PT Merdeka Battery Materials Tbk (ISX:MBMA) Enterprise Value: Rp79,881,556 Mil (As of Jun. 28, 2026) ***


ISX:MBMA PT Merdeka Battery Materials Tbk ISX:MBMA
53 GF Score
Price Rp496.00
GF Value Rp811.02
Valuation Significantly Undervalued
! 6 Warning Signs
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What is PT Merdeka Battery Materials Tbk Enterprise Value?

PT Merdeka Battery Materials Tbk ISX:MBMA -1.78% 53 Enterprise Value is Rp79,881,556 Mil as of Jun. 28, 2026. GuruFocus rates ISX:MBMA with a GF Score™ of 53/100 and a GF Value™ of Rp811.02 (Significantly Undervalued). The stock has 6 warning signs investors should review.

Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.

EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, PT Merdeka Battery Materials Tbk's Enterprise Value is Rp79,881,556 Mil. PT Merdeka Battery Materials Tbk's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was Rp2,198,869 Mil. Therefore, PT Merdeka Battery Materials Tbk's EV-to-EBIT ratio for today is 36.33.

EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, PT Merdeka Battery Materials Tbk's Enterprise Value is Rp79,881,556 Mil. PT Merdeka Battery Materials Tbk's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was Rp2,215,378 Mil. Therefore, PT Merdeka Battery Materials Tbk's EV-to-EBITDA ratio for today is 36.06.

EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, PT Merdeka Battery Materials Tbk's Enterprise Value is Rp79,881,556 Mil. PT Merdeka Battery Materials Tbk's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was Rp23,714,163 Mil. Therefore, PT Merdeka Battery Materials Tbk's EV-to-Revenue ratio for today is 3.37.

EV-to-OCF is calculated as Enterprise Value divided by its Cash Flow from Operations. As of today, PT Merdeka Battery Materials Tbk's Enterprise Value is Rp79,881,556 Mil. PT Merdeka Battery Materials Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was Rp617,192 Mil. Therefore, PT Merdeka Battery Materials Tbk's EV-to-OCF ratio for today is 129.43.

EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, PT Merdeka Battery Materials Tbk's Enterprise Value is Rp79,881,556 Mil. PT Merdeka Battery Materials Tbk's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was Rp-2,571,995 Mil. Therefore, PT Merdeka Battery Materials Tbk's EV-to-FCF ratio for today is -31.06.

*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.


PT Merdeka Battery Materials Tbk  (ISX:MBMA) Enterprise Value Explanation

When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.

If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.

The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.

For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.

Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.

1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.

PT Merdeka Battery Materials Tbk's EV-to-EBIT for today is

EV-to-EBIT=Enterprise Value (Today)/EBIT (TTM)
=79881555.638/2198868.889
=36.33

PT Merdeka Battery Materials Tbk's current Enterprise Value is Rp79,881,556 Mil.
PT Merdeka Battery Materials Tbk's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp2,198,869 Mil.

2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.

PT Merdeka Battery Materials Tbk's EV-to-EBITDA for today is:

EV-to-EBITDA=Enterprise Value (Today)/EBITDA(TTM)
=79881555.638/2215377.799
=36.06

PT Merdeka Battery Materials Tbk's current Enterprise Value is Rp79,881,556 Mil.
PT Merdeka Battery Materials Tbk's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp2,215,378 Mil.

3. EV-to-Revenue is calculated as Enterprise Value divided by its Revenue.

PT Merdeka Battery Materials Tbk's EV-to-Revenue for today is:

EV-to-Revenue=Enterprise Value (Today)/Revenue (TTM)
=79881555.638/23714163.054
=3.37

PT Merdeka Battery Materials Tbk's current Enterprise Value is Rp79,881,556 Mil.
PT Merdeka Battery Materials Tbk's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp23,714,163 Mil.

4. EV-to-OCF is calculated as Enterprise Value divided by its Cash Flow from Operations.

PT Merdeka Battery Materials Tbk's EV-to-OCF for today is:

EV-to-OCF=Enterprise Value (Today)/Cash Flow from Operations (TTM)
=79881555.638/617191.652
=129.43

PT Merdeka Battery Materials Tbk's current Enterprise Value is Rp79,881,556 Mil.
PT Merdeka Battery Materials Tbk's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp617,192 Mil.

5. EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow.

PT Merdeka Battery Materials Tbk's EV-to-FCF for today is:

EV-to-FCF=Enterprise Value (Today)/Free Cash Flow (TTM)
=79881555.638/-2571994.983
=-31.06

PT Merdeka Battery Materials Tbk's current Enterprise Value is Rp79,881,556 Mil.
PT Merdeka Battery Materials Tbk's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp-2,571,995 Mil.

* 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 Battery Materials Tbk Enterprise Value Related Terms


PT Merdeka Battery Materials Tbk Enterprise Value Historical Data

* Premium members only.

The historical data trend for PT Merdeka Battery Materials Tbk's Enterprise Value 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 Battery Materials Tbk Enterprise Value Chart

PT Merdeka Battery Materials Tbk Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Enterprise Value
Get a 7-Day Free Trial 0.00 0.00 75,680,064.10 69,262,448.86 86,897,571.54

PT Merdeka Battery Materials Tbk Quarterly Data
Dec19 Dec20 Dec21 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Enterprise Value 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 69,262,448.86 54,898,066.06 71,607,982.43 94,826,618.01 86,897,571.54

ISX:MBMA vs HL, SIND: Enterprise Value Comparison

For the Other Precious Metals & Mining subindustry, PT Merdeka Battery Materials Tbk's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Battery Materials Tbk Enterprise Value vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, PT Merdeka Battery Materials Tbk's Enterprise Value distribution charts can be found below:

* The bar in red indicates where PT Merdeka Battery Materials Tbk's Enterprise Value falls into.


ISX:MBMA
53GF Score
PT Merdeka Battery Materials Tbk ISX:MBMA
Enterprise Value is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Merdeka Battery Materials Tbk Enterprise Value Calculation

Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.

PT Merdeka Battery Materials Tbk's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as

Enterprise Value (A: Dec. 2025 )
=Market Cap+Preferred Stock+Long-Term Debt & Capital Lease Obligation
=61557389.4+0+11904562.215
+Short-Term Debt & Capital Lease Obligation+Minority Interest-Cash, Cash Equivalents, Marketable Securities
+3882685.904+12771378.02-3218443.999
=86,897,572

PT Merdeka Battery Materials Tbk's Enterprise Value for the quarter that ended in Dec. 2025 is calculated as

Enterprise Value (Q: Dec. 2025 )
=Market Cap+Preferred Stock+Long-Term Debt & Capital Lease Obligation
=61557389.4+0+11904562.215
+Short-Term Debt & Capital Lease Obligation+Minority Interest-Cash, Cash Equivalents, Marketable Securities
+3882685.904+12771378.02-3218443.999
=86,897,572

* 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.

Frequently Asked Questions Learn more about Enterprise Value →
What does a Enterprise Value of Rp79,881,556 Mil mean?
PT Merdeka Battery Materials Tbk (ISX:MBMA) has a Enterprise Value of Rp79,881,556 Mil as of Jun. 28, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on PT Merdeka Battery Materials Tbk and its competitors.
Is PT Merdeka Battery Materials Tbk's Enterprise Value too high?
PT Merdeka Battery Materials Tbk's current Enterprise Value is Rp79,881,556 Mil. Overall, PT Merdeka Battery Materials Tbk has a GF Score™ of 53/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Merdeka Battery Materials Tbk's Enterprise Value compare to HL and SIND?
PT Merdeka Battery Materials Tbk's Enterprise Value of Rp79,881,556 Mil 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 Enterprise Value for a Metals & Mining company?
A good Enterprise Value depends on the Metals & Mining industry context. However, Enterprise Value 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 Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on PT Merdeka Battery Materials Tbk and its competitors. PT Merdeka Battery Materials Tbk's current Enterprise Value is Rp79,881,556 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Merdeka Battery Materials Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Merdeka Battery Materials Tbk (ISX:MBMA) is currently considered Significantly Undervalued. The stock's GF Value™ is Rp811.02, compared to a current price of Rp496.00 — trading 38.8% below its estimated fair value. The current Enterprise Value is Rp79,881,556 Mil. PT Merdeka Battery Materials Tbk's overall GF Score™ is 53/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For PT Merdeka Battery Materials Tbk (ISX:MBMA), the current Enterprise Value is Rp79,881,556 Mil as of Jun. 28, 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 Battery Materials Tbk (ISX:MBMA) Overvalued in 2026?

Based on GuruFocus' analysis, PT Merdeka Battery Materials Tbk stock appears to be undervalued. The current stock price of Rp496.00 is trading 38.8% below its estimated GF Value™ of Rp811.02. GuruFocus considers PT Merdeka Battery Materials Tbk to be Significantly Undervalued.

Key valuation signals for ISX:MBMA:

  • Enterprise Value: Rp79,881,556 Mil
  • GF Value™: Rp811.02 vs. price of Rp496.00 (38.8% below fair value)
  • GF Score™: 53/100 with 6 warning signs

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


PT Merdeka Battery Materials Tbk Business Description

Address Jalan Jenderal Sudirman Kav. 52-53, Treasury Tower Building, 69th Floor, District 8 SCBD Lot. 28, South Jakarta, Jakarta, IDN, 12190
PT Merdeka Battery Materials Tbk is an integrated battery materials and nickel processing company focused on the electric vehicle (EV) battery value chain in Indonesia. The company engages in nickel mining, smelting, and downstream battery material processing activities. Its business operations include the SCM Mine, RKEF smelters, Nickel Matte operations, AIM Project, IKIP industrial area development, and HPAL projects. The company operates through Mining, Manufacturing, and Other segments, with the majority of revenue generated from the Manufacturing segment.
53GF Score

Get the complete analysis for ISX:MBMA

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

Rp496.00
Price
Rp811.02
GF Value