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    Real Estate - Development
PT Bumi Serpong Damai Tbk

PT Bumi Serpong Damai Tbk

BSDE.JK
PT Bumi Serpong Damai TbkID flagIndonesia Stock Exchange
555.00
IDR
+5.00
- -
11.61TMarket Cap
PT Bumi Serpong Damai Tbk
BSDE.JK
(Indonesia Stock Exchange)

Recent

price

555.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
215.74
160.39
213.05
328.13
310.5
326.34
343.07
537.62
345.46
373.11
309.79
366.02
489.42
551.76
659.7
611.5
482.19
Revenue per Share
45.26
48.05
73.5
153.82
211.19
112.44
93.32
255.64
67.43
147
14.12
64.49
116.34
93.02
208.43
121.71
116.04
Basic EPS, GAAP
-4.34
-9.82
-3.16
-4.22
-8.82
-7.52
-6.72
-4.14
-2.19
-77.86
-35.93
-39.62
-47.22
-30.2
-20.8
-8.9
-8.64
Free Cash Flow per Basic Share
5.71
6
10
15
15.24
15.17
5
5
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
247.2
203.05
266.44
404.94
591.04
663.16
743.05
990.04
1,063.35
1,220.35
1,157.79
1,171.08
1,286.41
1,378.98
1,587.71
1,708.48
1,723.72
Book Value per Share
645.42
471.25
601.38
766.04
1,019.39
1,165.54
1,270.52
1,516.5
1,581.63
1,683.31
1,602.59
1,546.07
1,603.55
1,734.67
2,019.96
2,280.71
2,289.28
Tangible Book Value per Share
11,482
17,497
17,497
17,497
18,080
19,028
19,247
19,247
19,188
18,989
19,951
20,913
20,913
20,913
20,913
20,913
20,913
Basic Weighted Avg Shares
2,477,203
2,806,339
3,727,812
5,741,264
5,613,890
6,209,574
6,602,955
10,347,343
6,628,782
7,084,864
6,180,589
7,654,802
10,235,480
11,539,141
13,796,572
12,788,452
10,084,320
Sales/Revenue/Turnover
35.14
34.73
38.16
51.14
47.67
46.94
42.78
53.22
37.76
40.13
36.64
35.06
39.99
28.87
31.3
30.76
38.47
Operating Margin (%)
- -
40,915
51,864
47,906
53,015
97,741
106,062
109,333
105,315
61,361
63,793
55,083
51,600
59,291
70,769
84,544
65,065
Depreciation Expense
519,704
840,780
1,286,047
2,691,396
3,818,364
2,139,497
1,796,156
4,920,228
1,293,850
2,791,416
281,701
1,348,623
2,433,147
1,945,467
4,359,064
2,545,381
2,426,865
Net Income, GAAP
15.93
13.52
12.83
11.38
0.08
0.45
1.34
0.75
3.33
1.15
3.2
0.53
0.18
0.45
0.56
0.59
0.52
Effective Tax Rate (%)
20.98
29.96
34.5
46.88
68.02
34.45
27.2
47.55
19.52
39.4
4.56
17.62
23.77
16.86
31.6
19.9
24.07
Profit Margin (%)
4,220,691
3,520,451
5,532,200
7,091,174
5,735,002
10,802,382
10,872,912
10,395,707
14,710,585
18,086,216
16,531,611
17,429,864
18,253,822
17,477,104
16,320,329
23,077,712
24,213,629
Working Capital
67,401
67,401
1,034,409
2,762,942
2,823,407
5,869,433
6,543,704
7,034,192
13,131,230
12,766,473
11,608,785
9,842,025
10,482,252
10,194,988
11,007,356
14,470,654
15,751,685
LT Debt
7,415,269
8,257,225
10,531,704
13,412,737
18,440,170
22,187,200
24,462,607
29,196,851
30,358,002
33,625,414
34,471,102
35,893,717
38,045,436
41,201,586
47,319,328
52,668,905
52,868,423
Total Equity
10.81
10.15
12.01
17.8
13.24
10.95
8.94
15.49
5.84
6.14
4.44
5.36
8.33
6.43
7.47
5.96
5.82
Return on Invested Capital (%)
21.59
16.08
16.72
23.28
24.76
11.86
8.58
17.95
4.84
8.64
4.08
6.45
9.08
7.24
10.44
6.52
5.77
Return on Capital (%)
22.14
26.31
31.31
45.82
42.97
18.36
13.34
29.5
6.56
12.81
1.22
5.67
9.47
6.98
14.05
7.38
6.97
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
1,931,810
1,721,089
LT Borrowings
- -
14,434,805
15,717,228
LT Finance Leases
- -
35,849
34,457
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
20,913
20,913
Market Capitalization
22,168,199
18,926,623
15,475,912

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
32,764,536
33,075,855
Cash, Cash Equivalents & STI
- -
11,788,429
11,222,655
Accounts Receivable, Net
- -
140,984
146,885
Inventories
- -
18,329,611
18,670,647
Total Current Liabilities
- -
9,686,824
8,862,226
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,931,810
1,721,089
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.14%
8.92%
11.31%
Free Cash Flow
318.06%
-17.92%
-57.2%
Net Income, GAAP
63.16%
104.31%
-41.61%
Sales/Revenue/Turnover
10.38%
16.51%
-7.31%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,774,500
3,572,133
2,720,374
3,729,566
13,796,572
2025
2,700,904
3,689,852
- -
4,025,671
12,788,452
2026
2,368,796
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
68.71
- -
- -
- -
208.43
2025
14.63
- -
- -
- -
121.71
2026
13.28
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
PT Bumi Serpong Damai Tbk (BSDE.JK) engages primarily in real estate development, focusing on integrated townships, residential housing, commercial properties, and supporting infrastructure in Indonesia. The company develops and markets a range of products and services including landed houses, high-rise apartments, condominiums, and cluster housing across various price segments; office spaces, retail malls, and shopping centers; hotels and hospitality facilities; industrial estates; toll road concessions; and ancillary services such as golf courses, parks, educational institutions, waste management systems, and fiber-optic connectivity. Its flagship project, BSD City in Tangerang, Banten, spans a fully integrated urban area housing over 450,000 residents with 40,000 units, multiple universities, schools, entertainment venues, and commercial hubs. Operations extend to key regions including Greater Jakarta, Surabaya, and other major Indonesian cities, targeting middle- to upper-income homebuyers, businesses, and institutional tenants. Founded on January 16, 1984, and headquartered at Sinar Mas Land Plaza in BSD Green Office Park, Tangerang, Banten, the company listed on the Indonesia Stock Exchange in 2008 and operates as a subsidiary of Sinar Mas Land Limited within the Sinar Mas Group. Key subsidiaries include PT Duta Pertiwi Tbk (DUTI), which bolsters recurring income from property management and leasing; PT Trans Bumi Serbaraja (TBS) for transportation; and recently consolidated PT Suryamas Dutamakmur Tbk (SMDM). In recent developments, PT Bumi Serpong Damai Tbk completed the acquisition of 91.99% of PT Suryamas Dutamakmur Tbk (SMDM) in 2024, adding an 845-hectare land bank in Jakarta's eastern and southern corridors centered around the Rancamaya Golf Estate and enhancing geographic diversification. The company followed up in early 2025 by acquiring an additional 6.98% stake in SMDM from 59 shareholders for approximately IDR 180 billion and proposed a further 8.01% for IDR 200 billion, solidifying control and portfolio expansion. It also entered a supply chain financing partnership with PT Bank Negara Indonesia (Persero) Tbk (BNI) to support partners and vendors, while repaying US$88.92 million in senior notes in January 2025 to strengthen its balance sheet. These moves underscore a strategic focus on land bank growth, recurring revenue streams, and financial resilience amid Indonesia's urban development boom.