PT Bank Mandiri (Persero) Tbk (ISX:BMRI) Cyclically Adjusted PS Ratio: 3.25 (As of Aug. 06, 2026) — 26% Below Median

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ISX:BMRI PT Bank Mandiri (Persero) Tbk ISX:BMRI
74 GF Score
Price Rp4,220.00
GF Value Rp5,610.54
Valuation Modestly Undervalued
! 4 Warning Signs
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What is PT Bank Mandiri (Persero) Tbk Cyclically Adjusted PS Ratio?

PT Bank Mandiri (Persero) Tbk ISX:BMRI -0.94% 74 Cyclically Adjusted PS Ratio is 3.25 as of Aug. 06, 2026, which is 26% below its 10-year median of 4.40. GuruFocus rates ISX:BMRI with a GF Score™ of 74/100 and a GF Value™ of Rp5,610.54 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,299 Banks companies, PT Bank Mandiri (Persero) Tbk ranks better than 54.5% on this metric.

As of today (2026-08-06), PT Bank Mandiri (Persero) Tbk's current share price is Rp4220.00. PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was Rp1,298.20. PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio for today is 3.25.

The historical rank and industry rank for PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio or its related term are showing as below:

ISX:BMRI' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.38   Med: 4.4   Max: 6.87
Current: 3.25

During the past years, PT Bank Mandiri (Persero) Tbk's highest Cyclically Adjusted PS Ratio was 6.87. The lowest was 2.38. And the median was 4.40.

ISX:BMRI's Cyclically Adjusted PS Ratio is ranked better than
54.5% of 1299 companies
in the Banks industry
Industry Median: 3.41 vs ISX:BMRI: 3.25

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 PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

PT Bank Mandiri (Persero) Tbk's adjusted revenue per share data for the three months ended in Jun. 2026 was Rp324.887. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is Rp1,298.20 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Bank Mandiri (Persero) Tbk  (ISX:BMRI) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


PT Bank Mandiri (Persero) Tbk Cyclically Adjusted PS Ratio Related Terms


PT Bank Mandiri (Persero) Tbk Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio 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 Mandiri (Persero) Tbk Cyclically Adjusted PS Ratio Chart

PT Bank Mandiri (Persero) Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.01 5.62 4.92 4.06

PT Bank Mandiri (Persero) 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 PS Ratio 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 4.05 3.60 4.06 3.69 2.97

PT Bank Mandiri (Persero) Tbk Cyclically Adjusted PS Ratio Competitor Comparison

For the Banks - Regional subindustry, PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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 Mandiri (Persero) Tbk Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio falls into.


ISX:BMRI
74GF Score
PT Bank Mandiri (Persero) Tbk ISX:BMRI
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Bank Mandiri (Persero) Tbk Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=4220.00/1298.20
=3.25

* 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 Mandiri (Persero) Tbk's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, PT Bank Mandiri (Persero) Tbk's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=324.887/137.6954*137.6954
=324.887

Current CPI (Jun. 2026) = 137.6954.

PT Bank Mandiri (Persero) Tbk Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 214.250 104.142 283.278
201612 160.608 105.222 210.175
201703 187.760 106.476 242.813
201706 423.105 107.722 540.836
201709 352.228 108.020 448.991
201712 199.137 109.017 251.523
201803 197.578 110.097 247.107
201806 209.499 111.085 259.685
201809 200.321 111.135 248.197
201812 230.225 112.430 281.962
201903 207.901 112.829 253.721
201906 212.281 114.730 254.773
201909 222.710 114.905 266.884
201912 234.137 115.486 279.165
202003 240.282 116.252 284.603
202006 198.321 116.630 234.142
202009 197.051 116.397 233.108
202012 298.028 117.318 349.793
202103 258.789 117.840 302.394
202106 264.600 118.184 308.284
202109 263.794 118.262 307.143
202112 279.743 119.516 322.294
202203 291.181 120.948 331.500
202206 294.452 123.322 328.770
202209 307.811 125.298 338.266
202212 345.891 126.098 377.704
202303 321.494 126.953 348.699
202306 325.595 127.663 351.182
202309 337.973 128.151 363.143
202312 345.585 129.395 367.754
202403 340.321 130.607 358.791
202406 352.808 130.792 371.431
202409 364.425 130.361 384.929
202412 386.717 131.432 405.148
202503 369.292 131.948 385.376
202506 343.148 133.241 354.621
202509 375.676 133.819 386.558
202512 413.967 135.271 421.386
202603 367.832 136.539 370.948
202606 324.887 137.695 324.887

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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.

What does a Cyclically Adjusted PS Ratio of 3.25 mean?
PT Bank Mandiri (Persero) Tbk (ISX:BMRI) has a Cyclically Adjusted PS Ratio of 3.25 as of Aug. 06, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on PT Bank Mandiri (Persero) Tbk and its competitors. This is 26% below median its historical median of 4.40. Over the past decade, PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio has ranged from 2.38 to 6.87. According to the industry distribution chart, PT Bank Mandiri (Persero) Tbk ranks #591 out of 1299 companies in the Banks industry, placing it in the top 45.5%.
Is PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio too high?
PT Bank Mandiri (Persero) Tbk's current Cyclically Adjusted PS Ratio of 3.25 is 26% below median its 10-year median of 4.40. Over the past 10 years, this metric has ranged from a low of 2.38 to a high of 6.87. The Banks industry median Cyclically Adjusted PS Ratio is 3.41. PT Bank Mandiri (Persero) Tbk's value of 3.25 is 4.7% below this industry median. Based on the distribution chart, PT Bank Mandiri (Persero) Tbk ranks #591 out of 1299 companies in the Banks industry, which is above the industry midpoint. Overall, PT Bank Mandiri (Persero) Tbk has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Bank Mandiri (Persero) Tbk's Cyclically Adjusted PS Ratio compare to competitors?
According to the Banks industry distribution chart, PT Bank Mandiri (Persero) Tbk ranks #591 out of 1299 companies for Cyclically Adjusted PS Ratio. This puts PT Bank Mandiri (Persero) Tbk in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.41. PT Bank Mandiri (Persero) Tbk's value of 3.25 is 4.7% below this benchmark. Historically, PT Bank Mandiri (Persero) Tbk's own Cyclically Adjusted PS Ratio has ranged from 2.38 to 6.87 over the past decade. While the company's 10-year median is 4.40 vs. the industry median of 3.41, PT Bank Mandiri (Persero) Tbk has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Banks company?
The median Cyclically Adjusted PS Ratio among Banks companies is 3.41, based on 1,299 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PT Bank Mandiri (Persero) Tbk's current Cyclically Adjusted PS Ratio of 3.25 is 4.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on PT Bank Mandiri (Persero) Tbk and its competitors. For the Banks industry, the median Cyclically Adjusted PS Ratio is 3.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Bank Mandiri (Persero) Tbk's current Cyclically Adjusted PS Ratio is 3.25, which is 26% below median its own 10-year median of 4.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Bank Mandiri (Persero) Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Bank Mandiri (Persero) Tbk (ISX:BMRI) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp5,610.54, compared to a current price of Rp4,220.00 — trading 24.8% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 3.25, which is 26% below median its 10-year median of 4.40 and 4.7% below the Banks industry median of 3.41. PT Bank Mandiri (Persero) Tbk's overall GF Score™ is 74/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For PT Bank Mandiri (Persero) Tbk (ISX:BMRI), the current Cyclically Adjusted PS Ratio is 3.25 as of Aug. 06, 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 Mandiri (Persero) Tbk (ISX:BMRI) Overvalued in 2026?

Based on GuruFocus' analysis, PT Bank Mandiri (Persero) Tbk stock appears to be undervalued. The current stock price of Rp4,220.00 is trading 24.8% below its estimated GF Value™ of Rp5,610.54. GuruFocus considers PT Bank Mandiri (Persero) Tbk to be Modestly Undervalued.

Key valuation signals for ISX:BMRI:

  • Cyclically Adjusted PS Ratio: 3.25 (26% below median its 10-year median of 4.40)
  • GF Value™: Rp5,610.54 vs. price of Rp4,220.00 (24.8% below fair value)
  • GF Score™: 74/100 with 4 warning signs
  • Industry Position: 4.7% below the Banks median (#591 of 1299)

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


PT Bank Mandiri (Persero) Tbk Business Description

Address Jl. Jenderal Sudirman Kav.54-55, Menara Mandiri 1, Jakarta, IDN, 12190
PT Bank Mandiri (Persero) Tbk is engaged in the provision of banking services. Its services include collecting funds from the public in forms of current accounts, term deposits, deposit certificates, savings, and/or other equivalent forms; Lending; Issuing promissory notes; Purchasing, selling, or guaranteeing on own risk or for the interest of and upon orders of the customers; and money transfer for self- interest or customers' interest. Its segments include the Wholesale segment and the Retail segment. Geographically, it operates in Indonesia, Asia (Singapore, Hong Kong, Timor Leste, Shanghai, Malaysia), Western Europe (United Kingdom), and the Cayman Islands.
74GF Score

Get the complete analysis for ISX:BMRI

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

Rp4,220.00
Price
Rp5,610.54
GF Value