PT Antam (Persero) Tbk

IDX:ANTM Stock Report

Market Cap: Rp87.2t

Antam (Persero) Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: ANTM (IDR3630) is trading below our estimate of future cash flow value (IDR5708.44)

Significantly Below Future Cash Flow Value: ANTM is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ANTM. This is calculated by dividing ANTM's market cap by their current earnings.
What is ANTM's PE Ratio?
PE Ratio10.3x
EarningsRp8.48t
Market CapRp87.24t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ANTM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.9x
ARCI Archi Indonesia
16.6x30.84%Rp35.0t
PSAB J Resources Asia Pasifik
25.2xn/aRp13.5t
NCKL Trimegah Bangun Persada
8x18.38%Rp63.9t
MBMA Merdeka Battery Materials
121.9x50.98%Rp62.6t
ANTM Antam (Persero)
10.3x14.79%Rp87.2t

Price-To-Earnings vs Peers: ANTM is good value based on its Price-To-Earnings Ratio (10.3x) compared to the peer average (42.9x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does ANTM's PE Ratio compare vs other companies in the ID Metals and Mining Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
KRAS Krakatau Steel (Persero)
0.8xn/aUS$311.94m
No more companies available in this PE range
ANTM 10.3xIndustry Avg. 17.8xNo. of Companies3PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ANTM is good value based on its Price-To-Earnings Ratio (10.3x) compared to the ID Metals and Mining industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is ANTM'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.

ANTM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.3x
Fair PE Ratio18.9x

Price-To-Earnings vs Fair Ratio: ANTM is good value based on its Price-To-Earnings Ratio (10.3x) compared to the estimated Fair Price-To-Earnings Ratio (18.9x).

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 ANTM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp3,630.00
Rp4,845.63
+33.49%
21.04%Rp6,050.00Rp2,500.00n/a16
May ’27Rp3,740.00
Rp4,833.13
+29.23%
21.16%Rp6,050.00Rp2,500.00n/a16
Apr ’27Rp3,710.00
Rp4,544.67
+22.50%
23.07%Rp6,000.00Rp2,500.00n/a15
Mar ’27Rp4,350.00
Rp4,461.33
+2.56%
21.86%Rp6,000.00Rp2,500.00n/a15
Feb ’27Rp4,210.00
Rp3,980.00
-5.46%
26.52%Rp5,600.00Rp2,100.00n/a15
Jan ’27Rp3,150.00
Rp3,500.00
+11.11%
21.65%Rp5,600.00Rp2,100.00n/a16
Dec ’26Rp2,990.00
Rp3,462.50
+15.80%
19.11%Rp5,000.00Rp2,100.00n/a16
Nov ’26Rp3,100.00
Rp3,526.25
+13.75%
20.33%Rp5,000.00Rp2,100.00n/a16
Oct ’26Rp3,210.00
Rp3,346.88
+4.26%
21.37%Rp4,500.00Rp1,900.00n/a16
Sep ’26Rp3,200.00
Rp3,268.75
+2.15%
22.36%Rp4,600.00Rp1,900.00n/a16
Aug ’26Rp2,880.00
Rp3,212.50
+11.55%
20.73%Rp4,600.00Rp1,900.00n/a16
Jul ’26Rp3,070.00
Rp3,181.25
+3.62%
20.97%Rp4,600.00Rp1,900.00n/a16
Jun ’26Rp3,110.00
Rp2,891.18
-7.04%
20.46%Rp3,850.00Rp1,800.00n/a17
May ’26Rp2,170.00
Rp2,205.00
+1.61%
16.68%Rp3,100.00Rp1,600.00Rp3,740.0016
Apr ’26Rp1,635.00
Rp1,949.38
+19.23%
7.10%Rp2,200.00Rp1,600.00Rp3,710.0016
Mar ’26Rp1,585.00
Rp1,924.38
+21.41%
6.57%Rp2,120.00Rp1,600.00Rp4,350.0016
Feb ’26Rp1,390.00
Rp1,882.19
+35.41%
8.60%Rp2,215.00Rp1,500.00Rp4,210.0016
Jan ’26Rp1,525.00
Rp1,887.67
+23.78%
11.54%Rp2,300.00Rp1,400.00Rp3,150.0015
Dec ’25Rp1,430.00
Rp1,881.00
+31.54%
12.14%Rp2,315.00Rp1,400.00Rp2,990.0015
Nov ’25Rp1,520.00
Rp1,855.00
+22.04%
12.14%Rp2,425.00Rp1,400.00Rp3,100.0015
Oct ’25Rp1,500.00
Rp1,719.33
+14.62%
11.27%Rp2,000.00Rp1,400.00Rp3,210.0015
Sep ’25Rp1,390.00
Rp1,716.00
+23.45%
12.79%Rp2,000.00Rp1,400.00Rp3,200.0015
Aug ’25Rp1,345.00
Rp1,702.67
+26.59%
12.56%Rp2,000.00Rp1,400.00Rp2,880.0015
Jul ’25Rp1,305.00
Rp1,892.86
+45.05%
21.12%Rp2,660.00Rp1,300.00Rp3,070.0014
Jun ’25Rp1,465.00
Rp2,011.00
+37.27%
25.51%Rp3,250.00Rp1,300.00Rp3,110.0015
May ’25Rp1,640.00
Rp2,065.59
+25.95%
20.68%Rp3,250.00Rp1,400.00Rp2,170.0017
Rp4.85k
Fair Value
25.1% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/09 20:05
End of Day Share Price 2026/05/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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 Antam (Persero) Tbk is covered by 27 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacquelin HamdaniCGS International
Ryan DavisCitigroup Inc
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