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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: 550 IDR 10% Market Closed
Market Cap: 59.4T 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 1 027.86 IDR. Compared to the current market price of 550 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
1 027.86 IDR
Undervaluation 46%
Intrinsic Value
Price
P
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Base 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
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Annual
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TTM

Revenue & Expenses Breakdown
PT Merdeka Battery Materials Tbk

Balance Sheet Decomposition
PT Merdeka Battery Materials Tbk

Current Assets 789.9m
Cash & Short-Term Investments 247.2m
Receivables 238.8m
Other Current Assets 303.9m
Non-Current Assets 2.5B
Long-Term Investments 62.6m
PP&E 2B
Intangibles 359.4m
Other Non-Current Assets 55.6m
Current Liabilities 328.2m
Accounts Payable 206.3m
Accrued Liabilities 49m
Other Current Liabilities 72.9m
Non-Current Liabilities 1.4B
Long-Term Debt 537.6m
Other Non-Current Liabilities 881.5m
Efficiency

Earnings Waterfall
PT Merdeka Battery Materials Tbk

Revenue
1.9B USD
Cost of Revenue
-1.8B USD
Gross Profit
122.2m USD
Operating Expenses
-26.2m USD
Operating Income
96.1m USD
Other Expenses
-49.1m USD
Net Income
47m 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 41/100. The higher the profitability score, the more profitable the company is.

Exceptional Revenue Growth Forecast
Exceptional 1-Year Revenue Growth
Low ROIC
Low ROE
41/100
Profitability
Score

PT Merdeka Battery Materials Tbk's profitability score is 41/100. 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 69/100. The higher the solvency score, the more solvent the company is.

High Altman Z-Score
Low D/E
Short-Term Solvency
Long-Term Solvency
69/100
Solvency
Score

PT Merdeka Battery Materials Tbk's solvency score is 69/100. 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 733.83 IDR with a low forecast of 616.1 IDR and a high forecast of 882 IDR.

Lowest
Price Target
616.1 IDR
12% Upside
Average
Price Target
733.83 IDR
33% Upside
Highest
Price Target
882 IDR
60% Upside
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Dividends

PT Merdeka Battery Materials Tbk
does not pay dividends
Shareholder Yield

Current shareholder yield for MBMA is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

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Profile

PT Merdeka Battery Materials Tbk

Country

Indonesia

Industry

Metals & Mining

Market Cap

59.4T 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 1 027.86 IDR.

Is MBMA stock undervalued or overvalued?

Compared to the current market price of 550 IDR, PT Merdeka Battery Materials Tbk is Undervalued by 46%.

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