PT Sumber Mas Konstruksi Tbk (SMKM) Fair Value & Analysis

Industrials · ID · Market cap 81.4B IDR

Below-average quality, and screening another 87% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (10.96 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 (46/100) and above fair value, neither a clear bargain nor a standout compounder.
• The models converge in a tight band (10.12 IDR to 10.96 IDR), unusually little disagreement for a valuation.

Price vs Fair Value (4 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

53‑month range 42.56 IDR – 991.76 IDR · fair‑value band 10.12 IDR – 10.96 IDR · the 81.00 IDR price screens above the 10.54 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

PT Sumber Mas Konstruksi Tbk (SMKM) currently trades at 81.00 IDR, while our model-based Fair Value estimate is 10.54 IDR, implying the stock looks roughly 87.0% overvalued today. The Quality Score stands at 46/100 (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: low).

Trailing-twelve-month revenue stands at 69.5B IDR. Revenue declined 17.2% year over year. The balance sheet holds a net cash position of 11.1B IDR. The stock trades on a trailing P/E of 4.2. Fundamentals as of Jul 13, 2026

Our scenario range runs from 10.12 IDR (bear case) to 10.96 IDR (bull case); at 81.00 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 about 75% below its 52-week high and 47% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -87%, SMKM 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.

Widest divergence: Asset-Based (110.51 IDR) versus Earnings-Based (9.40 IDR). Highest evidence: ROIC Compounder (67).

Key figures & financial health

Quality Score breakdown

About the company

PT Sumber Mas Konstruksi Tbk operates as a general contractor and interior designer company in Indonesia. The company engages in the construction of highways and tolls, office buildings, apartments, hospitality buildings, roads, bridges, shophouses, housing areas, hospitals, universities, and public facilities.

Full company description

PT Sumber Mas Konstruksi Tbk operates as a general contractor and interior designer company in Indonesia. The company engages in the construction of highways and tolls, office buildings, apartments, hospitality buildings, roads, bridges, shophouses, housing areas, hospitals, universities, and public facilities. It also provides building structure renovation services; air and seaport construction services; interior design services; development supervision works; and telecommunication construction services, including base transceiver station tower construction and network installation, network optimization drive test, and radio transmission installation services. The company was founded in 1981 and is based in Jakarta Selatan, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Sumber Mas Konstruksi Tbk reported revenue of 69.5B IDR in FY2025 versus 127B IDR in FY2021, a compound −13.9%/yr. Reported net income was −11.0M IDR in FY2025.

SMKM screens 87% overvalued. Compare with Larsen & Toubro Limited →

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.

Valuation Multiples vs Engineering & Construction median · lower = cheaper

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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 13, 2026).

Explore undervalued stocks

More undervalued Industrials stocks →

Frequently asked questions

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.