PT Bank CIMB Niaga Tbk

BNGA

+0.82%

Overview

BNGA Overview

PT Bank CIMB Niaga Tbk (the Bank) is an Indonesia-based company, which is engaged providing general banking services. The Bank operates through seven segments: Corporate, Business, Retail, Treasury, Sharia, Subsidiaries, and Others. The Corporate segment includes loans, deposits and other transactions, and balances with corporate customers. The Business segment includes products and services for customer segments comprising small to medium scale enterprises. The Retail segment focuses on products and services for individual customers. This segment includes products, such as loans, deposits and other transactions, and balances with retail customers. The Treasury segment undertakes its treasury activities, which include foreign exchange, money market, derivatives, and investing in placements and securities transactions. The Sharia segment includes all transactions relating to Sharia Business Unit. The Subsidiaries segment includes all transactions relating to subsidiaries businesses.

2468101214ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: BNGA

Main
Market Cap.
IDR 45.89Trillion

~$2.87B USD

Industry
Banks
Sub-Industry
Banks
Sector
Financials
Sub-Sector

Valuation

BNGA Valuation Metrics

1,840

IDR
+0.8%

Closing Price on 2024-05-22

Price to Equity

6.97

P/E

At 6.97x P/E TTM, BNGA.JK is trading at a discount to its peers in the Banks sector.

Price to Book

0.90

P/B

At 0.90x P/B TTM, BNGA.JK is trading in line with its peers in the Banks sector.

Price to Sales

2.41

P/S

At 2.41x P/S TTM, BNGA.JK is trading at a discount to its peers in the Banks sector.

Valuing PT Bank CIMB Niaga Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Banks sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Bank CIMB Niaga Tbk relative to other stocks in the Banks sector

Price/Cash Flow
7.53x
Price/Forward Earnings
6.20x
PEG Ratio
0.17x

Analyst Ratings

40
60
80
0
100

62.5

Recommended

Neutral

Not Recommended

Last closing: IDR1,8402024-05-22
IDR 2,630.21

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BNGA is IDR2,630, which is 44% higher than BNGA's last closing price of IDR1,840 (as of 2024-05-22).

Valuation Recap of BNGA stock
WeightNotesScore
High
The P/E ratio is calculated by dividing the market price of a company's stock by its earnings per share (EPS). It is a key tool for investors and analysts to assess whether a stock is overvalued, undervalued, or fairly valued. A P/E ratio of 6.97x is below the ID market average of 8.70x and is trading at a discount to peers in the Banks sector (14.27x). In fact, less than 25% of its peers trade at a lower P/E ratio than BNGA.

High
The P/B ratio is calculated by dividing the market price of a company's stock by its book value per share (BVPS). It measures the company's stock value relative to its assets minus liabilities. A P/B ratio of 0.90x is similar to the peers average of 0.79x in the Banks sector.

Medium
The P/S ratio is calculated by dividing the market price of a company's stock by its sales per share. It measures the company's stock value relative to its sales. A P/S ratio of 2.41x is below the peers average of 3.78x in the Banks sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of BNGA's valuation relative to its current sales and future earnings growth. BNGA trades at a Forward P/E ratio of 6.20x, which is considered fairly undervalued by analysts.

Low
The Price/Cash Flow ratio (P/CF) is calculated by dividing the market price of a company's stock by its cash flow per share. It measures the company's stock value relative to its cash flow, and is sometimes said to be a more objective measure of a company's value because cash flows cannot be manipulated as easily as earnings, which considers non-cash items such as depreciation and amortization. BNGA's P/CF ratio of 7.53x is considered healthy by analysts.

Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BNGA is IDR 2,630.21, which is 44% higher than BNGA's last closing price of IDR 1,840.00.

Peers

BNGA Peers and Comparison

Peer Companies

Supertype Fuzzy Search
SymbolCompany Name
Market Cap
(in Trillion IDR)
Total Assets
(in Trillion IDR)
Total Revenue
(in Trillion IDR)
Profit and Loss
(in Trillion IDR)
P/E
P/B
BBCAPT Bank Central Asia Tbk.1,161.87T1,408.11T 101.91T 48.64T 23.894.79
BBRIPT Bank Rakyat Indonesia (Persero) Tbk711.73T1,989.07T 178.91T 59.88T 11.892.43
BMRIPT Bank Mandiri (Persero) Tbk564.67T2,174.22T 133.10T 55.06T 10.262.16
BBNIPT Bank Negara Indonesia (Persero) Tbk177.30T1,066.72T 60.27T 21.08T 8.411.22
BRISPT Bank Syariah Indonesia Tbk107.48T357.90T 19.39T 5.91T 18.192.65
SMMAPT Sinar Mas Multiartha Tbk90.42T116.18T 25.19T 0.45T 202.083.86
DNETPT Indoritel Makmur Internasional Tbk.66.52T20.71T 1.39T 0.72T 92.265.19
MEGABank Mega Tbk59.88T126.53T 7.85T 3.60T 16.643.00
BNGAPT Bank CIMB Niaga Tbk45.89T332.99T 19.03T 6.58T 6.970.90
ARTOPT Bank Jago Tbk.33.12T22.50T 1.69T 0.07T 459.943.95
Competitiveness Recap of BNGA stock
WeightNotesScore
High
At a market cap of IDR 45,886.65 billion, BNGA.JK ranks 9 in Market Cap out of 10 companies in the Financials sector.

High
At a PE of 6.97, BNGA.JK ranks 10 out of 10 companies in the Financials sector for P/E value. The average PE is 85.05 (unadjusted). A high P/E ratio often indicates higher growth expectation, or other qualitative factors that led investors to believe that the company has a defensible competitive advantage compared to its peers in Financials. In this regard, it trails behind sector leaders such as PT Bank Jago Tbk. (459.94) in the Financials sector.

Medium
At a PE of 6.97, BNGA.JK is trading at a lower PE than that of its subsector peers in Banks (median of 14.27). A lower P/E value presents a potential value opportunity, but it might also indicate that the company is facing headwinds in its business.

Medium
At a revenue of IDR 19.03 trillion, BNGA.JK ranks 7 in Revenue out of 10 companies in the Financials sector.

Medium
At a profit of IDR 6.58 trillion, BNGA.JK ranks 5 in Profit out of 10 companies in the Financials sector.

Future

Future Growth of BNGA

Growth Forecasts

BNGA 2024 Revenue Growth
+26.2%
BNGA 2024 EPS Growth
+37.8%
Sector Revenue Growth
+18.7%
Banks
Indonesia Market Growth
+13.8%
IDX overall growth
Banks Sector Revenue Growth '24
+32.2%
Banks Sector Revenue Growth '25
+19.9%
Financials Sector Revenue Growth '24
+32.9%
Financials Sector Revenue Growth '25
+19.8%

Sector Benchmark

Banks companies in Indonesia are growing at a projected rate of 18.72% against the IDX average of +13.8%.

Banks sector overview

BNGA Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of BNGA
WeightNotesScore
High
BNGA's projected growth rate of 18.72% is above the ID market average of 13.80%.

High
The Banks sub-sector is projected to grow revenue by 19.92% in 2025. This number is lower than the previous year 2024's growth rate of 32.22%. This bodes well for BNGA's revenue growth prospects in the next 2 years.

Medium
The Banks sub-sector is projected to increase earnings by 18.44% in 2025. This number is lower than the previous year 2024's EPS growth of 31.44%. This bodes well for BNGA's earnings growth prospects in the next 2 years.

Medium
BNGA and its peers in the Banks sub-sector belongs to the Financials sector. Companies in the Financials sector are projected to have a fruitful year heading into 2025. Specifically, earnings are projected to increase by 18.41% in 2025 while revenue growth is projected to increase by 19.77%. These macroeconomic trends will likely be a headwind for BNGA's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Lani Darmawan15.2 years
Lee Kai Kwong
Director
John Simon
Director
Pandji Pratama Djajanegara
Director
Fransiska Oei
Director
Tjioe Mei Tjuen
Director
Rusly Johannes
Director
Joni Raini
Director
Henky Sulistyo
Director
Noviady Wahyudi
Director
NamePositionShares%
Fransiska OeiDirector774,401< 0.01
Henky SulistyoDirector51,600< 0.01
John SimonDirector747,501< 0.01
Joni Raini Director128,801< 0.01
Lani DarmawanPresident Director1,156,601< 0.01
Lee Kai Kwong Director465,700< 0.01
Pandji P DjajanegaraDirector594,426< 0.01
Rusly JohannesDirector635,501< 0.01
Tjioe Mei TjuenDirector163,300< 0.01
Vera HandajaniCommissioner1,009,401< 0.01
Expressed in millions IDR, unless otherwise stated

Ownership

BNGA Ownership

Others
2.4%
Insiders
95.36%
Institutions
2.24%
NameNumber of SharesOwnership (%)Value
Cimb Group Sdn Bhd22,991,336,58191.4842,304.06B
Public (Scripless)1,717,023,7596.833,159.32B
Pt Commerce Kapital255,399,7481.02469.94B
Treasury Stock145,209,4820.58267.19B
Public (Scrip)16,910,0410.0731.11B

Largest Institutional Buy

State Street Global Advisors
Bought 31-01-2024
+1,520,700 shares
AFH Independent Financial Services Ltd
Bought 31-01-2024
+1,437,900 shares
Arrowstreet Capital, L.P.
Bought 31-01-2024
+15,003 shares

Largest Institutional Sell

Principal Asset Management Berhad
Sold 31-01-2024
-1,912,500 shares
SSGA Funds Management Inc
Sold 31-01-2024
-1,368,100 shares
AXA Investment Managers UK Ltd
Sold 31-01-2024
-1,107,900 shares

Institutional Transactions

Tracking institutional transactions buying / selling of BNGA stock