PT Merdeka Battery Materials Tbk (ISX:MBMA) ROCE %: 13.96% (As of Mar. 2026)


ISX:MBMA PT Merdeka Battery Materials Tbk ISX:MBMA
49 GF Score
Price Rp494.00
GF Value Rp801.40
Valuation Significantly Undervalued
! 5 Warning Signs
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What is PT Merdeka Battery Materials Tbk ROCE %?

PT Merdeka Battery Materials Tbk ISX:MBMA -0.40% 49 ROCE % is 13.96% as of Mar. 2026. GuruFocus rates ISX:MBMA with a GF Score™ of 49/100 and a GF Value™ of Rp801.40 (Significantly Undervalued). The stock has 5 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. PT Merdeka Battery Materials Tbk's annualized ROCE % for the quarter that ended in Mar. 2026 was 13.96%.

PT Merdeka Battery Materials Tbk  (ISX:MBMA) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

PT Merdeka Battery Materials Tbk ROCE % Related Terms

PT Merdeka Battery Materials Tbk ROCE % Historical Data

* Premium members only.

The historical data trend for PT Merdeka Battery Materials Tbk's ROCE % 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 ROCE % Chart

PT Merdeka Battery Materials Tbk Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial 0.29 5.21 2.02 3.35 4.38

PT Merdeka Battery Materials Tbk Quarterly Data
Dec19 Dec20 Dec21 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 1.44 3.57 5.30 6.98 13.96
ISX:MBMA
49GF Score
PT Merdeka Battery Materials Tbk ISX:MBMA
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Merdeka Battery Materials Tbk ROCE % Calculation

PT Merdeka Battery Materials Tbk's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=2220544.084/( ( (55086577.379 - 6725165.329) + (62406694.879 - 9345815.784) )/ 2 )
=2220544.084/( (48361412.05+53060879.095)/ 2 )
=2220544.084/50711145.5725
=4.38 %

PT Merdeka Battery Materials Tbk's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=7595388.444/( ( (62406694.879 - 9345815.784) + (67180416.124 - 11407184.818) )/ 2 )
=7595388.444/( ( 53060879.095 + 55773231.306 )/ 2 )
=7595388.444/54417055.2005
=13.96 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 13.96% mean?
PT Merdeka Battery Materials Tbk (ISX:MBMA) has a ROCE % of 13.96% as of Mar. 2026.
Is PT Merdeka Battery Materials Tbk's ROCE % too high?
PT Merdeka Battery Materials Tbk's current ROCE % is 13.96%. Overall, PT Merdeka Battery Materials Tbk has a GF Score™ of 49/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Merdeka Battery Materials Tbk's ROCE % compare to HL and SIND?
PT Merdeka Battery Materials Tbk's ROCE % of 13.96% 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 ROCE % for a Metals & Mining company?
A good ROCE % depends on the Metals & Mining industry context. However, ROCE % 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. PT Merdeka Battery Materials Tbk's current ROCE % is 13.96%. 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 Rp801.40, compared to a current price of Rp494.00 — trading 38.4% below its estimated fair value. The current ROCE % is 13.96%. PT Merdeka Battery Materials Tbk's overall GF Score™ is 49/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For PT Merdeka Battery Materials Tbk (ISX:MBMA), the current ROCE % is 13.96% 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 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 Rp494.00 is trading 38.4% below its estimated GF Value™ of Rp801.40. GuruFocus considers PT Merdeka Battery Materials Tbk to be Significantly Undervalued.

Key valuation signals for ISX:MBMA:

  • ROCE %: 13.96%
  • GF Value™: Rp801.40 vs. price of Rp494.00 (38.4% below fair value)
  • GF Score™: 49/100 with 5 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.
49GF Score

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

Rp494.00
Price
Rp801.40
GF Value