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  3. •

    Other metals/Minerals
PT Merdeka Battery Materials Tbk

PT Merdeka Battery Materials Tbk

IIDX:MBMA
362.00
IDR
+16.00
(+4.62%)
27.75EPS
73.67P/E
78.84TMarket Cap
Dec 23Next Earn
PT Merdeka Battery Materials Tbk
IDX:MBMA
(Indonesia Stock Exchange)

Recent

price

362.00

P/E

ratio

73.67

div

yld

- -

ROIC.AI

2019
2020
2021
2022
2022
2023
2024
2025
TTM
USD
- -
- -
- -
- -
- -
0.01
0.02
0.01
0.01
Revenue per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic EPS, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
- -
- -
0.01
0.01
0.01
0.01
0.01
0.01
Book Value per Share
- -
- -
- -
- -
0.01
0.01
0.01
0.01
0.01
Tangible Book Value per Share
107,995
107,445
107,445
107,995
107,445
104,563
107,995
107,995
107,995
Basic Weighted Avg Shares
- -
- -
- -
- -
456
1,328
1,845
1,435
1,524
Sales/Revenue/Turnover
- -
- -
- -
- -
6.62
3.55
4.31
9.13
15.28
Operating Margin (%)
- -
- -
- -
- -
1
1
1
1
1
Depreciation Expense
- -
- -
- -
- -
22
7
23
30
63
Net Income, GAAP
- -
- -
- -
- -
- -
0.49
11.77
10.7
12.02
Effective Tax Rate (%)
- -
- -
- -
- -
4.75
0.52
1.23
2.06
4.13
Profit Margin (%)
- -
- -
- -
159
305
426
385
346
402
Working Capital
- -
- -
- -
368
595
490
559
713
728
LT Debt
15
11
- -
1,337
1,559
2,309
2,349
2,348
2,441
Total Equity
- -
- -
-0.1
- -
- -
1.9
2.41
3.69
6.11
Return on Invested Capital (%)
- -
- -
0.29
- -
- -
-0.03
-0.93
-0.73
-0.62
Return on Capital (%)
- -
-0.16
0.29
- -
2.45
0.56
1.48
1.88
3.97
Return on Common Equity (%)

Capital Structure

USD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
346
232
383
LT Borrowings
563
711
726
LT Finance Leases
1
2
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
107,995
107,995
107,995
Market Capitalization
4,174
3,669
4,639

Working Capital

USD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
802
905
1,076
Cash, Cash Equivalents & STI
176
193
350
Accounts Receivable, Net
239
290
265
Inventories
215
232
283
Total Current Liabilities
558
559
674
Payables & Accruals
- -
- -
- -
ST Debt
346
232
383
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
158,075.29%
-0.05%
Free Cash Flow
- -
- -
- -
Net Income, GAAP
- -
- -
29.77%
Sales/Revenue/Turnover
- -
- -
-22.24%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
444
477
458
465
1,845
2025
366
262
307
500
1,435
2026
455
- -
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
PT Merdeka Battery Materials Tbk is an Indonesia-based vertically integrated mining and mineral processing company focused on the extraction, refining, and supply of critical materials for the global electric vehicle battery and stainless steel manufacturing industries. Founded in 2019 and headquartered in South Jakarta, Indonesia, the company operates as a key subsidiary of PT Merdeka Copper Gold Tbk, maintaining large-scale upstream mining concessions in Southeast Sulawesi and integrated downstream processing assets within the Indonesia Morowali Industrial Park in Central Sulawesi. The company operates across multiple specialized segments encompassing nickel ore mining, pyrometallurgical smelting, hydrometallurgical processing, and industrial chemical manufacturing. Its primary products and services include saprolite and limonite nickel ores mined from the Sulawesi Cahaya Mineral concession; nickel pig iron produced via rotary kiln electric furnace smelters operated through PT Bukit Smelter Indonesia, PT Cahaya Smelter Indonesia, and PT Zhao Hui Nickel; low-grade and high-grade nickel matte for conversion into battery-grade chemicals; mixed hydroxide precipitate produced via high pressure acid leach processing; and industrial chemicals and by-products, including sulfuric acid, iron ore pellets, copper sponge, and industrial steam manufactured through the Acid Iron Metal project. In recent major strategic developments, the company completed a landmark initial public offering on the Indonesia Stock Exchange to finance its downstream value-chain integration. Operational expansions and corporate initiatives include the acquisition of a controlling equity stake in PT Huaneng New Metal Industry to convert low-grade matte into high-grade nickel matte, the commercial commissioning of the Zhao Hui Nickel smelter facility, the formation of a joint venture with GEM Co., Ltd. to construct the PT ESG New Energy Material high pressure acid leach plant for mixed hydroxide precipitate production, and the commissioning of dedicated heavy-haul road infrastructure connecting the Sulawesi Cahaya Mineral mine directly to coastal industrial processing hubs.