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PT Adaro Andalan Indonesia Tbk (AADI) Fair Value & Analysis

Energy · ID · Market cap 65.6T IDR

PA PT Adaro Andalan Indonesia Tbk AADI · JK
Price9,050 IDR
Fair Value14,480 IDR
Upside+60.0%
Quality66/100
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Mixed Growth
Solidly profitable · 14.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Moderate moat 54/100
Evidence: Medium Range 10,582 IDR – 18,750 IDR Share as image

Fair value as of: Aug 13, 2026

From 20 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 15,951 IDR to 14,480 IDR (−9.2%) since Jul 15, 2026. Share price +7.4% over the past month.

A solid business, screening 60% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (10,582 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (20 months)

11,001 IDR 5,085 IDR Fair Value 14,480 IDR Dec 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

20‑month range 5,085 IDR – 11,001 IDR · fair‑value band 10,582 IDR – 18,750 IDR · the 9,050 IDR price screens below the 14,480 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

PT Adaro Andalan Indonesia Tbk (AADI) currently trades at 9,050 IDR, while our model-based Fair Value estimate is 14,480 IDR, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PT Adaro Andalan Indonesia Tbk generated revenue of 4.9B IDR at a net margin of 15.5%. Revenue grew 2.5% year over year. It earns a return on equity of 24.2%. The stock trades on a trailing P/E of 5.5. Fundamentals as of Aug 13, 2026

Our scenario range runs from 10,582 IDR (bear case) to 18,750 IDR (bull case); at 9,050 IDR, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 23% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -21% fair-value upside, at 60%, AADI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 12,035 IDR 16,627 IDR 24,861 IDR 80
Residual Income 10,451 IDR 13,935 IDR 67,457 IDR 76
Rev-Margin DCF 9,343 IDR 13,301 IDR 18,368 IDR 74
All 20 models by family
DCF Models
FCF DCF 11,401 IDR 16,152 IDR 25,177 IDR 38
5Y Revenue Exit 9,343 IDR 13,143 IDR 18,685 IDR 39
5Y P/E Exit 13,143 IDR 19,794 IDR 27,869 IDR 38
10Y Revenue Exit 9,818 IDR 12,826 IDR 15,993 IDR 36
10Y P/E Exit 12,510 IDR 17,102 IDR 21,377 IDR 35
Earnings-Based
Graham-Dodd 10,451 IDR 12,826 IDR 14,410 IDR 54
EPV 17,102 IDR 20,110 IDR 22,644 IDR 59
Dividend Discount
Gordon GGM 4,909 IDR 5,384 IDR 6,176 IDR 70
DDM Multi-Stage 4,909 IDR 6,176 IDR 8,234 IDR 61
Multiples
P/E Multiple 16,310 IDR 21,694 IDR 27,078 IDR 63
P/S Multiple 9,026 IDR 12,035 IDR 15,043 IDR 58
P/B Multiple 9,184 IDR 12,193 IDR 15,201 IDR 55
EV/EBIT 16,152 IDR 21,535 IDR 26,761 IDR 53
EV/Revenue 8,709 IDR 12,351 IDR 15,835 IDR 43
Asset-Based
NCAV (Graham) 3,325 IDR 4,592 IDR 6,809 IDR 50
Growth DCF
Growth DCF 12,035 IDR 16,627 IDR 24,861 IDR 80
Rev-Margin DCF 9,343 IDR 13,301 IDR 18,368 IDR 74
Economic Profit
Residual Income 10,451 IDR 13,935 IDR 67,457 IDR 76
ROIC Compounder 17,102 IDR 20,744 IDR 24,544 IDR 72
Growth Earnings
Growth-Adj P/E 11,718 IDR 16,627 IDR 21,694 IDR 68

Widest divergence: Growth Earnings (16,627 IDR) versus Asset-Based (4,592 IDR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 4.9B IDR
Revenue growth (YoY) +2.5%
Net margin 15.5%
Return on equity 24.2%
Free cash flow 535M IDR FY2025
P/E ratio 5.5
More key figures
Operating margin 19.0%
EPS (TTM) 1,638 IDR
EPS growth (YoY) +18.3%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 65 · Market factors (momentum, volatility) 60

Profitability 65
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PT Adaro Andalan Indonesia Tbk engages in the coal mining activities. The company is also involved in the logistics business which includes coal barging and transshipment, fuel oil transportation and management, river channel management and dredging, multipurpose terminal and stockpile management, stevedoring, and shipyard operations.

Full company description

PT Adaro Andalan Indonesia Tbk engages in the coal mining activities. The company is also involved in the logistics business which includes coal barging and transshipment, fuel oil transportation and management, river channel management and dredging, multipurpose terminal and stockpile management, stevedoring, and shipyard operations. In addition, it engages in construction, operation, and maintenance of drinking water supply system; mine water pumping and processing services; water treatment; water solution services; and lease of powerplant and supporting activities. Further, the company is involved in forestry business; port; manufacture, repair, and maintenance of sea transportation; trading, handling, and barging of coal; sea transportation; and investment activities, as well as provision of terminal handling and mining support services. PT Adaro Andalan Indonesia Tbk was founded in 2004 and is headquartered in Jakarta, Indonesia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Adaro Andalan Indonesia Tbk reported revenue of 4.9B IDR in FY2025 versus 3.9B IDR in FY2021, a compound +6.2%/yr. Reported net income was 760M IDR in FY2025, compounding −2.2%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
4.9B IDR
Latest YoY
−7.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−14.0%
Revenue +6.2%/yr
FY21 3.9B IDR
FY22 7.7B IDR
FY23 5.9B IDR
FY24 5.3B IDR
FY25 4.9B IDR
Net income −2.2%/yr
FY21 829M IDR
FY22 2.1B IDR
FY23 1.1B IDR
FY24 1.2B IDR
FY25 760M IDR

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Cite: Fair Value Calculator (2026). "PT Adaro Andalan Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/AADI

Peer Group

Thermal Coal · 99 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 66 · Top 25%
Fair Value upside +60% · Top 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth -10% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.23× · Higher than median

Valuation Multiples vs Thermal Coal median · lower = cheaper

P/E (TTM) 5.5× · Cheaper than 75% of peers
P/B 1.97× · Pricier than 75% of peers
P/S (TTM) 1.37× · Pricier than median
P/FCF 12.3× · Pricier than 75% of peers
EV/EBITDA 6.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 30
FUTURE 0 · sector 0
PAST 86 · sector 21
HEALTH 89 · sector 93
DIVIDEND 0 · sector 38

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Coal Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Frequently asked questions

Is PT Adaro Andalan Indonesia Tbk (AADI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 14,480 IDR versus a price of 9,050 IDR, about +60% (undervalued).
What is the fair value of AADI?
Our model-based fair value for PT Adaro Andalan Indonesia Tbk is 14,480 IDR (as of Aug 13, 2026), built from audited fundamentals. The current price is 9,050 IDR.
What is the quality score of AADI?
PT Adaro Andalan Indonesia Tbk has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of PT Adaro Andalan Indonesia Tbk (AADI)?
PT Adaro Andalan Indonesia Tbk reported trailing-twelve-month revenue of about 4.9B IDR (latest available figure, as of Aug 13, 2026).
What is the net profit margin of AADI?
The net profit margin of PT Adaro Andalan Indonesia Tbk is about 15.5%, meaning it keeps roughly 15.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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