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PT Ateliers Mecaniques D'Indonesie Tbk (AMIN) Fair Value & Analysis

Industrials · ID · Market cap 261B IDR

PA PT Ateliers Mecaniques D'Indonesie Tbk AMIN · JK
Price246.00 IDR
Fair Value463.89 IDR
Upside+88.6%
Quality75/100
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Mixed Growth
Thin margins · 7.5% net margin
Low debt · generates free cash flow
Ranks above peers (8/10)
Moderate moat 49/100
Evidence: High Range 355.84 IDR – 571.95 IDR Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

Share price +0.8% over the past month.

A strong business, screening 89% undervalued on our models.

What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (355.84 IDR). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

282.86 IDR 82.73 IDR Fair Value 463.89 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 82.73 IDR – 282.86 IDR · fair‑value band 355.84 IDR – 571.95 IDR · the 246.00 IDR price screens below the 463.89 IDR fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

PT Ateliers Mecaniques D'Indonesie Tbk (AMIN) currently trades at 246.00 IDR, while our model-based Fair Value estimate is 463.89 IDR, implying the stock looks roughly 88.6% undervalued today. The Quality Score stands at 75/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, PT Ateliers Mecaniques D'Indonesie Tbk generated revenue of 331B IDR at a net margin of 7.5%. Revenue declined 38.5% year over year. It earns a return on equity of 12.8%. The balance sheet holds a net cash position of 34.2B IDR. Fundamentals as of Jul 18, 2026

Our scenario range runs from 355.84 IDR (bear case) to 571.95 IDR (bull case); at 246.00 IDR, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high and 80% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 89%, AMIN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF 887.78 IDR 1,547 IDR 2,718 IDR 80
Residual Income 175.06 IDR 217.81 IDR 521.74 IDR 76
Rev-Margin DCF 482.05 IDR 721.43 IDR 1,027 IDR 74
All 24 models by family
DCF Models
FCF DCF 887.71 IDR 1,582 IDR 2,821 IDR 38
Owner Earnings 389.99 IDR 680.08 IDR 1,198 IDR 31
5Y Revenue Exit 482.05 IDR 717.18 IDR 1,018 IDR 39
5Y EBITDA Exit 504.57 IDR 762.89 IDR 1,071 IDR 41
5Y P/E Exit 531.68 IDR 817.91 IDR 1,133 IDR 38
10Y Revenue Exit 598.83 IDR 866.25 IDR 1,242 IDR 36
10Y EBITDA Exit 623.47 IDR 900.22 IDR 1,287 IDR 37
10Y P/E Exit 641.74 IDR 941.11 IDR 1,339 IDR 35
Earnings-Based
Graham-Dodd 158.45 IDR 694.89 IDR 950.92 IDR 54
Lynch FV 179.42 IDR 256.31 IDR 333.21 IDR 50
PEG = 1.0 179.42 IDR 256.31 IDR 333.21 IDR 46
EPV 278.87 IDR 322.26 IDR 360.84 IDR 59
Multiples
P/E Multiple 366.99 IDR 489.33 IDR 611.66 IDR 63
P/S Multiple 297.09 IDR 396.12 IDR 495.15 IDR 58
P/B Multiple 297.09 IDR 396.12 IDR 495.15 IDR 55
EV/EBIT 410.36 IDR 536.16 IDR 661.96 IDR 53
EV/EBITDA 357.14 IDR 465.20 IDR 573.25 IDR 54
EV/Revenue 302.33 IDR 417.76 IDR 533.20 IDR 43
Asset-Based
NCAV (Graham) 91.16 IDR 122.15 IDR 182.32 IDR 50
Growth DCF
Growth DCF 887.78 IDR 1,547 IDR 2,718 IDR 80
Rev-Margin DCF 482.05 IDR 721.43 IDR 1,027 IDR 74
Economic Profit
Residual Income 175.06 IDR 217.81 IDR 521.74 IDR 76
ROIC Compounder 311.12 IDR 416.18 IDR 559.61 IDR 72
Growth Earnings
Growth-Adj P/E 296.34 IDR 423.34 IDR 550.34 IDR 68

Widest divergence: DCF Models (817.91 IDR) versus Asset-Based (122.15 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 331B IDR
Revenue growth (YoY) -38.5%
Net margin 7.5%
Return on equity 12.8%
Free cash flow 69.2B IDR FY2026
Operating margin 9.5%
More key figures
EPS (TTM) -15.73 IDR
EPS growth (YoY) -5.0%
Net cash 34.2B IDR FY2026

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 74 · Market factors (momentum, volatility) 52

Profitability 55
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PT Ateliers Mecaniques D'Indonesie Tbk engages in the design, manufacture, and erection of boilers in Indonesia, Cameroon, Nigeria, Congo, the Republic of Cote d'Ivoire, Papua New Guinea, Malaysia, Liberia, and Sao Tome and Principe.

Full company description

PT Ateliers Mecaniques D'Indonesie Tbk engages in the design, manufacture, and erection of boilers in Indonesia, Cameroon, Nigeria, Congo, the Republic of Cote d'Ivoire, Papua New Guinea, Malaysia, Liberia, and Sao Tome and Principe. The company offers solid fuel membrane wall boilers, solid fuel brick wall boilers, combi boilers, and firetube boilers, as well as horizontal and vertical sterilizers, sterilizer doors, and deaerators. It also provides air-preheaters, economizers, dust collectors, and superheaters; and boiler repair and modification, technical services, service contracts, replacement of parts, and marketing services. The company was founded in 1972 and is headquartered in Deli Serdang, Indonesia. PT Ateliers Mecaniques D'Indonesie Tbk operates as a subsidiary of Sphere Corporation SDN BHD.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

PT Ateliers Mecaniques D'Indonesie Tbk reported revenue of 366B IDR in FY2026 versus 182B IDR in FY2022, a compound +19.0%/yr. Reported net income was 25.2B IDR in FY2026, compounding +60.2%/yr from FY2022.

Growth Quality 89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
366B IDR
Latest YoY
−0.3%
Avg. growth/yr (3Y) 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.
+18.9%
Avg. growth/yr (5Y) 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.
+23.1%
Avg. growth/yr (11Y) 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.
+13.5%
Revenue +19.0%/yr
FY22 182B IDR
FY23 218B IDR
FY24 337B IDR
FY25 367B IDR
FY26 366B IDR
Net income +60.2%/yr
FY22 3.8B IDR
FY23 7.9B IDR
FY24 15.5B IDR
FY25 18.2B IDR
FY26 25.2B IDR
Character of growth · EPS growth decomposed (2015-2026) −7.0 % p.a.
Revenue per share +2.5 pp

of which total revenue +10.0 pp · buybacks/dilution −7.4 pp

EBIT margin −10.5 pp
Tax rate +2.4 pp
Residual (interest, one-offs) −1.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "PT Ateliers Mecaniques D'Indonesie Tbk Fair Value". https://www.fairvalue-calculator.com/stock/AMIN

Peer Group

Specialty Industrial Machinery · 808 stocks

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.

Quality Score 75 · Top 25%
Fair Value upside +89% · Top 25%
Return on equity (TTM) 13% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth -39% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 0 · sector 23
PAST 51 · sector 28
HEALTH 100 · sector 96
DIVIDEND 0 · sector 24

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is PT Ateliers Mecaniques D'Indonesie Tbk (AMIN) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 463.89 IDR versus a price of 246.00 IDR, about +89% (undervalued).
What is the fair value of AMIN?
Our model-based fair value for PT Ateliers Mecaniques D'Indonesie Tbk is 463.89 IDR (as of Jul 18, 2026), built from audited fundamentals. The current price is 246.00 IDR.
What is the quality score of AMIN?
PT Ateliers Mecaniques D'Indonesie Tbk has a Quality Score of 75/100. 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 revenue of PT Ateliers Mecaniques D'Indonesie Tbk (AMIN)?
PT Ateliers Mecaniques D'Indonesie Tbk reported trailing-twelve-month revenue of about 331B IDR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of AMIN?
The net profit margin of PT Ateliers Mecaniques D'Indonesie Tbk is about 7.5%, meaning it keeps roughly 7.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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