Aneka Tambang (Persero) TBK (PT) (ATM) fair value: what the stock is really worth
We calculate from audited financials what Aneka Tambang (Persero) TBK (PT) is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Basic Materials · AU · Market cap A$4.3B (≈ $3.1B) · ISIN AU000000ATM8
At a glance
ATAneka Tambang (Persero) TBK (PT)ATM · AU
PriceA$0.9200
Fair ValueA$0.8925
Upside−3.0%
Quality73/100
A solid business, currently priced close to our fair value of A$0.8925.
As of Sep 8, 2026, the fair value of Aneka Tambang (Persero) TBK (PT) is A$0.8925 per share against a price of A$0.9200, so the fair value sits 3% below the price. A model estimate from reported figures, not an analyst target.
!Mixed Growth (revenue 5y +26.6 %/yr)
!Thin margins · 9.7% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (6/10)
✓Wide moat 68/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 29 out of 100
Evidence: LowRange A$0.5565 to A$1.59
Fair value as of: Sep 8, 2026
From 24 valuation models · updated yesterday
Fair value updated Sep 8, 2026, revised from A$2.55 to A$0.8925 (−65.0%) since Aug 28, 2026.
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69 individual criteria per stock, every one traceable See the method →
What matters now
The model range is unusually wide (A$0.5565 to A$1.59). The outcome hinges heavily on assumptions, so read the point estimate with caution.
The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 8, 2026.
How to read this chart
60‑month range A$0.7045 – A$1.08 · fair‑value band A$0.5565 – A$1.59 · the A$0.9200 price screens above the A$0.8925 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 8, 2026.
Aneka Tambang (Persero) TBK (PT) (ATM) currently trades at A$0.9200, while our model-based Fair Value estimate is A$0.8925, implying the stock looks roughly 3.1% fairly valued today. The Quality Score stands at 73/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of A$7.47 per share, and 23 of the 24 models we run sit above the A$0.9200 price. Bear case: the Asset-Based group reads lowest at A$0.5695, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Aneka Tambang (Persero) TBK (PT) generated revenue of 35.3T IDR at a net margin of 9.7%. Revenue grew 12.1% year over year. It earns a return on equity of 24.7%. The balance sheet holds a net cash position of 3.9T IDR. Fundamentals as of Sep 8, 2026
Scenario range: A$0.5565 (bear) to A$1.59 (bull), the price of A$0.9200 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 23% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −12% fair-value upside, at −3%, ATM screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (A$0.0828 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio7.7
P/S ratio0.62P/E × margin
EPS (TTM)A$0.1200price ÷ EPS = P/E 7.7
Net margin8.1%FY2025
Return on equity24.7%TTM
Return on assets (EBIT)9.2%avg 5y
More key figures
Growth
Revenue (TTM)35.3T IDRTTM
Revenue growth (YoY)+12.1%3y avg +24.6%
EPS growth (YoY)+59.9%
Balance sheet & cash flow
Free cash flow4.2T IDRFY2025
Net cash3.9T IDRFY2025
Figures from reported company fundamentals · as of Sep 8, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality73/100
Of which business quality 70
· Market factors (momentum, volatility) 48
Profitability69
Margins and returns on capital today
Quality Growth98
Are margins and returns improving?
Cashflow40
Earnings quality: real cash, not paper profit
Fin. Strength88
Balance sheet, leverage, solvency risk
Investment49
Disciplined investing over empire-building
Low Volatility75
Calm price path (market factor)
Momentum36
Price trend over the last 3–12 months (market factor)
52W Momentum36
Distance to the 52-week high (market factor)
Net Issuance82
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
PT Antam (Persero) Tbk operates as a diversified metals and mining company in Indonesia. The company operates through three segments: Nickel, Precious Metals and Refinery, and Bauxite and Alumina. The company is involved in the exploration, excavation, processing, and marketing of alumina, nickel ore, ferronickel, gold, silver, bauxite, and coal.
Full company description
PT Antam (Persero) Tbk operates as a diversified metals and mining company in Indonesia. The company operates through three segments: Nickel, Precious Metals and Refinery, and Bauxite and Alumina. The company is involved in the exploration, excavation, processing, and marketing of alumina, nickel ore, ferronickel, gold, silver, bauxite, and coal. It also engages in construction, trading, industry, mining, agriculture, printing, and ground transportation businesses; and provision of industrial area management services. In addition, the company exports its products. The company was formerly known as PT Aneka Tambang Tbk and changed its name to PT Antam (Persero) Tbk in February 2026. The company was incorporated in 1968 and is headquartered in Jakarta, Indonesia. PT Antam (Persero) Tbk operates as a subsidiary of PT Mineral Industri Indonesia (Persero).
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Aneka Tambang (Persero) TBK (PT) reported revenue of 88.9T IDR in FY2025 versus 38.4T IDR in FY2021, a compound +23.3%/yr. Reported net income was 7.2T IDR in FY2025, compounding +40.3%/yr from FY2021.
Growth Quality 82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
88.9T IDR
Latest YoY
+28.4%
Avg. revenue 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.
+24.6%
Avg. revenue 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.
+26.6%
Avg. revenue growth/yr (26Y) ⓘ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.
+22.9%
Value creation/yr (5Y, in IDR) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +4.6%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+4.6%
Dividend yield0.0%
Trend ⓘ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.5Y 4.6% vs 10Y 60.2%, flattening
Operating margin (EBIT) ⓘ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.7.4% (2020) → 7.9% (2025) · steady
Worst earnings drop1,501% (2015) (loss year, drop beyond 100%) · in IDR
⚠ Revenue per share shrinking 3.6%/yr over ~10Y (margin trend unclear) ⓘ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.
⚠ Final year 2025 sits 98% above trend (one-off), rate approximate
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.
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.
Valuation
Quality Score73 · Top 25%
Fair Value upside−3% · Top 25%
Profitability
Return on equity (TTM)25% · Above median
Return on assets11% · Above median
Net margin (TTM)10% · Above median
Operating margin (TTM)0% · Below median
Growth and dividend
Revenue growth12% · Below median
Balance sheet
Debt / equity0.08× · Above median
Valuation Multiples vs Gold median · lower = cheaper
P/E (TTM)7.7× · Cheapest 25%
P/FCF0.0× · Cheapest 25%
PEG3.02× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Aneka Tambang (Persero) TBK (PT) deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+21.9 % per year
Achieved revenue growth, 5 years+26.6 % p.a.
Sector median revenue growth+3.4 %
FCF yield on price1.48 %
Discount rate (WACC) in the models8.8 %
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
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.
This stockSector peers
VALUE29· sector 0
FUTURE61· sector 100
PAST99· sector 0
HEALTH96· sector 98
DIVIDEND0· sector 21
Insider activity: 45/100
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
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Is Aneka Tambang (Persero) TBK (PT) (ATM) overvalued or undervalued?
As of Sep 8, 2026, our model estimates a fair value of A$0.8925 versus a price of A$0.9200, about −3% upside (fairly valued).
What is the fair value of ATM?
Our model-based fair value for Aneka Tambang (Persero) TBK (PT) is A$0.8925 (as of Sep 8, 2026), built from audited fundamentals. The current price: A$0.9200.
What is the quality score of ATM?
Aneka Tambang (Persero) TBK (PT) has a Quality Score of 73/100. 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 Aneka Tambang (Persero) TBK (PT) (ATM)?
Our model-based price target is the fair value of A$0.8925 (as of Sep 8, 2026) from 24 valuation models. Cautious scenario A$0.5565, optimistic scenario A$1.59. It is a calculation from audited fundamentals, not an analyst target.
What is the Aneka Tambang (Persero) TBK (PT) stock forecast for 2026?
Our models put fair value at A$0.8925, about −3% upside versus a price of A$0.9200 (fairly valued). Cautious scenario A$0.5565, optimistic scenario A$1.59. The calculation is refreshed regularly with new filings.
What is the revenue of Aneka Tambang (Persero) TBK (PT) (ATM)?
Aneka Tambang (Persero) TBK (PT) reported trailing-twelve-month revenue of about 35.3T IDR (latest available figure, as of Sep 8, 2026).
What is the net profit margin of ATM?
The net profit margin of Aneka Tambang (Persero) TBK (PT) is about 9.7%, meaning it keeps roughly 9.7% of revenue as net income. Based on the latest reported figures.
What growth is priced into Aneka Tambang (Persero) TBK (PT) (ATM)?
For today's price to be fair in a discounted-cash-flow model, Aneka Tambang (Persero) TBK (PT) would have to grow free cash flow by +21.9 % per year for ten years (discount rate 8.8 %, then 2 % perpetual growth). Over the last 5 years revenue grew +26.6 % per year. As of Sep 8, 2026.
What discount rate (WACC) does the fair value of ATM use?
Our models discount Aneka Tambang (Persero) TBK (PT) at 8.8 %: a base by market capitalisation (mid), damped by beta 0.72, country premium for Australia. The same rate applies in all 26 models.
What is the intrinsic value of Aneka Tambang (Persero) TBK (PT) (ATM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aneka Tambang (Persero) TBK (PT) it is A$0.8925 per share (as of Sep 8, 2026), against a price of A$0.9200. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Aneka Tambang (Persero) TBK (PT) stock overvalued or undervalued in 2026?
As of Sep 8, 2026, ATM trades above its calculated fair value: price A$0.9200, fair value A$0.8925, a gap of about −3% (fairly valued). 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 ATM?
No. The price is what the market pays today (A$0.9200); the fair value is what the company's own numbers justify (A$0.8925). For Aneka Tambang (Persero) TBK (PT) the two are A$0.0275 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aneka Tambang (Persero) TBK (PT) worth?
The market values Aneka Tambang (Persero) TBK (PT) at about A$4.3B (market capitalisation, as of Sep 8, 2026). Per share that is A$0.9200; our models calculate a fair value of A$0.8925 per share.
What do the bullish and bearish scenarios say about ATM?
Our models span a range for Aneka Tambang (Persero) TBK (PT): cautious scenario A$0.5565, base A$0.8925, optimistic A$1.59 per share (as of Sep 8, 2026, price A$0.9200). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ATM?
Aneka Tambang (Persero) TBK (PT) trades at a price-to-earnings ratio of 7.7 (as of Sep 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$0.8925 is built from several models across several years. Other multiples: PEG 3.0.
What is the PEG ratio of ATM?
The PEG ratio of Aneka Tambang (Persero) TBK (PT) is 3.02 (P/E divided by earnings growth, as of Sep 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Aneka Tambang (Persero) TBK (PT) (ATM)?
Balance-sheet figures for Aneka Tambang (Persero) TBK (PT) (as of Sep 8, 2026): return on equity 24.7%, debt of 0.08 per unit of equity. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is ATM from its 52-week high?
Aneka Tambang (Persero) TBK (PT) trades at A$0.9200, about 23% below its 52-week high of A$1.20 and 21% above the low of A$0.7613 (as of Sep 8, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.8925 is for.
Which stocks are comparable to Aneka Tambang (Persero) TBK (PT)?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Barrick Mining Corporation, 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 Aneka Tambang (Persero) TBK (PT) stock attractive at the current price?
The data as of Sep 8, 2026: price A$0.9200, calculated fair value A$0.8925 (−3%), Quality Score 73/100, from 24 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 ATM calculated?
We run Aneka Tambang (Persero) TBK (PT) through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.8925, with the spread shown as a cautious and an optimistic scenario.
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