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STOCK COMPARISON

PT Merdeka Battery Materials vs PT Amman Mineral Internasional: Fair Value & Quality

Both stocks run through our valuation models. Here is how PT Merdeka Battery Materials (MBMA) and PT Amman Mineral Internasional (AMMN) compare, as of Aug 27, 2026.

As of Aug 27, 2026, Fair Value Calculator sees PT Amman Mineral Internasional as the less overvalued of the two: PT Merdeka Battery Materials trades at IDR 570 versus a fair value of IDR 82 (-86%), while PT Amman Mineral Internasional trades at IDR 4,450 versus IDR 1,021 (-77%).
PT Merdeka Battery Materials
MBMA.JK · IDR · Materials
-86%
upside to fair value
overvalued
PriceIDR 570
Fair ValueIDR 82
Quality39/100
PT Amman Mineral Internasional
AMMN.JK · IDR · Materials
-77%
upside to fair value
overvalued
PriceIDR 4,450
Fair ValueIDR 1,021
Quality26/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

PT Merdeka Battery MaterialsPT Amman Mineral Internasional
Valuation
50.2×P/E (TTM)24.0×
3.72×P/S (TTM)9.58×
3.58×P/B4.76×
17.1×EV/EBITDA20.7×
Profitability
4%Net margin21%
25%Operating margin39%
7%Return on equity10%
4%Return on assets5%
Growth
24%Revenue growth (YoY)379%
Avg. growth/yr (3Y)-13.6%
Avg. growth/yr (5Y)12.7%
Balance & size
0.45×Debt / equity1.10×
$6BMarket cap$25B
mixedGrowth qualityexpensive

PT Amman Mineral Internasional leads: 4 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

PT Merdeka Battery Materialsof which business quality 38 · market factors 48 PT Amman Mineral Internasionalof which business quality 25 · market factors 33
ProfitabilityMargins and returns on capital today
18
25
Quality GrowthAre margins and returns improving?
38
5
CashflowEarnings quality: real cash, not paper profit
18
0
Fin. StrengthBalance sheet, leverage, solvency risk
59
46
InvestmentDisciplined investing over empire-building
22
9
Low VolatilityCalm price path (market factor)
46
50
MomentumPrice trend over the last 3–12 months (market factor)
46
33
52W MomentumDistance to the 52-week high (market factor)
54
14
Net IssuanceBuybacks instead of dilution
81
65

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

PT Merdeka Battery Materials

Earnings-BasedIDR 82
MultiplesIDR 82
Asset-BasedIDR 82
Economic ProfitIDR 82

7 of 7 models see the stock below the current price.

PT Amman Mineral Internasional

Earnings-BasedIDR 511
MultiplesIDR 1,021
Asset-BasedIDR 851
Economic ProfitIDR 766
Growth EarningsIDR 681

11 of 11 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

PT Merdeka Battery Materials
Bear IDR 62Fair Value IDR 82Bull IDR 103
IDR 570 = current price (white tick)
PT Amman Mineral Internasional
Bear IDR 766Fair Value IDR 1,021Bull IDR 1,277
IDR 4,450 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

PT Merdeka Battery Materials · Materials

Quality score39 · below median
Fair value upside-86% · bottom 25%

PT Amman Mineral Internasional · Materials

Quality score26 · bottom 25%
Fair value upside-77% · bottom 25%

Bottom line

As of Aug 27, 2026, Fair Value Calculator sees PT Amman Mineral Internasional as the less overvalued of the two: PT Merdeka Battery Materials trades at IDR 570 versus a fair value of IDR 82 (-86%), while PT Amman Mineral Internasional trades at IDR 4,450 versus IDR 1,021 (-77%).

PT Merdeka Battery Materials has the higher quality score (39/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.