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PT RMK Energy Tbk, (RMKE) Fair Value & Analysis

Energy · ID · Market cap 9.8T IDR

PR PT RMK Energy Tbk, RMKE · JK
Price422.00 IDR
Fair Value5.09 IDR
Upside-98.8%
Quality38/100
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Expensive Growth
Thin margins · 9.1% net margin
Low debt · negative free cash flow
Trails peers (5/13)
Moderate moat 46/100
Evidence: High Range 3.73 IDR – 6.44 IDR Share as image

Fair value as of: Jul 31, 2026

From 17 valuation models · updated 9 days ago

Share price −81.0% over the past month.

Below-average quality, and screening another 99% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (6.44 IDR). The favourable scenario is already priced in.
  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

8,622 IDR 189.26 IDR Fair Value 5.09 IDR Dec 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 31, 2026.

How to read this chart

56‑month range 189.26 IDR – 8,622 IDR · fair‑value band 3.73 IDR – 6.44 IDR · the 422.00 IDR price screens above the 5.09 IDR fair value. Dashed = 300-day average. As of Jul 31, 2026.

Full chart & analysis →

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Analysis

PT RMK Energy Tbk, (RMKE) currently trades at 422.00 IDR, while our model-based Fair Value estimate is 5.09 IDR, implying the stock looks roughly 98.8% overvalued today. The Quality Score stands at 38/100 (below-average 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: high).

Over the trailing twelve months, PT RMK Energy Tbk, generated revenue of 2.7T IDR at a net margin of 9.1%. Revenue grew 142.1% year over year. It earns a return on equity of 13.3%. Net debt stands at 196B IDR. Fundamentals as of Jul 31, 2026

Our scenario range runs from 3.73 IDR (bear case) to 6.44 IDR (bull case); at 422.00 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. For context, the median of 10 Energy peers we cover trades at -12% fair-value upside, at -99%, RMKE 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income 79.93 IDR 100.46 IDR 269.89 IDR 76
ROIC Compounder 115.43 IDR 162.10 IDR 227.59 IDR 72
Gordon GGM 6.37 IDR 13.91 IDR 23.41 IDR 70
All 17 models by family
DCF Models
Owner Earnings 0.4000 IDR 2.73 IDR 6.94 IDR 31
Earnings-Based
Graham-Dodd 71.12 IDR 322.32 IDR 442.06 IDR 54
Lynch FV 84.26 IDR 120.37 IDR 156.49 IDR 50
PEG = 1.0 84.26 IDR 120.37 IDR 156.49 IDR 46
EPV 105.56 IDR 124.60 IDR 141.53 IDR 59
Dividend Discount
Gordon GGM 6.37 IDR 13.91 IDR 23.41 IDR 70
DDM Multi-Stage 6.37 IDR 11.40 IDR 14.50 IDR 61
Multiples
P/E Multiple 109.81 IDR 146.42 IDR 183.02 IDR 63
P/S Multiple 86.30 IDR 115.06 IDR 143.83 IDR 58
P/B Multiple 113.62 IDR 151.49 IDR 189.36 IDR 55
EV/EBIT 102.18 IDR 137.03 IDR 171.88 IDR 53
EV/EBITDA 75.10 IDR 100.93 IDR 126.75 IDR 54
EV/Revenue 78.17 IDR 112.69 IDR 147.21 IDR 43
Asset-Based
NCAV (Graham) 42.08 IDR 56.39 IDR 84.16 IDR 50
Economic Profit
Residual Income 79.93 IDR 100.46 IDR 269.89 IDR 76
ROIC Compounder 115.43 IDR 162.10 IDR 227.59 IDR 72
Growth Earnings
Growth-Adj P/E 111.10 IDR 158.72 IDR 206.33 IDR 68

Widest divergence: Growth Earnings (158.72 IDR) versus DCF Models (2.73 IDR). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 2.7T IDR
Revenue growth (YoY) +142%
Net margin 9.1%
Return on equity 13.3%
Free cash flow −76.6B IDR FY2025
P/E ratio 33.2
More key figures
Operating margin 10.0%
EPS (TTM) 56.03 IDR
EPS growth (YoY) +5.6%
Net debt 196B IDR FY2025

Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 41 · Market factors (momentum, volatility) 28

Profitability 48
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 20
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 16
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 43
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 RMK Energy Tbk, together with its subsidiaries, engages in the provision of coal logistic services in Indonesia. The company operates through coal sales and services segments. It provides train loading and unloading, port management, coal offtake and joint operation, and coal mining services.

Full company description

PT RMK Energy Tbk, together with its subsidiaries, engages in the provision of coal logistic services in Indonesia. The company operates through coal sales and services segments. It provides train loading and unloading, port management, coal offtake and joint operation, and coal mining services. The company was founded in 2009 and is headquartered in Jakarta, Indonesia. PT RMK Energy Tbk operates as a subsidiary of Pt Rmk Investama.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT RMK Energy Tbk, reported revenue of 2.2T IDR in FY2025 versus 1.9T IDR in FY2021, a compound +4.4%/yr. Reported net income was 242B IDR in FY2025, compounding +5.0%/yr from FY2021.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.2T IDR
Latest YoY
−9.9%
Avg. growth/yr (3Y)
−6.7%
Avg. growth/yr (5Y)
+28.4%
Avg. growth/yr (7Y)
+21.7%
Revenue +4.4%/yr
FY21 1.9T IDR
FY22 2.7T IDR
FY23 2.6T IDR
FY24 2.5T IDR
FY25 2.2T IDR
Net income +5.0%/yr
FY21 199B IDR
FY22 389B IDR
FY23 303B IDR
FY24 288B IDR
FY25 242B IDR

RMKE screens 99% overvalued. Compare with China Shenhua Energy Company →

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Cite: Fair Value Calculator (2026). "PT RMK Energy Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/RMKE

Peer Group

Thermal Coal · 101 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 38 · Below median
Fair Value upside −94% · Bottom 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 142% · Top 25%
Dividend yield (TTM) 0.0% · Below median
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Thermal Coal median · lower = cheaper

P/E (TTM) 39.8× · Pricier than 75% of peers
P/B 5.01× · Pricier than 75% of peers
P/S (TTM) 3.62× · Pricier than 75% of peers
EV/EBITDA 23.6× · 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.

VALUE 0 · sector 27
FUTURE 100 · sector 0
PAST 53 · sector 21
HEALTH 92 · sector 92
DIVIDEND 0 · sector 31

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.

Coal Oil & gas

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

Similar stocks

10 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).

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Frequently asked questions

Is PT RMK Energy Tbk, (RMKE) overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of 5.09 IDR versus a price of 422.00 IDR, about −99% (overvalued).
What is the fair value of RMKE?
Our model-based fair value for PT RMK Energy Tbk, is 5.09 IDR (as of Jul 31, 2026), built from audited fundamentals. The current price is 422.00 IDR.
What is the quality score of RMKE?
PT RMK Energy Tbk, has a Quality Score of 38/100. 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 RMK Energy Tbk, (RMKE)?
PT RMK Energy Tbk, reported trailing-twelve-month revenue of about 2.7T IDR (latest available figure, as of Jul 31, 2026).
What is the net profit margin of RMKE?
The net profit margin of PT RMK Energy Tbk, is about 9.1%, meaning it keeps roughly 9.1% 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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