Bank Pembangunan Daerah Jawa Timur Tbk

bjtm

+0.85%

Overview

BJTM Overview

PT Bank Pembangunan Daerah Jawa Timur Tbk is an Indonesia-based commercial bank. The Company's segments include conventional and sharia. The Company's products and services include deposit products; consumer loans products; commercial, corporate and syndication loan; micro, retail dan loan program; treasury products; trade finance product; business services; institutional services; sharia financing products; sharia fund products and services, and e-channel and other services. Its deposit products include Rupiah Current Account, Foreign Currency Current Account, Rupiah Deposits, Foreign Currency Deposits (USD), Simpeda Savings and Simpanan Pelajar (SIMPEL). Its business services include real time gross settlement (RTGS), Bpd Net Online, Jatim Electronic Transfer System (JETS) and Giralization. The Company's sharia financing products include Multiguna Syariah, KPR iB Griya Barokah, KPR Sejahtera, Umroh iB Maqbulla and Working Capital Financing for Ib Barokah Property Construction.

5101520ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: BJTM

Main
Market Cap.
IDR 8.93Trillion

~$558.34M USD

Industry
Banks
Sub-Industry
Banks
Sector
Financials
Sub-Sector

Valuation

BJTM Valuation Metrics

595

IDR
+0.8%

Closing Price on 2024-04-18

Price to Equity

6.08

P/E

At 6.08x P/E TTM, BJTM.JK is trading at a discount to its peers in the Banks sector.

Price to Book

0.74

P/B

At 0.74x P/B TTM, BJTM.JK is trading in line with its peers in the Banks sector.

Price to Sales

1.60

P/S

At 1.60x P/S TTM, BJTM.JK is trading at a discount to its peers in the Banks sector.

Valuing Bank Pembangunan Daerah Jawa Timur 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 Bank Pembangunan Daerah Jawa Timur Tbk relative to other stocks in the Banks sector

Price/Cash Flow
3.66x
Price/Forward Earnings
6.71x
PEG Ratio
-1.77x

Analyst Ratings

40
60
80
0
100

100.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR5952024-04-18
IDR 1,425.34

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BJTM is IDR1,425, which is 141% higher than BJTM's last closing price of IDR595 (as of 2024-04-18).

Valuation Recap of BJTM 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 6.08x is below the ID market average of 8.46x and is trading at a discount to peers in the Banks sector (13.24x). In fact, less than 25% of its peers trade at a lower P/E ratio than BJTM.

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 0.74x is similar to the peers average of 0.84x 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 1.60x is below the peers average of 3.43x in the Banks sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of BJTM's valuation relative to its current sales and future earnings growth. BJTM trades at a Forward P/E ratio of 6.71x, 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. BJTM's P/CF ratio of 3.66x is considered healthy by analysts.

Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BJTM is IDR 1,425.34, which is 141% higher than BJTM's last closing price of IDR 595.00.

Peers

BJTM 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.1,168.03T1,381.45T 98.47T 48.20T 24.234.95
BBRIPT Bank Rakyat Indonesia (Persero) Tbk825.58T1,851.96T 175.51T 56.01T 14.742.69
BMRIPT Bank Mandiri (Persero) Tbk634.67T2,007.16T 135.73T 49.58T 12.802.61
BBNIPT Bank Negara Indonesia (Persero) Tbk197.25T1,086.66T 61.51T 20.91T 9.431.31
BRISPT Bank Syariah Indonesia Tbk119.94T319.85T 19.34T 5.26T 22.823.23
SMMAPT Sinar Mas Multiartha Tbk92.97T106.59T 28.35T 1.10T 84.384.30
DNETPT Indoritel Makmur Internasional Tbk.65.53T20.71T 1.39T 0.72T 90.885.11
MEGABank Mega Tbk60.47T132.12T 7.81T 3.51T 17.222.78
BNGAPT Bank CIMB Niaga Tbk50.38T329.13T 18.53T 6.10T 8.261.07
BNLIBank Permata Tbk34.91T251.94T 11.63T 1.91T 18.270.89
Competitiveness Recap of BJTM stock
WeightNotesScore
High
At a market cap of IDR 8,934.22 billion, BJTM.JK ranks 10 in Market Cap out of 10 companies in the Financials sector.

High
At a PE of 6.08, BJTM.JK ranks 10 out of 10 companies in the Financials sector for P/E value. The average PE is 29.08 (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 Indoritel Makmur Internasional Tbk. (90.88) in the Financials sector.

Medium
At a PE of 6.08, BJTM.JK is trading at a lower PE than that of its subsector peers in Banks (median of 13.24). 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 5.57 trillion, BJTM.JK ranks 9 in Revenue out of 10 companies in the Financials sector.

Medium
At a profit of IDR 1.47 trillion, BJTM.JK ranks 8 in Profit out of 10 companies in the Financials sector.

Future

Future Growth of BJTM

Growth Forecasts

BJTM 2024 Revenue Growth
-23.4%
BJTM 2024 EPS Growth
0.0%
Sector Revenue Growth
+14.6%
Banks
Indonesia Market Growth
+7.6%
IDX overall growth
Banks Sector Revenue Growth '24
+33.5%
Financials Sector Revenue Growth '24
+34.1%

Sector Benchmark

Banks companies in Indonesia are growing at a projected rate of 14.60% against the IDX average of +7.6%.

Banks sector overview

BJTM Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of BJTM
WeightNotesScore
High
BJTM's projected growth rate of 14.60% is above the ID market average of 7.62%.

High
The Banks sub-sector is projected to grow revenue by 33.55% in 2024. This number is higher than the previous year 2023's growth rate of 13.79%. This bodes well for BJTM's revenue growth prospects in the next 2 years.

Medium
The Banks sub-sector is projected to increase earnings by 72.75% in 2024. This number is higher than the previous year 2023's EPS growth of 33.02%. This bodes well for BJTM's earnings growth prospects in the next 2 years.

Medium
BJTM 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 2024. Specifically, earnings are projected to increase by 72.75% in 2024 while revenue growth is projected to increase by 34.06%. These macroeconomic trends will likely be a tailwind for BJTM's earnings growth prospects in the next 2 years.

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Management

Executive Management

President Director

Busrul Iman15.2 years
Tonny Prasetyo
Director
Edi Masrianto
Director
R. Arief Wicaksono
Director
Zulhelfi Abidin
Director
Eko Susetyono
Director
Arif Suhirman
Director
NamePositionShares%
Busrul ImanPresident Director2,958,9000.02
Edi MasriantoDirector327,600< 0.01
Eko SusetyonoDirector124,100< 0.01
R. Arief WicaksonoDirector728,200< 0.01
SuprajartoPresident Commissioner191,000< 0.01
Tonny PrasetyoDirector1,067,400< 0.01
Zulhelfi AbidinDirector24,200< 0.01
Expressed in millions IDR, unless otherwise stated

Ownership

BJTM Ownership

Others
12.49%
Insiders
80.67%
Institutions
6.84%
NameNumber of SharesOwnership (%)Value
Pemda Tingkat I Provinsi Jawa Timur7,676,913,64851.134,567.76B
38 Pemda Kabupaten/Kota4,257,234,33428.352,533.05B
Public3,075,928,70020.491,830.18B
Busrul Iman2,958,9000.021.76B
Tonny Prasetyo1,067,4000.010.64B

Largest Institutional Buy

PGIM Quantitative Solutions LLC
Bought 31-01-2024
+9,446,700 shares
Grantham, Mayo, Van Otterloo & Co., LLC
Bought 31-01-2024
+3,806,968 shares
Northern Trust Investments Inc
Bought 31-01-2024
+1,463,437 shares

Largest Institutional Sell

FIL Fund Management Limited
Sold 31-01-2024
-7,251,262 shares
Morningstar
Sold 31-01-2024
-2,046,700 shares
Mercer Global Investments Europe Limited
Sold 31-01-2024
-2,046,700 shares

Institutional Transactions

Tracking institutional transactions buying / selling of BJTM stock