Industrial Services

Indonesia / Industrials /  Industrial Services

The Industrial Services subsector on the Indonesia Stock Exchange encompasses a range of industries such as diversified industrial trading, commercial printing, business support services, research and consulting services, office supplies, and human resource and employment services. This subsector plays a major role in Indonesia's market due to the country's growing economy and increasing demand for industrial services. As Indonesia continues to develop and modernize, businesses require support services, consulting, and office supplies, creating significant opportunities for companies in this subsector. Additionally, the rise of e-commerce and digitalization has further boosted the demand for services related to human resources and employment. Currently, this sub-sector appears to be on an upward trend, with a notable total market capitalization growth of approximately 28% over the last 365 days. However, a closer look at individual companies reveals that a larger number are showing negative changes (9) in market capitalization compared to those with positive changes (6). This indicates that the larger companies with positive changes are exerting a significant influence on the overall market capitalization, despite more companies experiencing declines. Notable companies in this subsector, based on market capitalization, include Jasuindo Tiga Perkasa Tbk, PT Multi Hanna Kreasindo Tbk, Astra Graphia Tbk, PT Satu Visi Putra Tbk, and PT Hoffmen Cleanindo Tbk.

Key Figures

Industrial Services companies on IDX

21

Total Market Cap. (IDR, billion)

IDR 8,539.88B

0.07% of total market cap. on IDX
Range of P/E Value

-3 - 270

Average of 7.4 P/E
Sector CAGR

> -10%

Compound Annual Revenue Growth of -10.99%

Industrial Services Sector Performance

IDR 8.54T

Sector Market Cap. (IDR, trillion)
  1. Last 4 Quarters

  2. Prev 4 Quarters

Sector Composition

Sector Valuation

Historical valuation of companies in Industrial Services
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)
Metric2020202120222023Current (TTM)
Price/Equity24.028.8413.4310.297.36Lower than average of last 3 years
Price/Book0.691.031.390.850.57Lower than average of last 3 yearsRanked 4 of all sectors
Price/Sales1.241.150.930.880.82Lower than average of last 3 years
Price/Cash Flow10.328.794.508.914.90Lower than average of last 3 years

Executive Summary

Sector Performance

1W

-0.1%

1Y

+25.0%

YTD

+19.3%

Trailing 12 Months

Overall +25.0%

−0.4−0.20.20.40.60.8

Positive

Neutral (Within <2.5%)

Negative

Sector Percentile

85%

35
55
75
0
100

This sector has a return that beats 85% of all sectors on the Indonesia Stock Exchange over the past 12 months.

Sector Dividend Yield

2.85%

Dividend-paying companies in this sector pay out a dividend yield of 2.85% on average over the past 12 months. This beats the average dividend yield of all companies on IDX, which is around 3.45%.

Sector Stabillity

84%

35
55
75
0
100

This sector is comparably stable, with a RSD (Relative Standard Deviation) of 15%. Companies on IDX have an average RSD of 14%. This gives the sector a score of 84%.

RSD (Relative Standard Deviation)
84%
The relative standard deviation, caluclated from the S.D of the sector's returns.
Max Drawdown
-39.38%
The maximum loss from a peak to a trough during a specific period (TTM).

This past month

Over the last month, stocks in the Industrial Services sector has remained flat, although notably PT Satu Visi Putra Tbk. has gained 25.75% in the last month.

Current quarter

This quarter, the sector has seen an average revenue decline of -10.99% compared to the same quarter last year.
When it comes to earnings, the sector has seen an average growth of 2.44% compared to the same quarter in 2023. Much of this growth is driven by the following companies:
LION.JK(+69.8%), SOSS.JK(+15.8%), KONI.JK(+14.0%), MFMI.JK(+10.7%), BINO.JK(+5.3%).

Last 12 Months

Companies in the Industrial Services sector have seen a +25.0% change in market cap over the last 12 months. This signifies a sector that is growing rapidly, with investors anticipating a sustained period of growth.

Most of the last 12 months in the Industrial Services sector has been positive with November (+83.3%), April (+23.5%) and August (+13.7%) being the best performing months.

Sector Valuation

Has the Industrial Services sector valuation in Indonesia changed over the past 12 months?

Price to Earnings Ratio

  • The Industrial Services sector is trading at a median PE ratio of 7.36x, which is lower than its 3-year historical average PE of 24.32x. This puts the sector in the undervalued category based on its historical valuation.
  • Companies in the Industrial Services have an extremely wide range of PE ratio, going between -3x to 270x.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 Perma Plasindo Tbk commands a premium with a PE ratio of 37.95 while Multifiling Mitra Indonesia Tbk is trading at a PE ratio of only 21.61.
  • When weighted by market cap, the Industrial Services sector is trading at a PE ratio of 24.32x as compared to the unweighted PE ratio of 7.36x. The unweighted sector median is a valuation that is largely on par with the overall IDX median of 8.07x.
  • The Industrial Services sector is trading at a PE ratio (7.36) that represents a substantial discount to its historical average (14.15).

Sector Gainers

VISI Logo
PT Satu Visi Putra Tbk.
VISI.JK
Last Trading Day

IDR 420.00

1 Month

+25.75%

MFMI Logo
Multifiling Mitra Indonesia Tbk
MFMI.JK
Last Trading Day

IDR 695.00

1 Month

+9.45%

1 Year

+0.72%

P/E Ratio

21.61

HYGN Logo
PT Ecocare Indo Pasifik Tbk.
HYGN.JK
Last Trading Day

IDR 146.00

1 Month

+7.35%

MUTU Logo
PT Mutuagung Lestari Tbk
MUTU.JK
Last Trading Day

IDR 79.00

1 Month

+5.33%

BINO Logo
PT Perma Plasindo Tbk
BINO.JK
Last Trading Day

IDR 141.00

1 Month

+2.17%

1 Year

+25.89%

P/E Ratio

37.95

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