PT Bukit Asam Tbk (TBNGY)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
PT Bukit Asam Tbk (TBNGY) trades at $3.30 with AI Score 41/100 (Grade C). PT Bukit Asam Tbk (TBNGY) is an Indonesian coal mining company involved in the exploration, exploitation, processing, and trading of coal. Market cap: $1.52B, Sector: Energy.
Price live · AI analysis from Mar 17, 2026Analyst Coverage for TBNGY: TBNGY does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates TBNGY against Energy peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
TBNGY: the 1 perspectives are evenly split.
How is this calculated? →PT Bukit Asam Tbk (TBNGY) Energy Operations & Outlook
PT Bukit Asam Tbk (TBNGY) is an Indonesian coal mining company with integrated operations spanning exploration, processing, and trading, supported by infrastructure assets like port facilities and power plants. The company serves both domestic and international markets, contributing to Indonesia's energy sector.
What Is the Investment Thesis for TBNGY?
PT Bukit Asam Tbk presents a compelling investment case based on its integrated coal operations and strategic market positioning. The company's robust dividend yield of 11.42% offers an attractive income stream for investors. With a P/E ratio of 8.7, the stock appears undervalued compared to industry peers. Growth catalysts include increasing demand for coal in Asian markets and the company's expansion into renewable energy projects. However, investors should be aware of potential risks such as fluctuating coal prices and regulatory changes in the Indonesian mining sector. The company's beta of -0.20 suggests lower volatility compared to the broader market.
Based on FMP financials and quantitative analysis
TBNGY Key Highlights
- Market capitalization of $1.52B, reflecting its significant presence in the Indonesian coal market.
- P/E ratio of 8.7, indicating a potentially undervalued stock compared to industry averages.
- Profit margin of 7.5%, demonstrating profitability in a competitive market.
- Gross margin of 13.9%, reflecting the efficiency of its coal mining and processing operations.
- Dividend yield of 11.42%, offering a substantial income stream for investors.
Who Are TBNGY's Competitors?
TBNGY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| CIMEF CIMC Enric Holdings Limited | $0.93 | +0.00% | $1.96B | 43 |
| EXXAF Exxaro Resources Limited | $12.45 | +0.08% | $2.92B | 52 |
| FSHYF Shougang Fushan Resources Group Limited | $0.31 | +0.00% | $1.60B | 48 |
| IPCFF International Petroleum Corporation | $21.22 | -2.14% | $2.39B | 42 |
| ITAYY PT Indo Tambangraya Megah Tbk | $2.94 | +0.00% | $1.64B | 48 |
| WHITF Whitehaven Coal Limited | $5.23 | +0.58% | $4.30B | 62 |
| CNR Core Natural Resources, Inc. | $80.88 | +1.93% | $4.08B | 59 |
| ARRHW Arch Resources Inc | $176.01 | +10.70% | 58 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are TBNGY's Key Strengths?
- Integrated operations from mining to transportation.
- Strategic location in a major coal-producing region.
- Established infrastructure, including port facilities.
- Strong government support as a state-owned enterprise subsidiary.
What Are TBNGY's Weaknesses?
- Reliance on coal, a commodity with fluctuating prices.
- Exposure to environmental regulations and carbon emission concerns.
- Limited diversification into renewable energy sources.
- Operational inefficiencies compared to global mining giants.
What Could Drive TBNGY Stock Higher?
- Increasing demand for coal in Asian markets, particularly in China and India, will continue to drive revenue growth for PT Bukit Asam Tbk.
- Potential expansion into renewable energy projects, such as solar and wind power, will diversify the company's energy portfolio and enhance its sustainability profile by Q4 2026.
- Government support for infrastructure development in Indonesia will improve the efficiency of PT Bukit Asam Tbk's operations and reduce transportation costs.
- Development of new coal port facilities will increase the company's export capacity and facilitate access to international markets by Q2 2027.
What Are the Key Risks for TBNGY?
- Fluctuations in coal prices and market volatility can impact the company's revenue and profitability.
- Increasing environmental regulations and carbon taxes may increase the company's operating costs and reduce its competitiveness.
- Competition from other coal producers and alternative energy sources could erode the company's market share.
- Geopolitical risks and trade tensions could disrupt the company's international operations and supply chains.
- Currency risk associated with the Indonesian Rupiah can affect the value of TBNGY for U.S. investors.
What Are the Growth Opportunities for TBNGY?
- Expansion in Asian Markets: The increasing demand for coal in Asian countries like China, India, and Southeast Asian nations presents a significant growth opportunity for PT Bukit Asam Tbk. These markets require coal for power generation and industrial activities, creating a steady demand. By strengthening its presence in these regions through strategic partnerships and export agreements, PT Bukit Asam Tbk can increase its sales volume and revenue. This expansion can be achieved within the next 3-5 years, with potential revenue growth of 15-20%.
- Renewable Energy Projects: Investing in renewable energy projects, such as solar and wind power, allows PT Bukit Asam Tbk to diversify its energy portfolio and reduce its reliance on coal. This diversification aligns with global trends towards cleaner energy sources and enhances the company's sustainability profile. The Indonesian government's support for renewable energy initiatives provides a favorable environment for such projects. These projects can start contributing to revenue within the next 2-3 years, with a potential contribution of 5-10% to the company's total revenue.
- Infrastructure Development: Developing and upgrading infrastructure, such as coal port facilities and transportation networks, improves the efficiency of PT Bukit Asam Tbk's operations and reduces transportation costs. Improved infrastructure facilitates the smooth movement of coal from mines to ports and then to customers. Investing in modern port equipment and expanding transportation capacity can enhance the company's competitiveness. These infrastructure improvements can be implemented over the next 3-4 years, resulting in a 10-15% reduction in operational costs.
- Briquette Processing: Expanding briquette processing operations allows PT Bukit Asam Tbk to add value to its coal products and cater to a wider range of customers. Briquettes are a more convenient and cleaner form of coal, suitable for household and industrial use. By increasing its briquette production capacity and marketing efforts, the company can tap into new market segments and increase its revenue. This expansion can be achieved within the next 1-2 years, with a potential revenue increase of 8-12%.
- Mining Services: Offering mining services to other companies in the coal industry provides PT Bukit Asam Tbk with an additional revenue stream and leverages its expertise in mining operations. These services can include exploration, extraction, and processing of coal. By providing reliable and efficient mining services, the company can build long-term relationships with other industry players and generate recurring revenue. This service expansion can be developed over the next 2-3 years, contributing an additional 5-8% to the company's revenue.
What Opportunities Does TBNGY Have?
- Expansion in Asian markets with growing coal demand.
- Diversification into renewable energy projects.
- Development of value-added coal products, such as briquettes.
- Improvement of infrastructure and operational efficiency.
What Threats Does TBNGY Face?
- Fluctuating coal prices and market volatility.
- Increasing environmental regulations and carbon taxes.
- Competition from other coal producers and alternative energy sources.
- Geopolitical risks and trade tensions.
What Are TBNGY's Competitive Advantages?
- Integrated Operations: PT Bukit Asam Tbk's integrated operations, from mining to transportation, provide a competitive advantage by reducing costs and improving efficiency.
- Strategic Location: Its location in Indonesia, a major coal-producing country, provides access to abundant coal reserves.
- Established Infrastructure: The company's ownership of coal port facilities and transportation networks enhances its ability to export coal efficiently.
- Government Support: As a subsidiary of a state-owned enterprise, PT Bukit Asam Tbk benefits from government support and access to resources.
What Does TBNGY Do?
PT Bukit Asam Tbk (TBNGY) was established in 1919 and is headquartered in Tanjung Enim Selatan, Indonesia. Originally known as PT Bukit Asam Persero Tbk, the company changed its name in November 2017. As a subsidiary of PT Indonesia Asahan Aluminium (Persero), PT Bukit Asam Tbk is primarily engaged in coal mining activities, encompassing general surveying, exploration, exploitation, processing, refining, transportation, and trading. The company manages special coal port facilities and operates steam power plants, providing consulting services related to the coal mining industry and production. Beyond its core coal operations, PT Bukit Asam Tbk offers briquette processing, mining services, oil palm plantation and processing, and health services, along with real estate and construction services. The company's market reach extends beyond Indonesia, with operations in China, the Philippines, Taiwan, Japan, India, Malaysia, South Korea, Thailand, Vietnam, and Hong Kong, demonstrating a significant international presence. With a workforce of 1,675 employees, PT Bukit Asam Tbk plays a crucial role in Indonesia's energy sector, contributing to both domestic and international coal markets.
What Products and Services Does TBNGY Offer?
- Engages in coal mining activities in Indonesia.
- Conducts general surveying, exploration, and exploitation of coal reserves.
- Processes and refines coal to meet market demands.
- Transports and trades coal both domestically and internationally.
- Manages special coal port facilities to facilitate coal exports.
- Operates steam power plants for electricity generation.
- Provides consulting services related to the coal mining industry and production.
- Offers briquette processing, mining services, oil palm plantation, health, real estate, and construction services.
How Does TBNGY Make Money?
- Extracts coal from its mining concessions in Indonesia.
- Processes and refines the coal to meet customer specifications.
- Sells coal to domestic and international customers, including power plants and industrial users.
- Generates revenue from coal sales, mining services, and other related activities.
What Industry Does TBNGY Operate In?
PT Bukit Asam Tbk operates within the global coal industry, which is characterized by fluctuating prices and evolving environmental regulations. The demand for coal remains strong in Asia, particularly in countries like China and India, driving growth for coal producers. The competitive landscape includes both domestic Indonesian players and international mining companies. PT Bukit Asam Tbk's integrated operations, from mining to transportation, provide a competitive advantage. The industry faces increasing pressure to adopt cleaner energy technologies and reduce carbon emissions, impacting long-term growth prospects.
Who Are TBNGY's Key Customers?
- Power plants that use coal for electricity generation.
- Industrial companies that use coal for manufacturing processes.
- Trading companies that distribute coal to various markets.
- Domestic and international markets, including China, India, and Southeast Asian countries.
FY2026 estForward Outlook
Wall Street analysts project PT Bukit Asam Tbk revenue of about $48.56T for fiscal 2026, with EPS near $0.00. The estimate reflects 9 contributing analysts.
F-Score 6/9Financial Health
PT Bukit Asam Tbk's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 2.49 places it in the grey zone, a middle ground that warrants monitoring.
ROE 15%Key Financial Metrics
Return on equity for PT Bukit Asam Tbk stands at 15.5%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 7.7%, showing how much profit it generates from its asset base. TBNGY trades at a trailing price-to-earnings ratio of 8.72, below the Energy sector average of ~17x. Its free cash flow yield is 12.4%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.27 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 12.6%, the inverse of the P/E and a quick read on earnings relative to price.
PT Bukit Asam Tbk (TBNGY) Valuation Context
Valued at $1.52B, TBNGY is classified as a small-cap stock. Relative to its peer group, TBNGY's quantitative score of 41/100 is roughly in line with the peer average of 47/100.
TBNGY Revenue & Earnings Trend
In Q1 2026, TBNGY generated $10.08T in top-line revenue, marking a sequential decrease of 11.0%. The company recorded net income of $813.54B, with diluted EPS of $1766.36. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Energy. Across the four most recent quarters, TBNGY averaged $1820.54 in diluted EPS.
Company Profile
PT Bukit Asam Tbk operates in the Coal industry within the Energy sector. It is headquartered in Tanjung Enim Selatan, ID. The company is led by CEO Arsal Ismail. TBNGY has traded publicly since 2011.
TBNGY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in the company's future, indicating a positive outlook from leadership.
- Community sentiment has shifted positively, with discussions around potential growth in the coal sector as energy demand increases.
- Positive news on sustainability initiatives has resonated well within the market, enhancing the company's reputation.
- Analysts have noted improved operational efficiency, which could lead to stronger profit margins moving forward.
Bear Case
- Concerns over regulatory changes in the coal industry have raised doubts about long-term viability, impacting investor sentiment.
- Social media discussions highlight fears of declining coal demand as renewable energy gains traction, causing bearish sentiment.
- Recent geopolitical tensions have led to uncertainty in supply chains, which could affect the company's operations negatively.
- Market perception remains cautious due to fluctuating global energy prices, leading to skepticism among traders.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $10075.17B | $813.54B | $1766.36 |
| Q4 2025 | $11321.43B | $1535.93B | $3332.99 |
| Q3 2025 | $10932.22B | $563.78B | $1224.09 |
| Q2 2025 | $10493.95B | $441.56B | $958.73 |
Based on FMP financials and quantitative analysis
TBNGY Latest News
No recent news available for TBNGY.
TBNGY Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for TBNGY.
Price Targets
Wall Street price target analysis for TBNGY.
TBNGY MoonshotScore
What does this score mean?
The MoonshotScore rates TBNGY's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Classification
Industry CoalLeadership: Arsal Ismail
CEO
Arsal Ismail is the CEO of PT Bukit Asam Tbk, responsible for managing the company's overall operations and strategic direction. His background includes extensive experience in the energy and mining sectors, with a focus on operational efficiency and sustainable development. He has held various leadership positions in Indonesian state-owned enterprises, contributing to the growth and modernization of the country's energy infrastructure. He is known for his expertise in navigating complex regulatory environments and fostering strong relationships with stakeholders.
Track Record: Under Arsal Ismail's leadership, PT Bukit Asam Tbk has focused on expanding its market presence in Asia and diversifying into renewable energy projects. He has overseen the implementation of new technologies to improve mining efficiency and reduce environmental impact. Key milestones include the development of new coal port facilities and the expansion of briquette processing operations. He has also prioritized strengthening the company's relationships with local communities and promoting sustainable mining practices.
PT Bukit Asam Tbk ADR Information Unsponsored
An American Depositary Receipt (ADR) is a certificate representing shares of a foreign company trading on U.S. stock exchanges. TBNGY functions as a Level 1 ADR, meaning it trades over-the-counter (OTC) without needing to meet the stringent listing requirements of exchanges like the NYSE or NASDAQ. This allows U.S. investors to invest in PT Bukit Asam Tbk without directly dealing with the Indonesian stock market.
- Home Market Ticker: Indonesia Stock Exchange (IDX), Indonesia
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: TBNG
TBNGY OTC Market Information
The OTC Other tier represents the lowest tier of the over-the-counter (OTC) market, indicating that PT Bukit Asam Tbk has limited reporting requirements and may not meet the listing standards of major exchanges like the NYSE or NASDAQ. Companies on this tier often have minimal financial disclosure, making it more difficult for investors to assess their financial health and operational performance. Investing in OTC Other stocks carries higher risks compared to stocks listed on regulated exchanges due to the lack of transparency and regulatory oversight.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited Financial Disclosure: The lack of comprehensive financial reporting increases the difficulty in assessing the company's financial health and performance.
- Lower Liquidity: Reduced trading volume and wider bid-ask spreads can make it challenging to buy or sell shares at desired prices.
- Increased Volatility: The stock may be more susceptible to price swings due to lower liquidity and market participation.
- Regulatory Risks: OTC stocks are subject to less regulatory oversight, increasing the potential for fraud or mismanagement.
- Information Asymmetry: Limited access to information can create an uneven playing field between the company and investors.
- Verify the company's registration and legal status.
- Research the company's management team and their track record.
- Assess the availability and reliability of financial information.
- Evaluate the company's business model and competitive position.
- Understand the risks associated with investing in OTC stocks.
- Consult with a financial advisor to assess the suitability of the investment.
- Monitor the company's news and announcements for any red flags.
- Subsidiary of PT Indonesia Asahan Aluminium (Persero): Being a subsidiary of a state-owned enterprise provides a degree of credibility.
- Established Operations: The company has a long history of coal mining operations in Indonesia.
- International Presence: The company's operations in multiple countries suggest a certain level of business activity.
- Dividend Payments: The company's history of paying dividends could indicate financial stability and profitability.
Common Questions About TBNGY (Energy)
What does PT Bukit Asam Tbk do?
PT Bukit Asam Tbk is an Indonesian coal mining company that engages in the exploration, exploitation, processing, and trading of coal. It manages special coal port facilities, operates steam power plants, and provides consulting services related to the coal mining industry. The company also offers briquette processing, mining services, oil palm plantation and processing, and health services, as well as real estate and construction services. Its operations extend beyond Indonesia, with a presence in China, the Philippines, Taiwan, Japan, India, Malaysia, South Korea, Thailand, Vietnam, and Hong Kong.
What are the main risks for TBNGY?
The main risks for PT Bukit Asam Tbk include fluctuating coal prices, increasing environmental regulations, competition from other coal producers and alternative energy sources, geopolitical risks, and currency risk. As an OTC stock, TBNGY also faces risks related to limited financial disclosure, lower liquidity, and increased volatility. Investors should carefully consider these risks before investing in TBNGY and conduct thorough due diligence to assess the company's financial health and operational performance.
What are the key factors to evaluate for TBNGY?
PT Bukit Asam Tbk (TBNGY) holds an AI score of 41/100 (low). P/E: 8.7x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does TBNGY data refresh on this page?
TBNGY prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven TBNGY's recent stock price performance?
PT Bukit Asam Tbk (TBNGY) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Integrated operations from mining to transportation. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider TBNGY overvalued or undervalued right now?
PT Bukit Asam Tbk (TBNGY) trades at 8.7x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying TBNGY?
Before investing in PT Bukit Asam Tbk (TBNGY), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding TBNGY to a portfolio?
Key strength of PT Bukit Asam Tbk (TBNGY): Integrated operations from mining to transportation. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Limited analyst coverage due to OTC listing.
- Financial data based on available public information.