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PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, (BJBR) Fair Value & Analysis

Financial Services · ID · Market cap 8.3T IDR

PB PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, BJBR · JK
Price790.00 IDR
Fair Value1,424 IDR
Upside+80.3%
Quality56/100
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Mixed Growth
Solidly profitable · 12.8% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (8/15)
Moderate moat 56/100
Evidence: High Range 1,068 IDR – 1,780 IDR Share as image

Fair value as of: Jul 19, 2026

From 4 valuation models · updated 21 days ago

Share price +3.9% over the past month.

A solid business, screening 80% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (1,068 IDR). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) 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.
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Price vs Fair Value (5 years)

1,034 IDR 584.82 IDR Fair Value 1,424 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 584.82 IDR – 1,034 IDR · fair‑value band 1,068 IDR – 1,780 IDR · the 790.00 IDR price screens below the 1,424 IDR fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, (BJBR) currently trades at 790.00 IDR, while our model-based Fair Value estimate is 1,424 IDR, implying the stock looks roughly 80.3% undervalued today. The Quality Score stands at 56/100 (solid 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 Pembangunan Daerah Jawa Barat dan Banten Tbk, generated revenue of 9.1T IDR at a net margin of 12.8%. Revenue grew 0.5% year over year. It earns a return on equity of 7.8%. Net debt stands at 21.4T IDR. Fundamentals as of Jul 19, 2026

Our scenario range runs from 1,068 IDR (bear case) to 1,780 IDR (bull case); at 790.00 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 4% below its 52-week high and 17% 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%, BJBR 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income 1,325 IDR 1,396 IDR 1,505 IDR 76
P/E Multiple 1,068 IDR 1,424 IDR 1,780 IDR 63
P/B Multiple 1,397 IDR 1,863 IDR 2,328 IDR 55
All 4 models by family
Multiples
P/E Multiple 1,068 IDR 1,424 IDR 1,780 IDR 63
P/B Multiple 1,397 IDR 1,863 IDR 2,328 IDR 55
Asset-Based
NCAV (Graham) 809.43 IDR 1,085 IDR 1,619 IDR 50
Economic Profit
Residual Income 1,325 IDR 1,396 IDR 1,505 IDR 76

Widest divergence: Multiples (1,424 IDR) versus Asset-Based (1,085 IDR). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 9.1T IDR
Revenue growth (YoY) +0.5%
Net margin 12.8%
Return on equity 7.8%
Free cash flow 4.7T IDR FY2025
P/E ratio 6.4
More key figures
Operating margin 29.2%
EPS (TTM) 110.69 IDR
EPS growth (YoY) +2.9%
Net debt 21.4T IDR FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 56 · Market factors (momentum, volatility) 65

Profitability 19
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 94
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 63
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.

About the company

PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, together with its subsidiaries, provides banking products and services to individuals and businesses in Indonesia. It operates through two segments, Conventional and Sharia.

Full company description

PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, together with its subsidiaries, provides banking products and services to individuals and businesses in Indonesia. It operates through two segments, Conventional and Sharia. The company offers savings and checking accounts; time, foreign currency, and online deposits; employee, home ownership, motor vehicle, ultra micro and micro, small and medium enterprise, and corporation and government credit products; drinking water and education fee bill payment services; tax payment services; foreign exchange, safe deposit box, weekend banking, money transfer, and customer care; and corporate internet banking, trade finance, treasury and custody, bank guarantee, bank financial support, and digital empowerment services. It also provides investment and insurance services, including retail bonds, mutual funds, and bancassurance; e-banking services; debit and credit cards; ATMs; quick response code Indonesian standard payment services; and self-service banking machines. The company was formerly known as PT Bank Pembangunan Daerah Jawa Barat and changed its name to PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk in November 2007. PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk was founded in 1961 and is headquartered in Bandung, Indonesia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, reported revenue of 19.7T IDR in FY2025 versus 14.2T IDR in FY2021, a compound +8.5%/yr. Reported net income was 1.2T IDR in FY2025, compounding −13.2%/yr from FY2021.

Growth Quality 73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
19.7T IDR
Latest YoY
+13.2%
Avg. growth/yr (3Y)
+10.6%
Avg. growth/yr (5Y)
+7.8%
Avg. growth/yr (22Y)
+12.2%
Revenue +8.5%/yr
FY21 14.2T IDR
FY22 14.6T IDR
FY23 15.5T IDR
FY24 17.4T IDR
FY25 19.7T IDR
Net income −13.2%/yr
FY21 2.0T IDR
FY22 2.3T IDR
FY23 1.8T IDR
FY24 1.4T IDR
FY25 1.2T IDR

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Cite: Fair Value Calculator (2026). "PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, Fair Value". https://www.fairvalue-calculator.com/stock/BJBR

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.

Quality Score 59 · Top 25%
Fair Value upside +80% · Top 25%
Return on equity (TTM) 8% · Below median
Return on assets 1% · Below median
Net margin (TTM) 13% · Bottom 25%
Operating margin (TTM) 29% · Below median
Revenue growth 1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 1.35× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 7.1× · Cheaper than 75% of peers
P/B 0.48× · Cheaper than 75% of peers
P/S (TTM) 0.91× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.5× · Cheaper than 75% of peers
PEG 0.42× · Cheaper than 75% of peers

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 100 · sector 39
FUTURE 3 · sector 44
PAST 31 · sector 41
HEALTH 33 · sector 85
DIVIDEND 0 · sector 49

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

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 19, 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

Is PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, (BJBR) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 1,424 IDR versus a price of 790.00 IDR, about +80% (undervalued).
What is the fair value of BJBR?
Our model-based fair value for PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, is 1,424 IDR (as of Jul 19, 2026), built from audited fundamentals. The current price is 790.00 IDR.
What is the quality score of BJBR?
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, has a Quality Score of 56/100. 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 PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, (BJBR)?
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, reported trailing-twelve-month revenue of about 9.1T IDR (latest available figure, as of Jul 19, 2026).
What is the net profit margin of BJBR?
The net profit margin of PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk, is about 12.8%, meaning it keeps roughly 12.8% of revenue as net income. Based on the latest reported figures.

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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