PT Ciputra Development Tbk

IDX:CTRA Stock Report

Market Cap: Rp13.6t

Ciputra Development Valuation

Is CTRA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CTRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
Rp930.78
Fair Value
21.0% undervalued intrinsic discount
15
Number of Analysts

Below Fair Value: CTRA (IDR735) is trading below our estimate of fair value (IDR930.78)

Significantly Below Fair Value: CTRA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CTRA?

Key metric: As CTRA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CTRA. This is calculated by dividing CTRA's market cap by their current earnings.
What is CTRA's PE Ratio?
PE Ratio7x
EarningsRp1.94t
Market CapRp13.62t

Price to Earnings Ratio vs Peers

How does CTRA's PE Ratio compare to its peers?

The above table shows the PE ratio for CTRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.9x
SMDM Suryamas Dutamakmur
58.2xn/aRp7.2t
BSDE Bumi Serpong Damai
5.6x4.6%Rp16.2t
JRPT Jaya Real Property
8.5xn/aRp9.6t
MKPI Metropolitan Kentjana
27.2xn/aRp24.3t
CTRA Ciputra Development
7x10.5%Rp13.6t

Price-To-Earnings vs Peers: CTRA is good value based on its Price-To-Earnings Ratio (7x) compared to the peer average (24.9x).

Price to Earnings Ratio vs Industry

How does CTRA's PE Ratio compare vs other companies in the ID Real Estate Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
LPKR Lippo Karawaci
0.3x-98.7%US$341.56m
UANG Pakuan
1.5xn/aUS$24.80m
EMDE Megapolitan Developments
1.5xn/aUS$21.87m
No more companies available in this PE range
CTRA 7.0xIndustry Avg. 10.0xNo. of Companies15PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CTRA is good value based on its Price-To-Earnings Ratio (7x) compared to the ID Real Estate industry average (10x).

Price to Earnings Ratio vs Fair Ratio

What is CTRA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CTRA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7x
Fair PE Ratio6.9x

Price-To-Earnings vs Fair Ratio: CTRA is expensive based on its Price-To-Earnings Ratio (7x) compared to the estimated Fair Price-To-Earnings Ratio (6.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CTRA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp735.00
Rp1,430.53
+94.6%
15.7%Rp1,700.00Rp950.00n/a15
Mar ’26Rp795.00
Rp1,442.87
+81.5%
14.8%Rp1,700.00Rp950.00n/a15
Feb ’26Rp985.00
Rp1,488.43
+51.1%
14.4%Rp1,700.00Rp950.00n/a14
Jan ’26Rp980.00
Rp1,549.08
+58.1%
8.9%Rp1,700.00Rp1,165.00n/a13
Dec ’25Rp1,070.00
Rp1,561.38
+45.9%
8.6%Rp1,700.00Rp1,165.00n/a13
Nov ’25Rp1,280.00
Rp1,546.00
+20.8%
10.4%Rp1,730.00Rp1,165.00n/a13
Oct ’25Rp1,350.00
Rp1,504.00
+11.4%
11.4%Rp1,730.00Rp1,165.00n/a13
Sep ’25Rp1,300.00
Rp1,504.00
+15.7%
11.4%Rp1,730.00Rp1,165.00n/a13
Aug ’25Rp1,260.00
Rp1,443.23
+14.5%
11.3%Rp1,700.00Rp1,165.00n/a13
Jul ’25Rp1,130.00
Rp1,417.47
+25.4%
11.2%Rp1,700.00Rp1,150.00n/a15
Jun ’25Rp1,100.00
Rp1,410.13
+28.2%
11.1%Rp1,700.00Rp1,150.00n/a16
May ’25Rp1,205.00
Rp1,403.80
+16.5%
11.4%Rp1,700.00Rp1,150.00n/a15
Apr ’25Rp1,295.00
Rp1,426.13
+10.1%
10.6%Rp1,700.00Rp1,150.00n/a15
Mar ’25Rp1,320.00
Rp1,403.93
+6.4%
9.8%Rp1,600.00Rp1,150.00Rp795.0014
Feb ’25Rp1,205.00
Rp1,403.93
+16.5%
9.8%Rp1,600.00Rp1,150.00Rp985.0014
Jan ’25Rp1,170.00
Rp1,403.21
+19.9%
8.3%Rp1,600.00Rp1,150.00Rp980.0014
Dec ’24Rp1,150.00
Rp1,394.64
+21.3%
10.7%Rp1,600.00Rp970.00Rp1,070.0014
Nov ’24Rp1,080.00
Rp1,348.21
+24.8%
11.1%Rp1,600.00Rp970.00Rp1,280.0014
Oct ’24Rp1,020.00
Rp1,342.50
+31.6%
11.1%Rp1,600.00Rp970.00Rp1,350.0014
Sep ’24Rp1,130.00
Rp1,356.54
+20.0%
12.0%Rp1,650.00Rp970.00Rp1,300.0013
Aug ’24Rp1,080.00
Rp1,344.77
+24.5%
12.1%Rp1,650.00Rp970.00Rp1,260.0013
Jul ’24Rp1,060.00
Rp1,321.69
+24.7%
12.1%Rp1,650.00Rp970.00Rp1,130.0013
Jun ’24Rp1,070.00
Rp1,311.13
+22.5%
11.5%Rp1,650.00Rp970.00Rp1,100.0015
May ’24Rp995.00
Rp1,291.06
+29.8%
12.7%Rp1,650.00Rp970.00Rp1,205.0016
Apr ’24Rp995.00
Rp1,287.00
+29.3%
12.8%Rp1,650.00Rp970.00Rp1,295.0016
Mar ’24Rp980.00
Rp1,293.65
+32.0%
12.5%Rp1,650.00Rp970.00Rp1,320.0017
Analyst Price Target
Consensus Narrative from 15 Analysts
Rp1.43k
Fair Value
48.6% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/22 19:34
End of Day Share Price 2025/03/21 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PT Ciputra Development Tbk is covered by 40 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Igor NyomanBNP Paribas Securities (Asia)
Baruna ArkasatyoCGS International
Citi ResearchCitigroup Inc