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Indonesian (IDX) Market Analysis & Valuation

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies842
  • 7D-0.9%
  • 3M-6.0%
  • 1Y32.4%
  • YTD-7.4%

The market has been flat in the last week, however the Energy sector is down 4.5%. More promisingly, the market is up 32% over the past year. As for the next few years, earnings are expected to grow by 16% 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
Sun, 01 Mar 2026Rp14391.4tRp5405.0tRp624.8t17.9x23x2.7x
Tue, 27 Jan 2026Rp15867.8tRp5313.6tRp620.1t19.5x25.6x3x
Thu, 25 Dec 2025Rp15162.6tRp5315.6tRp621.6t18.1x24.4x2.9x
Sat, 22 Nov 2025Rp15003.3tRp5342.7tRp613.7t17.8x24.4x2.8x
Mon, 20 Oct 2025Rp14315.3tRp5262.7tRp628.3t16.3x22.8x2.7x
Wed, 17 Sep 2025Rp13969.4tRp5243.0tRp630.7t16.3x22.1x2.7x
Fri, 15 Aug 2025Rp13908.8tRp5206.9tRp658.3t15.4x21.1x2.7x
Sun, 13 Jul 2025Rp12064.3tRp5131.7tRp624.7t14.8x19.3x2.4x
Tue, 10 Jun 2025Rp12103.0tRp5135.7tRp626.5t15.4x19.3x2.4x
Thu, 08 May 2025Rp11791.9tRp5169.2tRp633.6t15.4x18.6x2.3x
Sat, 05 Apr 2025Rp10930.7tRp5161.6tRp633.0t14.3x17.3x2.1x
Mon, 03 Mar 2025Rp10700.6tRp5218.8tRp579.1t14.2x18.5x2.1x
Wed, 29 Jan 2025Rp12213.6tRp5154.2tRp576.3t15.2x21.2x2.4x
Fri, 27 Dec 2024Rp12058.0tRp5176.2tRp573.2t14.4x21x2.3x
Sun, 24 Nov 2024Rp11865.0tRp5060.9tRp545.4t14.7x21.8x2.3x
Tue, 22 Oct 2024Rp12814.5tRp4965.4tRp526.4t16.3x24.3x2.6x
Thu, 19 Sep 2024Rp13174.8tRp4957.1tRp505.8t16x26x2.7x
Sat, 17 Aug 2024Rp12376.3tRp4972.6tRp503.7t15.1x24.6x2.5x
Mon, 15 Jul 2024Rp12331.1tRp4958.7tRp495.4t14.8x24.9x2.5x
Wed, 12 Jun 2024Rp11483.0tRp5002.8tRp501.9t14.4x22.9x2.3x
Fri, 10 May 2024Rp11773.9tRp4994.8tRp510.4t15x23.1x2.4x
Sun, 07 Apr 2024Rp11692.0tRp4896.7tRp522.4t15.1x22.4x2.4x
Tue, 05 Mar 2024Rp11508.3tRp4905.2tRp598.0t14.5x19.2x2.3x
Thu, 01 Feb 2024Rp11285.7tRp4956.5tRp586.6t14.9x19.2x2.3x
Sat, 30 Dec 2023Rp11541.3tRp4924.3tRp583.5t15x19.8x2.3x
Mon, 27 Nov 2023Rp10937.7tRp4963.2tRp602.3t15.1x18.2x2.2x
Wed, 25 Oct 2023Rp10324.9tRp5004.9tRp611.8t15.2x16.9x2.1x
Fri, 22 Sep 2023Rp10221.1tRp4971.9tRp616.7t16x16.6x2.1x
Sun, 20 Aug 2023Rp9938.1tRp4992.6tRp628.5t16.1x15.8x2x
Tue, 18 Jul 2023Rp9776.8tRp4965.2tRp625.6t16x15.6x2x
Thu, 15 Jun 2023Rp9404.2tRp4897.2tRp603.0t15.7x15.6x1.9x
Sat, 13 May 2023Rp9444.4tRp4869.0tRp618.2t16x15.3x1.9x
Mon, 10 Apr 2023Rp9357.7tRp4774.8tRp604.1t14.3x15.5x2x
Wed, 08 Mar 2023Rp9265.2tRp4727.4tRp638.5t14.3x14.5x2x
Price to Earnings Ratio

14.5x


Total Market Cap: Rp9265.2tTotal Earnings: Rp638.5tTotal Revenue: Rp4727.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Market Price to Earnings3Y Average 20.3x202420252026
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 23.0x which is higher than its 3-year average PE of 20.3x.
Past Earnings Growth
  • The earnings for Indonesian listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have grown 4.6% 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-0.88%
Industrials1.91%
Financials0.75%
Utilities0.67%
Healthcare-0.19%
Materials-0.33%
Consumer Staples-1.11%
Telecom-1.37%
Consumer Discretionary-1.57%
Tech-2.08%
Real Estate-4.28%
Energy-4.45%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 122x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.0%, which is higher than its past year's earnings growth of 7.0% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 14.7x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • In contrast, the Financials sector 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 Price7D1YValuationSector
BREN Barito Renewables EnergyRp8.23k2.2%
+Rp23.4t		34.3%PE459.9xUtilities
BNBR Bakrie & BrothersRp214.0076.9%
+Rp16.1t		590.3%PS9.8xIndustrials
MEGA Bank MegaRp4.65k40.5%
+Rp15.7t		31.0%PB2.2xFinancials
BMRI Bank Mandiri (Persero)Rp5.28k2.9%
+Rp14.0t		14.7%PB1.7xFinancials
TKIM Pabrik Kertas Tjiwi KimiaRp11.00k50.7%
+Rp11.5t		134.0%PE5xMaterials
See more

Market Insights

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In many ways, the market is upside down. This new setting might offer some unexpected opportunities for investors.
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INKP
Rp11,600.00
Indah Kiat Pulp & Paper
7D
18.4%
1Y
146.8%
MLPT
Rp28,075.00
Multipolar Technology
7D
-19.8%
1Y
-29.8%
BBRI
Rp3,910.00
Bank Rakyat Indonesia (Persero)
7D
1.8%
1Y
16.4%
TKIM
Rp11,000.00
Pabrik Kertas Tjiwi Kimia
7D
50.7%
1Y
134.0%
MEGA
Rp4,650.00
Bank Mega
7D
40.5%
1Y
31.0%
INCO
Rp7,900.00
Vale Indonesia
7D
14.5%
1Y
171.5%

INCO: Rich Multiple And Slight Assumption Tweaks Will Likely Limit Upside

Analysts have nudged their price target for Vale Indonesia slightly higher to IDR3,501.68 from IDR3,490.24, citing updated assumptions for revenue growth, profit margins, the discount rate and future P/E multiples. Valuation Changes Fair Value: Updated from IDR3,490.24 to IDR3,501.68, reflecting a small upward adjustment in the model output.
BMRI
Rp5,275.00
Bank Mandiri (Persero)
7D
2.9%
1Y
14.7%

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.
BREN
Rp8,225.00
Barito Renewables Energy
7D
2.2%
1Y
34.3%
CUAN
Rp1,600.00
Petrindo Jaya Kreasi
7D
-7.8%
1Y
138.8%
IMPC
Rp2,150.00
Impack Pratama Industri
7D
-10.0%
1Y
602.6%
AMMN
Rp7,650.00
Amman Mineral Internasional
7D
-3.2%
1Y
16.8%
BNBR
Rp214.00
Bakrie & Brothers
7D
76.9%
1Y
590.3%
BUMI
Rp258.00
Bumi Resources
7D
-12.2%
1Y
174.5%
DSSA
Rp78,925.00
Dian Swastatika Sentosa
7D
-9.3%
1Y
155.6%
PANI
Rp9,525.00
Pantai Indah Kapuk Dua
7D
-8.6%
1Y
-13.4%
MORA
Rp6,250.00
Mora Telematika Indonesia
7D
-15.5%
1Y
1,527.6%