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Bank Of India Indonesia Tbk (BSWD) fair value: what the stock is really worth

As of Sep 21, 2026: fair value of Bank Of India Indonesia Tbk IDR 196, price IDR 1,500, upside -86.9%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Financial Services · ID · ISIN ID1000089709

BO Thin data Sep 24, 2026

Bank Of India Indonesia Tbk

BSWD · JK

Weakest SetupStrongly overvalued and low quality.

!Fair value 196.14 IDR · Strongly overvalued (−87%)
!Quality 37/100
!Expensive Growth (revenue 5y +13.3 %/yr)
✓Highly profitable · 30.4% net margin (TTM)
!negative free cash flow
!Trails peers (3/11)
!Moderate moat 59/100
!Evidence only low, so the estimate is less certain
!Weak on past: 7 out of 100
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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

3,100 IDR 800.00 IDR Fair Value 196.14 IDR Apr 2021 Sep 2026

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 800.00 IDR – 3,100 IDR · fair‑value band 147.10 IDR – 245.17 IDR · the 1,500 IDR price screens above the 196.14 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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Company profile

PT Bank of India Indonesia Tbk provides commercial banking products and services in Jakarta, Surabaya, Bandung, Medan, Bali, and Makassar, Indonesia.

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PT Bank of India Indonesia Tbk provides commercial banking products and services in Jakarta, Surabaya, Bandung, Medan, Bali, and Makassar, Indonesia. It offers various products and services, such as personal and business current accounts, savings accounts, and term deposits; personal and business loans, and investment and working capital credit; ATM and debit cards; and remittance, transfer, tuition payment, same day INR, and safe deposit box services. The company also provides trade and finance services, such as letters of credit, documentary collection, and bill negotiations line; and SKBDN, a payment instrument for national trade through a guarantee of payment to the beneficiary. In addition, it offers mobile and internet banking, and ATM services. The company was formerly known as PT Bank Swadesi Tbk and changed its name to PT Bank of India Indonesia Tbk in December 2011. PT Bank of India Indonesia Tbk was founded in 1968 and is based in Jakarta Pusat, Indonesia. PT Bank of India Indonesia Tbk operates as a subsidiary of Bank of India Limited.

Stock analysis

Bank Of India Indonesia Tbk (BSWD) currently trades at 1,500 IDR, while our model-based Fair Value estimate is 196.14 IDR, implying the stock looks roughly 664.5% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 637.92 IDR per share, and 0 of the 4 models we run sit above the 1,500 IDR price.

Bear case: the Multiples group reads lowest at 170.15 IDR, and 4 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: 147.10 IDR (bear) to 245.17 IDR (bull), the price of 1,500 IDR sits above 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 37/100 (below-average quality), in the Financial Services sector.

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

Bank Of India Indonesia Tbk reported revenue of 446B IDR in FY2025 versus 185B IDR in FY2021, a compound +24.7%/yr. Reported net income was 48.3B IDR in FY2025.

Key figures

Market cap 5.5T IDR (≈ $553M) · P/E ratio 90.4 · P/S ratio 9.78 · EPS (TTM) 16.59 IDR · Net margin 10.8% · Return on equity 1.7% · Return on assets (EBIT) 0.5% · Operating margin 54.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 88% 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 −87%, BSWD screens richer than that median.

Fair Value models

Bear 147.10 IDR Fair Value 196.14 IDR Bull 245.17 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 (12.14 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.
Highest evidence
Residual Income 617.42 IDR 563.63 IDR 387.93 IDR 71
P/E Multiple 127.61 IDR 170.15 IDR 212.69 IDR 63
P/B Multiple 166.88 IDR 222.51 IDR 278.13 IDR 55
All 4 models by family
Multiples
P/E Multiple 127.61 IDR 170.15 IDR 212.69 IDR 63
P/B Multiple 166.88 IDR 222.51 IDR 278.13 IDR 55
Asset-Based
NCAV (Graham) 476.06 IDR 637.92 IDR 952.12 IDR 51
Economic Profit
Residual Income 617.42 IDR 563.63 IDR 387.93 IDR 71

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Quality Score breakdown

Overall quality 37/100

Of which business quality 34 · Market factors (momentum, volatility) 62

Profitability 20
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 40
Share count: buybacks or dilution?

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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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+2.8%
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.
+26.9%
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.
+13.3%
Start year 2020 (pandemic). Over 10 years: −2.2% 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.
+9.1%
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.
−2.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.8%
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.−3% vs −17%, picking up
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.8% → 14%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 10.9%/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.

BSWD screens 665% overvalued. Compare with DBS Group →

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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 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −87% · Bottom 25%
Profitability
Return on equity (TTM) 2% · Bottom 25%
Return on assets 1% · Below median
Net margin (TTM) 30% · Above median
Operating margin (TTM) 55% · Top 25%
Growth and dividend
Revenue growth 34% · Top 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 90.4× · Priciest 25%
P/B 1.58× · Priciest 25%
P/S (TTM) 27.48× · Priciest 25%
EV/EBITDA 62.0× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 11
FUTURE (revenue growth)100 · sector 45
PAST (return on equity)7 · sector 41
HEALTH (low debt)0 · sector 85
DIVIDEND (yield)0 · sector 53

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
DBS Group D05 77.69 SGD 40.48 SGD −48%
China Merchants Bank Co 3968 HK$51.25 HK$62.30 +22%
Intesa Sanpaolo S.p.A ISP €6.73 €4.04 −40%
HDFC Bank Limited HDFCBANK ₹737.25 ₹406.85 −45%
BNP Paribas SA BNP €101.30 €105.99 +5%
UniCredit S.p.A UCG €83.28 €77.62 −7%
Mizuho Financial Group MFG $10.87 $6.75 −38%
ICICI Bank Limited ICICIBANK ₹1,340 ₹616.16 −54%
The PNC Financial Services Group PNC $227.96 $159.52 −30%
Oversea-Chinese Banking Corporation O39 32.14 SGD 19.80 SGD −38%

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Bank Of India Indonesia Tbk · Fair Value
196.14 IDR −665%Fair Value
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Cite: Fair Value Calculator (2026). "Bank Of India Indonesia Tbk Fair Value". https://www.fairvalue-calculator.com/stock/BSWD

Frequently asked questions

Is Bank Of India Indonesia Tbk (BSWD) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 196.14 IDR versus a price of 1,500 IDR, about −87% upside (overvalued).
What is the fair value of BSWD?
Our model-based fair value for Bank Of India Indonesia Tbk is 196.14 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,500 IDR.
What is the quality score of BSWD?
Bank Of India Indonesia Tbk has a Quality Score of 37/100. 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 Of India Indonesia Tbk (BSWD)?
Our model-based price target is the fair value of 196.14 IDR (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 147.10 IDR, optimistic scenario 245.17 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Bank Of India Indonesia Tbk stock forecast for 2026?
Our models put fair value at 196.14 IDR, about −87% upside versus a price of 1,500 IDR (overvalued). Cautious scenario 147.10 IDR, optimistic scenario 245.17 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Bank Of India Indonesia Tbk (BSWD)?
Bank Of India Indonesia Tbk reported trailing-twelve-month revenue of about 201B IDR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Bank Of India Indonesia Tbk (BSWD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bank Of India Indonesia Tbk it is 196.14 IDR per share (as of Sep 24, 2026), against a price of 1,500 IDR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Bank Of India Indonesia Tbk stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BSWD trades above its calculated fair value: price 1,500 IDR, fair value 196.14 IDR, a gap of about −87% (overvalued). 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 BSWD?
No. The price is what the market pays today (1,500 IDR); the fair value is what the company's own numbers justify (196.14 IDR). For Bank Of India Indonesia Tbk the two are 1,304 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Bank Of India Indonesia Tbk worth?
The market values Bank Of India Indonesia Tbk at about 5.5T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 1,500 IDR; our models calculate a fair value of 196.14 IDR per share.
What do the bullish and bearish scenarios say about BSWD?
Our models span a range for Bank Of India Indonesia Tbk: cautious scenario 147.10 IDR, base 196.14 IDR, optimistic 245.17 IDR per share (as of Sep 24, 2026, price 1,500 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BSWD?
Bank Of India Indonesia Tbk trades at a price-to-earnings ratio of 90.4 (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 196.14 IDR is built from several models across several years. Other multiples: P/B 1.6, P/S 27.5, EV/EBITDA 62.0.
How solid is the balance sheet of Bank Of India Indonesia Tbk (BSWD)?
Balance-sheet figures for Bank Of India Indonesia Tbk (as of Sep 24, 2026): return on equity 1.7%. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is BSWD from its 52-week high?
Bank Of India Indonesia Tbk trades at 1,500 IDR, at its 52-week high of 1,500 IDR and 88% above the low of 800.00 IDR (as of Sep 21, 2026). Distance from the high says nothing about value: that is what the fair value of 196.14 IDR is for.
Which stocks are comparable to Bank Of India Indonesia 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 Of India Indonesia Tbk stock attractive at the current price?
The data as of Sep 24, 2026: price 1,500 IDR, calculated fair value 196.14 IDR (−87%), Quality Score 37/100, 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 BSWD calculated?
We run Bank Of India Indonesia 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 196.14 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 Of India Indonesia Tbk itself currently trades above fair value. 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 Of India Indonesia Tbk (BSWD)?
The closing price on Sep 21, 2026 was 1,500 IDR. Our model-based fair value is 196.14 IDR, about −87% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bank Of India Indonesia Tbk right now?
The price sits above even our optimistic bull case (245.17 IDR). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Bank Of India Indonesia Tbk

How large is the market capitalisation of Bank Of India Indonesia Tbk (BSWD)?
The market capitalisation of Bank Of India Indonesia Tbk is 5.5T IDR (≈ $553M). 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 Of India Indonesia Tbk (BSWD)?
The price-to-sales ratio of Bank Of India Indonesia Tbk is 9.78 (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 Of India Indonesia Tbk (BSWD)?
Earnings per share at Bank Of India Indonesia Tbk are 16.59 IDR (price ÷ EPS = P/E 90.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bank Of India Indonesia Tbk (BSWD)?
The net margin of Bank Of India Indonesia Tbk is 10.8% (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 Of India Indonesia Tbk (BSWD)?
The return on equity (ROE) of Bank Of India Indonesia Tbk is 1.7% (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 Of India Indonesia Tbk (BSWD)?
On an EBIT basis the return on assets of Bank Of India Indonesia Tbk is 0.5% (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 Of India Indonesia Tbk (BSWD)?
The operating margin of Bank Of India Indonesia Tbk is 54.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bank Of India Indonesia Tbk (BSWD)?
Revenue at Bank Of India Indonesia Tbk is growing +34.4% versus a year earlier (3y avg +26.9%). 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 Of India Indonesia Tbk (BSWD)?
Earnings per share at Bank Of India Indonesia Tbk are growing +98.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bank Of India Indonesia Tbk (BSWD) generate?
The free cash flow of Bank Of India Indonesia Tbk is −35.5B 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 cash does Bank Of India Indonesia Tbk (BSWD) hold?
Bank Of India Indonesia Tbk holds more cash than debt, 1.0T IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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