Reliance Securities Tbk (RELI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Reliance Securities Tbk stock IDR 166, price IDR 478, that is 65.4% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 271.06 IDR – 930.00 IDR · fair‑value band 124.12 IDR – 202.27 IDR · the 478.00 IDR price screens above the 165.50 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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PT Reliance Sekuritas Indonesia Tbk provides securities brokerage and underwriting services in Indonesia. The company also engages in the investment management business. PT Reliance Sekuritas Indonesia Tbk was incorporated in 1993 and is headquartered in Jakarta Barat, Indonesia.
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PT Reliance Sekuritas Indonesia Tbk is a subsidiary of PT Reliance Capital Management.
Stock analysis
Reliance Securities Tbk (RELI) currently trades at 478.00 IDR, while our model-based Fair Value estimate is 165.50 IDR, 65% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 288.66 IDR per share, and 0 of the 7 models we run sit above the 478.00 IDR price.
Bear case: the DCF Models group reads lowest at 123.03 IDR, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: 124.12 IDR (bear) to 202.27 IDR (bull), the price of 478.00 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 57/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Reliance Securities Tbk reported revenue of 65.9B IDR in FY2025 versus 63.7B IDR in FY2021, a compound +0.9%/yr. Reported net income was 22.9B IDR in FY2025, compounding +2.0%/yr from FY2021.
Key figures
Market cap 860B IDR (≈ $47.8M) Micro · P/E ratio 41.0 · P/S ratio 14.9 · EPS (TTM) 11.65 IDR · Net margin 36.5% · Return on equity 3.6% · Return on assets (EBIT) 3.8% (5-year average) · Operating margin −1.3%.
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 26% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −65%, RELI screens richer than that median.
Fair Value models
Bear124.12 IDRFair Value 165.50 IDRBull202.27 IDR
Price 478.00 IDR · Downside -65.4%
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 (9.99 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.
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
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+20.5%
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.
−3.5%
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.
+8.4%
Start year 2020 (pandemic). Over 10 years: −3.9% a year
Revenue growth 21 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.
+2.8%
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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. Basis: EBIT basis. 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.
+13.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.7%
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.−4.0% vs −2.9%, steady
Profit margin 2019 to 2024 ⓘ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.−41% → 37%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 6.1%/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.
Compare Reliance Securities Tbk with another stock
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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.Capital Markets · 384 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−65.4% · Bottom 25%
Profitability
Return on equity (12 months)3.6% · Bottom 25%
Return on assets3.1% · Above median
Net margin (12 months)36.5% · Above median
Operating margin (12 months)−1.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)1.8% · Below median
Balance sheet
Debt / equity0.19× · Above median
Valuation Multiplesvs Capital Markets median · lower = cheaper
P/E (12 months)41.0× · Priciest 25%
P/B1.62× · Pricier than median
P/S (12 months)14.89× · Priciest 25%
EV/EBITDA35.5× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)9· sector 68
PAST (return on equity)15· sector 38
HEALTH (low debt)90· sector 94
DIVIDEND (yield)0· sector 47
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Reliance Securities Tbk (RELI) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 165.50 IDR versus a price of 478.00 IDR, about 65% lower (overvalued).
What is the fair value of RELI?
Our model-based fair value for Reliance Securities Tbk is 165.50 IDR (as of Nov 7, 2026), built from audited fundamentals. The current price: 478.00 IDR.
What is the quality score of RELI?
Reliance Securities Tbk has a Quality Score of 57/100. 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 Reliance Securities Tbk (RELI)?
Our model-based price target is the fair value of 165.50 IDR (as of Nov 7, 2026) from 7 valuation models. Cautious scenario 124.12 IDR, optimistic scenario 202.27 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Reliance Securities Tbk stock forecast for 2026?
Our models put fair value at 165.50 IDR, about 65% lower versus a price of 478.00 IDR (overvalued). Cautious scenario 124.12 IDR, optimistic scenario 202.27 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Reliance Securities Tbk (RELI)?
Reliance Securities Tbk reported trailing-twelve-month revenue of about 57.8B IDR (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Reliance Securities Tbk (RELI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Reliance Securities Tbk it is 165.50 IDR per share (as of Nov 7, 2026), against a price of 478.00 IDR. It is the blended result of 7 valuation models in 5 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit).
Is Reliance Securities Tbk stock overvalued or undervalued in 2026?
As of Nov 7, 2026, RELI trades above its calculated fair value: price 478.00 IDR, fair value 165.50 IDR, a gap of about −65% (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 RELI?
No. The price is what the market pays today (478.00 IDR); the fair value is what the company's own numbers justify (165.50 IDR). For Reliance Securities Tbk the two are 312.50 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Reliance Securities Tbk worth?
The market values Reliance Securities Tbk at about 860B IDR (market capitalisation, as of Nov 7, 2026). Per share that is 478.00 IDR; our models calculate a fair value of 165.50 IDR per share.
What do the bullish and bearish scenarios say about RELI?
Our models span a range for Reliance Securities Tbk: cautious scenario 124.12 IDR, base 165.50 IDR, optimistic 202.27 IDR per share (as of Nov 7, 2026, price 478.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RELI?
Reliance Securities Tbk trades at a price-to-earnings ratio of 41.0 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 165.50 IDR is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 35.6. Other multiples: P/B 1.6, P/S 14.9, EV/EBITDA 35.5.
How solid is the balance sheet of Reliance Securities Tbk (RELI)?
Balance-sheet figures for Reliance Securities Tbk (as of Nov 7, 2026): return on equity 3.6%, debt of 0.19 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is RELI from its 52-week high?
Reliance Securities Tbk trades at 478.00 IDR, about 26% below its 52-week high of 650.00 IDR and 5% above the low of 456.00 IDR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 165.50 IDR is for.
Which stocks are comparable to Reliance Securities Tbk?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Reliance Securities Tbk stock attractive at the current price?
The data as of Nov 7, 2026: price 478.00 IDR, calculated fair value 165.50 IDR (−65%), Quality Score 57/100, from 7 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 RELI calculated?
We run Reliance Securities Tbk through 7 models from 5 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 165.50 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 13.3% above its aggregate fair value. Reliance Securities 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 Reliance Securities Tbk (RELI)?
The closing price on Nov 6, 2026 was 478.00 IDR. Our model-based fair value is 165.50 IDR, about 65% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Reliance Securities Tbk right now?
The price sits above even our optimistic bull case (202.27 IDR). The favourable scenario is already priced in. 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 but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Reliance Securities Tbk
How large is the market capitalisation of Reliance Securities Tbk (RELI)?
The market capitalisation of Reliance Securities Tbk is 860B IDR (≈ $47.8M). 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 Reliance Securities Tbk (RELI)?
The price-to-sales ratio of Reliance Securities Tbk is 14.9 (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 Reliance Securities Tbk (RELI)?
Earnings per share at Reliance Securities Tbk are 11.65 IDR (price ÷ EPS = P/E 41.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Reliance Securities Tbk (RELI)?
The net margin of Reliance Securities Tbk is 36.5% (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 Reliance Securities Tbk (RELI)?
The return on equity (ROE) of Reliance Securities Tbk is 3.6% (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 Reliance Securities Tbk (RELI)?
On an EBIT basis the return on assets of Reliance Securities Tbk is 3.8% (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 Reliance Securities Tbk (RELI)?
The operating margin of Reliance Securities Tbk is −1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Reliance Securities Tbk (RELI)?
Revenue at Reliance Securities Tbk is growing +1.8% versus a year earlier (3y avg −3.5%). 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 Reliance Securities Tbk (RELI)?
Earnings per share at Reliance Securities Tbk are growing −19.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Reliance Securities Tbk (RELI) generate?
The free cash flow of Reliance Securities Tbk is −25.4B 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 Reliance Securities Tbk (RELI) hold?
Reliance Securities Tbk holds more cash than debt, 136B IDR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026