1. Indonesia Stocks

  2. •

    Real Estate

  3. •

    Real Estate - Development
PT Gowa Makassar Tourism Development Tbk

PT Gowa Makassar Tourism Development Tbk

GMTD.JK
PT Gowa Makassar Tourism Development TbkID flagIndonesia Stock Exchange
1,380.00
IDR
+15.00
- -
1.40TMarket Cap
PT Gowa Makassar Tourism Development Tbk
GMTD.JK
(Indonesia Stock Exchange)

Recent

price

1,380.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
236.28
296.52
296.76
298.75
272.09
224.05
241.33
202.4
165.05
136.71
310.6
373.36
393.57
- -
284.16
Revenue per Share
63.4
90.63
119.9
117.09
85.6
67.2
60.51
-69.05
-104.35
-26.96
8.86
127.06
134.78
- -
31.69
Basic EPS, GAAP
-0.16
-2.61
-1.08
-0.6
-0.46
-0.08
-0.67
-0.41
-0.74
-12.91
-7.15
-2.25
-10.73
- -
-2.93
Free Cash Flow per Basic Share
3.56
4.68
5
6.5
4.5
2.5
1.6
2
- -
- -
- -
0.3
2.3
- -
- -
Dividend per Share
230.12
317.15
431.67
543.53
623.57
687.64
746.96
674.17
570.54
543.09
552.32
680.2
812.76
- -
840.69
Book Value per Share
230.41
398.41
656.99
545.86
629.08
693.18
752.5
679.72
576.08
548.6
557.76
685.67
818.26
- -
846.16
Tangible Book Value per Share
1,015
1,015
1,015
1,015
1,015
1,015
1,015
1,015
1,015
1,015
1,015
1,015
1,015
- -
1,015
Basic Weighted Avg Shares
239,911
301,085
301,320
303,342
276,272
227,500
245,038
205,516
167,584
138,808
315,372
379,100
399,627
288,528
288,528
Sales/Revenue/Turnover
27.6
33.1
38.57
38.62
33.28
32.39
29.46
19.73
11.27
-3.52
23.57
30.62
36.17
12.19
12.19
Operating Margin (%)
506
676
941
1,069
995
968
704
328
409
1,208
2,449
2,664
5,944
5,524
5,524
Depreciation Expense
64,373
92,029
121,743
118,892
86,915
68,230
61,443
-70,116
-105,950
-27,376
8,998
129,014
136,854
32,175
32,175
Net Income, GAAP
15.94
14.26
0.59
0.78
0.68
0.83
0.97
- -
- -
- -
4.15
0.29
0.28
1.95
1.95
Effective Tax Rate (%)
26.83
30.57
40.4
39.19
31.46
29.99
25.07
-34.12
-63.22
-19.72
2.85
34.03
34.25
11.15
11.15
Profit Margin (%)
131,340
10,810
554,576
32,936
71,981
80,866
129,085
177,516
131,485
203,132
130,875
266,111
489,265
488,039
488,039
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
233,955
404,539
667,098
554,257
638,759
703,837
764,071
690,169
584,939
557,073
566,437
696,284
830,890
859,244
859,244
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
28.9
23.08
19.61
14.7
10.45
8.74
- -
- -
- -
7.08
24.58
21.08
5.43
5.43
Return on Capital (%)
- -
33.12
32.02
24.01
14.67
10.25
8.44
-9.72
-16.77
-4.84
1.62
20.62
18.06
3.83
3.83
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,015
1,015
1,015
Market Capitalization
2,558,758
2,172,913
3,391,369

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
772,094
774,693
791,145
Cash, Cash Equivalents & STI
129,408
101,617
86,898
Accounts Receivable, Net
- -
- -
- -
Inventories
604,140
634,928
663,963
Total Current Liabilities
166,621
170,446
303,106
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.17%
8.52%
3.41%
Free Cash Flow
254.82%
369.51%
-72.65%
Net Income, GAAP
83.5%
211.27%
-76.49%
Sales/Revenue/Turnover
5.44%
21.57%
-27.8%
Total Cash Common Dividend
- -
- -
65.22%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
96,462
66,602
120,677
136,252
379,100
2024
215,237
43,325
56,505
79,231
399,627
2025
65,316
71,014
83,129
69,069
288,528

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
26.45
- -
- -
- -
127.06
2024
118.27
- -
- -
- -
134.78
2025
4.55
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.3
2024
- -
- -
- -
- -
2.3
2025
- -
- -
- -
- -
- -
Similar Companies
PJSC GC BASIS (BAZA.ME)
City Developments Limited (CDEVY)
CA Immobilien Anlagen AG (CAIAF)
Tradewell Holdings Limited (TRADEWELL.BO)
M.K. Real Estate Development Public Company Limited (MK.BK)
Kolte-Patil Developers Limited (KOLTEPATIL.NS)
Business
PT Gowa Makassar Tourism Development Tbk (GMTD.JK) engages in real estate development and property management, primarily as developer and operator of Tanjung Bunga, a 1,000-hectare integrated township featuring residential clusters, commercial complexes, hotels, recreational facilities, and supporting infrastructure in Makassar, South Sulawesi, Indonesia; core offerings include twelve residential clusters such as Taman Guna Asri, The Mahogany Residence, and Virginia Park; ready-to-build land plots; commercial properties encompassing Mall GTC Makassar and Trans Studio theme park; township management services; and non-commercial amenities like roads, parks, and utilities. Founded on May 14, 1991, as PT Gowa Makassar Tourism Development Corporation and listed on the Indonesia Stock Exchange, the company is headquartered at Mall GTC GA-9 No. 1B, Jl. Metro Tanjung Bunga, Makassar, with Lippo Group as its largest shareholder since 1994 and wholly owned subsidiaries including PT Kenanga Elok Asri, PT Krisanta Esa Maju, PT Griya Eksotika Utama, PT Griya Megah Sentosa, and PT Wahana Properti Nusantara. Recent developments encompass a 1-for-10 stock split effective January 2024 to enhance free float compliance, increasing outstanding shares to over 1.01 billion at a nominal value of Rp50; reaffirmation of legal ownership over 16 hectares in Tanjung Bunga amid encroachment disputes in 2025; half-year earnings reported for June 30, 2025; and an annual dividend declaration payable July 8, 2025, alongside ongoing luxury coastal residence projects like The Aluxe in the township.