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PT Emdeki Utama Tbk, (MDKI) Fair Value & Analysis

Basic Materials · ID · Market cap 455B IDR

PE PT Emdeki Utama Tbk, MDKI · JK
Price191.00 IDR
Fair Value231.21 IDR
Upside+21.1%
Quality61/100
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Weak Growth
Thin margins · 9.7% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Narrow moat 37/100
Evidence: High Range 173.41 IDR – 289.02 IDR Share as image

Fair value as of: Jul 20, 2026

From 23 valuation models · updated 21 days ago

Share price +6.7% over the past month.

A solid business, screening 21% undervalued on our models.

What matters now

  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from 173.41 IDR (bear) to 289.02 IDR (bull), base 231.21 IDR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 61/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

222.17 IDR 129.97 IDR Fair Value 231.21 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 129.97 IDR – 222.17 IDR · fair‑value band 173.41 IDR – 289.02 IDR · the 191.00 IDR price screens below the 231.21 IDR fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

PT Emdeki Utama Tbk, (MDKI) currently trades at 191.00 IDR, while our model-based Fair Value estimate is 231.21 IDR, implying the stock looks roughly 21.1% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, PT Emdeki Utama Tbk, generated revenue of 317B IDR at a net margin of 9.7%. Revenue declined 2.8% year over year. It earns a return on equity of 3.2%. The balance sheet holds a net cash position of 196B IDR. Fundamentals as of Jul 20, 2026

Our scenario range runs from 173.41 IDR (bear case) to 289.02 IDR (bull case); at 191.00 IDR, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 21%, MDKI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Growth DCF 239.99 IDR 302.28 IDR 413.13 IDR 80
Residual Income 288.49 IDR 287.09 IDR 258.81 IDR 76
Rev-Margin DCF 212.97 IDR 275.25 IDR 351.79 IDR 74
All 23 models by family
DCF Models
FCF DCF 232.27 IDR 295.88 IDR 418.31 IDR 38
5Y Revenue Exit 212.97 IDR 271.85 IDR 357.40 IDR 39
5Y EBITDA Exit 225.72 IDR 293.93 IDR 384.31 IDR 41
5Y P/E Exit 231.11 IDR 303.27 IDR 389.55 IDR 38
10Y Revenue Exit 215.45 IDR 260.87 IDR 309.45 IDR 36
10Y EBITDA Exit 226.96 IDR 274.84 IDR 325.63 IDR 37
10Y P/E Exit 230.31 IDR 280.75 IDR 328.77 IDR 35
Earnings-Based
Graham-Dodd 92.49 IDR 113.04 IDR 127.17 IDR 54
EPV 190.45 IDR 209.57 IDR 226.56 IDR 59
Dividend Discount
Gordon GGM 76.95 IDR 84.63 IDR 96.43 IDR 70
DDM Multi-Stage 76.95 IDR 98.21 IDR 128.96 IDR 61
Multiples
P/E Multiple 173.41 IDR 231.21 IDR 289.02 IDR 63
P/S Multiple 141.92 IDR 189.22 IDR 236.53 IDR 58
P/B Multiple 173.41 IDR 231.21 IDR 289.02 IDR 55
EV/EBIT 232.55 IDR 282.70 IDR 332.85 IDR 53
EV/EBITDA 245.50 IDR 299.96 IDR 354.42 IDR 54
EV/Revenue 212.49 IDR 268.37 IDR 324.25 IDR 43
Asset-Based
NCAV (Graham) 191.98 IDR 257.25 IDR 383.96 IDR 50
Growth DCF
Growth DCF 239.99 IDR 302.28 IDR 413.13 IDR 80
Rev-Margin DCF 212.97 IDR 275.25 IDR 351.79 IDR 74
Economic Profit
Residual Income 288.49 IDR 287.09 IDR 258.81 IDR 76
ROIC Compounder 190.45 IDR 209.57 IDR 226.56 IDR 72
Growth Earnings
Growth-Adj P/E 123.54 IDR 176.48 IDR 229.43 IDR 68

Widest divergence: DCF Models (280.75 IDR) versus Dividend Discount (84.63 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 317B IDR
Revenue growth (YoY) -2.8%
Net margin 9.7%
Return on equity 3.2%
Free cash flow 37.2B IDR FY2025
P/E ratio 11.6
More key figures
Operating margin 8.9%
EPS (TTM) 15.45 IDR
EPS growth (YoY) -37.2%
Net cash 196B IDR FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 63 · Market factors (momentum, volatility) 57

Profitability 27
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Emdeki Utama Tbk, 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
319B IDR
Latest YoY
−7.3%
Avg. 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.
−13.1%
Avg. 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.
−1.8%
Avg. growth/yr (12Y) 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.
+2.5%
Revenue −5.3%/yr
FY21 397B IDR
FY22 487B IDR
FY23 471B IDR
FY24 344B IDR
FY25 319B IDR
Net income −2.9%/yr
FY21 38.7B IDR
FY22 38.0B IDR
FY23 47.8B IDR
FY24 27.5B IDR
FY25 34.4B IDR

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Cite: Fair Value Calculator (2026). "PT Emdeki Utama Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/MDKI

Peer Group

Specialty Chemicals · 673 stocks

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.

Quality Score 61 · Top 25%
Fair Value upside +21% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth -3% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 11.6× · Cheaper than 75% of peers
P/B 0.47× · Cheaper than 75% of peers
P/S (TTM) 1.44× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 4.6× · Cheaper than 75% of peers

Snowflake

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.

VALUE 61 · sector 0
FUTURE 0 · sector 19
PAST 13 · sector 23
HEALTH 100 · sector 95
DIVIDEND 0 · sector 25

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is PT Emdeki Utama Tbk, (MDKI) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 231.21 IDR versus a price of 191.00 IDR, about +21% (undervalued).
What is the fair value of MDKI?
Our model-based fair value for PT Emdeki Utama Tbk, is 231.21 IDR (as of Jul 20, 2026), built from audited fundamentals. The current price is 191.00 IDR.
What is the quality score of MDKI?
PT Emdeki Utama Tbk, 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 revenue of PT Emdeki Utama Tbk, (MDKI)?
PT Emdeki Utama Tbk, reported trailing-twelve-month revenue of about 317B IDR (latest available figure, as of Jul 20, 2026).
What is the net profit margin of MDKI?
The net profit margin of PT Emdeki Utama Tbk, is about 9.7%, meaning it keeps roughly 9.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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