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Bank Rakyat Indonesia Persero (BBRI) Fair Value & Analysis

Financial Services · ID · Market cap 447T IDR (≈ $44.7B) · ISIN ID1000118201

What is Bank Rakyat Indonesia Persero really worth?

BR Bank Rakyat Indonesia Persero BBRI · JK
Price3,390 IDR
Fair Value3,792 IDR
Upside+11.9%
Quality65/100

A solid business, trading 11% below our fair value of 3,792 IDR.

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Strengths

Healthy Growth (revenue 5y +13.6 %/yr)
Highly profitable · 40.2% net margin
Low debt · generates free cash flow
Ranks above peers (14/15)
Wide moat 73/100

Risks

!Evidence only low, so the estimate is less certain

For context

·10.21% dividend yield
Evidence: Low Range 2,844 IDR – 4,740 IDR

Fair value as of: Aug 13, 2026

From 4 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 4,891 IDR to 3,792 IDR (−22.5%) since Jul 19, 2026. Share price +12.3% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • 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)

5,213 IDR 2,394 IDR Fair Value 3,792 IDR Mar 2021 Sep 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 3,390 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

Bank Rakyat Indonesia Persero (BBRI) currently trades at 3,390 IDR, while our model-based Fair Value estimate is 3,792 IDR, implying the stock looks roughly 10.6% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of 3,400 IDR per share, and 2 of the 4 models we run sit above the 3,390 IDR price. Bear case: the Asset-Based group reads lowest at 1,442 IDR, and 2 of the 4 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Bank Rakyat Indonesia Persero 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 3,390 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 12% below its 52-week high and 31% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at 12%, BBRI screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 14.74 IDR per share, which is 0.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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 64
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 54
Economic Profit
Residual Income 2,578 IDR 3,400 IDR 12,302 IDR 64

Widest divergence: Economic Profit (3,400 IDR) versus Asset-Based (1,442 IDR). Highest evidence: Residual Income (64).

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Key figures & financial health

P/E ratio 8.7
P/S ratio 1.59 P/E × margin
EPS (TTM) 389.07 IDR price ÷ EPS = P/E 8.7
Dividend yield 10.2% payout 88.9%
Net margin 18.3% FY2025
Return on equity 18.1% TTM
More key figures
Profitability
Return on assets (EBIT) 3.6% avg 5y
Operating margin 42.0% TTM
Growth
Revenue (TTM) 145T IDR TTM
Revenue growth (YoY) +16.3% 3y avg +19.9%
EPS growth (YoY) +14.3%
Balance sheet & cash flow
Free cash flow 106T IDR FY2025
Net debt 144T IDR FY2025 · ≈ 1.4 yrs of FCF

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) 54

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 41
Price trend over the last 3–12 months (market factor)
52W Momentum 45
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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

Bank Rakyat Indonesia Persero 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. revenue 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. revenue 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. revenue 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%
Value creation/yr (5Y, in IDR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+18.2% (8.0 + 10.2)
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 %

of which total revenue +10.5 % · buybacks/dilution −2.2 %

EBIT margin +0.1 %
Tax rate +0.1 %
Residual (interest, one-offs) −0.7 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Bank Rakyat Indonesia Persero Fair Value". https://www.fairvalue-calculator.com/stock/BBRI

Peer Group

Banks - Regional · 1071 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 +12% · 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) 10.2% · Top 25%
Debt / equity 0.15× · Lower than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 8.7× · 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

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE49 · sector 33
FUTURE82 · sector 45
PAST73 · sector 41
HEALTH93 · sector 85
DIVIDEND100 · sector 51

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

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
DBS Group D05 75.65 SGD 40.48 SGD −46%
China Merchants Bank Co 3968 HK$47.96 HK$76.51 +60%
Intesa Sanpaolo S.p.A ISP €6.78 €5.66 −17%
HDFC Bank Limited HDB $23.17 $24.12 +4%
BNP Paribas SA BNP €102.56 €144.64 +41%
UniCredit S.p.A UCG €84.71 €77.62 −8%
Mizuho Financial Group MFG $10.74 $9.69 −10%
ICICI Bank Limited ICICIBANK ₹1,443 ₹835.21 −42%
Oversea-Chinese Banking Corporation O39 31.07 SGD 19.80 SGD −36%
CaixaBank, S.A CABK €13.52 €8.85 −35%

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Frequently asked questions

Is Bank Rakyat Indonesia Persero (BBRI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 3,792 IDR versus a price of 3,390 IDR, about +12% upside (undervalued).
What is the fair value of BBRI?
Our model-based fair value for Bank Rakyat Indonesia Persero is 3,792 IDR (as of Aug 13, 2026), built from audited fundamentals. The current price: 3,390 IDR.
What is the quality score of BBRI?
Bank Rakyat Indonesia Persero 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 Bank Rakyat Indonesia Persero (BBRI)?
Bank Rakyat Indonesia Persero 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 Bank Rakyat Indonesia Persero is about 40.2%, meaning it keeps roughly 40.2% of revenue as net income. Based on the latest reported figures.
Does Bank Rakyat Indonesia Persero pay a dividend?
Bank Rakyat Indonesia Persero currently shows a dividend yield of about 10.21% relative to its recent price (as of Aug 13, 2026).
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