Bank Victoria International (BVIC) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Bank Victoria International IDR 91, price IDR 92, upside -1.1%, quality 43 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 64.00 IDR – 258.00 IDR · fair‑value band 68.28 IDR – 113.80 IDR · the 92.00 IDR price screens above the 91.04 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 Victoria International Tbk provides banking products and services in Indonesia. The company offers various savings accounts; foreign exchange, rupiah, and online deposits; time deposits; bancassurance products and mutual funds; and investment products.
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PT Bank Victoria International Tbk provides banking products and services in Indonesia. The company offers various savings accounts; foreign exchange, rupiah, and online deposits; time deposits; bancassurance products and mutual funds; and investment products. It also provides loan products, such as home and car ownership loan, multi-purpose credit, and implant banking credit; corporate and commercial lending, small medium enterprise lending, and multi finance lending services; working capital loans; investment credit; bank guarantees; and domestic documentary letter of credit. In addition, the company offers internet and mobile banking services; Sharia banking services; and banknotes and foreign currency transactions. PT Bank Victoria International Tbk was incorporated in 1992 and is headquartered in Jakarta Selatan, Indonesia. PT Bank Victoria International Tbk is a subsidiary of PT Victoria Investama Tbk.
Stock analysis
Bank Victoria International (BVIC) currently trades at 92.00 IDR, while our model-based Fair Value estimate is 91.04 IDR, implying the stock looks roughly 1.1% fairly valued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 158.92 IDR per share, and 4 of the 4 models we run sit above the 92.00 IDR price.
Bear case: the Multiples group reads lowest at 92.98 IDR, and 0 of the 4 models stay below the price. Evidence for this calculation is low.
Scenario range: 68.28 IDR (bear) to 113.80 IDR (bull), the price of 92.00 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 43/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bank Victoria International reported revenue of 2.6T IDR in FY2025 versus 1.7T IDR in FY2021, a compound +10.4%/yr. Reported net income was 132B IDR in FY2025.
Key figures
Market cap 1.7T IDR (≈ $94.7M) · P/E ratio 13.1 · P/S ratio 0.67 · EPS (TTM) 7.03 IDR · Net margin 5.1% · Return on equity 3.3% · Return on assets (EBIT) 0.4% · Operating margin 27.8%.
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 about 44% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −1%, BVIC screens cheaper than that median.
Fair Value models
Bear 68.28 IDRFair Value 91.04 IDRBull 113.80 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 (5.16 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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+23.0%
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.
+14.2%
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.
+4.0%
Start year 2020 (pandemic). Over 10 years: +1.5% 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.
+14.5%
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What shareholders gained per year (last 3 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 3 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.
−17.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.6%
Dividend (yield on the price)0.0%
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.−14% → 6%
⚠ Revenue per share shrinking 7.1%/yr over ~10Y (margins intact) ⓘ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.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−3.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −6.2% a year for the price.
Compare Bank Victoria International 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 · 1076 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside−1% · Above median
Profitability
Return on equity (TTM)3% · Bottom 25%
Return on assets0% · Bottom 25%
Net margin (TTM)17% · Bottom 25%
Operating margin (TTM)28% · Below median
Growth and dividend
Revenue growth−4% · Bottom 25%
Balance sheet
Debt / equity0.90× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Bank Victoria International Fair Value". https://www.fairvalue-calculator.com/stock/BVIC
Frequently asked questions
Is Bank Victoria International (BVIC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 91.04 IDR versus a price of 92.00 IDR, about −1% upside (fairly valued).
What is the fair value of BVIC?
Our model-based fair value for Bank Victoria International is 91.04 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 92.00 IDR.
What is the quality score of BVIC?
Bank Victoria International has a Quality Score of 43/100. 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 Victoria International (BVIC)?
Our model-based price target is the fair value of 91.04 IDR (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 68.28 IDR, optimistic scenario 113.80 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Bank Victoria International stock forecast for 2026?
Our models put fair value at 91.04 IDR, about −1% upside versus a price of 92.00 IDR (fairly valued). Cautious scenario 68.28 IDR, optimistic scenario 113.80 IDR. The calculation is refreshed regularly with new filings.
What growth is priced into Bank Victoria International (BVIC)?
For today's price to be fair in a discounted-cash-flow model, Bank Victoria International would have to grow free cash flow by -3.7 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BVIC use?
Our models discount Bank Victoria International at 13.5 %: a base by market capitalisation (micro), damped by beta 0.26, 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 Victoria International that is -3.7 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has Bank Victoria International (BVIC) delivered so far?
Over the past 5 years revenue at Bank Victoria International grew +4.0 % a year. The price currently implies -3.7 % 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 Victoria International (BVIC) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into Bank Victoria International (-3.7 % 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 Victoria International (BVIC)?
The free-cash-flow yield on the price is 40.99 %: that much free cash flow Bank Victoria International produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), 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 Victoria International (BVIC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bank Victoria International it is 91.04 IDR per share (as of Sep 24, 2026), against a price of 92.00 IDR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Bank Victoria International stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BVIC trades above its calculated fair value: price 92.00 IDR, fair value 91.04 IDR, a gap of about −1% (fairly valued). 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 BVIC?
No. The price is what the market pays today (92.00 IDR); the fair value is what the company's own numbers justify (91.04 IDR). For Bank Victoria International the two are 0.9650 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Bank Victoria International worth?
The market values Bank Victoria International at about 1.7T IDR (market capitalisation, as of Sep 24, 2026). Per share that is 92.00 IDR; our models calculate a fair value of 91.04 IDR per share.
What do the bullish and bearish scenarios say about BVIC?
Our models span a range for Bank Victoria International: cautious scenario 68.28 IDR, base 91.04 IDR, optimistic 113.80 IDR per share (as of Sep 24, 2026, price 92.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BVIC?
Bank Victoria International trades at a price-to-earnings ratio of 13.1 (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 91.04 IDR is built from several models across several years. Other multiples: P/B 0.4, P/S 2.2, EV/EBITDA 22.8.
How solid is the balance sheet of Bank Victoria International (BVIC)?
Balance-sheet figures for Bank Victoria International (as of Sep 24, 2026): return on equity 3.3%, debt of 0.90 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is BVIC from its 52-week high?
Bank Victoria International trades at 92.00 IDR, about 44% below its 52-week high of 163.00 IDR and 28% above the low of 72.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 91.04 IDR is for.
Which stocks are comparable to Bank Victoria International?
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 Victoria International stock attractive at the current price?
The data as of Sep 24, 2026: price 92.00 IDR, calculated fair value 91.04 IDR (−1%), Quality Score 43/100, 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 BVIC calculated?
We run Bank Victoria International 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 91.04 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 13.0 % above its aggregate fair value. Bank Victoria International 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 Victoria International (BVIC)?
The closing price on Sep 24, 2026 was 92.00 IDR. Our model-based fair value is 91.04 IDR, about −1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bank Victoria International right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 Victoria International (BVIC) come from?
Earnings per share at Bank Victoria International grew −6.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share −8.6 %, EBIT margin +4.5 %, tax rate −2.2 %, residual (interest, one-offs) +0.0 %. 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 Victoria International
How large is the market capitalisation of Bank Victoria International (BVIC)?
The market capitalisation of Bank Victoria International is 1.7T IDR (≈ $94.7M). 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 Victoria International (BVIC)?
The price-to-sales ratio of Bank Victoria International is 0.67 (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 Victoria International (BVIC)?
Earnings per share at Bank Victoria International are 7.03 IDR (price ÷ EPS = P/E 13.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bank Victoria International (BVIC)?
The net margin of Bank Victoria International is 5.1% (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 Victoria International (BVIC)?
The return on equity (ROE) of Bank Victoria International is 3.3% (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 Victoria International (BVIC)?
On an EBIT basis the return on assets of Bank Victoria International is 0.4% (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 Victoria International (BVIC)?
The operating margin of Bank Victoria International is 27.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bank Victoria International (BVIC)?
Revenue at Bank Victoria International is growing −3.6% versus a year earlier (3y avg +14.2%). 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 Victoria International (BVIC)?
Earnings per share at Bank Victoria International are growing −5.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bank Victoria International (BVIC) carry?
The net debt of Bank Victoria International is 5.9T IDR (fiscal year 2025, ≈ 8.6 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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