PT Bank Mandiri (Persero) Tbk (PPERY) AI Stock Analysis

PT Bank Mandiri (Persero) Tbk

(Other OTC:PPERY)

Select Model

Rating:64Neutral

Price Target:$9.00▲(9.62% Upside)

Action:reiterated

Date:10/29/26

The overall score of 64 reflects a company with strong fundamentals and deep value, offset by weak market momentum. The primary strengths are the exceptionally attractive valuation (P/E of 5.6, 14.6% yield) and a robust, deleveraging balance sheet. These are countered by significant risks: a sharp deceleration in revenue growth and a sustained bearish technical trend, with the stock trading below all major moving averages. The recovery in operating cash flow is a positive, but the 81% drop in free cash flow raises concerns about the dividend's long-term sustainability.

Positive Factors

Strong ProfitabilityImproving net and operating margins indicate strong earnings capacity and operating efficiency. If maintained, this profitability provides a durable buffer against moderate credit or funding pressure, supports internal capital generation, and gives the bank more flexibility to invest in growth and digital capabilities.

Negative Factors

Sharp Revenue ContractionThe sharp TTM revenue contraction is a meaningful deterioration in business momentum despite stronger margins. Prolonged weak revenue would constrain the bank’s ability to expand its earning-asset base, increase operating leverage, and sustain recent profit growth over the coming quarters.

PT Bank Mandiri (Persero) Tbk (PPERY) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $19.13B
Dividend Yield: 15.04%
Average Volume (3M): 69.23K
Price to Earnings (P/E): 5.4
Beta (1Y): 0.44
Revenue Growth: -11.23%
EPS Growth: 18.05%
Country: US
Employees: 38,751
Sector: Financial
Sector Strength: 68
Industry: Banks - Regional

PT Bank Mandiri (Persero) Tbk Business Overview & Revenue Model

Company Description

PT Bank Mandiri (Persero) Tbk engages in providing general banking services. It operates through the following segments: Corporate Banking, Commercial Banking, Institutional Banking, Retail Banking, and Treasury and International Banking. It operates...

How the Company Makes Money

Bank Mandiri primarily earns money through a mix of interest-based income and fee-based income typical of a universal bank. Its largest revenue driver is generally net interest income: the bank collects funds through low-cost deposits (such as curren...

PT Bank Mandiri (Persero) Tbk Financial Statement Overview

Summary

Financial performance is mixed. Strengths include a strong balance sheet (Score 78) with low leverage and high ROE, and recovering operating cash flow. However, the income statement (Score 72) shows a sharp revenue deceleration, and cash flow quality (Score 45) remains weak with an 81% decline in free cash flow. The weighted average of the three sub-scores is 65.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	194.16T	205.54T	134.80T	124.19T	115.63T	99.50T
Gross Profit	140.27T	146.14T	134.80T	124.19T	115.63T	99.50T
EBITDA	88.22T	81.43T	0	79.25T	60.89T	41.93T
Net Income	64.39T	56.78T	55.78T	55.06T	41.17T	28.03T
Balance Sheet
Total Assets	2588.30T	2836.74T	2427.22T	2174.22T	1992.54T	1725.61T
Cash, Cash Equivalents and Short-Term Investments	259.29T	384.91T	250.73T	249.40T	277.85T	196.30T
Total Debt	231.49T	282.59T	172.10T	134.26T	107.15T	94.43T
Total Liabilities	2285.50T	2508.55T	2113.75T	1886.72T	1740.30T	1503.50T
Stockholders Equity	294.04T	294.46T	283.80T	260.85T	229.68T	204.69T
Cash Flow
Free Cash Flow	7.13T	96.01T	-88.10T	-158.65T	-106.25T	-20.07T
Operating Cash Flow	12.00T	101.52T	-79.56T	-155.57T	-102.24T	-17.79T
Investing Cash Flow	-203.54T	787.69B	17.73T	16.01T	-41.89T	-132.48T
Financing Cash Flow	232.10T	-74.63T	57.85T	109.41T	215.54T	144.25T

PT Bank Mandiri (Persero) Tbk Technical Analysis

Technical Analysis SentimentNegative

Last Price8.21

Price Trends

50DMA9.13Negative

100DMA9.19Negative

200DMA9.72Negative

Market Momentum

MACD-0.23Negative

RSI39.22Neutral

STOCH49.29Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PPERY, the sentiment is Negative. The current price of 8.21 is below the 20-day moving average (MA) of 8.58, below the 50-day MA of 9.13, and below the 200-day MA of 9.72, indicating a bearish trend. The MACD of -0.23 indicates Negative momentum. The RSI at 39.22 is Neutral, neither overbought nor oversold. The STOCH value of 49.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PPERY.

PT Bank Mandiri (Persero) Tbk Peers Comparison

Overall Rating

UnderperformOutperform

Sector (68)

Financial Indicators

PPERY against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BSAC	79Outperform	$14.49B	13.14	22.03%	4.85%	7.69%	9.88%
BCH	71Outperform	$18.62B	15.24	21.27%	5.99%	3.94%	3.40%
Sector *	68Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PPERY	64Neutral	$19.25B	5.41	21.78%	15.04%	-11.23%	18.05%
BBD	64Neutral	$27.27B	5.23	14.24%	12.02%	29.04%	34.36%
AVAL	61Neutral	$5.48B	9.90	9.54%	3.84%	15.47%	18.50%
BSBR	57Neutral	$16.50B	29.20	10.09%	3.35%	18.27%	16.65%

* Financial Sector Average

Performance Comparison

PPERY and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
PPERY	PT Bank Mandiri	8.21	-2.28	-21.71%
BBD	Banco Bradesco	2.55	-0.71	-21.85%
BCH	Banco De Chile	36.55	1.83	5.26%
BSBR	Banco Santander Brasil SA	4.41	-1.18	-21.17%
BSAC	Banco Santander-Chile	30.53	2.57	9.18%
AVAL	Grupo Aval Acciones Y Valores Sa Pfd	4.43	0.31	7.60%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 29, 2026

PT Bank Mandiri (Persero) Tbk AI Stock Analysis