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M Cash Integrasi Tbk PT (MCAS) fair value: what the stock is really worth

As of Oct 28, 2026: fair value (intrinsic value) of M Cash Integrasi Tbk PT stock IDR 211, price IDR 189, upside +11.5%, quality 42 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Industrials ID · ISIN ID1000140908

MC M Cash Integrasi Tbk PT logo Thin data Oct 24, 2026

M Cash Integrasi Tbk PT

MCAS · JK
SpeculativeFair value less than 30% above the price, weak quality and a downtrend.Plus: Even on cautious assumptions the value is 6% above the price (200.32 IDR).

The stock costs 10% less than our calculation considers fair.

Fair value 210.68 IDR · Undervalued (10%)
Low debt
Quality 42/100
Weak Growth (revenue 5y −16.0 %/yr in IDR)
Loss-making · -1.2% net margin (TTM)
Negative free cash flow
Trails peers (3/11)
Narrow moat 14/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

14,500 IDR 148.00 IDR Fair Value 210.68 IDR May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 24, 2026.

How to read this chart

60‑month range 148.00 IDR – 14,500 IDR · fair‑value band 200.32 IDR – 223.16 IDR · the 189.00 IDR price screens below the 210.68 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 24, 2026.

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Company profile

PT M Cash Integrasi Tbk operates as a digital distribution company. The company provides digital products for mobile credit and data top up; PPOB; game voucher; tour and travel; music concert and attraction; lifestyle voucher; e-wallet and e-money top up; and branchless banking.

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It also offers electric vehicles; semolis, an electric motorbike rental; Super API, an end-to-end digital services with API connections; logistics; and cloud advertising platform, such as infrastructure-as-a-service, managed services, and exchange hub.

It also offers Pawoon POS, a cashier application, equipped with the cloud-based POS solutions; payment solutions; digital wholesale, an end to end distribution platform; content and entertainment products, including comics, games platform, games academy, bumilangits IP, podcast close the door, and digi rans; digital kiosk, an O2O platform which offers thousands SKU of digital product and distribute card based products; Smart EDC, an one-stop payment solution; E-Catalog; and MCAS Widget, an end-to-end digital solution in a small widget.

In addition, the company provides FAIS, a content created by artificial intelligence, such as text, images, videos, and music.

Further, it engages in the trading, construction, services, development, industry, printing, land transportation, mining, tourism, real estate, workshop, contracting, garment, electrical, mechanical, professional, scientific and technical, agriculture, equipment, telecommunication, e-commerce and other computer programming, telecommunication equipment and machinery trading, software publishing, information technology, computer consulting, and facility management activities; household electrothermal equipment industry; and retail trade through media for food, beverage, tobacco, chemical, pharmaceutical, and cosmetic and laboratory equipment.

PT M Cash Integrasi Tbk was founded in 2010 and is based in Jakarta, Indonesia.

Stock analysis

M Cash Integrasi Tbk PT (MCAS) currently trades at 189.00 IDR, while our model-based Fair Value estimate is 210.68 IDR, implying the stock looks roughly 10.3% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 1,191 IDR per share, and 3 of the 4 models we run sit above the 189.00 IDR price.

Bear case: the Asset-Based group reads lowest at 107.69 IDR, and 1 of the 4 models stay below the price. Data coverage for this calculation is low.

Scenario range: 200.32 IDR (bear) to 223.16 IDR (bull), the price of 189.00 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 42/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

M Cash Integrasi Tbk PT reported revenue of 4.7T IDR in FY2025 versus 12.7T IDR in FY2021, a compound −21.8%/yr. Reported net income was −38.4B IDR in FY2025.

Key figures

Market cap 164B IDR (≈ $9.0M) Micro · P/S ratio 0.05 · EPS (TTM) −52.90 IDR · Dividend yield 0.2% · Net margin −1.2% · Return on equity −7.9% · Return on assets (EBIT) 1.8% · Operating margin −2.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (low confidence).

What moves the price

The share trades about 77% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 8% fair-value upside, at 11%, MCAS screens cheaper than that median.

Fair Value models

Bear 200.32 IDR Fair Value 210.68 IDR Bull 223.16 IDR
Price 189.00 IDR · Upside +11.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
EPV 197.75 IDR 202.88 IDR 207.09 IDR 74
ROIC Compounder 200.32 IDR 210.68 IDR 223.16 IDR 72
EV/EBITDA 823.08 IDR 1,191 IDR 1,559 IDR 67
All 4 models by family
Earnings-Based
EPV 197.75 IDR 202.88 IDR 207.09 IDR 74
Multiples
EV/EBITDA 823.08 IDR 1,191 IDR 1,559 IDR 67
Asset-Based
NCAV (Graham) 80.37 IDR 107.69 IDR 160.74 IDR 54
Economic Profit
ROIC Compounder 200.32 IDR 210.68 IDR 223.16 IDR 72

Open the full fair value analysis →

Quality Score breakdown

Overall quality 42/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 27
How much profit the company makes from its sales and capital
Quality Growth 31
Are margins and returns getting better?
Cashflow 11
Do the profits arrive as real cash?
Financial strength 26
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Momentum 4
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−33.7%
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.
−27.3%
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.
−16.0%
Start year 2020 (pandemic). Over 10 years: +30.0% a year
Revenue growth 11 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.
+31.9%
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.
1.0% (2020) → 0.2% (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

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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.Business Equipment & Supplies · 78 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside +11.5% · Above median
Profitability
Return on assets −2.1% · Bottom 25%
Net margin (12 months) −1.2% · Below median
Operating margin (12 months) −2.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −40.8% · Bottom 25%
Dividend yield (12 months) 0.2% · Bottom 25%
Balance sheet
Debt / equity 0.17× · Above median

Valuation Multiplesvs Business Equipment & Supplies median · lower = cheaper

P/B 1.00× · Cheaper than median
P/S (12 months) 0.04× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)49 · sector 33
FUTURE (revenue growth)0 · sector 23
PAST (return on equity)0 · sector 26
HEALTH (low debt)91 · sector 98
DIVIDEND (yield)4 · sector 52

Context: sector, industry, market

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

Similar stocks

10 more Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Qingdao Hiron Commercial Cold Chain Co 603187 ¥9.98 ¥24.36 +144% vs MCAS
Shanghai M&G Stationery Inc 603899 ¥21.55 ¥37.37 +73% vs MCAS
XGD Inc 300130 ¥18.86 ¥22.49 +19% vs MCAS
GRG Banking Equipment Co 002152 ¥9.17 ¥10.09 +10% vs MCAS
F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A FILA €10.00 €10.83 +8% vs MCAS
Shenzhen Comix Group 002301 ¥6.95 ¥6.31 −9% vs MCAS
Crane NXT, Co CXT $56.94 $38.26 −33% vs MCAS
DOMS Industries Limited DOMS ₹1,864 ₹782.96 −58% vs MCAS
Shandong New Beiyang Information Technology Co 002376 ¥7.90 ¥2.10 −73% vs MCAS
Shaanxi Fenghuo Electronics Co 000561 ¥7.32 ¥1.75 −76% vs MCAS

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M Cash Integrasi Tbk PT · Fair Value
210.68 IDR +10%Fair Value
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Cite: Fair Value Calculator (2026). "M Cash Integrasi Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/MCAS

Frequently asked questions

Is M Cash Integrasi Tbk PT (MCAS) overvalued or undervalued?
As of Oct 24, 2026, our model estimates a fair value of 210.68 IDR versus a price of 189.00 IDR, about +11% upside (undervalued).
What is the fair value of MCAS?
Our model-based fair value for M Cash Integrasi Tbk PT is 210.68 IDR (as of Oct 24, 2026), built from audited fundamentals. The current price: 189.00 IDR.
What is the quality score of MCAS?
M Cash Integrasi Tbk PT has a Quality Score of 42/100. 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 M Cash Integrasi Tbk PT (MCAS)?
Our model-based price target is the fair value of 210.68 IDR (as of Oct 24, 2026) from 4 valuation models. Cautious scenario 200.32 IDR, optimistic scenario 223.16 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the M Cash Integrasi Tbk PT stock forecast for 2026?
Our models put fair value at 210.68 IDR, about +11% upside versus a price of 189.00 IDR (undervalued). Cautious scenario 200.32 IDR, optimistic scenario 223.16 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of M Cash Integrasi Tbk PT (MCAS)?
M Cash Integrasi Tbk PT reported trailing-twelve-month revenue of about 3.8T IDR (latest available figure, as of Oct 24, 2026).
Does M Cash Integrasi Tbk PT pay a dividend?
M Cash Integrasi Tbk PT currently shows a dividend yield of 0.19% relative to its recent price (as of Oct 24, 2026).
What is the intrinsic value of M Cash Integrasi Tbk PT (MCAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For M Cash Integrasi Tbk PT it is 210.68 IDR per share (as of Oct 24, 2026), against a price of 189.00 IDR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is M Cash Integrasi Tbk PT stock overvalued or undervalued in 2026?
As of Oct 24, 2026, MCAS trades below its calculated fair value: price 189.00 IDR, fair value 210.68 IDR, a gap of about +11% (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 MCAS?
No. The price is what the market pays today (189.00 IDR); the fair value is what the company's own numbers justify (210.68 IDR). For M Cash Integrasi Tbk PT the two are 21.68 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is M Cash Integrasi Tbk PT worth?
The market values M Cash Integrasi Tbk PT at about 164B IDR (market capitalisation, as of Oct 24, 2026). Per share that is 189.00 IDR; our models calculate a fair value of 210.68 IDR per share.
What do the bullish and bearish scenarios say about MCAS?
Our models span a range for M Cash Integrasi Tbk PT: cautious scenario 200.32 IDR, base 210.68 IDR, optimistic 223.16 IDR per share (as of Oct 24, 2026, price 189.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of M Cash Integrasi Tbk PT (MCAS)?
Balance-sheet figures for M Cash Integrasi Tbk PT (as of Oct 24, 2026): return on equity −7.9%, debt of 0.17 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is MCAS from its 52-week high?
M Cash Integrasi Tbk PT trades at 189.00 IDR, about 77% below its 52-week high of 825.00 IDR and 28% above the low of 148.00 IDR (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 210.68 IDR is for.
Which stocks are comparable to M Cash Integrasi Tbk PT?
From the same area (Industrials) we also value GRG Banking Equipment Co, Crane NXT, Co, Shanghai M&G Stationery Inc, XGD 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 M Cash Integrasi Tbk PT stock attractive at the current price?
The data as of Oct 24, 2026: price 189.00 IDR, calculated fair value 210.68 IDR (+11%), Quality Score 42/100, from 4 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 MCAS calculated?
We run M Cash Integrasi Tbk PT through 4 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 210.68 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 13.4 % above its aggregate fair value. M Cash Integrasi Tbk PT currently trades 10 % 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 M Cash Integrasi Tbk PT (MCAS)?
The closing price on Oct 28, 2026 was 189.00 IDR. Our model-based fair value is 210.68 IDR, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with M Cash Integrasi Tbk PT right now?
The price is below even our cautious bear case (200.32 IDR). The market is more pessimistic than our downside scenario. The models converge in a tight band (200.32 IDR to 223.16 IDR), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of M Cash Integrasi Tbk PT

How large is the market capitalisation of M Cash Integrasi Tbk PT (MCAS)?
The market capitalisation of M Cash Integrasi Tbk PT is 164B IDR (≈ $9.0M). 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 M Cash Integrasi Tbk PT (MCAS)?
The price-to-sales ratio of M Cash Integrasi Tbk PT is 0.05 (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 M Cash Integrasi Tbk PT (MCAS)?
Earnings per share at M Cash Integrasi Tbk PT are −52.90 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of M Cash Integrasi Tbk PT (MCAS)?
The dividend yield of M Cash Integrasi Tbk PT is 0.2%. 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 M Cash Integrasi Tbk PT (MCAS)?
The net margin of M Cash Integrasi Tbk PT is −1.2% (last twelve months). 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 M Cash Integrasi Tbk PT (MCAS)?
The return on equity (ROE) of M Cash Integrasi Tbk PT is −7.9% (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 M Cash Integrasi Tbk PT (MCAS)?
On an EBIT basis the return on assets of M Cash Integrasi Tbk PT is 1.8% (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 M Cash Integrasi Tbk PT (MCAS)?
The operating margin of M Cash Integrasi Tbk PT is −2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at M Cash Integrasi Tbk PT (MCAS)?
Revenue at M Cash Integrasi Tbk PT is growing −40.8% versus a year earlier (3y avg −27.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does M Cash Integrasi Tbk PT (MCAS) generate?
The free cash flow of M Cash Integrasi Tbk PT is −17.0B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does M Cash Integrasi Tbk PT (MCAS) carry?
The net debt of M Cash Integrasi Tbk PT is 243B IDR (fiscal year 2025). 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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