PT Trimegah Bangun Persada TBK (NCKL) Fair Value & Analysis
Basic Materials · ID · Market cap 53.2T IDR
Fair value as of: Jul 17, 2026
From 26 valuation models · updated 24 days ago
Fair value updated Jul 17, 2026, revised from 1,819 IDR to 1,231 IDR (−32.3%) since Jul 16, 2026. Share price +20.8% over the past month.
A solid business, screening 30% undervalued on our models.
What matters now
- The model range is unusually wide (914.08 IDR to 4,804 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
40‑month range 506.63 IDR – 1,465 IDR · fair‑value band 914.08 IDR – 4,804 IDR · the 945.00 IDR price screens below the 1,231 IDR fair value. Dashed = 300-day average. As of Jul 17, 2026.
Analysis
PT Trimegah Bangun Persada TBK (NCKL) currently trades at 945.00 IDR, while our model-based Fair Value estimate is 1,231 IDR, implying the stock looks roughly 30.3% undervalued today. The Quality Score stands at 67/100 (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: medium), always confirm before acting.
Over the trailing twelve months, PT Trimegah Bangun Persada TBK generated revenue of 29.0T IDR at a net margin of 27.6%. Revenue declined 4.5% year over year. It earns a return on equity of 25.3%. Net debt stands at 3.4T IDR. Fundamentals as of Jul 17, 2026
Our scenario range runs from 914.08 IDR (bear case) to 4,804 IDR (bull case); at 945.00 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 41% below its 52-week high and 55% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at 30%, NCKL 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.
All 26 models by family
Widest divergence: Growth Earnings (5,463 IDR) versus Asset-Based (411.11 IDR). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 69 · Market factors (momentum, volatility) 30
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 Trimegah Bangun Persada TBK engages in the nickel ore mining and processing in Indonesia and distributes the products to China, Switzerland, Hong Kong, Sweden, and Singapore.
Full company description
PT Trimegah Bangun Persada TBK engages in the nickel ore mining and processing in Indonesia and distributes the products to China, Switzerland, Hong Kong, Sweden, and Singapore. The company owns and operates two nickel laterite mining projects located at Kawasi and Loji on Obi Island; and mining concessions for two nickel mining prospects located in Tabuji, Fluk dan Gambaru and Jikodolong village, Indonesia. It also manufactures non-ferrous base metals; and provides laboratory testing, real estate, and other management consulting services. In addition, the company is involved in the trading and consultancy businesses. PT Trimegah Bangun Persada Tbk was founded in 2004 and is headquartered in Jakarta Pusat, Indonesia. PT Trimegah Bangun Persada Tbk is a subsidiary of PT Harita Jayaraya Inc.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Trimegah Bangun Persada TBK reported revenue of 29.6T IDR in FY2025 versus 8.2T IDR in FY2021, a compound +37.8%/yr. Reported net income was 9.0T IDR in FY2025, compounding +44.1%/yr from FY2021.
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Peer Group
Other Industrial Metals & Mining · 476 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.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHPN | 1,425 MXN | 942.42 MXN | -34% |
| Rio Tinto Group RIO | A$164.89 | A$81.76 | -50% |
| Grupo México, S.A. GMEXICOB | 199.23 MXN | 187.72 MXN | -6% |
| Vale S.A VALE | $14.19 | $9.14 | -36% |
| Saudi Arabian Mining Company 1211 | 58.05 SAR | 33.87 SAR | -42% |
| CMOC Group 603993 | ¥18.20 | ¥16.15 | -11% |
| Fortescue Ltd FMG | A$18.47 | A$18.62 | +1% |
| China Tungsten And Hightech Materials Co 000657 | ¥74.71 | ¥9.55 | -87% |
| Hindustan Zinc Limited HINDZINC | ₹521.95 | ₹576.80 | +11% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥39.56 | ¥10.59 | -73% |
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Frequently asked questions
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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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