PT Mustika Ratu Tbk (ISX:MRAT) E10: Rp8.97 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

ISX:MRAT PT Mustika Ratu Tbk ISX:MRAT
60 GF Score
Price Rp414.00
GF Value Rp588.85
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is PT Mustika Ratu Tbk E10?

PT Mustika Ratu Tbk ISX:MRAT 60 E10 is Rp8.97 as of Jun. 2026. GuruFocus rates ISX:MRAT with a GF Score™ of 60/100 and a GF Value™ of Rp588.85 (Significantly Undervalued). The stock has 4 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 Mustika Ratu Tbk's adjusted earnings per share data for the three months ended in Jun. 2026 was Rp5.530. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is Rp8.97 for the trailing ten years ended in Jun. 2026.

During the past 12 months, PT Mustika Ratu Tbk's average E10 Growth Rate was 28.00% per year. During the past 3 years, the average E10 Growth Rate was -13.10% per year. During the past 5 years, the average E10 Growth Rate was -8.40% 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.

During the past 13 years, the highest 3-Year average E10 Growth Rate of PT Mustika Ratu Tbk was 6.10% per year. The lowest was -13.10% per year. And the median was -11.10% per year.

As of today (2026-08-31), PT Mustika Ratu Tbk's current stock price is Rp414.00. PT Mustika Ratu Tbk's E10 for the quarter that ended in Jun. 2026 was Rp8.97. PT Mustika Ratu Tbk's Shiller PE Ratio of today is 46.15.

During the past 13 years, the highest Shiller PE Ratio of PT Mustika Ratu Tbk was 97.68. The lowest was 6.00. And the median was 35.67.


PT Mustika Ratu Tbk  (ISX:MRAT) 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 Mustika Ratu Tbk's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=414.00/8.97
=46.15

* 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 13 years, the highest Shiller P/E Ratio of PT Mustika Ratu Tbk was 97.68. The lowest was 6.00. And the median was 35.67.


Be Aware

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


PT Mustika Ratu Tbk E10 Related Terms


PT Mustika Ratu Tbk E10 Historical Data

* Premium members only.

The historical data trend for PT Mustika Ratu 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 Mustika Ratu Tbk E10 Chart

PT Mustika Ratu 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 7.03 12.83 11.94 8.39 8.41

PT Mustika Ratu Tbk Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 7.01 6.91 8.41 8.55 8.97

ISX:MRAT vs PG, CL, EL: E10 Comparison

For the Household & Personal Products subindustry, PT Mustika Ratu 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 Mustika Ratu Tbk Shiller PE Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Mustika Ratu Tbk's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where PT Mustika Ratu Tbk's Shiller PE Ratio falls into.


ISX:MRAT
60GF Score
PT Mustika Ratu Tbk ISX:MRAT
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Mustika Ratu 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 Mustika Ratu Tbk's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=5.53/137.6954*137.6954
=5.530

Current CPI (Jun. 2026) = 137.6954.

PT Mustika Ratu Tbk Quarterly Data

per share eps CPI Adj_EPS
201609 -14.244 104.142 -18.833
201612 0.000 105.222 0.000
201703 1.000 106.476 1.293
201706 1.000 107.722 1.278
201709 1.000 108.020 1.275
201712 -6.580 109.017 -8.311
201803 2.000 110.097 2.501
201806 0.000 111.085 0.000
201809 -0.588 111.135 -0.729
201812 -7.270 112.430 -8.904
201903 -5.820 112.829 -7.103
201906 11.165 114.730 13.400
201909 0.042 114.905 0.050
201912 -5.080 115.486 -6.057
202003 2.910 116.252 3.447
202006 0.479 116.630 0.566
202009 -1.996 116.397 -2.361
202012 -17.214 117.318 -20.204
202103 4.480 117.840 5.235
202106 0.798 118.184 0.930
202109 -4.514 118.262 -5.256
202112 0.050 119.516 0.058
202203 0.730 120.948 0.831
202206 -23.874 123.322 -26.656
202209 -18.576 125.298 -20.414
202212 200.198 126.098 218.611
202303 0.086 126.953 0.093
202306 0.001 127.663 0.001
202309 0.108 128.151 0.116
202312 -33.233 129.395 -35.365
202403 0.367 130.607 0.387
202406 0.339 130.792 0.357
202409 -0.200 130.361 -0.211
202412 -12.569 131.432 -13.168
202503 0.640 131.948 0.668
202506 0.260 133.241 0.269
202509 0.090 133.819 0.093
202512 -0.040 135.271 -0.041
202603 1.870 136.539 1.886
202606 5.530 137.695 5.530

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 Rp8.97 mean?
PT Mustika Ratu Tbk (ISX:MRAT) has a E10 of Rp8.97 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on PT Mustika Ratu Tbk and its competitors.
Is PT Mustika Ratu Tbk's E10 too high?
PT Mustika Ratu Tbk's current E10 is Rp8.97. Overall, PT Mustika Ratu Tbk has a GF Score™ of 60/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Mustika Ratu Tbk's E10 compare to PG and CL?
PT Mustika Ratu Tbk's E10 of Rp8.97 can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good E10 depends on the Consumer Packaged Goods 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 Mustika Ratu Tbk and its competitors. PT Mustika Ratu Tbk's current E10 is Rp8.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Mustika Ratu Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Mustika Ratu Tbk (ISX:MRAT) is currently considered Significantly Undervalued. The stock's GF Value™ is Rp588.85, compared to a current price of Rp414.00 — trading 29.7% below its estimated fair value. The current E10 is Rp8.97. PT Mustika Ratu Tbk's overall GF Score™ is 60/100 with 4 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 Mustika Ratu Tbk (ISX:MRAT), the current E10 is Rp8.97 as of Jun. 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 Mustika Ratu Tbk (ISX:MRAT) Overvalued in 2026?

Based on GuruFocus' analysis, PT Mustika Ratu Tbk stock appears to be undervalued. The current stock price of Rp414.00 is trading 29.7% below its estimated GF Value™ of Rp588.85. GuruFocus considers PT Mustika Ratu Tbk to be Significantly Undervalued.

Key valuation signals for ISX:MRAT:

  • E10: Rp8.97
  • GF Value™: Rp588.85 vs. price of Rp414.00 (29.7% below fair value)
  • GF Score™: 60/100 with 4 warning signs

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


PT Mustika Ratu Tbk Business Description

Address Jalan Gatot Subroto Kav 74-75, Graha Mustika Ratu, Penthouse Floor, Jakarta, IDN, 12870
PT Mustika Ratu Tbk is a manufacturer of traditional cosmetics and herbal products. The scope of the company's activity includes fabrication, trade, and distribution of herbs, cosmetics, and healthy drinks as well as other related business activities. The company's operating segments consist of Manufacturing; and Trading, services and distribution. The company generates the majority of its revenue from the Manufacturing segment. The company caters to both domestic and international markets. The company provides its products under the brands Mustika Ratu, Mustika Puteri, Bask, Taman Sari, Java Princess, and Ratu Mas.
60GF Score

Get the complete analysis for ISX:MRAT

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

Rp414.00
Price
Rp588.85
GF Value