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PT Raharja Energi Cepu Tbk (RATU) Fair Value & Analysis

Energy · ID · Market cap 11.8T IDR

PR PT Raharja Energi Cepu Tbk RATU · JK
Price4,200 IDR
Fair Value752.32 IDR
Upside-82.1%
Quality72/100
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Strengths

Highly profitable · 28.5% net margin
Low debt · generates free cash flow
Wide moat 84/100

Risks

!Trades 458% ABOVE our fair value of 752.32 IDR
!Mixed Growth
!Mixed vs. peers (6/14)
!Evidence only medium, so the estimate is less certain
Mixed Growth
Highly profitable · 28.5% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Wide moat 84/100
Evidence: Medium Range 563.77 IDR – 1,242 IDR Share as image

Fair value as of: Aug 27, 2026

From 20 valuation models · updated today

Fair value updated Aug 27, 2026, revised from 0.0400 IDR to 752.32 IDR (+1,880,700.0%) since Aug 13, 2026. Share price −16.0% over the past month.

A solid business, but trading 458% above our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (1,242 IDR). The favourable scenario is already priced in.
  • A fairly wide model range (563.77 IDR to 1,242 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (20 months)

12,011 IDR 1,412 IDR Fair Value 752.32 IDR Jan 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

20‑month range 1,412 IDR – 12,011 IDR · fair‑value band 563.77 IDR – 1,242 IDR · the 4,200 IDR price screens above the 752.32 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

PT Raharja Energi Cepu Tbk (RATU) currently trades at 4,200 IDR, while our model-based Fair Value estimate is 752.32 IDR, implying the stock looks roughly 82.1% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, PT Raharja Energi Cepu Tbk generated revenue of 47.1M IDR at a net margin of 28.5%. Revenue declined 16.8% year over year. It earns a return on equity of 24.9%. Net debt stands at 11.6M IDR. Fundamentals as of Aug 27, 2026

Our scenario range runs from 563.77 IDR (bear case) to 1,242 IDR (bull case); at 4,200 IDR, the current price sits above 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 67% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at -82%, RATU screens richer 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (150.46 IDR to 1,806 IDR). Read the values as a conservative anchor, not as a price target.
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 1,354 IDR 1,806 IDR 2,558 IDR 80
Residual Income 601.86 IDR 752.32 IDR 4,965 IDR 76
Rev-Margin DCF 601.86 IDR 752.32 IDR 1,053 IDR 74
All 20 models by family
DCF Models
FCF DCF 1,204 IDR 1,655 IDR 2,708 IDR 38
5Y Revenue Exit 601.86 IDR 752.32 IDR 902.78 IDR 39
5Y P/E Exit 1,053 IDR 1,354 IDR 1,806 IDR 38
10Y Revenue Exit 902.78 IDR 902.78 IDR 1,053 IDR 36
10Y P/E Exit 1,053 IDR 1,354 IDR 1,655 IDR 35
Earnings-Based
Graham-Dodd 601.86 IDR 752.32 IDR 752.32 IDR 54
EPV 1,053 IDR 1,204 IDR 1,354 IDR 59
Dividend Discount
Gordon GGM 300.93 IDR 451.39 IDR 451.39 IDR 70
DDM Multi-Stage 300.93 IDR 451.39 IDR 601.86 IDR 61
Multiples
P/E Multiple 902.78 IDR 1,204 IDR 1,505 IDR 63
P/S Multiple 300.93 IDR 300.93 IDR 451.39 IDR 58
P/B Multiple 300.93 IDR 451.39 IDR 601.86 IDR 55
EV/EBIT 1,053 IDR 1,354 IDR 1,655 IDR 53
EV/Revenue 300.93 IDR 451.39 IDR 451.39 IDR 43
Asset-Based
NCAV (Graham) 150.46 IDR 150.46 IDR 300.93 IDR 50
Growth DCF
Growth DCF 1,354 IDR 1,806 IDR 2,558 IDR 80
Rev-Margin DCF 601.86 IDR 752.32 IDR 1,053 IDR 74
Economic Profit
Residual Income 601.86 IDR 752.32 IDR 4,965 IDR 76
ROIC Compounder 1,053 IDR 1,204 IDR 1,505 IDR 72
Growth Earnings
Growth-Adj P/E 601.86 IDR 902.78 IDR 1,204 IDR 68

Widest divergence: DCF Models (1,354 IDR) versus Asset-Based (150.46 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 47.5
Net margin 28.5% TTM
Return on equity 24.9% TTM
Return on assets 12.8% TTM
Operating margin 51.1% TTM
EPS (TTM) 88.51 IDR
More key figures
Growth
Revenue (TTM) 47.1M IDR TTM
Revenue growth (YoY) -16.8%
EPS growth (YoY) -31.5%
Balance sheet & cash flow
Free cash flow 20.1M IDR FY2025
Net debt 11.6M IDR FY2024 · ≈ 0.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 73 · Market factors (momentum, volatility) 6

Profitability 80
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 84
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT Raharja Energi Cepu Tbk, through its subsidiary, PT Raharja Energi Tanjung Jabung, engages in the mining and excavation of oil and gas business in Indonesia. The company holds a 2.2423% participating interest in the Cepu block; and 8% participating interest in the Jabung block located in the Jambi province.

Full company description

PT Raharja Energi Cepu Tbk, through its subsidiary, PT Raharja Energi Tanjung Jabung, engages in the mining and excavation of oil and gas business in Indonesia. The company holds a 2.2423% participating interest in the Cepu block; and 8% participating interest in the Jabung block located in the Jambi province. PT Raharja Energi Cepu Tbk was founded in 2006 and is based in Jakarta Pusat, Indonesia. PT Raharja Energi Cepu Tbk is a subsidiary of PT Rukun Raharja Tbk.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Raharja Energi Cepu Tbk reported revenue of 49.3M IDR in FY2025 versus 0 IDR in FY2021. Reported net income was 15.3M IDR in FY2025, compounding +63.1%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
49.3M IDR
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+48.0% (48.0 + 0.0)
Revenue
FY21 0 IDR
FY22 0 IDR
FY23 47.0M IDR
FY24 57.7M IDR
FY25 49.3M IDR
Net income +63.1%/yr
FY21 2.2M IDR
FY22 6.2M IDR
FY23 24.3M IDR
FY24 13.9M IDR
FY25 15.3M IDR

RATU screens 82% overvalued. Compare with CNOOC Limited →

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Cite: Fair Value Calculator (2026). "PT Raharja Energi Cepu Tbk Fair Value". https://www.fairvalue-calculator.com/stock/RATU

Peer Group

Oil & Gas E&P · 327 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 72 · Top 25%
Fair Value upside −82% · Bottom 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 28% · Top 25%
Operating margin (TTM) 51% · Top 25%
Revenue growth -17% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.19× · Lower than median

Valuation Multiples vs Oil & Gas E&P median · lower = cheaper

P/E (TTM) 47.5× · Pricier than 75% of peers
P/B 23.98× · Pricier than 75% of peers
P/S (TTM) 25.03× · Pricier than 75% of peers
P/FCF 58.5× · Pricier than 75% of peers
EV/EBITDA 54.3× · Pricier 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 13
FUTURE0 · sector 3
PAST99 · sector 0
HEALTH91 · sector 87
DIVIDEND0 · sector 60

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
CNOOC Limited 600938 ¥32.85 ¥32.55 -1%
ConocoPhillips explores for, COP $126.78 $90.15 -29%
Canadian Natural Resources Limited CNQ C$68.93 C$44.78 -35%
EOG Resources, Inc EOG $153.05 $130.19 -15%
Occidental Petroleum Corporation OXY $58.55 $30.06 -49%
Diamondback Energy, Inc FANG $210.02 $105.24 -50%
Devon Energy Corporation DVN $44.86 $27.06 -40%
Woodside Energy Group WDS A$32.55 A$20.71 -36%
EQT Corporation EQT $54.06 $42.85 -21%
Texas Pacific Land Corporation TPL $342.77 $77.26 -77%

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Frequently asked questions

Is PT Raharja Energi Cepu Tbk (RATU) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of 752.32 IDR versus a price of 4,200 IDR, about −82% (overvalued).
What is the fair value of RATU?
Our model-based fair value for PT Raharja Energi Cepu Tbk is 752.32 IDR (as of Aug 27, 2026), built from audited fundamentals. The current price: 4,200 IDR.
What is the quality score of RATU?
PT Raharja Energi Cepu Tbk has a Quality Score of 72/100. 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 Raharja Energi Cepu Tbk (RATU)?
PT Raharja Energi Cepu Tbk reported trailing-twelve-month revenue of about 47.1M IDR (latest available figure, as of Aug 27, 2026).
What is the net profit margin of RATU?
The net profit margin of PT Raharja Energi Cepu Tbk is about 28.5%, meaning it keeps roughly 28.5% 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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