ISX:MBMA'
s PB Ratio Range Over the Past 10 Years
Min: 1.07 Med: 2.43 Max: 3.6
Current: 2.05
During the past 7 years, PT Merdeka Battery Materials Tbk's highest PB Ratio was 3.60. The lowest was 1.07. And the median was 2.43.
ISX:MBMA's PB Ratio is ranked better than 53.44% of 2358
companies
in the Metals & Mining industry
Industry Median: 2.25
vs ISX:MBMA: 2.05
During the past 12 months, PT Merdeka Battery Materials Tbk's average Book Value Per Share Growth Rate was 6.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 21.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 367.40% per year.
During the past 7 years, the highest 3-Year average Book Value Per Share Growth Rate of PT Merdeka Battery Materials Tbk was 2089.20% per year. The lowest was 21.00% per year. And the median was 375.40% per year.
Back to Basics: PB Ratio
PT Merdeka Battery Materials Tbk (ISX:MBMA) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
PT Merdeka Battery Materials Tbk PB Ratio Related Terms
PT Merdeka Battery Materials Tbk PB Ratio Historical Data
* 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.
For the Other Precious Metals & Mining subindustry, PT Merdeka Battery Materials Tbk's PB Ratio, along with its competitors' market caps and PB 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 Battery Materials Tbk PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, PT Merdeka Battery Materials Tbk's PB Ratio distribution charts can be found below:
* The bar in red indicates where PT Merdeka Battery Materials Tbk's PB Ratio falls into.
PT Merdeka Battery Materials Tbk PB Ratio Calculation
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
PT Merdeka Battery Materials Tbk (ISX:MBMA) has a PB Ratio of 2.06 as of Jun. 26, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on PT Merdeka Battery Materials Tbk and its competitors. This is 15% below median its historical median of 2.43. Over the past decade, PT Merdeka Battery Materials Tbk's PB Ratio has ranged from 1.07 to 3.60. According to the industry distribution chart, PT Merdeka Battery Materials Tbk ranks #1098 out of 2358 companies in the Metals & Mining industry, placing it in the top 46.6%.
Is PT Merdeka Battery Materials Tbk's PB Ratio too high?
PT Merdeka Battery Materials Tbk's current PB Ratio of 2.06 is 15% below median its 10-year median of 2.43. Over the past 10 years, this metric has ranged from a low of 1.07 to a high of 3.60. The Metals & Mining industry median PB Ratio is 2.25. PT Merdeka Battery Materials Tbk's value of 2.06 is 8.4% below this industry median. Based on the distribution chart, PT Merdeka Battery Materials Tbk ranks #1098 out of 2358 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, PT Merdeka Battery Materials Tbk has a GF Score™ of 54/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Merdeka Battery Materials Tbk's PB Ratio compare to HL?
According to the Metals & Mining industry distribution chart, PT Merdeka Battery Materials Tbk ranks #1098 out of 2358 companies for PB Ratio. This puts PT Merdeka Battery Materials Tbk in the upper half of its industry. The industry median PB Ratio is 2.25. PT Merdeka Battery Materials Tbk's value of 2.06 is 8.4% below this benchmark. Historically, PT Merdeka Battery Materials Tbk's own PB Ratio has ranged from 1.07 to 3.60 over the past decade. While the company's 10-year median is 2.43 vs. the industry median of 2.25, PT Merdeka Battery Materials Tbk has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Metals & Mining company?
The median PB Ratio among Metals & Mining companies is 2.25, based on 2,358 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PT Merdeka Battery Materials Tbk's current PB Ratio of 2.06 is 8.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on PT Merdeka Battery Materials Tbk and its competitors. For the Metals & Mining industry, the median PB Ratio is 2.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Merdeka Battery Materials Tbk's current PB Ratio is 2.06, which is 15% below median its own 10-year median of 2.43. 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 Rp505.00 — trading 37.7% below its estimated fair value. The current PB Ratio is 2.06, which is 15% below median its 10-year median of 2.43 and 8.4% below the Metals & Mining industry median of 2.25. PT Merdeka Battery Materials Tbk's overall GF Score™ is 54/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For PT Merdeka Battery Materials Tbk (ISX:MBMA), the current PB Ratio is 2.06 as of Jun. 26, 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 Rp505.00 is trading 37.7% 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:
PB Ratio: 2.06 (15% below median its 10-year median of 2.43)
GF Value™: Rp811.02 vs. price of Rp505.00 (37.7% below fair value)
Industry Position: 8.4% below the Metals & Mining median (#1098 of 2358)
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
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.
54GF Score
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