Bank Tabungan Negara Persero (BBTN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Bank Tabungan Negara Persero stock IDR 1,840, price IDR 920, upside +100.0%, quality 57 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 724.67 IDR – 1,506 IDR · fair‑value band 1,693 IDR – 2,103 IDR · the 920.00 IDR price screens below the 1,840 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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PT Bank Tabungan Negara (Persero) Tbk provides various banking products and services in Indonesia. The company offers savings, current, demand, and deposit accounts; and consumer and commercial loans. It also provides fund transfer transaction, safety deposit box, and other services.
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It operates through ATMs and branches. The company was formerly known as Bank Tabungan Pos and changed its name to PT Bank Tabungan Negara (Persero) Tbk in 1963. PT Bank Tabungan Negara (Persero) Tbk was founded in 1950 and is headquartered in Jakarta, Indonesia.
Stock analysis
Bank Tabungan Negara Persero (BBTN) currently trades at 920.00 IDR, while our model-based Fair Value estimate is 1,840 IDR, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 2,673 IDR per share, and 4 of the 6 models we run sit above the 920.00 IDR price.
Bear case: the Dividend Discount group reads lowest at 643.99 IDR, and 2 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1,693 IDR (bear) to 2,103 IDR (bull), the price of 920.00 IDR sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Bank Tabungan Negara Persero reported revenue of 39.4T IDR in FY2025 versus 26.8T IDR in FY2021, a compound +10.2%/yr. Reported net income was 3.5T IDR in FY2025, compounding +10.2%/yr from FY2021.
Key figures
Market cap 12.9T IDR (≈ $713M) Small · P/E ratio 3.1 · P/S ratio 0.74 · EPS (TTM) 298.00 IDR · Dividend yield 5.7% · Net margin 23.9% · Return on equity 11.7% · Return on assets (EBIT) 0.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 100%, BBTN screens cheaper than that median.
Fair Value models
Bear1,693 IDRFair Value 1,840 IDRBull2,103 IDR
Price 920.00 IDR · Upside +100.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (254.73 IDR per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+28.2%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.5%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.8%
Start year 2020 (pandemic). Over 10 years: +9.6% a year
Revenue growth 24 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.4%
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What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+17.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.3%
Dividend (yield on the price)5.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.3% vs 4.8%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 11%
Compare Bank Tabungan Negara Persero with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Banks - Regional · 998 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+100.0% · Top 25%
Profitability
Return on equity (12 months)11.7% · Above median
Return on assets0.7% · Below median
Net margin (12 months)23.9% · Below median
Operating margin (12 months)48.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)24.7% · Top 25%
Dividend yield (12 months)5.7% · Top 25%
Balance sheet
Debt / equity1.00× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Bank Tabungan Negara Persero Fair Value". https://www.fairvalue-calculator.com/stock/BBTN
Frequently asked questions
Is Bank Tabungan Negara Persero (BBTN) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 1,840 IDR versus a price of 920.00 IDR, about +100% upside (undervalued).
What is the fair value of BBTN?
Our model-based fair value for Bank Tabungan Negara Persero is 1,840 IDR (as of Nov 8, 2026), built from audited fundamentals. The current price: 920.00 IDR.
What is the quality score of BBTN?
Bank Tabungan Negara Persero has a Quality Score of 57/100. 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 price target for Bank Tabungan Negara Persero (BBTN)?
Our model-based price target is the fair value of 1,840 IDR (as of Nov 8, 2026) from 6 valuation models. Cautious scenario 1,693 IDR, optimistic scenario 2,103 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Bank Tabungan Negara Persero stock forecast for 2026?
Our models put fair value at 1,840 IDR, about +100% upside versus a price of 920.00 IDR (undervalued). Cautious scenario 1,693 IDR, optimistic scenario 2,103 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Bank Tabungan Negara Persero (BBTN)?
Bank Tabungan Negara Persero reported trailing-twelve-month revenue of about 17.5T IDR (latest available figure, as of Nov 8, 2026).
Does Bank Tabungan Negara Persero pay a dividend?
Bank Tabungan Negara Persero currently shows a dividend yield of 5.73% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Bank Tabungan Negara Persero (BBTN)?
Bank Tabungan Negara Persero has a dividend yield of 5.7%.
What is the intrinsic value of Bank Tabungan Negara Persero (BBTN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bank Tabungan Negara Persero it is 1,840 IDR per share (as of Nov 8, 2026), against a price of 920.00 IDR. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Bank Tabungan Negara Persero stock overvalued or undervalued in 2026?
As of Nov 8, 2026, BBTN trades below its calculated fair value: price 920.00 IDR, fair value 1,840 IDR, a gap of about +100% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BBTN?
No. The price is what the market pays today (920.00 IDR); the fair value is what the company's own numbers justify (1,840 IDR). For Bank Tabungan Negara Persero the two are 920.00 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Bank Tabungan Negara Persero worth?
The market values Bank Tabungan Negara Persero at about 12.9T IDR (market capitalisation, as of Nov 8, 2026). Per share that is 920.00 IDR; our models calculate a fair value of 1,840 IDR per share.
What do the bullish and bearish scenarios say about BBTN?
Our models span a range for Bank Tabungan Negara Persero: cautious scenario 1,693 IDR, base 1,840 IDR, optimistic 2,103 IDR per share (as of Nov 8, 2026, price 920.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BBTN?
Bank Tabungan Negara Persero trades at a price-to-earnings ratio of 3.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,840 IDR is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 7.1. Other multiples: PEG 0.3, P/B 0.4, P/S 0.7.
What is the PEG ratio of BBTN?
The PEG ratio of Bank Tabungan Negara Persero is 0.31 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Bank Tabungan Negara Persero (BBTN)?
Balance-sheet figures for Bank Tabungan Negara Persero (as of Nov 8, 2026): return on equity 11.7%, debt of 1.00 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is BBTN from its 52-week high?
Bank Tabungan Negara Persero trades at 920.00 IDR, about 38% below its 52-week high of 1,490 IDR and 8% above the low of 850.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,840 IDR is for.
Which stocks are comparable to Bank Tabungan Negara Persero?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bank Tabungan Negara Persero stock attractive at the current price?
The data as of Nov 8, 2026: price 920.00 IDR, calculated fair value 1,840 IDR (+100%), Quality Score 57/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BBTN calculated?
We run Bank Tabungan Negara Persero through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 1,840 IDR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Bank Tabungan Negara Persero currently trades 50% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bank Tabungan Negara Persero (BBTN)?
The closing price on Nov 6, 2026 was 920.00 IDR. Our model-based fair value is 1,840 IDR, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bank Tabungan Negara Persero right now?
The price is below even our cautious bear case (1,693 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 (57/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Bank Tabungan Negara Persero (BBTN) come from?
Earnings per share at Bank Tabungan Negara Persero grew +4.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.7 %, EBIT margin −2.5 %, tax rate +0.6 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bank Tabungan Negara Persero
How large is the market capitalisation of Bank Tabungan Negara Persero (BBTN)?
The market capitalisation of Bank Tabungan Negara Persero is 12.9T IDR (≈ $713M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bank Tabungan Negara Persero (BBTN)?
The price-to-sales ratio of Bank Tabungan Negara Persero is 0.74 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bank Tabungan Negara Persero (BBTN)?
Earnings per share at Bank Tabungan Negara Persero are 298.00 IDR (price ÷ EPS = P/E 3.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bank Tabungan Negara Persero (BBTN)?
The dividend yield of Bank Tabungan Negara Persero is 5.7% (payout 17.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bank Tabungan Negara Persero (BBTN)?
The net margin of Bank Tabungan Negara Persero is 23.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bank Tabungan Negara Persero (BBTN)?
The return on equity (ROE) of Bank Tabungan Negara Persero is 11.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bank Tabungan Negara Persero (BBTN)?
On an EBIT basis the return on assets of Bank Tabungan Negara Persero is 0.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bank Tabungan Negara Persero (BBTN)?
The operating margin of Bank Tabungan Negara Persero is 48.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bank Tabungan Negara Persero (BBTN)?
Revenue at Bank Tabungan Negara Persero is growing +24.7% versus a year earlier (3y avg +14.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bank Tabungan Negara Persero (BBTN)?
Earnings per share at Bank Tabungan Negara Persero are growing +59.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bank Tabungan Negara Persero (BBTN) generate?
The free cash flow of Bank Tabungan Negara Persero is 7.7T IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bank Tabungan Negara Persero (BBTN) carry?
The net debt of Bank Tabungan Negara Persero is 48.2T IDR (fiscal year 2025, ≈ 6.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 8, 2026