Bank Mandiri Persero Tbk PT (BMRI) fair value: what the stock is really worth
We calculate from audited financials what Bank Mandiri Persero Tbk PT is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
- Compare price with fair valuebelow fair value = cheap, above = expensive
- Check the quality50 and up solid, 75 and up strong
- Watch it or check another stockalert when fair value or trend changes
At a glance
A solid business, trading 27% below our fair value of 6,067 IDR.
As of Sep 6, 2026, the fair value of Bank Mandiri Persero Tbk PT is 6,067 IDR per share against a price of 4,420 IDR, so the fair value sits 37% above the price. A model estimate from reported figures, not an analyst target.
Fair value as of: Sep 6, 2026
From 4 valuation models · updated yesterday
Share price +4.7% over the past month.
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 (4,550 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 (60/100) 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 Sep 6, 2026.
How to read this chart
60‑month range 1,997 IDR – 6,095 IDR · fair‑value band 4,550 IDR – 7,584 IDR · the 4,420 IDR price screens below the 6,067 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 6, 2026.
Analysis
Bank Mandiri Persero Tbk PT (BMRI) currently trades at 4,420 IDR, while our model-based Fair Value estimate is 6,067 IDR, implying the stock looks roughly 27.2% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of 5,465 IDR per share, and 2 of the 4 models we run sit above the 4,420 IDR price. Bear case: the Asset-Based group reads lowest at 2,109 IDR, and 2 of the 4 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Bank Mandiri Persero Tbk PT generated revenue of 145T IDR at a net margin of 40.3%. Revenue grew 1.5% year over year. It earns a return on equity of 21.0%. Net debt stands at 279T IDR. Fundamentals as of Sep 6, 2026
Scenario range: 4,550 IDR (bear) to 7,584 IDR (bull), the price of 4,420 IDR sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 10% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at 37%, BMRI screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (429.21 IDR per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
All 4 models by family
Widest divergence: Economic Profit (5,465 IDR) versus Asset-Based (2,109 IDR). Highest evidence: Residual Income (64).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 56
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 Bank Mandiri (Persero) Tbk provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.
Full company description
PT Bank Mandiri (Persero) Tbk provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands. It offers savings and current accounts, multicurrency, payroll, NOW, and foreign currency savings accounts; personal, mortgage, micro enterprise, small and medium enterprises, working capital, and investment loans; corporate, credit, and debit cards; and e-banking services. The company also provides life, health, and accident insurance products, as well as investment products; cash management, bill collection, payment, trade finance, money transfer, remittance, and wealth management services; and treasury services, including cash transaction, hedging, and investment products. It operates branch offices, sub-branch offices, and overseas branch offices; and ATM facilities. The company was founded in 1998 and is headquartered in Jakarta, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Bank Mandiri Persero Tbk PT reported revenue of 204T IDR in FY2025 versus 120T IDR in FY2021, a compound +14.2%/yr. Reported net income was 56.3T IDR in FY2025, compounding +19.0%/yr from FY2021.
of which total revenue +8.5 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Banks - Regional · 1070 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
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Bank Mandiri Persero Tbk PT deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Sep 6, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.74 | €5.66 | −16% |
| HDFC Bank Limited HDB | $23.18 | $24.12 | +4% |
| BNP Paribas SA BNP | €104.54 | €144.64 | +38% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,423 | ₹835.21 | −41% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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