Mnc Land Tbk (KPIG) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Mnc Land Tbk IDR 85, price IDR 55, upside +53.9%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT MNC Tourism Indonesia Tbk, together with its subsidiaries, engages in hospitality, amusement, and property management activities in Indonesia. It operates through the Hotel, Resort and Gold; Property Management and Other Services; Office Space Rental; and Apartment and Other Properties segments.
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PT MNC Tourism Indonesia Tbk, together with its subsidiaries, engages in hospitality, amusement, and property management activities in Indonesia. It operates through the Hotel, Resort and Gold; Property Management and Other Services; Office Space Rental; and Apartment and Other Properties segments. The company is involved in property management and development, golf course, natural conservation park, theme park, food and beverage, convention, and investing businesses; and edutainment garden activities. It also provides manpower supply, security, and housekeeping services. The company was formerly known as PT MNC Land Tbk and changed its name to PT MNC Tourism Indonesia Tbk in July 2025. PT MNC Tourism Indonesia Tbk was founded in 1990 and is based in Jakarta, Indonesia.
Stock analysis
Mnc Land Tbk (KPIG) currently trades at 55.00 IDR, while our model-based Fair Value estimate is 84.65 IDR, implying the stock looks roughly 35.0% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 184.71 IDR per share, and 11 of the 14 models we run sit above the 55.00 IDR price.
Bear case: the Growth DCF group reads lowest at 45.12 IDR, and 3 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 27.01 IDR (bear) to 119.42 IDR (bull), the price of 55.00 IDR sits inside 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 45/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Mnc Land Tbk reported revenue of 2.6T IDR in FY2025 versus 700B IDR in FY2021, a compound +39.0%/yr. Reported net income was 717B IDR in FY2025, compounding +38.3%/yr from FY2021.
Key figures
Market cap 8.5T IDR (≈ $848M) · P/E ratio 7.2 · P/S ratio 1.98 · EPS (TTM) 7.62 IDR · Net margin 27.4% · Return on equity 2.6% · Return on assets (EBIT) 0.6% · Operating margin 12.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 81% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 54%, KPIG screens cheaper than that median.
Fair Value models
Bear 27.01 IDRFair Value 84.65 IDRBull 119.42 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (5.57 IDR per share) are deliberately not added.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.61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+47.7%
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.
+32.6%
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.
+31.0%
Start year 2020 (pandemic). Over 10 years: +8.7% a year
Revenue growth 25 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.
+23.8%
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What shareholders gained per year (last 5 years), in IDR (mathematically smoothed) ⓘ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 5 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+23.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.2%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16% vs 1%, picking up
Profit margin 2020 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.−5% → 26%
2025 sits 96% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+42.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about +39.1% a year for the 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.Real Estate Services · 547 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside+32% · Above median
Profitability
Return on equity (TTM)3% · Below median
Return on assets1% · Below median
Net margin (TTM)28% · Above median
Operating margin (TTM)12% · Below median
Growth and dividend
Revenue growth27% · Top 25%
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Mnc Land Tbk Fair Value". https://www.fairvalue-calculator.com/stock/KPIG
Frequently asked questions
Is Mnc Land Tbk (KPIG) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 84.65 IDR versus a price of 55.00 IDR, about +54% upside (undervalued).
What is the fair value of KPIG?
Our model-based fair value for Mnc Land Tbk is 84.65 IDR (as of Sep 23, 2026), built from audited fundamentals. The current price: 55.00 IDR.
What is the quality score of KPIG?
Mnc Land Tbk has a Quality Score of 45/100. 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 Land Tbk (KPIG)?
Our model-based price target is the fair value of 84.65 IDR (as of Sep 23, 2026) from 14 valuation models. Cautious scenario 27.01 IDR, optimistic scenario 119.42 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Mnc Land Tbk stock forecast for 2026?
Our models put fair value at 84.65 IDR, about +54% upside versus a price of 55.00 IDR (undervalued). Cautious scenario 27.01 IDR, optimistic scenario 119.42 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Mnc Land Tbk (KPIG)?
Mnc Land Tbk reported trailing-twelve-month revenue of about 2.7T IDR (latest available figure, as of Sep 23, 2026).
What growth is priced into Mnc Land Tbk (KPIG)?
For today's price to be fair in a discounted-cash-flow model, Mnc Land Tbk would have to grow free cash flow by +42.7 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +31.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of KPIG use?
Our models discount Mnc Land Tbk at 9.6 %: a base by market capitalisation (mega), damped by beta 0.39, 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 Land Tbk that is +42.7 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Mnc Land Tbk (KPIG) delivered so far?
Over the past 5 years revenue at Mnc Land Tbk grew +31.0 % a year. The price currently implies +42.7 % 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 Land Tbk (KPIG) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Mnc Land Tbk (+42.7 % 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 Land Tbk (KPIG)?
The free-cash-flow yield on the price is 1.68 %: that much free cash flow Mnc Land Tbk produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), 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 Land Tbk (KPIG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mnc Land Tbk it is 84.65 IDR per share (as of Sep 23, 2026), against a price of 55.00 IDR. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Mnc Land Tbk stock overvalued or undervalued in 2026?
As of Sep 23, 2026, KPIG trades below its calculated fair value: price 55.00 IDR, fair value 84.65 IDR, a gap of about +54% (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 KPIG?
No. The price is what the market pays today (55.00 IDR); the fair value is what the company's own numbers justify (84.65 IDR). For Mnc Land Tbk the two are 29.65 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Mnc Land Tbk worth?
The market values Mnc Land Tbk at about 8.5T IDR (market capitalisation, as of Sep 23, 2026). Per share that is 55.00 IDR; our models calculate a fair value of 84.65 IDR per share.
What do the bullish and bearish scenarios say about KPIG?
Our models span a range for Mnc Land Tbk: cautious scenario 27.01 IDR, base 84.65 IDR, optimistic 119.42 IDR per share (as of Sep 23, 2026, price 55.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KPIG?
Mnc Land Tbk trades at a price-to-earnings ratio of 7.2 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 84.65 IDR is built from several models across several years. Other multiples: P/B 0.3, P/S 3.1, EV/EBITDA 13.4.
How solid is the balance sheet of Mnc Land Tbk (KPIG)?
Balance-sheet figures for Mnc Land Tbk (as of Sep 23, 2026): return on equity 2.6%, debt of 0.11 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is KPIG from its 52-week high?
Mnc Land Tbk trades at 55.00 IDR, about 81% below its 52-week high of 286.00 IDR and at the low of 55.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 84.65 IDR is for.
Which stocks are comparable to Mnc Land Tbk?
From the same area (Real Estate) we also value CBRE Group, Vonovia SE, Cellnex Telecom, S.A, KE 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 Mnc Land Tbk stock attractive at the current price?
The data as of Sep 23, 2026: price 55.00 IDR, calculated fair value 84.65 IDR (+54%), Quality Score 45/100, from 14 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 KPIG calculated?
We run Mnc Land Tbk through 14 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 84.65 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. Mnc Land Tbk currently trades 54 % 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 Land Tbk (KPIG)?
The closing price on Sep 23, 2026 was 55.00 IDR. Our model-based fair value is 84.65 IDR, about +54% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mnc Land Tbk right now?
The model range is unusually wide (27.01 IDR to 119.42 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (45/100) 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.
Where does the earnings growth of Mnc Land Tbk (KPIG) come from?
Earnings per share at Mnc Land Tbk grew −7.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.9 %, EBIT margin +0.4 %, tax rate −0.2 %, residual (interest, one-offs) −10.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Mnc Land Tbk
How large is the market capitalisation of Mnc Land Tbk (KPIG)?
The market capitalisation of Mnc Land Tbk is 8.5T IDR (≈ $848M). 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 Land Tbk (KPIG)?
The price-to-sales ratio of Mnc Land Tbk is 1.98 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mnc Land Tbk (KPIG)?
Earnings per share at Mnc Land Tbk are 7.62 IDR (price ÷ EPS = P/E 7.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Mnc Land Tbk (KPIG)?
The net margin of Mnc Land Tbk is 27.4% (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 Land Tbk (KPIG)?
The return on equity (ROE) of Mnc Land Tbk 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 Land Tbk (KPIG)?
On an EBIT basis the return on assets of Mnc Land Tbk is 0.6% (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 Land Tbk (KPIG)?
The operating margin of Mnc Land Tbk is 12.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mnc Land Tbk (KPIG)?
Revenue at Mnc Land Tbk is growing +26.8% versus a year earlier (3y avg +32.6%). 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 Land Tbk (KPIG)?
Earnings per share at Mnc Land Tbk are growing +74.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mnc Land Tbk (KPIG) carry?
The net debt of Mnc Land Tbk is 5.8T IDR (fiscal year 2025, ≈ 63.7 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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