MNC Vision Networks PT (IPTV) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of MNC Vision Networks PT IDR 39, price IDR 26, upside +50.9%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT MNC Vision Networks Tbk, together with its subsidiaries, provides satellite, digital, and internet protocol television (IPTV) services in Indonesia. It operates through the Satellite Services; Digital, IPTV and Broadband Services; and Others segments. The company offers broadcast content through DTH Pay-TV and IPTV; as well as fixed broadband services.
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PT MNC Vision Networks Tbk, together with its subsidiaries, provides satellite, digital, and internet protocol television (IPTV) services in Indonesia. It operates through the Satellite Services; Digital, IPTV and Broadband Services; and Others segments. The company offers broadcast content through DTH Pay-TV and IPTV; as well as fixed broadband services. It also produces multiple content genres from entertainment to news content. The company was formerly known as PT Sky Vision Networks and changed its name to PT MNC Vision Networks Tbk in February 2018. The company was founded in 2006 and is based in Jakarta Pusat, Indonesia. PT MNC Vision Networks is a subsidiary of PT Global Mediacom Tbk.
Stock analysis
MNC Vision Networks PT (IPTV) currently trades at 26.00 IDR, while our model-based Fair Value estimate is 39.23 IDR, implying the stock looks roughly 33.7% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 92.79 IDR per share, and 10 of the 10 models we run sit above the 26.00 IDR price.
Bear case: the DCF Models group reads lowest at 41.88 IDR, and 0 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: 30.87 IDR (bear) to 50.83 IDR (bull), the price of 26.00 IDR sits below 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 56/100 (solid quality), in the Communication Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
MNC Vision Networks PT reported revenue of 1.5T IDR in FY2025 versus 3.7T IDR in FY2021, a compound −19.8%/yr. Reported net income was −237B IDR in FY2025.
Key figures
Market cap 1.4T IDR (≈ $75.5M) · P/S ratio 0.88 · EPS (TTM) −4.09 IDR · Net margin −15.3% · Return on equity −2.6% · Return on assets (EBIT) −0.2% · Operating margin 1.7% · Revenue (TTM) 1.5T IDR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 61% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −3% fair-value upside, at 51%, IPTV screens cheaper than that median.
Fair Value models
Bear 30.87 IDRFair Value 39.23 IDRBull 50.83 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.23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.8%
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.
−16.7%
Revenue growth 5 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.
−15.9%
Start year 2020 (pandemic)
Revenue growth 9 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.
−7.1%
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Profit 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.
12.6% (2020) → −3.1% (2025)
What shareholders gained per year ⓘ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
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
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.Entertainment · 263 stocks
Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+40% · Above median
Profitability
Return on assets0% · Below median
Net margin (TTM)−11% · Below median
Operating margin (TTM)2% · Above median
Growth and dividend
Revenue growth−1% · Below median
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Entertainment median · lower = cheaper
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Is MNC Vision Networks PT (IPTV) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 39.23 IDR versus a price of 26.00 IDR, about +51% upside (undervalued).
What is the fair value of IPTV?
Our model-based fair value for MNC Vision Networks PT is 39.23 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 26.00 IDR.
What is the quality score of IPTV?
MNC Vision Networks PT has a Quality Score of 56/100. 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 MNC Vision Networks PT (IPTV)?
Our model-based price target is the fair value of 39.23 IDR (as of Sep 24, 2026) from 10 valuation models. Cautious scenario 30.87 IDR, optimistic scenario 50.83 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the MNC Vision Networks PT stock forecast for 2026?
Our models put fair value at 39.23 IDR, about +51% upside versus a price of 26.00 IDR (undervalued). Cautious scenario 30.87 IDR, optimistic scenario 50.83 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of MNC Vision Networks PT (IPTV)?
MNC Vision Networks PT reported trailing-twelve-month revenue of about 1.5T IDR (latest available figure, as of Sep 24, 2026).
What growth is priced into MNC Vision Networks PT (IPTV)?
For today's price to be fair in a discounted-cash-flow model, MNC Vision Networks PT would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -15.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of IPTV use?
Our models discount MNC Vision Networks PT at 13.5 %: a base by market capitalisation (micro), damped by beta 0.07, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For MNC Vision Networks PT that is less than minus 40 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has MNC Vision Networks PT (IPTV) delivered so far?
Over the past 5 years revenue at MNC Vision Networks PT grew -15.9 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of MNC Vision Networks PT (IPTV) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into MNC Vision Networks PT (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of MNC Vision Networks PT (IPTV)?
The free-cash-flow yield on the price is 16.23 %: that much free cash flow MNC Vision Networks PT produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MNC Vision Networks PT (IPTV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MNC Vision Networks PT it is 39.23 IDR per share (as of Sep 24, 2026), against a price of 26.00 IDR. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is MNC Vision Networks PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, IPTV trades below its calculated fair value: price 26.00 IDR, fair value 39.23 IDR, a gap of about +51% (undervalued). 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 IPTV?
No. The price is what the market pays today (26.00 IDR); the fair value is what the company's own numbers justify (39.23 IDR). For MNC Vision Networks PT the two are 13.23 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is MNC Vision Networks PT worth?
The market values MNC Vision Networks PT at about 1.4T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 26.00 IDR; our models calculate a fair value of 39.23 IDR per share.
What do the bullish and bearish scenarios say about IPTV?
Our models span a range for MNC Vision Networks PT: cautious scenario 30.87 IDR, base 39.23 IDR, optimistic 50.83 IDR per share (as of Sep 24, 2026, price 26.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of MNC Vision Networks PT (IPTV)?
Balance-sheet figures for MNC Vision Networks PT (as of Sep 24, 2026): return on equity −2.6%, debt of 0.03 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is IPTV from its 52-week high?
MNC Vision Networks PT trades at 26.00 IDR, about 61% below its 52-week high of 66.00 IDR and at the low of 26.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 39.23 IDR is for.
Which stocks are comparable to MNC Vision Networks PT?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Warner Bros. Discovery, Inc, Live Nation Entertainment, 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 MNC Vision Networks PT stock attractive at the current price?
The data as of Sep 24, 2026: price 26.00 IDR, calculated fair value 39.23 IDR (+51%), Quality Score 56/100, from 10 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 IPTV calculated?
We run MNC Vision Networks PT through 10 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 39.23 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. MNC Vision Networks PT currently trades 51 % below its own fair value, and the market average says nothing about that. 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 MNC Vision Networks PT (IPTV)?
The closing price on Sep 24, 2026 was 26.00 IDR. Our model-based fair value is 39.23 IDR, about +51% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MNC Vision Networks PT right now?
The price is below even our cautious bear case (30.87 IDR). The market is more pessimistic than our downside scenario. 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 quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of MNC Vision Networks PT
How large is the market capitalisation of MNC Vision Networks PT (IPTV)?
The market capitalisation of MNC Vision Networks PT is 1.4T IDR (≈ $75.5M). 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 MNC Vision Networks PT (IPTV)?
The price-to-sales ratio of MNC Vision Networks PT is 0.88 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of MNC Vision Networks PT (IPTV)?
Earnings per share at MNC Vision Networks PT are −4.09 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of MNC Vision Networks PT (IPTV)?
The net margin of MNC Vision Networks PT is −15.3% (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 MNC Vision Networks PT (IPTV)?
The return on equity (ROE) of MNC Vision Networks PT is −2.6% (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 MNC Vision Networks PT (IPTV)?
On an EBIT basis the return on assets of MNC Vision Networks PT is −0.2% (avg 5y). 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 MNC Vision Networks PT (IPTV)?
The operating margin of MNC Vision Networks PT is 1.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MNC Vision Networks PT (IPTV)?
Revenue at MNC Vision Networks PT is growing −1.0% versus a year earlier (3y avg −16.7%). 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 MNC Vision Networks PT (IPTV)?
Earnings per share at MNC Vision Networks PT are growing +108% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does MNC Vision Networks PT (IPTV) carry?
The net debt of MNC Vision Networks PT is 502B IDR (fiscal year 2025, ≈ 2.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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