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Indonesian (IDX) Utilities Sector Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies11
  • 7D-1.9%
  • 3M1.9%
  • 1Y-1.0%
  • YTD-1.9%

Over the last 7 days, the Utilities industry has dropped 2.9%, driven by Barito Renewables Energy declining 2.1%. In contrast, Perusahaan Gas Negara has gained 6.9%. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026Rp1608.8tRp96.4tRp12.5t46.5x128.7x16.7x
Sun, 21 Dec 2025Rp1597.4tRp95.7tRp12.4t43.7x128.8x16.7x
Tue, 18 Nov 2025Rp1644.2tRp95.7tRp12.4t44.8x132.5x17.2x
Thu, 16 Oct 2025Rp1616.6tRp94.2tRp12.2t47x133x17.2x
Sat, 13 Sep 2025Rp1436.9tRp92.8tRp11.1t41.3x129.1x15.5x
Mon, 11 Aug 2025Rp1388.1tRp90.7tRp10.8t41.6x129x15.3x
Wed, 09 Jul 2025Rp919.4tRp90.5tRp10.8t26.4x84.8x10.2x
Fri, 06 Jun 2025Rp967.4tRp89.1tRp10.4t25.4x93.2x10.9x
Sun, 04 May 2025Rp912.3tRp89.7tRp10.4t23.9x87.9x10.2x
Tue, 01 Apr 2025Rp823.9tRp90.2tRp11.7t18.6x70.3x9.1x
Thu, 27 Feb 2025Rp954.4tRp88.9tRp11.6t13x82.3x10.7x
Sat, 25 Jan 2025Rp1383.4tRp87.8tRp11.4t14x121.3x15.8x
Mon, 23 Dec 2024Rp1325.1tRp87.8tRp11.4t15.2x116.3x15.1x
Wed, 20 Nov 2024Rp1012.7tRp85.8tRp11.1t16.6x90.9x11.8x
Fri, 18 Oct 2024Rp1063.3tRp82.8tRp10.3t18.7x103.5x12.8x
Sun, 15 Sep 2024Rp1674.7tRp82.3tRp10.2t18.1x164x20.3x
Tue, 13 Aug 2024Rp1233.2tRp84.7tRp10.5t19.1x117.6x14.6x
Thu, 11 Jul 2024Rp1420.0tRp86.1tRp10.7t19.6x132.9x16.5x
Sat, 08 Jun 2024Rp999.7tRp85.9tRp10.7t18.4x93.8x11.6x
Mon, 06 May 2024Rp1425.0tRp85.1tRp10.6t19.1x134.5x16.7x
Wed, 03 Apr 2024Rp862.2tRp84.0tRp10.5t14.1x82.4x10.3x
Fri, 01 Mar 2024Rp904.2tRp73.4tRp7.7t16.6x117.2x12.3x
Sun, 28 Jan 2024Rp795.0tRp73.8tRp7.8t16.1x102.4x10.8x
Tue, 26 Dec 2023Rp1095.3tRp71.9tRp7.6t10.9x144.5x15.2x
Thu, 23 Nov 2023Rp999.6tRp72.4tRp7.6t12.2x131.1x13.8x
Sat, 21 Oct 2023Rp648.9tRp73.5tRp7.8t18.1x83.6x8.8x
Mon, 18 Sep 2023Rp109.3tRp71.2tRp7.5t19.4x14.5x1.5x
Wed, 16 Aug 2023Rp89.2tRp71.9tRp8.4t15.1x10.6x1.2x
Fri, 14 Jul 2023Rp80.7tRp70.1tRp8.0t14x10.1x1.2x
Sun, 11 Jun 2023Rp85.1tRp69.8tRp8.0t14.4x10.7x1.2x
Tue, 09 May 2023Rp81.4tRp68.8tRp7.6t16.1x10.6x1.2x
Thu, 06 Apr 2023Rp75.7tRp65.7tRp8.2t12.3x9.3x1.2x
Sat, 04 Mar 2023Rp88.8tRp67.6tRp8.4t13.8x10.6x1.3x
Mon, 30 Jan 2023Rp52.5tRp60.2tRp6.4t10.6x8.2x0.9x
Price to Earnings Ratio

8.2x


Total Market Cap: Rp52.5tTotal Earnings: Rp6.4tTotal Revenue: Rp60.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Utilities Sector Price to Earnings3Y Average 87.9x202420252026
Current Industry PE
  • Investors are optimistic on the Indonesian Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 126x which is higher than its 3-year average PE of 87.8x.
  • The 3-year average PS ratio of 10.6x is lower than the industry's current PS ratio of 16.3x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 25% per year over the last three years.
  • Revenues for these companies have grown 17% 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 Utilities sector?

ID Market-0.68%
Utilities-1.90%
Gas Utilities6.89%
Electric Utilities0%0
Renewable Energy-2.07%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 156x.
    • Analysts are expecting annual earnings growth of 16.1%, which is higher than its past year's earnings decline of 18.9% per year.
  • Investors are most pessimistic about the Gas Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 7.9x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 19% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 2.6% 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
PGAS Perusahaan Gas NegaraRp2.27k12.4%
+Rp6.1t		37.6%PE10.4x
ARKO PT. Arkora HydroRp11.83k10.0%
+Rp3.1t		1,070.8%PE707.8x
KEEN Kencana Energi LestariRp1.21k18.1%
+Rp678.3b		84.0%PE78.2x
POWR Cikarang ListrindoRp715.000.7%
+Rp79.1b		7.5%PE11.2x
CGAS Citra Nusantara GemilangRp193.001.0%
+Rp3.5b		99.0%PE35.8x

Latest News

ARKO
Rp11,825.00
PT. Arkora Hydro
7D
10.0%
1Y
1,070.8%
KEEN
Rp1,205.00
Kencana Energi Lestari
7D
18.1%
1Y
84.0%
MPOW
Rp124.00
Megapower Makmur
7D
-1.6%
1Y
22.8%
BREN
Rp9,300.00
Barito Renewables Energy
7D
-4.1%
1Y
-3.1%
CGAS
Rp193.00
Citra Nusantara Gemilang
7D
1.0%
1Y
99.0%
HGII
Rp159.00
Hero Global Investment
7D
-3.6%
1Y
-25.7%
POWR
Rp715.00
Cikarang Listrindo
7D
0.7%
1Y
7.5%
CDIA
Rp1,415.00
Chandra Daya Investasi
7D
-7.2%
1Y
n/a
PGEO
Rp1,205.00
Pertamina Geothermal Energy
7D
-7.3%
1Y
20.5%
PGAS
Rp2,270.00
Perusahaan Gas Negara
7D
12.4%
1Y
37.6%
LAPD
Rp149.00
Leyand International
7D
-0.7%
1Y
645.0%