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PT Malacca Trust Wuwungan Insurance Tbk (MTWI) Fair Value & Analysis

Financial Services · ID · Market cap 784B IDR

PM PT Malacca Trust Wuwungan Insurance Tbk MTWI · JK
Price256.00 IDR
Fair Value317.14 IDR
Upside+23.9%
Quality37/100
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Expensive Growth
Thin margins · 2.3% net margin
negative free cash flow
Trails peers (3/12)
Narrow moat 34/100
Evidence: High Range 237.86 IDR – 396.43 IDR Share as image

Fair value as of: Jul 17, 2026

From 6 valuation models · updated 24 days ago

Share price −5.9% over the past month.

Below-average quality, screening 24% undervalued on our models.

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from 237.86 IDR (bear) to 396.43 IDR (bull), base 317.14 IDR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 37/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

444.32 IDR 67.89 IDR Fair Value 317.14 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 67.89 IDR – 444.32 IDR · fair‑value band 237.86 IDR – 396.43 IDR · the 256.00 IDR price screens below the 317.14 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

PT Malacca Trust Wuwungan Insurance Tbk (MTWI) currently trades at 256.00 IDR, while our model-based Fair Value estimate is 317.14 IDR, implying the stock looks roughly 23.9% undervalued today. The Quality Score stands at 37/100 (below-average quality), in the Financial Services 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: high), always confirm before acting.

Over the trailing twelve months, PT Malacca Trust Wuwungan Insurance Tbk generated revenue of 1.9T IDR at a net margin of 2.3%. Revenue grew 57.5% year over year. It earns a return on equity of 11.0%. The balance sheet holds a net cash position of 135B IDR. Fundamentals as of Jul 17, 2026

Our scenario range runs from 237.86 IDR (bear case) to 396.43 IDR (bull case); at 256.00 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 47% below its 52-week high and 45% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 24%, MTWI 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 169.04 IDR 223.68 IDR 862.21 IDR 76
Gordon GGM 76.01 IDR 165.93 IDR 279.19 IDR 70
P/E Multiple 237.86 IDR 317.14 IDR 396.43 IDR 63
All 6 models by family
Dividend Discount
Gordon GGM 76.01 IDR 165.93 IDR 279.19 IDR 70
DDM Multi-Stage 76.01 IDR 135.93 IDR 172.93 IDR 61
Multiples
P/E Multiple 237.86 IDR 317.14 IDR 396.43 IDR 63
P/B Multiple 146.53 IDR 195.37 IDR 244.22 IDR 55
Asset-Based
NCAV (Graham) 69.78 IDR 93.50 IDR 139.55 IDR 50
Economic Profit
Residual Income 169.04 IDR 223.68 IDR 862.21 IDR 76

Widest divergence: Economic Profit (223.68 IDR) versus Asset-Based (93.50 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.9T IDR
Revenue growth (YoY) +57.5%
Net margin 2.3%
Return on equity 11.0%
Free cash flow −48.7B IDR FY2025
P/E ratio 60.4
More key figures
Operating margin 1.0%
EPS (TTM) 4.44 IDR
EPS growth (YoY) -85.1%
Net cash 135B IDR FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 30 · Market factors (momentum, volatility) 28

Profitability 47
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 9
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.

About the company

PT Malacca Trust Wuwungan Insurance Tbk engages in the provision of general insurance products in Indonesia. The company operates through General Insurance and Rental Property divisions.

Full company description

PT Malacca Trust Wuwungan Insurance Tbk engages in the provision of general insurance products in Indonesia. The company operates through General Insurance and Rental Property divisions. It offers health, fire, motor vehicles, cargo, marine hull, property all risk, cargo, travel, freight, home contents micro, movable property, and personal accident insurance products, as well as others, such as liabilities, engineering, and miscellaneous insurance products. It is also involved in property rental business. The company was formerly known as Pt Asuransi Wuwungan. The company was founded in 1952 and is headquartered in Jakarta Selatan, Indonesia. PT Malacca Trust Wuwungan Insurance Tbk is a subsidiary of PT Batavia Prosperindo Internasional Tbk.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Malacca Trust Wuwungan Insurance Tbk reported revenue of 1.7T IDR in FY2025 versus 87.1B IDR in FY2021, a compound +111.1%/yr. Reported net income was 71.3B IDR in FY2025, compounding +115.6%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.7T IDR
Latest YoY
+421.2%
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.
+153.7%
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.
+73.6%
Avg. growth/yr (11Y) 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.
+36.3%
Revenue +111.1%/yr
FY21 87.1B IDR
FY22 106B IDR
FY23 167B IDR
FY24 332B IDR
FY25 1.7T IDR
Net income +115.6%/yr
FY21 3.3B IDR
FY22 −8.4B IDR
FY23 12.2B IDR
FY24 75.6B IDR
FY25 71.3B IDR

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Cite: Fair Value Calculator (2026). "PT Malacca Trust Wuwungan Insurance Tbk Fair Value". https://www.fairvalue-calculator.com/stock/MTWI

Peer Group

Insurance - Diversified · 84 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 31 · Bottom 25%
Fair Value upside +24% · Above median
Return on equity (TTM) 11% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Bottom 25%
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 58% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Insurance - Diversified median · lower = cheaper

P/E (TTM) 60.4× · Pricier than 75% of peers
P/B 1.92× · Pricier than median
P/S (TTM) 0.41× · Cheaper than 75% of peers
EV/EBITDA 9.6× · Pricier than median

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 65 · sector 45
FUTURE 100 · sector 31
PAST 44 · sector 49
HEALTH 0 · sector 89
DIVIDEND 0 · sector 45

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 Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Berkshire Hathaway Inc BRKB 8,562 MXN 10,844 MXN +27%
Allianz SE ALV €421.00 €369.31 -12%
Zurich Insurance Group ZURN CHF 624.40 CHF 619.80 -1%
AXA SA AXAN 888.28 MXN 1,249 MXN +41%
Assicurazioni Generali S.p.A G €42.90 €12.18 -72%
Sun Life Financial Inc SLF C$114.20 C$87.83 -23%
BB Seguridade Participações S.A BBSE3 R$40.71 R$60.39 +48%
Tryg A/S TRYG kr 154.00 kr 116.45 -24%
PT Sinar Mas Multiartha Tbk SMMA 20,625 IDR 4,176 IDR -80%
Caixa Seguridade Participações S.A CXSE3 R$21.77 R$18.60 -15%

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Frequently asked questions

Is PT Malacca Trust Wuwungan Insurance Tbk (MTWI) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 317.14 IDR versus a price of 256.00 IDR, about +24% (undervalued).
What is the fair value of MTWI?
Our model-based fair value for PT Malacca Trust Wuwungan Insurance Tbk is 317.14 IDR (as of Jul 17, 2026), built from audited fundamentals. The current price is 256.00 IDR.
What is the quality score of MTWI?
PT Malacca Trust Wuwungan Insurance Tbk has a Quality Score of 37/100. 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 Malacca Trust Wuwungan Insurance Tbk (MTWI)?
PT Malacca Trust Wuwungan Insurance Tbk reported trailing-twelve-month revenue of about 1.9T IDR (latest available figure, as of Jul 17, 2026).
What is the net profit margin of MTWI?
The net profit margin of PT Malacca Trust Wuwungan Insurance Tbk is about 2.3%, meaning it keeps roughly 2.3% 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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