BELL

Technical Signal Analysis BELL

NEUTRAL

Relative Strength Index (RSI 14)

26.92 OVERSOLD (BUY)

Moving Average Crossover (20 vs 50)

SMA20: Rp 111 | SMA50: Rp 114 BEARISH (SELL)

Price Relative to SMA 20

Price: Rp 103 BEARISH (SELL)

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Riwayat Harga Triwulan (OHLC) BELL

Periode / Triwulan	Buka (Open)	Tinggi (High)	Rendah (Low)	Tutup (Close)
2026
Triwulan 4 (Q4)	Tidak ada data
Triwulan 3 (Q3)	Rp 104	Rp 105	Rp 102	Rp 104
Triwulan 2 (Q2)	Rp 107	Rp 139	Rp 80	Rp 114
Triwulan 1 (Q1)	Rp 186	Rp 212	Rp 99	Rp 107
2025
Triwulan 4 (Q4)	Rp 70	Rp 270	Rp 66	Rp 214
Triwulan 3 (Q3)	Rp 54	Rp 106	Rp 52	Rp 70
Triwulan 2 (Q2)	Rp 51	Rp 71	Rp 50	Rp 56
Triwulan 1 (Q1)	Rp 55	Rp 76	Rp 50	Rp 51
2024
Triwulan 4 (Q4)	Rp 60	Rp 65	Rp 35	Rp 54
Triwulan 3 (Q3)	Rp 65	Rp 96	Rp 59	Rp 61
Triwulan 2 (Q2)	Rp 59	Rp 92	Rp 50	Rp 64
Triwulan 1 (Q1)	Rp 70	Rp 74	Rp 57	Rp 59
2023
Triwulan 4 (Q4)	Rp 82	Rp 102	Rp 65	Rp 69
Triwulan 3 (Q3)	Rp 107	Rp 125	Rp 73	Rp 82
Triwulan 2 (Q2)	Rp 106	Rp 130	Rp 104	Rp 115
Triwulan 1 (Q1)	Rp 120	Rp 144	Rp 103	Rp 106
2022
Triwulan 4 (Q4)	Rp 133	Rp 164	Rp 113	Rp 119
Triwulan 3 (Q3)	Rp 230	Rp 248	Rp 109	Rp 133
Triwulan 2 (Q2)	Rp 378	Rp 660	Rp 240	Rp 242
Triwulan 1 (Q1)	Rp 79	Rp 378	Rp 57	Rp 378
2021
Triwulan 4 (Q4)	Rp 198	Rp 200	Rp 76	Rp 79
Triwulan 3 (Q3)	Rp 158	Rp 258	Rp 147	Rp 196
Triwulan 2 (Q2)	Tidak ada data
Triwulan 1 (Q1)	Tidak ada data

Target Harga Konsensus BELL AVOID

Cons. (Konservatif) Rp 108 +5.0%

Mod. (Moderat) Rp 113 +10.0%

Agg. (Agresif) Rp 118 +15.0%

Board of Directors & Executives

Budi Suryadi

Direktur Utama (CEO)

Surya Suryadi

Direktur Keuangan (CFO)

Surya Wong

Direktur Operasional (COO)

Anwar Santoso

Komisaris Utama (President Commissioner)

Riwayat Distribusi Dividen BELL

Tanggal Pembagian	Besaran Dividen (Per Lembar)
30 Apr 2026	Rp 1,38
31 Mar 2025	Rp 0,69
30 Apr 2024	Rp 0,35
31 Mar 2023	Rp 0,50
30 Apr 2022	Rp 0,28

Rasio Fundamental Utama BELL

Metrik / Tahun	2021	2022	2023	2024	2025
Current Ratio (%)	131,20%	165,70%	191,30%	184,30%	151,40%
Dividend (Rp)	2,02	1,91	2,59	3,21	3,47
EPS (Rp)	9,18	8,81	7,70	6,86	7,07
BV (Rp)	41,87	44,61	48,41	53,60	59,23
Price to Earnings (P/E)	8,4x	8,9x	10,9x	14,6x	14,6x
Price to Book Value (PBV)	1,8x	1,8x	1,7x	1,9x	1,7x
Debt to Asset (DAR)	0,47	0,45	0,43	0,42	0,43
Debt to Equity (DER)	0,88	0,83	0,75	0,72	0,76
ROA (%)	11,62%	10,86%	9,07%	7,42%	6,80%
ROE (%)	21,93%	19,75%	15,91%	12,80%	11,94%
GPM (%)	42,55%	43,39%	48,43%	53,04%	52,98%
OPM (%)	29,34%	29,92%	33,40%	36,58%	36,54%
NPM (%)	21,73%	22,17%	24,74%	27,10%	27,06%
Payout Ratio (%)	21,98%	21,70%	33,64%	46,84%	49,15%

Ringkasan Laporan Keuangan BELL

Metrik Keuangan / Tahun	2021	2022	2023	2024	2025
Pendapatan (Revenue)	422,36 M	397,46 M	311,21 M	253,17 M	261,24 M
Laba Kotor (Gross Profit)	179,70 M	172,46 M	150,73 M	134,28 M	138,40 M
Laba Operasional (Operating Income)	123,93 M	118,94 M	103,95 M	92,61 M	95,45 M
Laba Bersih (Net Income)	91,80 M	88,10 M	77,00 M	68,60 M	70,70 M
EPS (Earnings Per Share)	Rp 9,18	Rp 8,81	Rp 7,70	Rp 6,86	Rp 7,07
Total Aset (Total Assets)	787,16 M	816,36 M	847,18 M	921,92 M	1,04 T
Total Liabilitas (Total Debt/Liabilities)	368,46 M	370,26 M	363,08 M	385,92 M	450,15 M
Ekuitas (Total Equity)	418,70 M	446,10 M	484,10 M	536,00 M	592,30 M
Arus Kas Operasi (Operating Cash Flow)	105,57 M	101,32 M	88,55 M	78,89 M	81,31 M
Belanja Modal / Capital Expenditure (CapEx)	36,95 M	35,46 M	30,99 M	27,61 M	28,46 M
Free Cash Flow / OCF - CapEx	68,62 M	65,85 M	57,56 M	51,28 M	52,85 M
Dividen (Dividend per Share)	Rp 2,02	Rp 1,91	Rp 2,59	Rp 3,21	Rp 3,47
Jumlah Saham Beredar (Outstanding Shares)	10,00 Miliar	10,00 Miliar	10,00 Miliar	10,00 Miliar	10,00 Miliar

AI Summary Analysis BELL

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Discounted Cash Flow (DCF) Valuation BELL

OVERVALUED

Current Price Rp 103

Fair Value per Share Rp 84

Margin of Safety (MoS) -22.5%

Est. FCF Growth: 5%

Discount Rate (WACC): 11%

Terminal Growth: 3%

Proyeksi Periode	Projected FCF	Discount Factor	Present Value (PV)
Tahun 1	Rp 63,099,750,000	0.9009	Rp 56,846,621,622
Tahun 2	Rp 66,254,737,500	0.8116	Rp 53,773,831,264
Tahun 3	Rp 69,567,474,375	0.7312	Rp 50,867,137,682
Tahun 4	Rp 73,045,848,094	0.6587	Rp 48,117,562,672
Tahun 5	Rp 76,698,140,498	0.5935	Rp 45,516,613,338
Total PV of Projected FCF (1-5)			Rp 255,121,766,578
PV of Terminal Value at Year 5			Rp 586,026,396,732
Total Fair Value (Enterprise Value)			Rp 841,148,163,310

Trading Plan Summary BELL

BUY AREA / ENTRY RANGE

Rp 102 - Rp 103

Area beli terbaik dekat level Support 1.

TAKE PROFIT TARGETS

TP 1 Rp 105

TP 2 Rp 106

Target keluar berdasarkan level Resistance 1 & 2.

STOP LOSS

Rp 97

Batasi kerugian ~3% di bawah Support 2.

RISK-TO-REWARD RATIO

0.33 : 1

High Risk

Pivot Points (Classic)

S2Rp 100

S1Rp 102

PIVOTRp 103

R1Rp 105

R2Rp 106

Share Ownership Above 1 Percent BELL

Monthly shareholder reports with >1% ownership per OJK regulation

Share Ownership Above 1 Percent Report

Monthly publication of shareholders owning >1% of listed companies, per OJK Decision 1/KDK.04/2026.

OJK Regulated Monthly Report Report: 2026-08-10

KODE	SHAREHOLDER (investor)	OWNERSHIP %	SHARES	TYPE	INVESTOR	ORIGIN