PT Goto Gojek Tokopedia TbkISX:GOTO 72 WACC % is 8.97% as of Jul. 01, 2026, which is 9% below its 10-year median of 9.83. GuruFocus rates ISX:GOTO with a GF Score™ of 72/100 and a GF Value™ of Rp85.02 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 2,911 Software companies, PT Goto Gojek Tokopedia Tbk ranks better than 50.67% on this metric.
As of today (2026-07-01), PT Goto Gojek Tokopedia Tbk's weighted average cost of capital is 8.97%%. PT Goto Gojek Tokopedia Tbk's ROIC % is 1.01% (calculated using TTM income statement data).
PT Goto Gojek Tokopedia Tbk earns returns that do not match up to its cost of capital. It will destroy value as it grows.
For a comprehensive WACC calculation, please access the WACC Calculator.
Because it costs money to raise capital. A firm that generates higher ROIC % than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, PT Goto Gojek Tokopedia Tbk's weighted average cost of capital is 8.97%%. PT Goto Gojek Tokopedia Tbk's ROIC % is 1.01% (calculated using TTM income statement data).
PT Goto Gojek Tokopedia Tbk earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
1. GuruFocus uses book value of debt (D) to do the calculation. It is simplified by adding latest one-year quarterly average Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation together.
For companies that report quarterly, GuruFocus combines all of the most recent year's quarterly debt data from the beginning of the year to the year-end and calculates the average.
For companies that report semi-annually, GuruFocus combines all of the most recent year's semi-annual debt data from the start of the year to the year-end and calculates the average.
For companies that report annually, GuruFocus combines the beginning and ending annual debt data from the most recent year and then calculates the average.
2. The WACC formula discussed above does not include Preferred Stock. Please adjust if preferred stock is considered.
3. (Expected Return of the Market - Risk-Free Rate of Return) is also called market premium. GuruFocus requires market premium to be 6%.
4. GuruFocus uses the latest TTM Interest Expense divided by the latest one-year quarterly average debt to get the simplified cost of debt.
Related Terms
PT Goto Gojek Tokopedia Tbk WACC % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Software - Infrastructure subindustry, PT Goto Gojek Tokopedia Tbk's WACC %, along with its competitors' market caps and WACC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
PT Goto Gojek Tokopedia Tbk WACC % vs Software Industry
For the Software industry and Technology sector, PT Goto Gojek Tokopedia Tbk's WACC % distribution charts can be found below:
* The bar in red indicates where PT Goto Gojek Tokopedia Tbk's WACC % falls into.
The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. The WACC is commonly referred to as the firm's cost of capital. Generally speaking, a company's assets are financed by debt and equity. WACC is the average of the costs of these sources of financing, each of which is weighted by its respective use in the given situation. By taking a weighted average, we can see how much interest the company has to pay for every dollar it finances.
WACC
=
E
/
(E + D)
*
Cost of Equity
+
D
/
(E + D)
*
Cost of Debt
*
(1 - Tax Rate)
1. Weights:
Generally speaking, a company's assets are financed by debt and equity. We need to calculate the weight of equity and the weight of debt.
The market value of equity (E) is also called "Market Cap". As of today, PT Goto Gojek Tokopedia Tbk's market capitalization (E) is Rp53100510.020 Mil.
The market value of debt is typically difficult to calculate, therefore, GuruFocus uses book value of debt (D) to do the calculation. It is simplified by adding the latest one-year quarterly average Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation together. As of Mar. 2026, PT Goto Gojek Tokopedia Tbk's latest one-year quarterly average Book Value of Debt (D) is Rp5921920.8 Mil.
a) weight of equity = E / (E + D) = 53100510.020 / (53100510.020 + 5921920.8) = 0.8997
b) weight of debt = D / (E + D) = 5921920.8 / (53100510.020 + 5921920.8) = 0.1003
2. Cost of Equity:
GuruFocus uses Capital Asset Pricing Model (CAPM) to calculate the required rate of return. The formula is:
Cost of Equity = Risk-Free Rate of Return + Beta of Asset * (Expected Return of the Market - Risk-Free Rate of Return)
a) GuruFocus uses 10-Year Treasury Constant Maturity Rate as the risk-free rate. It is updated daily. The current risk-free rate is 4.483%. Please go to Economic Indicators page for more information. Please note that we use the 10-Year Treasury Constant Maturity Rate of the country/region where the company is headquartered. If the data for that country/region is not available, then we will use the 10-Year Treasury Constant Maturity Rate of the United States as default.
b) Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. PT Goto Gojek Tokopedia Tbk's beta is 0.7300.
c) (Expected Return of the Market - Risk-Free Rate of Return) is also called market premium. GuruFocus requires market premium to be 6%.
Cost of Equity = 4.483% + 0.7300 * 6% = 8.863%
3. Cost of Debt:
GuruFocus uses latest TTM Interest Expense divided by the latest one-year quarterly average debt to get the simplified cost of debt.
As of Mar. 2026, PT Goto Gojek Tokopedia Tbk's interest expense (positive number) was Rp590912 Mil. Its total Book Value of Debt (D) is Rp5921920.8 Mil.
Cost of Debt = 590912 / 5921920.8 = 9.9784%.
4. Multiply by one minus TTM Tax Rate:
GuruFocus uses the most recent TTM Tax Expense divided by the most recent TTM Pre-Tax Income to calculate the tax rate. The calculated TTM tax rate is limited to between 0% and 100%. If the calculated tax rate is higher than 100%, it is set to 100%. If the calculated tax rate is less than 0%, it is set to 0%.
The latest calculated TTM Tax Rate = 497400 / -466951 = -106.52%, which is less than 0%. Therefore it's set to 0%.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PT Goto Gojek Tokopedia Tbk (ISX:GOTO) has a WACC % of 8.97% as of Jul. 01, 2026. The weighted average cost of capital (WACC) is the average rate a company pays to finance assets. View historical data on PT Goto Gojek Tokopedia Tbk and its competitors. This is near median its historical median of 9.83. Over the past decade, PT Goto Gojek Tokopedia Tbk's WACC % has ranged from 1.72 to 10.57. According to the industry distribution chart, PT Goto Gojek Tokopedia Tbk ranks #1436 out of 2911 companies in the Software industry, placing it in the top 49.3%.
Is PT Goto Gojek Tokopedia Tbk's WACC % too high?
PT Goto Gojek Tokopedia Tbk's current WACC % of 8.97% is near median its 10-year median of 9.83. Over the past 10 years, this metric has ranged from a low of 1.72 to a high of 10.57. The Software industry median WACC % is 8.97. PT Goto Gojek Tokopedia Tbk's value of 8.97% is 0% at this industry median. Based on the distribution chart, PT Goto Gojek Tokopedia Tbk ranks #1436 out of 2911 companies in the Software industry, which is above the industry midpoint. Overall, PT Goto Gojek Tokopedia Tbk has a GF Score™ of 72/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PT Goto Gojek Tokopedia Tbk's WACC % compare to MSFT and ORCL?
According to the Software industry distribution chart, PT Goto Gojek Tokopedia Tbk ranks #1436 out of 2911 companies for WACC %. This puts PT Goto Gojek Tokopedia Tbk in the upper half of its industry. The industry median WACC % is 8.97. PT Goto Gojek Tokopedia Tbk's value of 8.97% is 0% at this benchmark. Historically, PT Goto Gojek Tokopedia Tbk's own WACC % has ranged from 1.72 to 10.57 over the past decade. While the company's 10-year median is 9.83 vs. the industry median of 8.97, PT Goto Gojek Tokopedia Tbk has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good WACC % for a Software company?
The median WACC % among Software companies is 8.97, based on 2,911 companies in the industry. Companies in the top quartile (top 25%) have a WACC % significantly above this median, while those in the bottom quartile fall well below. However, WACC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PT Goto Gojek Tokopedia Tbk's current WACC % of 8.97% is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high WACC % mean?
A high WACC % can signal that a stock is expensive relative to its fundamentals. The weighted average cost of capital (WACC) is the average rate a company pays to finance assets. View historical data on PT Goto Gojek Tokopedia Tbk and its competitors. For the Software industry, the median WACC % is 8.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Goto Gojek Tokopedia Tbk's current WACC % is 8.97%, which is near median its own 10-year median of 9.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Goto Gojek Tokopedia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Goto Gojek Tokopedia Tbk (ISX:GOTO) is currently considered Possible Value Trap. The stock's GF Value™ is Rp85.02, compared to a current price of Rp50.00 — trading 41.2% below its estimated fair value. The current WACC % is 8.97%, which is near median its 10-year median of 9.83 and 0% at the Software industry median of 8.97. PT Goto Gojek Tokopedia Tbk's overall GF Score™ is 72/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is WACC % calculated?
WACC % is calculated from a company's financial statements. For PT Goto Gojek Tokopedia Tbk (ISX:GOTO), the current WACC % is 8.97% as of Jul. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is PT Goto Gojek Tokopedia Tbk (ISX:GOTO) Overvalued in 2026?
Based on GuruFocus' analysis, PT Goto Gojek Tokopedia Tbk stock appears to be undervalued.
The current stock price of Rp50.00 is trading 41.2% below its estimated GF Value™ of Rp85.02.
GuruFocus considers PT Goto Gojek Tokopedia Tbk to be Possible Value Trap.
Key valuation signals for ISX:GOTO:
WACC %: 8.97% (near median its 10-year median of 9.83)
GF Value™: Rp85.02 vs. price of Rp50.00 (41.2% below fair value)
Industry Position: 0% at the Software median (#1436 of 2911)
No single metric tells the full story. See the ISX:GOTO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
GoTo is an Indonesian ecosystem that combines ride-hailing, delivery, and financial services under one app. The company operates primarily in Indonesia and is the product of a merger between Gojek and Tokopedia in May 2021, but recently divested the e-commerce business into a combined entity with TikTok Indonesia in 2024. Looking ahead, we expect the financial services business to account for the majority of revenue while its on-demand business begins to become less of a priority. Prior to the deconsolidation, 82% of nonfinancial services' gross transactional value came from e-commerce, and the firm will begin to expand into financial services such as providing loans and buy-now, pay-later programs. The company competes with Grab in the ride-hailing and delivery business.
72GF Score
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