Metropolitan Kentjana Tbk (MKPI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Metropolitan Kentjana Tbk IDR 19,160, price IDR 21,475, upside -10.8%, quality 78 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 16,274 IDR – 35,499 IDR · fair‑value band 14,370 IDR – 23,950 IDR · the 21,475 IDR price screens above the 19,160 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 Metropolitan Kentjana Tbk develops and manages land and buildings in Indonesia. The company operates through Shopping center, Office, Apartment, Real Estate, Water park, and Hotel segments. It also engages in the rental of space in shopping centers, office buildings, and apartments, as well as sells land and buildings.
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PT Metropolitan Kentjana Tbk develops and manages land and buildings in Indonesia. The company operates through Shopping center, Office, Apartment, Real Estate, Water park, and Hotel segments. It also engages in the rental of space in shopping centers, office buildings, and apartments, as well as sells land and buildings. The company was founded in 1972 and is headquartered in Jakarta Selatan, Indonesia.
Stock analysis
Metropolitan Kentjana Tbk (MKPI) currently trades at 21,475 IDR, while our model-based Fair Value estimate is 19,160 IDR, implying the stock looks roughly 12.1% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 31,444 IDR per share, and 9 of the 16 models we run sit above the 21,475 IDR price.
Bear case: the Asset-Based group reads lowest at 5,485 IDR, and 7 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: 14,370 IDR (bear) to 23,950 IDR (bull), the price of 21,475 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 78/100 (high quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Metropolitan Kentjana Tbk reported revenue of 2.8T IDR in FY2025 versus 1.3T IDR in FY2021, a compound +20.7%/yr. Reported net income was 1.1T IDR in FY2025, compounding +36.3%/yr from FY2021.
Key figures
Market cap 20.4T IDR (≈ $2.0B) · P/E ratio 17.5 · P/S ratio 7.01 · EPS (TTM) 1,228 IDR · Dividend yield 3.5% · Net margin 40.1% · Return on equity 42.7% · Return on assets (EBIT) 9.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 5% above 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 −11%, MKPI screens cheaper than that median.
Fair Value models
Bear 14,370 IDRFair Value 19,160 IDRBull 23,950 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 (898.37 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+12.6%
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.
+12.7%
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.
+16.3%
Start year 2020 (pandemic). Over 10 years: +2.9% a year
Revenue growth 17 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.
+9.4%
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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.
+31.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+28.1%
Dividend (yield on the price)3.5%
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.28% vs 2%, 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.19% → 42%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
+5.2%
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 +2.5% a year for the price.
Compare Metropolitan Kentjana Tbk with another stock
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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 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score78 · Top 25%
Fair Value upside−11% · Below median
Profitability
Return on equity (TTM)43% · Top 25%
Return on assets20% · Top 25%
Net margin (TTM)47% · Top 25%
Operating margin (TTM)50% · Above median
Growth and dividend
Revenue growth6% · Above median
Dividend yield (TTM)3.5% · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Is Metropolitan Kentjana Tbk (MKPI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 19,160 IDR versus a price of 21,475 IDR, about −11% upside (overvalued).
What is the fair value of MKPI?
Our model-based fair value for Metropolitan Kentjana Tbk is 19,160 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 21,475 IDR.
What is the quality score of MKPI?
Metropolitan Kentjana Tbk has a Quality Score of 78/100. 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 Metropolitan Kentjana Tbk (MKPI)?
Our model-based price target is the fair value of 19,160 IDR (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 14,370 IDR, optimistic scenario 23,950 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Metropolitan Kentjana Tbk stock forecast for 2026?
Our models put fair value at 19,160 IDR, about −11% upside versus a price of 21,475 IDR (overvalued). Cautious scenario 14,370 IDR, optimistic scenario 23,950 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Metropolitan Kentjana Tbk (MKPI)?
Metropolitan Kentjana Tbk reported trailing-twelve-month revenue of about 4.2T IDR (latest available figure, as of Sep 24, 2026).
Does Metropolitan Kentjana Tbk pay a dividend?
Metropolitan Kentjana Tbk currently shows a dividend yield of about 3.47% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Metropolitan Kentjana Tbk (MKPI)?
For today's price to be fair in a discounted-cash-flow model, Metropolitan Kentjana Tbk would have to grow free cash flow by +5.2 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MKPI use?
Our models discount Metropolitan Kentjana Tbk at 11.0 %: a base by market capitalisation (mega), 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 Metropolitan Kentjana Tbk that is +5.2 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Metropolitan Kentjana Tbk (MKPI) delivered so far?
Over the past 5 years revenue at Metropolitan Kentjana Tbk grew +16.4 % a year. The price currently implies +5.2 % 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 Metropolitan Kentjana Tbk (MKPI) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Metropolitan Kentjana Tbk (+5.2 % 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 Metropolitan Kentjana Tbk (MKPI)?
The free-cash-flow yield on the price is 6.40 %: that much free cash flow Metropolitan Kentjana Tbk produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Metropolitan Kentjana Tbk (MKPI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Metropolitan Kentjana Tbk it is 19,160 IDR per share (as of Sep 24, 2026), against a price of 21,475 IDR. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Metropolitan Kentjana Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MKPI trades above its calculated fair value: price 21,475 IDR, fair value 19,160 IDR, a gap of about −11% (overvalued). 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 MKPI?
No. The price is what the market pays today (21,475 IDR); the fair value is what the company's own numbers justify (19,160 IDR). For Metropolitan Kentjana Tbk the two are 2,315 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Metropolitan Kentjana Tbk worth?
The market values Metropolitan Kentjana Tbk at about 20.4T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 21,475 IDR; our models calculate a fair value of 19,160 IDR per share.
What do the bullish and bearish scenarios say about MKPI?
Our models span a range for Metropolitan Kentjana Tbk: cautious scenario 14,370 IDR, base 19,160 IDR, optimistic 23,950 IDR per share (as of Sep 24, 2026, price 21,475 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MKPI?
Metropolitan Kentjana Tbk trades at a price-to-earnings ratio of 17.5 (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 19,160 IDR is built from several models across several years. Other multiples: PEG 0.3, P/B 2.6, P/S 4.9, EV/EBITDA 7.9.
What is the PEG ratio of MKPI?
The PEG ratio of Metropolitan Kentjana Tbk is 0.34 (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 Metropolitan Kentjana Tbk (MKPI)?
Balance-sheet figures for Metropolitan Kentjana Tbk (as of Sep 24, 2026): return on equity 42.7%. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is MKPI from its 52-week high?
Metropolitan Kentjana Tbk trades at 21,475 IDR, about 12% below its 52-week high of 24,536 IDR and 5% above the low of 20,450 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 19,160 IDR is for.
Which stocks are comparable to Metropolitan Kentjana 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 Metropolitan Kentjana Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 21,475 IDR, calculated fair value 19,160 IDR (−11%), Quality Score 78/100, from 16 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 MKPI calculated?
We run Metropolitan Kentjana Tbk through 16 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 19,160 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. Metropolitan Kentjana Tbk itself currently trades above fair value. 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 Metropolitan Kentjana Tbk (MKPI)?
The closing price on Sep 23, 2026 was 21,475 IDR. Our model-based fair value is 19,160 IDR, about −11% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Metropolitan Kentjana Tbk right now?
As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Metropolitan Kentjana Tbk (MKPI) come from?
Earnings per share at Metropolitan Kentjana Tbk grew +1.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.0 %, EBIT margin −1.5 %, tax rate +0.0 %, residual (interest, one-offs) +0.2 %. 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 Metropolitan Kentjana Tbk
How large is the market capitalisation of Metropolitan Kentjana Tbk (MKPI)?
The market capitalisation of Metropolitan Kentjana Tbk is 20.4T IDR (≈ $2.0B). 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 Metropolitan Kentjana Tbk (MKPI)?
The price-to-sales ratio of Metropolitan Kentjana Tbk is 7.01 (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 Metropolitan Kentjana Tbk (MKPI)?
Earnings per share at Metropolitan Kentjana Tbk are 1,228 IDR (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Metropolitan Kentjana Tbk (MKPI)?
The dividend yield of Metropolitan Kentjana Tbk is 3.5% (payout 60.7%). 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 Metropolitan Kentjana Tbk (MKPI)?
The net margin of Metropolitan Kentjana Tbk is 40.1% (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 Metropolitan Kentjana Tbk (MKPI)?
The return on equity (ROE) of Metropolitan Kentjana Tbk is 42.7% (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 Metropolitan Kentjana Tbk (MKPI)?
On an EBIT basis the return on assets of Metropolitan Kentjana Tbk is 9.5% (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 Metropolitan Kentjana Tbk (MKPI)?
The operating margin of Metropolitan Kentjana Tbk is 48.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Metropolitan Kentjana Tbk (MKPI)?
Revenue at Metropolitan Kentjana Tbk is growing +11.5% versus a year earlier (3y avg +12.7%). 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 Metropolitan Kentjana Tbk (MKPI)?
Earnings per share at Metropolitan Kentjana Tbk are growing +16.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Metropolitan Kentjana Tbk (MKPI) hold?
Metropolitan Kentjana Tbk holds more cash than debt, 2.8T IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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