Reliance Sekuritas Indonesia Tbk

Overview

RELI Overview

PT Reliance Sekuritas Indonesia, Tbk is an Indonesia-based security company. The Company provides fixed income services to corporate customers, such as banks, pension funds, insurance companies, investment managers, securities companies, employee cooperatives and other financial institutions that trade debt securities, such as government bonds, corporate bonds, sukuk and repos. The Research Division produces research products published before trading hours and distributed to customers through the Company's websites (www.reliancesekuritas.com and www.relitrade.com/research). These products include Daily Insight, Daily Stock Recommendation, Online Trading Portal, Morning Coffee, Conference Call, and Foreign Movers. In addition to daily research products, the research division also has two types of research report products, namely fundamental research products and technical research products. It provides financial advisory and securities underwriting services to various issuers.

24681012ValueCompetitiveFutureFinancialsDividend
Exchange
Indonesia Stock Exchange

Symbol: RELI

Development
Market Cap.
IDR 820.80Billion

~$50.40M USD

Industry
Investment Services
Sub-Industry
Investment Banking & Brokerage Services
Sector
Financials

Valuation

RELI Valuation Metrics

456

IDR
+1.3%

Closing Price on 2024-07-19

Price to Equity

20.10

P/E

At 20.10x P/E TTM, RELI.JK is trading at a premium to its peers in the Investment Service sector (avg 12.9x).

Price to Book

1.35

P/B

At 1.35x P/B TTM, RELI.JK is trading in line with its peers in the Investment Service sector.

Price to Sales

11.03

P/S

At 11.03x P/S TTM, RELI.JK is trading at a premium to its peers in the Investment Service sector (avg 8.1x).

Valuing Reliance Sekuritas Indonesia Tbk based on its trailing twelve months (TTM) valuation metrics against its peers in the Investment Service sector

Historical Price to Earnings

Other Valuation Metrics

Valuing Reliance Sekuritas Indonesia Tbk relative to other stocks in the Investment Service sector

Price/Cash Flow-58.18x
Price/Forward Earnings-
Enterprise Value/Revenue5.82x
Enterprise Value/EBITDA-
PEG Ratio-3.82x

Intrinsic Value

Last closing: IDR4562024-07-19
IDR 187.15

Considerably Lower Intrinsic Value: Analyst's intrinsic value is of RELI is IDR187, which is 58% lower than RELI's last closing price of IDR456 (as of 2024-07-19).

Valuation Recap of RELI 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 20.10x is above the ID market average of 8.44x and is trading at a premium to peers in the Investment Service sector (12.85x). In fact, less than 25% of its peers trade at a higher P/E ratio than RELI.

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 1.35x is similar to the peers average of 1.36x in the Investment Service 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 11.03x is above the peers average of 8.12x in the Investment Service sector. When considered alongside the Forward Price/Earnings ratio, they serve to illustrate investors' expectations of RELI's valuation relative to its current sales and future earnings growth.

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. RELI's P/CF ratio of -58.18x is considered healthy 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. RELI's EV/R ratio of 5.82x is considered a relatively high ratio. The average EV/R ratio for the Investment Service sector is 4.42x.

Medium
Considerably Lower Intrinsic Value: Analyst's intrinsic value is of RELI is IDR 187.15, which is 58% lower than RELI's last closing price of IDR 456.00.

Peers

RELI 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.1,245.08T1,408.11T 101.91T 48.64T 25.605.14
BBRIPT Bank Rakyat Indonesia (Persero) Tbk738.88T1,989.07T 178.91T 59.88T 12.342.52
BMRIPT Bank Mandiri (Persero) Tbk611.33T2,174.22T 123.24T 55.06T 11.102.34
BBNIPT Bank Negara Indonesia (Persero) Tbk189.03T1,066.72T 60.27T 21.08T 8.971.30
BRISPT Bank Syariah Indonesia Tbk113.02T357.90T 19.39T 5.91T 19.132.79
SMMAPT Sinar Mas Multiartha Tbk92.97T116.18T 25.19T 0.45T 207.773.97
DNETPT Indoritel Makmur Internasional Tbk.70.21T20.44T 1.40T 0.58T 120.885.44
MEGABank Mega Tbk58.70T126.53T 7.85T 3.60T 16.322.94
BNGAPT Bank CIMB Niaga Tbk44.76T332.99T 19.03T 6.58T 6.800.87
YULEYulie Sekuritas Indonesia Tbk4.04T0.66T 0.04T 0.02T 190.708.06
Competitiveness Recap of RELI stock
WeightNotesScore
High
At a market cap of IDR 820.80 billion, RELI.JK ranks 10 in Market Cap out of 10 companies in the Financials sector.

High
At a PE of 20.10, RELI.JK ranks 4 out of 10 companies in the Financials sector for P/E value. The average PE is 44.90 (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 (207.77) in the Financials sector.

Medium
At a PE of 20.10, RELI.JK is trading at a higher PE than that of its subsector peers in Investment Service (median of 12.85). false

Medium
At a revenue of IDR 0.07 trillion, RELI.JK ranks 10 in Revenue out of 10 companies in the Financials sector.

Medium
At a profit of IDR 0.04 trillion, RELI.JK ranks 10 in Profit out of 10 companies in the Financials sector.

Future

Future Growth of RELI

Growth Forecasts

Analyst Ratings

Based on ratings from 18 analysts for RELI over the past 3 months.

Hold

Strong Buy

11.1%

Buy

0.0%

Hold

55.6%

Sell

11.1%

Strong Sell

22.2%

Last Update: 2024-06-28

Sector Benchmark

Investment Service companies in Indonesia are shrinking at a projected rate of 0.00% against the IDX average of +13.8%.

Investment Service sector overview
No data is available for RELI at the moment.
Future growth prospect of RELI
WeightNotesScore
Medium
RELI and its peers in the Investment Service 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 15.70% in 2025 while revenue growth is projected to increase by 24.44%. These macroeconomic trends will likely be a tailwind for RELI's earnings growth prospects in the next 2 years.

Technical

Daily Technical Ratings of RELI

Oscillators

Neutral

Sell

1

Neutral

9

Buy

1

Summary

Sell

Sell

14

Neutral

10

Buy

2

Moving Averages

Strong Sell

Sell

13

Neutral

1

Buy

1

Summary

Technical Ratings of RELI
IndicatorSummarySellNeutralBuy
SummarySell14102
OscillatorsNeutral191
Moving AveragesStrong Sell1311

Last Update: 2024-07-19

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Management

Executive Management

President Director

Bagus Abimanyu Lulu15.2 years
Reza Priyambada.Director
Andrew Novi GunawanDirector
NamePositionShares%Stock Value
(in Billion IDR)
No data is available for RELI at the moment.

Ownership

RELI Ownership

NameNumber of SharesOwnership (%)Value
Pt Reliance Capital Management1,556,887,13586.49709.94B
Public (Scripless)243,112,86513.51110.86B

RELI Filings

No noteworthy filings to report on

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