PT Bank BTPN Syariah Tbk.

btps

Overview

BTPS Overview

PT Bank BTPN Syariah Tbk is an Indonesia-based company that is engaged in the sharia banking. The Company operates their business in one segment, which is financing using murabahah contract. The Company is focused on serving underprivileged families. Its products include funding and financing. Its funding products include Right Savings, Exact Deposit, Right Platinum Savings, Proper Savings Plan, Hajj Savings Account, Right Giro, Right Sharia Savings, Right Sharia Savings Agent and Proper Platinum Business Savings. The Company's financing products include Right Sharia Financing - Group, Right Sharia Working Capital Financing and The Right Partner. Its Right Savings account can be opened without minimum initial deposit. Its Proper Platinum Business Savings account is for corporate financial transactions. The Company's Right Sharia Working Capital Financing product provides working capital financing addressed to sharia finance companies. Its subsidiary is PT BTPN Syariah Ventura.

51015ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: BTPS

Main
Market Cap.
IDR 9.51Trillion

~$599.88M USD

Industry
Banks
Sub-Industry
Banks
Sector
Financials
Sub-Sector

Valuation

BTPS Valuation Metrics

1,235

IDR

Closing Price on 2024-04-05

Price to Equity

6.54

P/E

At 6.54x P/E TTM, BTPS.JK is trading at a discount to its peers in the Banks sector.

Price to Book

1.10

P/B

At 1.10x P/B TTM, BTPS.JK is trading at a premium to its peers in the Banks sector (avg 0.9x).

Price to Sales

1.80

P/S

At 1.80x P/S TTM, BTPS.JK is trading at a discount to its peers in the Banks sector.

Valuing PT Bank BTPN Syariah 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 BTPN Syariah Tbk. relative to other stocks in the Banks sector

Price/Cash Flow
3.85x
Price/Forward Earnings
5.57x
PEG Ratio
-0.14x

Analyst Ratings

40
60
80
0
100

50.0

Undervalued

Fairly Valued

Overvalued

Last closing: IDR1,2352024-04-05
IDR 2,407.40

Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BTPS is IDR2,407, which is 96% higher than BTPS's last closing price of IDR1,235 (as of 2024-04-05).

Valuation Recap of BTPS 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 6.54x is below the ID market average of 8.22x and is trading at a discount to peers in the Banks sector (13.79x). In fact, less than 25% of its peers trade at a lower P/E ratio than BTPS.●●
Max 3
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 1.10x is similar to the peers average of 0.88x in the Banks sector.
Max 3
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 1.80x is below the peers average of 3.61x in the Banks sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of BTPS's valuation relative to its current sales and future earnings growth. BTPS trades at a Forward P/E ratio of 5.57x, which is considered fairly undervalued by analysts. ●●
Max 2
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. BTPS's P/CF ratio of 3.85x is considered healthy by analysts.●●
Max 2
Medium
Considerably Higher Intrinsic Value: Analyst's intrinsic value is of BTPS is IDR 2,407.40, which is 96% higher than BTPS's last closing price of IDR 1,235.00.●●●
Max 3

Peers

BTPS 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.1,211.18T1,381.45T 98.47T 48.20T 25.135.14
BBRIPT Bank Rakyat Indonesia (Persero) Tbk851.97T1,851.96T 175.51T 56.01T 15.212.78
BMRIPT Bank Mandiri (Persero) Tbk637.00T2,007.16T 135.73T 49.58T 12.852.62
BBNIPT Bank Negara Indonesia (Persero) Tbk197.25T1,086.66T 61.51T 20.91T 9.431.31
BRISPT Bank Syariah Indonesia Tbk124.55T319.85T 19.34T 5.26T 23.703.35
SMMAPT Sinar Mas Multiartha Tbk92.97T106.59T 28.35T 1.10T 84.384.30
DNETPT Indoritel Makmur Internasional Tbk.64.54T20.17T 1.41T 0.95T 68.095.07
MEGABank Mega Tbk60.47T132.12T 7.81T 3.51T 17.222.78
BNGAPT Bank CIMB Niaga Tbk52.37T329.13T 18.53T 6.10T 8.581.11
ARTOPT Bank Jago Tbk.35.84T19.13T 1.74T 0.03T 1398.304.30
Competitiveness Recap of BTPS stock
WeightNotesScore
High
At a market cap of IDR 9,513.30 billion, BTPS.JK ranks 10 in Market Cap out of 10 companies in the Financials sector.
Max 2
High
At a PE of 6.54, BTPS.JK ranks 10 out of 10 companies in the Financials sector for P/E value. The average PE is 27.11 (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 (84.38) in the Financials sector.
Max 2
Medium
At a PE of 6.54, BTPS.JK is trading at a lower PE than that of its subsector peers in Banks (median of 13.79). A lower P/E value presents a potential value opportunity, but it might also indicate that the company is facing headwinds in its business.
Max 2
Medium
At a revenue of IDR 5.28 trillion, BTPS.JK ranks 9 in Revenue out of 10 companies in the Financials sector.
Max 2
Medium
At a profit of IDR 1.46 trillion, BTPS.JK ranks 8 in Profit out of 10 companies in the Financials sector.
Max 2

Future

Future Growth of BTPS

Growth Forecasts

BTPS 2024 Revenue Growth
+13.4%
BTPS 2024 EPS Growth
+7.1%
Sector Revenue Growth
+14.6%
Banks
Indonesia Market Growth
+12.0%
IDX overall growth
Banks Sector Revenue Growth '24
+33.8%
Financials Sector Revenue Growth '24
+32.2%

Sector Benchmark

Banks companies in Indonesia are growing at a projected rate of 14.60% against the IDX average of +12.0%.

Banks sector overview

BTPS Earnings & Revenue Forecast

All values in IDR billion

Future growth prospect of BTPS
WeightNotesScore
High
BTPS's projected growth rate of 14.60% is above the ID market average of 11.98%.●●●
Max 3
High
The Banks sub-sector is projected to grow revenue by 33.80% in 2024. This number is higher than the previous year 2023's growth rate of 13.91%. This bodes well for BTPS's revenue growth prospects in the next 2 years. ●●●
Max 3
Medium
The Banks sub-sector is projected to increase earnings by 80.01% in 2024. This number is higher than the previous year 2023's EPS growth of 35.28%. This bodes well for BTPS's earnings growth prospects in the next 2 years. ●●●
Max 3
Medium
BTPS 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 75.53% in 2024 while revenue growth is projected to increase by 32.25%. These macroeconomic trends will likely be a tailwind for BTPS's earnings growth prospects in the next 2 years. ●●●
Max 3
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Management

Executive Management

President Director

Hadi Wibowo15.2 years
Arief Ismail
Director
Fachmy Achmad
Director
Dwiyono Bayu Winantio
Director
Dewi Nuzulianti
Director
NamePositionShares%
Arief IsmailDirector195,900< 0.01
Dwiyono Bayu WinantioDirector34,600< 0.01
Fachmy AchmadDirector34,500< 0.01
Hadi WibowoPresident Director64,800< 0.01
Expressed in millions IDR, unless otherwise stated

Ownership

BTPS Ownership

Others
8.08%
Insiders
75.63%
Institutions
16.29%
NameNumber of SharesOwnership (%)Value
Pt Bank Btpn Tbk5,392,590,000706,659.85B
Public (Scripless)2,310,164,10029.992,853.05B
Treasury Stock616,1000.010.76B

Largest Institutional Buy

Santa Lucia Asset Management Pte. Ltd
Bought 31-01-2024
+34,477,800 shares
State Street Global Advisors
Bought 31-01-2024
+2,884,349 shares
STANLIB Asset Management Limited
Bought 31-01-2024
+2,002,600 shares

Largest Institutional Sell

Columbia Mgmt Investment Advisers, LLC
Sold 31-01-2024
-66,790,100 shares
Aberdeen Standard Investments
Sold 31-01-2024
-31,477,000 shares
Goldman Sachs Asset Management, L.P.
Sold 31-01-2024
-29,552,100 shares

Institutional Transactions

Tracking institutional transactions buying / selling of BTPS stock