Pikko Land Development Tbk (RODA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Pikko Land Development Tbk IDR 88, price IDR 61, upside +45.0%, quality 61 out of 100. 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 14.00 IDR – 120.00 IDR · fair‑value band 44.35 IDR – 153.16 IDR · the 61.00 IDR price screens below the 88.45 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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PT Pikko Land Development Tbk develops and sells real estate properties in Indonesia. It also invests in shares of stocks, as well as various property assets, such as land and apartment units. PT Pikko Land Development Tbk was formerly known as PT Royal Oak Development Asia Tbk and changed its name to PT Pikko Land Development Tbk in October 2012.
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PT Pikko Land Development Tbk develops and sells real estate properties in Indonesia. It also invests in shares of stocks, as well as various property assets, such as land and apartment units. PT Pikko Land Development Tbk was formerly known as PT Royal Oak Development Asia Tbk and changed its name to PT Pikko Land Development Tbk in October 2012. The company was founded in 1984 and is headquartered in Jakarta, Indonesia.
Stock analysis
Pikko Land Development Tbk (RODA) currently trades at 61.00 IDR, while our model-based Fair Value estimate is 88.45 IDR, implying the stock looks roughly 31.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 120.80 IDR per share, and 6 of the 7 models we run sit above the 61.00 IDR price.
Bear case: the Multiples group reads lowest at 51.49 IDR, and 1 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: 44.35 IDR (bear) to 153.16 IDR (bull), the price of 61.00 IDR sits inside 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 61/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Pikko Land Development Tbk reported revenue of 156B IDR in FY2025 versus 509B IDR in FY2021, a compound −25.6%/yr. Reported net income was −70.9B IDR in FY2025.
Key figures
Market cap 829B IDR (≈ $46.3M) · P/S ratio 5.51 · EPS (TTM) −5.10 IDR · Net margin −45.5% · Return on equity −3.4% · Return on assets (EBIT) 0.8% · Operating margin −5.2% · Revenue (TTM) 155B IDR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 53% 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 45%, RODA screens richer than that median.
Fair Value models
Bear 44.35 IDRFair Value 88.45 IDRBull 153.16 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.
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.21/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+84.2%
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.
−5.5%
Revenue growth 24 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.
+21.6%
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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.
−96.2% (2020) → −16.5% (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
Price in line with expectations
The price assumes about as much growth as 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).
+7.0%
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 +4.3% a year for the price.
Compare Pikko Land Development Tbk with another stock
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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 · 577 stocks
Beats the industry median on 5/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+47% · Above median
Profitability
Return on assets0% · Below median
Net margin (TTM)−45% · Bottom 25%
Operating margin (TTM)−5% · Below median
Growth and dividend
Revenue growth5% · Above median
Balance sheet
Debt / equity0.18× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Pikko Land Development Tbk Fair Value". https://www.fairvalue-calculator.com/stock/RODA
Frequently asked questions
Is Pikko Land Development Tbk (RODA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 88.45 IDR versus a price of 61.00 IDR, about +45% upside (undervalued).
What is the fair value of RODA?
Our model-based fair value for Pikko Land Development Tbk is 88.45 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 61.00 IDR.
What is the quality score of RODA?
Pikko Land Development Tbk has a Quality Score of 61/100. 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 Pikko Land Development Tbk (RODA)?
Our model-based price target is the fair value of 88.45 IDR (as of Sep 24, 2026) from 7 valuation models. Cautious scenario 44.35 IDR, optimistic scenario 153.16 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Pikko Land Development Tbk stock forecast for 2026?
Our models put fair value at 88.45 IDR, about +45% upside versus a price of 61.00 IDR (undervalued). Cautious scenario 44.35 IDR, optimistic scenario 153.16 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Pikko Land Development Tbk (RODA)?
Pikko Land Development Tbk reported trailing-twelve-month revenue of about 155B IDR (latest available figure, as of Sep 24, 2026).
What growth is priced into Pikko Land Development Tbk (RODA)?
For today's price to be fair in a discounted-cash-flow model, Pikko Land Development Tbk would have to grow free cash flow by +7.0 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of RODA use?
Our models discount Pikko Land Development Tbk at 10.6 %: a base by market capitalisation (nano), damped by beta 0.53, 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 Pikko Land Development Tbk that is +7.0 % per year a year over ten years, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Pikko Land Development Tbk (RODA) delivered so far?
Over the past 5 years revenue at Pikko Land Development Tbk grew +6.4 % a year. The price currently implies +7.0 % 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 Pikko Land Development Tbk (RODA) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Pikko Land Development Tbk (+7.0 % 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 Pikko Land Development Tbk (RODA)?
The free-cash-flow yield on the price is 9.28 %: that much free cash flow Pikko Land Development Tbk produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Pikko Land Development Tbk (RODA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pikko Land Development Tbk it is 88.45 IDR per share (as of Sep 24, 2026), against a price of 61.00 IDR. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Pikko Land Development Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, RODA trades below its calculated fair value: price 61.00 IDR, fair value 88.45 IDR, a gap of about +45% (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 RODA?
No. The price is what the market pays today (61.00 IDR); the fair value is what the company's own numbers justify (88.45 IDR). For Pikko Land Development Tbk the two are 27.45 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Pikko Land Development Tbk worth?
The market values Pikko Land Development Tbk at about 829B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 61.00 IDR; our models calculate a fair value of 88.45 IDR per share.
What do the bullish and bearish scenarios say about RODA?
Our models span a range for Pikko Land Development Tbk: cautious scenario 44.35 IDR, base 88.45 IDR, optimistic 153.16 IDR per share (as of Sep 24, 2026, price 61.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Pikko Land Development Tbk (RODA)?
Balance-sheet figures for Pikko Land Development Tbk (as of Sep 24, 2026): return on equity −3.4%, debt of 0.18 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is RODA from its 52-week high?
Pikko Land Development Tbk trades at 61.00 IDR, about 35% below its 52-week high of 94.00 IDR and 53% above the low of 40.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 88.45 IDR is for.
Which stocks are comparable to Pikko Land Development Tbk?
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 Pikko Land Development Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 61.00 IDR, calculated fair value 88.45 IDR (+45%), Quality Score 61/100, from 7 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 RODA calculated?
We run Pikko Land Development Tbk through 7 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 88.45 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 13.2 % above its aggregate fair value. Pikko Land Development Tbk currently trades 45 % 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 Pikko Land Development Tbk (RODA)?
The closing price on Sep 24, 2026 was 61.00 IDR. Our model-based fair value is 88.45 IDR, about +45% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pikko Land Development Tbk right now?
The model range is unusually wide (44.35 IDR to 153.16 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 quality (61/100) 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.
Key figures of Pikko Land Development Tbk
How large is the market capitalisation of Pikko Land Development Tbk (RODA)?
The market capitalisation of Pikko Land Development Tbk is 829B IDR (≈ $46.3M). 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 Pikko Land Development Tbk (RODA)?
The price-to-sales ratio of Pikko Land Development Tbk is 5.51 (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 Pikko Land Development Tbk (RODA)?
Earnings per share at Pikko Land Development Tbk are −5.10 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Pikko Land Development Tbk (RODA)?
The net margin of Pikko Land Development Tbk is −45.5% (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 Pikko Land Development Tbk (RODA)?
The return on equity (ROE) of Pikko Land Development Tbk is −3.4% (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 Pikko Land Development Tbk (RODA)?
On an EBIT basis the return on assets of Pikko Land Development Tbk is 0.8% (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 Pikko Land Development Tbk (RODA)?
The operating margin of Pikko Land Development Tbk is −5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pikko Land Development Tbk (RODA)?
Revenue at Pikko Land Development Tbk is growing +5.3% versus a year earlier (3y avg −5.5%). 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 Pikko Land Development Tbk (RODA)?
Earnings per share at Pikko Land Development Tbk are growing −92.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Pikko Land Development Tbk (RODA) carry?
The net debt of Pikko Land Development Tbk is 372B IDR (fiscal year 2025, ≈ 4.8 yrs of FCF). 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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