Harum Energy Tbk PT (HRUM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Harum Energy Tbk PT stock IDR 1,101, price IDR 660, upside +66.8%, quality 40 out of 100. Rating: strongly undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 605.00 IDR – 2,676 IDR · fair‑value band 807.38 IDR – 1,431 IDR · the 660.00 IDR price screens below the 1,101 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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PT Harum Energy Tbk, through its subsidiaries, engages in the coal and nickel mining, logistics, and nickel processing and refining activities in Indonesia. It operates through Mining Sectors, Rental and Service Sectors, Nickel Smelter Sector, and Other Sectors segments.
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The company is involved in the coal and nickel mining, including general survey, exploration, exploitation, and sales activities; and coal shipping and handling, tugboat rental, and road hauling operations, as well as nickel smelting and investing business.
It also exports its products to China, Japan, Hong Kong, South Korea, Taiwan, India, Bangladesh, Vietnam, Philippines, Thailand, Norway, and the Netherlands. The company was formerly known as PT Asia Antrasit and changed its name to PT Harum Energy Tbk in December 2016.
The company was incorporated in 1995 and is headquartered in Jakarta Pusat, Indonesia. PT Harum Energy Tbk operates as a subsidiary of PT Karunia Bara Perkasa.
Stock analysis
Harum Energy Tbk PT (HRUM) currently trades at 660.00 IDR, while our model-based Fair Value estimate is 1,101 IDR, implying the stock looks roughly 40% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 3,405 IDR per share, and 14 of the 16 models we run sit above the 660.00 IDR price.
Bear case: the Asset-Based group reads lowest at 684.50 IDR, and 2 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 807.38 IDR (bear) to 1,431 IDR (bull), the price of 660.00 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 40/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Harum Energy Tbk PT reported revenue of $1.3B in FY2025 versus $336M in FY2021, a compound +41.3%/yr. Reported net income was $37.4M in FY2025, compounding −15.7%/yr from FY2021.
Key figures
Market cap 8.9T IDR (≈ $493M) Small · P/E ratio 11.9 · P/S ratio 0.33 · EPS (TTM) 55.45 IDR · Net margin 2.8% · Return on equity 7.2% · Return on assets (EBIT) 16.5% (5-year average) · Operating margin 18.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −8% fair-value upside, at 67%, HRUM screens cheaper than that median.
Fair Value models
Bear807.38 IDRFair Value 1,101 IDRBull1,431 IDR
Price 660.00 IDR · Upside +66.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (47.40 IDR per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+53.4%
Start year 2020 (pandemic)
’14
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−9.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.4%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘ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.base effect: −9.4% / 18.6%
Price, fair value, quality and upside side by side.
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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.Other Industrial Metals & Mining · 371 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score40 · Above median
Fair Value upside+66.8% · Top 25%
Profitability
Return on equity (12 months)7.2% · Above median
Return on assets1.1% · Above median
Net margin (12 months)2.5% · Below median
Operating margin (12 months)18.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)112.0% · Top 25%
Balance sheet
Debt / equity0.53× · Highest 25%
Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Harum Energy Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/HRUM
Frequently asked questions
Is Harum Energy Tbk PT (HRUM) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 1,101 IDR versus a price of 660.00 IDR, about +67% upside (undervalued).
What is the fair value of HRUM?
Our model-based fair value for Harum Energy Tbk PT is 1,101 IDR (as of Nov 7, 2026), built from audited fundamentals. The current price: 660.00 IDR.
What is the quality score of HRUM?
Harum Energy Tbk PT has a Quality Score of 40/100. 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 Harum Energy Tbk PT (HRUM)?
Our model-based price target is the fair value of 1,101 IDR (as of Nov 7, 2026) from 16 valuation models. Cautious scenario 807.38 IDR, optimistic scenario 1,431 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Harum Energy Tbk PT stock forecast for 2026?
Our models put fair value at 1,101 IDR, about +67% upside versus a price of 660.00 IDR (undervalued). Cautious scenario 807.38 IDR, optimistic scenario 1,431 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Harum Energy Tbk PT (HRUM)?
Harum Energy Tbk PT reported trailing-twelve-month revenue of about $1.8B (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Harum Energy Tbk PT (HRUM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Harum Energy Tbk PT it is 1,101 IDR per share (as of Nov 7, 2026), against a price of 660.00 IDR. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Harum Energy Tbk PT stock overvalued or undervalued in 2026?
As of Nov 7, 2026, HRUM trades below its calculated fair value: price 660.00 IDR, fair value 1,101 IDR, a gap of about +67% (undervalued). 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 HRUM?
No. The price is what the market pays today (660.00 IDR); the fair value is what the company's own numbers justify (1,101 IDR). For Harum Energy Tbk PT the two are 441.10 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Harum Energy Tbk PT worth?
The market values Harum Energy Tbk PT at about 8.9T IDR (market capitalisation, as of Nov 7, 2026). Per share that is 660.00 IDR; our models calculate a fair value of 1,101 IDR per share.
What do the bullish and bearish scenarios say about HRUM?
Our models span a range for Harum Energy Tbk PT: cautious scenario 807.38 IDR, base 1,101 IDR, optimistic 1,431 IDR per share (as of Nov 7, 2026, price 660.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HRUM?
Harum Energy Tbk PT trades at a price-to-earnings ratio of 11.9 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,101 IDR is built from several models across several years. Other multiples: PEG 0.3, P/B 0.5, P/S 0.3, EV/EBITDA 2.5.
What is the PEG ratio of HRUM?
The PEG ratio of Harum Energy Tbk PT is 0.28 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Harum Energy Tbk PT (HRUM)?
Balance-sheet figures for Harum Energy Tbk PT (as of Nov 7, 2026): return on equity 7.2%, debt of 0.53 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is HRUM from its 52-week high?
Harum Energy Tbk PT trades at 660.00 IDR, about 49% below its 52-week high of 1,285 IDR and 3% above the low of 640.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,101 IDR is for.
Which stocks are comparable to Harum Energy Tbk PT?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, 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 Harum Energy Tbk PT stock attractive at the current price?
The data as of Nov 7, 2026: price 660.00 IDR, calculated fair value 1,101 IDR (+67%), Quality Score 40/100, from 16 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 HRUM calculated?
We run Harum Energy Tbk PT through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 1,101 IDR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Harum Energy Tbk PT currently trades 40% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Harum Energy Tbk PT (HRUM)?
The closing price on Nov 6, 2026 was 660.00 IDR. Our model-based fair value is 1,101 IDR, about +67% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Harum Energy Tbk PT right now?
The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (807.38 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Harum Energy Tbk PT (HRUM) come from?
Earnings per share at Harum Energy Tbk PT grew +31.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.8 %, EBIT margin +9.7 %, tax rate +3.9 %, residual (interest, one-offs) +0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Harum Energy Tbk PT
How large is the market capitalisation of Harum Energy Tbk PT (HRUM)?
The market capitalisation of Harum Energy Tbk PT is 8.9T IDR (≈ $493M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Harum Energy Tbk PT (HRUM)?
The price-to-sales ratio of Harum Energy Tbk PT is 0.33 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Harum Energy Tbk PT (HRUM)?
Earnings per share at Harum Energy Tbk PT are 55.45 IDR (price ÷ EPS = P/E 11.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Harum Energy Tbk PT (HRUM)?
The net margin of Harum Energy Tbk PT is 2.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Harum Energy Tbk PT (HRUM)?
The return on equity (ROE) of Harum Energy Tbk PT is 7.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Harum Energy Tbk PT (HRUM)?
On an EBIT basis the return on assets of Harum Energy Tbk PT is 16.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Harum Energy Tbk PT (HRUM)?
The operating margin of Harum Energy Tbk PT is 18.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Harum Energy Tbk PT (HRUM)?
Revenue at Harum Energy Tbk PT is growing +112% versus a year earlier (3y avg +14.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Harum Energy Tbk PT (HRUM)?
Earnings per share at Harum Energy Tbk PT are growing +14.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Harum Energy Tbk PT (HRUM) generate?
The free cash flow of Harum Energy Tbk PT is −$703M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Harum Energy Tbk PT (HRUM) carry?
The net debt of Harum Energy Tbk PT is $468M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026