Bank Pembangunan Timur Tbk (BJTM) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Bank Pembangunan Timur Tbk IDR 1,040, price IDR 520, upside +100.0%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 369.66 IDR – 551.26 IDR · fair‑value band 780.00 IDR – 1,300 IDR · the 520.00 IDR price screens below the 1,040 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT Bank Pembangunan Daerah Jawa Timur Tbk provides various banking products and services in Indonesia.
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PT Bank Pembangunan Daerah Jawa Timur Tbk provides various banking products and services in Indonesia. The company offers savings and current accounts, and deposits; personal loans, such as property and property consumption, multiguna, motor vehicle loans, and gold guarantee and cash collateral credit; productive loans; property construction loan, bank guarantee, checking account, investment loan, syndicated loans, financing receivables loan, local government loan, bureau of public service area loan, local government and bailout credit, and bank guarantee fore; and common foreign exchange, hedging forward contract, banknotes, deposit on call, and list of underlying documents. It also provides ATM, internet banking, mobile banking, SMS banking, virtual account, and electronic government staff card services; trade finance and remittance transactions that include letter of credit, documentary collection, bill purchasing and shipping guarantee remittance; safe deposit box; BPD net online; and other banking services. In addition, the company offers treasury papers, bonds, commercial papers, and other securities instruments. PT Bank Pembangunan Daerah Jawa Timur Tbk was founded in 1961 and is headquartered in Surabaya, Indonesia.
Stock analysis
Bank Pembangunan Timur Tbk (BJTM) currently trades at 520.00 IDR, while our model-based Fair Value estimate is 1,040 IDR, implying the stock looks roughly 50.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 1,273 IDR per share, and 4 of the 4 models we run sit above the 520.00 IDR price.
Bear case: the Asset-Based group reads lowest at 609.36 IDR, and 0 of the 4 models stay below the price. Evidence for this calculation is low.
Scenario range: 780.00 IDR (bear) to 1,300 IDR (bull), the price of 520.00 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 58/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Bank Pembangunan Timur Tbk reported revenue of 11.2T IDR in FY2025 versus 7.0T IDR in FY2021, a compound +12.3%/yr. Reported net income was 1.5T IDR in FY2025, compounding +0.4%/yr from FY2021.
Key figures
Market cap 7.8T IDR (≈ $781M) · P/E ratio 4.7 · P/S ratio 0.65 · EPS (TTM) 108.94 IDR · Net margin 13.8% · Return on equity 10.3% · Return on assets (EBIT) 1.7% · Operating margin 30.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at 100%, BJTM screens cheaper than that median.
Fair Value models
Bear 780.00 IDRFair Value 1,040 IDRBull 1,300 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (79.69 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.Evidence ⓘEvidence = 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+23.7%
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.
+15.0%
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.
+11.7%
Start year 2020 (pandemic). Over 10 years: +8.5% a year
Revenue growth 19 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.
+10.3%
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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.
+0.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.7%
Dividend (yield on the price)0.0%
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.1% vs 5%, slowing
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.23% → 19%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare Bank Pembangunan Timur Tbk 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 · 1074 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+100% · Top 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets1% · Top 25%
Net margin (TTM)23% · Below median
Operating margin (TTM)30% · Below median
Growth and dividend
Revenue growth50% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.58× · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Bank Pembangunan Timur Tbk Fair Value". https://www.fairvalue-calculator.com/stock/BJTM
Frequently asked questions
Is Bank Pembangunan Timur Tbk (BJTM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,040 IDR versus a price of 520.00 IDR, about +100% upside (undervalued).
What is the fair value of BJTM?
Our model-based fair value for Bank Pembangunan Timur Tbk is 1,040 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 520.00 IDR.
What is the quality score of BJTM?
Bank Pembangunan Timur Tbk 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 price target for Bank Pembangunan Timur Tbk (BJTM)?
Our model-based price target is the fair value of 1,040 IDR (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 780.00 IDR, optimistic scenario 1,300 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Bank Pembangunan Timur Tbk stock forecast for 2026?
Our models put fair value at 1,040 IDR, about +100% upside versus a price of 520.00 IDR (undervalued). Cautious scenario 780.00 IDR, optimistic scenario 1,300 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Bank Pembangunan Timur Tbk (BJTM)?
Bank Pembangunan Timur Tbk reported trailing-twelve-month revenue of about 7.1T IDR (latest available figure, as of Sep 24, 2026).
What growth is priced into Bank Pembangunan Timur Tbk (BJTM)?
For today's price to be fair in a discounted-cash-flow model, Bank Pembangunan Timur Tbk would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BJTM use?
Our models discount Bank Pembangunan Timur Tbk at 12.0 %: a base by market capitalisation (small), damped by beta 0.16, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bank Pembangunan Timur Tbk that is less than minus 40 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Bank Pembangunan Timur Tbk (BJTM) delivered so far?
Over the past 5 years revenue at Bank Pembangunan Timur Tbk grew +11.7 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bank Pembangunan Timur Tbk (BJTM) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Bank Pembangunan Timur Tbk (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bank Pembangunan Timur Tbk (BJTM)?
The free-cash-flow yield on the price is 45.98 %: that much free cash flow Bank Pembangunan Timur Tbk produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bank Pembangunan Timur Tbk (BJTM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bank Pembangunan Timur Tbk it is 1,040 IDR per share (as of Sep 24, 2026), against a price of 520.00 IDR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Bank Pembangunan Timur Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BJTM trades below its calculated fair value: price 520.00 IDR, fair value 1,040 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 BJTM?
No. The price is what the market pays today (520.00 IDR); the fair value is what the company's own numbers justify (1,040 IDR). For Bank Pembangunan Timur Tbk the two are 520.00 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Bank Pembangunan Timur Tbk worth?
The market values Bank Pembangunan Timur Tbk at about 7.8T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 520.00 IDR; our models calculate a fair value of 1,040 IDR per share.
What do the bullish and bearish scenarios say about BJTM?
Our models span a range for Bank Pembangunan Timur Tbk: cautious scenario 780.00 IDR, base 1,040 IDR, optimistic 1,300 IDR per share (as of Sep 24, 2026, price 520.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BJTM?
Bank Pembangunan Timur Tbk trades at a price-to-earnings ratio of 4.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,040 IDR is built from several models across several years. Other multiples: P/B 0.6, P/S 1.1.
How solid is the balance sheet of Bank Pembangunan Timur Tbk (BJTM)?
Balance-sheet figures for Bank Pembangunan Timur Tbk (as of Sep 24, 2026): return on equity 10.3%, debt of 0.58 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is BJTM from its 52-week high?
Bank Pembangunan Timur Tbk trades at 520.00 IDR, about 5% below its 52-week high of 545.94 IDR and 14% above the low of 455.70 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,040 IDR is for.
Which stocks are comparable to Bank Pembangunan Timur Tbk?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Pembangunan Timur Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 520.00 IDR, calculated fair value 1,040 IDR (+100%), Quality Score 58/100, from 4 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 BJTM calculated?
We run Bank Pembangunan Timur Tbk through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1,040 IDR, 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 14.1 % above its aggregate fair value. Bank Pembangunan Timur Tbk currently trades 100 % 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 Pembangunan Timur Tbk (BJTM)?
The closing price on Sep 23, 2026 was 520.00 IDR. Our model-based fair value is 1,040 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 Pembangunan Timur Tbk right now?
The price is below even our cautious bear case (780.00 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. 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 Pembangunan Timur Tbk (BJTM) come from?
Earnings per share at Bank Pembangunan Timur Tbk grew +4.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.6 %, EBIT margin −3.7 %, tax rate +1.1 %, residual (interest, one-offs) −0.2 %. 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 Pembangunan Timur Tbk
How large is the market capitalisation of Bank Pembangunan Timur Tbk (BJTM)?
The market capitalisation of Bank Pembangunan Timur Tbk is 7.8T IDR (≈ $781M). 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 Pembangunan Timur Tbk (BJTM)?
The price-to-sales ratio of Bank Pembangunan Timur Tbk is 0.65 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bank Pembangunan Timur Tbk (BJTM)?
Earnings per share at Bank Pembangunan Timur Tbk are 108.94 IDR (price ÷ EPS = P/E 4.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bank Pembangunan Timur Tbk (BJTM)?
The net margin of Bank Pembangunan Timur Tbk is 13.8% (fiscal year 2025). 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 Pembangunan Timur Tbk (BJTM)?
The return on equity (ROE) of Bank Pembangunan Timur Tbk is 10.3% (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 Pembangunan Timur Tbk (BJTM)?
On an EBIT basis the return on assets of Bank Pembangunan Timur Tbk is 1.7% (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 Pembangunan Timur Tbk (BJTM)?
The operating margin of Bank Pembangunan Timur Tbk is 30.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bank Pembangunan Timur Tbk (BJTM)?
Revenue at Bank Pembangunan Timur Tbk is growing +50.0% versus a year earlier (3y avg +15.0%). 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 Pembangunan Timur Tbk (BJTM)?
Earnings per share at Bank Pembangunan Timur Tbk are growing +30.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bank Pembangunan Timur Tbk (BJTM) carry?
The net debt of Bank Pembangunan Timur Tbk is 349B IDR (fiscal year 2025, ≈ 0.1 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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