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Indonesian (IDX) Financials Sector Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies107
  • 7D2.2%
  • 3M-4.0%
  • 1Y0.3%
  • YTD-2.0%

Over the last 7 days, the Financials industry has risen 2.2%, driven by gains from Bank Mandiri (Persero) of 5.9%. Meanwhile, Indokripto Koin Semesta actually underperformed within the industry, shrinking 8.5% in the last week. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 8.0% per annum.

Sector Valuation and Performance

Has the Indonesian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026Rp3264.2tRp736.8tRp247.6t17.5x13.2x4.4x
Fri, 23 Jan 2026Rp3330.0tRp730.9tRp241.2t18x13.8x4.6x
Sun, 21 Dec 2025Rp3375.3tRp734.4tRp242.8t17.9x13.9x4.6x
Tue, 18 Nov 2025Rp3359.1tRp729.8tRp241.6t16.3x13.9x4.6x
Thu, 16 Oct 2025Rp3053.9tRp730.1tRp248.2t15.7x12.3x4.2x
Sat, 13 Sep 2025Rp3251.2tRp728.1tRp251.2t17.1x12.9x4.5x
Mon, 11 Aug 2025Rp3199.7tRp727.2tRp251.1t15.8x12.7x4.4x
Wed, 09 Jul 2025Rp3158.0tRp716.7tRp249.7t18.7x12.6x4.4x
Fri, 06 Jun 2025Rp3329.2tRp717.0tRp249.8t18.5x13.3x4.6x
Sun, 04 May 2025Rp3296.1tRp718.7tRp250.2t19.7x13.2x4.6x
Tue, 01 Apr 2025Rp3244.9tRp715.7tRp252.9t19.1x12.8x4.5x
Thu, 27 Feb 2025Rp3235.5tRp714.4tRp252.4t18.5x12.8x4.5x
Sat, 25 Jan 2025Rp3484.6tRp698.9tRp253.0t19.6x13.8x5x
Mon, 23 Dec 2024Rp3430.7tRp725.0tRp253.5t19x13.5x4.7x
Wed, 20 Nov 2024Rp3622.1tRp724.9tRp253.8t19.7x14.3x5x
Fri, 18 Oct 2024Rp3950.5tRp711.4tRp243.3t20.5x16.2x5.6x
Sun, 15 Sep 2024Rp3944.2tRp712.0tRp243.4t20.1x16.2x5.5x
Tue, 13 Aug 2024Rp3716.9tRp711.3tRp242.8t18.8x15.3x5.2x
Thu, 11 Jul 2024Rp3640.3tRp703.8tRp240.4t18.5x15.1x5.2x
Sat, 08 Jun 2024Rp3483.1tRp703.8tRp240.4t18.1x14.5x4.9x
Mon, 06 May 2024Rp3580.4tRp702.4tRp241.1t19.9x14.9x5.1x
Wed, 03 Apr 2024Rp3880.6tRp670.9tRp241.2t19.1x16.1x5.8x
Fri, 01 Mar 2024Rp3962.1tRp671.3tRp240.9t17.9x16.4x5.9x
Sun, 28 Jan 2024Rp3706.8tRp667.3tRp230.3t18x16.1x5.6x
Tue, 26 Dec 2023Rp3642.0tRp667.1tRp229.7t17.2x15.9x5.5x
Thu, 23 Nov 2023Rp3495.0tRp666.2tRp229.2t17.1x15.2x5.2x
Sat, 21 Oct 2023Rp3399.9tRp654.9tRp224.1t16.8x15.2x5.2x
Mon, 18 Sep 2023Rp3530.2tRp655.2tRp224.4t17x15.7x5.4x
Wed, 16 Aug 2023Rp3643.7tRp652.4tRp223.0t18.3x16.3x5.6x
Fri, 14 Jul 2023Rp3541.7tRp646.5tRp216.6t19.4x16.4x5.5x
Sun, 11 Jun 2023Rp3470.8tRp646.5tRp216.5t17.2x16x5.4x
Tue, 09 May 2023Rp3388.3tRp650.0tRp215.0t19x15.8x5.2x
Thu, 06 Apr 2023Rp3123.6tRp633.7tRp206.0t16.3x15.2x4.9x
Sat, 04 Mar 2023Rp3298.4tRp632.6tRp218.9t17x15.1x5.2x
Price to Earnings Ratio

15.1x


Total Market Cap: Rp3298.4tTotal Earnings: Rp218.9tTotal Revenue: Rp632.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Financials Sector Price to Earnings3Y Average 14.7x202420252026
Current Industry PE
  • Investors are pessimistic on the Indonesian Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 13.2x which is lower than its 3-year average PE of 14.7x.
  • The 3-year average PS ratio of 5.0x is higher than the industry's current PS ratio of 4.4x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 4.2% per year over the last three years.
  • Revenues for these companies have grown 5.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indonesian Financials sector?

ID Market0.24%
Financials2.20%
Consumer Finance4.14%
Banks2.44%
Diversified Financial2.24%
Insurance1.09%
Mortgage REITs0%0
Capital Markets-3.11%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 38.1x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 8.2% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Banks industry is expected to see its earnings grow by 8.0% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
BBRI Bank Rakyat Indonesia (Persero)Rp3.97k3.7%
+Rp21.1t		3.9%PB1.8x
MEGA Bank MegaRp4.84k47.1%
+Rp18.2t		33.7%PB2.3x
BBCA Bank Central AsiaRp7.33k0.7%
+Rp6.2t		-16.5%PB3.2x
BMRI Bank Mandiri (Persero)Rp5.30k0.5%
+Rp2.3t		7.7%PB1.7x
BDMN Bank Danamon IndonesiaRp2.83k6.4%
+Rp1.7t		16.5%PB0.5x

Latest News

BPII
Rp486.00
Batavia Prosperindo Internasional
7D
-14.0%
1Y
-9.2%
MEGA
Rp4,840.00
Bank Mega
7D
47.1%
1Y
33.7%
BBRI
Rp3,970.00
Bank Rakyat Indonesia (Persero)
7D
3.7%
1Y
3.9%

BBRI: Lower Margin Assumptions Will Constrain Future Return Potential

Analysts have slightly revised their price target for Bank Rakyat Indonesia (Persero), with the updated fair value now at IDR 3,264.28. This reflects small tweaks to assumptions around the discount rate, revenue growth, profit margin, and future P/E.
BDMN
Rp2,830.00
Bank Danamon Indonesia
7D
6.4%
1Y
16.5%
BMRI
Rp5,300.00
Bank Mandiri (Persero)
7D
0.5%
1Y
7.7%

BMRI: New Industrial Branch And Higher Margins Will Support Earnings Upside

Analysts have lifted their price target for Bank Mandiri (Persero) to IDR 7,520 from IDR 7,215, reflecting updated views that factor in a slightly lower discount rate, a higher projected profit margin, and a modestly lower future P/E multiple. What's in the News Bank Mandiri inaugurated a new branch office at PT OKI Pulp & Paper Mills, a business unit of APP Group, on November 24, 2025.
BFIN
Rp775.00
BFI Finance Indonesia
7D
9.2%
1Y
-12.9%
BBCA
Rp7,325.00
Bank Central Asia
7D
0.7%
1Y
-16.5%
BSIM
Rp1,055.00
Bank Sinarmas
7D
-3.2%
1Y
23.4%
LIFE
Rp8,400.00
MSIG Life Insurance Indonesia
7D
6.3%
1Y
38.8%
PNLF
Rp274.00
Panin Financial
7D
-4.2%
1Y
-18.9%
SUPA
Rp1,060.00
Super Bank Indonesia
7D
4.4%
1Y
n/a
CASA
Rp1,375.00
Capital Financial Indonesia
7D
-1.4%
1Y
82.1%
COIN
Rp1,670.00
Indokripto Koin Semesta
7D
-15.0%
1Y
n/a
BBMD
Rp1,970.00
Bank Mestika Dharma
7D
-3.0%
1Y
10.4%
ARTO
Rp1,635.00
Bank Jago
7D
-3.3%
1Y
-14.4%
MASB
Rp3,150.00
Bank Multiarta Sentosa
7D
-7.4%
1Y
-2.8%