Emdeki Utama Tbk PT (MDKI) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Emdeki Utama Tbk PT IDR 231, price IDR 194, upside +19.2%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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PT Emdeki Utama Tbk, together with its subsidiaries, produces and sells calcium carbide in Indonesia, Japan, India, the United States, and internationally. It offers air conditioners and services; plastic pallets; and mortars.
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PT Emdeki Utama Tbk, together with its subsidiaries, produces and sells calcium carbide in Indonesia, Japan, India, the United States, and internationally. It offers air conditioners and services; plastic pallets; and mortars. The company is also involved in non-iron base metal manufacturing; ready-mixed concrete; warehousing and storage; and trading of basic materials, chemicals, and other related products. It exports its products. The company was founded in 1981 and is based in Gresik, Indonesia. PT Emdeki Utama Tbk operates as a subsidiary of PT Emde Industri Investama.
Stock analysis
Emdeki Utama Tbk PT (MDKI) currently trades at 194.00 IDR, while our model-based Fair Value estimate is 231.21 IDR, implying the stock looks roughly 16.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 270.30 IDR per share, and 18 of the 23 models we run sit above the 194.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 76.57 IDR, and 5 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 173.41 IDR (bear) to 289.02 IDR (bull), the price of 194.00 IDR sits inside 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 61/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Emdeki Utama Tbk PT reported revenue of 319B IDR in FY2025 versus 397B IDR in FY2021, a compound −5.3%/yr. Reported net income was 34.4B IDR in FY2025, compounding −2.9%/yr from FY2021.
Key figures
Market cap 491B IDR (≈ $27.4M) · P/E ratio 12.6 · P/S ratio 1.35 · EPS (TTM) 15.45 IDR · Dividend yield 4.4% · Net margin 10.8% · Return on equity 3.2% · Return on assets (EBIT) 4.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at 19%, MDKI screens cheaper than that median.
Fair Value models
Bear 173.41 IDRFair Value 231.21 IDRBull 289.02 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 2025 figures (about 9 months old). Earnings retained since then (11.35 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.
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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.3%
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.
−13.1%
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.
−1.8%
Start year 2020 (pandemic). Over 10 years: +0.5% a year
Revenue growth 12 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.
+2.5%
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What shareholders gained per year (last 5 years), in IDR ⓘ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. 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.
+2.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.3%
Dividend (yield on the price)4.4%
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.−2% vs 20%, 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.13% → 11%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−6.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −8.8% a year for the price.
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.Specialty Chemicals · 712 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside+19% · Top 25%
Profitability
Return on equity (TTM)3% · Below median
Return on assets2% · Below median
Net margin (TTM)10% · Above median
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth−3% · Below median
Dividend yield (TTM)4.4% · Top 25%
Valuation Multiplesvs Specialty Chemicals 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). "Emdeki Utama Tbk PT Fair Value". https://www.fairvalue-calculator.com/stock/MDKI
Frequently asked questions
Is Emdeki Utama Tbk PT (MDKI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 231.21 IDR versus a price of 194.00 IDR, about +19% upside (undervalued).
What is the fair value of MDKI?
Our model-based fair value for Emdeki Utama Tbk PT is 231.21 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 194.00 IDR.
What is the quality score of MDKI?
Emdeki Utama Tbk PT has a Quality Score of 61/100. 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 Emdeki Utama Tbk PT (MDKI)?
Our model-based price target is the fair value of 231.21 IDR (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 173.41 IDR, optimistic scenario 289.02 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Emdeki Utama Tbk PT stock forecast for 2026?
Our models put fair value at 231.21 IDR, about +19% upside versus a price of 194.00 IDR (undervalued). Cautious scenario 173.41 IDR, optimistic scenario 289.02 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Emdeki Utama Tbk PT (MDKI)?
Emdeki Utama Tbk PT reported trailing-twelve-month revenue of about 317B IDR (latest available figure, as of Sep 24, 2026).
Does Emdeki Utama Tbk PT pay a dividend?
Emdeki Utama Tbk PT currently shows a dividend yield of about 4.44% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Emdeki Utama Tbk PT (MDKI)?
For today's price to be fair in a discounted-cash-flow model, Emdeki Utama Tbk PT would have to grow free cash flow by -6.4 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MDKI use?
Our models discount Emdeki Utama Tbk PT at 10.5 %: a base by market capitalisation (nano), damped by beta 0.11, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Emdeki Utama Tbk PT that is -6.4 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Emdeki Utama Tbk PT (MDKI) delivered so far?
Over the past 5 years revenue at Emdeki Utama Tbk PT grew -1.8 % a year. The price currently implies -6.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Emdeki Utama Tbk PT (MDKI) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Emdeki Utama Tbk PT (-6.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Emdeki Utama Tbk PT (MDKI)?
The free-cash-flow yield on the price is 7.57 %: that much free cash flow Emdeki Utama Tbk PT produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Emdeki Utama Tbk PT (MDKI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Emdeki Utama Tbk PT it is 231.21 IDR per share (as of Sep 24, 2026), against a price of 194.00 IDR. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Emdeki Utama Tbk PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MDKI trades below its calculated fair value: price 194.00 IDR, fair value 231.21 IDR, a gap of about +19% (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 MDKI?
No. The price is what the market pays today (194.00 IDR); the fair value is what the company's own numbers justify (231.21 IDR). For Emdeki Utama Tbk PT the two are 37.21 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Emdeki Utama Tbk PT worth?
The market values Emdeki Utama Tbk PT at about 491B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 194.00 IDR; our models calculate a fair value of 231.21 IDR per share.
What do the bullish and bearish scenarios say about MDKI?
Our models span a range for Emdeki Utama Tbk PT: cautious scenario 173.41 IDR, base 231.21 IDR, optimistic 289.02 IDR per share (as of Sep 24, 2026, price 194.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MDKI?
Emdeki Utama Tbk PT trades at a price-to-earnings ratio of 12.6 (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 231.21 IDR is built from several models across several years. Other multiples: P/B 0.5, P/S 1.5, EV/EBITDA 5.3.
How solid is the balance sheet of Emdeki Utama Tbk PT (MDKI)?
Balance-sheet figures for Emdeki Utama Tbk PT (as of Sep 24, 2026): return on equity 3.2%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is MDKI from its 52-week high?
Emdeki Utama Tbk PT trades at 194.00 IDR, about 13% below its 52-week high of 222.17 IDR and 20% above the low of 161.40 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 231.21 IDR is for.
Which stocks are comparable to Emdeki Utama Tbk PT?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Emdeki Utama Tbk PT stock attractive at the current price?
The data as of Sep 24, 2026: price 194.00 IDR, calculated fair value 231.21 IDR (+19%), Quality Score 61/100, from 23 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 MDKI calculated?
We run Emdeki Utama Tbk PT through 23 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 231.21 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 14.0 % above its aggregate fair value. Emdeki Utama Tbk PT currently trades 19 % 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 Emdeki Utama Tbk PT (MDKI)?
The closing price on Sep 24, 2026 was 194.00 IDR. Our model-based fair value is 231.21 IDR, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Emdeki Utama Tbk PT right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Emdeki Utama Tbk PT
How large is the market capitalisation of Emdeki Utama Tbk PT (MDKI)?
The market capitalisation of Emdeki Utama Tbk PT is 491B IDR (≈ $27.4M). 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 Emdeki Utama Tbk PT (MDKI)?
The price-to-sales ratio of Emdeki Utama Tbk PT is 1.35 (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 Emdeki Utama Tbk PT (MDKI)?
Earnings per share at Emdeki Utama Tbk PT are 15.45 IDR (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Emdeki Utama Tbk PT (MDKI)?
The dividend yield of Emdeki Utama Tbk PT is 4.4% (payout 55.8%). 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 Emdeki Utama Tbk PT (MDKI)?
The net margin of Emdeki Utama Tbk PT is 10.8% (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 Emdeki Utama Tbk PT (MDKI)?
The return on equity (ROE) of Emdeki Utama Tbk PT is 3.2% (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 Emdeki Utama Tbk PT (MDKI)?
On an EBIT basis the return on assets of Emdeki Utama Tbk PT is 4.0% (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 Emdeki Utama Tbk PT (MDKI)?
The operating margin of Emdeki Utama Tbk PT is 8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Emdeki Utama Tbk PT (MDKI)?
Revenue at Emdeki Utama Tbk PT is growing −2.8% versus a year earlier (3y avg −13.1%). 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 Emdeki Utama Tbk PT (MDKI)?
Earnings per share at Emdeki Utama Tbk PT are growing −37.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Emdeki Utama Tbk PT (MDKI) hold?
Emdeki Utama Tbk PT holds more cash than debt, 196B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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