PT Mulia Boga Raya Tbk (ISX:KEJU) Scaled Net Operating Assets: 0.59 (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:KEJU PT Mulia Boga Raya Tbk ISX:KEJU
86 GF Score
Price Rp565.00
GF Value Rp654.61
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is PT Mulia Boga Raya Tbk Scaled Net Operating Assets?

PT Mulia Boga Raya Tbk ISX:KEJU -5.04% 86 Scaled Net Operating Assets is 0.59 as of Jun. 2026. GuruFocus rates ISX:KEJU with a GF Score™ of 86/100 and a GF Value™ of Rp654.61 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

PT Mulia Boga Raya Tbk's operating assets for the quarter that ended in Jun. 2026 was Rp1,171,410 Mil. PT Mulia Boga Raya Tbk's operating liabilities for the quarter that ended in Jun. 2026 was Rp384,908 Mil. PT Mulia Boga Raya Tbk's Total Assets for the quarter that ended in Mar. 2026 was Rp1,326,657 Mil. Therefore, PT Mulia Boga Raya Tbk's scaled net operating assets (SNOA) for the quarter that ended in Jun. 2026 was 0.59.


PT Mulia Boga Raya Tbk Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for PT Mulia Boga Raya Tbk's Scaled Net Operating Assets 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 Mulia Boga Raya Tbk Scaled Net Operating Assets Chart

PT Mulia Boga Raya Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.65 0.75 0.60 0.55 0.60

PT Mulia Boga Raya Tbk Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Scaled Net Operating Assets 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 0.42 0.49 0.51 0.49 0.59

ISX:KEJU vs KHC, GIS: Scaled Net Operating Assets Comparison

For the Packaged Foods subindustry, PT Mulia Boga Raya Tbk's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Mulia Boga Raya Tbk Scaled Net Operating Assets vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Mulia Boga Raya Tbk's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where PT Mulia Boga Raya Tbk's Scaled Net Operating Assets falls into.


ISX:KEJU
86GF Score
PT Mulia Boga Raya Tbk ISX:KEJU
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Mulia Boga Raya Tbk Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

PT Mulia Boga Raya Tbk's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(992706.652-406394.446)/974057.857
=0.60

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1251481.881 - 258775.229
=992706.652

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=406394.446 - 0 - 0
=406394.446

PT Mulia Boga Raya Tbk's Scaled Net Operating Assets (SNOA) for the quarter that ended in Jun. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Jun. 2026 )
=(Operating Assets (Q: Jun. 2026 )-Operating Liabilities (Q: Jun. 2026 ))/Total Assets (Q: Mar. 2026 )
=(1171409.554-384908.152)/1326657.204
=0.59

where

Operating Assets(Q: Jun. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1338082.633 - 166673.079
=1171409.554

Operating Liabilities(Q: Jun. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=484908.152 - 80000 - 20000
=384908.152

* 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.

What does a Scaled Net Operating Assets of 0.59 mean?
PT Mulia Boga Raya Tbk (ISX:KEJU) has a Scaled Net Operating Assets of 0.59 as of Jun. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on PT Mulia Boga Raya Tbk and its competitors.
Is PT Mulia Boga Raya Tbk's Scaled Net Operating Assets too high?
PT Mulia Boga Raya Tbk's current Scaled Net Operating Assets is 0.59. Overall, PT Mulia Boga Raya Tbk has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Mulia Boga Raya Tbk's Scaled Net Operating Assets compare to KHC and GIS?
PT Mulia Boga Raya Tbk's Scaled Net Operating Assets of 0.59 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 Scaled Net Operating Assets for a Consumer Packaged Goods company?
A good Scaled Net Operating Assets depends on the Consumer Packaged Goods industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on PT Mulia Boga Raya Tbk and its competitors. PT Mulia Boga Raya Tbk's current Scaled Net Operating Assets is 0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Mulia Boga Raya Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Mulia Boga Raya Tbk (ISX:KEJU) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp654.61, compared to a current price of Rp565.00 — trading 13.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.59. PT Mulia Boga Raya Tbk's overall GF Score™ is 86/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For PT Mulia Boga Raya Tbk (ISX:KEJU), the current Scaled Net Operating Assets is 0.59 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 Mulia Boga Raya Tbk (ISX:KEJU) Overvalued in 2026?

Based on GuruFocus' analysis, PT Mulia Boga Raya Tbk stock appears to be undervalued. The current stock price of Rp565.00 is trading 13.7% below its estimated GF Value™ of Rp654.61. GuruFocus considers PT Mulia Boga Raya Tbk to be Modestly Undervalued.

Key valuation signals for ISX:KEJU:

  • Scaled Net Operating Assets: 0.59
  • GF Value™: Rp654.61 vs. price of Rp565.00 (13.7% below fair value)
  • GF Score™: 86/100 with 4 warning signs

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


PT Mulia Boga Raya Tbk Business Description

Address Jl. Inti Raya II, Blok C.7 No. 5-A, Cibatu Cikarang Selatan, Bekasi, IDN, 11610
PT Mulia Boga Raya Tbk is a manufacturer and marketer of various types of cheese products. Its products portfolio includes Prochiz Premium Cheddar, Prochiz Cheddar Slice, Prochiz Gold Cheddar, Prochiz Gold Cheddar, Prochiz Spready, Prochiz Quick Melt, Prochiz Mayo, Prochiz Cheese Snack etc. Its product-based segment comprises of block cheese, sliced cheese and others out of which block cheese derive majority revenue.
86GF Score

Get the complete analysis for ISX:KEJU

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

Rp565.00
Price
Rp654.61
GF Value