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PT Plaza Indonesia Realty Tbk (PLIN) Fair Value & Analysis

Real Estate · ID · Market cap 8.9T IDR

PP PT Plaza Indonesia Realty Tbk PLIN · JK
Price2,510 IDR
Fair Value3,074 IDR
Upside+22.5%
Quality69/100
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Healthy Growth
Highly profitable · 46.2% net margin
Low debt · generates free cash flow
Ranks above peers (12/15)
Moderate moat 63/100
Evidence: High Range 2,305 IDR – 3,842 IDR Share as image

Fair value as of: Jul 16, 2026

From 16 valuation models · updated 24 days ago

A solid business, screening 22% undervalued on our models.

What matters now

  • Solid quality (69/100) 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)

3,163 IDR 1,483 IDR Fair Value 3,074 IDR Jan 2021 Jul 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 1,483 IDR – 3,163 IDR · fair‑value band 2,305 IDR – 3,842 IDR · the 2,510 IDR price screens below the 3,074 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

PT Plaza Indonesia Realty Tbk (PLIN) currently trades at 2,510 IDR, while our model-based Fair Value estimate is 3,074 IDR, implying the stock looks roughly 22.5% undervalued today. The Quality Score stands at 69/100 (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: high), always confirm before acting.

Over the trailing twelve months, PT Plaza Indonesia Realty Tbk generated revenue of 1.4T IDR at a net margin of 46.2%. Revenue grew 4.8% year over year. It earns a return on equity of 5.7%. The balance sheet holds a net cash position of 220B IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 2,305 IDR (bear case) to 3,842 IDR (bull case); at 2,510 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 near its 52-week high and 6% 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 22%, PLIN 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 BearBaseBull Evidence
Highest evidence
Growth DCF 2,514 IDR 3,685 IDR 5,413 IDR 80
Residual Income 2,577 IDR 2,679 IDR 2,727 IDR 76
Rev-Margin DCF 1,728 IDR 2,542 IDR 3,404 IDR 74
All 16 models by family
DCF Models
FCF DCF 2,449 IDR 3,733 IDR 5,728 IDR 38
5Y Revenue Exit 1,728 IDR 2,517 IDR 3,489 IDR 39
5Y EBITDA Exit 2,211 IDR 3,399 IDR 4,748 IDR 41
10Y Revenue Exit 1,920 IDR 2,698 IDR 3,678 IDR 36
10Y EBITDA Exit 2,274 IDR 3,317 IDR 4,639 IDR 37
Dividend Discount
Gordon GGM 1,645 IDR 3,592 IDR 6,043 IDR 70
DDM Multi-Stage 1,645 IDR 2,632 IDR 3,728 IDR 61
Multiples
P/S Multiple 1,932 IDR 2,576 IDR 3,220 IDR 58
P/B Multiple 2,305 IDR 3,074 IDR 3,842 IDR 55
EV/EBIT 2,535 IDR 3,359 IDR 4,183 IDR 53
EV/EBITDA 2,353 IDR 3,116 IDR 3,879 IDR 54
EV/Revenue 1,427 IDR 2,011 IDR 2,595 IDR 43
Asset-Based
NCAV (Graham) 1,609 IDR 2,156 IDR 3,219 IDR 50
Growth DCF
Growth DCF 2,514 IDR 3,685 IDR 5,413 IDR 80
Rev-Margin DCF 1,728 IDR 2,542 IDR 3,404 IDR 74
Economic Profit
Residual Income 2,577 IDR 2,679 IDR 2,727 IDR 76

Widest divergence: DCF Models (3,317 IDR) versus Asset-Based (2,156 IDR). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.4T IDR
Revenue growth (YoY) +4.8%
Net margin 46.2%
Return on equity 5.7%
Free cash flow 726B IDR FY2025
P/E ratio 8.9
More key figures
Operating margin 43.5%
EPS (TTM) 282.12 IDR
EPS growth (YoY) +11.7%
Net cash 220B IDR FY2025

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

Quality Score breakdown

Overall quality 69/100

Of which business quality 66 · Market factors (momentum, volatility) 68

Profitability 37
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 70
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 Plaza Indonesia Realty Tbk engages in the shopping center rental business in Indonesia. It operates through Hotel, Shopping Center, and Office segments. The company operates Plaza Indonesia Shopping Center, The Plaza Office Tower, and Grand Hyatt Hotel, as well as develops commercial properties.

Full company description

PT Plaza Indonesia Realty Tbk engages in the shopping center rental business in Indonesia. It operates through Hotel, Shopping Center, and Office segments. The company operates Plaza Indonesia Shopping Center, The Plaza Office Tower, and Grand Hyatt Hotel, as well as develops commercial properties. The company was founded in 1983 and is headquartered in Jakarta, Indonesia. PT Plaza Indonesia Realty Tbk is a subsidiary of PT Plaza Indonesia Investama.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Plaza Indonesia Realty Tbk reported revenue of 1.4T IDR in FY2025 versus 871B IDR in FY2021, a compound +12.6%/yr. Reported net income was 639B IDR in FY2025, compounding +9.3%/yr from FY2021.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.4T IDR
Latest YoY
+1.1%
Avg. growth/yr (3Y)
+8.5%
Avg. growth/yr (5Y)
+8.6%
Avg. growth/yr (25Y)
+7.9%
Revenue +12.6%/yr
FY21 871B IDR
FY22 1.1T IDR
FY23 1.3T IDR
FY24 1.4T IDR
FY25 1.4T IDR
Net income +9.3%/yr
FY21 448B IDR
FY22 557B IDR
FY23 613B IDR
FY24 998B IDR
FY25 639B IDR

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Cite: Fair Value Calculator (2026). "PT Plaza Indonesia Realty Tbk Fair Value". https://www.fairvalue-calculator.com/stock/PLIN

Peer Group

Real Estate Services · 521 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 68 · Top 25%
Fair Value upside +23% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 46% · Top 25%
Operating margin (TTM) 44% · Above median
Revenue growth 5% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 8.9× · Cheaper than median
P/B 0.78× · Pricier than median
P/S (TTM) 6.26× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 11.8× · Cheaper than median
PEG 0.30× · 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 63 · sector 37
FUTURE 24 · sector 10
PAST 23 · sector 16
HEALTH 98 · 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 16, 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 Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%

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Frequently asked questions

Is PT Plaza Indonesia Realty Tbk (PLIN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 3,074 IDR versus a price of 2,510 IDR, about +22% (undervalued).
What is the fair value of PLIN?
Our model-based fair value for PT Plaza Indonesia Realty Tbk is 3,074 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 2,510 IDR.
What is the quality score of PLIN?
PT Plaza Indonesia Realty Tbk has a Quality Score of 69/100. 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 Plaza Indonesia Realty Tbk (PLIN)?
PT Plaza Indonesia Realty Tbk reported trailing-twelve-month revenue of about 1.4T IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of PLIN?
The net profit margin of PT Plaza Indonesia Realty Tbk is about 46.2%, meaning it keeps roughly 46.2% 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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