PT Merdeka Battery Materials Tbk

mbma

-9.24%

Overview

MBMA Overview

PT Merdeka Battery Materials Tbk has a portfolio of business assets in the strategic mineral value chain and electric vehicle (EV) battery raw materials. The Company’s segments include Mining, Manufacturing and Others. Its business assets include Sulawesi Cahaya Mineral (SCM Mine), Smelter Rotary Kiln-Electric Furnace (RKEF), Acid Iron Metal (AIM) Project, HPAL Factory and Indonesia Konawe Industrial Park (IKIP). The SCM Mine is a nickel resource containing about 13.8 million tons of nickel (1.22% Ni) and one million tons of cobalt (0.08% Co). It has two RKEF nickel smelters (PT Cahaya Smelter Indonesia and PT Bukit Smelter Indonesia), which produces Nickel Pig Iron (NPI) in the Morowali Industrial Estate (IMIP). The AIM Project includes a processing plant that focuses on producing acid and steam used in the HPAL plant, and produces other metals such as copper, gold, and iron. The IKIP is a joint venture to develop approximately 3,500 hectares of nickel industrial park.

No data is available for MBMA at the moment.
Exchange
Indonesia Stock Exchange

Symbol: MBMA

Development
Market Cap.
IDR 58.32Trillion

~$3.64B USD

Industry
Metals & Minerals
Sub-Industry
Diversified Metals & Minerals
Sector
Basic Materials
Sub-Sector

Valuation

MBMA Valuation Metrics

540

IDR
-9.2%

Closing Price on 2024-04-17

Price to Equity

543.36

P/E

At 543.36x P/E TTM, MBMA.JK is trading at a premium to its peers in the Basic Materials sector (avg 8.4x).

Price to Book

2.46

P/B

At 2.46x P/B TTM, MBMA.JK is trading at a premium to its peers in the Basic Materials sector (avg 0.9x).

Price to Sales

2.83

P/S

At 2.83x P/S TTM, MBMA.JK is trading at a premium to its peers in the Basic Materials sector (avg 0.8x).

Valuing PT Merdeka Battery Materials Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Basic Materials sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Merdeka Battery Materials Tbk relative to other stocks in the Basic Materials sector

Price/Cash Flow
-243.12x
Price/Forward Earnings
-
Enterprise Value/Revenue
2.99x
Enterprise Value/EBITDA
73.81x
PEG Ratio
-

Analyst Ratings

40
60
80
0
100

70.0

Undervalued

Fairly Valued

Overvalued

Valuation Recap of MBMA stock
WeightNotesScore
High
The P/E ratio is calculated by dividing the market price of a company's stock by its earnings per share (EPS). It is a key tool for investors and analysts to assess whether a stock is overvalued, undervalued, or fairly valued. A P/E ratio of 543.36x is above the ID market average of 8.53x and is trading at a premium to peers in the Basic Materials sector (8.40x). In fact, less than 25% of its peers trade at a higher P/E ratio than MBMA.
Max 3
High
The P/B ratio is calculated by dividing the market price of a company's stock by its book value per share (BVPS). It measures the company's stock value relative to its assets minus liabilities. A P/B ratio of 2.46x is above the peers average of 0.88x in the Basic Materials sector. MBMA trades at a higher P/B ratio than >75% of its peers in the Basic Materials sector.
Max 3
Medium
The P/S ratio is calculated by dividing the market price of a company's stock by its sales per share. It measures the company's stock value relative to its sales. A P/S ratio of 2.83x is above the peers average of 0.81x in the Basic Materials sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of MBMA's valuation relative to its current sales and future earnings growth.
Max 2
Low
The Price/Cash Flow ratio (P/CF) is calculated by dividing the market price of a company's stock by its cash flow per share. It measures the company's stock value relative to its cash flow, and is sometimes said to be a more objective measure of a company's value because cash flows cannot be manipulated as easily as earnings, which considers non-cash items such as depreciation and amortization. MBMA's P/CF ratio of -243.12x is considered healthy by analysts.●●
Max 2
Low
The Enterprise Value/Revenue ratio (EV/R) is calculated by dividing the enterprise value of a company by its revenue. It measures the company's enterprise value relative to its revenue. It is an indicator of how much it costs to buy the company's revenue; the lower the ratio, the cheaper the company's revenue. MBMA's EV/R ratio of 2.99x is considered fairly underpriced by the market The average EV/R ratio for the Basic Materials sector is 1.12x.
Max 3

Peers

MBMA Peers and Comparison

Peer Companies

Supertype Fuzzy Search
SymbolCompany Name
Market Cap
(in Trillion IDR)
Total Assets
(in Trillion IDR)
Total Revenue
(in Trillion IDR)
Profit and Loss
(in Trillion IDR)
P/E
P/B
AMMNPT Amman Mineral Internasional Tbk.638.16T140.91T 31.50T 3.91T 163.399.05
TPIAPT Chandra Asri Petrochemical Tbk592.60T86.97T 33.46T -0.52T -1139.4213.97
BRPTBarito Pacific Tbk93.09T157.22T 42.76T 0.40T 230.123.56
MDKAPT Merdeka Copper Gold Tbk.69.32T76.90T 26.44T -0.32T -216.624.83
MBMAPT Merdeka Battery Materials Tbk58.32T50.55T 20.58T 0.11T 543.362.46
NCKLPT Trimegah Bangun Persada Tbk.58.05T45.29T 23.86T 5.62T 10.332.47
INKPIndah Kiat Pulp & Paper Tbk51.97T156.84T 53.89T 6.37T 8.150.56
ANTMAneka Tambang Tbk.43.14T35.50T 43.15T 4.04T 10.671.75
INCOVale Indonesia Tbk42.43T45.32T 19.09T 4.25T 9.981.07
BRMSBumi Resources Minerals Tbk23.39T17.27T 0.55T 0.27T 86.211.29
Competitiveness Recap of MBMA stock
WeightNotesScore
High
At a market cap of IDR 58,317.30 billion, MBMA.JK ranks 5 in Market Cap out of 10 companies in the Basic Materials sector.
Max 2
High
At a PE of 543.36, MBMA.JK ranks 1 out of 10 companies in the Basic Materials sector for P/E value. The average PE is -38.00 (unadjusted). A high P/E ratio often indicates higher growth expectation, or other qualitative factors that led investors to believe that the company has a defensible competitive advantage compared to its peers in Basic Materials. false●●
Max 2
Medium
At a PE of 543.36, MBMA.JK is trading at a higher PE than that of its subsector peers in Basic Materials (median of 8.40). false●●
Max 2
Medium
At a revenue of IDR 20.58 trillion, MBMA.JK ranks 8 in Revenue out of 10 companies in the Basic Materials sector.
Max 2
Medium
At a profit of IDR 0.11 trillion, MBMA.JK ranks 7 in Profit out of 10 companies in the Basic Materials sector.
Max 2

Future

Future Growth of MBMA

Growth Forecasts

No data available

Sector Benchmark

Basic Materials companies in Indonesia are growing at a projected rate of 5.04% against the IDX average of +7.6%.

Basic Materials sector overview
No data is available for MBMA at the moment.
Future growth prospect of MBMA
WeightNotesScore
High
MBMA's projected growth rate of 5.04% is below the ID market average of 7.62%.●●●
Max 3
High
The Basic Materials sub-sector is projected to grow revenue by 93.26% in 2024. This number is higher than the previous year 2023's growth rate of -8.67%. This bodes well for MBMA's revenue growth prospects in the next 2 years. ●●●
Max 3
Medium
The Basic Materials sub-sector is projected to increase earnings by 8.54% in 2024. This number is higher than the previous year 2023's EPS growth of 0.72%. This bodes well for MBMA's earnings growth prospects in the next 2 years. ●●
Max 3
Medium
MBMA and its peers in the Basic Materials sub-sector belongs to the Basic Materials sector. Companies in the Basic Materials sector are projected to have a fruitful year heading into 2024. Specifically, earnings are projected to increase by 8.54% in 2024 while revenue growth is projected to increase by 93.26%. These macroeconomic trends will likely be a tailwind for MBMA's earnings growth prospects in the next 2 years. ●●
Max 3
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Management

Executive Management

President Director

Devin Antonio Ridwan15.2 years

Vice President Director

Jason Laurence Greive15.4 years
Titien Supeno
Director
Andrew Phillip Starkey
Director
NamePositionShares%
Winato KartonoPresident Commissioner5,865,802,4005.43
Expressed in millions IDR, unless otherwise stated

Ownership

MBMA Ownership

Others
19.89%
Insiders
79.82%
Institutions
0.29%
NameNumber of SharesOwnership (%)Value
Pt Merdeka Energi Nusantara54,045,287,67750.0429,184.46B
Public (Scripless)29,760,402,72327.5616,070.62B
Garibaldi Thohir10,174,867,1009.425,494.43B
Huayong International (Hong Kong) Limited8,149,060,0007.554,400.49B
Winato Kartono5,865,802,4005.433,167.53B

Largest Institutional Buy

PT Eastspring Investment Indonesia
Bought 31-12-2023
+6,657,100 shares
Länsförsäkringar Fondförvaltning AB
Bought 31-12-2023
+4,894,642 shares
TA Investment Mgt Berhad
Bought 31-12-2023
+3,426,900 shares

Largest Institutional Sell

Janus Henderson Investors UK Limited
Sold 31-12-2023
-42,397,771 shares
SEI Investments Management Corp
Sold 31-12-2023
-22,404,400 shares
Driehaus Capital Management LLC
Sold 31-12-2023
-18,969,800 shares

Institutional Transactions

Tracking institutional transactions buying / selling of MBMA stock