Resource Alam Indonesia Tbk (KKGI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Resource Alam Indonesia Tbk stock IDR 454, price IDR 284, upside +60.0%, quality 42 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 143.06 IDR – 564.79 IDR · fair‑value band 423.57 IDR – 497.42 IDR · the 284.00 IDR price screens below the 454.40 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 Resource Alam Indonesia Tbk, together with its subsidiaries, engages in the coal mining business in Indonesia and internationally. It operates through Coal, Electricity, Nickel Ore Trade, Mining Service, Property, and Others segments.
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The company offers high-pressure laminates (HPL) and decorative sheets; and mining and excavation support services.
It also engages in the sale of melamine laminated particle boards; development and operation of mini hydro power plants; ownership, development, and management of residential, commercial, and retail spaces; excavation of quartz; leasing of mining machinery and equipment; electricity supply; wholesale of fuel solid, liquid gas, and other products; and trading, real estate, and industrial activities.
The company exports its products. The company was formerly known as PT Kurnia Kapuas Utama Tbk and changed its name to PT Resource Alam Indonesia Tbk in December 2003. PT Resource Alam Indonesia Tbk was founded in 1981 and is headquartered in Jakarta Pusat, Indonesia.
Stock analysis
Resource Alam Indonesia Tbk (KKGI) currently trades at 284.00 IDR, while our model-based Fair Value estimate is 454.40 IDR, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 349.45 IDR per share, and 7 of the 16 models we run sit above the 284.00 IDR price.
Bear case: the Growth Earnings group reads lowest at 118.57 IDR, and 9 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 423.57 IDR (bear) to 497.42 IDR (bull), the price of 284.00 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 42/100 (below-average quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Resource Alam Indonesia Tbk reported revenue of $153M in FY2025 versus $132M in FY2021, a compound +3.8%/yr. Reported net income was $2.4M in FY2025, compounding −43.1%/yr from FY2021.
Key figures
Market cap 1.4T IDR (≈ $75.5M) Micro · P/E ratio 22.4 · P/S ratio 0.35 · EPS (TTM) 12.67 IDR · Dividend yield 12.7% · Net margin 1.6% · Return on equity 1.9% · Return on assets (EBIT) 22.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 35% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −25% fair-value upside, at 60%, KKGI screens cheaper than that median.
Fair Value models
Bear423.57 IDRFair Value 454.40 IDRBull497.42 IDR
Price 284.00 IDR · Upside +60.0%
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.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.
Best data coverage
EPV212.43 IDR218.77 IDR223.76 IDR74
Residual Income278.76 IDR299.05 IDR327.36 IDR74
ROIC Compounder212.43 IDR218.77 IDR223.76 IDR70
All 16 models by family
Earnings-Based
Graham-Dodd60.83 IDR235.30 IDR319.03 IDR62
Lynch FV57.61 IDR82.30 IDR106.99 IDR59
PEG = 1.057.61 IDR82.30 IDR106.99 IDR55
EPV212.43 IDR218.77 IDR223.76 IDR74
Dividend Discount
Gordon GGM215.64 IDR331.77 IDR405.73 IDR67
DDM Multi-Stage215.64 IDR327.56 IDR359.12 IDR65
Multiples
P/E Multiple93.93 IDR125.24 IDR156.55 IDR63
P/S Multiple114.06 IDR152.08 IDR190.10 IDR58
P/B Multiple744.81 IDR993.08 IDR1,241 IDR55
EV/EBIT300.78 IDR352.88 IDR404.97 IDR66
EV/EBITDA295.64 IDR346.02 IDR396.40 IDR67
EV/Revenue334.12 IDR415.39 IDR496.66 IDR54
Asset-Based
NCAV (Graham)132.54 IDR200.82 IDR251.03 IDR54
Economic Profit
Residual Income278.76 IDR299.05 IDR327.36 IDR74
ROIC Compounder212.43 IDR218.77 IDR223.76 IDR70
Growth Earnings
Growth-Adj P/E83.00 IDR118.57 IDR154.14 IDR65
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−53.1%
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.
−15.6%
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.
+16.2%
Start year 2020 (pandemic). Over 10 years: +3.3% a year
Revenue growth 25 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.
−24.5%
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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.
−17.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−29.8%
Dividend (yield on the price)12.7%
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.−29.8% vs −10.9%, slowing
Profit margin 2020 to 2025 ⓘ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.−2% → 4%
Compare Resource Alam Indonesia Tbk with another stock
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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.Thermal Coal · 82 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside+60.0% · Top 25%
Profitability
Return on equity (12 months)1.9% · Below median
Return on assets1.3% · Below median
Net margin (12 months)2.3% · Below median
Operating margin (12 months)10.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)12.4% · Above median
Dividend yield (12 months)12.7% · Top 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Thermal Coal median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Resource Alam Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/KKGI
Frequently asked questions
Is Resource Alam Indonesia Tbk (KKGI) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 454.40 IDR versus a price of 284.00 IDR, about +60% upside (undervalued).
What is the fair value of KKGI?
Our model-based fair value for Resource Alam Indonesia Tbk is 454.40 IDR (as of Nov 7, 2026), built from audited fundamentals. The current price: 284.00 IDR.
What is the quality score of KKGI?
Resource Alam Indonesia Tbk has a Quality Score of 42/100. 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 Resource Alam Indonesia Tbk (KKGI)?
Our model-based price target is the fair value of 454.40 IDR (as of Nov 7, 2026) from 16 valuation models. Cautious scenario 423.57 IDR, optimistic scenario 497.42 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Resource Alam Indonesia Tbk stock forecast for 2026?
Our models put fair value at 454.40 IDR, about +60% upside versus a price of 284.00 IDR (undervalued). Cautious scenario 423.57 IDR, optimistic scenario 497.42 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Resource Alam Indonesia Tbk (KKGI)?
Resource Alam Indonesia Tbk reported trailing-twelve-month revenue of about $152M (latest available figure, as of Nov 7, 2026).
Does Resource Alam Indonesia Tbk pay a dividend?
Resource Alam Indonesia Tbk currently shows a dividend yield of 12.68% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Resource Alam Indonesia Tbk (KKGI) and when is the ex-dividend date?
Resource Alam Indonesia Tbk pays a dividend of 36.01 IDR per share a year, a dividend yield of 12.7%. The last ex-dividend date was Sep 24, 2026. A dividend has been paid every year since 2020. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What is the intrinsic value of Resource Alam Indonesia Tbk (KKGI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Resource Alam Indonesia Tbk it is 454.40 IDR per share (as of Nov 7, 2026), against a price of 284.00 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 Resource Alam Indonesia Tbk stock overvalued or undervalued in 2026?
As of Nov 7, 2026, KKGI trades below its calculated fair value: price 284.00 IDR, fair value 454.40 IDR, a gap of about +60% (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 KKGI?
No. The price is what the market pays today (284.00 IDR); the fair value is what the company's own numbers justify (454.40 IDR). For Resource Alam Indonesia Tbk the two are 170.40 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Resource Alam Indonesia Tbk worth?
The market values Resource Alam Indonesia Tbk at about 1.4T IDR (market capitalisation, as of Nov 7, 2026). Per share that is 284.00 IDR; our models calculate a fair value of 454.40 IDR per share.
What do the bullish and bearish scenarios say about KKGI?
Our models span a range for Resource Alam Indonesia Tbk: cautious scenario 423.57 IDR, base 454.40 IDR, optimistic 497.42 IDR per share (as of Nov 7, 2026, price 284.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KKGI?
Resource Alam Indonesia Tbk trades at a price-to-earnings ratio of 22.4 (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 454.40 IDR is built from several models across several years. Other multiples: PEG 0.1, P/B 0.5, P/S 0.5, EV/EBITDA 2.6.
What is the PEG ratio of KKGI?
The PEG ratio of Resource Alam Indonesia Tbk is 0.11 (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 Resource Alam Indonesia Tbk (KKGI)?
Balance-sheet figures for Resource Alam Indonesia Tbk (as of Nov 7, 2026): return on equity 1.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is KKGI from its 52-week high?
Resource Alam Indonesia Tbk trades at 284.00 IDR, about 23% below its 52-week high of 366.68 IDR and 35% above the low of 210.08 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 454.40 IDR is for.
Which stocks are comparable to Resource Alam Indonesia Tbk?
From the same area (Energy) we also value China Shenhua Energy Company, Shaanxi Coal Industry Company, Adani Enterprises Limited, China Coal Energy Company, 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 Resource Alam Indonesia Tbk stock attractive at the current price?
The data as of Nov 7, 2026: price 284.00 IDR, calculated fair value 454.40 IDR (+60%), Quality Score 42/100, 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 KKGI calculated?
We run Resource Alam Indonesia Tbk 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 454.40 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 13.3% above its aggregate fair value. Resource Alam Indonesia Tbk currently trades 38% 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 Resource Alam Indonesia Tbk (KKGI)?
The closing price on Nov 6, 2026 was 284.00 IDR. Our model-based fair value is 454.40 IDR, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Resource Alam Indonesia Tbk right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (423.57 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 Resource Alam Indonesia Tbk (KKGI) come from?
Earnings per share at Resource Alam Indonesia Tbk grew +13.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.9 %, EBIT margin +3.1 %, tax rate +0.4 %, residual (interest, one-offs) −0.5 %. 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 Resource Alam Indonesia Tbk
How large is the market capitalisation of Resource Alam Indonesia Tbk (KKGI)?
The market capitalisation of Resource Alam Indonesia Tbk is 1.4T IDR (≈ $75.5M). 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 Resource Alam Indonesia Tbk (KKGI)?
The price-to-sales ratio of Resource Alam Indonesia Tbk is 0.35 (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 Resource Alam Indonesia Tbk (KKGI)?
Earnings per share at Resource Alam Indonesia Tbk are 12.67 IDR (price ÷ EPS = P/E 22.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Resource Alam Indonesia Tbk (KKGI)?
The dividend yield of Resource Alam Indonesia Tbk is 12.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Resource Alam Indonesia Tbk (KKGI)?
The net margin of Resource Alam Indonesia Tbk is 1.6% (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 Resource Alam Indonesia Tbk (KKGI)?
The return on equity (ROE) of Resource Alam Indonesia Tbk is 1.9% (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 Resource Alam Indonesia Tbk (KKGI)?
On an EBIT basis the return on assets of Resource Alam Indonesia Tbk is 22.8% (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 Resource Alam Indonesia Tbk (KKGI)?
The operating margin of Resource Alam Indonesia Tbk is 10.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Resource Alam Indonesia Tbk (KKGI)?
Revenue at Resource Alam Indonesia Tbk is growing +12.4% versus a year earlier (3y avg −15.6%). 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 Resource Alam Indonesia Tbk (KKGI)?
Earnings per share at Resource Alam Indonesia Tbk are growing +10.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Resource Alam Indonesia Tbk (KKGI) generate?
The free cash flow of Resource Alam Indonesia Tbk is −$12.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Resource Alam Indonesia Tbk (KKGI) hold?
Resource Alam Indonesia Tbk holds more cash than debt, $39.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026