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STOCK COMPARISON

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 Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees Asuransi Ramayana Tbk as the less overvalued of the two: Asuransi Ramayana Tbk trades at IDR 280 versus a fair value of IDR 239 (-15%), while Progressive trades at $203 versus $160 (-21%).
Asuransi Ramayana Tbk
ASRM.JK · IDR · Financials
-15%
upside to fair value
overvalued
PriceIDR 280
Fair ValueIDR 239
Quality47/100
Progressive
PGR · USD · Financials
-21%
upside to fair value
overvalued
Price$203
Fair Value$160
Quality65/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Asuransi Ramayana TbkProgressive
Valuation
19.3×P/E (TTM)10.3×
0.30×P/S (TTM)1.50×
0.52×P/B4.43×
6.0×EV/EBITDA9.3×
n/aPEG35.19×
−14.7%Fair value upside−21.1%
1.0%Dividend yield0.2%
IDR 3Dividend per share$0.40
Profitability
6%Operating margin16%
0.44×EBIT margin trend (5Y)0.96×
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%
−38.8%Value creation/yr+33.4%
Balance & size
2.3×Interest coverage (EBIT/interest)51.2×
0.19×Debt / equity0.23×
$37MMarket cap$134B
weakGrowth qualitymixed

Progressive leads: 6 to 9 metric wins.

n/a = 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 48 Progressiveof which business quality 64 · market factors 48
ProfitabilityMargins and returns on capital today
49
61
Quality GrowthAre margins and returns improving?
55
64
CashflowEarnings quality: real cash, not paper profit
37
81
Fin. StrengthBalance sheet, leverage, solvency risk
53
54
InvestmentDisciplined investing over empire-building
92
37
Low VolatilityCalm price path (market factor)
61
87
MomentumPrice trend over the last 3–12 months (market factor)
50
36
52W MomentumDistance to the 52-week high (market factor)
32
26
Net IssuanceShare count: buybacks or dilution?
15
81

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyAsuransi Ramayana TbkPrice IDR 280ProgressivePrice $203
Multiples-9%close to the priceIDR 254-20%below the price$163
Asset-Based+33%above the priceIDR 371-83%below the price$34.90
Economic Profit+36%above the priceIDR 381+4%close to the price$211
Minimum-9%close to the priceIDR 254-83%below the price$34.90
Maximum+36%above the priceIDR 381+4%close to the price$211
Median+33%above the priceIDR 371-20%below the price$163
Geometric mean+18%above the priceIDR 330-48%below the price$106

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Asuransi Ramayana Tbk: 1 of 4 models see the stock below the current price.

Progressive: 2 of 4 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Asuransi Ramayana Tbk
Price IDR 280
Fair Value IDR 239
Bear IDR 179Bull IDR 298
Progressive
Price $203
Fair Value $160
Bear $120Bull $200

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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-15% · below median

Progressive · Financials

Quality score65 · Top 25%
Fair value upside-21% · below median

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Asuransi Ramayana Tbk as the less overvalued of the two: Asuransi Ramayana Tbk trades at IDR 280 versus a fair value of IDR 239 (-15%), while Progressive trades at $203 versus $160 (-21%).

Progressive has the higher quality score (65/100).

Open Asuransi Ramayana Tbk live analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.