PT Bank Maybank Indonesia Tbk (ISX:BNII) Cyclically Adjusted FCF per Share: Rp5.15 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

ISX:BNII PT Bank Maybank Indonesia Tbk ISX:BNII
55 GF Score
Price Rp191.00
GF Value Rp223.61
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is PT Bank Maybank Indonesia Tbk Cyclically Adjusted FCF per Share?

PT Bank Maybank Indonesia Tbk ISX:BNII 55 Cyclically Adjusted FCF per Share is Rp5.15 as of Mar. 2026. GuruFocus rates ISX:BNII with a GF Score™ of 55/100 and a GF Value™ of Rp223.61 (Modestly Undervalued). The stock has 3 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 FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

PT Bank Maybank Indonesia Tbk's adjusted free cash flow per share for the three months ended in Mar. 2026 was Rp6.406. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is Rp5.15 for the trailing ten years ended in Mar. 2026.

During the past 12 months, PT Bank Maybank Indonesia Tbk's average Cyclically Adjusted FCF Growth Rate was -41.10% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was -8.80% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was -20.70% 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 FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of PT Bank Maybank Indonesia Tbk was -8.80% per year. The lowest was -17.00% per year. And the median was -15.60% per year.

As of today (2026-07-22), PT Bank Maybank Indonesia Tbk's current stock price is Rp191.00. PT Bank Maybank Indonesia Tbk's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2026 was Rp5.15. PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Price-to-FCF of today is 37.09.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of PT Bank Maybank Indonesia Tbk was 135.48. The lowest was 6.68. And the median was 15.26.


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

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF 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 Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=191.00/5.15
=37.09

* 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 Price-to-FCF of PT Bank Maybank Indonesia Tbk was 135.48. The lowest was 6.68. And the median was 15.26.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


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


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

* Premium members only.

The historical data trend for PT Bank Maybank Indonesia Tbk's Cyclically Adjusted FCF 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 FCF per Share Chart

PT Bank Maybank Indonesia Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 32.32 7.99 14.62 19.41 6.06

PT Bank Maybank Indonesia Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted FCF 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 8.74 13.37 29.92 6.06 5.15

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

For the Banks - Regional subindustry, PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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 Price-to-FCF vs Banks Industry

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

* The bar in red indicates where PT Bank Maybank Indonesia Tbk's Cyclically Adjusted Price-to-FCF falls into.


ISX:BNII
55GF Score
PT Bank Maybank Indonesia Tbk ISX:BNII
Cyclically Adjusted FCF per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Bank Maybank Indonesia Tbk Cyclically Adjusted FCF 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 FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

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

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow 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 FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF 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 Free Cash Flow per Share data for the three months ended in Mar. 2026 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=6.406/136.5387*136.5387
=6.406

Current CPI (Mar. 2026) = 136.5387.

PT Bank Maybank Indonesia Tbk Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201606 -109.835 103.212 -145.300
201609 53.038 104.142 69.537
201612 -27.616 105.222 -35.835
201703 -12.260 106.476 -15.722
201706 -7.340 107.722 -9.304
201709 -26.189 108.020 -33.103
201712 -16.279 109.017 -20.389
201803 53.159 110.097 65.926
201806 -130.297 111.085 -160.153
201809 -75.201 111.135 -92.391
201812 59.358 112.430 72.086
201903 104.646 112.829 126.637
201906 -15.923 114.730 -18.950
201909 -23.681 114.905 -28.140
201912 10.712 115.486 12.665
202003 115.242 116.252 135.352
202006 -37.493 116.630 -43.893
202009 283.313 116.397 332.340
202012 36.483 117.318 42.460
202103 72.783 117.840 84.332
202106 -139.396 118.184 -161.045
202109 -66.335 118.262 -76.587
202112 132.893 119.516 151.821
202203 -46.535 120.948 -52.533
202206 -14.994 123.322 -16.601
202209 -100.513 125.298 -109.530
202212 -9.907 126.098 -10.727
202303 4.814 126.953 5.178
202306 54.594 127.663 58.390
202309 35.390 128.151 37.706
202312 -34.510 129.395 -36.415
202403 -60.059 130.607 -62.787
202406 -43.671 130.792 -45.590
202409 20.812 130.361 21.798
202412 -20.476 131.432 -21.272
202503 -46.314 131.948 -47.925
202506 64.247 133.241 65.837
202509 169.659 133.819 173.107
202512 -164.325 135.271 -165.865
202603 6.406 136.539 6.406

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

What does a Cyclically Adjusted FCF per Share of Rp5.15 mean?
PT Bank Maybank Indonesia Tbk (ISX:BNII) has a Cyclically Adjusted FCF per Share of Rp5.15 as of Mar. 2026. Cyclically Adjusted FCF per Share represents the company's inflation-adjusted FCF 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 FCF per Share too high?
PT Bank Maybank Indonesia Tbk's current Cyclically Adjusted FCF per Share is Rp5.15. Overall, PT Bank Maybank Indonesia Tbk has a GF Score™ of 55/100 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 FCF per Share compare to competitors?
PT Bank Maybank Indonesia Tbk's Cyclically Adjusted FCF per Share of Rp5.15 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 FCF per Share for a Banks company?
A good Cyclically Adjusted FCF per Share depends on the Banks industry context. However, Cyclically Adjusted FCF 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 FCF per Share mean?
A high Cyclically Adjusted FCF per Share can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted FCF per Share represents the company's inflation-adjusted FCF 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 FCF per Share is Rp5.15. 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 Rp223.61, compared to a current price of Rp191.00 — trading 14.6% below its estimated fair value. The current Cyclically Adjusted FCF per Share is Rp5.15. PT Bank Maybank Indonesia Tbk's overall GF Score™ is 55/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted FCF per Share calculated?
Cyclically Adjusted FCF per Share is calculated from a company's financial statements. For PT Bank Maybank Indonesia Tbk (ISX:BNII), the current Cyclically Adjusted FCF per Share is Rp5.15 as of Mar. 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 Rp191.00 is trading 14.6% below its estimated GF Value™ of Rp223.61. GuruFocus considers PT Bank Maybank Indonesia Tbk to be Modestly Undervalued.

Key valuation signals for ISX:BNII:

  • Cyclically Adjusted FCF per Share: Rp5.15
  • GF Value™: Rp223.61 vs. price of Rp191.00 (14.6% below fair value)
  • GF Score™: 55/100 with 3 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.
55GF Score

Get the complete analysis for ISX:BNII

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

Rp191.00
Price
Rp223.61
GF Value