PT Merdeka Copper Gold Tbk (ISX:MDKA) E10: Rp17.60 (As of Mar. 2026)

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ISX:MDKA PT Merdeka Copper Gold Tbk ISX:MDKA
93 GF Score
Price Rp2,650.00
GF Value Rp3,367.98
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is PT Merdeka Copper Gold Tbk E10?

PT Merdeka Copper Gold Tbk ISX:MDKA -4.68% 93 E10 is Rp17.60 as of Mar. 2026. GuruFocus rates ISX:MDKA with a GF Score™ of 93/100 and a GF Value™ of Rp3,367.98 (Modestly Undervalued). The stock has 6 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

PT Merdeka Copper Gold Tbk's adjusted earnings per share data for the three months ended in Mar. 2026 was Rp40.630. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is Rp17.60 for the trailing ten years ended in Mar. 2026.

During the past 12 months, PT Merdeka Copper Gold Tbk's average E10 Growth Rate was 7.40% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2026-07-24), PT Merdeka Copper Gold Tbk's current stock price is Rp2650.00. PT Merdeka Copper Gold Tbk's E10 for the quarter that ended in Mar. 2026 was Rp17.60. PT Merdeka Copper Gold Tbk's Shiller PE Ratio of today is 150.57.

During the past 12 years, the highest Shiller PE Ratio of PT Merdeka Copper Gold Tbk was 283.88. The lowest was 79.67. And the median was 145.89.


PT Merdeka Copper Gold Tbk  (ISX:MDKA) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

PT Merdeka Copper Gold Tbk's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=2650.00/17.60
=150.57

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 12 years, the highest Shiller P/E Ratio of PT Merdeka Copper Gold Tbk was 283.88. The lowest was 79.67. And the median was 145.89.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


PT Merdeka Copper Gold Tbk E10 Related Terms


PT Merdeka Copper Gold Tbk E10 Historical Data

* Premium members only.

The historical data trend for PT Merdeka Copper Gold Tbk's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

PT Merdeka Copper Gold Tbk E10 Chart

PT Merdeka Copper Gold Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 16.51 13.21

PT Merdeka Copper Gold Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 16.38 15.85 15.08 13.21 17.60

PT Merdeka Copper Gold Tbk E10 Competitor Comparison

For the Other Industrial Metals & Mining subindustry, PT Merdeka Copper Gold Tbk's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


PT Merdeka Copper Gold Tbk Shiller PE Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, PT Merdeka Copper Gold Tbk's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where PT Merdeka Copper Gold Tbk's Shiller PE Ratio falls into.


ISX:MDKA
93GF Score
PT Merdeka Copper Gold Tbk ISX:MDKA
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Merdeka Copper Gold Tbk E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, PT Merdeka Copper Gold Tbk's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=40.63/136.5387*136.5387
=40.630

Current CPI (Mar. 2026) = 136.5387.

PT Merdeka Copper Gold Tbk Quarterly Data

per share eps CPI Adj_EPS
201606 -0.254 103.212 -0.336
201609 -0.800 104.142 -1.049
201612 -0.255 105.222 -0.331
201703 -1.254 106.476 -1.608
201706 -0.013 107.722 -0.016
201709 14.116 108.020 17.843
201712 17.486 109.017 21.900
201803 18.794 110.097 23.308
201806 4.716 111.085 5.797
201809 12.384 111.135 15.215
201812 0.000 112.430 0.000
201903 13.866 112.829 16.780
201906 13.924 114.730 16.571
201909 15.042 114.905 17.874
201912 2.733 115.486 3.231
202003 10.418 116.252 12.236
202006 13.879 116.630 16.248
202009 12.517 116.397 14.683
202012 -13.266 117.318 -15.439
202103 -2.811 117.840 -3.257
202106 7.097 118.184 8.199
202109 8.554 118.262 9.876
202112 9.199 119.516 10.509
202203 43.046 120.948 48.595
202206 16.150 123.322 17.881
202209 -17.966 125.298 -19.578
202212 -6.996 126.098 -7.575
202303 1.531 126.953 1.647
202306 -32.527 127.663 -34.788
202309 15.359 128.151 16.364
202312 1.552 129.395 1.638
202403 -9.423 130.607 -9.851
202406 1.633 130.792 1.705
202409 -35.294 130.361 -36.967
202412 7.393 131.432 7.680
202503 -3.294 131.948 -3.409
202506 -8.057 133.241 -8.256
202509 -13.207 133.819 -13.475
202512 -18.679 135.271 -18.854
202603 40.630 136.539 40.630

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of Rp17.60 mean?
PT Merdeka Copper Gold Tbk (ISX:MDKA) has a E10 of Rp17.60 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on PT Merdeka Copper Gold Tbk and its competitors.
Is PT Merdeka Copper Gold Tbk's E10 too high?
PT Merdeka Copper Gold Tbk's current E10 is Rp17.60. Overall, PT Merdeka Copper Gold Tbk has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Merdeka Copper Gold Tbk's E10 compare to competitors?
PT Merdeka Copper Gold Tbk's E10 of Rp17.60 can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Metals & Mining company?
A good E10 depends on the Metals & Mining industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on PT Merdeka Copper Gold Tbk and its competitors. PT Merdeka Copper Gold Tbk's current E10 is Rp17.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Merdeka Copper Gold Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Merdeka Copper Gold Tbk (ISX:MDKA) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp3,367.98, compared to a current price of Rp2,650.00 — trading 21.3% below its estimated fair value. The current E10 is Rp17.60. PT Merdeka Copper Gold Tbk's overall GF Score™ is 93/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For PT Merdeka Copper Gold Tbk (ISX:MDKA), the current E10 is Rp17.60 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is PT Merdeka Copper Gold Tbk (ISX:MDKA) Overvalued in 2026?

Based on GuruFocus' analysis, PT Merdeka Copper Gold Tbk stock appears to be undervalued. The current stock price of Rp2,650.00 is trading 21.3% below its estimated GF Value™ of Rp3,367.98. GuruFocus considers PT Merdeka Copper Gold Tbk to be Modestly Undervalued.

Key valuation signals for ISX:MDKA:

  • E10: Rp17.60
  • GF Value™: Rp3,367.98 vs. price of Rp2,650.00 (21.3% below fair value)
  • GF Score™: 93/100 with 6 warning signs

No single metric tells the full story. See the ISX:MDKA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


PT Merdeka Copper Gold Tbk Business Description

Other Exchanges B0C:Germany
Address Jalan Jenderal Sudirman Kav. 52-53, Treasury Tower, 67th-68th Floor, District 8 SCBD Lot. 28, Senayan, Kebayoran Baru, South Jakarta, Jakarta, IDN, 12190
PT Merdeka Copper Gold Tbk is a holding company. Along with its subsidiary, the company engages in the field of mining and other management consultancy activities. The company's gold projects consist of the Tujuh Bukit Gold Mine and the Pani Gold Project. The copper projects include Wetar Copper Mine and Tujuh Bukit Copper Project. The Nickel project comprises SCM Mine, RKEF Smelters, Nickel Matte Converter, AIM Project, HPAL Facilities, and IKIP. The majority of the company's revenue is generated by the Nickel segment.
93GF Score

Get the complete analysis for ISX:MDKA

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Rp2,650.00
Price
Rp3,367.98
GF Value