` Comparison: PNBN vs ABSP - Alpha Spread

PNBN
vs
A
ABSP

Over the past 12 months, PNBN has underperformed ABSP, delivering a return of -27% compared to the ABSP's +16% growth.

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PNBN
ABSP
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Valuation Comparison

PNBN Intrinsic Value
824.75 IDR
Overvaluation 16%
Intrinsic Value
Price
A
ABSP Intrinsic Value
Not Available
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Bank Pan Indonesia Tbk PT
IDX:PNBN
985 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
PNBN, ABSP

PNBN
ABSP
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Revenue
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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 Pan Indonesia 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
PNBN, ABSP

PNBN
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 Pan Indonesia Tbk PT
IDX:PNBN
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

PNBN
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Pan Indonesia Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

Operating Margin

PNBN
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Pan Indonesia Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

Net Margin

PNBN
24.4%
ABSP
16.9%

FCF Margin

PNBN
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Pan Indonesia Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

ROE

PNBN
5.1%
ABSP
11.1%

ROA

PNBN
1.1%
ABSP
0.8%

ROIC

PNBN
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Pan Indonesia Tbk PT
Not applicable for financial companies
A
Absa Bank Ltd
Not applicable for financial companies

ROCE

PNBN
ABSP
LTM 3Y Avg 5Y Avg 10Y Avg
Bank Pan Indonesia 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
PNBN, ABSP

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Performance Gap
PNBN, ABSP

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PNBN
ABSP
Difference
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Performance By Year
PNBN, ABSP

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PNBN
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