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PT Summarecon Agung Tbk constructs and (SMRA) Fair Value & Analysis

Real Estate · ID · Market cap 4.8T IDR

PS PT Summarecon Agung Tbk constructs and SMRA · JK
Price332.00 IDR
Fair Value725.00 IDR
Upside+118.4%
Quality36/100
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Expensive Growth
Thin margins · 8.1% net margin
Low debt · negative free cash flow
Ranks above peers (11/14)
Moderate moat 54/100
Evidence: Medium Range 390.99 IDR – 1,059 IDR Share as image

Fair value as of: Jul 16, 2026

From 9 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 710.00 IDR to 725.00 IDR (+2.1%) since Jun 26, 2026. Share price +17.7% over the past month.

Below-average quality, screening 118% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (390.99 IDR). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (390.99 IDR to 1,059 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • 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)

934.03 IDR 253.64 IDR Fair Value 725.00 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 253.64 IDR – 934.03 IDR · fair‑value band 390.99 IDR – 1,059 IDR · the 332.00 IDR price screens below the 725.00 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.

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Analysis

PT Summarecon Agung Tbk constructs and (SMRA) currently trades at 332.00 IDR, while our model-based Fair Value estimate is 725.00 IDR, implying the stock looks roughly 118.4% undervalued today. The Quality Score stands at 36/100 (below-average 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: medium), always confirm before acting.

Over the trailing twelve months, PT Summarecon Agung Tbk constructs and generated revenue of 8.9T IDR at a net margin of 8.1%. Revenue grew 6.1% year over year. It earns a return on equity of 7.9%. Net debt stands at 10.0T IDR. Fundamentals as of Jul 16, 2026

Our scenario range runs from 390.99 IDR (bear case) to 1,059 IDR (bull case); at 332.00 IDR, the current price sits below 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 32% below its 52-week high and 31% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 118%, SMRA 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 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 573.35 IDR 601.01 IDR 641.57 IDR 76
Gordon GGM 86.44 IDR 188.70 IDR 317.50 IDR 70
DDM Multi-Stage 86.44 IDR 154.58 IDR 196.66 IDR 61
All 9 models by family
Dividend Discount
Gordon GGM 86.44 IDR 188.70 IDR 317.50 IDR 70
DDM Multi-Stage 86.44 IDR 154.58 IDR 196.66 IDR 61
Multiples
P/S Multiple 592.03 IDR 789.37 IDR 986.71 IDR 58
P/B Multiple 592.03 IDR 789.37 IDR 986.71 IDR 55
EV/EBIT 2,121 IDR 2,852 IDR 3,583 IDR 53
EV/EBITDA 1,902 IDR 2,560 IDR 3,218 IDR 54
EV/Revenue 1,138 IDR 1,656 IDR 2,174 IDR 43
Asset-Based
NCAV (Graham) 352.98 IDR 473.00 IDR 705.97 IDR 50
Economic Profit
Residual Income 573.35 IDR 601.01 IDR 641.57 IDR 76

Widest divergence: Multiples (1,656 IDR) versus Dividend Discount (154.58 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 8.9T IDR
Revenue growth (YoY) +6.1%
Net margin 8.1%
Return on equity 7.9%
Free cash flow −2.3T IDR FY2025
P/E ratio 6.0
More key figures
Operating margin 30.3%
EPS (TTM) 43.50 IDR
EPS growth (YoY) -20.3%
Net debt 10.0T IDR FY2025

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

Quality Score breakdown

Overall quality 36/100

Of which business quality 35 · Market factors (momentum, volatility) 41

Profitability 27
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 24
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 Summarecon Agung Tbk constructs and develops real estate properties in Indonesia. The company operates through Property Development, Investment Property, Leisure and Hospitality, and property management segments.

Full company description

PT Summarecon Agung Tbk constructs and develops real estate properties in Indonesia. The company operates through Property Development, Investment Property, Leisure and Hospitality, and property management segments. It develops and sells residential house, apartment, residential land plot and commercial shoplot; commercial development including education facilities, sports and recreation, places of worship and healthcare facilities. The company develops townships; rents shophouses and office buildings; owns leisure and hospitality facilities, such as sports clubs and hotels; and provides health and estate management services. In addition, it manages residential apartments, offices, and other building facilities; and develops infrastructure facilities. Further, the company operates gas station and hospitals; retails food and beverages; and provides information system and education, and trading services, as well as investment business. PT Summarecon Agung Tbk was incorporated in 1975 and is based in Jakarta Timur, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Summarecon Agung Tbk constructs and reported revenue of 8.8T IDR in FY2025 versus 5.6T IDR in FY2021, a compound +12.0%/yr. Reported net income was 767B IDR in FY2025, compounding +24.0%/yr from FY2021.

Growth Quality 41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
8.8T IDR
Latest YoY
−17.5%
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.
+15.3%
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.
+11.8%
Avg. growth/yr (25Y) 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.
+15.2%
Revenue +12.0%/yr
FY21 5.6T IDR
FY22 5.7T IDR
FY23 6.7T IDR
FY24 10.6T IDR
FY25 8.8T IDR
Net income +24.0%/yr
FY21 324B IDR
FY22 625B IDR
FY23 766B IDR
FY24 1.4T IDR
FY25 767B IDR
Character of growth · EPS growth decomposed (2014-2025) +0.2 % p.a.
Revenue per share +4.1 pp

of which total revenue +5.3 pp · buybacks/dilution −1.2 pp

EBIT margin −0.3 pp
Tax rate +3.1 pp
Residual (interest, one-offs) −6.7 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "PT Summarecon Agung Tbk constructs and Fair Value". https://www.fairvalue-calculator.com/stock/SMRA

Peer Group

Real Estate - Development · 588 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 37 · Bottom 25%
Fair Value upside +118% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 30% · Top 25%
Revenue growth 6% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.39× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 6.7× · Cheaper than 75% of peers
P/B 0.41× · Cheaper than median
P/S (TTM) 0.54× · Cheaper than median
EV/EBITDA 2.0× · Cheaper than 75% of peers
PEG 0.36× · Cheaper than median

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 100 · sector 48
FUTURE 31 · sector 0
PAST 32 · sector 10
HEALTH 80 · sector 84
DIVIDEND 0 · sector 38

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is PT Summarecon Agung Tbk constructs and (SMRA) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 725.00 IDR versus a price of 332.00 IDR, about +118% (undervalued).
What is the fair value of SMRA?
Our model-based fair value for PT Summarecon Agung Tbk constructs and is 725.00 IDR (as of Jul 16, 2026), built from audited fundamentals. The current price is 332.00 IDR.
What is the quality score of SMRA?
PT Summarecon Agung Tbk constructs and has a Quality Score of 36/100. 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 Summarecon Agung Tbk constructs and (SMRA)?
PT Summarecon Agung Tbk constructs and reported trailing-twelve-month revenue of about 8.9T IDR (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SMRA?
The net profit margin of PT Summarecon Agung Tbk constructs and is about 8.1%, meaning it keeps roughly 8.1% 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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