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PT Royaltama Mulia Kontraktorindo Tbk (RMKO) Fair Value & Analysis

Energy · ID · Market cap 430B IDR

PR PT Royaltama Mulia Kontraktorindo Tbk RMKO · JK
Price290.00 IDR
Fair Value467.20 IDR
Upside+61.1%
Quality45/100
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Mixed Growth
Loss-making · -9.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (4/10)
Narrow moat 9/100
Evidence: Low Range 309.74 IDR – 624.66 IDR Share as image

Fair value as of: Jul 12, 2026

From 7 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 256.59 IDR to 467.20 IDR (+82.1%) since Jun 24, 2026. Share price −15.7% over the past month.

Below-average quality, screening 61% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (309.74 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.
  • Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (309.74 IDR to 624.66 IDR) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

1,810 IDR 89.00 IDR Fair Value 467.20 IDR Jul 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

36‑month range 89.00 IDR – 1,810 IDR · fair‑value band 309.74 IDR – 624.66 IDR · the 290.00 IDR price screens below the 467.20 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

PT Royaltama Mulia Kontraktorindo Tbk (RMKO) currently trades at 290.00 IDR, while our model-based Fair Value estimate is 467.20 IDR, implying the stock looks roughly 61.1% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Energy 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: low), always confirm before acting.

Over the trailing twelve months, PT Royaltama Mulia Kontraktorindo Tbk generated revenue of 435B IDR at a net margin of -9.2%. Revenue grew 64.6% year over year. It earns a return on equity of -22.3%. Net debt stands at 53.7B IDR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 309.74 IDR (bear case) to 624.66 IDR (bull case); at 290.00 IDR, the current price sits below 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 61%, RMKO 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 1,555 IDR 3,261 IDR 6,127 IDR 80
Rev-Margin DCF 703.51 IDR 1,098 IDR 1,939 IDR 74
NCAV (Graham) 71.28 IDR 95.51 IDR 142.55 IDR 50
All 7 models by family
DCF Models
FCF DCF 1,651 IDR 2,674 IDR 6,017 IDR 38
5Y Revenue Exit 644.97 IDR 954.99 IDR 1,589 IDR 39
10Y Revenue Exit 925.30 IDR 1,648 IDR 1,979 IDR 36
Multiples
EV/Revenue 255.60 IDR 372.97 IDR 490.35 IDR 43
Asset-Based
NCAV (Graham) 71.28 IDR 95.51 IDR 142.55 IDR 50
Growth DCF
Growth DCF 1,555 IDR 3,261 IDR 6,127 IDR 80
Rev-Margin DCF 703.51 IDR 1,098 IDR 1,939 IDR 74

Widest divergence: DCF Models (1,648 IDR) versus Asset-Based (95.51 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 435B IDR
Revenue growth (YoY) +64.6%
Net margin -9.2%
Return on equity -22.3%
Free cash flow 117B IDR FY2025
Operating margin -28.7%
More key figures
EPS (TTM) -31.85 IDR
EPS growth (YoY) +1,498%
Net debt 53.7B IDR FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 49 · Market factors (momentum, volatility) 29

Profitability 10
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 55
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 Royaltama Mulia Kontraktorindo Tbk provides coal mining, heavy equipment rental, and construction services in Indonesia. The company operates through three segments: Mining, Heavy equipment rental services, and Construction. The Mining segment provides overburden stripping, hauling, mine services, and mine partnering.

Full company description

PT Royaltama Mulia Kontraktorindo Tbk provides coal mining, heavy equipment rental, and construction services in Indonesia. The company operates through three segments: Mining, Heavy equipment rental services, and Construction. The Mining segment provides overburden stripping, hauling, mine services, and mine partnering. The Rental segment offers heavy equipment rental services. The Construction segment provides infrastructure, building, and other construction services, as well as constructs roads and bridges. PT Royaltama Mulia Kontraktorindo Tbk was founded in 2017 and is headquartered in Jakarta Barat, Indonesia. PT Royaltama Mulia Kontraktorindo Tbk is a subsidiary of Pt Rmk Investama.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

PT Royaltama Mulia Kontraktorindo Tbk reported revenue of 408B IDR in FY2025 versus 185B IDR in FY2022, a compound +30.1%/yr. Reported net income was −49.4B IDR in FY2025.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
408B IDR
Latest YoY
+63.6%
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.
+30.1%
Revenue +30.1%/yr
FY22 185B IDR
FY23 272B IDR
FY24 249B IDR
FY25 408B IDR
Net income
FY22 19.1B IDR
FY23 19.8B IDR
FY24 −18.7B IDR
FY25 −49.4B IDR

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Cite: Fair Value Calculator (2026). "PT Royaltama Mulia Kontraktorindo Tbk Fair Value". https://www.fairvalue-calculator.com/stock/RMKO

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 45 · Below median
Fair Value upside +61% · Top 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -9% · Bottom 25%
Operating margin (TTM) -29% · Bottom 25%
Revenue growth 65% · Top 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Thermal Coal median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 0.9× · 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 100 · sector 22
FUTURE 100 · sector 0
PAST 0 · sector 21
HEALTH 92 · sector 92
DIVIDEND 0 · sector 31

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 12, 2026).

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Frequently asked questions

Is PT Royaltama Mulia Kontraktorindo Tbk (RMKO) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 467.20 IDR versus a price of 290.00 IDR, about +61% (undervalued).
What is the fair value of RMKO?
Our model-based fair value for PT Royaltama Mulia Kontraktorindo Tbk is 467.20 IDR (as of Jul 12, 2026), built from audited fundamentals. The current price is 290.00 IDR.
What is the quality score of RMKO?
PT Royaltama Mulia Kontraktorindo Tbk has a Quality Score of 45/100. 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 Royaltama Mulia Kontraktorindo Tbk (RMKO)?
PT Royaltama Mulia Kontraktorindo Tbk reported trailing-twelve-month revenue of about 435B IDR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of RMKO?
The net profit margin of PT Royaltama Mulia Kontraktorindo Tbk is about -9.2%, meaning it is currently running at a net loss. 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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