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Indonesian (IDX) Market Analysis & Valuation

UpdatedDec 20, 2025
DataAggregated Company Financials
Companies844
  • 7D-0.9%
  • 3M7.2%
  • 1Y24.6%
  • YTD24.1%

In the last week, the market has been flat, with a notable exception in the Communication Services sector dropping 4.7%. As for the longer term, the market has risen 25% in the past 12 months. Earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasSoftwareRenewable Energy

Market Valuation and Performance

Has the Indonesian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Dec 2025Rp15346.5tRp5316.4tRp621.7t18.5x24.7x2.9x
Mon, 17 Nov 2025Rp14941.3tRp5341.3tRp613.6t17.7x24.3x2.8x
Wed, 15 Oct 2025Rp14747.0tRp5265.9tRp628.6t16.7x23.5x2.8x
Fri, 12 Sep 2025Rp13545.4tRp5251.6tRp632.3t16.1x21.4x2.6x
Sun, 10 Aug 2025Rp13179.3tRp5218.7tRp658.7t14.9x20x2.5x
Tue, 08 Jul 2025Rp11820.4tRp5127.6tRp624.5t14.9x18.9x2.3x
Thu, 05 Jun 2025Rp11981.8tRp5136.8tRp627.2t15.4x19.1x2.3x
Sat, 03 May 2025Rp11460.5tRp5166.6tRp634.0t15.6x18.1x2.2x
Mon, 31 Mar 2025Rp10923.3tRp5212.5tRp639.0t14.1x17.1x2.1x
Wed, 26 Feb 2025Rp11218.1tRp5180.6tRp574.9t14.5x19.5x2.2x
Fri, 24 Jan 2025Rp12309.2tRp5168.9tRp576.2t15.1x21.4x2.4x
Sun, 22 Dec 2024Rp11956.7tRp5176.5tRp573.2t14.3x20.9x2.3x
Tue, 19 Nov 2024Rp11796.8tRp5059.1tRp544.3t14.2x21.7x2.3x
Thu, 17 Oct 2024Rp12603.2tRp4969.0tRp526.6t16.2x23.9x2.5x
Sat, 14 Sep 2024Rp13229.8tRp4962.7tRp506.4t15.7x26.1x2.7x
Mon, 12 Aug 2024Rp12167.1tRp4990.7tRp506.4t14.7x24x2.4x
Wed, 10 Jul 2024Rp12270.9tRp4966.5tRp496.0t14.9x24.7x2.5x
Fri, 07 Jun 2024Rp11561.0tRp4999.8tRp501.4t14.3x23.1x2.3x
Sun, 05 May 2024Rp11867.9tRp4974.0tRp508.9t15.2x23.3x2.4x
Tue, 02 Apr 2024Rp11466.2tRp4921.4tRp529.6t14x21.6x2.3x
Thu, 29 Feb 2024Rp11530.8tRp4915.8tRp594.4t14.6x19.4x2.3x
Sat, 27 Jan 2024Rp11212.9tRp4958.6tRp586.1t14.8x19.1x2.3x
Mon, 25 Dec 2023Rp11507.8tRp4930.0tRp584.3t14.8x19.7x2.3x
Wed, 22 Nov 2023Rp10960.4tRp4945.3tRp599.8t15.1x18.3x2.2x
Fri, 20 Oct 2023Rp10300.4tRp5001.4tRp610.7t15.3x16.9x2.1x
Sun, 17 Sep 2023Rp10208.9tRp4970.8tRp616.5t16.2x16.6x2.1x
Tue, 15 Aug 2023Rp9965.4tRp4992.5tRp624.7t16.4x16x2x
Thu, 13 Jul 2023Rp9700.4tRp4969.4tRp626.6t16x15.5x2x
Sat, 10 Jun 2023Rp9282.8tRp4893.1tRp604.6t15.5x15.4x1.9x
Mon, 08 May 2023Rp9501.7tRp4851.7tRp613.7t15.6x15.5x2x
Wed, 05 Apr 2023Rp9148.9tRp4816.9tRp620.4t14.2x14.7x1.9x
Fri, 03 Mar 2023Rp9333.4tRp4713.4tRp637.1t14.3x14.6x2x
Sun, 29 Jan 2023Rp9316.8tRp4623.0tRp620.0t14.3x15x2x
Tue, 27 Dec 2022Rp9212.6tRp4662.4tRp627.0t14.1x14.7x2x
Price to Earnings Ratio

14.7x


Total Market Cap: Rp9212.6tTotal Earnings: Rp627.0tTotal Revenue: Rp4662.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Market Price to Earnings3Y Average 19.7x202320242025
Current Market PE
  • Investors are optimistic on the Indonesian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 24.7x which is higher than its 3-year average PE of 19.7x.
Past Earnings Growth
  • The earnings for Indonesian listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have grown 4.5% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Sector Trends

Which sectors have driven the changes within the Indonesian Market?

ID Market-0.94%
Financials2.68%
Healthcare2.58%
Industrials2.57%
Consumer Staples0.97%
Materials-2.00%
Tech-2.03%
Real Estate-2.07%
Consumer Discretionary-2.22%
Utilities-2.31%
Energy-3.29%
Telecom-4.66%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 115x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 31.5%, which is higher than its past year's earnings growth of 7.0% per year.
  • The Industrials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 10.3x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings growth rate of 7.0% per year.
  • In contrast, the Materials sector is expected to see its earnings grow by 6.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
BMRI Bank Mandiri (Persero)Rp5.18k7.4%
+Rp33.1t		-8.8%PB1.7xFinancials
BBRI Bank Rakyat Indonesia (Persero)Rp3.77k3.9%
+Rp21.1t		-7.1%PB1.7xFinancials
BNLI Bank PermataRp5.15k11.0%
+Rp18.5t		447.9%PB4.1xFinancials
DSSA Dian Swastatika SentosaRp109.13k2.7%
+Rp17.7t		198.0%PE165.6xEnergy
TPIA Chandra Asri PacificRp7.18k1.8%
+Rp10.8t		-1.7%PE28.8xMaterials
See more

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BBRI
Rp3,770.00
Bank Rakyat Indonesia (Persero)
7D
3.9%
1Y
-7.1%
TPIA
Rp7,175.00
Chandra Asri Pacific
7D
1.8%
1Y
-1.7%
BMRI
Rp5,175.00
Bank Mandiri (Persero)
7D
7.4%
1Y
-8.8%

BMRI: Lower Risk Profile Will Support Stronger Forward Market Confidence

Analysts have nudged their price target on Bank Mandiri (Persero) slightly higher, from IDR 5,463 to about IDR 5,497. This reflects marginally stronger expectations for revenue growth and valuation multiples, despite a modestly lower profit margin forecast and a slightly reduced discount rate.
ALII
Rp1,190.00
Ancara Logistics Indonesia
7D
52.6%
1Y
213.2%
DSSA
Rp109,125.00
Dian Swastatika Sentosa
7D
2.7%
1Y
198.0%
BBCA
Rp8,050.00
Bank Central Asia
7D
0.6%
1Y
-16.6%
BRPT
Rp3,510.00
Barito Pacific
7D
-5.4%
1Y
328.0%
CUAN
Rp2,240.00
Petrindo Jaya Kreasi
7D
-11.5%
1Y
115.4%
FILM
Rp8,850.00
PT.MD Entertainment
7D
-19.5%
1Y
128.7%
AMMN
Rp6,325.00
Amman Mineral Internasional
7D
-5.9%
1Y
-29.7%
SRAJ
Rp17,200.00
Sejahteraraya Anugrahjaya
7D
4.2%
1Y
622.7%
BREN
Rp9,375.00
Barito Renewables Energy
7D
-2.1%
1Y
1.9%
MORA
Rp10,450.00
Mora Telematika Indonesia
7D
-7.7%
1Y
2,171.7%
BYAN
Rp15,950.00
Bayan Resources
7D
-7.5%
1Y
-21.7%
BNLI
Rp5,150.00
Bank Permata
7D
11.0%
1Y
447.9%
MLPT
Rp60,100.00
Multipolar Technology
7D
-11.3%
1Y
233.9%