PT Indo Tambangraya Megah Tbk (PTIZF)
被高估基本面
50
价格
$24650.00
市值
$27.62T
第一部分 · 这家公司值多少
概览
PT Indo Tambangraya Megah mines thermal coal in East Kalimantan, Indonesia, primarily for use as fuel in coal-fired power plants. Coal is extracted at open-pit mines, several run through subsidiaries and mining-contractor partnerships, then transported and sold both to power utilities within Indonesia and, for a larger share, exported to buyers across Asia, with China historically its largest single export market. The company also offers mining-contractor services to other operators and has begun smaller ventures in solar-rooftop installation and electricity generation.
盈利方式
Revenue is production volume multiplied by the price coal fetches on international markets, which move with Asian power-generation demand and competing fuel prices. Indonesian regulation requires miners to sell a minimum share of output domestically at a government-set price below export levels, so the domestic-versus-export mix affects average realized prices as well as volume. 2025 revenue fell 18% from 2024 as coal prices declined, illustrating how directly the business tracks the commodity cycle rather than any pricing power of its own.
护城河
未发现护城河 · 无Thermal coal is a commodity priced on global markets, and Indo Tambangraya's mines compete against many other Indonesian and international producers with similar geology and costs. Indonesia's domestic-market-obligation rule applies to all producers equally rather than favoring this company specifically, and no patented technology, brand or contractual lock-in was found protecting its position.
需求驱动因素
周期性Revenue tracks global thermal coal prices and Asian power-generation demand, both of which swing with economic growth, weather-driven electricity use, and the pace at which importing countries build renewable or gas-fired alternatives to coal plants. The 18% revenue decline in 2025 as coal prices fell shows how directly results follow the commodity cycle rather than steady, planned demand.
看多理由
Buyers argue that Asian coal-fired power generation, particularly in China and other developing economies, will remain a major source of electricity demand for years, and that Indo Tambangraya's established Kalimantan mines and export relationships position it to keep supplying that demand at competitive cost.
看空理由
Sellers worry that 2025's 18% revenue decline shows the business has no protection from falling coal prices, that the global shift toward renewable energy threatens long-run demand for thermal coal, and that Indonesia's domestic-market-obligation rules can reduce the export volume available at the higher price when international demand is strong.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
资产负债表与流动性
营收
$1.96B
最近12个月（截至2026/6/30）
净利润
$206M
最近12个月（截至2026/6/30）
自由现金流
$203M
股东权益合计
$1.90B
负债合计
$99M
流动比率
3.46
利息覆盖率
-
债务/EBITDA
0.34
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$16003.48
当前价格
$24650.00
安全边际
-54.0%
公允价值区间
$10402.26 - $21604.70
所用估值方法之间的离散区间，并非经过统计校准的置信区间。
估算方法
估值指标
市盈率（P/E）
7.42
ROE
11.1%
市净率（P/B）
14538.59
P/FCF
135934.10
毛利率
27.2%
ROIC
9.9%
盈利能力雷达图
价值创造（经济护城河）
ROIC
9.9%
WACC
8.0%
ROIC − WACC
+1.9 pp
ROIC 超过资本成本：公司正在为股东创造价值。
基本面分析标准
通过（11）
- Price CAGR 5.33%
- ROIC 9.9%
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- ROE 10.8%
- Revenue Growth 5Y 9.7%
- Analyst Consensus 59% Buy
- Earnings Surprise avg 50.8%
- PEG Ratio 0.21
未通过（8）
- Gross Margin 27.2%
- P/FCF 135934.10
- P/B Ratio 14538.59
- CapEx intensity
- DCF valuation (Overvalued)
- Earnings Quality (OCF/NI) 0.35
- Net Margin Trend 10.2% vs 16.2%
- Piotroski F-Score 1/9
不可用（8）
- EPS data insufficient
- Dividend Payout NaN%
- Operating Margin NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- Share Dilution (missing shares data)
Piotroski F-评分
存在严重财务隐患
盈利质量
低质量：需深入审查会计处理
股权稀释
正在回购股份，对股东友好
机构持股
该公司暂无机构申报数据。
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Mulianto . | President Director | 55 |
| Mr. Junius Prakasa Darmawan | Director of Finance & Director | 46 |
| . Anthony | Head of Financial Accounting | - |
| Mr. Yulius Kurniawan Gozali | Director of Corporate Communications & Investor Relations and Director | 52 |
| Ms. Monika Ida Krisnamurti | Head of Legal & Corporate Secretary | 42 |
| Tulus Sebastian Situmeang | Head of Sales Compliance & Quality Management | - |
| Mr. Jusnan Ruslan | Director of Sales & Logistics and Director | 59 |
| Mr. Stephanus Demo Wawin | Director of Digital Center of Excellence & Director | 54 |
| Mr. Ignatius Wurwanto | Director for Sustainability & Risk Management and Director | 59 |
| Era Tjahya Saputra | Head of IMM Mine | - |
第二部分 · 价格与买入时机
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Latest News
Recent headlines for PTIZF, sourced from Markets Gazette.