Minahasa Membangun Hebat Tbk is 15.7% (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 Minahasa Membangun Hebat Tbk (HBAT)?
The operating margin of PT Minahasa Membangun Hebat Tbk is 12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PT Minahasa Membangun Hebat Tbk (HBAT)?
Revenue at PT Minahasa Membangun Hebat Tbk is growing −12.5% versus a year earlier (3y avg −10.2%). 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 Minahasa Membangun Hebat Tbk (HBAT)?
Earnings per share at PT Minahasa Membangun Hebat Tbk are growing −48.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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