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PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) Fair Value & Analysis

Financial Services · ID · Market cap 447T IDR

PB PT Bank Rakyat Indonesia (Persero) Tbk BBRI · JK
Price3,110 IDR
Fair Value3,792 IDR
Upside+21.9%
Quality65/100
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Healthy Growth
Highly profitable · 40.2% net margin
Low debt · generates free cash flow
12.10% dividend yield
Ranks above peers (14/15)
Wide moat 73/100
Evidence: High Range 2,844 IDR – 4,740 IDR Share as image

Fair value as of: Aug 13, 2026

From 4 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 4,891 IDR to 3,792 IDR (−22.5%) since Jul 19, 2026. Share price +11.1% over the past month.

A solid business, screening 22% undervalued on our models.

What matters now

  • Solid quality (65/100) 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.
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Price vs Fair Value (5 years)

5,213 IDR 2,394 IDR Fair Value 3,792 IDR Mar 2021 Aug 2026

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 2,394 IDR – 5,213 IDR · fair‑value band 2,844 IDR – 4,740 IDR · the 3,110 IDR price screens below the 3,792 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.

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Analysis

PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) currently trades at 3,110 IDR, while our model-based Fair Value estimate is 3,792 IDR, implying the stock looks roughly 21.9% undervalued today. The Quality Score stands at 65/100 (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 Rakyat Indonesia (Persero) Tbk generated revenue of 145T IDR at a net margin of 40.2%. Revenue grew 16.3% year over year. It earns a return on equity of 18.1%. Net debt stands at 144T IDR. Fundamentals as of Aug 13, 2026

Our scenario range runs from 2,844 IDR (bear case) to 4,740 IDR (bull case); at 3,110 IDR, the current price sits within 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 20% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 47% fair-value upside, at 22%, BBRI screens richer 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income 2,578 IDR 3,400 IDR 12,302 IDR 76
P/E Multiple 3,668 IDR 4,891 IDR 6,114 IDR 63
P/B Multiple 2,260 IDR 3,013 IDR 3,766 IDR 55
All 4 models by family
Multiples
P/E Multiple 3,668 IDR 4,891 IDR 6,114 IDR 63
P/B Multiple 2,260 IDR 3,013 IDR 3,766 IDR 55
Asset-Based
NCAV (Graham) 1,076 IDR 1,442 IDR 2,152 IDR 50
Economic Profit
Residual Income 2,578 IDR 3,400 IDR 12,302 IDR 76

Widest divergence: Economic Profit (3,400 IDR) versus Asset-Based (1,442 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 145T IDR
Revenue growth (YoY) +16.3%
Net margin 40.2%
Return on equity 18.1%
Free cash flow 106T IDR FY2025
P/E ratio 8.0
More key figures
Operating margin 42.0%
EPS (TTM) 389.07 IDR
Dividend yield 12.1%
EPS growth (YoY) +14.3%
Net debt 144T IDR FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 58 · Market factors (momentum, volatility) 44

Profitability 38
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

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 Rakyat Indonesia (Persero) Tbk provides various banking products and services in Indonesia and internationally. The company offers savings and current accounts; time, foreign currency time, and on-call deposits; mortgage, working capital, investment, franchise, and cash collateral loans, as well as supply and value chain financing and bank …

Full company description

PT Bank Rakyat Indonesia (Persero) Tbk provides various banking products and services in Indonesia and internationally. The company offers savings and current accounts; time, foreign currency time, and on-call deposits; mortgage, working capital, investment, franchise, and cash collateral loans, as well as supply and value chain financing and bank guarantees; and microphone, small and medium, and program loans. It also provides bill payment, deposit, online transaction, remittance, money transfer, business, financial, institutional, treasury and global, custodian, trustee, and cash management services. In addition, the company offers investment products and services; trade finance and services, and transaction banking services, including import and export, standby L/C, money changer, BRI RTE online system services, as well as letters of credit; credit cards; and wealth management, merchant, and digital banking services. Further, it provides life and general insurance, securities underwriting and brokerage, and venture capital services. PT Bank Rakyat Indonesia (Persero) Tbk was founded in 1895 and is headquartered in Jakarta, Indonesia. PT Bank Rakyat Indonesia (Persero) Tbk operates as a subsidiary of PT Danantara Asset Management (Persero).

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Bank Rakyat Indonesia (Persero) Tbk reported revenue of 310T IDR in FY2025 versus 176T IDR in FY2021, a compound +15.2%/yr. Reported net income was 56.7T IDR in FY2025, compounding +14.1%/yr from FY2021.

Growth Quality 99/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
310T IDR
Latest YoY
+77.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.6%
Avg. growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.3%
Revenue +15.2%/yr
FY21 176T IDR
FY22 180T IDR
FY23 209T IDR
FY24 174T IDR
FY25 310T IDR
Net income +14.1%/yr
FY21 33.5T IDR
FY22 51.2T IDR
FY23 60.1T IDR
FY24 60.2T IDR
FY25 56.7T IDR
Character of growth · EPS growth decomposed (2014-2025) +7.4 % p.a.
Revenue per share +8.0 pp

of which total revenue +10.5 pp · buybacks/dilution −2.5 pp

EBIT margin +0.1 pp
Tax rate +0.1 pp
Residual (interest, one-offs) −0.8 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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Cite: Fair Value Calculator (2026). "PT Bank Rakyat Indonesia (Persero) Tbk Fair Value". https://www.fairvalue-calculator.com/stock/BBRI

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.

Quality Score 64 · Top 25%
Fair Value upside +22% · Above median
Return on equity (TTM) 18% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 40% · Top 25%
Operating margin (TTM) 42% · Above median
Revenue growth 16% · Above median
Dividend yield (TTM) 12.1% · Top 25%
Debt / equity 0.15× · Lower than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 8.0× · Cheaper than 75% of peers
P/B 1.38× · Pricier than median
P/S (TTM) 3.07× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 5.4× · Cheaper than 75% of peers
PEG 1.24× · Cheaper than median

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.

VALUE 63 · sector 33
FUTURE 82 · sector 44
PAST 73 · sector 41
HEALTH 93 · sector 85
DIVIDEND 100 · sector 49

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 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%
Woori Financial Group 316140 33,000 KRW 60,758 KRW +84%

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Frequently asked questions

Is PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 3,792 IDR versus a price of 3,110 IDR, about +22% (undervalued).
What is the fair value of BBRI?
Our model-based fair value for PT Bank Rakyat Indonesia (Persero) Tbk is 3,792 IDR (as of Aug 13, 2026), built from audited fundamentals. The current price is 3,110 IDR.
What is the quality score of BBRI?
PT Bank Rakyat Indonesia (Persero) Tbk has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI)?
PT Bank Rakyat Indonesia (Persero) Tbk reported trailing-twelve-month revenue of about 145T IDR (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BBRI?
The net profit margin of PT Bank Rakyat Indonesia (Persero) Tbk is about 40.2%, meaning it keeps roughly 40.2% of revenue as net income. Based on the latest reported figures.
Does PT Bank Rakyat Indonesia (Persero) Tbk pay a dividend?
PT Bank Rakyat Indonesia (Persero) Tbk currently shows a dividend yield of about 13.36% relative to its recent price (as of Aug 13, 2026).

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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