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PT Era Graharealty Tbk (IPAC) Fair Value & Analysis

Real Estate · ID · Market cap 156B IDR

PE PT Era Graharealty Tbk IPAC · JK
Price173.00 IDR
Fair Value54.80 IDR
Upside-68.3%
Quality69/100
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Healthy Growth
Thin margins · 2.1% net margin
Low debt · generates free cash flow
Trails peers (4/13)
Narrow moat 23/100
Evidence: Medium Range 46.09 IDR – 63.51 IDR Share as image

Fair value as of: Jul 16, 2026

From 14 valuation models · updated 25 days ago

Share price +1.2% over the past month.

A solid business, but screening 68% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (63.51 IDR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (69/100) 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.
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Price vs Fair Value (5 years)

418.00 IDR 73.00 IDR Fair Value 54.80 IDR Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 73.00 IDR – 418.00 IDR · fair‑value band 46.09 IDR – 63.51 IDR · the 173.00 IDR price screens above the 54.80 IDR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Era Graharealty Tbk (IPAC) currently trades at 173.00 IDR, while our model-based Fair Value estimate is 54.80 IDR, implying the stock looks roughly 68.3% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Real Estate 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 Era Graharealty Tbk generated revenue of 57.2B IDR at a net margin of 2.1%. Revenue declined 9.4% year over year. It earns a return on equity of 1.2%. The balance sheet holds a net cash position of 24.5B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 46.09 IDR (bear case) to 63.51 IDR (bull case); at 173.00 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 62% below its 52-week high and 60% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -13% fair-value upside, at -68%, IPAC 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 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
Growth DCF 103.48 IDR 170.32 IDR 305.41 IDR 80
Rev-Margin DCF 66.64 IDR 94.42 IDR 149.41 IDR 74
Residual Income 29.34 IDR 29.55 IDR 27.95 IDR 61
All 14 models by family
DCF Models
FCF DCF 108.39 IDR 155.77 IDR 306.66 IDR 38
5Y Revenue Exit 64.83 IDR 85.67 IDR 128.63 IDR 39
5Y EBITDA Exit 95.84 IDR 148.37 IDR 251.33 IDR 41
10Y Revenue Exit 77.24 IDR 120.87 IDR 143.01 IDR 36
10Y EBITDA Exit 100.79 IDR 187.64 IDR 337.39 IDR 37
Multiples
P/S Multiple 23.57 IDR 31.43 IDR 39.29 IDR 58
P/B Multiple 23.57 IDR 31.43 IDR 39.29 IDR 55
EV/EBIT 62.62 IDR 74.89 IDR 87.17 IDR 53
EV/EBITDA 88.60 IDR 109.54 IDR 130.48 IDR 54
EV/Revenue 46.09 IDR 54.80 IDR 63.51 IDR 43
Asset-Based
NCAV (Graham) 19.25 IDR 25.79 IDR 38.49 IDR 50
Growth DCF
Growth DCF 103.48 IDR 170.32 IDR 305.41 IDR 80
Rev-Margin DCF 66.64 IDR 94.42 IDR 149.41 IDR 74
Economic Profit
Residual Income 29.34 IDR 29.55 IDR 27.95 IDR 61

Widest divergence: DCF Models (148.37 IDR) versus Asset-Based (25.79 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 57.2B IDR
Revenue growth (YoY) -9.4%
Net margin 2.1%
Return on equity 1.2%
Free cash flow 4.7B IDR FY2025
P/E ratio 34.0
More key figures
Operating margin -15.5%
EPS (TTM) 3.82 IDR
EPS growth (YoY) +47.3%
Net cash 24.5B IDR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 72 · Market factors (momentum, volatility) 45

Profitability 49
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 77
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 Era Graharealty Tbk provides property brokerage services in Indonesia. It engages in the property agency, real estate on contract basis; services related to real estate such as real estate agent and broker activities, brokerage of buying, selling and renting real estate on a fee or contract basis, real estate management and development, real estate …

Full company description

PT Era Graharealty Tbk provides property brokerage services in Indonesia. It engages in the property agency, real estate on contract basis; services related to real estate such as real estate agent and broker activities, brokerage of buying, selling and renting real estate on a fee or contract basis, real estate management and development, real estate appraisal services; real estate agent services covering a market of franchise fees and royalties. The company was incorporated in 1991 and is headquartered in Jakarta Pusat, Indonesia. PT Era Graharealty Tbk operates as a subsidiary of APAC Investment 2 Pte Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Era Graharealty Tbk reported revenue of 57.7B IDR in FY2025 versus 20.3B IDR in FY2021, a compound +29.9%/yr. Reported net income was 1.8B IDR in FY2025, compounding −18.1%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
57.7B IDR
Latest YoY
+32.3%
Avg. 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.
+30.5%
Avg. 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.
+29.1%
Avg. growth/yr (6Y) 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.
+16.4%
Revenue +29.9%/yr
FY21 20.3B IDR
FY22 26.0B IDR
FY23 28.8B IDR
FY24 43.6B IDR
FY25 57.7B IDR
Net income −18.1%/yr
FY21 3.9B IDR
FY22 4.7B IDR
FY23 3.0B IDR
FY24 461M IDR
FY25 1.8B IDR

IPAC screens 68% overvalued. Compare with Vingroup Joint Stock Company →

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Cite: Fair Value Calculator (2026). "PT Era Graharealty Tbk Fair Value". https://www.fairvalue-calculator.com/stock/IPAC

Peer Group

Real Estate Services · 520 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 69 · Top 25%
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 2% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) -15% · Bottom 25%
Revenue growth -9% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 42.9× · Pricier than 75% of peers
P/B 4.26× · Pricier than 75% of peers
P/S (TTM) 2.73× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 45.4× · 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 0 · sector 37
FUTURE 0 · sector 10
PAST 5 · sector 16
HEALTH 99 · sector 85
DIVIDEND 0 · sector 49

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

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

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.92 HK$34.92 -13%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
WHA Corporation WHAR 5.45 THB 4.14 THB -24%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%

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Frequently asked questions

Is PT Era Graharealty Tbk (IPAC) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 54.80 IDR versus a price of 173.00 IDR, about −68% (overvalued).
What is the fair value of IPAC?
Our model-based fair value for PT Era Graharealty Tbk is 54.80 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 173.00 IDR.
What is the quality score of IPAC?
PT Era Graharealty Tbk has a Quality Score of 69/100. 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 Era Graharealty Tbk (IPAC)?
PT Era Graharealty Tbk reported trailing-twelve-month revenue of about 57.2B IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of IPAC?
The net profit margin of PT Era Graharealty Tbk is about 2.1%, meaning it keeps roughly 2.1% 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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