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PT Paragon Karya Perkasa Tbk, (PKPK) Fair Value & Analysis

Industrials · ID · Market cap 3.9T IDR

PP PT Paragon Karya Perkasa Tbk, PKPK · JK
Price3,860 IDR
Fair Value450.28 IDR
Upside-88.3%
Quality45/100
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Mixed Growth
Thin margins · 6.3% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Moderate moat 60/100
Evidence: Medium Range 337.71 IDR – 1,386 IDR Share as image

Fair value as of: Jul 16, 2026

From 16 valuation models · updated 25 days ago

Share price +21.4% over the past month.

Below-average quality, and screening another 88% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,386 IDR). The favourable scenario is already priced in.
  • The model range is unusually wide (337.71 IDR to 1,386 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

3,950 IDR 50.00 IDR Fair Value 450.28 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 50.00 IDR – 3,950 IDR · fair‑value band 337.71 IDR – 1,386 IDR · the 3,860 IDR price screens above the 450.28 IDR fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

PT Paragon Karya Perkasa Tbk, (PKPK) currently trades at 3,860 IDR, while our model-based Fair Value estimate is 450.28 IDR, implying the stock looks roughly 88.3% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, PT Paragon Karya Perkasa Tbk, generated revenue of 888B IDR at a net margin of 6.3%. Revenue grew 239.9% year over year. It earns a return on equity of 27.1%. The balance sheet holds a net cash position of 31.4B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 337.71 IDR (bear case) to 1,386 IDR (bull case); at 3,860 IDR, the current price sits above 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 near its 52-week high, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -88%, PKPK screens richer 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (83.84 IDR to 1,525 IDR). Read the values as a conservative anchor, not as a price target.
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 223.83 IDR 306.69 IDR 1,110 IDR 76
ROIC Compounder 579.02 IDR 934.93 IDR 1,182 IDR 72
Gordon GGM 46.88 IDR 102.35 IDR 172.21 IDR 70
All 16 models by family
Earnings-Based
Graham-Dodd 218.71 IDR 1,525 IDR 2,140 IDR 54
Lynch FV 787.98 IDR 1,126 IDR 1,463 IDR 50
PEG = 1.0 787.98 IDR 1,126 IDR 1,463 IDR 46
EPV 410.73 IDR 482.10 IDR 545.54 IDR 59
Dividend Discount
Gordon GGM 46.88 IDR 102.35 IDR 172.21 IDR 70
DDM Multi-Stage 46.88 IDR 83.84 IDR 106.67 IDR 61
Multiples
P/E Multiple 337.71 IDR 450.28 IDR 562.84 IDR 63
P/S Multiple 410.07 IDR 546.76 IDR 683.45 IDR 58
P/B Multiple 291.23 IDR 388.31 IDR 485.39 IDR 55
EV/EBIT 403.56 IDR 535.97 IDR 668.39 IDR 53
EV/EBITDA 293.79 IDR 389.61 IDR 485.44 IDR 54
EV/Revenue 488.30 IDR 694.87 IDR 901.43 IDR 43
Asset-Based
NCAV (Graham) 107.86 IDR 144.54 IDR 215.73 IDR 50
Economic Profit
Residual Income 223.83 IDR 306.69 IDR 1,110 IDR 76
ROIC Compounder 579.02 IDR 934.93 IDR 1,182 IDR 72
Growth Earnings
Growth-Adj P/E 923.51 IDR 1,319 IDR 1,715 IDR 68

Widest divergence: Growth Earnings (1,319 IDR) versus Dividend Discount (83.84 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 888B IDR
Revenue growth (YoY) +240%
Net margin 6.3%
Return on equity 27.1%
Free cash flow −46.8B IDR FY2025
P/E ratio 68.9
More key figures
Operating margin 14.3%
EPS (TTM) 46.62 IDR
EPS growth (YoY) +18,160%
Net cash 31.4B IDR FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 81

Profitability 58
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 16
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 94
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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 Paragon Karya Perkasa Tbk, together with its subsidiaries, provides oil and gas supporting construction services in Indonesia.

Full company description

PT Paragon Karya Perkasa Tbk, together with its subsidiaries, provides oil and gas supporting construction services in Indonesia. The company also offers civil construction for mining, geothermal, bridges, overpasses, flyovers, underpasses, clean water treatment facilities, water resource infrastructure, as well as solid, liquid, and gas waste treatment infrastructure and system; and oil and gas, electricity, instrumentation and mechanical installation services. In addition, it engages in residential, office, industrial, other building, and prefabricated building construction services; civil road construction; civil electrical construction; irrigation and drainage network, civil electrical building, and telecommunications central construction; and construction of irrigation, communication, and other waste networks. Further, the company provides non-fishing port construction; dredging, demolition, and painting services; prefabricated civil construction services; flooring, wall, sanitary equipment, and ceiling works; and electrical, telecommunications, electronics, plumbing, heating and geothermal, air conditioning and ventilation, foundation and piling, scaffolding, trusses, frame and roof covering, steel frame, and other installation services. Additionally, it engages in the provision of management consulting, as well as coal mining, mining, and support services; leasing equipment as well as operational support, maintenance and supply of various spare parts for light and heavy vehicles; business land preparation; wholesale trading of various goods; installation and maintenance of oil and gas pipelines; and earthworks. The company was formerly known as PT Perdana Karya Perkasa Tbk and changed its name to PT Paragon Karya Perkasa Tbk in June 2025. The company was founded in 1983 and is headquartered in Jakarta Selatan, Indonesia. PT Paragon Karya Perkasa Tbk is a subsidiary of PT Deli Putra Bangsa.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Paragon Karya Perkasa Tbk, reported revenue of 749B IDR in FY2025 versus 3.1B IDR in FY2021, a compound +295.0%/yr. Reported net income was 38.6B IDR in FY2025.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
749B IDR
Latest YoY
+206.1%
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.
+204.4%
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.
+112.4%
Avg. growth/yr (19Y) 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.
+7.0%
Revenue +295.0%/yr
FY21 3.1B IDR
FY22 26.6B IDR
FY23 57.8B IDR
FY24 245B IDR
FY25 749B IDR
Net income
FY21 −878M IDR
FY22 −29.4B IDR
FY23 −6.1B IDR
FY24 6.6B IDR
FY25 38.6B IDR

PKPK screens 88% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "PT Paragon Karya Perkasa Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/PKPK

Peer Group

Engineering & Construction · 839 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 45 · Below median
Fair Value upside −88% · Bottom 25%
Return on equity (TTM) 27% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 14% · Top 25%
Revenue growth 240% · Top 25%
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 68.9× · Pricier than 75% of peers
P/B 14.88× · Pricier than 75% of peers
P/S (TTM) 4.34× · Pricier than 75% of peers
EV/EBITDA 39.5× · Pricier 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 0 · sector 16
FUTURE 100 · sector 17
PAST 100 · sector 26
HEALTH 95 · sector 94
DIVIDEND 0 · sector 33

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

Insider activity: 40/100

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is PT Paragon Karya Perkasa Tbk, (PKPK) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 450.28 IDR versus a price of 3,860 IDR, about −88% (overvalued).
What is the fair value of PKPK?
Our model-based fair value for PT Paragon Karya Perkasa Tbk, is 450.28 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 3,860 IDR.
What is the quality score of PKPK?
PT Paragon Karya Perkasa Tbk, has a Quality Score of 45/100. 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 Paragon Karya Perkasa Tbk, (PKPK)?
PT Paragon Karya Perkasa Tbk, reported trailing-twelve-month revenue of about 888B IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of PKPK?
The net profit margin of PT Paragon Karya Perkasa Tbk, is about 6.3%, meaning it keeps roughly 6.3% 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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