お知らせ • May 06
PT Merdeka Battery Materials Tbk., Annual General Meeting, Jun 11, 2026 PT Merdeka Battery Materials Tbk., Annual General Meeting, Jun 11, 2026. Major Estimate Revision • May 06
Consensus revenue estimates increase by 16% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$2.51b to US$2.90b. EPS estimate unchanged from US$0.0014 at last update. Metals and Mining industry in Indonesia expected to see average net income growth of 72% next year. Consensus price target of Rp763 unchanged from last update. Share price fell 4.3% to Rp660 over the past week. Reported Earnings • Apr 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$0 (in line with FY 2024). Revenue: US$1.43b (down 22% from FY 2024). Net income: US$29.6m (up 30% from FY 2024). Profit margin: 2.1% (up from 1.2% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were behind analyst estimates. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 33% growth forecast for the Metals and Mining industry in Indonesia. New Risk • Mar 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. お知らせ • Mar 17
PT Merdeka Battery Materials Tbk. (IDX:MBMA) announces an Equity Buyback for 1,800,000,000 shares, for IDR 1,700,000 million. PT Merdeka Battery Materials Tbk. (IDX:MBMA) announces a share repurchase program. Under the plan, the company will repurchase up to 1,800,000,000 shares for IDR 1,700,000 million. The purpose of program is to maintain share price stability and strengthen investor confidence. The program is valid till June 16, 2026. Major Estimate Revision • Dec 24
Consensus EPS estimates increase by 110%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$1.57b to US$1.42b. EPS estimate rose from US$0.0002 to US$0.0004. Net income forecast to grow 260% next year vs 61% growth forecast for Metals and Mining industry in Indonesia. Consensus price target broadly unchanged at Rp675. Share price was steady at Rp545 over the past week. Reported Earnings • Dec 19
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: US$0 (in line with 3Q 2024). Revenue: US$307.3m (down 33% from 3Q 2024). Net income: US$19.5m (up US$21.4m from 3Q 2024). Profit margin: 6.3% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 18%. Earnings per share (EPS) were also behind analyst estimates. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 38% growth forecast for the Metals and Mining industry in Indonesia. Major Estimate Revision • Oct 14
Consensus EPS estimates fall by 21%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$1.55b to US$1.58b. EPS estimate fell from US$0.0001 to US$0.0001 per share. Net income forecast to grow 741% next year vs 49% growth forecast for Metals and Mining industry in Indonesia. Consensus price target up from Rp531 to Rp595. Share price fell 4.9% to Rp585 over the past week. Board Change • Oct 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Independent Commissioner Didi Achjari was the last independent director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. お知らせ • May 05
PT Merdeka Battery Materials Tbk., Annual General Meeting, Jun 10, 2025 PT Merdeka Battery Materials Tbk., Annual General Meeting, Jun 10, 2025. Major Estimate Revision • Nov 02
Consensus EPS estimates increase by 13%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$1.93b to US$1.91b. EPS estimate rose from US$0.0002 to US$0.0003. Net income forecast to grow 100% next year vs 61% growth forecast for Metals and Mining industry in Indonesia. Consensus price target broadly unchanged at Rp724. Share price rose 2.9% to Rp540 over the past week. Major Estimate Revision • Oct 07
Consensus EPS estimates fall by 65% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$2.07b to US$1.94b. EPS estimate also fell from US$0.0006 per share to US$0.0002 per share. Net income forecast to grow 94% next year vs 34% growth forecast for Metals and Mining industry in Indonesia. Consensus price target broadly unchanged at Rp718. Share price fell 4.3% to Rp560 over the past week. Reported Earnings • Oct 02
Second quarter 2024 earnings released: EPS: US$0 (vs US$0 in 2Q 2023) Second quarter 2024 results: EPS: US$0 (in line with 2Q 2023). Revenue: US$477.4m (up 129% from 2Q 2023). Net income: US$16.7m (up US$29.4m from 2Q 2023). Profit margin: 3.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Metals and Mining industry in Indonesia. Major Estimate Revision • Sep 04
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$2.11b to US$2.07b. EPS estimate also fell from US$0.0007 per share to US$0.0006 per share. Net income forecast to grow 477% next year vs 13% growth forecast for Metals and Mining industry in Indonesia. Consensus price target broadly unchanged at Rp712. Share price fell 3.6% to Rp540 over the past week. Major Estimate Revision • Jun 27
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$1.91b to US$2.11b. EPS estimate unchanged from US$0.0009 at last update. Metals and Mining industry in Indonesia expected to see average net income growth of 54% next year. Consensus price target of Rp760 unchanged from last update. Share price rose 12% to Rp620 over the past week. Reported Earnings • Jun 06
First quarter 2024 earnings released: EPS: US$0 (vs US$0 in 1Q 2023) First quarter 2024 results: EPS: US$0 (in line with 1Q 2023). Revenue: US$444.2m (up 153% from 1Q 2023). Net income: US$3.67m (up US$13.5m from 1Q 2023). Profit margin: 0.8% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Metals and Mining industry in Indonesia. Major Estimate Revision • May 18
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$1.98b to US$1.95b. EPS estimate also fell from US$0.0016 per share to US$0.0013 per share. Net income forecast to grow 2,401% next year vs 50% growth forecast for Metals and Mining industry in Indonesia. Consensus price target down from Rp796 to Rp770. Share price rose 4.3% to Rp605 over the past week. お知らせ • May 18
PT Merdeka Battery Materials Tbk., Annual General Meeting, Jun 21, 2024 PT Merdeka Battery Materials Tbk., Annual General Meeting, Jun 21, 2024. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: US$0 (vs US$0 in FY 2022) Full year 2023 results: EPS: US$0 (in line with FY 2022). Revenue: US$1.33b (up 192% from FY 2022). Net income: US$6.93m (down 68% from FY 2022). Profit margin: 0.5% (down from 4.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Metals and Mining industry in Indonesia. New Risk • Feb 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: US$0 (vs US$1.34 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0 (improved from US$1.34 loss in 3Q 2022). Revenue: US$522.9m (up 226% from 3Q 2022). Net income: US$20.3m (up US$30.9m from 3Q 2022). Profit margin: 3.9% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 59% decline forecast for the Metals and Mining industry in Indonesia. New Risk • Oct 14
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.