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Indonesian (IDX) Market Analysis & Valuation

UpdatedSep 15, 2026
DataAggregated Company Financials
Companies844
  • 7D-1.7%
  • 3M3.9%
  • 1Y-22.0%
  • YTD-30.6%

Over the last 7 days, the market has dropped 1.3%, driven by a pullback of 2.7% in the Financials sector. In contrast, the Healthcare sector has actually gained 7.1%. In the last 12 months the market is down 21%. As for the next few years, earnings are expected to grow by 18% per annum.

Trending IndustriesOil and GasGoldSoftwareRenewable Energy

Market Valuation and Performance

Has the Indonesian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 15 Sep 2026Rp11071.1tRp5867.9tRp672.3t14.8x16.5x1.9x
Thu, 13 Aug 2026Rp10882.7tRp5874.6tRp675.6t14.2x16.1x1.9x
Sat, 11 Jul 2026Rp10105.9tRp5749.0tRp686.6t14.3x14.7x1.8x
Mon, 08 Jun 2026Rp9448.0tRp5720.6tRp671.2t13.4x14.1x1.7x
Wed, 06 May 2026Rp12226.9tRp5635.9tRp667.0t16.9x18.3x2.2x
Fri, 03 Apr 2026Rp11970.0tRp5477.3tRp653.0t16.5x18.3x2.2x
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
Price to Earnings Ratio

16.6x


Total Market Cap: Rp10221.1tTotal Earnings: Rp616.7tTotal Revenue: Rp4971.9tTotal 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 16.6x which is lower than its 3-year average PE of 20.6x.
Past Earnings Growth
  • The earnings for Indonesian listed companies have grown 2.9% per year over the last three years.
  • Revenues for these companies have grown 5.7% 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-1.75%
Materials1.17%
Healthcare0.028%
Financials-0.24%
Tech-1.05%
Consumer Staples-1.38%
Industrials-1.55%
Telecom-2.37%
Real Estate-2.54%
Consumer Discretionary-2.79%
Utilities-5.20%
Energy-6.82%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 141x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.4%, which is higher than its past year's earnings growth of 2.3% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 13.7x.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
AMMN Amman Mineral InternasionalRp5.10k15.6%
+Rp50.0t		-37.2%PE38.2xMaterials
SRAJ Sejahteraraya AnugrahjayaRp14.00k6.1%
+Rp9.8t		55.6%PS63.4xHealthcare
IMPC Impack Pratama IndustriRp1.73k10.6%
+Rp9.0t		26.8%PE122.4xMaterials
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp2.69k3.1%
+Rp7.9t		-17.5%PE14.8xTelecom
CASA Capital Financial IndonesiaRp1.92k6.4%
+Rp6.3t		64.4%PE706.4xFinancials
See more

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Latest News

AMMN
Rp5,100.00
Amman Mineral Internasional
7D
15.6%
1Y
-37.2%
BYAN
Rp11,100.00
Bayan Resources
7D
-19.6%
1Y
-40.2%
SRAJ
Rp14,000.00
Sejahteraraya Anugrahjaya
7D
6.1%
1Y
55.6%
TLKM
Rp2,690.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
3.1%
1Y
-17.5%
Narrative Update • Sep 09

TLKM: Dividend Payout And Upcoming Meeting Will Support Future Upside

Analysts have trimmed their price target for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia, with the assessed fair value moving from about IDR 3,533 to roughly IDR 3,441 as they adjust assumptions on revenue growth, profit margins, and future P/E levels. What's in the News Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk has scheduled a Special or Extraordinary Shareholders Meeting for September 30, 2026, to be held via easy.ksei in Indonesia.
BMRI
Rp4,440.00
Bank Mandiri (Persero)
7D
1.1%
1Y
-2.0%
Narrative Update • Sep 07

BMRI: Higher Margins And Lower Risk Profile Will Support Stronger Confidence

Analysts have lowered their price target for Bank Mandiri (Persero) from IDR 5,397 to IDR 5,276, citing updated assumptions regarding discount rates, revenue growth, profit margins, and future P/E multiples. What's in the News There are currently no recent news items provided for Bank Mandiri (Persero) in the primary news source.
IMPC
Rp1,725.00
Impack Pratama Industri
7D
10.6%
1Y
26.8%
SMMA
Rp20,000.00
Sinar Mas Multiartha
7D
5.1%
1Y
28.2%
EMAS
Rp7,700.00
Merdeka Gold Resources
7D
-8.6%
1Y
n/a
TPIA
Rp1,865.00
Chandra Asri Pacific
7D
-5.6%
1Y
-76.5%
BBCA
Rp6,500.00
Bank Central Asia
7D
-1.9%
1Y
-19.0%
JARR
Rp3,830.00
Jhonlin Agro Raya
7D
20.8%
1Y
153.6%
BRPT
Rp1,655.00
Barito Pacific
7D
-6.5%
1Y
-29.3%
DSSA
Rp1,070.00
Dian Swastatika Sentosa
7D
-7.4%
1Y
-74.4%
MORA
Rp5,050.00
Mora Telematika Indonesia
7D
-7.3%
1Y
1,047.7%
CASA
Rp1,915.00
Capital Financial Indonesia
7D
6.4%
1Y
64.4%
BREN
Rp3,110.00
Barito Renewables Energy
7D
-6.6%
1Y
-65.0%