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PP Properti Tbk PT (PPRO) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of PP Properti Tbk PT IDR 40, price IDR 16, upside +150.0%, quality 34 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Real Estate · ID · ISIN ID1000133903

PP Thin data Sep 24, 2026

PP Properti Tbk PT

PPRO · JK

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 40.00 IDR · Strongly undervalued (+150%)
!Quality 34/100
!Weak Growth (revenue 5y −31.1 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (3/7)
!Narrow moat 5/100
!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

93.00 IDR 7.00 IDR Fair Value 40.00 IDR Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 7.00 IDR – 93.00 IDR · fair‑value band 26.40 IDR – 50.00 IDR · the 16.00 IDR price screens below the 40.00 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

PT Pembangunan Perumahan Properti Tbk, together with its subsidiaries, engages in real estate business in Indonesia. It operates through Realty and Property segments.

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PT Pembangunan Perumahan Properti Tbk, together with its subsidiaries, engages in real estate business in Indonesia. It operates through Realty and Property segments. The company is involved in the sale of land and/or building and apartment units under strata-title; development and management of hotel guestrooms, retail center, mall and edutainment, and restaurants. The company was founded in 2013 and is headquartered in Jakarta, Indonesia. PT Pembangunan Perumahan Properti Tbk operates as a subsidiary of PT Pembangunan Perumahan (Persero) Tbk.

Stock analysis

PP Properti Tbk PT (PPRO) currently trades at 16.00 IDR, while our model-based Fair Value estimate is 40.00 IDR, implying the stock looks roughly 60.0% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 87/100, which puts the evidence level at low.

Scenario range: 26.40 IDR (bear) to 50.00 IDR (bull), the price of 16.00 IDR sits below 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 34/100 (below-average quality), in the Real Estate sector.

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

PP Properti Tbk PT reported revenue of 323B IDR in FY2025 versus 862B IDR in FY2021, a compound −21.8%/yr. Reported net income was −4.8T IDR in FY2025.

Key figures

Market cap 1.0T IDR (≈ $105M) · P/S ratio 3.11 · EPS (TTM) −85.74 IDR · Return on equity −56.3% · Return on assets (EBIT) −11.7% · Operating margin −15.9% · Revenue (TTM) 337B IDR · Revenue growth (YoY) +22.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).

What moves the price

The share trades about 60% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 150%, PPRO screens cheaper than that median.

Fair Value models

Bear 26.40 IDR Fair Value 40.00 IDR Bull 50.00 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. 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
NCAV (Graham) 45.18 IDR 60.53 IDR 90.35 IDR 54
All 1 models by family
Asset-Based
NCAV (Graham) 45.18 IDR 60.53 IDR 90.35 IDR 54

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Quality Score breakdown

Overall quality 34/100

Of which business quality 37 · Market factors (momentum, volatility) 24

Profitability 0
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 82
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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−29.5%
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.
−42.6%
Revenue growth 5 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.
−31.1%
Start year 2020 (pandemic). Over 10 years: −14.3% a year
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.
+2.1%
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.
10.2% (2020) → −1,887.3% (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

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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.Real Estate - Development · 578 stocks

Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside +150% · Top 25%
Profitability
Return on assets −20% · Bottom 25%
Operating margin (TTM) −16% · Bottom 25%
Growth and dividend
Revenue growth 22% · Above median
Balance sheet
Debt / equity 0.18× · Below median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 47
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 11
HEALTH (low debt)91 · sector 83
DIVIDEND (yield)0 · sector 56

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

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 0016 HK$109.10 HK$147.78 +35%
China Resources Land Limited 1109 HK$29.62 HK$74.05 +150%
Vinhomes Joint Stock Company VHM 68,200 VND 112,796 VND +65%
CK Asset Holdings 1113 HK$46.44 HK$71.69 +54%
Hongkong Land Holdings H78 $8.74 $1.52 −83%
DLF Limited DLF ₹675.00 ₹167.21 −75%
China Overseas Land & Investment Limited 0688 HK$12.43 HK$22.35 +80%
Lodha Developers Limited LODHA ₹1,163 ₹275.95 −76%
PT Pantai Indah Kapuk Dua Tbk, PANI 5,075 IDR 1,325 IDR −74%
Poly Developments and Holdings 600048 ¥5.64 ¥14.10 +150%

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PP Properti Tbk PT · Fair Value
40.00 IDR +60%Fair Value
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Cite: Fair Value Calculator (2026). "PP Properti Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/PPRO

Frequently asked questions

Is PP Properti Tbk PT (PPRO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 40.00 IDR versus a price of 16.00 IDR, about +150% upside (undervalued).
What is the fair value of PPRO?
Our model-based fair value for PP Properti Tbk PT is 40.00 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 16.00 IDR.
What is the quality score of PPRO?
PP Properti Tbk PT has a Quality Score of 34/100. 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 PP Properti Tbk PT (PPRO)?
Our model-based price target is the fair value of 40.00 IDR (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 26.40 IDR, optimistic scenario 50.00 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the PP Properti Tbk PT stock forecast for 2026?
Our models put fair value at 40.00 IDR, about +150% upside versus a price of 16.00 IDR (undervalued). Cautious scenario 26.40 IDR, optimistic scenario 50.00 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of PP Properti Tbk PT (PPRO)?
PP Properti Tbk PT reported trailing-twelve-month revenue of about 337B IDR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of PP Properti Tbk PT (PPRO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PP Properti Tbk PT it is 40.00 IDR per share (as of Sep 24, 2026), against a price of 16.00 IDR. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is PP Properti Tbk PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PPRO trades below its calculated fair value: price 16.00 IDR, fair value 40.00 IDR, a gap of about +150% (undervalued). 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 PPRO?
No. The price is what the market pays today (16.00 IDR); the fair value is what the company's own numbers justify (40.00 IDR). For PP Properti Tbk PT the two are 24.00 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is PP Properti Tbk PT worth?
The market values PP Properti Tbk PT at about 1.0T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 16.00 IDR; our models calculate a fair value of 40.00 IDR per share.
What do the bullish and bearish scenarios say about PPRO?
Our models span a range for PP Properti Tbk PT: cautious scenario 26.40 IDR, base 40.00 IDR, optimistic 50.00 IDR per share (as of Sep 24, 2026, price 16.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PP Properti Tbk PT (PPRO)?
Balance-sheet figures for PP Properti Tbk PT (as of Sep 24, 2026): return on equity −56.3%, debt of 0.18 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is PPRO from its 52-week high?
PP Properti Tbk PT trades at 16.00 IDR, about 60% below its 52-week high of 40.00 IDR and 23% above the low of 13.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 40.00 IDR is for.
Which stocks are comparable to PP Properti Tbk PT?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, 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 PP Properti Tbk PT stock attractive at the current price?
The data as of Sep 24, 2026: price 16.00 IDR, calculated fair value 40.00 IDR (+150%), Quality Score 34/100, from 1 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 PPRO calculated?
We run PP Properti Tbk PT through 1 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 40.00 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 14.1 % above its aggregate fair value. PP Properti Tbk PT currently trades 150 % below its own fair value, and the market average says nothing about that. 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 PP Properti Tbk PT (PPRO)?
The closing price on Sep 23, 2026 was 16.00 IDR. Our model-based fair value is 40.00 IDR, about +150% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PP Properti Tbk PT right now?
The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (26.40 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (26.40 IDR to 50.00 IDR) leaves room in how you read the outcome.

Key figures of PP Properti Tbk PT

How large is the market capitalisation of PP Properti Tbk PT (PPRO)?
The market capitalisation of PP Properti Tbk PT is 1.0T IDR (≈ $105M). 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 PP Properti Tbk PT (PPRO)?
The price-to-sales ratio of PP Properti Tbk PT is 3.11 (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 PP Properti Tbk PT (PPRO)?
Earnings per share at PP Properti Tbk PT are −85.74 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of PP Properti Tbk PT (PPRO)?
The return on equity (ROE) of PP Properti Tbk PT is −56.3% (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 PP Properti Tbk PT (PPRO)?
On an EBIT basis the return on assets of PP Properti Tbk PT is −11.7% (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 PP Properti Tbk PT (PPRO)?
The operating margin of PP Properti Tbk PT is −15.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PP Properti Tbk PT (PPRO)?
Revenue at PP Properti Tbk PT is growing +22.0% versus a year earlier (3y avg −42.6%). 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 PP Properti Tbk PT (PPRO)?
Earnings per share at PP Properti Tbk PT are growing +51.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PP Properti Tbk PT (PPRO) generate?
The free cash flow of PP Properti Tbk PT is −3.2B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does PP Properti Tbk PT (PPRO) carry?
The net debt of PP Properti Tbk PT is 929B IDR (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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