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PT Atlantis Subsea Indonesia Tbk (ATLA) Fair Value & Analysis

Energy · ID · Market cap 310B IDR

PA PT Atlantis Subsea Indonesia Tbk ATLA · JK
Price50.00 IDR
Fair Value10.35 IDR
Upside-79.3%
Quality43/100
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Weak Growth
Thin margins · 4.4% net margin
Low debt · generates free cash flow
Trails peers (2/14)
Narrow moat 34/100
Evidence: High Range 7.67 IDR – 12.78 IDR Share as image

Fair value as of: Jul 20, 2026

From 21 valuation models · updated 21 days ago

Below-average quality, and screening another 79% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (12.78 IDR). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (2 years)

281.57 IDR 48.55 IDR Fair Value 10.35 IDR Apr 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

28‑month range 48.55 IDR – 281.57 IDR · fair‑value band 7.67 IDR – 12.78 IDR · the 50.00 IDR price screens above the 10.35 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

PT Atlantis Subsea Indonesia Tbk (ATLA) currently trades at 50.00 IDR, while our model-based Fair Value estimate is 10.35 IDR, implying the stock looks roughly 79.3% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PT Atlantis Subsea Indonesia Tbk generated revenue of 74.5B IDR at a net margin of 4.4%. Revenue declined 31.6% year over year. It earns a return on equity of 2.0%. The balance sheet holds a net cash position of 13.1B IDR. Fundamentals as of Jul 20, 2026

Our scenario range runs from 7.67 IDR (bear case) to 12.78 IDR (bull case); at 50.00 IDR, the current price sits above 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 49% below its 52-week high, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -79%, ATLA screens richer 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 16.66 IDR 22.12 IDR 31.04 IDR 80
Residual Income 19.60 IDR 18.79 IDR 15.33 IDR 76
Rev-Margin DCF 12.51 IDR 16.87 IDR 21.95 IDR 74
All 21 models by family
DCF Models
FCF DCF 16.09 IDR 21.73 IDR 31.49 IDR 38
5Y Revenue Exit 12.51 IDR 16.63 IDR 22.15 IDR 39
5Y EBITDA Exit 19.56 IDR 28.78 IDR 40.04 IDR 41
5Y P/E Exit 11.54 IDR 14.96 IDR 18.69 IDR 38
10Y Revenue Exit 13.46 IDR 17.35 IDR 21.83 IDR 36
10Y EBITDA Exit 18.16 IDR 25.62 IDR 34.35 IDR 37
10Y P/E Exit 13.09 IDR 16.21 IDR 19.41 IDR 35
Earnings-Based
Graham-Dodd 4.09 IDR 7.68 IDR 9.54 IDR 54
EPV 8.86 IDR 10.01 IDR 11.03 IDR 59
Multiples
P/E Multiple 7.67 IDR 10.22 IDR 12.78 IDR 63
P/S Multiple 7.67 IDR 10.22 IDR 12.78 IDR 58
P/B Multiple 7.67 IDR 10.22 IDR 12.78 IDR 55
EV/EBIT 12.49 IDR 15.87 IDR 19.25 IDR 53
EV/EBITDA 24.42 IDR 31.78 IDR 39.13 IDR 54
EV/Revenue 11.14 IDR 14.90 IDR 18.67 IDR 43
Asset-Based
NCAV (Graham) 13.63 IDR 18.27 IDR 27.27 IDR 50
Growth DCF
Growth DCF 16.66 IDR 22.12 IDR 31.04 IDR 80
Rev-Margin DCF 12.51 IDR 16.87 IDR 21.95 IDR 74
Economic Profit
Residual Income 19.60 IDR 18.79 IDR 15.33 IDR 76
ROIC Compounder 8.86 IDR 10.01 IDR 11.03 IDR 72
Growth Earnings
Growth-Adj P/E 5.53 IDR 7.89 IDR 10.26 IDR 68

Widest divergence: Asset-Based (18.27 IDR) versus Earnings-Based (7.68 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 74.5B IDR
Revenue growth (YoY) -31.6%
Net margin 4.4%
Return on equity 2.0%
Free cash flow 7.9B IDR FY2025
P/E ratio 94.3
More key figures
Operating margin 5.9%
EPS (TTM) 0.5300 IDR
EPS growth (YoY) -40.9%
Net cash 13.1B IDR FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 49 · Market factors (momentum, volatility) 36

Profitability 25
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 40
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 Atlantis Subsea Indonesia Tbk engages in the provision of multi-disciplinary survey support and solutions for the oil and gas, energy and renewable energy, and marine infrastructure sectors in Indonesia.

Full company description

PT Atlantis Subsea Indonesia Tbk engages in the provision of multi-disciplinary survey support and solutions for the oil and gas, energy and renewable energy, and marine infrastructure sectors in Indonesia. It offers post construction support, inspection repair maintenance support, construction support, survey and positioning, geophysical and geotechnical survey, and ROV support services. The company was founded in 2016 and is based in Jakarta Selatan, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Atlantis Subsea Indonesia Tbk reported revenue of 82.1B IDR in FY2025 versus 128B IDR in FY2021, a compound −10.6%/yr. Reported net income was 3.7B IDR in FY2025, compounding −27.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
82.1B IDR
Latest YoY
−3.3%
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.
+8.2%
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.
−10.3%
Revenue −10.6%/yr
FY21 128B IDR
FY22 64.9B IDR
FY23 42.9B IDR
FY24 84.9B IDR
FY25 82.1B IDR
Net income −27.4%/yr
FY21 13.4B IDR
FY22 6.3B IDR
FY23 1.8B IDR
FY24 3.8B IDR
FY25 3.7B IDR

ATLA screens 79% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "PT Atlantis Subsea Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/ATLA

Peer Group

Oil & Gas Equipment & Services · 191 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 43 · Below median
Fair Value upside −79% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth -32% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/E (TTM) 94.3× · Pricier than 75% of peers
P/B 1.83× · Pricier than median
P/S (TTM) 4.16× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 22.7× · Pricier 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 0 · sector 0
FUTURE 0 · sector 0
PAST 8 · sector 28
HEALTH 100 · sector 92
DIVIDEND 0 · sector 31

VALUE 0: the price sits above our fair-value range.

Values & ESG

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

Oil & gas

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

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 533.97 MXN -36%
Baker Hughes Company BKR $55.95 $33.55 -40%
TechnipFMC plc FTI $74.57 $27.57 -63%
Halliburton Company HAL $35.22 $21.50 -39%
Tenaris S.A TS $57.16 $45.68 -20%
Yantai Jereh Oilfield Services Group 002353 ¥138.79 ¥34.17 -75%
Saipem SpA SPM €4.20 €2.72 -35%
Subsea 7 S.A SUBC kr 319.00 kr 227.98 -29%
China Oilfield Services Limited 601808 ¥12.08 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €188.10 €95.01 -49%

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Frequently asked questions

Is PT Atlantis Subsea Indonesia Tbk (ATLA) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 10.35 IDR versus a price of 50.00 IDR, about −79% (overvalued).
What is the fair value of ATLA?
Our model-based fair value for PT Atlantis Subsea Indonesia Tbk is 10.35 IDR (as of Jul 20, 2026), built from audited fundamentals. The current price is 50.00 IDR.
What is the quality score of ATLA?
PT Atlantis Subsea Indonesia Tbk has a Quality Score of 43/100. 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 Atlantis Subsea Indonesia Tbk (ATLA)?
PT Atlantis Subsea Indonesia Tbk reported trailing-twelve-month revenue of about 74.5B IDR (latest available figure, as of Jul 20, 2026).
What is the net profit margin of ATLA?
The net profit margin of PT Atlantis Subsea Indonesia Tbk is about 4.4%, meaning it keeps roughly 4.4% 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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