PT Bank Negara Indonesia (Persero) Tbk

IDX:BBNI Stock Report

Market Cap: Rp136.7t

Bank Negara Indonesia (Persero) Valuation

Is BBNI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of BBNI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: BBNI (IDR3670) is trading below our estimate of future cash flow value (IDR4560.57)

Significantly Below Future Cash Flow Value: BBNI is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BBNI?

Key metric: As BBNI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BBNI. This is calculated by dividing BBNI's market cap by their current earnings.
What is BBNI's PE Ratio?
PE Ratio6.8x
EarningsRp20.04t
Market CapRp136.73t

Price to Earnings Ratio vs Peers

How does BBNI's PE Ratio compare to its peers?

The above table shows the PE ratio for BBNI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.3x
BNLI Bank Permata
34.2xn/aRp122.7t
BRIS Bank Syariah Indonesia
12.7x13.42%Rp96.4t
MEGA Bank Mega
19.4xn/aRp65.3t
BNGA Bank CIMB Niaga
6.7x5.71%Rp45.9t
BBNI Bank Negara Indonesia (Persero)
6.8x8.67%Rp136.7t

Price-To-Earnings vs Peers: BBNI is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (18.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does BBNI's PE Ratio compare vs other companies in the ID Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
BBNI 6.8xIndustry Avg. 16.2xNo. of Companies16PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BBNI is good value based on its Price-To-Earnings Ratio (6.8x) compared to the ID Banks industry average (16.2x).

Price to Earnings Ratio vs Fair Ratio

What is BBNI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BBNI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ratio10.5x

Price-To-Earnings vs Fair Ratio: BBNI is good value based on its Price-To-Earnings Ratio (6.8x) compared to the estimated Fair Price-To-Earnings Ratio (10.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BBNI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp3,670.00
Rp4,993.43
+36.06%
9.58%Rp5,700.00Rp3,800.00n/a21
Apr ’27Rp3,720.00
Rp5,007.71
+34.62%
9.56%Rp5,700.00Rp3,800.00n/a21
Mar ’27Rp4,400.00
Rp4,988.10
+13.37%
9.79%Rp5,700.00Rp3,800.00n/a20
Feb ’27Rp4,490.00
Rp4,979.85
+10.91%
9.74%Rp5,700.00Rp3,800.00n/a20
Jan ’27Rp4,370.00
Rp4,929.60
+12.81%
10.71%Rp5,700.00Rp3,500.00n/a20
Dec ’26Rp4,310.00
Rp5,006.85
+16.17%
10.90%Rp5,700.00Rp3,500.00n/a20
Nov ’26Rp4,380.00
Rp5,010.10
+14.39%
11.51%Rp5,825.00Rp3,500.00n/a21
Oct ’26Rp4,050.00
Rp5,099.30
+25.91%
12.40%Rp6,000.00Rp3,500.00n/a20
Sep ’26Rp4,320.00
Rp5,118.86
+18.49%
12.85%Rp6,100.00Rp3,500.00n/a21
Aug ’26Rp4,010.00
Rp5,173.95
+29.03%
12.89%Rp6,100.00Rp3,500.00n/a22
Jul ’26Rp4,010.00
Rp5,401.45
+34.70%
13.27%Rp6,400.00Rp3,500.00n/a22
Jun ’26Rp4,490.00
Rp5,431.00
+20.96%
12.51%Rp6,400.00Rp3,500.00n/a22
May ’26Rp4,180.00
Rp5,434.18
+30.00%
13.06%Rp6,400.00Rp3,500.00n/a22
Apr ’26Rp4,240.00
Rp5,582.82
+31.67%
11.90%Rp6,400.00Rp3,900.00Rp3,720.0022
Mar ’26Rp4,030.00
Rp5,805.14
+44.05%
10.18%Rp7,018.00Rp4,300.00Rp4,400.0022
Feb ’26Rp4,770.00
Rp5,880.59
+23.28%
9.78%Rp7,018.00Rp4,300.00Rp4,490.0022
Jan ’26Rp4,350.00
Rp6,369.81
+46.43%
8.44%Rp7,600.00Rp5,100.00Rp4,370.0021
Dec ’25Rp4,980.00
Rp6,473.14
+29.98%
7.00%Rp7,600.00Rp5,400.00Rp4,310.0021
Nov ’25Rp5,200.00
Rp6,473.14
+24.48%
7.00%Rp7,600.00Rp5,400.00Rp4,380.0021
Oct ’25Rp5,375.00
Rp6,360.05
+18.33%
5.40%Rp6,900.00Rp5,400.00Rp4,050.0021
Sep ’25Rp5,350.00
Rp6,230.50
+16.46%
5.43%Rp6,900.00Rp5,400.00Rp4,320.0022
Aug ’25Rp5,075.00
Rp6,058.91
+19.39%
5.66%Rp6,800.00Rp5,400.00Rp4,010.0022
Jul ’25Rp4,710.00
Rp6,111.57
+29.76%
5.09%Rp6,800.00Rp5,500.00Rp4,010.0023
Jun ’25Rp4,400.00
Rp6,156.57
+39.92%
5.50%Rp6,800.00Rp5,500.00Rp4,490.0023
May ’25Rp5,250.00
Rp6,253.96
+19.12%
7.02%Rp6,800.00Rp5,100.00Rp4,180.0023
Apr ’25Rp5,650.00
Rp6,369.86
+12.74%
7.04%Rp7,200.00Rp5,100.00Rp4,240.0022
Rp4.99k
Fair Value
26.5% undervalued intrinsic discount
21
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/15 01:07
End of Day Share Price 2026/04/15 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PT Bank Negara Indonesia (Persero) Tbk is covered by 32 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Angus MackintoshAletheia Analyst Network Limited
Anish TawakleyBarclays
Sukriti BansalBofA Global Research