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PT Merdeka Battery Materials Tbk
IDX:MBMA

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PT Merdeka Battery Materials Tbk
IDX:MBMA
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Price: 525 IDR -0.94% Market Closed
Market Cap: 56.7T IDR
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Intrinsic Value

MBMA's intrinsic value estimate is unreliable because it is based only on its multiples and doesn't use a DCF valuation.

The intrinsic value of one MBMA stock under the Base Case scenario is 970.64 IDR. Compared to the current market price of 525 IDR, PT Merdeka Battery Materials Tbk is Undervalued by 46%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

MBMA Intrinsic Value
970.64 IDR
Undervaluation 46%
Intrinsic Value
Price
P
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Base Case
Best Case

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PT Merdeka Battery Materials Tbk

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
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TTM
Annual
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TTM

Revenue & Expenses Breakdown
PT Merdeka Battery Materials Tbk

Balance Sheet Decomposition
PT Merdeka Battery Materials Tbk

Current Assets 883.3m
Cash & Short-Term Investments 285.6m
Receivables 204.5m
Other Current Assets 393.2m
Non-Current Assets 2.4B
Long-Term Investments 9m
PP&E 2B
Intangibles 359.4m
Other Non-Current Assets 61.9m
Current Liabilities 386.9m
Accounts Payable 241.6m
Accrued Liabilities 51.9m
Other Current Liabilities 93.4m
Non-Current Liabilities 1.4B
Long-Term Debt 466.2m
Other Non-Current Liabilities 914m
Efficiency

Earnings Waterfall
PT Merdeka Battery Materials Tbk

Revenue
1.8B USD
Cost of Revenue
-1.7B USD
Gross Profit
95.3m USD
Operating Expenses
-37.3m USD
Operating Income
58m USD
Other Expenses
-47.4m USD
Net Income
10.6m USD

Free Cash Flow Analysis
PT Merdeka Battery Materials Tbk

Last Value
3-Years Average
FCF Margin
Conversion Rate
Fundamental Scores

MBMA Profitability Score
Profitability Due Diligence

PT Merdeka Battery Materials Tbk's profitability score is 38/100. The higher the profitability score, the more profitable the company is.

Exceptional Revenue Growth Forecast
Low ROIC
Positive Gross Profit
Low ROE
38/100
Profitability
Score

PT Merdeka Battery Materials Tbk's profitability score is 38/100. The higher the profitability score, the more profitable the company is.

MBMA Solvency Score
Solvency Due Diligence

PT Merdeka Battery Materials Tbk's solvency score is 70/100. The higher the solvency score, the more solvent the company is.

High Altman Z-Score
Low D/E
Short-Term Solvency
Long-Term Solvency
70/100
Solvency
Score

PT Merdeka Battery Materials Tbk's solvency score is 70/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

MBMA Price Targets Summary
PT Merdeka Battery Materials Tbk

Wall Street analysts forecast MBMA stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for MBMA is 735.68 IDR with a low forecast of 616.1 IDR and a high forecast of 882 IDR.

Lowest
Price Target
616.1 IDR
17% Upside
Average
Price Target
735.68 IDR
40% Upside
Highest
Price Target
882 IDR
68% Upside
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Dividends

PT Merdeka Battery Materials Tbk
does not pay dividends
Shareholder Yield

Current shareholder yield for MBMA is .

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Dividend Yield
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Profile

PT Merdeka Battery Materials Tbk

Country

Indonesia

Industry

Metals & Mining

Market Cap

56.7T IDR

Dividend Yield

0%

Description

PT Merdeka Battery Materials Tbk engages in production of minerals and electric vehicle (EV) battery raw materials. The company employs 1,285 full-time employees The company went IPO on 2023-04-18. 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). The company 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.

Contact

Karet Kuningan, Setiabudi, Rdtx Tower Floor 16

IPO

2023-04-18

Employees

1 285

Officers

President Director
Mr. Devin Antonio Ridwan
Chief Operating Officer
Mr. Mark Mitchell
Executive General Manager of ESG
Mr. Ali Reza Sahami
Head of Internal Audit Unit
Carlo Clanchy Wibowo
President Director of PT Sulawesi Cahaya Mineral
Mr. Agus Superiadi
Corporate Secretary
Mr. Deny Greviartana Wijaya

See Also

Discover More
What is the Intrinsic Value of one MBMA stock?

The intrinsic value of one MBMA stock under the Base Case scenario is 970.64 IDR.

Is MBMA stock undervalued or overvalued?

Compared to the current market price of 525 IDR, PT Merdeka Battery Materials Tbk is Undervalued by 46%.

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