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PT Mitra Pedagang Indonesia Tb (MPIX) Fair Value & Analysis

Technology · ID · Market cap 148B IDR (≈ $14.8M)

PM PT Mitra Pedagang Indonesia Tb MPIX · JK
Price118.00 IDR
Fair Value111.53 IDR
Upside-5.5%
Quality46/100
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Strengths

Low debt · generates free cash flow
Ranks above peers (6/10)

Risks

!Expensive Growth (revenue 5y +102.5 %/yr)
!Thin margins · 0.4% net margin
!Narrow moat 30/100
!Evidence only low, so the estimate is less certain
Expensive Growth (revenue 5y +102.5 %/yr)
Thin margins · 0.4% net margin
Low debt · generates free cash flow
Ranks above peers (6/10)
Narrow moat 30/100
Evidence: Low Range 71.22 IDR – 139.42 IDR Share as image

Fair value as of: Aug 30, 2026

From 24 valuation models · updated yesterday

Share price +25.5% over the past month.

Below-average quality, currently priced close to our fair value.

What runs behind every stock

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

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (71.22 IDR to 139.42 IDR) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (3 years)

331.17 IDR 51.56 IDR Fair Value 111.53 IDR Feb 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

31‑month range 51.56 IDR – 331.17 IDR · fair‑value band 71.22 IDR – 139.42 IDR · the 118.00 IDR price screens above the 111.53 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

PT Mitra Pedagang Indonesia Tb (MPIX) currently trades at 118.00 IDR, while our model-based Fair Value estimate is 111.53 IDR, implying the stock looks roughly 5.5% fairly valued today. The Quality Score stands at 46/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, PT Mitra Pedagang Indonesia Tb generated revenue of 2.0T IDR at a net margin of 0.4%. Revenue grew 19.1% year over year. It earns a return on equity of 5.7%. The balance sheet holds a net cash position of 4.1B IDR. Fundamentals as of Aug 30, 2026

Our scenario range runs from 71.22 IDR (bear case) to 139.42 IDR (bull case); at 118.00 IDR, the current price sits within 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 9% below its 52-week high and 111% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -34% fair-value upside, at -5%, MPIX 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
FCF DCF 24.01 IDR 35.75 IDR 73.14 IDR 74
EPV 54.83 IDR 63.37 IDR 70.85 IDR 74
Residual Income 74.36 IDR 75.10 IDR 72.46 IDR 74
All 24 models by family
DCF Models
FCF DCF 24.01 IDR 35.75 IDR 73.14 IDR 74
5Y Revenue Exit 60.04 IDR 113.07 IDR 225.02 IDR 66
5Y EBITDA Exit 73.90 IDR 141.10 IDR 273.36 IDR 69
5Y P/E Exit 72.32 IDR 173.56 IDR 314.32 IDR 65
10Y Revenue Exit 47.83 IDR 127.94 IDR 187.38 IDR 63
10Y EBITDA Exit 60.80 IDR 157.78 IDR 335.45 IDR 60
10Y P/E Exit 59.65 IDR 154.37 IDR 316.60 IDR 57
Earnings-Based
Graham-Dodd 34.47 IDR 240.42 IDR 337.39 IDR 61
Lynch FV 124.21 IDR 177.44 IDR 230.67 IDR 59
PEG = 1.0 124.21 IDR 177.44 IDR 230.67 IDR 55
EPV 54.83 IDR 63.37 IDR 70.85 IDR 74
Dividend Discount
Gordon GGM 4.59 IDR 9.55 IDR 15.14 IDR 64
DDM Multi-Stage 4.59 IDR 8.05 IDR 10.02 IDR 64
Multiples
P/E Multiple 83.65 IDR 111.53 IDR 139.42 IDR 63
P/S Multiple 64.64 IDR 86.19 IDR 107.73 IDR 58
P/B Multiple 64.64 IDR 86.19 IDR 107.73 IDR 55
EV/EBIT 96.85 IDR 127.96 IDR 159.06 IDR 66
EV/EBITDA 89.29 IDR 117.87 IDR 146.45 IDR 67
EV/Revenue 66.44 IDR 93.40 IDR 120.36 IDR 54
Asset-Based
NCAV (Graham) 48.39 IDR 64.84 IDR 96.78 IDR 54
Growth DCF
Growth DCF 22.80 IDR 41.76 IDR 72.84 IDR 73
Economic Profit
Residual Income 74.36 IDR 75.10 IDR 72.46 IDR 74
ROIC Compounder 54.83 IDR 63.37 IDR 70.85 IDR 70
Growth Earnings
Growth-Adj P/E 164.88 IDR 235.54 IDR 306.20 IDR 65

Widest divergence: Growth Earnings (235.54 IDR) versus Dividend Discount (8.05 IDR). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/S ratio 0.07 TTM
Dividend yield 0.6%
Net margin 0.4% FY2025
Return on equity 5.7% TTM
Return on assets (EBIT) 34.5% avg 5y
Operating margin 1.3% TTM
More key figures
Growth
Revenue (TTM) 2.0T IDR TTM
Revenue growth (YoY) +19.1% 3y avg +47.7%
EPS growth (YoY) +16.4%
Balance sheet & cash flow
Free cash flow 1.9B IDR FY2025
Net cash 4.1B IDR FY2025

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 50 · Market factors (momentum, volatility) 71

Profitability 45
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 76
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 40
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT Mitra Pedagang Indonesia Tbk, a technology company, operates a digital platform that facilitates transactions for micro, small, and medium enterprises (MSMEs) under the MPStore brand in Indonesia. The company operates through Digital Product, FMCG, and Digital Financial Services segments.

Full company description

PT Mitra Pedagang Indonesia Tbk, a technology company, operates a digital platform that facilitates transactions for micro, small, and medium enterprises (MSMEs) under the MPStore brand in Indonesia. The company operates through Digital Product, FMCG, and Digital Financial Services segments. It offers digital product aggregator and payment channel services, quick response code Indonesian standard (QRIS) services, online cashier services, street banking/mini automatic teller machine services, e-commerce and e-grocery (wholesale) services, logistics agent services, capital access/micro-business credit services, AI and quick commerce services, and PPOB sales services. The company was formerly known as PT Modern Pulsa Investama. The company was founded in 2018 and is headquartered in Bangkalan, Indonesia. PT Mitra Pedagang Indonesia Tbk operates as a subsidiary of PT Madura Prima Investama.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Mitra Pedagang Indonesia Tb reported revenue of 1.9T IDR in FY2025 versus 169B IDR in FY2021, a compound +84.2%/yr. Reported net income was 7.9B IDR in FY2025, compounding +22.4%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.9T IDR
Latest YoY
+30.2%
Avg. revenue 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.
+47.7%
Avg. revenue 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.
+102.5%
Value creation/yr (5Y, in IDR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+14.3% (13.7 + 0.6)
Revenue +84.2%/yr
FY21 169B IDR
FY22 604B IDR
FY23 820B IDR
FY24 1.5T IDR
FY25 1.9T IDR
Net income +22.4%/yr
FY21 3.5B IDR
FY22 14.3B IDR
FY23 18.6B IDR
FY24 20.1B IDR
FY25 7.9B IDR

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Cite: Fair Value Calculator (2026). "PT Mitra Pedagang Indonesia Tb Fair Value". https://www.fairvalue-calculator.com/stock/MPIX

Peer Group

Software - Infrastructure · 378 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 46 · Below median
Fair Value upside −6% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 4% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 19% · Above median
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Software - Infrastructure median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE26 · sector 0
FUTURE96 · sector 49
PAST23 · sector 14
HEALTH100 · sector 98
DIVIDEND13 · sector 26

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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $480.35 $365.74 -24%
Oracle Corporation ORCL $151.94 $117.84 -22%
Fortinet, Inc FTNT $166.00 $61.46 -63%
Synopsys, Inc SNPS $410.00 $101.19 -75%
Block, Inc XYZ A$111.01 A$70.69 -36%
CoreWeave, Inc CRWV $105.26 $71.79 -32%
NetApp, Inc NTAP $190.64 $154.83 -19%
Adyen N.V ADYEN €1,080 €707.53 -34%
MongoDB, Inc MDB $440.58 $93.91 -79%
Okta, Inc OKTA $134.42 $30.50 -77%

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Frequently asked questions

Is PT Mitra Pedagang Indonesia Tb (MPIX) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of 111.53 IDR versus a price of 118.00 IDR, about −5% (fairly valued).
What is the fair value of MPIX?
Our model-based fair value for PT Mitra Pedagang Indonesia Tb is 111.53 IDR (as of Aug 30, 2026), built from audited fundamentals. The current price: 118.00 IDR.
What is the quality score of MPIX?
PT Mitra Pedagang Indonesia Tb has a Quality Score of 46/100. 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 Mitra Pedagang Indonesia Tb (MPIX)?
PT Mitra Pedagang Indonesia Tb reported trailing-twelve-month revenue of about 2.0T IDR (latest available figure, as of Aug 30, 2026).
What is the net profit margin of MPIX?
The net profit margin of PT Mitra Pedagang Indonesia Tb is about 0.4%, meaning it keeps roughly 0.4% of revenue as net income. Based on the latest reported figures.
Does PT Mitra Pedagang Indonesia Tb pay a dividend?
PT Mitra Pedagang Indonesia Tb currently shows a dividend yield of about 0.64% relative to its recent price (as of Aug 30, 2026).

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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