Fortune Mate Indonesia Valuation

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

FMII (IDR545) is trading above our estimate of [[fair value]] (IDR36.63)

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

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: FMII (IDR545) is trading above our estimate of fair value (IDR36.63)

Significantly Below Fair Value: FMII is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As FMII barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for FMII. This is calculated by dividing FMII's market cap by their current book value.
What is FMII's PB Ratio?
PB Ratio	5.2x
Book	Rp672.30b
Market Cap	Rp3.49t

FMII key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	106.3x
Enterprise Value/EBITDA	356.4x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does FMII's PB Ratio compare to its peers?

The above table shows the PB ratio for FMII vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	0.6x
APLN Agung Podomoro Land	0.2x	n/a	Rp2.4t
ASRI Alam Sutera Realty	0.3x	-4.9%	Rp3.1t
SMDM Suryamas Dutamakmur	1.1x	n/a	Rp2.5t
MTLA Metropolitan Land	0.6x	n/a	Rp3.2t
FMII Fortune Mate Indonesia	5.2x	n/a	Rp3.5t

Price-To-Book vs Peers: FMII is expensive based on its Price-To-Book Ratio (5.2x) compared to the peer average (0.6x).

Price to Book Ratio vs Industry

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

5 Companies	Price / Book	Estimated Growth	Market Cap
GWSA Greenwood Sejahtera	0.1x	n/a	US$64.87m
ELTY Bakrieland Development	0.1x	n/a	US$35.64m
KOTA DMS Propertindo	0.08x	n/a	US$5.98m
BAPI Bhakti Agung Propertindo	0.1x	n/a	US$3.17m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: FMII is expensive based on its Price-To-Book Ratio (5.2x) compared to the ID Real Estate industry average (0.5x).

Price to Book Ratio vs Fair Ratio

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

FMII PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	5.2x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate FMII's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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