Merdeka Copper Gold Tbk PT
IDX:MDKA

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Merdeka Copper Gold Tbk PT Logo
Merdeka Copper Gold Tbk PT
IDX:MDKA
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Price: 3 360 IDR -0.59% Market Closed
Market Cap: Rp82.2T

EV/S

3.2
Current
38%
More Expensive
vs 3-y average of 2.3

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
3.2
=
Enterprise Value
Rp101.7T
/
Revenue
$1.9B

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
3.2
=
Enterprise Value
Rp101.7T
/
Revenue
$1.9B

Valuation Scenarios

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

If EV/S returns to its 3-Year Average (2.3), the stock would be worth Rp2 436.01 (27% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-100%
Maximum Upside
+15%
Average Downside
41%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 3.2 Rp3 360
0%
3-Year Average 2.3 Rp2 436.01
-27%
5-Year Average 3.6 Rp3 878.2
+15%
Industry Average 0 Rp2.75
-100%
Country Average 1.5 Rp1 573.88
-53%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
Rp101.7T
/
Jan 2026
$1.9B
=
3.2
Current
Rp101.7T
/
Dec 2026
$3B
=
33449.1
Forward
Rp101.7T
/
Dec 2027
$3.5B
=
29456.9
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
ID
Merdeka Copper Gold Tbk PT
IDX:MDKA
82T IDR 3.2 -73.3
AU
BHP Group Ltd
ASX:BHP
284.9B AUD 3.9 19.6
AU
Rio Tinto Ltd
ASX:RIO
278.6B AUD 3.5 19.8
UK
Rio Tinto PLC
LSE:RIO
119.9B GBP 3.1 15.9
CH
Glencore PLC
LSE:GLEN
65.5B GBP 0.5 238.8
MX
Grupo Mexico SAB de CV
BMV:GMEXICOB
1.5T MXN 5 18
SA
Saudi Arabian Mining Company SJSC
SAU:1211
248.9B SAR 7 33.9
CN
CMOC Group Ltd
SSE:603993
414.2B CNY 2 20.4
UK
Anglo American PLC
LSE:AAL
43.5B GBP 3.5 -15.4
CN
China Molybdenum Co Ltd
OTC:CMCLF
52.2B USD 1.7 17.7
ZA
African Rainbow Minerals Ltd
JSE:ARI
44.4B ZAR 2.6 34.5
P/E Multiple
Earnings Growth PEG
ID
Merdeka Copper Gold Tbk PT
IDX:MDKA
Average P/E: 46.5
Negative Multiple: -73.3
N/A N/A
AU
BHP Group Ltd
ASX:BHP
19.6
11%
1.8
AU
Rio Tinto Ltd
ASX:RIO
19.8
13%
1.5
UK
Rio Tinto PLC
LSE:RIO
15.9
11%
1.4
CH
Glencore PLC
LSE:GLEN
238.8
161%
1.5
MX
Grupo Mexico SAB de CV
BMV:GMEXICOB
18
3%
6
SA
Saudi Arabian Mining Company SJSC
SAU:1211
33.9
10%
3.4
CN
CMOC Group Ltd
SSE:603993
20.4
23%
0.9
UK
Anglo American PLC
LSE:AAL
Negative Multiple: -15.4 N/A N/A
CN
C
China Molybdenum Co Ltd
OTC:CMCLF
17.7
24%
0.7
ZA
A
African Rainbow Minerals Ltd
JSE:ARI
34.5
156%
0.2

Market Distribution

In line with most companies in Indonesia
Percentile
68th
Based on 857 companies
68th percentile
3.2
Low
0 — 0.6
Typical Range
0.6 — 3.3
High
3.3 —
Distribution Statistics
Indonesia
Min 0
30th Percentile 0.6
Median 1.5
70th Percentile 3.3
Max 414 768.4

Merdeka Copper Gold Tbk PT
Glance View

In the rugged terrains of Indonesia, Merdeka Copper Gold Tbk PT has carved a niche for itself as a prominent player in the mining and metals industry. The company's journey is etched into the rich geological tapestry of Indonesia's archipelago, where it operates substantial mining projects. At its core, Merdeka is a producer of copper and gold, with its principal operations centered around the Tujuh Bukit Gold Mine in East Java, a striking achievement nestled within picturesque yet challenging landscapes. This open-pit mine is the heart of the company's operations, a testament to its strategic acumen and engineering prowess, consistently delivering high-grade ores that are processed into valuable bullion for the global market. Merdeka's business model hinges on efficient extraction and processing, where advanced technology and sustainable practices converge to maximize yield, ensuring that the gold and copper they produce are as refined as their business strategies. Beyond the extraction of precious metals, Merdeka Copper Gold Tbk is evolving. The transition from a single-operation focus to a multi-tiered mining enterprise is a key narrative in their corporate strategy. This diversification is exemplified through initiatives like the Wetar Copper Project and Pani Gold Project, broadening their portfolio and stabilizing revenue streams. By embracing ambitious exploration activities, the firm not only mines commodities but also uncovers potential riches buried deeper within Indonesian soil. This foresight into expanding operations reflects their commitment to sustainable growth and adaptation in a highly competitive industry. Their business thrives not just on the value extracted from the earth, but on the synergistic blend of resource management, technological advancement, and market agility.

MDKA Intrinsic Value
2 275.13 IDR
Overvaluation 32%
Intrinsic Value
Price Rp3 360
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