PT Alamtri Resources Indonesia Tbk (ADRO) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of PT Alamtri Resources Indonesia Tbk stock IDR 3,411, price IDR 2,330, upside +46.4%, quality 61 out of 100. Rating: undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 305.69 IDR – 2,840 IDR · fair‑value band 2,276 IDR – 4,228 IDR · the 2,330 IDR price screens below the 3,411 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.
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PT Alamtri Resources Indonesia Tbk, together with its subsidiaries, engages in the coal and mining business in Indonesia. It operates through Coal Mining and Trading; Mining Services; Logistics; and Others segments.
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The company provides trading, transportation, warehousing, quarrying, cargo handling, and mining and transportation support services.
It is involved in the agriculture, construction, and seaport service activities, as well as repair and installation of machines, power supply, water treatment, and forestry and industry related activities.
In addition, the company provides investment, trading and power plant, electric power supply, metal processing, and stone sand and other clays quarrying services; and transmission, distribution, and sale of electricity. It also exports its products to China, India, Korea, and Singapore.
The company was formerly known as PT Adaro Energy Indonesia Tbk and changed its name to PT Alamtri Resources Indonesia Tbk in November 2024. The company was founded in 2004 and is headquartered in Jakarta, Indonesia.
Stock analysis
PT Alamtri Resources Indonesia Tbk (ADRO) currently trades at 2,330 IDR, while our model-based Fair Value estimate is 3,411 IDR, implying the stock looks roughly 32% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 3,666 IDR per share, and 9 of the 16 models we run sit above the 2,330 IDR price.
Bear case: the Asset-Based group reads lowest at 1,867 IDR, and 7 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2,276 IDR (bear) to 4,228 IDR (bull), the price of 2,330 IDR sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PT Alamtri Resources Indonesia Tbk reported revenue of $1.9B in FY2025 versus $4.0B in FY2021, a compound −17.5%/yr. Reported net income was $442M in FY2025, compounding −17.0%/yr from FY2021.
Key figures
Market cap 67.1T IDR (≈ $3.7B) Mid · P/E ratio 6.9 · P/S ratio 1.64 · EPS (TTM) 339.58 IDR · Dividend yield 12.4% · Net margin 23.9% · Return on equity 14.2% · Return on assets (EBIT) 19.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 71 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 48% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −27% fair-value upside, at 46%, ADRO screens cheaper than that median.
Fair Value models
Bear2,276 IDRFair Value 3,411 IDRBull4,228 IDR
Price 2,330 IDR · Upside +46.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (44.18 IDR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+37.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.5%
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−32.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+17.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.1%
Dividend (yield on the price)12.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5.1% vs 11.3%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.17% → 28%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 3.4%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare PT Alamtri Resources Indonesia Tbk with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Thermal Coal · 81 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside+46.4% · Top 25%
Profitability
Return on equity (12 months)14.2% · Top 25%
Return on assets6.5% · Above median
Net margin (12 months)27.3% · Top 25%
Operating margin (12 months)36.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)84.0% · Top 25%
Dividend yield (12 months)12.4% · Top 25%
Balance sheet
Debt / equity0.16× · Below median
Valuation Multiplesvs Thermal Coal median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "PT Alamtri Resources Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/ADRO
Frequently asked questions
Is PT Alamtri Resources Indonesia Tbk (ADRO) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 3,411 IDR versus a price of 2,330 IDR, about +46% upside (undervalued).
What is the fair value of ADRO?
Our model-based fair value for PT Alamtri Resources Indonesia Tbk is 3,411 IDR (as of Nov 9, 2026), built from audited fundamentals. The current price: 2,330 IDR.
What is the quality score of ADRO?
PT Alamtri Resources Indonesia Tbk has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PT Alamtri Resources Indonesia Tbk (ADRO)?
Our model-based price target is the fair value of 3,411 IDR (as of Nov 9, 2026) from 16 valuation models. Cautious scenario 2,276 IDR, optimistic scenario 4,228 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the PT Alamtri Resources Indonesia Tbk stock forecast for 2026?
Our models put fair value at 3,411 IDR, about +46% upside versus a price of 2,330 IDR (undervalued). Cautious scenario 2,276 IDR, optimistic scenario 4,228 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of PT Alamtri Resources Indonesia Tbk (ADRO)?
PT Alamtri Resources Indonesia Tbk reported trailing-twelve-month revenue of about $2.4B (latest available figure, as of Nov 9, 2026).
Does PT Alamtri Resources Indonesia Tbk pay a dividend?
PT Alamtri Resources Indonesia Tbk currently shows a dividend yield of 12.36% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of PT Alamtri Resources Indonesia Tbk (ADRO) and when is the ex-dividend date?
PT Alamtri Resources Indonesia Tbk pays a dividend of 288.06 IDR per share a year, a dividend yield of 12.4%. The last ex-dividend date was Apr 28, 2026. A dividend has been paid every year since at least 2009. The payout ratio is 104% of earnings. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What is the intrinsic value of PT Alamtri Resources Indonesia Tbk (ADRO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PT Alamtri Resources Indonesia Tbk it is 3,411 IDR per share (as of Nov 9, 2026), against a price of 2,330 IDR. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is PT Alamtri Resources Indonesia Tbk stock overvalued or undervalued in 2026?
As of Nov 9, 2026, ADRO trades below its calculated fair value: price 2,330 IDR, fair value 3,411 IDR, a gap of about +46% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ADRO?
No. The price is what the market pays today (2,330 IDR); the fair value is what the company's own numbers justify (3,411 IDR). For PT Alamtri Resources Indonesia Tbk the two are 1,081 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is PT Alamtri Resources Indonesia Tbk worth?
The market values PT Alamtri Resources Indonesia Tbk at about 67.1T IDR (market capitalisation, as of Nov 9, 2026). Per share that is 2,330 IDR; our models calculate a fair value of 3,411 IDR per share.
What do the bullish and bearish scenarios say about ADRO?
Our models span a range for PT Alamtri Resources Indonesia Tbk: cautious scenario 2,276 IDR, base 3,411 IDR, optimistic 4,228 IDR per share (as of Nov 9, 2026, price 2,330 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ADRO?
PT Alamtri Resources Indonesia Tbk trades at a price-to-earnings ratio of 6.9 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3,411 IDR is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 10.9. Other multiples: PEG 0.9, P/B 0.8, P/S 1.5, EV/EBITDA 3.4.
What is the PEG ratio of ADRO?
The PEG ratio of PT Alamtri Resources Indonesia Tbk is 0.85 (P/E divided by earnings growth, as of Nov 9, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of PT Alamtri Resources Indonesia Tbk (ADRO)?
Balance-sheet figures for PT Alamtri Resources Indonesia Tbk (as of Nov 9, 2026): return on equity 14.2%, debt of 0.16 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is ADRO from its 52-week high?
PT Alamtri Resources Indonesia Tbk trades at 2,330 IDR, about 18% below its 52-week high of 2,840 IDR and 48% above the low of 1,570 IDR (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 3,411 IDR is for.
Which stocks are comparable to PT Alamtri Resources Indonesia Tbk?
From the same area (Energy) we also value China Shenhua Energy Company, Shaanxi Coal Industry Company, Adani Enterprises Limited, China Coal Energy Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PT Alamtri Resources Indonesia Tbk stock attractive at the current price?
The data as of Nov 9, 2026: price 2,330 IDR, calculated fair value 3,411 IDR (+46%), Quality Score 61/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ADRO calculated?
We run PT Alamtri Resources Indonesia Tbk through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 3,411 IDR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. PT Alamtri Resources Indonesia Tbk currently trades 32% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PT Alamtri Resources Indonesia Tbk (ADRO)?
The closing price on Nov 9, 2026 was 2,330 IDR. Our model-based fair value is 3,411 IDR, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PT Alamtri Resources Indonesia Tbk right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (2,276 IDR to 4,228 IDR) leaves room in how you read the outcome.
Where does the earnings growth of PT Alamtri Resources Indonesia Tbk (ADRO) come from?
Earnings per share at PT Alamtri Resources Indonesia Tbk grew +21.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.7 %, EBIT margin +7.8 %, tax rate +3.9 %, residual (interest, one-offs) +4.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of PT Alamtri Resources Indonesia Tbk
How large is the market capitalisation of PT Alamtri Resources Indonesia Tbk (ADRO)?
The market capitalisation of PT Alamtri Resources Indonesia Tbk is 67.1T IDR (≈ $3.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PT Alamtri Resources Indonesia Tbk (ADRO)?
The price-to-sales ratio of PT Alamtri Resources Indonesia Tbk is 1.64 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PT Alamtri Resources Indonesia Tbk (ADRO)?
Earnings per share at PT Alamtri Resources Indonesia Tbk are 339.58 IDR (price ÷ EPS = P/E 6.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PT Alamtri Resources Indonesia Tbk (ADRO)?
The dividend yield of PT Alamtri Resources Indonesia Tbk is 12.4% (payout 84.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PT Alamtri Resources Indonesia Tbk (ADRO)?
The net margin of PT Alamtri Resources Indonesia Tbk is 23.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PT Alamtri Resources Indonesia Tbk (ADRO)?
The return on equity (ROE) of PT Alamtri Resources Indonesia Tbk is 14.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PT Alamtri Resources Indonesia Tbk (ADRO)?
On an EBIT basis the return on assets of PT Alamtri Resources Indonesia Tbk is 19.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PT Alamtri Resources Indonesia Tbk (ADRO)?
The operating margin of PT Alamtri Resources Indonesia Tbk is 36.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PT Alamtri Resources Indonesia Tbk (ADRO)?
Revenue at PT Alamtri Resources Indonesia Tbk is growing +84.0% versus a year earlier (3y avg +37.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PT Alamtri Resources Indonesia Tbk (ADRO)?
Earnings per share at PT Alamtri Resources Indonesia Tbk are growing +64.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PT Alamtri Resources Indonesia Tbk (ADRO) generate?
The free cash flow of PT Alamtri Resources Indonesia Tbk is −$161M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does PT Alamtri Resources Indonesia Tbk (ADRO) hold?
PT Alamtri Resources Indonesia Tbk holds more cash than debt, $227M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 9, 2026