Protech Mitra Perkasa Tbk PT (OASA) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Protech Mitra Perkasa Tbk PT stock IDR 127, price IDR 186, upside -31.7%, quality 47 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 28, 2026.
How to read this chart
60‑month range 37.88 IDR – 520.00 IDR · fair‑value band 86.25 IDR – 136.67 IDR · the 186.00 IDR price screens above the 127.08 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Oct 28, 2026.
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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.
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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 186.00 IDR, while our model-based Fair Value estimate is 127.08 IDR, 31.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 193.18 IDR per share, and 1 of the 6 models we run sit above the 186.00 IDR price.
Bear case: the DCF Models group reads lowest at 127.08 IDR, and 5 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 86.25 IDR (bear) to 136.67 IDR (bull), the price of 186.00 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 47/100 (below-average quality), in the Industrials 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 1.2T IDR (≈ $63.8M) Micro · P/E ratio 70.6 · P/S ratio 99.2 · EPS (TTM) −10.01 IDR · Net margin −131% · Return on equity −12.4% · Return on assets (EBIT) −2.6% · Operating margin −309%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).
What moves the price
The share trades about 64% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −32% fair-value upside, at −32%, OASA screens cheaper than that median.
Fair Value models
Bear86.25 IDRFair Value 127.08 IDRBull136.67 IDR
Price 186.00 IDR · Upside -31.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.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%
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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.
−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).
+13.9%
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 +11.0% a year for the price.
Compare Protech Mitra Perkasa 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.Engineering & Construction · 794 stocks
Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−31.7% · Below median
Profitability
Return on assets−6.9% · Bottom 25%
Net margin (12 months)−131.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)14.4% · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)70.6× · Priciest 25%
P/B2.07× · Pricier than median
P/S (12 months)76.89× · Priciest 25%
Price / free cash flow16.0× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)72· sector 20
PAST (return on equity)0· sector 30
HEALTH (low debt)100· sector 94
DIVIDEND (yield)0· sector 42
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Protech Mitra Perkasa Tbk PT (OASA) overvalued or undervalued?
As of Oct 28, 2026, our model estimates a fair value of 127.08 IDR versus a price of 186.00 IDR, about −32% upside (overvalued).
What is the fair value of OASA?
Our model-based fair value for Protech Mitra Perkasa Tbk PT is 127.08 IDR (as of Oct 28, 2026), built from audited fundamentals. The current price: 186.00 IDR.
What is the quality score of OASA?
Protech Mitra Perkasa Tbk PT has a Quality Score of 47/100. 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 127.08 IDR (as of Oct 28, 2026) from 6 valuation models. Cautious scenario 86.25 IDR, optimistic scenario 136.67 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 127.08 IDR, about −32% upside versus a price of 186.00 IDR (overvalued). Cautious scenario 86.25 IDR, optimistic scenario 136.67 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 15.1B IDR (latest available figure, as of Oct 28, 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 +13.9 % 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 Oct 28, 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 0.30, 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 +13.9 % 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 +13.9 % 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 +7.7 % a year. That is the yardstick for the growth priced into Protech Mitra Perkasa Tbk PT (+13.9 % 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 6.15 %: 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 127.08 IDR per share (as of Oct 28, 2026), against a price of 186.00 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 Oct 28, 2026, OASA trades above its calculated fair value: price 186.00 IDR, fair value 127.08 IDR, a gap of about −32% (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 (186.00 IDR); the fair value is what the company's own numbers justify (127.08 IDR). For Protech Mitra Perkasa Tbk PT the two are 58.92 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 1.2T IDR (market capitalisation, as of Oct 28, 2026). Per share that is 186.00 IDR; our models calculate a fair value of 127.08 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 86.25 IDR, base 127.08 IDR, optimistic 136.67 IDR per share (as of Oct 28, 2026, price 186.00 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 Oct 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 127.08 IDR is built from several models across several years. Other multiples: P/B 2.1, P/S 76.9.
How solid is the balance sheet of Protech Mitra Perkasa Tbk PT (OASA)?
Balance-sheet figures for Protech Mitra Perkasa Tbk PT (as of Oct 28, 2026): return on equity −12.4%. They feed the Quality Score of 47/100, 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 186.00 IDR, about 64% below its 52-week high of 520.00 IDR and 16% above the low of 160.00 IDR (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 127.08 IDR is for.
Which stocks are comparable to Protech Mitra Perkasa Tbk PT?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 Oct 28, 2026: price 186.00 IDR, calculated fair value 127.08 IDR (−32%), Quality Score 47/100, 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 127.08 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 13.4 % 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 is the share price of Protech Mitra Perkasa Tbk PT (OASA)?
The closing price on Oct 28, 2026 was 186.00 IDR. Our model-based fair value is 127.08 IDR, about −32% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Protech Mitra Perkasa Tbk PT right now?
The price sits above even our optimistic bull case (136.67 IDR). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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 1.2T IDR (≈ $63.8M). 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 Protech Mitra Perkasa Tbk PT (OASA)?
The price-to-sales ratio of Protech Mitra Perkasa Tbk PT is 99.2 (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 Protech Mitra Perkasa Tbk PT (OASA)?
Earnings per share at Protech Mitra Perkasa Tbk PT are −10.01 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 −12.4% (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 −309% (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 +14.4% 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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Thin data
Oct 28, 2026