Frontierby eninvs

Language: EN · RU

← Region

Bukit Asam (PTBA) IDR

PT Bukit Asam (Persero) Tbk is an Indonesian coal mining company that engages in exploration, extraction, processing, and transportation of coal, as well as operating coal-fired power plants and mining coal methane gas.

At a glance: strengths & risks
✓Profit growing (+57881%)✓Margins improving (0%→12%)✓Net cash balance sheet✓61-year reserve life✓Commodity price +25% vs 1-yr · +8% vs 3-yr✓Model upside +30%

Sector: Coal mining

ID_PTBA

Price chart

3 080 IDRDay -0.65%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
3 080 IDR · -0.65%
Market cap
35464.3 bn IDR

Growth

Δ revenue y/y
-0.3%
Δ EBITDA y/y
—

Multiples

P/E (LTM)
6.3x
P/B (FY)
1.6x
EV/EBITDA (LTM)
4.0x

Cash return

Dividend yield
3.7%
FCF yield (LTM)
0.0%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+30.3%
↓ details

Liquidity

Daily turnover (listing)
159 bln IDR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B IDR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB IDROperating profitB IDRD&AB IDREBITDAB IDRNet profitB IDROperating CFB IDRCapex + M&AB IDRAssetsB IDREquityB IDRROE (annualized)Net debtB IDRSource
2026-06-30Q2 2026 (3M)OK12.1
y/y —
1.9
y/y —
0.4
y/y —
2.4
y/y —
1.8
y/y —
2.6-0.248.1
y/y —
25.2
y/y —
21.7%-3.9Report (PDF)
2026-03-31Q1 2026 (3M)OK9.9
y/y —
0.9
y/y —
0.5
y/y —
1.3
y/y —
0.8
y/y —
2.1-0.943.2
y/y —
23.5
y/y —
14.0%-1.5Report (PDF)
2025-12-31Q4 2025 (3M)OK11.3
y/y —
1.6
y/y —
0.5
y/y —
2.1
y/y —
1.6
y/y —
2.1-1.043.9
y/y 5.1%
22.6
y/y —
13.7%-0.7Report (PDF)
2025-09-30Q3 2025 (3M)OK31.3
y/y —
1.6
y/y —
1.5
y/y —
3.1
y/y —
1.4
y/y —
4.2-2.442.8
y/y —
20.7
y/y —
18.0%-0.3Report (PDF)
2024-12-31FY 2024 (12M)OK42.8
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0-1.641.8
y/y —
0.0
y/y —
—0.0Report (PDF)

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)346
Long-term debt (incl. LT leases)2 639
− Cash & equivalents6 876
Net debt-3 891

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 00040 0002024 FY2025 9M2025 q42026 q12026 q2

Cash flow

FCF ($ mln)

05001 0001 5002 0002 5002024 FY2025 9M2025 q42026 q12026 q2

Net debt / cash ($ mln)

-4 000-3 000-2 000-1 00002024 FY2025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2024–2025 operating cash flow came to 1.55x of reported net profit.
year20242025
cash flow / profit0.99x2.12x
accruals, % of assets0.0%-7.5%
Last twelve months (to 2026-06-30): 1.94x of profit came back as operating cash flow.
net debt / EBITDA -0.1x
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Coal

Proved reserves
2 883 Mt
2025
Reserve life (R/P)
61.1 yrs
reserves ÷ annual output
Annual production
47.19 Mt
2025

Production, Mt

41.90202343.30202447.192025

Proved reserves

YearReserves, Mt
20252 883
20242 980

Production

YearProduction, Mtper day, Mt
202547.19
+9.0%		0.13
202443.30
+3.3%		—
202341.90—

PTBA AR2025 (ptba.co.id, p.104): mineable reserves (KCMI) 2,883 Mt at 31.12.2025 (2024: 2,932); FY25 production 47.19 Mt (official release 01.04.2026; sales 45.43 Mt). Earlier points: PT Bukit Asam (PTBA) FY2024: record coal production 43.3 Mt, sales 42.9 Mt; proved+probable reserves ~2.98 Bt (PTBA Public Expose 2024 / ptba.co.id).

Indonesia — currency context

USD/IDR17606
1-week-0.1%
1-month-1.4%
room to 52w-weakest3.3%
DXY (dollar index)99.1
US 10Y4.93%

A weaker rupiah lowers the USD value of Indonesian equities for a foreign holder; for banks, BI's high policy rate (defending the currency) pressures margins.

as of 2026-09-11 (Yahoo)

Key-commodity price — Steam coal AU

Current 149spot vs LTM +12%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +30.3%

Main driver: Steam coal AU +25% vs LTM; revenue ×1.12 vs costs ×1.04; EBITDA 5 647 600→7 562 630; at 5.6× EV/EBITDA → +30%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Steam coal AU (rev)+47%149.20119.38129.36+25%+8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue44 055 800
LTM EBITDA5 647 600
LTM cash costs (revenue − EBITDA)38 408 200
2 · Revenue projection
Revenue multiplier — spot×1.117 (+12%)
= Spot revenue49 227 605
Revenue multiplier — 3y price×1.039 (+4%)
= 3-year-price revenue45 786 711
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs39 944 528
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs39 944 528
4 · EBITDA projection (revenue − costs)
= Spot EBITDA9 283 077
= 3-year-price EBITDA5 842 183
Conservative EBITDA = min(spot, avg)7 562 630
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)5.6x
Target EV = EV/EBITDA × conservative EBITDA42 626 300
Net debt-3 778 000
Target market cap = EV − net debt46 404 300
Current market cap35 610 351

Upside = target market cap ÷ current − 1 = +30.3%

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-23114.508 IDREx-dividend: 114.508 IDR per sharePaidYahoo Finance (ex-div)
2025-06-23332.437 IDREx-dividend: 332.437 IDR per sharePaidYahoo Finance (ex-div)
2024-05-21397.712 IDREx-dividend: 397.712 IDR per sharePaidYahoo Finance (ex-div)
2023-06-261 094.05 IDREx-dividend: 1 094.05 IDR per sharePaidYahoo Finance (ex-div)
2022-06-06688.515 IDREx-dividend: 688.515 IDR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.ptba.co.id/en/investor-relations

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Bukit Asam (PTBA) — from primary filings.

Frequently asked questions

What is Bukit Asam (PTBA)'s P/E ratio?
Bukit Asam (PTBA) trades at a P/E of 6.3x (price to trailing 12-month earnings).
What is Bukit Asam (PTBA)'s EV/EBITDA?
Bukit Asam (PTBA) trades at 4.0x EV/EBITDA.
What is Bukit Asam (PTBA)'s P/B ratio?
Bukit Asam (PTBA) trades at a P/B of 1.6x.
What is Bukit Asam (PTBA)'s dividend yield?
Bukit Asam (PTBA)'s trailing 12-month dividend yield is 3.7%.
What is Bukit Asam (PTBA)'s return on equity (ROE)?
Bukit Asam (PTBA)'s ROE is 21.7%.
What is Bukit Asam (PTBA)'s market capitalization?
Bukit Asam (PTBA)'s market cap is 35464.3 bn IDR.

See also: Indonesian Stocks (2026): The Cheapest Big Emerging Market · The Cheapest Coal Stocks (2026): Out of Favour, Cash-Rich, High-Yield · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map