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STOCK COMPARISON

PT Bank SMBC Indonesia Tbk vs DBS Group Holdings: Fair Value & Quality

Both stocks run through our valuation models. Here is how PT Bank SMBC Indonesia Tbk (BTPN) and DBS Group Holdings (D05) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees DBS Group Holdings as the less overvalued of the two: PT Bank SMBC Indonesia Tbk trades at IDR 2,320 versus a fair value of IDR 690 (-70%), while DBS Group Holdings trades at S$77.69 versus S$40.48 (-48%).
PT Bank SMBC Indonesia Tbk
BTPN.JK · IDR · Financials
-70%
upside to fair value
overvalued
PriceIDR 2,320
Fair ValueIDR 690
Quality38/100
DBS Group Holdings
D05.SG · SGD · Financials
-48%
upside to fair value
overvalued
PriceS$77.69
Fair ValueS$40.48
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

PT Bank SMBC Indonesia TbkDBS Group Holdings
Valuation
55.3×P/E (TTM)20.2×
2.37×P/S (TTM)7.73×
0.52×P/B2.50×
47.1×EV/EBITDAn/a
0.41×PEG3.44×
−70.3%Fair value upside−47.9%
0.4%Dividend yield3.7%
IDR 9Dividend per shareS$2.85
Profitability
23%Operating margin60%
0.06×EBIT margin trend (5Y)0.99×
-0%Return on equity16%
-0%Return on assets1%
Growth
0%Revenue growth (YoY)3%
16.8%Avg. growth/yr (3Y)11.6%
9.8%Avg. growth/yr (5Y)9.4%
−31.4%Value creation/yr+12.7%
Balance & size
n/aInterest coverage (EBIT/interest)0.6×
0.67×Debt / equity0.69×
$2BMarket cap$172B
mixedGrowth qualityhealthy

DBS Group Holdings leads: 6 to 8 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.

PT Bank SMBC Indonesia Tbkof which business quality 39 · market factors 63 DBS Group Holdingsof which business quality 61 · market factors 93
ProfitabilityMargins and returns on capital today
13
38
Quality GrowthAre margins and returns improving?
27
54
CashflowEarnings quality: real cash, not paper profit
82
84
Fin. StrengthBalance sheet, leverage, solvency risk
28
56
InvestmentDisciplined investing over empire-building
76
78
Low VolatilityCalm price path (market factor)
81
100
MomentumPrice trend over the last 3–12 months (market factor)
54
86
52W MomentumDistance to the 52-week high (market factor)
59
98
Net IssuanceShare count: buybacks or dilution?
12
65

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 familyPT Bank SMBC Indonesia TbkPrice IDR 2,320DBS Group HoldingsPrice S$77.69
Dividend Discountn/a-35%below the priceS$50.54
Multiples-69%below the priceIDR 712-46%below the priceS$42.04
Asset-Based+29%above the priceIDR 2,986-79%below the priceS$16.26
Economic Profit+19%above the priceIDR 2,769-60%below the priceS$31.26
Minimum-69%below the priceIDR 712-79%below the priceS$16.26
Maximum+29%above the priceIDR 2,986-35%below the priceS$50.54
Median+19%above the priceIDR 2,769-53%below the priceS$36.65
Geometric mean-22%below the priceIDR 1,806-59%below the priceS$32.24

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%.

PT Bank SMBC Indonesia Tbk: 2 of 4 models see the stock below the current price.

DBS Group Holdings: 6 of 6 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.

PT Bank SMBC Indonesia Tbk
Price IDR 2,320
Fair Value IDR 690
Bear IDR 517Bull IDR 862
DBS Group Holdings
Price S$77.69
Fair Value S$40.48
Bear S$29.38Bull S$50.60

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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.

PT Bank SMBC Indonesia Tbk · Financials

Quality score38 · bottom 25%
Fair value upside-70% · bottom 25%

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-48% · bottom 25%

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees DBS Group Holdings as the less overvalued of the two: PT Bank SMBC Indonesia Tbk trades at IDR 2,320 versus a fair value of IDR 690 (-70%), while DBS Group Holdings trades at S$77.69 versus S$40.48 (-48%).

DBS Group Holdings has the higher quality score (65/100).

Open DBS Group Holdings 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.