PT Bank Maybank Indonesia Tbk (ISX:BNII) Cyclically Adjusted Book per Share: Rp404.10 (As of Jun. 2026)

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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ISX:BNII PT Bank Maybank Indonesia Tbk ISX:BNII
58 GF Score
Price Rp194.00
GF Value Rp224.44
Valuation Modestly Undervalued
! 2 Warning Signs
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What is PT Bank Maybank Indonesia Tbk Cyclically Adjusted Book per Share?

PT Bank Maybank Indonesia Tbk ISX:BNII +0.52% 58 Cyclically Adjusted Book per Share is Rp404.10 as of Jun. 2026. GuruFocus rates ISX:BNII with a GF Score™ of 58/100 and a GF Value™ of Rp224.44 (Modestly Undervalued). The stock has 2 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

PT Bank Maybank Indonesia Tbk's adjusted book value per share for the three months ended in Jun. 2026 was Rp414.870. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is Rp404.10 for the trailing ten years ended in Jun. 2026.

During the past 12 months, PT Bank Maybank Indonesia Tbk's average Cyclically Adjusted Book Growth Rate was 6.00% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 5.80% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 6.80% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of PT Bank Maybank Indonesia Tbk was 8.10% per year. The lowest was 5.80% per year. And the median was 7.30% per year.

As of today (2026-08-13), PT Bank Maybank Indonesia Tbk's current stock price is Rp194.00. PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was Rp404.10. PT Bank Maybank Indonesia Tbk's Cyclically Adjusted PB Ratio of today is 0.48.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of PT Bank Maybank Indonesia Tbk was 1.53. The lowest was 0.46. And the median was 0.72.


PT Bank Maybank Indonesia Tbk  (ISX:BNII) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

PT Bank Maybank Indonesia Tbk's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=194.00/404.10
=0.48

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of PT Bank Maybank Indonesia Tbk was 1.53. The lowest was 0.46. And the median was 0.72.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


PT Bank Maybank Indonesia Tbk Cyclically Adjusted Book per Share Related Terms


PT Bank Maybank Indonesia Tbk Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Book per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

PT Bank Maybank Indonesia Tbk Cyclically Adjusted Book per Share Chart

PT Bank Maybank Indonesia Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 300.26 331.93 353.52 370.33 393.44

PT Bank Maybank Indonesia Tbk Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 381.34 386.15 393.44 399.12 404.10

PT Bank Maybank Indonesia Tbk Cyclically Adjusted Book per Share Competitor Comparison

For the Banks - Regional subindustry, PT Bank Maybank Indonesia Tbk's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


PT Bank Maybank Indonesia Tbk Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, PT Bank Maybank Indonesia Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PT Bank Maybank Indonesia Tbk's Cyclically Adjusted PB Ratio falls into.


ISX:BNII
58GF Score
PT Bank Maybank Indonesia Tbk ISX:BNII
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Bank Maybank Indonesia Tbk Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, PT Bank Maybank Indonesia Tbk's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book= Book Value per Share /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=414.87/137.6954*137.6954
=414.870

Current CPI (Jun. 2026) = 137.6954.

PT Bank Maybank Indonesia Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201609 268.924 104.142 355.567
201612 279.186 105.222 365.348
201703 280.646 106.476 362.933
201706 288.213 107.722 368.409
201709 294.633 108.020 375.574
201712 300.438 109.017 379.473
201803 306.971 110.097 383.922
201806 300.565 111.085 372.566
201809 308.202 111.135 381.862
201812 324.315 112.430 397.196
201903 323.680 112.829 395.018
201906 329.483 114.730 395.435
201909 334.076 114.905 400.338
201912 344.412 115.486 410.647
202003 331.291 116.252 392.399
202006 339.418 116.630 400.723
202009 344.543 116.397 407.589
202012 353.684 117.318 415.116
202103 351.079 117.840 410.235
202106 354.139 118.184 412.605
202109 361.895 118.262 421.364
202112 373.400 119.516 430.197
202203 367.696 120.948 418.609
202206 368.205 123.322 411.119
202209 372.066 125.298 408.878
202212 381.197 126.098 416.257
202303 381.157 126.953 413.411
202306 387.708 127.663 418.176
202309 387.469 128.151 416.326
202312 397.012 129.395 422.480
202403 393.051 130.607 414.383
202406 385.448 130.792 405.794
202409 395.856 130.361 418.128
202412 401.585 131.432 420.724
202503 405.838 131.948 423.514
202506 406.013 133.241 419.588
202509 416.611 133.819 428.679
202512 425.812 135.271 433.443
202603 421.380 136.539 424.950
202606 414.870 137.695 414.870

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

What does a Cyclically Adjusted Book per Share of Rp404.10 mean?
PT Bank Maybank Indonesia Tbk (ISX:BNII) has a Cyclically Adjusted Book per Share of Rp404.10 as of Jun. 2026. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on PT Bank Maybank Indonesia Tbk and its competitors.
Is PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Book per Share too high?
PT Bank Maybank Indonesia Tbk's current Cyclically Adjusted Book per Share is Rp404.10. Overall, PT Bank Maybank Indonesia Tbk has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Book per Share compare to competitors?
PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Book per Share of Rp404.10 can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Book per Share for a Banks company?
A good Cyclically Adjusted Book per Share depends on the Banks industry context. However, Cyclically Adjusted Book per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Book per Share mean?
A high Cyclically Adjusted Book per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on PT Bank Maybank Indonesia Tbk and its competitors. PT Bank Maybank Indonesia Tbk's current Cyclically Adjusted Book per Share is Rp404.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Bank Maybank Indonesia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Bank Maybank Indonesia Tbk (ISX:BNII) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp224.44, compared to a current price of Rp194.00 — trading 13.6% below its estimated fair value. The current Cyclically Adjusted Book per Share is Rp404.10. PT Bank Maybank Indonesia Tbk's overall GF Score™ is 58/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For PT Bank Maybank Indonesia Tbk (ISX:BNII), the current Cyclically Adjusted Book per Share is Rp404.10 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is PT Bank Maybank Indonesia Tbk (ISX:BNII) Overvalued in 2026?

Based on GuruFocus' analysis, PT Bank Maybank Indonesia Tbk stock appears to be undervalued. The current stock price of Rp194.00 is trading 13.6% below its estimated GF Value™ of Rp224.44. GuruFocus considers PT Bank Maybank Indonesia Tbk to be Modestly Undervalued.

Key valuation signals for ISX:BNII:

  • Cyclically Adjusted Book per Share: Rp404.10
  • GF Value™: Rp224.44 vs. price of Rp194.00 (13.6% below fair value)
  • GF Score™: 58/100 with 2 warning signs

No single metric tells the full story. See the ISX:BNII stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


PT Bank Maybank Indonesia Tbk Business Description

Other Exchanges BOZA:Germany
Address Jalan Asia Afrika Number 8, Sentral Senayan III, Gelora Bung Karno, Jakarta Pusat, Jakarta, IDN, 10270
PT Bank Maybank Indonesia Tbk is an Indonesia-based company engaged in the banking sector. It provides various products and services for individual and corporate customers through Community Financial Services (Retail Banking and Non-Retail Banking), and Global Banking, as well as automotive financing through its subsidiaries. Its product and service offerings include digital banking solutions, credit cards, deposit accounts, different types of loans and advances, shariah wealth management, and others. The company, along with its subsidiaries, operates in the following segments: Global Banking, which derives key revenue, the Business Banking segment, Retail segment. Geographically, it derives maximum revenue from its business in Indonesia and also has a presence outside Indonesia.
58GF Score

Get the complete analysis for ISX:BNII

Cyclically Adjusted Book per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Rp194.00
Price
Rp224.44
GF Value