` Comparison: BNLI vs ABSP - Alpha Spread

BNLI
vs
A
ABSP

Over the past 12 months, BNLI has significantly outperformed ABSP, delivering a return of +72% compared to the ABSP's +16% growth.

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BNLI
ABSP
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Valuation Comparison

BNLI Intrinsic Value
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ABSP Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Bank Permata Tbk PT
IDX:BNLI
3 960 IDR
A
Absa Bank Ltd
JSE:ABSP
95 800 Zac
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
BNLI, ABSP

BNLI
ABSP
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Revenue
www.alphaspread.com
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Bank Permata Tbk PT
Revenue
A
Absa Bank Ltd
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
BNLI, ABSP

BNLI
ABSP
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Bank Permata Tbk PT
IDX:BNLI
FCF is not applicable for financial companies
A
Absa Bank Ltd
JSE:ABSP
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

BNLI
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

Operating Margin

BNLI
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

Net Margin

BNLI
28.2%
ABSP
16.9%
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
A
Absa Bank Ltd

FCF Margin

BNLI
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

ROE

BNLI
8.1%
ABSP
11.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
A
Absa Bank Ltd

ROA

BNLI
1.4%
ABSP
0.8%
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
A
Absa Bank Ltd

ROIC

BNLI
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

ROCE

BNLI
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Permata Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
BNLI, ABSP

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Performance Gap
BNLI, ABSP

Performance Gap Between BNLI and ABSP
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Performance By Year
BNLI, ABSP

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BNLI
ABSP
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett