Megapower Makmur TBK PT (MPOW) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Megapower Makmur TBK PT IDR 128, price IDR 110, upside +16.1%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Megapower Makmur Tbk operates as an independent power producer company in Indonesia. The company generates electricity from hydro, diesel, and solar sources.
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PT Megapower Makmur Tbk operates as an independent power producer company in Indonesia. The company generates electricity from hydro, diesel, and solar sources. It also engages in investment holdings, civil engineering and building management, development and property management, toll road concessions, mining, building materials industry, and power plants, as well as in the operation, maintenance, and repair of the power plants; technical support; and management and training of the plant personnel. The company was founded in 2007 and is headquartered in Jakarta Utara, Indonesia.
Stock analysis
Megapower Makmur TBK PT (MPOW) currently trades at 110.00 IDR, while our model-based Fair Value estimate is 127.74 IDR, implying the stock looks roughly 13.9% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 117.07 IDR per share, and 8 of the 11 models we run sit above the 110.00 IDR price.
Bear case: the Asset-Based group reads lowest at 85.32 IDR, and 3 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 95.43 IDR (bear) to 173.51 IDR (bull), the price of 110.00 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 50/100 (solid quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Megapower Makmur TBK PT reported revenue of 34.0B IDR in FY2025 versus 42.0B IDR in FY2021, a compound −5.1%/yr. Reported net income was −11.2B IDR in FY2025.
Key figures
Market cap 89.9B IDR (≈ $5.0M) · P/E ratio 16.7 · P/S ratio 3.65 · EPS (TTM) 6.58 IDR · Net margin −32.9% · Return on equity −16.5% · Return on assets (EBIT) −1.7% · Operating margin −65.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −48% fair-value upside, at 16%, MPOW screens cheaper than that median.
Fair Value models
Bear 95.43 IDRFair Value 127.74 IDRBull 173.51 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 (4.83 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.29/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.0%
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.
−5.3%
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.
−2.6%
Start year 2020 (pandemic)
Revenue growth 9 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.
−6.0%
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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.
8.3% (2020) → −19.5% (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
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).
+5.1%
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 +2.4% a year for the price.
Compare Megapower Makmur TBK PT with another stock
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.Utilities - Independent Power Producers · 77 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Above median
Fair Value upside+15% · Above median
Profitability
Return on assets−6% · Bottom 25%
Net margin (TTM)−67% · Bottom 25%
Operating margin (TTM)−66% · Bottom 25%
Growth and dividend
Revenue growth−40% · Bottom 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper
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Is Megapower Makmur TBK PT (MPOW) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 127.74 IDR versus a price of 110.00 IDR, about +16% upside (undervalued).
What is the fair value of MPOW?
Our model-based fair value for Megapower Makmur TBK PT is 127.74 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 110.00 IDR.
What is the quality score of MPOW?
Megapower Makmur TBK PT has a Quality Score of 50/100. 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 Megapower Makmur TBK PT (MPOW)?
Our model-based price target is the fair value of 127.74 IDR (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 95.43 IDR, optimistic scenario 173.51 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Megapower Makmur TBK PT stock forecast for 2026?
Our models put fair value at 127.74 IDR, about +16% upside versus a price of 110.00 IDR (undervalued). Cautious scenario 95.43 IDR, optimistic scenario 173.51 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Megapower Makmur TBK PT (MPOW)?
Megapower Makmur TBK PT reported trailing-twelve-month revenue of about 26.2B IDR (latest available figure, as of Sep 24, 2026).
What growth is priced into Megapower Makmur TBK PT (MPOW)?
For today's price to be fair in a discounted-cash-flow model, Megapower Makmur TBK PT would have to grow free cash flow by +5.1 % 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 -2.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MPOW use?
Our models discount Megapower Makmur TBK PT at 10.5 %: a base by market capitalisation (nano), damped by beta 0.05, 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 Megapower Makmur TBK PT that is +5.1 % 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 Megapower Makmur TBK PT (MPOW) delivered so far?
Over the past 5 years revenue at Megapower Makmur TBK PT grew -2.6 % a year. The price currently implies +5.1 % 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 Megapower Makmur TBK PT (MPOW) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Megapower Makmur TBK PT (+5.1 % 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 Megapower Makmur TBK PT (MPOW)?
The free-cash-flow yield on the price is 9.81 %: that much free cash flow Megapower Makmur TBK PT 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 Megapower Makmur TBK PT (MPOW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Megapower Makmur TBK PT it is 127.74 IDR per share (as of Sep 24, 2026), against a price of 110.00 IDR. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Megapower Makmur TBK PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MPOW trades below its calculated fair value: price 110.00 IDR, fair value 127.74 IDR, a gap of about +16% (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 MPOW?
No. The price is what the market pays today (110.00 IDR); the fair value is what the company's own numbers justify (127.74 IDR). For Megapower Makmur TBK PT the two are 17.74 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Megapower Makmur TBK PT worth?
The market values Megapower Makmur TBK PT at about 89.9B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 110.00 IDR; our models calculate a fair value of 127.74 IDR per share.
What do the bullish and bearish scenarios say about MPOW?
Our models span a range for Megapower Makmur TBK PT: cautious scenario 95.43 IDR, base 127.74 IDR, optimistic 173.51 IDR per share (as of Sep 24, 2026, price 110.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MPOW?
Megapower Makmur TBK PT trades at a price-to-earnings ratio of 16.7 (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 127.74 IDR is built from several models across several years.
How solid is the balance sheet of Megapower Makmur TBK PT (MPOW)?
Balance-sheet figures for Megapower Makmur TBK PT (as of Sep 24, 2026): return on equity −16.5%, debt of 0.02 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is MPOW from its 52-week high?
Megapower Makmur TBK PT trades at 110.00 IDR, about 33% below its 52-week high of 165.00 IDR and 25% above the low of 88.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 127.74 IDR is for.
Which stocks are comparable to Megapower Makmur TBK PT?
From the same area (Utilities) we also value Constellation Energy Corporation, Vistra Corp, Adani Power Limited, CGN Power Co, 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 Megapower Makmur TBK PT stock attractive at the current price?
The data as of Sep 24, 2026: price 110.00 IDR, calculated fair value 127.74 IDR (+16%), Quality Score 50/100, from 11 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 MPOW calculated?
We run Megapower Makmur TBK PT through 11 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 127.74 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 13.0 % above its aggregate fair value. Megapower Makmur TBK PT currently trades 16 % 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 Megapower Makmur TBK PT (MPOW)?
The closing price on Sep 24, 2026 was 110.00 IDR. Our model-based fair value is 127.74 IDR, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Megapower Makmur TBK PT right now?
A fairly wide model range (95.43 IDR to 173.51 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.
Key figures of Megapower Makmur TBK PT
How large is the market capitalisation of Megapower Makmur TBK PT (MPOW)?
The market capitalisation of Megapower Makmur TBK PT is 89.9B IDR (≈ $5.0M). 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 Megapower Makmur TBK PT (MPOW)?
The price-to-sales ratio of Megapower Makmur TBK PT is 3.65 (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 Megapower Makmur TBK PT (MPOW)?
Earnings per share at Megapower Makmur TBK PT are 6.58 IDR (price ÷ EPS = P/E 16.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Megapower Makmur TBK PT (MPOW)?
The net margin of Megapower Makmur TBK PT is −32.9% (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 Megapower Makmur TBK PT (MPOW)?
The return on equity (ROE) of Megapower Makmur TBK PT is −16.5% (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 Megapower Makmur TBK PT (MPOW)?
On an EBIT basis the return on assets of Megapower Makmur TBK PT is −1.7% (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 Megapower Makmur TBK PT (MPOW)?
The operating margin of Megapower Makmur TBK PT is −65.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Megapower Makmur TBK PT (MPOW)?
Revenue at Megapower Makmur TBK PT is growing −40.4% versus a year earlier (3y avg −5.3%). 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 Megapower Makmur TBK PT (MPOW)?
Earnings per share at Megapower Makmur TBK PT are growing −65.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Megapower Makmur TBK PT (MPOW) carry?
The net debt of Megapower Makmur TBK PT is 31.6B IDR (fiscal year 2025, ≈ 3.6 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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