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Pelayaran Nasional Bina Buana Raya (BBRM) Fair Value & Analysis

Industrials · ID · Market cap 992B IDR (≈ $99.2M) · ISIN ID1000126204

What is Pelayaran Nasional Bina Buana Raya really worth?

PN Pelayaran Nasional Bina Buana Raya BBRM · JK
Price116.00 IDR
Fair Value178.65 IDR
Upside+54.0%
Quality58/100

A solid business, trading 35% below our fair value of 178.65 IDR.

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Strengths

Highly profitable · 45.9% net margin
Low debt · generates free cash flow
Ranks above peers (8/13)
Wide moat 75/100

Risks

!Expensive Growth (revenue 5y +3.8 %/yr)
!Evidence only low, so the estimate is less certain
Evidence: Low Range 178.65 IDR – 357.30 IDR

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 20 days ago

Fair value updated Aug 13, 2026, revised from 179.39 IDR to 178.65 IDR (−0.4%) since Jul 18, 2026.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (178.65 IDR). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (178.65 IDR to 357.30 IDR) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

268.00 IDR 50.00 IDR Fair Value 178.65 IDR Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 50.00 IDR – 268.00 IDR · fair‑value band 178.65 IDR – 357.30 IDR · the 116.00 IDR price screens below the 178.65 IDR fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Pelayaran Nasional Bina Buana Raya (BBRM) currently trades at 116.00 IDR, while our model-based Fair Value estimate is 178.65 IDR, implying the stock looks roughly 35.1% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bull case: the Dividend Discount group reads highest at a median of 535.95 IDR per share, and 19 of the 19 models we run sit above the 116.00 IDR price. Bear case: the DCF Models group reads lowest at 178.65 IDR, and 0 of the 19 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Pelayaran Nasional Bina Buana Raya generated revenue of 13.7M IDR at a net margin of 45.9%. Revenue declined 5.0% year over year. It earns a return on equity of 14.8%. The balance sheet holds a net cash position of 9.2M IDR. Fundamentals as of Aug 13, 2026

Our scenario range runs from 178.65 IDR (bear case) to 357.30 IDR (bull case); at 116.00 IDR, the current price sits below 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 61% below its 52-week high and 66% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 42% fair-value upside, at 54%, BBRM screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 9.01 IDR per share, which is 5.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence 178.65 IDR 178.65 IDR 178.65 IDR 81
Growth DCF 178.65 IDR 178.65 IDR 178.65 IDR 79
Owner Earnings 178.65 IDR 178.65 IDR 178.65 IDR 77
All 22 models by family
DCF Models
FCF DCF best evidence 178.65 IDR 178.65 IDR 178.65 IDR 81
Owner Earnings 178.65 IDR 178.65 IDR 178.65 IDR 77
5Y Revenue Exit 178.65 IDR 68
5Y EBITDA Exit 178.65 IDR 178.65 IDR 357.30 IDR 73
5Y P/E Exit 178.65 IDR 178.65 IDR 357.30 IDR 68
10Y Revenue Exit 178.65 IDR 178.65 IDR 64
10Y EBITDA Exit 178.65 IDR 178.65 IDR 178.65 IDR 69
10Y P/E Exit 178.65 IDR 178.65 IDR 178.65 IDR 64
Earnings-Based
Graham-Dodd 178.65 IDR 178.65 IDR 62
EPV 178.65 IDR 178.65 IDR 178.65 IDR 72
Dividend Discount
Gordon GGM 535.95 IDR 535.95 IDR 714.60 IDR 67
DDM Multi-Stage 535.95 IDR 714.60 IDR 893.25 IDR 65
Multiples
P/E Multiple 178.65 IDR 357.30 IDR 357.30 IDR 61
P/B Multiple 178.65 IDR 178.65 IDR 357.30 IDR 50
EV/EBIT 178.65 IDR 178.65 IDR 178.65 IDR 65
EV/EBITDA 178.65 IDR 178.65 IDR 357.30 IDR 63
Asset-Based
NCAV (Graham) 178.65 IDR 50
Growth DCF
Growth DCF 178.65 IDR 178.65 IDR 178.65 IDR 79
Rev-Margin DCF 178.65 IDR 68
Economic Profit
Residual Income 178.65 IDR 178.65 IDR 178.65 IDR 75
ROIC Compounder 178.65 IDR 178.65 IDR 178.65 IDR 71
Growth Earnings
Growth-Adj P/E 178.65 IDR 178.65 IDR 357.30 IDR 64

Widest divergence: Dividend Discount (535.95 IDR) versus DCF Models (178.65 IDR). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/E ratio 8.8 as of Jul 18, 2026
P/S ratio 3.99 P/E × margin
EPS (TTM) 13.30 IDR price ÷ EPS = P/E 8.8
Net margin 45.4% FY2025
Return on equity 14.8% TTM
Return on assets (EBIT) 9.6% avg 5y
More key figures
Profitability
Operating margin 38.9% TTM
Growth
Revenue (TTM) 13.7M IDR TTM
Revenue growth (YoY) −5.0% 3y avg +13.5%
Balance sheet & cash flow
Free cash flow 3.3M IDR FY2025
Net cash 9.2M IDR FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 47

Profitability 53
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 12
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PT Pelayaran Nasional Bina Buana Raya Tbk, a shipping company, provides marine, logistics, and offshore support services in Indonesia. The company operates through Tugboat and Barge; and Offshore Support Vessel segments. It engages in the rental of self-propelled barge and offshore support vessels; and charting of its vessels.

Full company description

PT Pelayaran Nasional Bina Buana Raya Tbk, a shipping company, provides marine, logistics, and offshore support services in Indonesia. The company operates through Tugboat and Barge; and Offshore Support Vessel segments. It engages in the rental of self-propelled barge and offshore support vessels; and charting of its vessels. PT Pelayaran Nasional Bina Buana Raya Tbk was incorporated in 1998 and is headquartered in Jakarta Pusat, Indonesia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Pelayaran Nasional Bina Buana Raya reported revenue of $13.6M in FY2025 versus $7.6M in FY2021, a compound +15.9%/yr. Reported net income was $6.2M in FY2025, compounding +74.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
13.6M IDR
Latest YoY
+1.6%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.8%
Avg. revenue growth/yr (15Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+29.2% (29.2 + 0.0)
Revenue +15.9%/yr
FY21 $7.6M
FY22 $9.3M
FY23 $10.5M
FY24 $13.4M
FY25 $13.6M
Net income +74.2%/yr
FY21 $673K
FY22 $692K
FY23 $4.0M
FY24 $8.2M
FY25 $6.2M

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Cite: Fair Value Calculator (2026). "Pelayaran Nasional Bina Buana Raya Fair Value". https://www.fairvalue-calculator.com/stock/BBRM

Peer Group

Marine Shipping · 238 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.

Quality Score 58 · Above median
Fair Value upside +54% · Top 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 46% · Top 25%
Operating margin (TTM) 39% · Top 25%
Revenue growth −5% · Below median
Debt / equity 0.05× · Lower than 75% of peers

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 8.8× · Cheaper than median
P/B 2.24× · Pricier than 75% of peers
P/S (TTM) 7.26× · Pricier than 75% of peers
P/FCF 30.4× · Pricier than 75% of peers
EV/EBITDA 11.6× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 33
FUTURE0 · sector 23
PAST59 · sector 27
HEALTH97 · sector 89
DIVIDEND0 · sector 56

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,714 ₹1,041 −39%
A.P. Møller - Mærsk A/S MAERSKA kr 20,820 kr 20,145 −3%
532921 532921 ₹1,697 ₹1,305 −23%
COSCO SHIPPING Holdings 601919 ¥17.11 ¥49.90 +192%
Hapag-Lloyd Aktiengesellschaft, HLAG €132.80 €88.00 −34%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.15 +19%
HMM Co 011200 21,450 KRW 33,795 KRW +58%
Orient Overseas (International) Limited 0316 HK$166.90 HK$237.61 +42%
Ningbo Zhoushan Port Company 601018 ¥3.39 ¥5.58 +65%
Qingdao Port International Co 601298 ¥8.69 ¥15.97 +84%

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Frequently asked questions

Is Pelayaran Nasional Bina Buana Raya (BBRM) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 178.65 IDR versus a price of 116.00 IDR, about +54% upside (undervalued).
What is the fair value of BBRM?
Our model-based fair value for Pelayaran Nasional Bina Buana Raya is 178.65 IDR (as of Aug 13, 2026), built from audited fundamentals. The current price: 116.00 IDR.
What is the quality score of BBRM?
Pelayaran Nasional Bina Buana Raya has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Pelayaran Nasional Bina Buana Raya (BBRM)?
Pelayaran Nasional Bina Buana Raya reported trailing-twelve-month revenue of about 13.7M IDR (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BBRM?
The net profit margin of Pelayaran Nasional Bina Buana Raya is about 45.9%, meaning it keeps roughly 45.9% of revenue as net income. Based on the latest reported figures.
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