PT Asuransi Ramayana Tbk (ASRM) Fair Value & Analysis
Financial Services · ID · Market cap 330B IDR
Fair value as of: Jul 17, 2026
From 4 valuation models · updated 24 days ago
Share price +9.7% over the past month.
Below-average quality, and screening another 19% overvalued on our models.
What matters now
- Solid but not exceptional quality (46/100) 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 17, 2026.
How to read this chart
60‑month range 234.00 IDR – 1,070 IDR · fair‑value band 165.15 IDR – 275.25 IDR · the 272.00 IDR price screens above the 220.20 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
PT Asuransi Ramayana Tbk (ASRM) currently trades at 272.00 IDR, while our model-based Fair Value estimate is 220.20 IDR, implying the stock looks roughly 19.0% overvalued today. The Quality Score stands at 46/100 (below-average 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 Asuransi Ramayana Tbk generated revenue of 1.2T IDR at a net margin of 1.5%. Revenue declined 7.1% year over year. It earns a return on equity of 2.5%. Net debt stands at 60.1B IDR. Fundamentals as of Jul 17, 2026
Our scenario range runs from 165.15 IDR (bear case) to 275.25 IDR (bull case); at 272.00 IDR, the current price sits within 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 75% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 8% fair-value upside, at -19%, ASRM 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 (398.55 IDR) versus Multiples (220.20 IDR). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 35
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 Asuransi Ramayana Tbk operates as a general insurance company in Indonesia. It operates in two segments, General Insurance and Rental of Office Buildings.
Full company description
PT Asuransi Ramayana Tbk operates as a general insurance company in Indonesia. It operates in two segments, General Insurance and Rental of Office Buildings. The company offers property, vehicle, health, freight, ship frame, surety and customs bond, engineering, money, heavy equipment, and personal accident insurance products; land, sea, and air freight insurance products; and construction and erection all risk, contractor plant and machinery/equipment, machinery breakdown, electronic equipment, and civil engineering completed risk insurance products. It also provides general, public, professional, automobile, golfer indemnity, director and officer, garage keeper, and warehouse liability insurance products; and sharia products. In addition, the company engages in the rental of office buildings and cars. PT Asuransi Ramayana Tbk was founded in 1956 and is headquartered in Jakarta, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Asuransi Ramayana Tbk reported revenue of 1.4T IDR in FY2025 versus 1.7T IDR in FY2021, a compound −4.0%/yr. Reported net income was 21.6B IDR in FY2025, compounding −24.0%/yr from FY2021.
of which total revenue +9.9 pp · buybacks/dilution −12.9 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
ASRM screens 19% overvalued. Compare with The Progressive Corporation →
Peer Group
Insurance - Property & Casualty · 120 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 Insurance - Property & Casualty 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.
Insider activity: 40/100
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 Insurance - Property & Casualty stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The Progressive Corporation PGR | $234.48 | $252.50 | +8% |
| Chubb Limited CB | $337.44 | $345.56 | +2% |
| The Travelers Companies, Inc TRV | $368.98 | $384.42 | +4% |
| The Allstate Corporation ALL | $251.61 | $503.22 | +100% |
| The People's Insurance Company 601319 | ¥7.06 | ¥13.71 | +94% |
| Intact Financial Corporation IFC | C$294.02 | C$247.44 | -16% |
| Fairfax Financial Holdings FFH | C$2,327 | C$3,252 | +40% |
| QBE Insurance Group QBE | A$25.47 | A$19.42 | -24% |
| Samsung Fire & Marine Insurance Co 000810 | 648,000 KRW | 658,771 KRW | +2% |
| Powszechny Zaklad Ubezpieczen SA PZU | 69.80 PLN | 100.85 PLN | +44% |
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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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