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PT Metropolitan Land Tbk, (MTLA) Fair Value & Analysis

Real Estate · ID · Market cap 3.8T IDR

PM PT Metropolitan Land Tbk, MTLA · JK
Price520.00 IDR
Fair Value917.01 IDR
Upside+76.4%
Quality52/100
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Expensive Growth
Highly profitable · 22.5% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/13)
Moderate moat 59/100
Evidence: Medium Range 687.76 IDR – 1,146 IDR Share as image

Fair value as of: Jul 14, 2026

From 9 valuation models · updated 27 days ago

Share price +1.0% over the past month.

A solid business, screening 76% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (687.76 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

642.29 IDR 274.60 IDR Fair Value 917.01 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 274.60 IDR – 642.29 IDR · fair‑value band 687.76 IDR – 1,146 IDR · the 520.00 IDR price screens below the 917.01 IDR fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

PT Metropolitan Land Tbk, (MTLA) currently trades at 520.00 IDR, while our model-based Fair Value estimate is 917.01 IDR, implying the stock looks roughly 76.4% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PT Metropolitan Land Tbk, generated revenue of 1.8T IDR at a net margin of 22.5%. Revenue declined 0.9% year over year. It earns a return on equity of 7.9%. Net debt stands at 611B IDR. Fundamentals as of Jul 14, 2026

Our scenario range runs from 687.76 IDR (bear case) to 1,146 IDR (bull case); at 520.00 IDR, the current price sits below 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 28% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -13% fair-value upside, at 76%, MTLA 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
Residual Income 597.58 IDR 638.64 IDR 721.97 IDR 76
Gordon GGM 108.21 IDR 236.25 IDR 397.50 IDR 70
DDM Multi-Stage 108.21 IDR 193.53 IDR 246.21 IDR 61
All 9 models by family
Dividend Discount
Gordon GGM 108.21 IDR 236.25 IDR 397.50 IDR 70
DDM Multi-Stage 108.21 IDR 193.53 IDR 246.21 IDR 61
Multiples
P/S Multiple 687.76 IDR 917.01 IDR 1,146 IDR 58
P/B Multiple 687.76 IDR 917.01 IDR 1,146 IDR 55
EV/EBIT 1,029 IDR 1,379 IDR 1,728 IDR 53
EV/EBITDA 953.86 IDR 1,278 IDR 1,602 IDR 54
EV/Revenue 559.44 IDR 807.08 IDR 1,055 IDR 43
Asset-Based
NCAV (Graham) 358.28 IDR 480.09 IDR 716.56 IDR 50
Economic Profit
Residual Income 597.58 IDR 638.64 IDR 721.97 IDR 76

Widest divergence: Multiples (917.01 IDR) versus Dividend Discount (193.53 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.8T IDR
Revenue growth (YoY) -0.9%
Net margin 22.5%
Return on equity 7.9%
Free cash flow −211B IDR FY2025
P/E ratio 9.6
More key figures
Operating margin 20.3%
EPS (TTM) 52.22 IDR
EPS growth (YoY) -17.5%
Net debt 611B IDR FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 49 · Market factors (momentum, volatility) 51

Profitability 40
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

PT Metropolitan Land Tbk, together with its subsidiaries, develops residential and commercial properties in Indonesia. It operates through Real Estate, Shopping Center, Hotel, and Others segments. The company's development portfolio comprises housing, hotels, recreation centers, sports centers, shopping centers, apartments, and offices.

Full company description

PT Metropolitan Land Tbk, together with its subsidiaries, develops residential and commercial properties in Indonesia. It operates through Real Estate, Shopping Center, Hotel, and Others segments. The company's development portfolio comprises housing, hotels, recreation centers, sports centers, shopping centers, apartments, and offices. It also engages in land acquisition; rental of land, shopping centers, and apartments; hotel construction and operation; sale of land and buildings, including residential houses shop houses, office houses, apartments, and offices; operation of sports centers and recreation centers; provision of management services; and restaurant and food industry activities. PT Metropolitan Land Tbk was founded in 1994 and is headquartered in Bekasi, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Metropolitan Land Tbk, reported revenue of 1.8T IDR in FY2025 versus 1.2T IDR in FY2021, a compound +10.4%/yr. Reported net income was 413B IDR in FY2025, compounding +2.6%/yr from FY2021.

Growth Quality 48/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.8T IDR
Latest YoY
−11.9%
Avg. 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.
+8.7%
Avg. 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.
+9.9%
Avg. growth/yr (17Y) 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.
+10.9%
Revenue +10.4%/yr
FY21 1.2T IDR
FY22 1.4T IDR
FY23 1.7T IDR
FY24 2.0T IDR
FY25 1.8T IDR
Net income +2.6%/yr
FY21 372B IDR
FY22 395B IDR
FY23 418B IDR
FY24 469B IDR
FY25 413B IDR
Character of growth · EPS growth decomposed (2014-2025) +6.2 % p.a.
Revenue per share +5.6 pp

of which total revenue +5.7 pp · buybacks/dilution −0.1 pp

EBIT margin −2.4 pp
Tax rate +1.0 pp
Residual (interest, one-offs) +2.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "PT Metropolitan Land Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/MTLA

Peer Group

Real Estate Services · 520 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 52 · Below median
Fair Value upside +76% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 23% · Above median
Operating margin (TTM) 20% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.13× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 9.6× · Cheaper than median
P/B 0.70× · Pricier than median
P/S (TTM) 2.15× · Pricier than median
EV/EBITDA 6.5× · 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.

VALUE 100 · sector 37
FUTURE 0 · sector 10
PAST 31 · sector 16
HEALTH 94 · sector 85
DIVIDEND 0 · sector 49

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.92 HK$34.92 -13%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
WHA Corporation WHAR 5.45 THB 4.14 THB -24%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%

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Frequently asked questions

Is PT Metropolitan Land Tbk, (MTLA) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 917.01 IDR versus a price of 520.00 IDR, about +76% (undervalued).
What is the fair value of MTLA?
Our model-based fair value for PT Metropolitan Land Tbk, is 917.01 IDR (as of Jul 14, 2026), built from audited fundamentals. The current price is 520.00 IDR.
What is the quality score of MTLA?
PT Metropolitan Land Tbk, has a Quality Score of 52/100. 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 Metropolitan Land Tbk, (MTLA)?
PT Metropolitan Land Tbk, reported trailing-twelve-month revenue of about 1.8T IDR (latest available figure, as of Jul 14, 2026).
What is the net profit margin of MTLA?
The net profit margin of PT Metropolitan Land Tbk, is about 22.5%, meaning it keeps roughly 22.5% of revenue as net income. Based on the latest reported figures.

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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