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Adhi Kartiko Pratama Tbk. (NICE) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Adhi Kartiko Pratama Tbk. IDR 576, price IDR 356, upside +61.8%, quality 44 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

AK Thin data Sep 23, 2026

Adhi Kartiko Pratama Tbk.

NICE · JK

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

✓Fair value 576.00 IDR · Strongly undervalued (+62%)
!Quality 44/100
!Expensive Growth (revenue 5y +62.6 %/yr)
!Loss-making · -1.5% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (6/8)
!Moderate moat 48/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

1,250 IDR 234.00 IDR Fair Value 576.00 IDR Jan 2024 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

32‑month range 234.00 IDR – 1,250 IDR · fair‑value band 463.02 IDR – 694.79 IDR · the 356.00 IDR price screens below the 576.00 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

PT Adhi Kartiko Pratama Tbk operates as a nickel ore mining company in Indonesia.

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PT Adhi Kartiko Pratama Tbk operates as a nickel ore mining company in Indonesia. It offers sea port services, including the operation of terminal facilities, such as ports and docks, navigation, cargo inspection, shipping and docking services, mooring services, and guidance and delay services for water transportation of passengers, animals, or goods; industrial estate services, which include the land operation for centralized industrial activities; and analytical and technical testing services, such as operations related to laboratory safety and security, and technical testing involving ionizing radiation sources, as well as the implementation of proficiency testing and the production of reference materials. The company was founded in 2008 and is headquartered in Kendari, Indonesia. PT Adhi Kartiko Pratama Tbk is a subsidiary of PT. Energy Battery Indonesia.

Stock analysis

Adhi Kartiko Pratama Tbk. (NICE) currently trades at 356.00 IDR, while our model-based Fair Value estimate is 576.00 IDR, implying the stock looks roughly 38.2% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 734.51 IDR per share, and 4 of the 6 models we run sit above the 356.00 IDR price.

Bear case: the Earnings-Based group reads lowest at 330.94 IDR, and 2 of the 6 models stay below the price. Evidence for this calculation is low.

Scenario range: 463.02 IDR (bear) to 694.79 IDR (bull), the price of 356.00 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 44/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Adhi Kartiko Pratama Tbk. reported revenue of 1.2T IDR in FY2026 versus 259B IDR in FY2022, a compound +46.0%/yr. Reported net income was −26.7B IDR in FY2026.

Key figures

Market cap 2.2T IDR (≈ $217M) · P/S ratio 1.18 · EPS (TTM) −3.12 IDR · Net margin −2.3% · Return on equity −8.7% · Return on assets (EBIT) 30.5% · Operating margin 22.6% · Revenue (TTM) 1.3T IDR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 26% below its 52-week high and 52% above its 52-week low, currently above its 200-day average.

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

Fair Value models

Bear 463.02 IDR Fair Value 576.00 IDR Bull 694.79 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. 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
EPV 281.58 IDR 330.94 IDR 374.81 IDR 74
ROIC Compounder 315.97 IDR 423.84 IDR 555.53 IDR 69
EV/EBITDA 551.35 IDR 734.51 IDR 917.67 IDR 67
All 6 models by family
Earnings-Based
EPV 281.58 IDR 330.94 IDR 374.81 IDR 74
Multiples
EV/EBIT 661.85 IDR 881.84 IDR 1,102 IDR 66
EV/EBITDA 551.35 IDR 734.51 IDR 917.67 IDR 67
EV/Revenue 335.53 IDR 478.53 IDR 621.52 IDR 53
Asset-Based
NCAV (Graham) 12.16 IDR 16.29 IDR 24.31 IDR 54
Economic Profit
ROIC Compounder 315.97 IDR 423.84 IDR 555.53 IDR 69

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Quality Score breakdown

Overall quality 44/100

Of which business quality 44 · Market factors (momentum, volatility) 38

Profitability 35
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 2
Disciplined investing over empire-building
Low Volatility 23
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 82
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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+91.2%
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.
+10.7%
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.
+62.6%
Start year 2021 (pandemic)
Profit margin (trend) ⓘ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.
−12.7% (2021) → 18.9% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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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 · 458 stocks

Beats the industry median on 5/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 44 · Above median
Fair Value upside +60% · Top 25%
Profitability
Return on assets 23% · Top 25%
Net margin (TTM) −1% · Below median
Operating margin (TTM) 23% · Top 25%
Growth and dividend
Revenue growth 53% · Top 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)100 · sector 38
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 29

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

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vale S.A VALE $14.19 $9.87 −30%
Saudi Arabian Mining Company 1211 62.70 SAR 68.97 SAR +10%
CMOC Group 603993 ¥17.81 ¥21.74 +22%
Fortescue Ltd FMG A$16.85 A$34.49 +105%
China Tungsten And Hightech Materials Co 000657 ¥60.26 ¥31.23 −48%
Hindustan Zinc Limited HINDZINC ₹590.50 ₹649.55 +10%
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%

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Adhi Kartiko Pratama Tbk. · Fair Value
576.00 IDR +38%Fair Value
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Cite: Fair Value Calculator (2026). "Adhi Kartiko Pratama Tbk. Fair Value". https://www.fairvalue-calculator.com/stock/NICE

Frequently asked questions

Is Adhi Kartiko Pratama Tbk. (NICE) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 576.00 IDR versus a price of 356.00 IDR, about +62% upside (undervalued).
What is the fair value of NICE?
Our model-based fair value for Adhi Kartiko Pratama Tbk. is 576.00 IDR (as of Sep 23, 2026), built from audited fundamentals. The current price: 356.00 IDR.
What is the quality score of NICE?
Adhi Kartiko Pratama Tbk. has a Quality Score of 44/100. 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 Adhi Kartiko Pratama Tbk. (NICE)?
Our model-based price target is the fair value of 576.00 IDR (as of Sep 23, 2026) from 6 valuation models. Cautious scenario 463.02 IDR, optimistic scenario 694.79 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Adhi Kartiko Pratama Tbk. stock forecast for 2026?
Our models put fair value at 576.00 IDR, about +62% upside versus a price of 356.00 IDR (undervalued). Cautious scenario 463.02 IDR, optimistic scenario 694.79 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Adhi Kartiko Pratama Tbk. (NICE)?
Adhi Kartiko Pratama Tbk. reported trailing-twelve-month revenue of about 1.3T IDR (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Adhi Kartiko Pratama Tbk. (NICE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Adhi Kartiko Pratama Tbk. it is 576.00 IDR per share (as of Sep 23, 2026), against a price of 356.00 IDR. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Adhi Kartiko Pratama Tbk. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, NICE trades below its calculated fair value: price 356.00 IDR, fair value 576.00 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 NICE?
No. The price is what the market pays today (356.00 IDR); the fair value is what the company's own numbers justify (576.00 IDR). For Adhi Kartiko Pratama Tbk. the two are 220.00 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Adhi Kartiko Pratama Tbk. worth?
The market values Adhi Kartiko Pratama Tbk. at about 2.2T IDR (market capitalisation, as of Sep 23, 2026). Per share that is 356.00 IDR; our models calculate a fair value of 576.00 IDR per share.
What do the bullish and bearish scenarios say about NICE?
Our models span a range for Adhi Kartiko Pratama Tbk.: cautious scenario 463.02 IDR, base 576.00 IDR, optimistic 694.79 IDR per share (as of Sep 23, 2026, price 356.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Adhi Kartiko Pratama Tbk. (NICE)?
Balance-sheet figures for Adhi Kartiko Pratama Tbk. (as of Sep 23, 2026): return on equity −8.7%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is NICE from its 52-week high?
Adhi Kartiko Pratama Tbk. trades at 356.00 IDR, about 26% below its 52-week high of 480.00 IDR and 52% above the low of 234.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 576.00 IDR is for.
Which stocks are comparable to Adhi Kartiko Pratama Tbk.?
From the same area (Basic Materials) we also value Vale S.A, Saudi Arabian Mining Company, CMOC Group, Fortescue Ltd, 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 Adhi Kartiko Pratama Tbk. stock attractive at the current price?
The data as of Sep 23, 2026: price 356.00 IDR, calculated fair value 576.00 IDR (+62%), Quality Score 44/100, from 6 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 NICE calculated?
We run Adhi Kartiko Pratama Tbk. through 6 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 576.00 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 14.1 % above its aggregate fair value. Adhi Kartiko Pratama Tbk. 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 Adhi Kartiko Pratama Tbk. (NICE)?
The closing price on Sep 23, 2026 was 356.00 IDR. Our model-based fair value is 576.00 IDR, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Adhi Kartiko Pratama Tbk. right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (463.02 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.

Key figures of Adhi Kartiko Pratama Tbk.

How large is the market capitalisation of Adhi Kartiko Pratama Tbk. (NICE)?
The market capitalisation of Adhi Kartiko Pratama Tbk. is 2.2T IDR (≈ $217M). 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 Adhi Kartiko Pratama Tbk. (NICE)?
The price-to-sales ratio of Adhi Kartiko Pratama Tbk. is 1.18 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Adhi Kartiko Pratama Tbk. (NICE)?
Earnings per share at Adhi Kartiko Pratama Tbk. are −3.12 IDR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Adhi Kartiko Pratama Tbk. (NICE)?
The net margin of Adhi Kartiko Pratama Tbk. is −2.3% (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 Adhi Kartiko Pratama Tbk. (NICE)?
The return on equity (ROE) of Adhi Kartiko Pratama Tbk. is −8.7% (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 Adhi Kartiko Pratama Tbk. (NICE)?
On an EBIT basis the return on assets of Adhi Kartiko Pratama Tbk. is 30.5% (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 Adhi Kartiko Pratama Tbk. (NICE)?
The operating margin of Adhi Kartiko Pratama Tbk. is 22.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Adhi Kartiko Pratama Tbk. (NICE)?
Revenue at Adhi Kartiko Pratama Tbk. is growing +53.2% versus a year earlier (3y avg +10.7%). 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 Adhi Kartiko Pratama Tbk. (NICE)?
Earnings per share at Adhi Kartiko Pratama Tbk. are growing +14.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Adhi Kartiko Pratama Tbk. (NICE) generate?
The free cash flow of Adhi Kartiko Pratama Tbk. is −113B IDR (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 Adhi Kartiko Pratama Tbk. (NICE) carry?
The net debt of Adhi Kartiko Pratama Tbk. is 122B IDR (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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