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Bakrie & Brothers Tbk (BNBR) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Bakrie & Brothers Tbk stock IDR 82, price IDR 40, upside +105.0%, quality 19 out of 100. Rating: strongly undervalued. Calculated from audited financials with 3 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials ID · ISIN ID1000110000

BB Bakrie & Brothers Tbk logo Thin data Nov 4, 2026

Bakrie & Brothers Tbk

BNBR · JK
Cheap, value-trap risk

The stock costs 51% less than our calculation considers fair.

Fair value 82.00 IDR · Strongly undervalued (51%)
Revenue last quarter +77% vs. a year ago.
Expensive Growth (revenue 5y +8.8 %/yr in IDR)
Thin margins · 4.7% net margin (TTM)
Quality 19/100
High debt
Negative free cash flow
Trails peers (2/11)
Narrow moat 30/100 · thin data
Thin data
Data corrected by AI research
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

3,800 IDR 20.00 IDR Fair Value 82.00 IDR Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

60‑month range 20.00 IDR – 3,800 IDR · fair‑value band 38.27 IDR – 104.14 IDR · the 40.00 IDR price screens below the 82.00 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.

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Company profile

PT Bakrie & Brothers Tbk, through its subsidiaries, engages in the trading, construction, agriculture, coal mining, oil and gas, and telecommunication businesses in Indonesia and internationally.

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The company operates through Infrastructure and Manufacturing; Fabrication and Construction Services; and Trading, Services, and Investment segments. It offers automotive components, including ferrous foundry, precision machining, grey iron and steel casting, and pattern making.

The company also provides fiber cement-based products; and ceiling and partition, mortars, and prefabricated house solutions, as well as flooring, fascia, and siding products.

In addition, it owns, develops, and operates diversified assets portfolio and project pipelines comprising toll roads, power, oil and gas, ports, and telecommunication.

Further, the company offers pipe manufacturing services consisting of electric resistance welding pipes, and longitudinal and helical submerged arc welding pipes; heavy industrial steel fabrication and construction services for oil and gas, metal, mining, and power industries; and civil steel structure and corrugated metals.

The company was founded in 1942 and is headquartered in Jakarta Selatan, Indonesia.

Stock analysis

Bakrie & Brothers Tbk (BNBR) currently trades at 40.00 IDR, while our model-based Fair Value estimate is 82.00 IDR, implying the stock looks roughly 51% undervalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 91/100, which puts the data coverage at low.

Scenario range: 38.27 IDR (bear) to 104.14 IDR (bull), the price of 40.00 IDR sits inside 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 19/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Bakrie & Brothers Tbk reported revenue of 3.7T IDR in FY2025 versus 2.4T IDR in FY2021, a compound +11.9%/yr. Reported net income was 494B IDR in FY2025, compounding +66.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 11.6T IDR (≈ $640M) Small · P/E ratio 35.8 · P/S ratio 1.67 · EPS (TTM) 1.23 IDR · Net margin 4.7% · Return on equity 5.1% · Return on assets (EBIT) 1.9% (5-year average) · Operating margin 4.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).

What moves the price

The share trades about 85% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at 105%, BNBR screens cheaper than that median.

Fair Value models

Bear 38.27 IDR Fair Value 82.00 IDR Bull 104.14 IDR
Price 40.00 IDR · Upside +105.0%
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 (1.05 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.
Best data coverage
Residual Income 162,734 IDR 178,158 IDR 203,281 IDR 71
Graham-Dodd 173,324 IDR 371,345 IDR 471,595 IDR 66
P/E Multiple 401,450 IDR 535,266 IDR 669,083 IDR 63
All 3 models by family
Earnings-Based
Graham-Dodd 173,324 IDR 371,345 IDR 471,595 IDR 66
Multiples
P/E Multiple 401,450 IDR 535,266 IDR 669,083 IDR 63
Economic Profit
Residual Income 162,734 IDR 178,158 IDR 203,281 IDR 71

Open the full fair value analysis →

Quality Score breakdown

Overall quality 19/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 29
How much profit the company makes from its sales and capital
Quality Growth 9
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 5
Debt, balance sheet and risk of trouble
Investment 44
Does it invest with discipline instead of growing at any price?
Low Volatility 20
How calm the share price moves, does not count
Price momentum 28
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 19
Distance to the 52-week high, does not count
New shares 40
Buys back shares or issues new ones?

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Revenue & earnings trend

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. 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−3.3%
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.
+1.1%
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: −1.2% a year
Revenue growth 25 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.
+3.5%
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.
−33.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−33.5%
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.−33.5% vs −16.0%, 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.−11% → 0%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 16.9%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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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.Conglomerates · 305 stocks

Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 19 · Bottom 25%
Fair Value upside +105.0% · Top 25%
Profitability
Return on equity (12 months) 5.1% · Below median
Return on assets 2.1% · Below median
Net margin (12 months) 4.7% · Below median
Operating margin (12 months) 4.8% · Below median
Growth and dividend
Revenue growth (quarter YoY) 76.9% · Top 25%
Balance sheet
Debt / equity 3.78× · Highest 25%

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/E (12 months) 35.8× · Priciest 25%
P/B 3.01× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 2.54× · Priciest 25%
EV/EBITDA 59.6× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 51
FUTURE (revenue growth)100 · sector 38
PAST (return on equity)20 · sector 29
HEALTH (low debt)0 · sector 89
DIVIDEND (yield)0 · sector 46

Context: sector, industry, market

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

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3M Company MMM $185.15 $73.02 −61% vs BNBR
Swire Pacific Limited 0019 HK$112.20 HK$27.75 −75% vs BNBR
Doosan Corporation 000150 638,000 KRW 95,752 KRW −85% vs BNBR

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Bakrie & Brothers Tbk: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Bakrie & Brothers Tbk Fair Value". https://www.fairvalue-calculator.com/stock/BNBR

Frequently asked questions

Is Bakrie & Brothers Tbk (BNBR) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 82.00 IDR versus a price of 40.00 IDR, about +105% upside (undervalued).
What is the fair value of BNBR?
Our model-based fair value for Bakrie & Brothers Tbk is 82.00 IDR (as of Nov 4, 2026), built from audited fundamentals. The current price: 40.00 IDR.
What is the quality score of BNBR?
Bakrie & Brothers Tbk has a Quality Score of 19/100. 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 Bakrie & Brothers Tbk (BNBR)?
Our model-based price target is the fair value of 82.00 IDR (as of Nov 4, 2026) from 3 valuation models. Cautious scenario 38.27 IDR, optimistic scenario 104.14 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Bakrie & Brothers Tbk stock forecast for 2026?
Our models put fair value at 82.00 IDR, about +105% upside versus a price of 40.00 IDR (undervalued). Cautious scenario 38.27 IDR, optimistic scenario 104.14 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Bakrie & Brothers Tbk (BNBR)?
Bakrie & Brothers Tbk reported trailing-twelve-month revenue of about 4.6T IDR (latest available figure, as of Nov 4, 2026).
What is the intrinsic value of Bakrie & Brothers Tbk (BNBR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bakrie & Brothers Tbk it is 82.00 IDR per share (as of Nov 4, 2026), against a price of 40.00 IDR. It is the blended result of 3 valuation models in 3 families (Earnings-Based, Multiples, Economic Profit).
Is Bakrie & Brothers Tbk stock overvalued or undervalued in 2026?
As of Nov 4, 2026, BNBR trades below its calculated fair value: price 40.00 IDR, fair value 82.00 IDR, a gap of about +105% (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 BNBR?
No. The price is what the market pays today (40.00 IDR); the fair value is what the company's own numbers justify (82.00 IDR). For Bakrie & Brothers Tbk the two are 42.00 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Bakrie & Brothers Tbk worth?
The market values Bakrie & Brothers Tbk at about 11.6T IDR (market capitalisation, as of Nov 4, 2026). Per share that is 40.00 IDR; our models calculate a fair value of 82.00 IDR per share.
What do the bullish and bearish scenarios say about BNBR?
Our models span a range for Bakrie & Brothers Tbk: cautious scenario 38.27 IDR, base 82.00 IDR, optimistic 104.14 IDR per share (as of Nov 4, 2026, price 40.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BNBR?
Bakrie & Brothers Tbk trades at a price-to-earnings ratio of 35.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 82.00 IDR is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2019 to 2025), reported earnings: 68.8. Other multiples: P/B 3.0, P/S 2.5, EV/EBITDA 59.6.
How solid is the balance sheet of Bakrie & Brothers Tbk (BNBR)?
Balance-sheet figures for Bakrie & Brothers Tbk (as of Nov 4, 2026): return on equity 5.1%, debt of 3.78 per unit of equity. They feed the Quality Score of 19/100, which measures business quality independently of the share price.
How far is BNBR from its 52-week high?
Bakrie & Brothers Tbk trades at 40.00 IDR, about 85% below its 52-week high of 260.00 IDR and 5% above the low of 38.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 82.00 IDR is for.
Which stocks are comparable to Bakrie & Brothers Tbk?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, Swire Pacific Limited, SGH 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 Bakrie & Brothers Tbk stock attractive at the current price?
The data as of Nov 4, 2026: price 40.00 IDR, calculated fair value 82.00 IDR (+105%), Quality Score 19/100, from 3 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 BNBR calculated?
We run Bakrie & Brothers Tbk through 3 models from 3 families: Earnings-Based, Multiples, Economic Profit. Every model gets the same audited fundamentals; the fair value of 82.00 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. Bakrie & Brothers Tbk currently trades 51% 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 Bakrie & Brothers Tbk (BNBR)?
The closing price on Nov 6, 2026 was 40.00 IDR. Our model-based fair value is 82.00 IDR, about +105% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bakrie & Brothers Tbk right now?
The large discount to fair value meets weak quality (19/100). That raises the risk this is a value trap rather than a bargain. The model range is unusually wide (38.27 IDR to 104.14 IDR). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Bakrie & Brothers Tbk

How large is the market capitalisation of Bakrie & Brothers Tbk (BNBR)?
The market capitalisation of Bakrie & Brothers Tbk is 11.6T IDR (≈ $640M). 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 Bakrie & Brothers Tbk (BNBR)?
The price-to-sales ratio of Bakrie & Brothers Tbk is 1.67 (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 Bakrie & Brothers Tbk (BNBR)?
Earnings per share at Bakrie & Brothers Tbk are 1.23 IDR (price ÷ EPS = P/E 35.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bakrie & Brothers Tbk (BNBR)?
The net margin of Bakrie & Brothers Tbk is 4.7% (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 Bakrie & Brothers Tbk (BNBR)?
The return on equity (ROE) of Bakrie & Brothers Tbk is 5.1% (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 Bakrie & Brothers Tbk (BNBR)?
On an EBIT basis the return on assets of Bakrie & Brothers Tbk is 1.9% (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 Bakrie & Brothers Tbk (BNBR)?
The operating margin of Bakrie & Brothers Tbk is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bakrie & Brothers Tbk (BNBR)?
Revenue at Bakrie & Brothers Tbk is growing +76.9% versus a year earlier (3y avg +1.1%). 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 Bakrie & Brothers Tbk (BNBR)?
Earnings per share at Bakrie & Brothers Tbk are growing −78.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bakrie & Brothers Tbk (BNBR) generate?
The free cash flow of Bakrie & Brothers Tbk is −294B 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 Bakrie & Brothers Tbk (BNBR) carry?
The net debt of Bakrie & Brothers Tbk is 15.8T IDR (fiscal year 2025). 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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