PT Bank Jago Tbk (ARTO) Fair Value & Analysis
Financial Services · ID · Market cap 19.5T IDR
Fair value as of: Jul 20, 2026
From 4 valuation models · updated 21 days ago
Share price +28.6% over the past month.
A solid business, but screening 80% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (323.84 IDR). The favourable scenario is already priced in.
- Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range 805.00 IDR – 19,000 IDR · fair‑value band 194.30 IDR – 323.84 IDR · the 1,305 IDR price screens above the 259.07 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
PT Bank Jago Tbk (ARTO) currently trades at 1,305 IDR, while our model-based Fair Value estimate is 259.07 IDR, implying the stock looks roughly 80.2% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, PT Bank Jago Tbk generated revenue of 2.2T IDR at a net margin of 13.9%. Revenue grew 26.6% year over year. It earns a return on equity of 3.5%. The balance sheet holds a net cash position of 4.4T IDR. Fundamentals as of Jul 20, 2026
Our scenario range runs from 194.30 IDR (bear case) to 323.84 IDR (bull case); at 1,305 IDR, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 47% below its 52-week high and 62% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at -80%, ARTO screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 4 models by family
Widest divergence: Economic Profit (459.88 IDR) versus Multiples (259.07 IDR). Highest evidence: P/E Multiple (63).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 26
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
PT Bank Jago Tbk provides banking products and services in Indonesia. The company offers current accounts; savings accounts, including saving and spending pockets, locked pockets, shared pockets, giveaway pockets, and sharia savings products; time and term deposits; and Mudharabah deposits.
Full company description
PT Bank Jago Tbk provides banking products and services in Indonesia. The company offers current accounts; savings accounts, including saving and spending pockets, locked pockets, shared pockets, giveaway pockets, and sharia savings products; time and term deposits; and Mudharabah deposits. It also provides working capital, investment, consumer, and multipurpose credit products; ultramicro financing with murabahah bil wakalah contracts; and financing with musyarakah and mudharabah contracts. In addition, the company offers debit cards, digital pro cards, ATMs and ALTO networks, QRIS, plan ahead services, remittances, recurring bill payments, request money services, spend analysis services, customer fund accounts, and FX pockets; and other supporting banking services. It serves retail consumers; mass markets; ultramicro businesses; and micro, small, and medium enterprises. The company was formerly known as PT Bank Artos Indonesia Tbk and changed its name to PT Bank Jago Tbk in June 2020. PT Bank Jago Tbk was founded in 1992 and is headquartered in Jakarta Selatan, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Bank Jago Tbk reported revenue of 3.9T IDR in FY2025 versus 663B IDR in FY2021, a compound +55.3%/yr. Reported net income was 276B IDR in FY2025, compounding +33.9%/yr from FY2021.
ARTO screens 80% overvalued. Compare with KB Financial Group →
Peer Group
Banks - Regional · 1083 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,175 IDR | 6,087 IDR | -1% |
| KB Financial Group 105560 | 184,400 KRW | 213,797 KRW | +16% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 2,970 IDR | 4,891 IDR | +65% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,310 IDR | 7,841 IDR | +82% |
| Banco Bradesco S.A BBD | 5,120 ARS | 10,240 ARS | +100% |
| Shinhan Financial Group 055550 | 107,900 KRW | 137,259 KRW | +27% |
| Hana Financial Group 086790 | 136,800 KRW | 193,969 KRW | +42% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Banco de Chile, CHILE | 193.10 CLP | 152.55 CLP | -21% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,400 VND | 84,201 VND | +42% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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