PT Merdeka Copper Gold Tbk (ISX:MDKA) Scaled Net Operating Assets: 0.85 (As of Mar. 2026)

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ISX:MDKA PT Merdeka Copper Gold Tbk ISX:MDKA
93 GF Score
Price Rp2,650.00
GF Value Rp3,367.98
Valuation Modestly Undervalued
! 6 Warning Signs
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What is PT Merdeka Copper Gold Tbk Scaled Net Operating Assets?

PT Merdeka Copper Gold Tbk ISX:MDKA -4.68% 93 Scaled Net Operating Assets is 0.85 as of Mar. 2026. GuruFocus rates ISX:MDKA with a GF Score™ of 93/100 and a GF Value™ of Rp3,367.98 (Modestly Undervalued). The stock has 6 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 Merdeka Copper Gold Tbk's operating assets for the quarter that ended in Mar. 2026 was Rp92,425,909 Mil. PT Merdeka Copper Gold Tbk's operating liabilities for the quarter that ended in Mar. 2026 was Rp11,464,372 Mil. PT Merdeka Copper Gold Tbk's Total Assets for the quarter that ended in Dec. 2025 was Rp95,354,600 Mil. Therefore, PT Merdeka Copper Gold Tbk's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.85.


PT Merdeka Copper Gold Tbk Scaled Net Operating Assets Historical Data

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The historical data trend for PT Merdeka Copper Gold 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 Merdeka Copper Gold Tbk Scaled Net Operating Assets Chart

PT Merdeka Copper Gold 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 1.01 2.51 0.97 0.87 0.92

PT Merdeka Copper Gold Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.84 0.82 0.87 0.83 0.85

PT Merdeka Copper Gold Tbk Scaled Net Operating Assets Competitor Comparison

For the Other Industrial Metals & Mining subindustry, PT Merdeka Copper Gold 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 Merdeka Copper Gold Tbk Scaled Net Operating Assets vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, PT Merdeka Copper Gold Tbk's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where PT Merdeka Copper Gold Tbk's Scaled Net Operating Assets falls into.


ISX:MDKA
93GF Score
PT Merdeka Copper Gold Tbk ISX:MDKA
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Merdeka Copper Gold 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 Merdeka Copper Gold 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 )
=(89060073.812-12057348.881)/83980603.075
=0.92

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=95354600.391 - 6294526.579
=89060073.812

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=46488646.673 - 24962784.877 - 9468512.915
=12057348.881

PT Merdeka Copper Gold Tbk's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(92425908.683-11464372.175)/95354600.391
=0.85

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=102030066.532 - 9604157.849
=92425908.683

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=50313023.752 - 26756589.751 - 12092061.826
=11464372.175

* 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 0.85 mean?
PT Merdeka Copper Gold Tbk (ISX:MDKA) has a Scaled Net Operating Assets of 0.85 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on PT Merdeka Copper Gold Tbk and its competitors.
Is PT Merdeka Copper Gold Tbk's Scaled Net Operating Assets too high?
PT Merdeka Copper Gold Tbk's current Scaled Net Operating Assets is 0.85. Overall, PT Merdeka Copper Gold Tbk has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Merdeka Copper Gold Tbk's Scaled Net Operating Assets compare to competitors?
PT Merdeka Copper Gold Tbk's Scaled Net Operating Assets of 0.85 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 Scaled Net Operating Assets for a Metals & Mining company?
A good Scaled Net Operating Assets depends on the Metals & Mining 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 Merdeka Copper Gold Tbk and its competitors. PT Merdeka Copper Gold Tbk's current Scaled Net Operating Assets is 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Merdeka Copper Gold Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Merdeka Copper Gold Tbk (ISX:MDKA) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp3,367.98, compared to a current price of Rp2,650.00 — trading 21.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.85. PT Merdeka Copper Gold Tbk's overall GF Score™ is 93/100 with 6 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 Merdeka Copper Gold Tbk (ISX:MDKA), the current Scaled Net Operating Assets is 0.85 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 Copper Gold Tbk (ISX:MDKA) Overvalued in 2026?

Based on GuruFocus' analysis, PT Merdeka Copper Gold Tbk stock appears to be undervalued. The current stock price of Rp2,650.00 is trading 21.3% below its estimated GF Value™ of Rp3,367.98. GuruFocus considers PT Merdeka Copper Gold Tbk to be Modestly Undervalued.

Key valuation signals for ISX:MDKA:

  • Scaled Net Operating Assets: 0.85
  • GF Value™: Rp3,367.98 vs. price of Rp2,650.00 (21.3% below fair value)
  • GF Score™: 93/100 with 6 warning signs

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


PT Merdeka Copper Gold Tbk Business Description

Other Exchanges B0C:Germany
Address Jalan Jenderal Sudirman Kav. 52-53, Treasury Tower, 67th-68th Floor, District 8 SCBD Lot. 28, Senayan, Kebayoran Baru, South Jakarta, Jakarta, IDN, 12190
PT Merdeka Copper Gold Tbk is a holding company. Along with its subsidiary, the company engages in the field of mining and other management consultancy activities. The company's gold projects consist of the Tujuh Bukit Gold Mine and the Pani Gold Project. The copper projects include Wetar Copper Mine and Tujuh Bukit Copper Project. The Nickel project comprises SCM Mine, RKEF Smelters, Nickel Matte Converter, AIM Project, HPAL Facilities, and IKIP. The majority of the company's revenue is generated by the Nickel segment.
93GF Score

Get the complete analysis for ISX:MDKA

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

Rp2,650.00
Price
Rp3,367.98
GF Value