PT Bank BTPN Syariah Tbk

IDX:BTPS Stock Report

Market Cap: Rp6.7t

Bank BTPN Syariah Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: BTPS (IDR875) is trading below our estimate of fair value (IDR1786.71)

Significantly Below Fair Value: BTPS is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BTPS. This is calculated by dividing BTPS's market cap by their current earnings.
What is BTPS's PE Ratio?
PE Ratio8x
EarningsRp847.40b
Market CapRp6.74t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BTPS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average94.7x
SDRA Bank Woori Saudara Indonesia 1906
10.3xn/aRp6.4t
BSIM Bank Sinarmas
169.3xn/aRp14.3t
VICO Victoria Investama
139.6xn/aRp3.0t
INPC Bank Artha Graha Internasional
59.6xn/aRp8.8t
BTPS Bank BTPN Syariah
8x27.8%Rp6.7t

Price-To-Earnings vs Peers: BTPS is good value based on its Price-To-Earnings Ratio (8x) compared to the peer average (94.7x).

Price to Earnings Ratio vs Industry

How does BTPS'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
BTPS 8.0xIndustry Avg. 19.8xNo. of Companies9PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BTPS is good value based on its Price-To-Earnings Ratio (8x) compared to the ID Banks industry average (19.8x).

Price to Earnings Ratio vs Fair Ratio

What is BTPS'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.

BTPS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8x
Fair PE Ratio10.7x

Price-To-Earnings vs Fair Ratio: BTPS is good value based on its Price-To-Earnings Ratio (8x) compared to the estimated Fair Price-To-Earnings Ratio (10.7x).

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 BTPS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp875.00
Rp1,414.44
+61.7%
18.2%Rp1,960.00Rp1,150.00n/a9
Nov ’25Rp1,050.00
Rp1,414.44
+34.7%
18.2%Rp1,960.00Rp1,150.00n/a9
Oct ’25Rp1,235.00
Rp1,512.50
+22.5%
14.5%Rp1,960.00Rp1,200.00n/a8
Sep ’25Rp1,265.00
Rp1,695.56
+34.0%
29.9%Rp3,000.00Rp1,200.00n/a9
Aug ’25Rp1,170.00
Rp1,722.22
+47.2%
29.5%Rp3,000.00Rp1,050.00n/a9
Jul ’25Rp1,155.00
Rp1,781.11
+54.2%
28.6%Rp3,000.00Rp1,050.00n/a9
Jun ’25Rp1,165.00
Rp1,828.50
+57.0%
23.4%Rp3,000.00Rp1,450.00n/a10
May ’25Rp1,215.00
Rp1,828.50
+50.5%
23.4%Rp3,000.00Rp1,450.00n/a10
Apr ’25Rp1,260.00
Rp1,838.50
+45.9%
22.9%Rp3,000.00Rp1,450.00n/a10
Mar ’25Rp1,420.00
Rp1,894.50
+33.4%
21.7%Rp3,000.00Rp1,535.00n/a10
Feb ’25Rp1,590.00
Rp1,982.00
+24.7%
19.8%Rp3,000.00Rp1,650.00n/a10
Jan ’25Rp1,690.00
Rp2,269.44
+34.3%
22.9%Rp3,085.00Rp1,650.00n/a9
Dec ’24Rp1,615.00
Rp2,297.22
+42.2%
22.7%Rp3,085.00Rp1,650.00Rp910.009
Nov ’24Rp1,580.00
Rp2,378.50
+50.5%
20.3%Rp3,085.00Rp1,770.00Rp1,050.0010
Oct ’24Rp1,905.00
Rp2,781.50
+46.0%
11.8%Rp3,375.00Rp2,200.00Rp1,235.0010
Sep ’24Rp2,180.00
Rp2,864.09
+31.4%
11.9%Rp3,400.00Rp2,200.00Rp1,265.0011
Aug ’24Rp2,130.00
Rp2,864.09
+34.5%
11.9%Rp3,400.00Rp2,200.00Rp1,170.0011
Jul ’24Rp2,070.00
Rp3,007.50
+45.3%
17.4%Rp4,000.00Rp2,200.00Rp1,155.0010
Jun ’24Rp1,900.00
Rp3,007.50
+58.3%
17.4%Rp4,000.00Rp2,200.00Rp1,165.0010
May ’24Rp2,140.00
Rp3,347.50
+56.4%
21.4%Rp4,600.00Rp2,200.00Rp1,215.0010
Apr ’24Rp2,190.00
Rp3,710.00
+69.4%
15.3%Rp4,600.00Rp2,600.00Rp1,260.0010
Mar ’24Rp2,310.00
Rp3,771.00
+63.2%
14.5%Rp4,600.00Rp2,600.00Rp1,420.0010
Feb ’24Rp2,640.00
Rp4,108.00
+55.6%
8.6%Rp4,600.00Rp3,600.00Rp1,590.0010
Jan ’24Rp2,790.00
Rp4,118.00
+47.6%
8.2%Rp4,600.00Rp3,700.00Rp1,690.0010
Dec ’23Rp3,100.00
Rp4,133.89
+33.4%
8.8%Rp4,600.00Rp3,585.00Rp1,615.009

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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