PT Bank Negara Indonesia (Persero) Tbk

bbni

-3.79%

Overview

BBNI Overview

PT Bank Negara Indonesia (Persero) Tbk is engaged in the banking sector. Its segments include Wholesale & International Banking, Institutional Banking, Enterprises & Commercial Banking, Retail Banking, and Treasury. Wholesale & International Banking segment includes loans, customer deposits and other transactions belonging to corporate customers, both BUMN and private business entities. Institutional Banking segment includes loans, customer deposits and other transactions belonging to customers of ministries, government institutions, foundations, and universities. Enterprises & Commercial Banking segment includes loans, customer deposits and other transactions belonging to customers of middle/commercial. Retail Banking segment includes loans, customer deposits and other transactions belonging to consumer customers, including credit programs and consumer financing loans. Treasury segment includes foreign exchange transactions, money market, fixed income, and the capital markets.

5101520ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: BBNI

Main
Market Cap.
IDR 160.54Trillion
#10 in Indonesia

~$9.86B USD

Industry
Banks
Sub-Industry
Banks
Sector
Financials
Sub-Sector

Valuation

BBNI Valuation Metrics

4,310

IDR
-3.8%

Closing Price on 2024-06-14

Price to Equity

7.62

P/E

At 7.62x P/E TTM, BBNI.JK is trading at a discount to its peers in the Banks sector.

Price to Book

1.11

P/B

At 1.11x P/B TTM, BBNI.JK is trading at a premium to its peers in the Banks sector (avg 0.8x).

Price to Sales

2.66

P/S

At 2.66x P/S TTM, BBNI.JK is trading at a discount to its peers in the Banks sector.

Valuing PT Bank Negara Indonesia (Persero) 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 Negara Indonesia (Persero) Tbk relative to other stocks in the Banks sector

Price/Cash Flow
-50.41x
Price/Forward Earnings
6.26x
PEG Ratio
0.50x

Analyst Ratings

40
60
80
0
100

85.0

Recommended

Neutral

Not Recommended

Last closing: IDR4,3102024-06-14
IDR 7,291.09

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BBNI is IDR7,291, which is 70% higher than BBNI's last closing price of IDR4,310 (as of 2024-06-14).

Valuation Recap of BBNI 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 7.62x is below the ID market average of 8.07x and is trading at a discount to peers in the Banks sector (13.15x). In fact, less than 25% of its peers trade at a lower P/E ratio than BBNI.

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 1.11x is similar to the peers average of 0.76x 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 2.66x is below the peers average of 3.52x in the Banks sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of BBNI's valuation relative to its current sales and future earnings growth. BBNI trades at a Forward P/E ratio of 6.26x, 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. BBNI's P/CF ratio of -50.41x is considered healthy by analysts.

Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BBNI is IDR 7,291.09, which is 70% higher than BBNI's last closing price of IDR 4,310.00.

Peers

BBNI 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.1,140.26T1,408.11T 101.91T 48.64T 23.444.70
BBRIPT Bank Rakyat Indonesia (Persero) Tbk630.31T1,989.07T 178.91T 59.88T 10.532.15
BMRIPT Bank Mandiri (Persero) Tbk536.67T2,174.22T 123.24T 55.06T 9.752.06
BBNIPT Bank Negara Indonesia (Persero) Tbk160.54T1,066.72T 60.27T 21.08T 7.621.11
BRISPT Bank Syariah Indonesia Tbk106.15T357.90T 19.39T 5.91T 17.972.62
SMMAPT Sinar Mas Multiartha Tbk92.81T116.18T 25.19T 0.45T 207.423.96
DNETPT Indoritel Makmur Internasional Tbk.68.93T20.44T 1.40T 0.58T 118.685.35
MEGABank Mega Tbk60.76T126.53T 7.85T 3.60T 16.893.05
BNGAPT Bank CIMB Niaga Tbk41.02T332.99T 19.03T 6.58T 6.230.80
BNLIBank Permata Tbk31.66T252.84T 11.97T 2.95T 10.740.78
Competitiveness Recap of BBNI stock
WeightNotesScore
High
At a market cap of IDR 160,537.15 billion, BBNI.JK ranks 4 in Market Cap out of 10 companies in the Financials sector.

High
At a PE of 7.62, BBNI.JK ranks 9 out of 10 companies in the Financials sector for P/E value. The average PE is 42.93 (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 Sinar Mas Multiartha Tbk (207.42) in the Financials sector.

Medium
At a PE of 7.62, BBNI.JK is trading at a lower PE than that of its subsector peers in Banks (median of 13.15). 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 60.27 trillion, BBNI.JK ranks 4 in Revenue out of 10 companies in the Financials sector.

Medium
At a profit of IDR 21.08 trillion, BBNI.JK ranks 4 in Profit out of 10 companies in the Financials sector.

Future

Future Growth of BBNI

Growth Forecasts

BBNI 2024 Revenue Growth
+7.9%
BBNI 2025 Revenue Growth
+17.8%
BBNI 2024 EPS Growth
+7.5%
BBNI 2025 EPS Growth
+23.2%
Sector Revenue Growth
+16.6%
Banks
Indonesia Market Growth
+13.1%
IDX overall growth
Banks Sector Revenue Growth '24
+14.5%
Banks Sector Revenue Growth '25
+21.2%
Financials Sector Revenue Growth '24
+13.1%
Financials Sector Revenue Growth '25
+21.0%

Sector Benchmark

Banks companies in Indonesia are growing at a projected rate of 16.61% against the IDX average of +13.1%.

Banks sector overview

BBNI Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of BBNI
WeightNotesScore
High
BBNI's projected growth rate of 16.61% is above the ID market average of 13.14%.

High
The Banks sub-sector is projected to grow revenue by 21.20% in 2025. This number is higher than the previous year 2024's growth rate of 14.46%. This bodes well for BBNI's revenue growth prospects in the next 2 years.

Medium
The Banks sub-sector is projected to increase earnings by 18.51% in 2025. This number is higher than the previous year 2024's EPS growth of 5.91%. This bodes well for BBNI's earnings growth prospects in the next 2 years.

Medium
BBNI 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 18.49% in 2025 while revenue growth is projected to increase by 21.05%. These macroeconomic trends will likely be a tailwind for BBNI's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Royke Tumilaar 15.2 years

Vice President Director

Adi Sulistyowati 15.4 years
Corina Leyla Karnalies
Director
Novita Widya Anggraini
Director
Silvano W. Rumantir
Director
David Pirzada
Director
Sis Apik Wijayanto
Director
Ronny Venir
Director
Muhammad Iqbal
Director
Toto Prasetio
Director
Putrama W. Setyawan
Director
Mucharom
Director
NamePositionShares%
Adi SulistyowatiDirector1,567,706< 0.01
AskolaniCommissioner809,086< 0.01
Corina Leyla KarnaliesDirector1,442,034< 0.01
David PirzadaDirector880,044< 0.01
Fadlansyah LubisCommissioner43,484< 0.01
MucharomDirector348,008< 0.01
Muhammad IqbalDirector948,044< 0.01
Novita Widya AnggrainiDirector948,044< 0.01
Putrama Wahju SetyawanDirector1,686,386< 0.01
Robertus BilliteaCommissioner42,400< 0.01
Ronny VenirDirector1,559,656< 0.01
Royke TumilaarDirector1,115,346< 0.01
Silvano W. RumantirDirector948,044< 0.01
Sis Apik WijayantoDirector1,579,946< 0.01
SusyantoCommissioner634,594< 0.01
Toto PrasetioDirector89,856< 0.01
Expressed in millions IDR, unless otherwise stated

Ownership

BBNI Ownership

NameNumber of SharesOwnership (%)Value
Republic Of Indonesia22,378,387,7506096,450.85B
Public (Scripless)14,857,014,86039.8364,033.73B
Treasury Stock40,514,6000.11174.62B
Public (Scrip)6,753,0280.0229.11B

Largest Institutional Buy

Janus Henderson Investors Ltd
Bought 31-01-2024
+31,939,200 shares
Aberdeen Standard Investments
Bought 31-01-2024
+30,928,100 shares
AllianceBernstein L.P.
Bought 31-01-2024
+22,593,200 shares

Largest Institutional Sell

Principal Global Investors LLC
Sold 31-01-2024
-213,901,100 shares
Invesco Asset Management Ltd
Sold 31-01-2024
-156,714,200 shares
PineBridge Investments Asia Limited
Sold 31-01-2024
-118,282,800 shares

Institutional Transactions

Tracking institutional transactions buying / selling of BBNI stock

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