Industrial Goods Sector Report | Indonesia Sector Reports | Sectors | Indonesian Financial Data Platform
Industrial Goods
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Indonesia Sector Highlight: Industrial Goods
The Industrial Goods sector is integral to Indonesia’s manufacturing and construction industries, providing machinery, tools, and equipment essential for production and infrastructure projects. Regulated by the Ministry of Industry (Kementerian Perindustrian), it ensures that Indonesia's industrial goods meet both domestic and global demands. The Indonesian Association of Heavy Equipment Manufacturers (IMME) plays a pivotal role in fostering collaboration, technical advancements, and promoting the growth of the heavy equipment industry. Currently, this sub-sector appears to be amidst a bearish trend, marked by an overall market capitalization depreciation of approximately -2.35% over the past 365 days. However, upon closer examination of individual companies, it's evident that more companies are undergoing positive changes (28) in market capitalization compared to those experiencing negative changes (8). This suggests that larger companies with negative changes are exerting significant influence despite more companies having upward trends. Notable companies in this subsector, based on market capitalization, include PT Grand Kartech Tbk, PT Steadfast Marine Tbk, United Tractors Tbk, PT Impack Pratama Industri Tbk, and Hexindo Adiperkasa Tbk.
Top Companies
Revenue and Profit are the respective sums of the trailing twelve months (TTM) data, or 4 most recent quarters, while Growth is the year-on-year revenue growth rate.
Companies in this sector have a range of -48x to 994x
Market Cap. Change
+14.50%
Change in market cap., year-to-date
Industrial Goods Sector Performance
IDR 176.69T
Sector Market Cap. (IDR, trillion)
Last 4 Quarters
Prev 4 Quarters
-6.1% change in Industrial Goods
The Industrial Goods sector is experiencing the same growth as (-17.0%) its growth in the previous comparable period (-9.2%) with the current quarter showing an improvement (-6.1%) over the previous quarter
Sector Composition
Extremely Concentrated Sector
The top 5 companies in this sector make up 85.7% of the total market cap of this sector.
Sector Valuation
Historical valuation of companies in Industrial Goods
More than 5% deviation of median from the last 3 years
Within 5% deviation of median of last 3 years
TTM: Trailing Twelve Months (TTM)
Metric
2021
2022
2023
2024
Current (TTM)
Price/Equity
7.04
8.92
4.75
6.59
7.80
Higher than average of last 3 years
Price/Book
1.07
0.98
0.89
0.62
0.97
Within 5% deviation of average of last 3 years
Price/Sales
0.67
1.06
0.66
0.72
0.65
Lower than average of last 3 years
Price/Cash Flow
4.07
2.96
4.19
5.22
5.82
Higher than average of last 3 years
Executive Summary
Sector Performance
1W
+4.8%
1Y
+14.7%
YTD
+14.5%
Trailing 12 Months
Overall +14.7%
Positive
Neutral (Within <2.5%)
Negative
Sector Percentile
67%
35
55
75
100
0
100
This sector has a return that beats 67% of all sectors on the Indonesia Stock Exchange over the past 12 months.
Sector Dividend Yield
4.77%
Dividend-paying companies in this sector pay out a dividend yield of 4.77% on average over the past 12 months. This beats the average dividend yield of all companies on IDX, which is around 2.92%.
Sector Stabillity
91%
35
55
75
100
0
100
This sector is fairly stable, with a RSD (Relative Standard Deviation) of 12%. Companies on IDX have an average RSD of 14%. This gives the sector a score of 91%.
RSD (Relative Standard Deviation)91%
The relative standard deviation, caluclated from the S.D of the sector's returns.
Max Drawdown-29.67%
The maximum loss from a peak to a trough during a specific period (TTM).
This past month
The Industrial Goods sector enjoyed a positive month in the month ending 2025-07-31, with the sector seeing a change of market cap of +16.8%.
On a month to date basis, Indonesian companies in the Industrial Goods sector are up by +17.4% as of 2025-08-22.
Companies in the Industrial Goods sector have seen a +14.66% change in market cap over the last 12 months. This is typical of a more mature sector, where investors are expecting reasonable growth to continue over the next few years.
Most of the last 12 months in the Industrial Goods sector has been negative with August (+17.4%), July (+16.8%) and March (+4.7%) being the best performing months.
At the same time, it should also be noted that the sector has seen a back-to-back consecutive loss of 4 months starting from the most recent November. Successive losses can indicate a potential downward trend in the sector, and while it might be temporary headwinds that the sector is facing, it is important to monitor the sector closely.
Its worst performing month was January with a -8.41% change in market cap.
Sector Valuation
Has the Industrial Goods sector valuation in Indonesia changed over the past 12 months?
Price to Earnings Ratio
The Industrial Goods sector is trading at a median PE ratio of 7.80x, which is lower than its 3-year historical average PE of 26.23x. This puts the sector in the undervalued category based on its historical valuation.
Companies in the Industrial Goods have an extremely wide range of PE ratio, going between -48x to 994x.This makes it necessary to consider the outliers in the sector, and adjust for the respective market caps of each company to prevent any skewing of the data.
To add some perspective across the value disparity, among the top gainers in the last month,PT Impack Pratama Industri Tbk commands a premium with a PE ratio of 78.82 while PT Harapan Duta Pertiwi Tbk. is trading at a PE ratio of only -32.67.
When weighted by market cap, the Industrial Goods sector is trading at a PE ratio of 26.23x as compared to the unweighted PE ratio of 7.80x. The unweighted sector median is a considerable discount (1.3x) to the overall IDX median of 10.01x.
The Industrial Goods sector is trading at a PE ratio (7.80) that represents a a valuation consistent with its historical average (6.83).
On August 19, 2025, Axel Tobias Joel, an insider shareholder, sold 32,559,868 shares of PT Geoprima Solusi Tbk, changing its holding from 50,000,000 to 17,440,132 shares.
On August 19, 2025, PT Sibalec, an institution shareholder, bought 69,882,400 shares of Kabelindo Murni Tbk, changing its holding from 381,134,800 to 451,017,200 shares.
On August 15, 2025, PT Harimas Tunggal Perkasa, an institution shareholder, sold 600,000,000 shares of PT Impack Pratama Industri Tbk, changing its holding from 24,874,395,000 to 24,274,395,000 shares.
On August 15, 2025, PT Tunggal Jaya Investama, an institution shareholder, sold 800,000,000 shares of PT Impack Pratama Industri Tbk, changing its holding from 23,929,426,194 to 23,129,426,194 shares.
On August 08, 2025, PT Morris Capital Indonesia, an institution shareholder, bought 174,675,000 shares of PT Multi Makmur Lemindo Tbk., changing its holding from 0 to 174,675,000 shares.
News of Companies in Industrial Goods Sector, Indonesia
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P/E Value
The Industrial Goods sub-sector is typically considered cyclical rather than defensive, with historical P/E values fluctuating between moderate and high levels. The current lower P/E value compared to last year's P/E value for the Industrial Goods sub-sector may be influenced by factors such as decreased demand for industrial products, lower earnings forecasts, or overall ...
7.80
Price to Earnings
Sector is undervalued on IDX
Industrial Goodssector is, as a whole,undervaluedgiven its earnings and growth potential compared to other sectors on the Indonesian Stock Exchange
Industrial Goods Sector P/E7.80
The Price-to-Earnings (P/E) ratio is a key tool for investors and analysts to assess whether a stock is overvalued, undervalued, or fairly valued. The P/E ratio is calculated by dividing the market price of a company's stock by its earnings per share (EPS).
Industrial Goods Weighted Sector P/E26.23
The weighted average P/E ratio is a measure of the average P/E ratio of the companies in the sector, weighted by market capitalization.
Indonesia Stocks Avg. P/E10.01
Resilience & Health Index
In the Industrial Goods sub-sector of the Indonesia index, with 40 companies, only 13 have seen positive price changes in the last 30 days, ranking the sub-sector 30th in terms of price changes. The average price changes for this sub-sector have been worse than the overall index average, possibly due to economic slowdown affecting demand for industrial goods. The lack of new ...
7.9
Sector Health Score
Sector is moderately resilient
Industrial Goodsas a sector is consideredhealthyrelative to other sectors on IDX
Industrial Goods Sector Max Drawdown-0.30
The maximum drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown (MDD) is an indicator of downside risk over a specified time period.
Indonesia Stocks Avg. Max Drawdown-0.40
Industrial Goods RSD (Close)0.12
The RSD (Close) is a measure of the volatility of a stock's daily price change. It is calculated as the standard deviation of each day's logarithmic returns summed over the past 90 days.
Indonesia Stocks Avg. RSD (Close)0.20
Sector Growth Index
The Industrial Goods sub-sector in Indonesia has shown strong growth in the past year, with average annual earnings and revenue growth changes of 26.01% and 4.32% respectively. Despite ranking 12th in earnings and 21st in revenue ...
10.0
Sector Growth Score
Sector anticipating strong growth prospects
Industrial Goodsis among thefastest growing sectorson IDX
