View Past PerformanceBank Pembangunan Daerah Jawa Barat dan Banten バランスシートの健全性財務の健全性 基準チェック /46Bank Pembangunan Daerah Jawa Barat dan Bantenの総資産はIDR221,811.2B 、総資本はIDR20,661.9Bです。総預金はIDR161,166.8B 、総融資はIDR137,452.0Bです。主要情報10.7x自己資本比率n/a純金利マージン預金総額Rp161.17t預貸率適切不良債権3.0%貸倒引当金低い流動比率低い現金および同等物Rp12.40t財務の健全性に関する最新情報更新なしすべての更新を表示Recent updatesDeclared Dividend • May 02Dividend increased to Rp85.54Dividend of Rp85.54 is 0.3% higher than last year. Ex-date: 8th May 2026 Payment date: 26th May 2026 Dividend yield will be 9.8%, which is higher than the industry average of 3.6%. Sustainability & Growth The dividend has decreased over the past 6 years, but has still been somewhat stable with no excessively large reductions to payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 9.1% over the last 5 years so the company would need to reverse this trend.お知らせ • May 02PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announces Annual dividend, payable on May 26, 2026PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announced Annual dividend of IDR 85.5400 per share payable on May 26, 2026, ex-date on May 08, 2026 and record date on May 11, 2026.Reported Earnings • May 01First quarter 2026 earnings released: EPS: Rp38.98 (vs Rp37.87 in 1Q 2025)First quarter 2026 results: EPS: Rp38.98 (up from Rp37.87 in 1Q 2025). Revenue: Rp2.27t (flat on 1Q 2025). Net income: Rp410.1b (up 2.9% from 1Q 2025). Profit margin: 18% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 17Full year 2025 earnings released: EPS: Rp110 (vs Rp130 in FY 2024)Full year 2025 results: EPS: Rp110 (down from Rp130 in FY 2024). Revenue: Rp9.07t (up 13% from FY 2024). Net income: Rp1.15t (down 16% from FY 2024). Profit margin: 13% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.お知らせ • Mar 14PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 28, 2026PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 28, 2026.Reported Earnings • Oct 31Third quarter 2025 earnings released: EPS: Rp28.30 (vs Rp41.55 in 3Q 2024)Third quarter 2025 results: EPS: Rp28.30 (down from Rp41.55 in 3Q 2024). Revenue: Rp2.11t (up 4.1% from 3Q 2024). Net income: Rp297.7b (down 32% from 3Q 2024). Profit margin: 14% (down from 22% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Board Change • Oct 24No independent directorsThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Director of IT, Treasury & International Banking and Director Rio Lanasier is the most experienced director on the board, commencing their role in 2019. Independent President Commissioner Taswin Zakaria was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.お知らせ • Apr 19PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announces Annual dividend, payable on May 16, 2025PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announced Annual dividend of IDR 85.2500 per share payable on May 16, 2025, ex-date on April 28, 2025 and record date on April 29, 2025.お知らせ • Mar 04PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 16, 2025PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 16, 2025. Location: jakarta IndonesiaReported Earnings • Nov 02Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: Rp2.03t (down 4.4% from 3Q 2023). Net income: Rp437.1b (down 15% from 3Q 2023). Profit margin: 22% (down from 24% in 3Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 12% per year.Reported Earnings • Aug 01Second quarter 2024 earnings released: EPS: Rp34.37 (vs Rp52.13 in 2Q 2023)Second quarter 2024 results: EPS: Rp34.37 (down from Rp52.13 in 2Q 2023). Revenue: Rp1.65t (down 21% from 2Q 2023). Net income: Rp361.6b (down 34% from 2Q 2023). Profit margin: 22% (down from 26% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year.Reported Earnings • May 05First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: Rp1.99t (down 2.6% from 1Q 2023). Net income: Rp364.3b (down 2.0% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings.Valuation Update With 7 Day Price Move • Apr 25Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to Rp1,010, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Banks industry in Indonesia. Total loss to shareholders of 10.0% over the past three years.Upcoming Dividend • Apr 12Upcoming dividend of Rp95.05 per shareEligible shareholders must have bought the stock before 19 April 2024. Payment date: 02 May 2024. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 7.8%. Within top quartile of Indonesian dividend payers (6.1%). Higher than average of industry peers (4.1%).Price Target Changed • Mar 24Price target decreased by 8.3% to Rp1,645Down from Rp1,793, the current price target is an average from 3 analysts. New target price is 37% above last closing price of Rp1,205. Stock is down 9.7% over the past year. The company is forecast to post earnings per share of Rp205 for next year compared to Rp169 last year.Reported Earnings • Mar 06Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: Rp8.22t (down 16% from FY 2022). Net income: Rp1.78t (down 23% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.7%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Buying Opportunity • Nov 30Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 5.9%. The fair value is estimated to be Rp1,408, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 5.3%. Revenue is forecast to grow by 26% in 2 years. Earnings is forecast to grow by 28% in the next 2 years.Buying Opportunity • Oct 05Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 2.1%. The fair value is estimated to be Rp1,454, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 9.3%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 19% in the next 2 years.Major Estimate Revision • Aug 03Consensus revenue estimates fall by 13%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from Rp11.1b to Rp9.67b. EPS estimate fell from Rp227 to Rp198 per share. Net income forecast to grow 5.7% next year vs 14% growth forecast for Banks industry in Indonesia. Consensus price target down from Rp1,793 to Rp1,520. Share price fell 2.1% to Rp1,185 over the past week.Price Target Changed • Aug 01Price target decreased by 15% to Rp1,520Down from Rp1,793, the current price target is an average from 3 analysts. New target price is 28% above last closing price of Rp1,185. Stock is down 12% over the past year. The company is forecast to post earnings per share of Rp198 for next year compared to Rp219 last year.Reported Earnings • Jul 30Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp2.09t (down 13% from 2Q 2022). Net income: Rp548.5b (down 14% from 2Q 2022). Profit margin: 26% (in line with 2Q 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year.Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Independent President Commissioner Farid Rahman was the last independent director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 04Third quarter 2022 earnings releasedThird quarter 2022 results: Net loss: Rp1.18t (down 337% from profit in 3Q 2021). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Reported Earnings • Jul 30Second quarter 2022 earnings released: EPS: Rp60.31 (vs Rp44.97 in 2Q 2021)Second quarter 2022 results: EPS: Rp60.31 (up from Rp44.97 in 2Q 2021). Revenue: Rp2.41t (up 11% from 2Q 2021). Net income: Rp634.5b (up 43% from 2Q 2021). Profit margin: 26% (up from 20% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 45% growth forecast for the industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Board Change • Apr 27No independent directorsThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 2 experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Commissioner H. Muhadi is the most experienced director on the board, commencing their role in 2008. Independent President Commissioner Farid Rahman was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.Major Estimate Revision • Mar 23Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from Rp9.55b to Rp10.6b. EPS estimate unchanged from Rp232 at last update. Banks industry in Indonesia expected to see average net income growth of 17% next year. Consensus price target up from Rp1,750 to Rp1,799. Share price was steady at Rp1,435 over the past week.Reported Earnings • Mar 13Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: Rp207 (up from Rp171 in FY 2020). Revenue: Rp8.93t (up 14% from FY 2020). Net income: Rp2.03t (up 20% from FY 2020). Profit margin: 23% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Non-performing loans: 1.45% (down from 1.66% in FY 2020). Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 6.8%, compared to a 61% growth forecast for the banks industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Reported Earnings • Oct 31Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Rp2.26t (up 18% from 3Q 2020). Net income: Rp497.1b (up 27% from 3Q 2020). Profit margin: 22% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Reported Earnings • Jul 29Second quarter 2021 earnings releasedThe company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: Rp2.17t (up 16% from 2Q 2020). Net income: Rp442.5b (up 13% from 2Q 2020). Profit margin: 20% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Price Target Changed • Mar 18Price target increased to Rp1,825Up from Rp1,688, the current price target is an average from 3 analysts. New target price is 16% above last closing price of Rp1,580. Stock is up 138% over the past year.Reported Earnings • Mar 18Full year 2020 earnings released: EPS Rp171 (vs Rp158 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: Rp7.81t (up 15% from FY 2019). Net income: Rp1.69t (up 8.2% from FY 2019). Profit margin: 22% (down from 23% in FY 2019). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 5.39% (down from 5.75% in FY 2019). Cost-to-income ratio: 84.0% (down from 84.2% in FY 2019). Non-performing loans: 1.66% (down from 1.73% in FY 2019). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Jan 14New 90-day high: Rp1,755The company is up 70% from its price of Rp1,035 on 16 October 2020. The Indonesian market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp1,049 per share.Is New 90 Day High Low • Dec 18New 90-day high: Rp1,655The company is up 76% from its price of Rp940 on 18 September 2020. The Indonesian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp910 per share.Price Target Changed • Dec 16Price target raised to Rp1,411Up from Rp1,282, the current price target is an average from 7 analysts. The new target price is 11% below the current share price of Rp1,590. As of last close, the stock is up 17% over the past year.Is New 90 Day High Low • Dec 04New 90-day high: Rp1,450The company is up 39% from its price of Rp1,040 on 04 September 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp696 per share.Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 21% share price gain to Rp1,320, the stock is trading at a trailing P/E ratio of 8x, up from the previous P/E ratio of 6.6x. This compares to an average P/E of 21x in the Banks industry in Indonesia. Total return to shareholders over the past three years is a loss of 32%.Is New 90 Day High Low • Nov 09New 90-day high: Rp1,170The company is up 26% from its price of Rp930 on 11 August 2020. The Indonesian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp684 per share.Reported Earnings • Oct 28Third quarter earnings releasedOver the last 12 months the company has reported total profits of Rp1.63t, up 21% from the prior year. Total revenue was Rp7.35t over the last 12 months, up 12% from the prior year.財務状況分析デット・ツー・エクイティの歴史と分析貸借対照表金融機関分析資産レベル: BJBRの 資産対自己資本比率 ( 10.7 x) は 中程度 です。不良債権引当金: BJBRは low 不良債権引当金 を持っています ( 90 %)。低リスク負債: BJBRの負債の80%は主に 低リスク の資金源で構成されています。ローンレベル: BJBRは 適切な レベルの ローン対資産比率 ( 62% ) を持っています。低リスク預金: BJBRの 預金に対する貸出金の比率 ( 85% ) は 適切 です。不良債権レベル: BJBRは 不良債権 のレベルが 高い です ( 3 %)。健全な企業の発掘7D1Y7D1Y7D1YBanks 業界の健全な企業。View Dividend企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/07 03:00終値2026/06/05 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。12 アナリスト機関Mulya ChandraCGS InternationalRaymond KosasihDeutsche BankNathania NurhalimMacquarie Research9 その他のアナリストを表示
Declared Dividend • May 02Dividend increased to Rp85.54Dividend of Rp85.54 is 0.3% higher than last year. Ex-date: 8th May 2026 Payment date: 26th May 2026 Dividend yield will be 9.8%, which is higher than the industry average of 3.6%. Sustainability & Growth The dividend has decreased over the past 6 years, but has still been somewhat stable with no excessively large reductions to payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 9.1% over the last 5 years so the company would need to reverse this trend.
お知らせ • May 02PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announces Annual dividend, payable on May 26, 2026PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announced Annual dividend of IDR 85.5400 per share payable on May 26, 2026, ex-date on May 08, 2026 and record date on May 11, 2026.
Reported Earnings • May 01First quarter 2026 earnings released: EPS: Rp38.98 (vs Rp37.87 in 1Q 2025)First quarter 2026 results: EPS: Rp38.98 (up from Rp37.87 in 1Q 2025). Revenue: Rp2.27t (flat on 1Q 2025). Net income: Rp410.1b (up 2.9% from 1Q 2025). Profit margin: 18% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 17Full year 2025 earnings released: EPS: Rp110 (vs Rp130 in FY 2024)Full year 2025 results: EPS: Rp110 (down from Rp130 in FY 2024). Revenue: Rp9.07t (up 13% from FY 2024). Net income: Rp1.15t (down 16% from FY 2024). Profit margin: 13% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 14PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 28, 2026PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 28, 2026.
Reported Earnings • Oct 31Third quarter 2025 earnings released: EPS: Rp28.30 (vs Rp41.55 in 3Q 2024)Third quarter 2025 results: EPS: Rp28.30 (down from Rp41.55 in 3Q 2024). Revenue: Rp2.11t (up 4.1% from 3Q 2024). Net income: Rp297.7b (down 32% from 3Q 2024). Profit margin: 14% (down from 22% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Board Change • Oct 24No independent directorsThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Director of IT, Treasury & International Banking and Director Rio Lanasier is the most experienced director on the board, commencing their role in 2019. Independent President Commissioner Taswin Zakaria was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
お知らせ • Apr 19PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announces Annual dividend, payable on May 16, 2025PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk announced Annual dividend of IDR 85.2500 per share payable on May 16, 2025, ex-date on April 28, 2025 and record date on April 29, 2025.
お知らせ • Mar 04PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 16, 2025PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Annual General Meeting, Apr 16, 2025. Location: jakarta Indonesia
Reported Earnings • Nov 02Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: Rp2.03t (down 4.4% from 3Q 2023). Net income: Rp437.1b (down 15% from 3Q 2023). Profit margin: 22% (down from 24% in 3Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 12% per year.
Reported Earnings • Aug 01Second quarter 2024 earnings released: EPS: Rp34.37 (vs Rp52.13 in 2Q 2023)Second quarter 2024 results: EPS: Rp34.37 (down from Rp52.13 in 2Q 2023). Revenue: Rp1.65t (down 21% from 2Q 2023). Net income: Rp361.6b (down 34% from 2Q 2023). Profit margin: 22% (down from 26% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year.
Reported Earnings • May 05First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: Rp1.99t (down 2.6% from 1Q 2023). Net income: Rp364.3b (down 2.0% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings.
Valuation Update With 7 Day Price Move • Apr 25Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to Rp1,010, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Banks industry in Indonesia. Total loss to shareholders of 10.0% over the past three years.
Upcoming Dividend • Apr 12Upcoming dividend of Rp95.05 per shareEligible shareholders must have bought the stock before 19 April 2024. Payment date: 02 May 2024. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 7.8%. Within top quartile of Indonesian dividend payers (6.1%). Higher than average of industry peers (4.1%).
Price Target Changed • Mar 24Price target decreased by 8.3% to Rp1,645Down from Rp1,793, the current price target is an average from 3 analysts. New target price is 37% above last closing price of Rp1,205. Stock is down 9.7% over the past year. The company is forecast to post earnings per share of Rp205 for next year compared to Rp169 last year.
Reported Earnings • Mar 06Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: Rp8.22t (down 16% from FY 2022). Net income: Rp1.78t (down 23% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.7%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Buying Opportunity • Nov 30Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 5.9%. The fair value is estimated to be Rp1,408, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 5.3%. Revenue is forecast to grow by 26% in 2 years. Earnings is forecast to grow by 28% in the next 2 years.
Buying Opportunity • Oct 05Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 2.1%. The fair value is estimated to be Rp1,454, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 9.3%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 19% in the next 2 years.
Major Estimate Revision • Aug 03Consensus revenue estimates fall by 13%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from Rp11.1b to Rp9.67b. EPS estimate fell from Rp227 to Rp198 per share. Net income forecast to grow 5.7% next year vs 14% growth forecast for Banks industry in Indonesia. Consensus price target down from Rp1,793 to Rp1,520. Share price fell 2.1% to Rp1,185 over the past week.
Price Target Changed • Aug 01Price target decreased by 15% to Rp1,520Down from Rp1,793, the current price target is an average from 3 analysts. New target price is 28% above last closing price of Rp1,185. Stock is down 12% over the past year. The company is forecast to post earnings per share of Rp198 for next year compared to Rp219 last year.
Reported Earnings • Jul 30Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: Rp2.09t (down 13% from 2Q 2022). Net income: Rp548.5b (down 14% from 2Q 2022). Profit margin: 26% (in line with 2Q 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year.
Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Independent President Commissioner Farid Rahman was the last independent director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 04Third quarter 2022 earnings releasedThird quarter 2022 results: Net loss: Rp1.18t (down 337% from profit in 3Q 2021). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Reported Earnings • Jul 30Second quarter 2022 earnings released: EPS: Rp60.31 (vs Rp44.97 in 2Q 2021)Second quarter 2022 results: EPS: Rp60.31 (up from Rp44.97 in 2Q 2021). Revenue: Rp2.41t (up 11% from 2Q 2021). Net income: Rp634.5b (up 43% from 2Q 2021). Profit margin: 26% (up from 20% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 45% growth forecast for the industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Board Change • Apr 27No independent directorsThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 2 experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Commissioner H. Muhadi is the most experienced director on the board, commencing their role in 2008. Independent President Commissioner Farid Rahman was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
Major Estimate Revision • Mar 23Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from Rp9.55b to Rp10.6b. EPS estimate unchanged from Rp232 at last update. Banks industry in Indonesia expected to see average net income growth of 17% next year. Consensus price target up from Rp1,750 to Rp1,799. Share price was steady at Rp1,435 over the past week.
Reported Earnings • Mar 13Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: Rp207 (up from Rp171 in FY 2020). Revenue: Rp8.93t (up 14% from FY 2020). Net income: Rp2.03t (up 20% from FY 2020). Profit margin: 23% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Non-performing loans: 1.45% (down from 1.66% in FY 2020). Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 6.8%, compared to a 61% growth forecast for the banks industry in Indonesia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Reported Earnings • Oct 31Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Rp2.26t (up 18% from 3Q 2020). Net income: Rp497.1b (up 27% from 3Q 2020). Profit margin: 22% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Reported Earnings • Jul 29Second quarter 2021 earnings releasedThe company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: Rp2.17t (up 16% from 2Q 2020). Net income: Rp442.5b (up 13% from 2Q 2020). Profit margin: 20% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Price Target Changed • Mar 18Price target increased to Rp1,825Up from Rp1,688, the current price target is an average from 3 analysts. New target price is 16% above last closing price of Rp1,580. Stock is up 138% over the past year.
Reported Earnings • Mar 18Full year 2020 earnings released: EPS Rp171 (vs Rp158 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: Rp7.81t (up 15% from FY 2019). Net income: Rp1.69t (up 8.2% from FY 2019). Profit margin: 22% (down from 23% in FY 2019). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 5.39% (down from 5.75% in FY 2019). Cost-to-income ratio: 84.0% (down from 84.2% in FY 2019). Non-performing loans: 1.66% (down from 1.73% in FY 2019). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Jan 14New 90-day high: Rp1,755The company is up 70% from its price of Rp1,035 on 16 October 2020. The Indonesian market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp1,049 per share.
Is New 90 Day High Low • Dec 18New 90-day high: Rp1,655The company is up 76% from its price of Rp940 on 18 September 2020. The Indonesian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp910 per share.
Price Target Changed • Dec 16Price target raised to Rp1,411Up from Rp1,282, the current price target is an average from 7 analysts. The new target price is 11% below the current share price of Rp1,590. As of last close, the stock is up 17% over the past year.
Is New 90 Day High Low • Dec 04New 90-day high: Rp1,450The company is up 39% from its price of Rp1,040 on 04 September 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp696 per share.
Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 21% share price gain to Rp1,320, the stock is trading at a trailing P/E ratio of 8x, up from the previous P/E ratio of 6.6x. This compares to an average P/E of 21x in the Banks industry in Indonesia. Total return to shareholders over the past three years is a loss of 32%.
Is New 90 Day High Low • Nov 09New 90-day high: Rp1,170The company is up 26% from its price of Rp930 on 11 August 2020. The Indonesian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Rp684 per share.
Reported Earnings • Oct 28Third quarter earnings releasedOver the last 12 months the company has reported total profits of Rp1.63t, up 21% from the prior year. Total revenue was Rp7.35t over the last 12 months, up 12% from the prior year.