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Indonesian (IDX) Market Analysis & Valuation

UpdatedMay 12, 2026
DataAggregated Company Financials
Companies843
  • 7D-1.8%
  • 3M-18.0%
  • 1Y-0.9%
  • YTD-24.5%

The market has dropped by 0.9% in the last 7 days, with the Utilities sector leading declines. Meanwhile, the Communication Services sector has outperformed, gaining 8.5% in that time. Although the market performance has been flat over the past year. As for the next few years, earnings are expected to grow by 4.7% 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
Tue, 12 May 2026Rp11784.2tRp5632.8tRp666.9t16.8x17.7x2.1x
Thu, 09 Apr 2026Rp12422.3tRp5469.7tRp642.6t17.4x19.3x2.3x
Sat, 07 Mar 2026Rp13254.9tRp5333.6tRp623.8t16.7x21.2x2.5x
Mon, 02 Feb 2026Rp14625.1tRp5312.4tRp620.9t18.4x23.6x2.8x
Wed, 31 Dec 2025Rp15400.2tRp5317.6tRp621.9t18.6x24.8x2.9x
Fri, 28 Nov 2025Rp15260.6tRp5337.7tRp612.8t18x24.9x2.9x
Sun, 26 Oct 2025Rp14793.8tRp5265.7tRp629.0t17x23.5x2.8x
Tue, 23 Sep 2025Rp14246.5tRp5277.1tRp630.3t16.9x22.6x2.7x
Thu, 21 Aug 2025Rp13871.1tRp5220.8tRp639.0t15.7x21.7x2.7x
Sat, 19 Jul 2025Rp12647.4tRp5138.3tRp625.5t15.1x20.2x2.5x
Mon, 16 Jun 2025Rp12220.2tRp5136.3tRp627.0t15.4x19.5x2.4x
Wed, 14 May 2025Rp11612.4tRp5172.6tRp634.3t15.2x18.3x2.2x
Fri, 11 Apr 2025Rp10460.0tRp5197.1tRp633.9t13.8x16.5x2x
Sun, 09 Mar 2025Rp11272.1tRp5133.4tRp551.4t14.3x20.4x2.2x
Tue, 04 Feb 2025Rp11907.8tRp5174.7tRp578.8t14.8x20.6x2.3x
Thu, 02 Jan 2025Rp12098.8tRp5169.6tRp572.5t14.6x21.1x2.3x
Sat, 30 Nov 2024Rp11818.1tRp5065.7tRp550.3t14.3x21.5x2.3x
Mon, 28 Oct 2024Rp12680.3tRp4974.8tRp529.7t16x23.9x2.5x
Wed, 25 Sep 2024Rp12789.1tRp4947.6tRp524.5t16x24.4x2.6x
Fri, 23 Aug 2024Rp12538.1tRp4974.1tRp502.5t15x25x2.5x
Sun, 21 Jul 2024Rp12165.4tRp4962.8tRp494.4t15.1x24.6x2.5x
Tue, 18 Jun 2024Rp11357.6tRp5010.0tRp502.0t14.1x22.6x2.3x
Thu, 16 May 2024Rp11784.8tRp4986.7tRp508.1t14.5x23.2x2.4x
Sat, 13 Apr 2024Rp11692.1tRp4932.7tRp520.1t15.3x22.5x2.4x
Mon, 11 Mar 2024Rp11674.3tRp4890.8tRp591.2t14.4x19.7x2.4x
Wed, 07 Feb 2024Rp11393.7tRp4928.4tRp598.2t14.9x19x2.3x
Fri, 05 Jan 2024Rp11672.3tRp4931.8tRp582.2t15.3x20x2.4x
Sun, 03 Dec 2023Rp10939.5tRp4921.7tRp586.2t15.1x18.7x2.2x
Tue, 31 Oct 2023Rp10411.6tRp5003.4tRp614.6t15.2x16.9x2.1x
Thu, 28 Sep 2023Rp10159.8tRp4985.9tRp619.0t15.9x16.4x2x
Sat, 26 Aug 2023Rp10032.0tRp4979.2tRp620.2t15.9x16.2x2x
Mon, 24 Jul 2023Rp9811.0tRp4967.0tRp625.7t16.5x15.7x2x
Wed, 21 Jun 2023Rp9330.5tRp4908.0tRp604.5t15.6x15.4x1.9x
Fri, 19 May 2023Rp9334.0tRp4887.5tRp604.5t16.1x15.4x1.9x
Price to Earnings Ratio

15.4x


Total Market Cap: Rp9334.0tTotal Earnings: Rp604.5tTotal Revenue: Rp4887.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Market Price to Earnings3Y Average 20.6x202420252026
Current Market PE
  • Investors are pessimistic on the Indonesian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 17.7x which is lower than its 3-year average PE of 20.6x.
Past Earnings Growth
  • The earnings for Indonesian listed companies have grown 3.3% per year over the last three years.
  • Revenues for these companies have grown 4.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Indonesian Market?

ID Market-1.79%
Telecom8.53%
Tech4.62%
Financials2.07%
Consumer Staples0.15%
Healthcare-1.13%
Real Estate-1.16%
Consumer Discretionary-1.30%
Industrials-3.74%
Materials-5.17%
Energy-7.50%
Utilities-13.30%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 129x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.7%, which is higher than its past year's earnings growth of 1.4% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 14.4x.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 10% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 13% 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
MORA Mora Telematika IndonesiaRp7.65k57.4%
+Rp66.0t		1,721.4%PE382.7xTelecom
BBCA Bank Central AsiaRp6.13k2.9%
+Rp21.5t		-31.9%PB2.9xFinancials
DCII DCI IndonesiaRp203.00k2.4%
+Rp11.3t		28.2%PE503.9xTech
BBRI Bank Rakyat Indonesia (Persero)Rp3.22k2.2%
+Rp10.5t		-16.1%PB1.4xFinancials
ISAT Indosat Ooredoo HutchisonRp2.35k11.4%
+Rp7.7t		29.1%PE13.3xTelecom
See more

Market Insights

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Latest News

ISAT
Rp2,350.00
Indosat Ooredoo Hutchison
7D
11.4%
1Y
29.1%
BREN
Rp3,610.00
Barito Renewables Energy
7D
-23.7%
1Y
-39.8%
TPIA
Rp5,050.00
Chandra Asri Pacific
7D
-16.9%
1Y
-40.8%
BBRI
Rp3,220.00
Bank Rakyat Indonesia (Persero)
7D
2.2%
1Y
-16.1%
DSSA
Rp1,165.00
Dian Swastatika Sentosa
7D
-21.5%
1Y
-41.0%
TLKM
Rp2,950.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
2.4%
1Y
13.5%
Narrative Update • May 08

TLKM: Share Buyback And Data Center Stake Sale Will Unlock Value

Analysts keep the fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia steady at IDR 4,500, with modest tweaks to revenue growth, profit margin, and future P/E assumptions shaping the updated price target narrative. What's in the News The company announced a share repurchase program to buy back up to 10% of its issued share capital, with a total allocation of IDR 1,000,000 million funded from existing cash, subject to shareholder approval at a General Meeting scheduled for June 8, 2026 (company announcement).
AMMN
Rp4,070.00
Amman Mineral Internasional
7D
-21.4%
1Y
-44.1%
BBCA
Rp6,125.00
Bank Central Asia
7D
2.9%
1Y
-31.9%
MORA
Rp7,650.00
Mora Telematika Indonesia
7D
57.4%
1Y
1,721.4%
SRAJ
Rp13,000.00
Sejahteraraya Anugrahjaya
7D
-8.5%
1Y
333.3%
BYAN
Rp11,400.00
Bayan Resources
7D
2.0%
1Y
-43.6%
BMRI
Rp4,240.00
Bank Mandiri (Persero)
7D
-5.6%
1Y
-11.1%
CDIA
Rp1,060.00
Chandra Daya Investasi
7D
-10.9%
1Y
n/a
CUAN
Rp945.00
Petrindo Jaya Kreasi
7D
-27.3%
1Y
7.7%
DCII
Rp203,000.00
DCI Indonesia
7D
2.4%
1Y
28.2%
SMMA
Rp16,975.00
Sinar Mas Multiartha
7D
6.1%
1Y
7.4%