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Indonesian (IDX) Market Analysis & Valuation

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies842
  • 7D-1.4%
  • 3M-6.3%
  • 1Y27.8%
  • YTD-7.8%

Over the last 7 days, the market has remained flat, although notably the Utilities sector declined by 4.5%. Meanwhile, the market is actually up 27% over the past year. As for the next few years, earnings are expected to grow by 15% 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
Fri, 27 Feb 2026Rp14343.8tRp5406.5tRp625.3t17.8x22.9x2.7x
Sun, 25 Jan 2026Rp15810.6tRp5318.4tRp620.6t20x25.5x3x
Tue, 23 Dec 2025Rp15356.4tRp5318.3tRp621.9t18.3x24.7x2.9x
Thu, 20 Nov 2025Rp14961.0tRp5342.4tRp613.6t17.8x24.4x2.8x
Sat, 18 Oct 2025Rp14564.2tRp5264.1tRp628.4t16.3x23.2x2.8x
Mon, 15 Sep 2025Rp13727.3tRp5242.2tRp630.6t16.2x21.8x2.6x
Wed, 13 Aug 2025Rp13621.7tRp5221.0tRp658.4t15.1x20.7x2.6x
Fri, 11 Jul 2025Rp12055.7tRp5134.4tRp626.0t15x19.3x2.3x
Sun, 08 Jun 2025Rp12103.0tRp5135.7tRp627.2t15.4x19.3x2.4x
Tue, 06 May 2025Rp11618.6tRp5164.0tRp633.2t15.4x18.3x2.2x
Thu, 03 Apr 2025Rp10931.1tRp5162.7tRp633.9t14.3x17.2x2.1x
Sat, 01 Mar 2025Rp10702.9tRp5198.0tRp576.3t14.2x18.6x2.1x
Mon, 27 Jan 2025Rp12212.2tRp5151.7tRp575.5t15.2x21.2x2.4x
Wed, 25 Dec 2024Rp12057.0tRp5176.3tRp573.2t14.3x21x2.3x
Fri, 22 Nov 2024Rp11794.6tRp5064.8tRp545.5t14.8x21.6x2.3x
Sun, 20 Oct 2024Rp12806.2tRp4963.8tRp526.2t16.3x24.3x2.6x
Tue, 17 Sep 2024Rp13235.7tRp4962.1tRp506.4t15.7x26.1x2.7x
Thu, 15 Aug 2024Rp12433.4tRp4972.8tRp504.4t15x24.6x2.5x
Sat, 13 Jul 2024Rp12303.2tRp4958.3tRp495.2t14.8x24.8x2.5x
Mon, 10 Jun 2024Rp11363.9tRp4996.2tRp501.2t14.3x22.7x2.3x
Wed, 08 May 2024Rp11837.6tRp4994.9tRp510.9t15x23.2x2.4x
Fri, 05 Apr 2024Rp11547.3tRp4896.7tRp524.1t14.9x22x2.4x
Sun, 03 Mar 2024Rp11556.3tRp4903.3tRp597.6t14.6x19.3x2.4x
Tue, 30 Jan 2024Rp11237.0tRp4960.4tRp586.5t14.8x19.2x2.3x
Thu, 28 Dec 2023Rp11537.3tRp4925.2tRp583.6t14.8x19.8x2.3x
Sat, 25 Nov 2023Rp10950.6tRp4965.9tRp602.7t15.1x18.2x2.2x
Mon, 23 Oct 2023Rp10496.5tRp5004.9tRp611.8t15.3x17.2x2.1x
Wed, 20 Sep 2023Rp10194.8tRp4972.1tRp616.7t16x16.5x2.1x
Fri, 18 Aug 2023Rp9977.8tRp4993.5tRp628.4t15.9x15.9x2x
Sun, 16 Jul 2023Rp9784.0tRp4960.5tRp624.9t16x15.7x2x
Tue, 13 Jun 2023Rp9393.7tRp4895.6tRp602.8t15.7x15.6x1.9x
Thu, 11 May 2023Rp9509.8tRp4858.5tRp614.0t16x15.5x2x
Sat, 08 Apr 2023Rp9355.4tRp4771.7tRp605.2t14.1x15.5x2x
Mon, 06 Mar 2023Rp9272.4tRp4723.1tRp637.7t14.3x14.5x2x
Price to Earnings Ratio

14.5x


Total Market Cap: Rp9272.4tTotal Earnings: Rp637.7tTotal Revenue: Rp4723.1tTotal 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 23.2x 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 4.1% 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-1.38%
Financials2.45%
Industrials0.48%
Healthcare-0.11%
Telecom-0.52%
Tech-1.10%
Materials-1.82%
Consumer Staples-2.76%
Consumer Discretionary-3.03%
Utilities-3.74%
Energy-4.26%
Real Estate-5.62%
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 21.4%, 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 close to its 3-year average of 14.7x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 23% 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
BBRI Bank Rakyat Indonesia (Persero)Rp3.95k4.8%
+Rp27.1t		8.8%PB1.8xFinancials
BMRI Bank Mandiri (Persero)Rp5.33k4.9%
+Rp23.3t		14.3%PB1.7xFinancials
MEGA Bank MegaRp4.86k48.6%
+Rp18.7t		35.0%PB2.3xFinancials
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.65k4.9%
+Rp16.8t		46.6%PE16.6xTelecom
BBCA Bank Central AsiaRp7.30k1.7%
+Rp15.4t		-14.4%PB3.2xFinancials
See more

Market Insights

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Latest News

BBRI
Rp3,950.00
Bank Rakyat Indonesia (Persero)
7D
4.8%
1Y
8.8%
TKIM
Rp10,975.00
Pabrik Kertas Tjiwi Kimia
7D
48.3%
1Y
117.3%
MEGA
Rp4,860.00
Bank Mega
7D
48.6%
1Y
35.0%
TLKM
Rp3,650.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
4.9%
1Y
46.6%

TLKM: Governance Changes And Share Buybacks Will Shape Fairly Valued Outlook

Analysts have slightly raised their IDR fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia from IDR 3,106.86 to IDR 3,167.87, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E levels. What's in the News The company approved amendments to its Articles of Association at an Extraordinary General Meeting held on December 12, 2025, signaling changes to its formal governance framework (Key Developments).
BMRI
Rp5,325.00
Bank Mandiri (Persero)
7D
4.9%
1Y
14.3%

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.
CDIA
Rp1,040.00
Chandra Daya Investasi
7D
-11.9%
1Y
n/a
TPIA
Rp6,950.00
Chandra Asri Pacific
7D
2.6%
1Y
-7.9%
BBCA
Rp7,300.00
Bank Central Asia
7D
1.7%
1Y
-14.4%
BREN
Rp7,850.00
Barito Renewables Energy
7D
-3.1%
1Y
26.6%
IMPC
Rp2,020.00
Impack Pratama Industri
7D
-14.8%
1Y
539.2%
AMMN
Rp7,300.00
Amman Mineral Internasional
7D
-4.9%
1Y
5.8%
FILM
Rp7,900.00
PT.MD Entertainment
7D
15.3%
1Y
105.7%
BUMI
Rp258.00
Bumi Resources
7D
-14.0%
1Y
158.0%
DSSA
Rp83,000.00
Dian Swastatika Sentosa
7D
-6.5%
1Y
155.4%
PANI
Rp9,500.00
Pantai Indah Kapuk Dua
7D
-12.0%
1Y
-15.2%
MORA
Rp6,250.00
Mora Telematika Indonesia
7D
-16.7%
1Y
1,502.6%