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Protech Mitra Perkasa Tbk PT (OASA) fair value: what the stock is really worth

We calculate from audited financials what Protech Mitra Perkasa Tbk PT is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Utilities · ID · ISIN ID1000137607

PM Thin data Sep 13, 2026

Protech Mitra Perkasa Tbk PT

OASA · JK

Weakest SetupStrongly overvalued and low quality.

!Fair value 149.32 IDR · Strongly overvalued (−51%)
!Quality 40/100
!Weak Growth (revenue 3y −7.2 %/yr)
!Loss-making · -131.3% net margin (FY2025)
✓Low debt · generates free cash flow
!Trails peers (3/10)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

520.00 IDR 37.88 IDR Fair Value 149.32 IDR Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range 37.88 IDR – 520.00 IDR · fair‑value band 98.64 IDR – 162.15 IDR · the 306.00 IDR price screens above the 149.32 IDR fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

PT Maharaksa Biru Energi Tbk, an investment holding company, engages in the construction and renewable energy businesses in Indonesia. The company provides water treatment, waste management, and waste material disposal services. It is also involved in the waste material treatment and recovery activities and remediation.

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PT Maharaksa Biru Energi Tbk, an investment holding company, engages in the construction and renewable energy businesses in Indonesia. The company provides water treatment, waste management, and waste material disposal services. It is also involved in the waste material treatment and recovery activities and remediation. In addition, the company engages in construction of buildings and civil structures; collection, treatment, and disposal of waste and rubbish, as well as material recovery activities; wholesale trading business; and procurement of electricity. Further, it offers accommodation, and food and beverages; real estate, general trading, mining and digging, transportation and warehousing, forestry and fisheries, financial, and insurance services; and engages in the supplying of electricity, gas, steam/hot water, and air conditioning. The company was formerly known as PT Protech Mitra Perkasa Tbk and changed its name to PT Maharaksa Biru Energi Tbk in October 2022. PT Maharaksa Biru Energi Tbk was founded in 2006 and is headquartered in Jakarta Selatan, Indonesia.

Stock analysis

Protech Mitra Perkasa Tbk PT (OASA) currently trades at 306.00 IDR, while our model-based Fair Value estimate is 149.32 IDR, implying the stock looks roughly 104.9% overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of 404.87 IDR per share, and 2 of the 6 models we run sit above the 306.00 IDR price.

Bear case: the Asset-Based group reads lowest at 59.31 IDR, and 4 of the 6 models stay below the price. Evidence for this calculation is low.

Scenario range: 98.64 IDR (bear) to 162.15 IDR (bull), the price of 306.00 IDR sits above 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 40/100 (below-average quality), in the Utilities sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Protech Mitra Perkasa Tbk PT reported revenue of 32.6B IDR in FY2025 versus 3.4B IDR in FY2021, a compound +75.8%/yr. Reported net income was −42.8B IDR in FY2025.

Key figures

Market cap 1.9T IDR (≈ $194M) · P/E ratio 70.6 · EPS (TTM) −9.21 IDR · Net margin −131% · Return on equity −10.9% · Return on assets (EBIT) −2.6% · Operating margin −731% · Revenue (TTM) 14.5B IDR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 48% below its 52-week high and 117% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −10% fair-value upside, at −51%, OASA screens richer than that median.

Fair Value models

Bear 98.64 IDR Fair Value 149.32 IDR Bull 162.15 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 8 months old). Earnings retained since then (2.55 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.
Highest evidence
FCF DCF 207.94 IDR 333.00 IDR 741.93 IDR 70
Growth DCF 196.19 IDR 404.87 IDR 755.33 IDR 70
5Y Revenue Exit 62.47 IDR 77.51 IDR 106.64 IDR 69
All 6 models by family
DCF Models
FCF DCF 207.94 IDR 333.00 IDR 741.93 IDR 70
5Y Revenue Exit 62.47 IDR 77.51 IDR 106.64 IDR 69
10Y Revenue Exit 103.72 IDR 158.23 IDR 172.27 IDR 64
Multiples
EV/Revenue 10.19 IDR 12.96 IDR 15.73 IDR 54
Asset-Based
NCAV (Graham) 44.26 IDR 59.31 IDR 88.52 IDR 54
Growth DCF
Growth DCF 196.19 IDR 404.87 IDR 755.33 IDR 70

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Quality Score breakdown

Overall quality 40/100

Of which business quality 48 · Market factors (momentum, volatility) 54

Profitability 0
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 40
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 15/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−51.2%
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.
−7.2%
Revenue growth 12 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.
−1.4%
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.
−205.7% (2020) → −110.2% (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

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).
+24.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.

OASA screens 105% overvalued. Compare with China Yangtze Power Co →

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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 - Renewable · 209 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 40 · Below median
Profitability
Return on assets −5% · Bottom 25%
Net margin (TTM) 0% · Below median
Growth and dividend
Revenue growth −88% · Bottom 25%

Valuation Multiplesvs Utilities - Renewable median · lower = cheaper

P/E (TTM) 70.6× · Priciest 25%
P/S (TTM) 0.01× · Cheapest 25%
P/FCF 0.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 17
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 12
HEALTH (low debt)100 · sector 68
DIVIDEND (yield)0 · sector 48

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

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AXIA Energia SA AXIAP $10.74 $9.63 −10%
VERBUND AG VER €60.40 €55.03 −9%
BEP BEP $30.39 $70.40 +132%
BEPUN BEPUN C$42.13 C$42.46 +1%
Fortum Oyj FORTUM €23.99 €13.55 −44%
China Longyuan Power Group 001289 ¥15.18 ¥7.55 −50%

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Protech Mitra Perkasa Tbk PT · Fair Value
149.32 IDR −105%Fair Value
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Cite: Fair Value Calculator (2026). "Protech Mitra Perkasa Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/OASA

Frequently asked questions

Is Protech Mitra Perkasa Tbk PT (OASA) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 149.32 IDR versus a price of 306.00 IDR, about −51% upside (overvalued).
What is the fair value of OASA?
Our model-based fair value for Protech Mitra Perkasa Tbk PT is 149.32 IDR (as of Sep 13, 2026), built from audited fundamentals. The current price: 306.00 IDR.
What is the quality score of OASA?
Protech Mitra Perkasa Tbk PT has a Quality Score of 40/100. 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 Protech Mitra Perkasa Tbk PT (OASA)?
Our model-based price target is the fair value of 149.32 IDR (as of Sep 13, 2026) from 6 valuation models. Cautious scenario 98.64 IDR, optimistic scenario 162.15 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Protech Mitra Perkasa Tbk PT stock forecast for 2026?
Our models put fair value at 149.32 IDR, about −51% upside versus a price of 306.00 IDR (overvalued). Cautious scenario 98.64 IDR, optimistic scenario 162.15 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Protech Mitra Perkasa Tbk PT (OASA)?
Protech Mitra Perkasa Tbk PT reported trailing-twelve-month revenue of about 46.8B IDR (latest available figure, as of Sep 13, 2026).
What growth is priced into Protech Mitra Perkasa Tbk PT (OASA)?
For today's price to be fair in a discounted-cash-flow model, Protech Mitra Perkasa Tbk PT would have to grow free cash flow by +24.0 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +93.2 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of OASA use?
Our models discount Protech Mitra Perkasa Tbk PT at 13.5 %: a base by market capitalisation (micro), damped by beta 0.35, 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 Protech Mitra Perkasa Tbk PT that is +24.0 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has Protech Mitra Perkasa Tbk PT (OASA) delivered so far?
Over the past 5 years revenue at Protech Mitra Perkasa Tbk PT grew +93.2 % a year. The price currently implies +24.0 % 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 Protech Mitra Perkasa Tbk PT (OASA) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Protech Mitra Perkasa Tbk PT (+24.0 % 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 Protech Mitra Perkasa Tbk PT (OASA)?
The free-cash-flow yield on the price is 3.74 %: that much free cash flow Protech Mitra Perkasa Tbk PT produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Protech Mitra Perkasa Tbk PT (OASA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Protech Mitra Perkasa Tbk PT it is 149.32 IDR per share (as of Sep 13, 2026), against a price of 306.00 IDR. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Protech Mitra Perkasa Tbk PT stock overvalued or undervalued in 2026?
As of Sep 13, 2026, OASA trades above its calculated fair value: price 306.00 IDR, fair value 149.32 IDR, a gap of about −51% (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 OASA?
No. The price is what the market pays today (306.00 IDR); the fair value is what the company's own numbers justify (149.32 IDR). For Protech Mitra Perkasa Tbk PT the two are 156.68 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Protech Mitra Perkasa Tbk PT worth?
The market values Protech Mitra Perkasa Tbk PT at about 1.9T IDR (market capitalisation, as of Sep 13, 2026). Per share that is 306.00 IDR; our models calculate a fair value of 149.32 IDR per share.
What do the bullish and bearish scenarios say about OASA?
Our models span a range for Protech Mitra Perkasa Tbk PT: cautious scenario 98.64 IDR, base 149.32 IDR, optimistic 162.15 IDR per share (as of Sep 13, 2026, price 306.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of OASA?
Protech Mitra Perkasa Tbk PT trades at a price-to-earnings ratio of 70.6 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 149.32 IDR is built from several models across several years. Other multiples: P/S 0.0.
How solid is the balance sheet of Protech Mitra Perkasa Tbk PT (OASA)?
Balance-sheet figures for Protech Mitra Perkasa Tbk PT (as of Sep 13, 2026): return on equity −10.9%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is OASA from its 52-week high?
Protech Mitra Perkasa Tbk PT trades at 306.00 IDR, about 48% below its 52-week high of 590.00 IDR and 117% above the low of 141.00 IDR (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 149.32 IDR is for.
Which stocks are comparable to Protech Mitra Perkasa Tbk PT?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Adani Green Energy Limited, 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 Protech Mitra Perkasa Tbk PT stock attractive at the current price?
The data as of Sep 13, 2026: price 306.00 IDR, calculated fair value 149.32 IDR (−51%), Quality Score 40/100, from 6 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 OASA calculated?
We run Protech Mitra Perkasa Tbk PT through 6 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 149.32 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 15.8 % above its aggregate fair value. Protech Mitra Perkasa Tbk PT 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 should I pay attention to with Protech Mitra Perkasa Tbk PT right now?
The price sits above even our optimistic bull case (162.15 IDR). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Protech Mitra Perkasa Tbk PT

How large is the market capitalisation of Protech Mitra Perkasa Tbk PT (OASA)?
The market capitalisation of Protech Mitra Perkasa Tbk PT is 1.9T IDR (≈ $194M). 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 are the earnings per share of Protech Mitra Perkasa Tbk PT (OASA)?
Earnings per share at Protech Mitra Perkasa Tbk PT are −9.21 IDR (price ÷ EPS = P/E 70.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Protech Mitra Perkasa Tbk PT (OASA)?
The net margin of Protech Mitra Perkasa Tbk PT is −131% (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 Protech Mitra Perkasa Tbk PT (OASA)?
The return on equity (ROE) of Protech Mitra Perkasa Tbk PT is −10.9% (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 Protech Mitra Perkasa Tbk PT (OASA)?
On an EBIT basis the return on assets of Protech Mitra Perkasa Tbk PT is −2.6% (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 Protech Mitra Perkasa Tbk PT (OASA)?
The operating margin of Protech Mitra Perkasa Tbk PT is −731% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Protech Mitra Perkasa Tbk PT (OASA)?
Revenue at Protech Mitra Perkasa Tbk PT is growing −88.3% versus a year earlier (3y avg −7.2%). 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 Protech Mitra Perkasa Tbk PT (OASA)?
Earnings per share at Protech Mitra Perkasa Tbk PT are growing +71.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Protech Mitra Perkasa Tbk PT (OASA) hold?
Protech Mitra Perkasa Tbk PT holds more cash than debt, 5.4B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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