PT Bank Tabungan Negara (Persero) Tbk (BBTN) Fair Value & Analysis
Financial Services · ID · Market cap 16.9T IDR
Fair value as of: Jul 15, 2026
From 4 valuation models · updated 26 days ago
Fair value updated Jul 15, 2026, revised from 2,240 IDR to 2,410 IDR (+7.6%) since Jun 26, 2026. Share price +4.7% over the past month.
Below-average quality, screening 96% undervalued on our models.
What matters now
- The price is below even our cautious bear case (1,808 IDR). The market is more pessimistic than our downside scenario.
- Solid quality (47/100) 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
60‑month range 724.67 IDR – 1,650 IDR · fair‑value band 1,808 IDR – 3,013 IDR · the 1,230 IDR price screens below the 2,410 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
PT Bank Tabungan Negara (Persero) Tbk (BBTN) currently trades at 1,230 IDR, while our model-based Fair Value estimate is 2,410 IDR, implying the stock looks roughly 95.9% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, PT Bank Tabungan Negara (Persero) Tbk generated revenue of 16.6T IDR at a net margin of 22.3%. Revenue grew 13.3% year over year. It earns a return on equity of 10.5%. Net debt stands at 48.2T IDR. Fundamentals as of Jul 15, 2026
Our scenario range runs from 1,808 IDR (bear case) to 3,013 IDR (bull case); at 1,230 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 18% below its 52-week high and 18% 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 96%, BBTN screens cheaper 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: Multiples (3,243 IDR) versus Asset-Based (1,729 IDR). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 47 · Market factors (momentum, volatility) 49
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 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. It operates through ATMs and branches.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Bank Tabungan Negara (Persero) Tbk 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.
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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.
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 15, 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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