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PT Paninvest Tbk (PNIN) Fair Value & Analysis

Financial Services · ID · Market cap 3.0T IDR

PP PT Paninvest Tbk PNIN · JK
Price715.00 IDR
Fair Value1,440 IDR
Upside+101.4%
Quality42/100
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Expensive Growth
Solidly profitable · 11.2% net margin
Low debt · negative free cash flow
Ranks above peers (9/11)
Moderate moat 56/100
Evidence: Medium Range 1,080 IDR – 1,800 IDR Share as image

Fair value as of: Jul 13, 2026

From 6 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 1,490 IDR to 1,440 IDR (−3.4%) since Jun 26, 2026. Share price −2.1% over the past month.

Below-average quality, screening 101% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (1,080 IDR). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

2,150 IDR 650.00 IDR Fair Value 1,440 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 650.00 IDR – 2,150 IDR · fair‑value band 1,080 IDR – 1,800 IDR · the 715.00 IDR price screens below the 1,440 IDR fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

PT Paninvest Tbk (PNIN) currently trades at 715.00 IDR, while our model-based Fair Value estimate is 1,440 IDR, implying the stock looks roughly 101.4% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PT Paninvest Tbk generated revenue of 10.7T IDR at a net margin of 11.2%. Revenue grew 15.5% year over year. It earns a return on equity of 5.4%. The balance sheet holds a net cash position of 12.6T IDR. Fundamentals as of Jul 13, 2026

Our scenario range runs from 1,080 IDR (bear case) to 1,800 IDR (bull case); at 715.00 IDR, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 1% fair-value upside, at 101%, PNIN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Residual Income 4,215 IDR 4,258 IDR 4,003 IDR 76
Gordon GGM 1,482 IDR 3,236 IDR 5,444 IDR 70
P/E Multiple 2,245 IDR 2,993 IDR 3,741 IDR 63
All 6 models by family
Dividend Discount
Gordon GGM 1,482 IDR 3,236 IDR 5,444 IDR 70
DDM Multi-Stage 1,482 IDR 2,651 IDR 3,372 IDR 61
Multiples
P/E Multiple 2,245 IDR 2,993 IDR 3,741 IDR 63
P/B Multiple 2,936 IDR 3,914 IDR 4,893 IDR 55
Asset-Based
NCAV (Graham) 2,749 IDR 3,683 IDR 5,497 IDR 50
Economic Profit
Residual Income 4,215 IDR 4,258 IDR 4,003 IDR 76

Widest divergence: Economic Profit (4,258 IDR) versus Dividend Discount (2,651 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 10.7T IDR
Revenue growth (YoY) +15.5%
Net margin 11.2%
Return on equity 5.4%
Free cash flow −101B IDR FY2025
P/E ratio 2.2
More key figures
Operating margin 47.0%
EPS (TTM) 295.75 IDR
EPS growth (YoY) +123%
Net cash 12.6T IDR FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 36 · Market factors (momentum, volatility) 41

Profitability 21
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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.

About the company

PT Paninvest Tbk provides banking and multi financing products and services in Indonesia. It operates through Life Insurance and Business Consulting Service; Banking and Multi-Finance; Trade and Services; and Tourist segments.

Full company description

PT Paninvest Tbk provides banking and multi financing products and services in Indonesia. It operates through Life Insurance and Business Consulting Service; Banking and Multi-Finance; Trade and Services; and Tourist segments. The company offers Sharia banking products and services; financing and mutual funds services; and death, whole life, annuity, endowment, endowment combine, universal life, unit-linked, personal accident, and health insurance products. It also provides business consulting, management, and general administration services; trading and services; and management consulting services in the field of archives. The company was formerly known as Pt Panin Insurance Tbk and changed its name to PT Paninvest Tbk in May 2014. PT Paninvest Tbk was founded in 1973 and is headquartered in Jakarta, Indonesia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Paninvest Tbk reported revenue of 9.5T IDR in FY2025 versus 2.9T IDR in FY2021, a compound +35.0%/yr. Reported net income was 937B IDR in FY2025, compounding +3.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
9.5T IDR
Avg. growth/yr (3Y) 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.
+59.2%
Avg. growth/yr (5Y) 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.
+19.8%
Avg. growth/yr (24Y) 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.
+19.6%
Revenue +35.0%/yr
FY21 2.9T IDR
FY22 11.4T IDR
FY23 10.5T IDR
FY24 11.5T IDR
FY25 9.5T IDR
Net income +3.4%/yr
FY21 819B IDR
FY22 1.9T IDR
FY23 889B IDR
FY24 1.4T IDR
FY25 937B IDR
Character of growth · EPS growth decomposed (2014-2025) +0.3 % p.a.
Revenue per share +8.5 pp

of which total revenue +8.5 pp · buybacks/dilution +0.0 pp

EBIT margin +2.3 pp
Tax rate −6.4 pp
Residual (interest, one-offs) −4.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "PT Paninvest Tbk Fair Value". https://www.fairvalue-calculator.com/stock/PNIN

Peer Group

Insurance - Life · 95 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.

Quality Score 42 · Bottom 25%
Fair Value upside +101% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 2% · Above median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 47% · Top 25%
Revenue growth 16% · Above median
Debt / equity 0.17× · Lower than median

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 2.5× · Cheaper than 75% of peers
P/B 0.13× · Cheaper than 75% of peers
P/S (TTM) 0.28× · Cheaper than 75% of peers

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.

VALUE 100 · sector 32
FUTURE 78 · sector 44
PAST 22 · sector 43
HEALTH 91 · sector 84
DIVIDEND 0 · sector 55

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥38.72 ¥70.87 +83%
Ping An Insurance (Group) Company 601318 ¥49.60 ¥96.76 +95%
AIA Group 1299 HK$75.55 HK$7.88 -90%
Manulife Financial Corporation MFC C$58.52 C$45.13 -23%
Great-West Lifeco Inc GWO C$92.34 C$59.64 -35%
Life Insurance Corporation LICI ₹438.30 ₹590.43 +35%
Fubon Financial Holding 2881 124.50 TWD 115.05 TWD -8%
Cathay Financial Holding 2882 94.00 TWD 94.95 TWD +1%
Samsung Life Insurance Co 032830 337,500 KRW 166,710 KRW -51%
China Pacific Insurance (Group) Co 601601 ¥29.75 ¥59.50 +100%

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Frequently asked questions

Is PT Paninvest Tbk (PNIN) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 1,440 IDR versus a price of 715.00 IDR, about +101% (undervalued).
What is the fair value of PNIN?
Our model-based fair value for PT Paninvest Tbk is 1,440 IDR (as of Jul 13, 2026), built from audited fundamentals. The current price is 715.00 IDR.
What is the quality score of PNIN?
PT Paninvest Tbk has a Quality Score of 42/100. 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 revenue of PT Paninvest Tbk (PNIN)?
PT Paninvest Tbk reported trailing-twelve-month revenue of about 10.7T IDR (latest available figure, as of Jul 13, 2026).
What is the net profit margin of PNIN?
The net profit margin of PT Paninvest Tbk is about 11.2%, meaning it keeps roughly 11.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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