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PT Antam (Persero) Tbk operates as a diversified metals and mining company in Indonesia. The company operates through three segments: Nickel, Precious Metals and Refinery, and Bauxite and Alumina. The company is involved in the exploration, excavation, processing, and marketing of alumina, nickel ore, ferronickel, gold, silver, bauxite, and coal. It also engages in construction, trading, industry, mining, agriculture, printing, and ground transportation businesses; and provision of industrial area management services. In addition, the company exports its products. The company was formerly known as PT Aneka Tambang Tbk and changed its name to PT Antam (Persero) Tbk in July 2026. The company was incorporated in 1968 and is headquartered in Jakarta, Indonesia. PT Antam (Persero) Tbk operates as a subsidiary of PT Mineral Industri Indonesia (Persero).
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PT Aneka Tambang (Persero) Tbk (Antam) is an Indonesian state-owned miner and metals processor producing nickel (ore and ferronickel), gold and bauxite and operating upstream mines alongside downstream smelting and refining facilities. Long-term growth may be supported by rising nickel demand for stainless steel and EV batteries, Indonesia's policy push for domestic processing and expansion of downstream capacity, giving investors exposure to a sizable resource base and the country's nickel value chain.
Key risks include commodity price volatility, changes to Indonesian mining and export policy, operational and environmental permitting challenges and execution risk in scaling refining operations.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 9747127.00M | 4613643.00M | 3854481.00M | 5214771.00M | 3043509.00M |
| Minority interest | -711581.00M | -205008.00M | -2.00M | 1.00M | 3.00M |
| Net income | 7208834.00M | 3647210.00M | 3077646.00M | 3820965.00M | 1861743.00M |
| Selling general administrative | 6463707.00M | 1408286.00M | 958489.00M | 695489.00M | 731289.00M |
| Selling and marketing expenses | - | 70574.00M | 726781.00M | 767426.00M | 904027.00M |
| Gross profit | 14765345.00M | 6498297.00M | 6314678.00M | 8210519.00M | 6359061.00M |
| Reconciled depreciation | 168095.00M | 146558.00M | 128846.00M | 130183.00M | 102711.00M |
| Ebit | - | 4743010.00M | 3614255.00M | 6454763.00M | 3435735.00M |
| Ebitda | - | 4889568.00M | 3743101.00M | 6584946.00M | 3538446.00M |
| Depreciation and amortization | - | 146558.00M | 128846.00M | 130183.00M | 102711.00M |
| Operating income | 8511177.00M | 2997953.00M | 2616894.00M | 3941871.00M | 2738144.00M |
| Other operating expenses | - | 66194487.00M | 38388898.00M | 40968232.00M | 35556884.00M |
| Interest expense | 78451.00M | 129367.00M | 181578.00M | 166570.00M | 287865.00M |
| Tax provision | 1826712.00M | 761425.00M | 776833.00M | 1393807.00M | 1181769.00M |
| Interest income | 609912.00M | 491014.00M | 171368.00M | 1255951.00M | 74340.00M |
| Net interest income | 326750.00M | 351623.00M | -51102.00M | -92830.00M | -253024.00M |
| Income tax expense | - | 761425.00M | 776833.00M | 1393807.00M | 1181769.00M |
| Total revenue | 84642439.00M | 69192440.00M | 41047693.00M | 45930356.00M | 38445595.00M |
| Total operating expenses | 76131262.00M | 3500344.00M | 3655883.00M | 3248395.00M | 3470350.00M |
| Cost of revenue | 69877094.00M | 62694143.00M | 34733015.00M | 37719837.00M | 32086534.00M |
| Total other income expense net | - | 1615690.00M | 1237587.00M | 1272900.00M | 305365.00M |
| Net income from continuing ops | 7920415.00M | 3852218.00M | 3077648.00M | 3820964.00M | 1861740.00M |
| Net income applicable to common shares | 7208834.00M | 3647210.00M | - | 3820965.00M | 1861743.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 52530405.00M | 44522645.00M | 42851329.00M | 33637271.00M | 32916154.00M |
| Intangible assets | 75331.00M | 67231.00M | 45534.00M | 33144.00M | 42121.00M |
| Other current assets | 209785.00M | 1153579.00M | 365877.00M | 57610.00M | 606666.00M |
| Total liab | 15930519.00M | 12323139.00M | 11685659.00M | 9925211.00M | 12079056.00M |
| Total stockholder equity | 35298207.00M | 31458113.00M | 30643195.00M | 23712043.00M | 20837080.00M |
| Other current liab | - | 7587090.00M | 4955415.00M | 3291346.00M | 1548431.00M |
| Common stock | 2403076.00M | 2403076.00M | 2403076.00M | 2403076.00M | 2403075.00M |
| Capital stock | 2403076.00M | 2403076.00M | 2403076.00M | 2403076.00M | 2403076.00M |
| Retained earnings | 18300460.00M | 14505151.00M | 13909027.00M | 12661897.00M | 10271507.00M |
| Other liab | - | - | - | - | 1729609.00M |
| Good will | 68336.00M | 68336.00M | 68336.00M | 68336.00M | 68336.00M |
| Other assets | 3826857.00M | - | - | 1420712.00M | 1168879.00M |
| Cash | 8433610.00M | 4751621.00M | 9208814.00M | 4476491.00M | 5089160.00M |
| Cash and equivalents | 2595435.00M | - | - | 1570756.00M | 2780259.00M |
| Total current liabilities | 9682943.00M | 9770898.00M | 8576440.00M | 5971662.00M | 6562383.00M |
| Current deferred revenue | - | - | - | - | 2406171.00M |
| Net debt | - | -4469018.00M | -6192384.00M | -952966.00M | 1188364.00M |
| Short term debt | 0.00M | 240246.00M | 2071447.00M | 1378751.00M | 1088646.00M |
| Short long term debt | 1514800.00M | 184800.00M | 1995193.00M | 1295459.00M | 2574170.00M |
| Short long term debt total | - | 282603.00M | 3016430.00M | 3523525.00M | 6420819.00M |
| Other stockholder equity | 1383212.00M | 14549886.00M | 14330696.10M | 8647070.00M | 4227664.00M |
| Property plant equipment | 16429537.00M | - | - | 17712244.00M | 18138307.00M |
| Total current assets | 23021850.00M | 17991975.00M | 20064546.00M | 11694779.00M | 11728143.00M |
| Net tangible assets | - | - | - | 23610562.00M | 20726622.00M |
| Short term investments | 2278311.00M | 4565539.00M | 5125501.00M | 972042.00M | 963918.00M |
| Net receivables | 2327866.00M | 1481584.00M | 1894201.00M | 3282567.00M | 1945036.00M |
| Long term debt | 2920244.00M | 0.00M | 881497.00M | 2082133.00M | 3703354.00M |
| Inventory | 7731354.00M | 6039652.00M | 3470153.00M | 2906069.00M | 3107312.00M |
| Accounts payable | 1597954.00M | 1771033.00M | 1549578.00M | 1301565.00M | 1399446.00M |
| Accumulated other comprehensive income | - | - | 395.90M | - | - |
| Non currrent assets other | 1955614.00M | 7929247.00M | 7505836.00M | 2233029.00M | 390764.00M |
| Non current assets total | 29508555.00M | 26530670.00M | 22786783.00M | 21942492.00M | 21188011.00M |
| Capital lease obligations | 121859.00M | 97803.00M | 139740.00M | 145933.00M | 143295.00M |
| Long term debt total | 2974200.00M | - | - | 2144774.00M | 3787064.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | 181755.00M | -2637219.00M | 2865002.00M | -783125.00M | -1222869.00M |
| Change to liabilities | - | - | - | 0.00M | 0.00M |
| Total cashflows from investing activities | -1506766.00M | -2637219.00M | - | -783125.00M | -1729827.00M |
| Net borrowings | 4215193.00M | -2534794.00M | - | - | -1819322.00M |
| Total cash from financing activities | 299870.00M | -5720858.00M | -2427768.00M | -4077783.00M | -2221595.00M |
| Net income | 7208834.00M | 3647210.00M | 3077646.00M | 3820965.00M | 1861743.00M |
| Change in cash | 3681989.00M | -4457193.00M | 4732323.00M | -612669.00M | 1104772.00M |
| Begin period cash flow | 4751621.00M | 9208814.00M | 4476491.00M | 5089160.00M | 3984388.00M |
| End period cash flow | 8433610.00M | 4751621.00M | 9208814.00M | 4476491.00M | 5089160.00M |
| Total cash from operating activities | 4853256.00M | 3681115.00M | 4357302.00M | 4108037.00M | 5042665.00M |
| Depreciation | - | - | 1672206.00M | 932993.00M | 1051796.00M |
| Other cashflows from investing activities | -807403.00M | -24282.00M | - | -72124.00M | -963918.00M |
| Dividends paid | 3647211.00M | -3077646.00M | 1910482.00M | 930871.00M | 402273.00M |
| Other cashflows from financing activities | -151295.00M | -108418.00M | 831347.00M | 1414063.00M | 2708626.00M |
| Change to netincome | - | - | - | -645921.00M | 2129126.00M |
| Capital expenditures | 699363.00M | 1224266.00M | 1439343.00M | 711001.00M | 511435.00M |
| Change in working capital | -1933483.00M | -1940744.00M | - | -1855682.00M | -2478361.00M |
| Other non cash items | - | 33905.00M | -392550.00M | -583649.00M | 2129126.00M |
| Free cash flow | 4153893.00M | 2456849.00M | 2917959.00M | -711001.00M | -511435.00M |
Sector: Basic Materials Industry: Gold
|
Stock Name
|
Change
(AUD) |
Price
(AUD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| ATM Aneka Tambang (Persero) TBK (PT) |
0.09 8.67% |
1.06 | 6.53 | 5.88 | 0.68 | 1.60 | 0.85 | 5.91 |
| NEM Newmont Corporation |
-4.06 2.37% |
166.96 | 15.41 | 11.32 | 7.03 | 3.71 | 4.92 | 7.90 |
| NST Northern Star Resources Ltd |
1.36 6.15% |
23.47 | 19.20 | 15.95 | 4.16 | 2.07 | 4.47 | 8.27 |
| EVN Evolution Mining Ltd |
-0.41 2.99% |
13.30 | 18.79 | 16.61 | 5.05 | 4.89 | 5.11 | 9.29 |
| DPM Dpm Metals Inc. |
-1.83 2.87% |
61.96 | 14.57 | 11.32 | 10.74 | 3.46 | 7.44 | 11.28 |
PT Antam (Persero) Tbk operates as a diversified metals and mining company in Indonesia. The company operates through three segments: Nickel, Precious Metals and Refinery, and Bauxite and Alumina. The company is involved in the exploration, excavation, processing, and marketing of alumina, nickel ore, ferronickel, gold, silver, bauxite, and coal. It also engages in construction, trading, industry, mining, agriculture, printing, and ground transportation businesses; and provision of industrial area management services. In addition, the company exports its products. The company was formerly known as PT Aneka Tambang Tbk and changed its name to PT Antam (Persero) Tbk in July 2026. The company was incorporated in 1968 and is headquartered in Jakarta, Indonesia. PT Antam (Persero) Tbk operates as a subsidiary of PT Mineral Industri Indonesia (Persero).
| Name | Title | Year Born |
|---|---|---|
| Mr. Nicolas D. Kanter | Pres Director | 1959 |
| Ms. Elisabeth R.T. Siahaan | Director of Fin. & Risk Management and Director | 1966 |
| Mr. I Dewa Bagus Sugata Wirantaya | Director of Operations & Production and Director | 1975 |
| Ms. Evi Susman | VP of Accounting & Tax | 1981 |
| Mr. Polimon Antonius Tarigan | Sr. VP of Corp. Fin. & Treasury | 1981 |
| Mr. Muhammad Zakri | VP of Information & Communication Technology | 1970 |
| Mr. Basar Simanjuntak | Director of HR & Director | 1965 |
| Engineer Dolok Robert Silaban M.M | Director of Bus. Devel. & Director | 1961 |
| Mr. S. S Agustiar Tj | Sr. VP of Operation Management, Health, Safety and Environment | 1968 |
| Mr. Hardianto Tumpak Manurung | Sr. VP of Internal Audit | 1971 |
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