Asuransi Ramayana Tbk vs Progressive: Fair Value & Quality
Both stocks run through our valuation models. Here is how Asuransi Ramayana Tbk (ASRM) and Progressive (PGR) compare, as of Aug 10, 2026.
As of Aug 10, 2026, Fair Value Calculator sees Progressive as the more attractively valued of the two: Asuransi Ramayana Tbk trades at IDR 272 versus a fair value of IDR 220 (-19%), while Progressive trades at $215 versus $253 (+17%).
Asuransi Ramayana Tbk
ASRM.JK · IDR · Financials
-19%
upside to fair value
overvalued
PriceIDR 272
Fair ValueIDR 220
Quality47/100
Progressive
PGR · USD · Financials
+17%
upside to fair value
undervalued
Price$215
Fair Value$253
Quality65/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Asuransi Ramayana TbkProgressive
Valuation
17.3×P/E (TTM)11.7×
0.27×P/S (TTM)1.50×
0.47×P/B4.43×
5.4×EV/EBITDA9.3×
—PEG35.19×
1.2%Dividend yield0.2%
IDR 3Dividend per share$0.40
Profitability
2%Net margin13%
6%Operating margin16%
3%Return on equity38%
3%Return on assets8%
Growth
-7%Revenue growth (YoY)9%
-11.6%Avg. growth/yr (3Y)20.9%
0.3%Avg. growth/yr (5Y)15.5%
Balance & size
0.19×Debt / equity0.23×
$33MMarket cap$134B
weakGrowth qualitymixed
Progressive leads: 5 to 8 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Asuransi Ramayana Tbkof which business quality 48 · market factors 35Progressiveof which business quality 64 · market factors 58
ProfitabilityMargins and returns on capital today
49
61
Quality GrowthAre margins and returns improving?
55
64
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
92
37
Low VolatilityCalm price path (market factor)
50
88
MomentumPrice trend over the last 3–12 months (market factor)
32
48
52W MomentumDistance to the 52-week high (market factor)
23
41
Net IssuanceBuybacks instead of dilution
15
81
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Asuransi Ramayana Tbk
MultiplesIDR 254
Asset-BasedIDR 371
Economic ProfitIDR 399
1 of 4 models see the stock below the current price.
Progressive
Multiples$163
Asset-Based$34.90
Economic Profit$211
3 of 4 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Asuransi Ramayana Tbk
Bear IDR 165Fair Value IDR 220Bull IDR 275
IDR 272 = current price (white tick)
Progressive
Bear $189Fair Value $253Bull $316
$215 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Asuransi Ramayana Tbk · Financials
Quality score47 · below median
Fair value upside-19% · below median
Progressive · Financials
Quality score65 · Top 25%
Fair value upside+17% · above median
Bottom line
As of Aug 10, 2026, Fair Value Calculator sees Progressive as the more attractively valued of the two: Asuransi Ramayana Tbk trades at IDR 272 versus a fair value of IDR 220 (-19%), while Progressive trades at $215 versus $253 (+17%).
Progressive has the higher quality score (65/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
