PT Bumi Serpong Damai Tbk

BSDE

+0.53%

Overview

BSDE Overview

PT Bumi Serpong Damai Tbk is an Indonesia-based real estate company, which is engaged in real estate activities with owned or leased property. The Company’s segments include Residential, Commercial, Asset Management and Retail and Hospitality. The Company is focused on developing a new city, which has integrated residential area, with amenities/infrastructure, environmental facilities, and parks, called the BSD City. The Company’s real estate project is called Bumi Serpong Damai which is located in Banten Province. The Company’s subsidiaries include PT Bumi Indah Asri, PT Bumi Karawang Damai, Global Prime Capital Pte. Ltd., PT Kanaka Grahaasri, PT Kanaka Grahaasri, PT Putra Prabukarya, PT Bintaro Serpong Damai, PT Duta Dharma Sinarmas, PT Duta Karya Propertindo, PT Duta Mitra Mas, PT Duta Pertiwi Tbk, PT Mustika Karya Sejati, PT Garwita Sentra Utama, PT Grahadipta Wisesa, Global Prime Capital Pte. Ltd., PT Indonesia International Expo and PT Indonesia International Graha.

24681012ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: BSDE

Main
Market Cap.
IDR 19.97Trillion

~$1.25B USD

Industry
Real Estate Management & Development
Sub-Industry
Real Estate Development & Management
Sector
Properties & Real Estate

Valuation

BSDE Valuation Metrics

955

IDR
+0.5%

Closing Price on 2024-05-22

Price to Equity

10.27

P/E

At 10.27x P/E TTM, BSDE.JK is trading at a premium to its peers in the Properties & Real Estate sector (avg 7.5x).

Price to Book

0.55

P/B

At 0.55x P/B TTM, BSDE.JK is trading at a premium to its peers in the Properties & Real Estate sector (avg 0.5x).

Price to Sales

1.73

P/S

At 1.73x P/S TTM, BSDE.JK is trading at a discount to its peers in the Properties & Real Estate sector.

Valuing PT Bumi Serpong Damai Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Properties & Real Estate sector

Historical Price to Earnings

Other Valuation Metrics

Valuing PT Bumi Serpong Damai Tbk relative to other stocks in the Properties & Real Estate sector

Price/Cash Flow
23.76x
Price/Forward Earnings
6.67x
Enterprise Value/Revenue
1.82x
Enterprise Value/EBITDA
5.38x
PEG Ratio
-0.12x

Analyst Ratings

40
60
80
0
100

82.5

Recommended

Neutral

Not Recommended

Last closing: IDR9552024-05-22
IDR 1,240.99

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BSDE is IDR1,241, which is 31% higher than BSDE's last closing price of IDR955 (as of 2024-05-22).

Valuation Recap of BSDE 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 10.27x is above the ID market average of 8.70x and is trading at a premium to peers in the Properties & Real Estate sector (7.55x).

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 0.55x is similar to the peers average of 0.46x in the Properties & Real Estate 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 1.73x is below the peers average of 2.84x in the Properties & Real Estate sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of BSDE's valuation relative to its current sales and future earnings growth. BSDE trades at a Forward P/E ratio of 6.67x, 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. BSDE's P/CF ratio of 23.76x is considered a relatively high ratio by analysts.

Low
The Enterprise Value/Revenue ratio (EV/R) is calculated by dividing the enterprise value of a company by its revenue. It measures the company's enterprise value relative to its revenue. It is an indicator of how much it costs to buy the company's revenue; the lower the ratio, the cheaper the company's revenue. BSDE's EV/R ratio of 1.82x is considered fairly underpriced by the market The average EV/R ratio for the Properties & Real Estate sector is 3.39x.

Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BSDE is IDR 1,240.99, which is 31% higher than BSDE's last closing price of IDR 955.00.

Peers

BSDE Peers and Comparison

Market Cap.

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
MKPIMetropolitan Kentjana Tbk25.84T8.42T 2.29T 0.86T 29.963.89
CTRACiputra Development Tbk21.13T44.12T 9.25T 1.85T 11.451.05
BSDEPT Bumi Serpong Damai Tbk19.97T66.83T 11.54T 1.95T 10.270.55
PWONPakuwon Jati Tbk18.97T32.71T 6.20T 2.11T 9.010.99
MPROPT Maha Properti Indonesia Tbk.16.36T1.71T 0.01T -0.04T -419.8518.06
INPPIndonesian Paradise Property Tbk10.90T9.35T 1.10T 0.11T 103.832.04
RISEPT Jaya Sukses Makmur Sentosa Tbk.10.40T3.21T 0.28T 0.01T 798.995.04
PLINPlaza Indonesia Realty Tbk9.48T12.24T 1.30T 0.61T 15.450.87
SMRAPT Summarecon Agung Tbk9.16T31.17T 6.66T 0.77T 11.960.93
JRPTJaya Real Property Tbk8.91T13.21T 2.50T 1.00T 8.870.99
Competitiveness Recap of BSDE stock
WeightNotesScore
High
At a market cap of IDR 19,972.30 billion, BSDE.JK ranks 3 in Market Cap out of 10 companies in the Properties & Real Estate sector.

High
At a PE of 10.27, BSDE.JK ranks 7 out of 10 companies in the Properties & Real Estate sector for P/E value. The average PE is 57.99 (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 Properties & Real Estate. In this regard, it trails behind sector leaders such as PT Jaya Sukses Makmur Sentosa Tbk. (798.99) in the Properties & Real Estate sector.

Medium
At a PE of 10.27, BSDE.JK is trading at a higher PE than that of its subsector peers in Properties & Real Estate (median of 7.55). false

Medium
At a revenue of IDR 11.54 trillion, BSDE.JK ranks 1 in Revenue out of 10 companies in the Properties & Real Estate sector.

Medium
At a profit of IDR 1.95 trillion, BSDE.JK ranks 2 in Profit out of 10 companies in the Properties & Real Estate sector.

Future

Future Growth of BSDE

Growth Forecasts

BSDE 2024 Revenue Growth
-4.0%
BSDE 2025 Revenue Growth
-0.4%
BSDE 2024 EPS Growth
+29.8%
BSDE 2025 EPS Growth
+44.3%
Sector Revenue Growth
+9.5%
Properties & Real Estate
Indonesia Market Growth
+13.8%
IDX overall growth
Properties & Real Estate Sector Revenue Growth '24
+2.5%
Properties & Real Estate Sector Revenue Growth '25
+10.7%
Properties & Real Estate Sector Revenue Growth '24
+2.5%
Properties & Real Estate Sector Revenue Growth '25
+10.7%

Sector Benchmark

Properties & Real Estate companies in Indonesia are growing at a projected rate of 9.54% against the IDX average of +13.8%.

Properties & Real Estate sector overview

BSDE Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of BSDE
WeightNotesScore
High
BSDE's projected growth rate of 9.54% is below the ID market average of 13.80%.

High
The Properties & Real Estate sub-sector is projected to grow revenue by 10.70% in 2025. This number is higher than the previous year 2024's growth rate of 2.54%. This bodes well for BSDE's revenue growth prospects in the next 2 years.

Medium
The Properties & Real Estate sub-sector is projected to increase earnings by 26.47% in 2025. This number is higher than the previous year 2024's EPS growth of 14.11%. This bodes well for BSDE's earnings growth prospects in the next 2 years.

Medium
BSDE and its peers in the Properties & Real Estate sub-sector belongs to the Properties & Real Estate sector. Companies in the Properties & Real Estate sector are projected to have a fruitful year heading into 2025. Specifically, earnings are projected to increase by 26.47% in 2025 while revenue growth is projected to increase by 10.70%. These macroeconomic trends will likely be a tailwind for BSDE's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Franciscus Xaverius Rd15.2 years

Vice President Director

Michael Jackson Purwanto Widjaja15.4 years
Syukur Lawigena
Director
Liauw Herry Hendarta
Director
Hermawan Wijaya
Director
Lie Jani Harjanto
Director
Monik William
Director
Ir. Siswanto Adisaputro
Director
NamePositionShares%
Liauw, Herry HendartaDirector700,000< 0.01
Michael J.P WidjajaDirector9,830,700< 0.01
Muktar WidjajaPresident Commissioner106,210,5000.5
Syukur LawigenaDirector1,400,000< 0.01
Expressed in millions IDR, unless otherwise stated

Ownership

BSDE Ownership

Others
10.74%
Insiders
82.07%
Institutions
7.19%
NameNumber of SharesOwnership (%)Value
Pt Paraga Arta Mida8,391,639,26439.638,014.02B
Public (Scripless)6,560,014,80230.986,264.81B
Pt Ekacentra Usahamaju5,425,964,48625.635,181.80B
Public (Scrip)417,635,3601.97398.84B
Treasury Stock257,970,7001.22246.36B
Muktar Widjaja106,210,5000.5101.43B
Syukur Lawigena1,400,0000.011.34B

Largest Institutional Buy

State Street Global Advisors
Bought 31-01-2024
+9,537,486 shares
Lemanik Invest S.A.
Bought 31-01-2024
+2,500,000 shares
BlackRock Advisors (UK) Limited
Bought 31-01-2024
+114,500 shares

Largest Institutional Sell

Eastspring Investments (Singapore) Ltd
Sold 31-01-2024
-28,603,248 shares
Acadian Asset Management LLC
Sold 31-01-2024
-11,265,200 shares
Prudential
Sold 31-01-2024
-9,381,900 shares

Institutional Transactions

Tracking institutional transactions buying / selling of BSDE stock