Here’s a deep-dive analysis of IDX: ADMR (PT Adaro Minerals Indonesia Tbk):
(Display updates automatically.)
Insiders hold ~83.8% of shares reddit.com+15finance.yahoo.com+15stockanalysis.com+15
Institutions own a minor ~0.7–1.4%
Float consists of roughly 6.6 billion shares gurufocus.com+15finance.yahoo.com+15stockanalysis.com+15
➡️ Majority control by insiders means less influence from institutional investors.
Gross Margin: ~50–54% (FY 2023 at 53.7%; Q3 2024 at 45.6%)
Operating Margin: ~46–53% (FY 2023 at 52.9%; Q3 2024 at 42.7%) alphaspread.com+15gurufocus.com+15stockanalysis.com+15
EBITDA Margin: ~50–56% (trailing TTM)
Profit Margin: ~38–41% (FY 2023 at 40.6%; Q3 2024 at ~37.8%) stockviz.com
These robust margins reflect strong pricing power and prudent cost control, aligning with a “durable competitive advantage” gurufocus.com.
ROE: ~45% (FY 2023); TTM value ~51% alphaspread.com+7finance.yahoo.com+7reddit.com+7
ROA: ~17–28%; ROCE: ~29–45%
The figures highlight exceptional profitability and efficient capital use, outperforming peers in the energy/mining sector gurufocus.com+11alphaspread.com+11stockanalysis.com+11.
Debt-to-Equity: very low at ~0.2
Current Ratio: healthy range at ~3.2–3.6 reddit.com
Interest Coverage: extremely strong (~48–49x)
Altman Z‑Score: 6.3 (well above distress threshold of 3) stockanalysis.com
This indicates a highly liquid, low-leverage balance sheet — low default risk and strong financial resilience.
Free Cash Flow Margin: ~10–15% historically; Q3 2024 dipped negative (-10%)
TTM Free Cash Flow: ~1.9 trillion IDR (FCF per share ~46 IDR) stockanalysis.com
Despite a temporary dip in Q3, overall cash generation remains solid.
Commissioning of Aluminium Smelter (via KAI subsidiary):
"KAI akan mengembangkan proyek smelter aluminium … Tahap pertama diharapkan selesai pada 2025 … kepemilikan Adaro … mencapai 65 %" reddit.com+1alphaspread.com+1
This signals strategic diversification into aluminium production—reducing coal dependency.
No major negative rumours detected in recent news.
Broader ADRO group (parent) name change to “Alamtri Resources Indonesia” stirred some speculation, but ADMR continues unchanged finance.yahoo.com+2reddit.com+2simplywall.st+2.
P/E Ratio: ~5.2 trailing, ~6.6 forward — indicates inexpensive relative to earnings stockanalysis.com
EV/EBITDA: ~3.6x — low multiple in the sector
EV/Sales: ~1.8x
FCF Yield: ~5.2%
Earnings Yield: ~19.2%
Analyst projections: Earnings growth ~3.2% p.a., revenue growth ~27% p.a., with ROE expected at ~23% in 3 years simplywall.st. Mixed — margins may moderate.
| Factor | Assessment |
|---|---|
| Profitability | Outstanding margins and returns; competitive advantage strong |
| Balance Sheet | Very low debt, high liquidity, excellent solvency indicators |
| Valuation | Trading at low multiples; appears undervalued |
| Growth | Diversifying into aluminium; organic growth likely via coal tailwinds |
| Risks | Commodity price volatility, future aluminium project delays, exposure to coal market sentiment |
ADMR offers compelling financial strength, excellent profitability, and significant diversification efforts. It trades at attractive valuation levels. If you're bullish on coal demand and sector diversification, ADMR stands out. However, monitor aluminium smelter progress and broader coal macro risks.
Let me know if you'd like scenario projections, coal price impact analysis, or comparisons with peers!