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PT Medikaloka Hermina Tbk, (HEAL) Fair Value & Analysis

Healthcare · ID · Market cap 13.9T IDR

PM PT Medikaloka Hermina Tbk, HEAL · JK
Price780.00 IDR
Fair Value598.99 IDR
Upside-23.2%
Quality40/100
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Expensive Growth
Thin margins · 5.6% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/14)
Narrow moat 43/100
Evidence: Medium Range 419.29 IDR – 771.10 IDR Share as image

Fair value as of: Jul 12, 2026

From 14 valuation models · updated 28 days ago

Share price −14.8% over the past month.

Below-average quality, and screening another 23% overvalued on our models.

What matters now

  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (419.29 IDR to 771.10 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1,739 IDR 765.00 IDR Fair Value 598.99 IDR Feb 2021 Aug 2026

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

60‑month range 765.00 IDR – 1,739 IDR · fair‑value band 419.29 IDR – 771.10 IDR · the 780.00 IDR price screens above the 598.99 IDR fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

PT Medikaloka Hermina Tbk, (HEAL) currently trades at 780.00 IDR, while our model-based Fair Value estimate is 598.99 IDR, implying the stock looks roughly 23.2% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Healthcare 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 Medikaloka Hermina Tbk, generated revenue of 7.2T IDR at a net margin of 5.6%. Revenue grew 5.4% year over year. It earns a return on equity of 7.8%. Net debt stands at 2.5T IDR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 419.29 IDR (bear case) to 771.10 IDR (bull case); at 780.00 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 56% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -23%, HEAL 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income 309.92 IDR 331.70 IDR 376.89 IDR 76
ROIC Compounder 355.33 IDR 536.70 IDR 732.55 IDR 72
Growth-Adj P/E 419.29 IDR 598.99 IDR 778.69 IDR 68
All 14 models by family
Earnings-Based
Graham-Dodd 190.67 IDR 1,002 IDR 1,387 IDR 54
Lynch FV 275.19 IDR 393.12 IDR 511.06 IDR 50
PEG = 1.0 275.19 IDR 393.12 IDR 511.06 IDR 46
EPV 355.33 IDR 440.05 IDR 515.36 IDR 59
Multiples
P/E Multiple 462.66 IDR 616.88 IDR 771.10 IDR 63
P/S Multiple 357.51 IDR 476.68 IDR 595.85 IDR 58
P/B Multiple 357.51 IDR 476.68 IDR 595.85 IDR 55
EV/EBIT 658.74 IDR 919.90 IDR 1,181 IDR 53
EV/EBITDA 1,124 IDR 1,540 IDR 1,957 IDR 54
EV/Revenue 434.44 IDR 674.10 IDR 913.75 IDR 43
Asset-Based
NCAV (Graham) 185.28 IDR 248.27 IDR 370.56 IDR 50
Economic Profit
Residual Income 309.92 IDR 331.70 IDR 376.89 IDR 76
ROIC Compounder 355.33 IDR 536.70 IDR 732.55 IDR 72
Growth Earnings
Growth-Adj P/E 419.29 IDR 598.99 IDR 778.69 IDR 68

Widest divergence: Multiples (616.88 IDR) versus Asset-Based (248.27 IDR). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 7.2T IDR
Revenue growth (YoY) +5.4%
Net margin 5.6%
Return on equity 7.8%
Free cash flow −612B IDR FY2025
P/E ratio 34.0
More key figures
Operating margin 12.5%
EPS (TTM) 26.61 IDR
EPS growth (YoY) -18.7%
Net debt 2.5T IDR FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 43 · Market factors (momentum, volatility) 27

Profitability 36
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 10
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 65
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.

About the company

PT Medikaloka Hermina Tbk, together with its subsidiaries, operates a network of hospitals in Indonesia. The company offers services in the areas of medical acupuncture, pediatrics, surgery, plastic and reconstructive surgery, neurosurgery, emergency medicine, forensic and medicolegal, dentistry, clinical nutrition, integrative medicine, cardiology, …

Full company description

PT Medikaloka Hermina Tbk, together with its subsidiaries, operates a network of hospitals in Indonesia. The company offers services in the areas of medical acupuncture, pediatrics, surgery, plastic and reconstructive surgery, neurosurgery, emergency medicine, forensic and medicolegal, dentistry, clinical nutrition, integrative medicine, cardiology, obstetrics and gynecology, primary care family medicine, nuclear medicine and molecular theranostics, psychiatry, andrology, dietetics, lactation counseling, and dermatology and venereology. It also provides services in the areas of ophthalmology, clinical microbiology, pediatric neurology, occupational, radiation oncology, orthopedics and traumatology, pulmonology, anatomical pathology, clinical pathology, anesthesiology, internal medicine, psychology, radiology, physical medicine and rehabilitation, neurology, sports medicine specialist, aviation specialist, radiation specialist, otorhinolaryngology, occupational therapy, and urology. In addition, the company offers digital subtraction angiography, gastroenterology, IVF clinic, sleep and snoring clinic, pain clinic, growth and development clinic, stem cell, palliative care, perinatology ward, integrated stroke, and medical tourism services. Further, it is involved in investment, service, trading, management consulting, nurse training, and education services. PT Medikaloka Hermina Tbk was founded in 1985 and is headquartered in Jakarta Timur, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Medikaloka Hermina Tbk, reported revenue of 7.1T IDR in FY2025 versus 5.8T IDR in FY2021, a compound +5.2%/yr. Reported net income was 430B IDR in FY2025, compounding −19.0%/yr from FY2021.

Growth Quality 43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
7.1T IDR
Latest YoY
+5.9%
Avg. growth/yr (3Y)
+13.3%
Avg. growth/yr (5Y)
+10.1%
Avg. growth/yr (10Y)
+15.4%
Revenue +5.2%/yr
FY21 5.8T IDR
FY22 4.9T IDR
FY23 5.8T IDR
FY24 6.7T IDR
FY25 7.1T IDR
Net income −19.0%/yr
FY21 996B IDR
FY22 299B IDR
FY23 437B IDR
FY24 536B IDR
FY25 430B IDR

HEAL screens 23% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "PT Medikaloka Hermina Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/HEAL

Peer Group

Medical Care Facilities · 262 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 40 · Bottom 25%
Fair Value upside −23% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 13% · Above median
Revenue growth 5% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.47× · Higher than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 34.0× · Pricier than median
P/B 2.44× · Pricier than median
P/S (TTM) 1.92× · Pricier than median
EV/EBITDA 8.2× · Cheaper than median
PEG 5.73× · Pricier than 75% of peers

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 2 · sector 22
FUTURE 27 · sector 24
PAST 31 · sector 30
HEALTH 77 · sector 90
DIVIDEND 0 · sector 38

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is PT Medikaloka Hermina Tbk, (HEAL) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 598.99 IDR versus a price of 780.00 IDR, about −23% (overvalued).
What is the fair value of HEAL?
Our model-based fair value for PT Medikaloka Hermina Tbk, is 598.99 IDR (as of Jul 12, 2026), built from audited fundamentals. The current price is 780.00 IDR.
What is the quality score of HEAL?
PT Medikaloka Hermina Tbk, has a Quality Score of 40/100. 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 PT Medikaloka Hermina Tbk, (HEAL)?
PT Medikaloka Hermina Tbk, reported trailing-twelve-month revenue of about 7.2T IDR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of HEAL?
The net profit margin of PT Medikaloka Hermina Tbk, is about 5.6%, meaning it keeps roughly 5.6% 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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