Mitra Adiperkasa Tbk (MAPI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Mitra Adiperkasa Tbk IDR 3,216, price IDR 1,510, upside +113.0%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 604.52 IDR – 1,989 IDR · fair‑value band 2,251 IDR – 4,180 IDR · the 1,510 IDR price screens below the 3,216 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT. Mitra Adiperkasa Tbk engages in the retail trade of clothing, accessories, bags, and sports equipment in Indonesia, Vietnam, the Philippines, Thailand, and internationally. The company operates through Retail Sales, Department Stores, Café and Restaurant, and Others segments.
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PT. Mitra Adiperkasa Tbk engages in the retail trade of clothing, accessories, bags, and sports equipment in Indonesia, Vietnam, the Philippines, Thailand, and internationally. The company operates through Retail Sales, Department Stores, Café and Restaurant, and Others segments. It operates retail stores, which offers clothes and accessories, sports equipment and accessories, toys and accessories, cellular phones, tablets, computers, and accessories. The company engages in the operation of department stores; café and restaurant business; garment manufacture business; and property, investment, bookstore, and handicraft trading businesses. PT. Mitra Adiperkasa Tbk was incorporated in 1995 and is headquartered in Jakarta Pusat, Indonesia. PT. Mitra Adiperkasa Tbk is a subsidiary of PT Satya Mulia Gema Gemilang. As of May 8, 2026, PT. Mitra Adiperkasa Tbk operates as a subsidiary of Pacific Universal Investments Pte. Ltd.
Stock analysis
Mitra Adiperkasa Tbk (MAPI) currently trades at 1,510 IDR, while our model-based Fair Value estimate is 3,216 IDR, implying the stock looks roughly 53.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5,311 IDR per share, and 22 of the 26 models we run sit above the 1,510 IDR price.
Bear case: the Asset-Based group reads lowest at 564.23 IDR, and 4 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 2,251 IDR (bear) to 4,180 IDR (bull), the price of 1,510 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 60/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Mitra Adiperkasa Tbk reported revenue of 43.1T IDR in FY2025 versus 18.4T IDR in FY2021, a compound +23.7%/yr. Reported net income was 2.2T IDR in FY2025, compounding +51.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 25.1T IDR (≈ $2.5B) · P/E ratio 10.6 · P/S ratio 0.55 · EPS (TTM) 143.06 IDR · Dividend yield 0.8% · Net margin 5.2% · Return on equity 17.6% · Return on assets (EBIT) 12.0%.
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 20% below its 52-week high and 41% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 113%, MAPI screens cheaper than that median.
Fair Value models
Bear 2,251 IDRFair Value 3,216 IDRBull 4,180 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 (104.65 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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.5%
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.
+16.9%
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.
+23.7%
Start year 2020 (pandemic). Over 10 years: +12.9% a year
Revenue growth 22 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.
+14.9%
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What shareholders gained per year (last 5 years), in IDR ⓘ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. 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.
+27.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.9%
Dividend (yield on the price)0.8%
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.27% vs 41%, slowing
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.−1% → 10%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−12.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −14.8% a year for the price and +6.0% for the forecasts.
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.Department Stores · 120 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+113% · Top 25%
Profitability
Return on equity (TTM)18% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)5% · Above median
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth32% · Top 25%
Dividend yield (TTM)0.8% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Department Stores median · lower = cheaper
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Is Mitra Adiperkasa Tbk (MAPI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3,216 IDR versus a price of 1,510 IDR, about +113% upside (undervalued).
What is the fair value of MAPI?
Our model-based fair value for Mitra Adiperkasa Tbk is 3,216 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,510 IDR.
What is the quality score of MAPI?
Mitra Adiperkasa Tbk has a Quality Score of 60/100. 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 Mitra Adiperkasa Tbk (MAPI)?
Our model-based price target is the fair value of 3,216 IDR (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 2,251 IDR, optimistic scenario 4,180 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Mitra Adiperkasa Tbk stock forecast for 2026?
Our models put fair value at 3,216 IDR, about +113% upside versus a price of 1,510 IDR (undervalued). Cautious scenario 2,251 IDR, optimistic scenario 4,180 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Mitra Adiperkasa Tbk (MAPI)?
Mitra Adiperkasa Tbk reported trailing-twelve-month revenue of about 46.1T IDR (latest available figure, as of Sep 24, 2026).
Does Mitra Adiperkasa Tbk pay a dividend?
Mitra Adiperkasa Tbk currently shows a dividend yield of about 0.80% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Mitra Adiperkasa Tbk (MAPI)?
For today's price to be fair in a discounted-cash-flow model, Mitra Adiperkasa Tbk would have to grow free cash flow by -12.6 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MAPI use?
Our models discount Mitra Adiperkasa Tbk at 10.5 %: a base by market capitalisation (mid), damped by beta 0.33, 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 Mitra Adiperkasa Tbk that is -12.6 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Mitra Adiperkasa Tbk (MAPI) delivered so far?
Over the past 5 years revenue at Mitra Adiperkasa Tbk grew +23.8 % a year. The price currently implies -12.6 % 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 Mitra Adiperkasa Tbk (MAPI) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Mitra Adiperkasa Tbk (-12.6 % 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 Mitra Adiperkasa Tbk (MAPI)?
The free-cash-flow yield on the price is 16.02 %: that much free cash flow Mitra Adiperkasa Tbk produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mitra Adiperkasa Tbk (MAPI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mitra Adiperkasa Tbk it is 3,216 IDR per share (as of Sep 24, 2026), against a price of 1,510 IDR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Mitra Adiperkasa Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MAPI trades below its calculated fair value: price 1,510 IDR, fair value 3,216 IDR, a gap of about +113% (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 MAPI?
No. The price is what the market pays today (1,510 IDR); the fair value is what the company's own numbers justify (3,216 IDR). For Mitra Adiperkasa Tbk the two are 1,706 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Mitra Adiperkasa Tbk worth?
The market values Mitra Adiperkasa Tbk at about 25.1T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 1,510 IDR; our models calculate a fair value of 3,216 IDR per share.
What do the bullish and bearish scenarios say about MAPI?
Our models span a range for Mitra Adiperkasa Tbk: cautious scenario 2,251 IDR, base 3,216 IDR, optimistic 4,180 IDR per share (as of Sep 24, 2026, price 1,510 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MAPI?
Mitra Adiperkasa Tbk trades at a price-to-earnings ratio of 10.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3,216 IDR is built from several models across several years. Other multiples: PEG 0.7, P/B 1.8, P/S 0.5, EV/EBITDA 3.7.
What is the PEG ratio of MAPI?
The PEG ratio of Mitra Adiperkasa Tbk is 0.69 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Mitra Adiperkasa Tbk (MAPI)?
Balance-sheet figures for Mitra Adiperkasa Tbk (as of Sep 24, 2026): return on equity 17.6%, debt of 0.00 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is MAPI from its 52-week high?
Mitra Adiperkasa Tbk trades at 1,510 IDR, about 20% below its 52-week high of 1,895 IDR and 41% above the low of 1,073 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3,216 IDR is for.
Which stocks are comparable to Mitra Adiperkasa Tbk?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Cencosud S.A, 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 Mitra Adiperkasa Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 1,510 IDR, calculated fair value 3,216 IDR (+113%), Quality Score 60/100, from 26 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 MAPI calculated?
We run Mitra Adiperkasa Tbk through 26 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 3,216 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. Mitra Adiperkasa Tbk currently trades 113 % 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 Mitra Adiperkasa Tbk (MAPI)?
The closing price on Sep 23, 2026 was 1,510 IDR. Our model-based fair value is 3,216 IDR, about +113% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mitra Adiperkasa Tbk right now?
The price is below even our cautious bear case (2,251 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 (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (2,251 IDR to 4,180 IDR) leaves room in how you read the outcome.
Where does the earnings growth of Mitra Adiperkasa Tbk (MAPI) come from?
Earnings per share at Mitra Adiperkasa Tbk grew +38.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.1 %, EBIT margin +7.7 %, tax rate +5.9 %, residual (interest, one-offs) +7.2 %. 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 Mitra Adiperkasa Tbk
How large is the market capitalisation of Mitra Adiperkasa Tbk (MAPI)?
The market capitalisation of Mitra Adiperkasa Tbk is 25.1T IDR (≈ $2.5B). 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 Mitra Adiperkasa Tbk (MAPI)?
The price-to-sales ratio of Mitra Adiperkasa Tbk is 0.55 (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 Mitra Adiperkasa Tbk (MAPI)?
Earnings per share at Mitra Adiperkasa Tbk are 143.06 IDR (price ÷ EPS = P/E 10.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mitra Adiperkasa Tbk (MAPI)?
The dividend yield of Mitra Adiperkasa Tbk is 0.8% (payout 8.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Mitra Adiperkasa Tbk (MAPI)?
The net margin of Mitra Adiperkasa Tbk is 5.2% (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 Mitra Adiperkasa Tbk (MAPI)?
The return on equity (ROE) of Mitra Adiperkasa Tbk is 17.6% (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 Mitra Adiperkasa Tbk (MAPI)?
On an EBIT basis the return on assets of Mitra Adiperkasa Tbk is 12.0% (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 Mitra Adiperkasa Tbk (MAPI)?
The operating margin of Mitra Adiperkasa Tbk is 8.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mitra Adiperkasa Tbk (MAPI)?
Revenue at Mitra Adiperkasa Tbk is growing +32.0% versus a year earlier (3y avg +16.9%). 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 Mitra Adiperkasa Tbk (MAPI)?
Earnings per share at Mitra Adiperkasa Tbk are growing +33.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mitra Adiperkasa Tbk (MAPI) carry?
The net debt of Mitra Adiperkasa Tbk is 2.7T IDR (fiscal year 2025, ≈ 0.7 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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