PT Bumi Serpong Damai Tbk

IDX:BSDE Stock Report

Market Cap: Rp21.4t

Bumi Serpong Damai Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 BSDE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BSDE (IDR1025) is trading above our estimate of fair value (IDR797.54)

Significantly Below Fair Value: BSDE is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BSDE. This is calculated by dividing BSDE's market cap by their current earnings.
What is BSDE's PE Ratio?
PE Ratio7.4x
EarningsRp2.88t
Market CapRp21.44t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BSDE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.5x
MKPI Metropolitan Kentjana
26.5xn/aRp23.6t
CTRA Ciputra Development
10.5x9.8%Rp20.4t
SMRA Summarecon Agung
8.9x-5.9%Rp9.3t
JRPT Jaya Real Property
7.9xn/aRp8.6t
BSDE Bumi Serpong Damai
7.4x5.7%Rp21.4t

Price-To-Earnings vs Peers: BSDE is good value based on its Price-To-Earnings Ratio (7.4x) compared to the peer average (13.5x).

Price to Earnings Ratio vs Industry

How does BSDE's PE Ratio compare vs other companies in the ID Real Estate Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
LPKR Lippo Karawaci
0.4x-98.7%US$486.71m
EMDE Megapolitan Developments
1.8xn/aUS$27.01m
No more companies available in this PE range
BSDE 7.4xIndustry Avg. 12.1xNo. of Companies8PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BSDE is good value based on its Price-To-Earnings Ratio (7.4x) compared to the ID Real Estate industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is BSDE'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.

BSDE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.4x
Fair PE Ratio8.3x

Price-To-Earnings vs Fair Ratio: BSDE is good value based on its Price-To-Earnings Ratio (7.4x) compared to the estimated Fair Price-To-Earnings Ratio (8.3x).

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 BSDE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp1,025.00
Rp1,402.86
+36.9%
8.9%Rp1,550.00Rp1,050.00n/a14
Nov ’25Rp1,175.00
Rp1,410.00
+20.0%
10.1%Rp1,620.00Rp1,090.00n/a13
Oct ’25Rp1,210.00
Rp1,383.00
+14.3%
10.6%Rp1,620.00Rp1,090.00n/a14
Sep ’25Rp1,285.00
Rp1,360.14
+5.8%
9.7%Rp1,550.00Rp1,090.00n/a14
Aug ’25Rp1,035.00
Rp1,322.69
+27.8%
7.6%Rp1,490.00Rp1,185.00n/a13
Jul ’25Rp950.00
Rp1,328.21
+39.8%
7.5%Rp1,490.00Rp1,185.00n/a14
Jun ’25Rp945.00
Rp1,328.21
+40.6%
7.5%Rp1,490.00Rp1,185.00n/a14
May ’25Rp930.00
Rp1,323.93
+42.4%
8.9%Rp1,490.00Rp1,100.00n/a14
Apr ’25Rp970.00
Rp1,337.33
+37.9%
9.4%Rp1,560.00Rp1,100.00n/a15
Mar ’25Rp1,035.00
Rp1,360.00
+31.4%
9.5%Rp1,560.00Rp1,100.00n/a16
Feb ’25Rp1,020.00
Rp1,360.00
+33.3%
9.5%Rp1,560.00Rp1,100.00n/a16
Jan ’25Rp1,080.00
Rp1,382.50
+28.0%
8.1%Rp1,560.00Rp1,180.00n/a16
Dec ’24Rp1,050.00
Rp1,344.69
+28.1%
13.3%Rp1,560.00Rp800.00n/a16
Nov ’24Rp970.00
Rp1,350.67
+39.2%
13.0%Rp1,560.00Rp800.00Rp1,175.0015
Oct ’24Rp1,020.00
Rp1,319.25
+29.3%
13.7%Rp1,500.00Rp800.00Rp1,210.0016
Sep ’24Rp1,125.00
Rp1,312.24
+16.6%
13.5%Rp1,500.00Rp800.00Rp1,285.0017
Aug ’24Rp1,195.00
Rp1,290.47
+8.0%
13.6%Rp1,500.00Rp800.00Rp1,035.0017
Jul ’24Rp1,095.00
Rp1,285.18
+17.4%
13.2%Rp1,490.00Rp800.00Rp950.0017
Jun ’24Rp1,050.00
Rp1,271.65
+21.1%
12.9%Rp1,490.00Rp800.00Rp945.0017
May ’24Rp1,065.00
Rp1,202.53
+12.9%
12.5%Rp1,490.00Rp800.00Rp930.0017
Apr ’24Rp980.00
Rp1,181.88
+20.6%
13.1%Rp1,490.00Rp800.00Rp970.0017
Mar ’24Rp960.00
Rp1,194.56
+24.4%
13.4%Rp1,490.00Rp800.00Rp1,035.0018
Feb ’24Rp930.00
Rp1,194.56
+28.4%
13.4%Rp1,490.00Rp800.00Rp1,020.0018
Jan ’24Rp920.00
Rp1,223.17
+33.0%
14.1%Rp1,500.00Rp800.00Rp1,080.0018
Dec ’23Rp935.00
Rp1,239.84
+32.6%
14.1%Rp1,500.00Rp800.00Rp1,050.0019
Nov ’23Rp930.00
Rp1,264.84
+36.0%
13.5%Rp1,500.00Rp800.00Rp970.0019

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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