PT Bukit Asam Tbk

IDX:PTBA Stock Report

Market Cap: Rp26.6t

Bukitm Valuation

Is PTBA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PTBA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Rp1.81k
Fair Value
27.4% overvalued intrinsic discount
13
Number of Analysts

Below Fair Value: PTBA (IDR2310) is trading above our estimate of fair value (IDR1813.61)

Significantly Below Fair Value: PTBA is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PTBA?

Key metric: As PTBA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PTBA. This is calculated by dividing PTBA's market cap by their current earnings.
What is PTBA's PE Ratio?
PE Ratio8.1x
EarningsRp3.27t
Market CapRp26.60t

Price to Earnings Ratio vs Peers

How does PTBA's PE Ratio compare to its peers?

The above table shows the PE ratio for PTBA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.7x
ITMG Indo Tambangraya Megah
6.4x-10.90%Rp24.9t
GEMS Golden Energy Mines
11.4xn/aRp52.5t
HRUM Harum Energy
36.9x57.68%Rp13.2t
MCOL Prima Andalan Mandiri
15.9xn/aRp13.0t
PTBA Bukitm
8.1x-5.49%Rp26.6t

Price-To-Earnings vs Peers: PTBA is good value based on its Price-To-Earnings Ratio (8.1x) compared to the peer average (17.7x).

Price to Earnings Ratio vs Industry

How does PTBA's PE Ratio compare vs other companies in the ID Oil and Gas Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
CNKO Exploitasi Energi Indonesia
3.2xn/aUS$34.93m
No more companies available in this PE range
PTBA 8.1xIndustry Avg. 17.5xNo. of Companies8PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PTBA is good value based on its Price-To-Earnings Ratio (8.1x) compared to the ID Oil and Gas industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is PTBA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PTBA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.1x
Fair PE Ratio7.7x

Price-To-Earnings vs Fair Ratio: PTBA is expensive based on its Price-To-Earnings Ratio (8.1x) compared to the estimated Fair Price-To-Earnings Ratio (7.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PTBA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp2,310.00
Rp2,262.31
-2.06%
24.18%Rp3,100.00Rp1,600.00n/a13
Nov ’26Rp2,400.00
Rp2,285.38
-4.78%
23.15%Rp3,100.00Rp1,600.00n/a13
Oct ’26Rp2,330.00
Rp2,304.62
-1.09%
22.00%Rp3,100.00Rp1,700.00n/a13
Sep ’26Rp2,400.00
Rp2,304.62
-3.97%
22.00%Rp3,100.00Rp1,700.00n/a13
Aug ’26Rp2,420.00
Rp2,430.77
+0.45%
24.27%Rp3,500.00Rp1,700.00n/a13
Jul ’26Rp2,460.00
Rp2,461.54
+0.063%
22.78%Rp3,500.00Rp1,750.00n/a13
Jun ’26Rp2,890.00
Rp2,617.86
-9.42%
20.36%Rp3,500.00Rp1,800.00n/a14
May ’26Rp2,760.00
Rp2,710.67
-1.79%
19.98%Rp3,500.00Rp1,800.00n/a15
Apr ’26Rp2,520.00
Rp2,709.33
+7.51%
20.76%Rp3,500.00Rp1,500.00n/a15
Mar ’26Rp2,590.00
Rp2,756.00
+6.41%
18.38%Rp3,500.00Rp1,800.00n/a15
Feb ’26Rp2,690.00
Rp2,719.33
+1.09%
19.18%Rp3,500.00Rp1,800.00n/a15
Jan ’26Rp2,750.00
Rp2,711.00
-1.42%
19.42%Rp3,500.00Rp1,800.00n/a15
Dec ’25Rp2,700.00
Rp2,747.67
+1.77%
20.97%Rp3,750.00Rp1,800.00n/a15
Nov ’25Rp2,920.00
Rp2,706.43
-7.31%
21.81%Rp3,750.00Rp1,800.00Rp2,400.0014
Oct ’25Rp3,070.00
Rp2,672.31
-12.95%
17.75%Rp3,500.00Rp1,800.00Rp2,330.0013
Sep ’25Rp2,730.00
Rp2,463.85
-9.75%
19.63%Rp3,100.00Rp1,500.00Rp2,400.0013
Aug ’25Rp2,670.00
Rp2,423.00
-9.25%
18.82%Rp3,100.00Rp1,500.00Rp2,420.0010
Jul ’25Rp2,500.00
Rp2,359.09
-5.64%
18.25%Rp2,900.00Rp1,500.00Rp2,460.0011
Jun ’25Rp2,490.00
Rp2,354.17
-5.46%
17.52%Rp2,900.00Rp1,500.00Rp2,890.0012
May ’25Rp3,030.00
Rp2,707.69
-10.64%
33.79%Rp4,700.00Rp1,500.00Rp2,760.0013
Apr ’25Rp2,890.00
Rp2,679.17
-7.30%
35.25%Rp4,700.00Rp1,500.00Rp2,520.0012
Mar ’25Rp2,580.00
Rp2,653.64
+2.85%
37.43%Rp4,700.00Rp1,500.00Rp2,590.0011
Feb ’25Rp2,560.00
Rp2,715.83
+6.09%
35.03%Rp4,700.00Rp1,500.00Rp2,690.0012
Jan ’25Rp2,440.00
Rp2,805.00
+14.96%
34.74%Rp4,700.00Rp1,500.00Rp2,750.0014
Dec ’24Rp2,430.00
Rp2,953.46
+21.54%
30.61%Rp4,700.00Rp1,900.00Rp2,700.0013
Nov ’24Rp2,360.00
Rp2,961.15
+25.47%
30.24%Rp4,700.00Rp2,000.00Rp2,920.0013
Rp2.26k
Fair Value
2.1% overvalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/28 23:32
End of Day Share Price 2025/11/28 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PT Bukit Asam Tbk is covered by 31 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ephrem RaviBarclays
Swati ChopraBofA Global Research
Tansino Aulia LubisBofA Global Research