Bukit Asam Tbk PT (PTBA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Bukit Asam Tbk PT stock IDR 4,768, price IDR 2,980, upside +60.0%, quality 60 out of 100. Rating: strongly undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
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Bukit Asam Tbk PT
PTBA · JKThe stock costs 38% less than our calculation considers fair.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 878.62 IDR – 3,400 IDR · fair‑value band 3,196 IDR – 6,198 IDR · the 2,980 IDR price screens below the 4,768 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Company profile
PT Bukit Asam (Persero) Tbk, together with its subsidiaries, engages in coal mining activities in Indonesia. The company's coal mining activities include general surveying, exploration, exploitation, processing, refining, transportation, and trading.
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It maintains special coal dock facilities; operates steam-fired power plants; and engages in the mining of coal methane gas. The company also offers briquette processing, mining services, palm plantation and processing, and health services, as well as real estate and construction services.
In addition, it engages in the hospital clinic and polyclinic; rental; port; and trade, services, workshop, development, industry, and transportation businesses.
It also exports its products to India, South Korea, China, Cambodia, Vietnam, Japan, Bangladesh, Thailand, Taiwan, Philippines, Malaysia, Hong Kong, Spain, and Romania. The company was formerly known as PT Bukit Asam Tbk and was changed to PT Bukit Asam (Persero) Tbk in February 2026.
PT Bukit Asam (Persero) Tbk was founded in 1876 and is headquartered in Tanjung Enim Selatan, Indonesia. PT Bukit Asam (Persero) Tbk operates as a subsidiary of PT Mineral Industri Indonesia (Persero).
Stock analysis
Bukit Asam Tbk PT (PTBA) currently trades at 2,980 IDR, while our model-based Fair Value estimate is 4,768 IDR, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 4,155 IDR per share, and 18 of the 25 models we run sit above the 2,980 IDR price.
Bear case: the Asset-Based group reads lowest at 1,302 IDR, and 7 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: 3,196 IDR (bear) to 6,198 IDR (bull), the price of 2,980 IDR sits below 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 60/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bukit Asam Tbk PT reported revenue of 42.7T IDR in FY2025 versus 29.3T IDR in FY2021, a compound +9.9%/yr. Reported net income was 2.9T IDR in FY2025, compounding −22.0%/yr from FY2021.
Key figures
Market cap 37.3T IDR (≈ $2.1B) Mid · P/E ratio 5.8 · P/S ratio 0.40 · EPS (TTM) 516.00 IDR · Dividend yield 3.9% · Net margin 6.9% · Return on equity 21.1% · Return on assets (EBIT) 20.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −25% fair-value upside, at 60%, PTBA screens cheaper than that median.
Fair Value models
All 25 models by family
The fair value above starts from this blend and is adjusted for a cyclical trough year.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
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Compare Bukit Asam Tbk PT with another stock
Price, fair value, quality and upside side by side.
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 · 82 stocks
Valuation Multiplesvs Thermal Coal median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EV/EBITDA by industry
- Dividend yield by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Energy
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Thermal Coal stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Coal India Limited COALINDIA | ₹400.00 | ₹464.01 | +16% | vs PTBA |
| China Coal Energy Company 601898 | ¥12.91 | ¥14.62 | +13% | vs PTBA |
| PT Bayan Resources Tbk., BYAN | 8,625 IDR | 9,488 IDR | +10% | vs PTBA |
| Shaanxi Coal Industry Company 601225 | ¥25.85 | ¥28.07 | +9% | vs PTBA |
| Inner Mongolia Dian Tou Energy Corporation 002128 | ¥27.34 | ¥20.56 | −25% | vs PTBA |
| Shanxi Lu'an Environmental Energy Development Co 601699 | ¥13.43 | ¥9.23 | −31% | vs PTBA |
| China Shenhua Energy Company 601088 | ¥48.54 | ¥31.96 | −34% | vs PTBA |
| Yankuang Energy Group 600188 | ¥16.76 | ¥9.22 | −45% | vs PTBA |
| PT Dian Swastatika Sentosa Tbk, DSSA | 600.00 IDR | 244.59 IDR | −59% | vs PTBA |
| Adani Enterprises Limited ADANIENT | ₹2,746 | ₹891.11 | −68% | vs PTBA |
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Frequently asked questions
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Key figures of Bukit Asam Tbk PT
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