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Elang Mahkota Teknologi Tbk (EMTK) Fair Value & Analysis

Communication Services · ID · Market cap 30.9T IDR (≈ $3.1B) · ISIN ID1000113905

What is Elang Mahkota Teknologi Tbk really worth?

EM Elang Mahkota Teknologi Tbk EMTK · JK
Price515.00 IDR
Fair Value1,094 IDR
Upside+112.4%
Quality64/100

A solid business, trading 53% below our fair value of 1,094 IDR.

Watch Elang Mahkota Teknologi Tbk for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free

Strengths

✓Solidly profitable · 13.4% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (12/14)

Risks

!Expensive Growth (revenue 5y +9.9 %/yr)
!Moderate moat 46/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range 754.58 IDR – 1,367 IDR

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price −2.8% over the past month.

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 →

What matters now

  • The price is below even our cautious bear case (754.58 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.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (754.58 IDR to 1,367 IDR) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

2,741 IDR 322.91 IDR Fair Value 1,094 IDR Mar 2021 Sep 2026

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

How to read this chart

60‑month range 322.91 IDR – 2,741 IDR · fair‑value band 754.58 IDR – 1,367 IDR · the 515.00 IDR price screens below the 1,094 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Elang Mahkota Teknologi Tbk (EMTK) currently trades at 515.00 IDR, while our model-based Fair Value estimate is 1,094 IDR, implying the stock looks roughly 52.9% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Communication Services sector. Bull case: the Growth Earnings group reads highest at a median of 2,459 IDR per share, and 23 of the 26 models we run sit above the 515.00 IDR price. Bear case: the Asset-Based group reads lowest at 414.35 IDR, and 3 of the 26 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Elang Mahkota Teknologi Tbk generated revenue of 21.0T IDR at a net margin of 13.4%. Revenue grew 47.6% year over year. It earns a return on equity of 9.0%. The balance sheet holds a net cash position of 20.3T IDR. Fundamentals as of Aug 13, 2026

Our scenario range runs from 754.58 IDR (bear case) to 1,367 IDR (bull case); at 515.00 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 69% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −8% fair-value upside, at 112%, EMTK screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 31.24 IDR per share, which is 2.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF 658.84 IDR 946.09 IDR 1,566 IDR 79
Growth DCF 653.23 IDR 926.01 IDR 1,445 IDR 78
5Y EBITDA Exit 645.39 IDR 897.81 IDR 1,227 IDR 76
All 26 models by family
DCF Models
FCF DCF 658.84 IDR 946.09 IDR 1,566 IDR 79
Owner Earnings 2,020 IDR 3,727 IDR 7,064 IDR 73
5Y Revenue Exit 558.02 IDR 707.77 IDR 914.72 IDR 74
5Y EBITDA Exit 645.39 IDR 897.81 IDR 1,227 IDR 76
5Y P/E Exit 1,674 IDR 3,135 IDR 4,914 IDR 69
10Y Revenue Exit 581.73 IDR 741.83 IDR 998.09 IDR 68
10Y EBITDA Exit 648.22 IDR 888.79 IDR 1,280 IDR 68
10Y P/E Exit 1,361 IDR 2,619 IDR 4,609 IDR 61
Earnings-Based
Graham-Dodd 754.58 IDR 4,158 IDR 5,770 IDR 63
Lynch FV 1,158 IDR 1,655 IDR 2,151 IDR 61
PEG = 1.0 1,158 IDR 1,655 IDR 2,151 IDR 57
EPV 444.73 IDR 459.66 IDR 472.93 IDR 74
Dividend Discount
Gordon GGM 453.89 IDR 990.92 IDR 1,667 IDR 65
DDM Multi-Stage 453.89 IDR 811.72 IDR 1,033 IDR 66
Multiples
P/E Multiple 1,831 IDR 2,441 IDR 3,052 IDR 63
P/S Multiple 820.32 IDR 1,094 IDR 1,367 IDR 58
P/B Multiple 1,415 IDR 1,886 IDR 2,358 IDR 55
EV/EBIT 563.17 IDR 630.85 IDR 698.54 IDR 66
EV/EBITDA 655.56 IDR 754.04 IDR 852.52 IDR 67
EV/Revenue 514.10 IDR 580.09 IDR 646.08 IDR 54
Asset-Based
NCAV (Graham) 309.22 IDR 414.35 IDR 618.43 IDR 54
Growth DCF
Growth DCF 653.23 IDR 926.01 IDR 1,445 IDR 78
Rev-Margin DCF 558.02 IDR 703.94 IDR 903.57 IDR 74
Economic Profit
Residual Income 752.13 IDR 968.39 IDR 3,190 IDR 64
ROIC Compounder 444.73 IDR 459.66 IDR 472.93 IDR 72
Growth Earnings
Growth-Adj P/E 1,721 IDR 2,459 IDR 3,197 IDR 67

Widest divergence: Growth Earnings (2,459 IDR) versus Asset-Based (414.35 IDR). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 11.2
P/S ratio 3.96 P/E × margin
EPS (TTM) 46.16 IDR price ÷ EPS = P/E 11.2
Dividend yield 8.8% payout 98.4%
Net margin 35.5% FY2025
Return on equity 9.0% TTM
More key figures
Profitability
Return on assets (EBIT) 1.5% avg 5y
Operating margin 8.3% TTM
Growth
Revenue (TTM) 21.0T IDR TTM
Revenue growth (YoY) +47.6% 3y avg +7.2%
EPS growth (YoY) −65.7%
Balance sheet & cash flow
Free cash flow 1.2T IDR FY2025
Net cash 20.3T IDR FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 23

Profitability 53
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 81
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT Elang Mahkota Teknologi Tbk, through its subsidiaries, engages in the media, healthcare, aviation support services, digital products and services, and other businesses in Indonesia.

Full company description

PT Elang Mahkota Teknologi Tbk, through its subsidiaries, engages in the media, healthcare, aviation support services, digital products and services, and other businesses in Indonesia. The company's Media segment is involved in the free-to-air television broadcasting business through six television channels, as well as content, film and video production and distribution, and digital businesses. This segment also engages in the subscription broadcasting of satellite television under PT Mediatama Televisi. The company's Healthcare segment offers a range of medical services. Its aviation support services segment provides representing ground and cargo handling, aircraft release and maintenance, catering and aviation training services. The Digital Products and Services offer activities sales of physical and virtual products in platform, and services of providing platform, such as investment and gaming platforms. The Others segment provides connectivity services, such as internet service provision, solution, investment and other businesses. The company is also involved in trading of medical equipment, television broadcasting, online media, healthcare, management consulting, trading and telecommunication, tower lease services, information technology, film and content trading, content management and production, production house and multimedia industry, ad based video-on-demand and subscription video-on demand, management and lease of broadcasting and film studios and multimedia, web portals, and digital advertising services. In addition, it is engaged in production house, subscription broadcasting of satellite television, contents, entertainment and multimedia management and production, digital platform, artist management, film production, outdoor media advertising, digital content, agriculture, as well as real estate, facility and airport management, and restaurant services. PT Elang Mahkota Teknologi Tbk was founded in 1983 and is based in Jakarta, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Elang Mahkota Teknologi Tbk reported revenue of 19.1T IDR in FY2025 versus 12.8T IDR in FY2021, a compound +10.5%/yr. Reported net income was 6.8T IDR in FY2025, compounding +4.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
19.1T IDR
Latest YoY
+56.3%
Avg. revenue 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.
+7.2%
Avg. revenue 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.
+9.9%
Avg. revenue growth/yr (17Y) ⓘ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.
+11.2%
Value creation/yr (5Y, in IDR) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+11.6% (2.8 + 8.8)
Revenue +10.5%/yr
FY21 12.8T IDR
FY22 15.5T IDR
FY23 9.2T IDR
FY24 12.2T IDR
FY25 19.1T IDR
Net income +4.7%/yr
FY21 5.7T IDR
FY22 5.4T IDR
FY23 −141B IDR
FY24 1.5T IDR
FY25 6.8T IDR
Character of growth · EPS growth decomposed (2014-2025) +15.9 % p.a.
Revenue per share +8.3 %

of which total revenue +9.2 % · buybacks/dilution −0.8 %

EBIT margin −13.0 %
Tax rate +2.6 %
Residual (interest, one-offs) +19.8 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Elang Mahkota Teknologi Tbk · Fair Value
1,094 IDR +53%Fair Value
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Cite: Fair Value Calculator (2026). "Elang Mahkota Teknologi Tbk Fair Value". https://www.fairvalue-calculator.com/stock/EMTK

Peer Group

Broadcasting · 64 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 64 · Top 25%
Fair Value upside +112% · Top 25%
Return on equity (TTM) 9% · Top 25%
Return on assets 1% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 8% · Above median
Revenue growth 48% · Top 25%
Dividend yield (TTM) 8.8% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Broadcasting median · lower = cheaper

P/E (TTM) 11.2× · Cheaper than 75% of peers
P/B 0.82× · Pricier than median
P/S (TTM) 1.47× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 4.6× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 52
FUTURE100 · sector 0
PAST36 · sector 2
HEALTH100 · sector 96
DIVIDEND100 · sector 84

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 Broadcasting stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Nexstar Media Group NXST $177.84 $151.97 −15%
MFE-Mediaforeurope N.V MFEB €3.62 €5.38 +49%
Jiangsu Broadcasting Cable Information Network Corporation 600959 ¥3.10 ¥1.14 −63%
Sun TV Network Limited SUNTV ₹487.90 ₹586.58 +20%
MBC Group 4072 20.41 SAR 19.24 SAR −6%
Métropole Télévision S.A MMT €12.04 €15.96 +33%
Beijing Gehua Catv Network Co 600037 ¥7.07 ¥3.63 −49%
PT Surya Citra Media Tbk, SCMA 216.00 IDR 198.19 IDR −8%
Zee Entertainment Enterprises Limited ZEEL ₹104.65 ₹48.34 −54%
Sinclair, Inc SBGI $15.42 $4.29 −72%

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Frequently asked questions

Is Elang Mahkota Teknologi Tbk (EMTK) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1,094 IDR versus a price of 515.00 IDR, about +112% upside (undervalued).
What is the fair value of EMTK?
Our model-based fair value for Elang Mahkota Teknologi Tbk is 1,094 IDR (as of Aug 13, 2026), built from audited fundamentals. The current price: 515.00 IDR.
What is the quality score of EMTK?
Elang Mahkota Teknologi Tbk has a Quality Score of 64/100. 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 Elang Mahkota Teknologi Tbk (EMTK)?
Elang Mahkota Teknologi Tbk reported trailing-twelve-month revenue of about 21.0T IDR (latest available figure, as of Aug 13, 2026).
What is the net profit margin of EMTK?
The net profit margin of Elang Mahkota Teknologi Tbk is about 13.4%, meaning it keeps roughly 13.4% of revenue as net income. Based on the latest reported figures.
Does Elang Mahkota Teknologi Tbk pay a dividend?
Elang Mahkota Teknologi Tbk currently shows a dividend yield of about 8.82% relative to its recent price (as of Aug 13, 2026).
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