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PT Jakarta Setiabudi Internasional Tbk (JSPT) Fair Value & Analysis

Real Estate · ID · Market cap 3.3T IDR

PJ PT Jakarta Setiabudi Internasional Tbk JSPT · JK
Price1,380 IDR
Fair Value2,829 IDR
Upside+105.0%
Quality66/100
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Healthy Growth
Solidly profitable · 14.8% net margin
Moderate debt · generates free cash flow
Ranks above peers (12/15)
Wide moat 67/100
Evidence: Medium Range 2,122 IDR – 3,536 IDR Share as image

Fair value as of: Jul 13, 2026

From 26 valuation models · updated 28 days ago

Share price −2.8% over the past month.

A solid business, screening 105% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (2,122 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • 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)

20,779 IDR 714.20 IDR Fair Value 2,829 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 714.20 IDR – 20,779 IDR · fair‑value band 2,122 IDR – 3,536 IDR · the 1,380 IDR price screens below the 2,829 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

PT Jakarta Setiabudi Internasional Tbk (JSPT) currently trades at 1,380 IDR, while our model-based Fair Value estimate is 2,829 IDR, implying the stock looks roughly 105.0% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PT Jakarta Setiabudi Internasional Tbk generated revenue of 2.6T IDR at a net margin of 14.8%. Revenue grew 29.8% year over year. It earns a return on equity of 14.6%. Net debt stands at 754B IDR. Fundamentals as of Jul 13, 2026

Our scenario range runs from 2,122 IDR (bear case) to 3,536 IDR (bull case); at 1,380 IDR, the current price sits below 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 79% below its 52-week high and 35% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -9% fair-value upside, at 105%, JSPT screens cheaper 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 3,942 IDR 6,687 IDR 11,408 IDR 80
Residual Income 992.25 IDR 1,227 IDR 3,044 IDR 76
Rev-Margin DCF 1,839 IDR 2,629 IDR 3,608 IDR 74
All 26 models by family
DCF Models
FCF DCF 3,906 IDR 6,699 IDR 11,459 IDR 38
Owner Earnings 2,454 IDR 4,208 IDR 7,196 IDR 31
5Y Revenue Exit 1,839 IDR 2,587 IDR 3,501 IDR 39
5Y EBITDA Exit 3,237 IDR 5,329 IDR 7,835 IDR 41
5Y P/E Exit 2,565 IDR 4,011 IDR 5,566 IDR 38
10Y Revenue Exit 2,472 IDR 3,374 IDR 4,551 IDR 36
10Y EBITDA Exit 3,431 IDR 5,373 IDR 8,089 IDR 37
10Y P/E Exit 2,984 IDR 4,412 IDR 6,237 IDR 35
Earnings-Based
Graham-Dodd 874.36 IDR 3,357 IDR 4,549 IDR 54
Lynch FV 819.07 IDR 1,170 IDR 1,521 IDR 50
PEG = 1.0 819.07 IDR 1,170 IDR 1,521 IDR 46
EPV 2,164 IDR 2,545 IDR 2,884 IDR 59
Dividend Discount
Gordon GGM 192.38 IDR 420.00 IDR 706.67 IDR 70
DDM Multi-Stage 192.38 IDR 344.05 IDR 437.71 IDR 61
Multiples
P/E Multiple 2,122 IDR 2,829 IDR 3,536 IDR 63
P/S Multiple 942.60 IDR 1,257 IDR 1,571 IDR 58
P/B Multiple 1,639 IDR 2,186 IDR 2,732 IDR 55
EV/EBIT 3,460 IDR 4,612 IDR 5,763 IDR 53
EV/EBITDA 3,219 IDR 4,290 IDR 5,361 IDR 54
EV/Revenue 885.15 IDR 1,262 IDR 1,639 IDR 43
Asset-Based
NCAV (Graham) 524.28 IDR 702.53 IDR 1,049 IDR 50
Growth DCF
Growth DCF 3,942 IDR 6,687 IDR 11,408 IDR 80
Rev-Margin DCF 1,839 IDR 2,629 IDR 3,608 IDR 74
Economic Profit
Residual Income 992.25 IDR 1,227 IDR 3,044 IDR 76
ROIC Compounder 2,410 IDR 3,207 IDR 4,229 IDR 72
Growth Earnings
Growth-Adj P/E 1,526 IDR 2,180 IDR 2,834 IDR 68

Widest divergence: DCF Models (4,208 IDR) versus Dividend Discount (344.05 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.6T IDR
Revenue growth (YoY) +29.8%
Net margin 14.8%
Return on equity 14.6%
Free cash flow 710B IDR FY2025
P/E ratio 8.7
More key figures
Operating margin 37.1%
EPS (TTM) 164.01 IDR
EPS growth (YoY) +174%
Net debt 754B IDR FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 23

Profitability 40
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 82
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 Jakarta Setiabudi Internasional Tbk engages in the property and hospitality businesses in Indonesia. It operates through Hotel, Real Estate, Rental of Office Space, and Rental of Retail Center segments. The company offers hotel guestrooms and restaurant services.

Full company description

PT Jakarta Setiabudi Internasional Tbk engages in the property and hospitality businesses in Indonesia. It operates through Hotel, Real Estate, Rental of Office Space, and Rental of Retail Center segments. The company offers hotel guestrooms and restaurant services. It also engages in the investment and development of real estate properties; the sale of land, buildings, and apartment units; and the leasing of office and retail center spaces. The company was founded in 1975 and is headquartered in Jakarta, Indonesia. PT Jakarta Setiabudi Internasional Tbk operates as a subsidiary of PT Jan Darmadi Investindo.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Jakarta Setiabudi Internasional Tbk reported revenue of 2.4T IDR in FY2025 versus 553B IDR in FY2021, a compound +44.8%/yr. Reported net income was 298B IDR in FY2025.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.4T IDR
Latest YoY
+1.1%
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.
+20.8%
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.
+32.7%
Avg. growth/yr (25Y) 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.
+7.4%
Revenue +44.8%/yr
FY21 553B IDR
FY22 1.4T IDR
FY23 1.8T IDR
FY24 2.4T IDR
FY25 2.4T IDR
Net income
FY21 −210B IDR
FY22 −45.1B IDR
FY23 191B IDR
FY24 261B IDR
FY25 298B IDR
Character of growth · EPS growth decomposed (2014-2025) +3.4 % p.a.
Revenue per share +7.1 pp

of which total revenue +7.1 pp · buybacks/dilution +0.0 pp

EBIT margin −0.2 pp
Tax rate +1.6 pp
Residual (interest, one-offs) −5.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "PT Jakarta Setiabudi Internasional Tbk Fair Value". https://www.fairvalue-calculator.com/stock/JSPT

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 66 · Top 25%
Fair Value upside +105% · Top 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 15% · Above median
Operating margin (TTM) 37% · Above median
Revenue growth 30% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.71× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 8.7× · Cheaper than median
P/B 1.35× · Pricier than median
P/S (TTM) 1.28× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.5× · Cheaper than 75% of peers
PEG 0.65× · Cheaper than median

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 100 · sector 37
FUTURE 100 · sector 10
PAST 58 · sector 16
HEALTH 65 · sector 85
DIVIDEND 0 · sector 49

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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
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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%
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%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%

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Frequently asked questions

Is PT Jakarta Setiabudi Internasional Tbk (JSPT) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 2,829 IDR versus a price of 1,380 IDR, about +105% (undervalued).
What is the fair value of JSPT?
Our model-based fair value for PT Jakarta Setiabudi Internasional Tbk is 2,829 IDR (as of Jul 13, 2026), built from audited fundamentals. The current price is 1,380 IDR.
What is the quality score of JSPT?
PT Jakarta Setiabudi Internasional Tbk has a Quality Score of 66/100. 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 Jakarta Setiabudi Internasional Tbk (JSPT)?
PT Jakarta Setiabudi Internasional Tbk reported trailing-twelve-month revenue of about 2.6T IDR (latest available figure, as of Jul 13, 2026).
What is the net profit margin of JSPT?
The net profit margin of PT Jakarta Setiabudi Internasional Tbk is about 14.8%, meaning it keeps roughly 14.8% 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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