PT Bank Negara Indonesia (Persero) Tbk, (BBNI) Fair Value & Analysis
Financial Services · ID · Market cap 129T IDR
Fair value as of: Aug 13, 2026
From 4 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from 6,920 IDR to 6,702 IDR (−3.2%) since Jul 16, 2026. Share price +4.9% over the past month.
A solid business, screening 85% undervalued on our models.
What matters now
- The price is below even our cautious bear case (5,026 IDR). The market is more pessimistic than our downside scenario.
- Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
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
60‑month range 1,725 IDR – 4,989 IDR · fair‑value band 5,026 IDR – 8,377 IDR · the 3,630 IDR price screens below the 6,702 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.
Analysis
PT Bank Negara Indonesia (Persero) Tbk, (BBNI) currently trades at 3,630 IDR, while our model-based Fair Value estimate is 6,702 IDR, implying the stock looks roughly 84.6% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Financial Services 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: high), always confirm before acting.
Over the trailing twelve months, PT Bank Negara Indonesia (Persero) Tbk, generated revenue of 50.8T IDR at a net margin of 40.0%. Revenue grew 7.8% year over year. It earns a return on equity of 12.0%. Net debt stands at 91.8T IDR. Fundamentals as of Aug 13, 2026
Our scenario range runs from 5,026 IDR (bear case) to 8,377 IDR (bull case); at 3,630 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 16% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 41% fair-value upside, at 85%, BBNI 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.
All 4 models by family
Widest divergence: Multiples (6,446 IDR) versus Asset-Based (3,085 IDR). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 46
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 Bank Negara Indonesia (Persero) Tbk, together with its subsidiaries, provides various banking products and services in Indonesia, rest of Asia, New York, and Europe. It operates through Corporate Banking, Institutional Banking, Commercial Banking, Consumer Banking, Treasury & International Banking, Head Office, and Subsidiaries segments.
Full company description
PT Bank Negara Indonesia (Persero) Tbk, together with its subsidiaries, provides various banking products and services in Indonesia, rest of Asia, New York, and Europe. It operates through Corporate Banking, Institutional Banking, Commercial Banking, Consumer Banking, Treasury & International Banking, Head Office, and Subsidiaries segments. The company offers savings; savings plan and FIPF products; loans; credit cards; bancassurance, payroll, and simulation services; safe deposit boxes, bank references, bonds, foreign bank notes, and mobile banking services; services to collect payments or valuable documents; and Xpora, a digital solution for small and medium enterprises. It also provides business banking, funding, lending, trade finance, smart remittance, foreign direct investment, collection and liquidity management, payment management, supply chain financing, consumer financing, wealth management, and custody and trust services; financial institution products; solutions for industrial sectors; and treasury products. In addition, the company offers insurance and venture capital services; securities; and ATM, phone and SMS banking, mobile and internet banking, and internet payment gateway services. PT Bank Negara Indonesia (Persero) Tbk was founded in 1946 and is headquartered in Jakarta Pusat, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Bank Negara Indonesia (Persero) Tbk, reported revenue of 91.8T IDR in FY2025 versus 68.8T IDR in FY2021, a compound +7.5%/yr. Reported net income was 20.0T IDR in FY2025, compounding +16.4%/yr from FY2021.
of which total revenue +6.8 pp · buybacks/dilution −4.7 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Banks - Regional · 1086 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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,350 IDR | 4,637 IDR | -27% |
| KB Financial Group 105560 | 168,100 KRW | 220,258 KRW | +31% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 3,110 IDR | 3,792 IDR | +22% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,130 IDR | 6,067 IDR | +47% |
| Banco Bradesco S.A BBD | 5,120 ARS | 8,400 ARS | +64% |
| Shinhan Financial Group 055550 | 103,800 KRW | 146,032 KRW | +41% |
| Hana Financial Group 086790 | 127,900 KRW | 210,506 KRW | +65% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Banco de Chile, CHILE | 186.85 CLP | 121.18 CLP | -35% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,500 VND | 45,959 VND | -23% |
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Frequently asked questions
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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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