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Sumber Energi Andalan Tbk PT (ITMA) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Sumber Energi Andalan Tbk PT IDR 2,256, price IDR 1,390, upside +62.3%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Basic Materials · ID · ISIN ID1000089105

SE Thin data Sep 24, 2026

Sumber Energi Andalan Tbk PT

ITMA · JK

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 2,256 IDR · Strongly undervalued (+62%)
!Quality 40/100
!Mixed Growth (revenue 5y +81.3 %/yr)
✓Highly profitable · 81.0% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (8/11)
!Narrow moat 35/100
!Evidence only low, so the estimate is less certain
!Weak on past: 4 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

2,780 IDR 380.00 IDR Fair Value 2,256 IDR Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 380.00 IDR – 2,780 IDR · fair‑value band 1,579 IDR – 2,256 IDR · the 1,390 IDR price screens below the 2,256 IDR fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

PT Sumber Energi Andalan Tbk provides trading, import and export, consulting, and contract services to the mining and energy sectors.

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PT Sumber Energi Andalan Tbk provides trading, import and export, consulting, and contract services to the mining and energy sectors. It also acts as a contractor in Engineering Procurement Construction (EPC); provides integrated construction services, including planning, procurement, and execution as well as construction for works in the field of power generation and in other energy-related fields; and acts a contractor for Operation & Maintenance (O&M) and providing operation and maintenance services for power plants. In addition, the company provides consultancy services for the mining industry, including construction and development planning for the general mining industry, as well as related business activities, including the maintenance of mining equipment; oil and gas mining, geothermal and energy conservation, coal, lignite and anthracite, and related business activities; provides consultancy services for activities related to power plant sector, including consultation for operational and maintenance activities; acts as an investor in Independent Power Producer (IPP); conducts investment activities in the field of private power generation; and trading in the energy and agricultural commodities sector. The company was formerly known as PT Itamaraya Tbk and changed its name to PT Sumber Energi Andalan Tbk in June 2010. PT Sumber Energi Andalan Tbk was founded in 1987 and is headquartered in Jakarta Selatan, Indonesia.

Stock analysis

Sumber Energi Andalan Tbk PT (ITMA) currently trades at 1,390 IDR, while our model-based Fair Value estimate is 2,256 IDR, implying the stock looks roughly 38.4% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 2,474 IDR per share, and 4 of the 8 models we run sit above the 1,390 IDR price.

Bear case: the Multiples group reads lowest at 530.07 IDR, and 4 of the 8 models stay below the price. Evidence for this calculation is low.

Scenario range: 1,579 IDR (bear) to 2,256 IDR (bull), the price of 1,390 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.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Sumber Energi Andalan Tbk PT reported revenue of $2.1M in FY2026 versus $204K in FY2022, a compound +78.8%/yr. Reported net income was $1.7M in FY2026, compounding −38.7%/yr from FY2022.

Key figures

Market cap 1.4T IDR (≈ $77.6M) · P/E ratio 33.6 · P/S ratio 27.9 · EPS (TTM) 41.39 IDR · Net margin 83.0% · Return on equity 1.0% · Return on assets (EBIT) 4.3% · Operating margin −9.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at 62%, ITMA screens cheaper than that median.

Fair Value models

Bear 1,579 IDR Fair Value 2,256 IDR Bull 2,256 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (20.18 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income 2,297 IDR 2,120 IDR 1,237 IDR 68
Growth-Adj P/E 1,060 IDR 1,414 IDR 1,767 IDR 66
P/E Multiple 530.07 IDR 706.77 IDR 883.46 IDR 63
All 9 models by family
Earnings-Based
Graham-Dodd 176.69 IDR 1,414 IDR 2,120 IDR 60
Lynch FV 706.77 IDR 1,060 IDR 1,414 IDR 59
PEG = 1.0 706.77 IDR 1,060 IDR 1,414 IDR 55
Multiples
P/E Multiple 530.07 IDR 706.77 IDR 883.46 IDR 63
P/S Multiple n/a n/a 176.69 IDR 53
P/B Multiple 353.38 IDR 530.07 IDR 706.77 IDR 54
Asset-Based
NCAV (Graham) 1,944 IDR 2,474 IDR 3,887 IDR 53
Economic Profit
Residual Income 2,297 IDR 2,120 IDR 1,237 IDR 68
Growth Earnings
Growth-Adj P/E 1,060 IDR 1,414 IDR 1,767 IDR 66

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Quality Score breakdown

Overall quality 40/100

Of which business quality 39 · Market factors (momentum, volatility) 41

Profitability 28
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 55
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 40
Distance to the 52-week high (market factor)
Net Issuance 63
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+111.2%
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.
+119.2%
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.
+81.3%
Start year 2021 (pandemic). Over 10 years: +31.7% a year
Revenue growth 18 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.
−38.2%
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.
−34.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−34.2%
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.−34% vs −28%, slowing
Profit margin 2021 to 2026 ⓘ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.59% → 25%
Start year 2021 (pandemic)

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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 · 457 stocks

Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 40 · Above median
Fair Value upside +61% · Top 25%
Profitability
Return on equity (TTM) 1% · Above median
Return on assets 0% · Above median
Net margin (TTM) 81% · Top 25%
Operating margin (TTM) −10% · Bottom 25%
Growth and dividend
Revenue growth 15% · Above median
Balance sheet
Debt / equity 0.07× · Below median

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/E (TTM) 33.6× · Priciest 25%
P/B 0.65× · Cheapest 25%
P/S (TTM) 49.79× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)77 · sector 36
PAST (return on equity)4 · sector 0
HEALTH (low debt)97 · sector 96
DIVIDEND (yield)0 · sector 30

Context: sector, industry, market

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

Similar stocks

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Western Mining Co 601168 ¥36.77 ¥40.45 +10%
Korea Zinc Company 010130 1,116,000 KRW 646,063 KRW −42%
Xiamen Tungsten Co 600549 ¥49.34 ¥24.75 −50%
PLS Group PLS A$4.18 A$6.65 +59%
Jinduicheng Molybdenum Co 601958 ¥20.99 ¥12.24 −42%

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Cite: Fair Value Calculator (2026). "Sumber Energi Andalan Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/ITMA

Frequently asked questions

Is Sumber Energi Andalan Tbk PT (ITMA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,256 IDR versus a price of 1,390 IDR, about +62% upside (undervalued).
What is the fair value of ITMA?
Our model-based fair value for Sumber Energi Andalan Tbk PT is 2,256 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,390 IDR.
What is the quality score of ITMA?
Sumber Energi Andalan 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 Sumber Energi Andalan Tbk PT (ITMA)?
Our model-based price target is the fair value of 2,256 IDR (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 1,579 IDR, optimistic scenario 2,256 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Sumber Energi Andalan Tbk PT stock forecast for 2026?
Our models put fair value at 2,256 IDR, about +62% upside versus a price of 1,390 IDR (undervalued). Cautious scenario 1,579 IDR, optimistic scenario 2,256 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Sumber Energi Andalan Tbk PT (ITMA)?
Sumber Energi Andalan Tbk PT reported trailing-twelve-month revenue of about $2.8M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Sumber Energi Andalan Tbk PT (ITMA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sumber Energi Andalan Tbk PT it is 2,256 IDR per share (as of Sep 24, 2026), against a price of 1,390 IDR. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Sumber Energi Andalan Tbk PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ITMA trades below its calculated fair value: price 1,390 IDR, fair value 2,256 IDR, a gap of about +62% (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 ITMA?
No. The price is what the market pays today (1,390 IDR); the fair value is what the company's own numbers justify (2,256 IDR). For Sumber Energi Andalan Tbk PT the two are 866.00 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Sumber Energi Andalan Tbk PT worth?
The market values Sumber Energi Andalan Tbk PT at about 1.4T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 1,390 IDR; our models calculate a fair value of 2,256 IDR per share.
What do the bullish and bearish scenarios say about ITMA?
Our models span a range for Sumber Energi Andalan Tbk PT: cautious scenario 1,579 IDR, base 2,256 IDR, optimistic 2,256 IDR per share (as of Sep 24, 2026, price 1,390 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ITMA?
Sumber Energi Andalan Tbk PT trades at a price-to-earnings ratio of 33.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2,256 IDR is built from several models across several years. Other multiples: P/B 0.7, P/S 49.8.
How solid is the balance sheet of Sumber Energi Andalan Tbk PT (ITMA)?
Balance-sheet figures for Sumber Energi Andalan Tbk PT (as of Sep 24, 2026): return on equity 1.0%, debt of 0.07 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is ITMA from its 52-week high?
Sumber Energi Andalan Tbk PT trades at 1,390 IDR, about 50% below its 52-week high of 2,780 IDR and 32% above the low of 1,050 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 2,256 IDR is for.
Which stocks are comparable to Sumber Energi Andalan Tbk PT?
From the same area (Basic Materials) we also value Vale S.A, Saudi Arabian Mining Company, CMOC Group, China Tungsten And Hightech Materials Co, 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 Sumber Energi Andalan Tbk PT stock attractive at the current price?
The data as of Sep 24, 2026: price 1,390 IDR, calculated fair value 2,256 IDR (+62%), Quality Score 40/100, from 9 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 ITMA calculated?
We run Sumber Energi Andalan Tbk PT through 9 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 2,256 IDR, 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 13.2 % above its aggregate fair value. Sumber Energi Andalan Tbk PT currently trades 62 % 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 Sumber Energi Andalan Tbk PT (ITMA)?
The closing price on Sep 24, 2026 was 1,390 IDR. Our model-based fair value is 2,256 IDR, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sumber Energi Andalan 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 (1,579 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 Sumber Energi Andalan Tbk PT (ITMA) come from?
Earnings per share at Sumber Energi Andalan Tbk PT grew −14.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +16.4 %, EBIT margin −27.1 %, tax rate +0.0 %, residual (interest, one-offs) +0.6 %. 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 Sumber Energi Andalan Tbk PT

How large is the market capitalisation of Sumber Energi Andalan Tbk PT (ITMA)?
The market capitalisation of Sumber Energi Andalan Tbk PT is 1.4T IDR (≈ $77.6M). 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 Sumber Energi Andalan Tbk PT (ITMA)?
The price-to-sales ratio of Sumber Energi Andalan Tbk PT is 27.9 (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 Sumber Energi Andalan Tbk PT (ITMA)?
Earnings per share at Sumber Energi Andalan Tbk PT are 41.39 IDR (price ÷ EPS = P/E 33.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sumber Energi Andalan Tbk PT (ITMA)?
The net margin of Sumber Energi Andalan Tbk PT is 83.0% (fiscal year 2026). 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 Sumber Energi Andalan Tbk PT (ITMA)?
The return on equity (ROE) of Sumber Energi Andalan Tbk PT is 1.0% (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 Sumber Energi Andalan Tbk PT (ITMA)?
On an EBIT basis the return on assets of Sumber Energi Andalan Tbk PT is 4.3% (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 Sumber Energi Andalan Tbk PT (ITMA)?
The operating margin of Sumber Energi Andalan Tbk PT is −9.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sumber Energi Andalan Tbk PT (ITMA)?
Revenue at Sumber Energi Andalan Tbk PT is growing +15.3% versus a year earlier (3y avg +119%). 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 Sumber Energi Andalan Tbk PT (ITMA)?
Earnings per share at Sumber Energi Andalan Tbk PT are growing +537% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sumber Energi Andalan Tbk PT (ITMA) generate?
The free cash flow of Sumber Energi Andalan Tbk PT is −$7.1M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Sumber Energi Andalan Tbk PT (ITMA) carry?
The net debt of Sumber Energi Andalan Tbk PT is $15.9M (fiscal year 2026). 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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