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Indonesian (IDX) Market Analysis & Valuation

UpdatedApr 18, 2026
DataAggregated Company Financials
Companies842
  • 7D3.3%
  • 3M-16.7%
  • 1Y19.4%
  • YTD-14.8%

The market is up 3.3% in the last 7 days, led by the Utilities and Materials sectors. The market is up 19% over the last 12 months. As for the next few years, earnings are expected to grow by 6.4% per annum.

Trending IndustriesOil and GasSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 18 Apr 2026Rp13302.3tRp5485.0tRp641.5t17.9x20.7x2.4x
Mon, 16 Mar 2026Rp12340.2tRp5409.6tRp633.7t15.9x19.5x2.3x
Wed, 11 Feb 2026Rp14320.2tRp5313.2tRp620.7t17.9x23.1x2.7x
Fri, 09 Jan 2026Rp15855.3tRp5316.1tRp620.6t19.3x25.5x3x
Sun, 07 Dec 2025Rp15457.6tRp5341.4tRp614.6t18.2x25.2x2.9x
Tue, 04 Nov 2025Rp14692.7tRp5304.8tRp628.8t17.3x23.4x2.8x
Thu, 02 Oct 2025Rp14417.6tRp5267.2tRp629.4t17.1x22.9x2.7x
Sat, 30 Aug 2025Rp13984.8tRp5237.4tRp638.7t15.8x21.9x2.7x
Mon, 28 Jul 2025Rp13154.1tRp5139.9tRp625.7t15.1x21x2.6x
Wed, 25 Jun 2025Rp11774.6tRp5134.6tRp626.2t14.9x18.8x2.3x
Fri, 23 May 2025Rp12150.7tRp5142.9tRp630.2t15.3x19.3x2.4x
Sun, 20 Apr 2025Rp10910.8tRp5203.7tRp639.5t14.1x17.1x2.1x
Tue, 18 Mar 2025Rp10920.4tRp5146.1tRp634.6t14.2x17.2x2.1x
Thu, 13 Feb 2025Rp11170.4tRp5221.9tRp574.2t14.3x19.5x2.1x
Sat, 11 Jan 2025Rp12195.5tRp5151.3tRp572.8t14.8x21.3x2.4x
Mon, 09 Dec 2024Rp12435.4tRp5146.7tRp570.7t14.7x21.8x2.4x
Wed, 06 Nov 2024Rp12297.2tRp5042.3tRp544.3t15.1x22.6x2.4x
Fri, 04 Oct 2024Rp12437.1tRp4959.2tRp526.1t15.8x23.6x2.5x
Sun, 01 Sep 2024Rp12958.7tRp4964.9tRp503.4t15.6x25.7x2.6x
Tue, 30 Jul 2024Rp12210.8tRp4986.6tRp501.9t14.9x24.3x2.4x
Thu, 27 Jun 2024Rp11658.6tRp5009.8tRp501.7t14.3x23.2x2.3x
Sat, 25 May 2024Rp12232.7tRp4984.0tRp504.3t14.7x24.3x2.5x
Mon, 22 Apr 2024Rp11571.3tRp4965.2tRp524.1t15.3x22.1x2.3x
Wed, 20 Mar 2024Rp11566.6tRp4942.4tRp598.8t14.7x19.3x2.3x
Fri, 16 Feb 2024Rp11373.2tRp4918.4tRp596.2t15x19.1x2.3x
Sun, 14 Jan 2024Rp11214.4tRp4937.2tRp583.1t15.2x19.2x2.3x
Tue, 12 Dec 2023Rp11243.1tRp4943.8tRp586.0t14.5x19.2x2.3x
Thu, 09 Nov 2023Rp10485.0tRp4972.6tRp609.9t14.7x17.2x2.1x
Sat, 07 Oct 2023Rp10016.0tRp4982.3tRp607.7t15.7x16.5x2x
Mon, 04 Sep 2023Rp10151.2tRp4967.8tRp615.8t16.2x16.5x2x
Wed, 02 Aug 2023Rp9880.0tRp4972.6tRp632.9t16.4x15.6x2x
Fri, 30 Jun 2023Rp9354.8tRp4911.2tRp607.1t15.8x15.4x1.9x
Sun, 28 May 2023Rp9365.9tRp4894.0tRp606.2t16.2x15.5x1.9x
Tue, 25 Apr 2023Rp9568.9tRp4829.1tRp616.4t15.5x15.5x2x
Price to Earnings Ratio

15.5x


Total Market Cap: Rp9568.9tTotal Earnings: Rp616.4tTotal Revenue: Rp4829.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Market Price to Earnings3Y Average 20.5x202420252026
Current Market PE
  • Investors are relatively neutral on the Indonesian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 20.5x.
Past Earnings Growth
  • The earnings for Indonesian listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have grown 4.3% 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 Market3.32%
Utilities12.71%
Industrials5.40%
Energy5.06%
Materials4.79%
Real Estate3.75%
Consumer Discretionary3.50%
Consumer Staples3.23%
Tech2.78%
Telecom0.89%
Healthcare-0.36%
Financials-1.19%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 127x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.9%, which is higher than its past year's earnings growth of 13.6% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 14.5x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 3.8% 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
BREN Barito Renewables EnergyRp6.63k14.2%
+Rp110.4t		18.3%PE390.3xUtilities
BRPT Barito PacificRp2.23k16.4%
+Rp29.5t		191.5%PE24.8xMaterials
CUAN Petrindo Jaya KreasiRp1.59k18.2%
+Rp27.5t		148.4%PE77.3xEnergy
MORA Mora Telematika IndonesiaRp5.68k20.2%
+Rp22.6t		1,238.4%PE299.2xTelecom
DSSA Dian Swastatika SentosaRp3.25k4.5%
+Rp21.7t		85.5%PE127xEnergy
See more

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BRPT
Rp2,230.00
Barito Pacific
7D
16.4%
1Y
191.5%
MSIN
Rp930.00
MNC Digital Entertainment
7D
-29.5%
1Y
75.5%
MORA
Rp5,675.00
Mora Telematika Indonesia
7D
20.2%
1Y
1,238.4%
MEGA
Rp2,730.00
Bank Mega
7D
-7.5%
1Y
55.1%
MLPT
Rp29,000.00
Multipolar Technology
7D
60.2%
1Y
-19.9%
BNBR
Rp220.00
Bakrie & Brothers
7D
48.6%
1Y
633.3%
CUAN
Rp1,590.00
Petrindo Jaya Kreasi
7D
18.2%
1Y
148.4%
CDIA
Rp1,170.00
Chandra Daya Investasi
7D
15.3%
1Y
n/a
TLKM
Rp3,100.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-3.4%
1Y
21.6%

TLKM: NeutraDC Stake Talks And Governance Events Will Shape Fairly Valued Outlook

Analysts now see Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's fair value holding at IDR 3,169.91, with the modest shifts in discount rate, revenue growth and profit margin assumptions resulting in only a slight tweak in the implied future P/E outlook. What's in the News M&A discussions are ongoing around a potential sale of a majority stake in Telkom Indonesia's data center unit, NeutraDC.
BMRI
Rp4,620.00
Bank Mandiri (Persero)
7D
-1.1%
1Y
0.4%

BMRI: Share Buyback Plan And Earnings Outlook Will Support Upside Potential

Analysts have set a slightly higher fair value price target for Bank Mandiri (Persero), increasing it from IDR 7,519.68 to IDR 7,660.38, citing updated assumptions related to revenue growth, discount rate, profit margin, and future P/E. What's in the News The Board of Directors of PT Bank Mandiri (Persero) Tbk authorized a share buyback plan on March 17, 2026, signaling an intention to repurchase its own shares within a defined framework (Key Developments).
BBCA
Rp6,425.00
Bank Central Asia
7D
-4.1%
1Y
-24.4%
BELI
Rp410.00
Global Digital Niaga
7D
-6.8%
1Y
-1.9%
DSSA
Rp3,250.00
Dian Swastatika Sentosa
7D
4.5%
1Y
85.5%
BREN
Rp6,625.00
Barito Renewables Energy
7D
14.2%
1Y
18.3%
SMMA
Rp13,975.00
Sinar Mas Multiartha
7D
-4.9%
1Y
-9.8%
DCII
Rp199,300.00
DCI Indonesia
7D
-1.3%
1Y
31.2%