M

Merdeka Gold Resources PT Tbk
IDX:EMAS

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Merdeka Gold Resources PT Tbk
IDX:EMAS
Watchlist
Price: 9 525 IDR -1.8%
Market Cap: Rp140.3T

P/B

21.9
Current
70%
More Expensive
vs 3-y average of 12.9

Price to Book (P/B) ratio compares a company`s market value to its book value. It shows how much investors are paying for each dollar of net assets on the balance sheet.

P/B
21.9
=
Market Cap
Rp139.9T
/
Total Equity
$380.9m

Price to Book (P/B) ratio compares a company`s market value to its book value. It shows how much investors are paying for each dollar of net assets on the balance sheet.

P/B
21.9
=
Market Cap
Rp139.9T
/
Total Equity
$380.9m

Valuation Scenarios

Merdeka Gold Resources PT Tbk is trading above its 3-year average

If P/B returns to its 3-Year Average (12.9), the stock would be worth Rp5 598.26 (41% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-93%
Maximum Upside
No Upside Scenarios
Average Downside
61%
Scenario P/B Value Implied Price Upside/Downside
Current Multiple 21.9 Rp9 525
0%
3-Year Average 12.9 Rp5 598.26
-41%
5-Year Average 12.9 Rp5 598.26
-41%
Industry Average 7 Rp3 050.33
-68%
Country Average 1.6 Rp696.99
-93%

Forward P/B
Today’s price vs future total equity

Not enough data available to calculate forward P/B

Peer Comparison

All Multiples
P/B
P/E
All Countries
Close
P/E Multiple
Earnings Growth PEG
ID
M
Merdeka Gold Resources PT Tbk
IDX:EMAS
Average P/E: 10 666.2
Negative Multiple: -303.4
N/A N/A
US
G
GE Vernova LLC
NYSE:GEV
Not Available
19%
N/A
UK
E
Eight Capital Partners PLC
F:ECS
Not Available N/A N/A
US
C
China Industrial Group Inc
OTC:CIND
4 020.7
N/A N/A
NL
N
Nepi Rockcastle NV
JSE:NRP
10.5
1%
10.5
US
F
Fintech Ecosystem Development Corp
NASDAQ:FEXD
38 458.7
N/A N/A
US
C
CoreWeave Inc
NASDAQ:CRWV
Not Available N/A N/A
CH
G
Galderma Group AG
SIX:GALD
Not Available
47%
N/A
US
Coupang Inc
F:788
174.8
96%
1.8
US
Symbotic Inc
NASDAQ:SYM
Negative Multiple: -3 291.8 N/A N/A
US
Q
Qnity Electronics Inc
NYSE:Q
Not Available
15%
N/A

Market Distribution

Higher than 94% of companies in Indonesia
Percentile
94rd
Based on 852 companies
94rd percentile
21.9
Low
0 — 0.9
Typical Range
0.9 — 2.9
High
2.9 —
Distribution Statistics
Indonesia
Min 0
30th Percentile 0.9
Median 1.6
70th Percentile 2.9
Max 652 108.7

Merdeka Gold Resources PT Tbk
Glance View

Market Cap
140.3T IDR
Industry
N/A

Merdeka Gold Resources PT Tbk is a ID-based company operating in industry. The company is headquartered in Jakarta Selatan, Dki Jakarta and currently employs 253 full-time employees. The company went IPO on 2025-09-23. PT Merdeka Gold Resources Tbk, formerly PT Pani Bersama Jaya, is an Indonesia-based company. The Company’s activities are holding company and other management consulting activities. Its business activity carried out by the Company is as a holding company of a business group engaged in gold mining and its associated minerals, processing and other related business activities that are vertically integrated. Its segments include Mining support service, Mining, Processing, and others. The firm is focused on developing the Pani Gold Project. Its subsidiaries include PT Gorontalo Sejahtera Mining (GSM), PT Pani Bersama Tambang (PBT), PT Merdeka Mining Indonesia (MMI), PT Mentari Alam Persada, PT Pani Industri Jaya, among others. GSM is engaged in mineral mining. MMI is focused on mining and other quarrying supporting activities, leasing activities for construction equipment with operators and leasing and operating leasing activities for mining and energy machinery and its equipment.

EMAS Intrinsic Value
4.65 IDR
Overvaluation 100%
Intrinsic Value
Price Rp9 525
M
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