Retailing

Indonesia / Consumer Cyclicals /  Retailing

The Retailing subsector on the Indonesia Stock Exchange encompasses a range of industries, such as electronics retail, apparel and textile retail, home improvement retail, automotive retail, department stores, and consumer distributors. This subsector plays a major role in Indonesia's market due to the country's history and potential. Indonesia has a large consumer base, with a growing middle class and increasing disposable income. Moreover, the country's strong economic growth and urbanization have led to a rise in consumer spending. Currently, this sub-sector appears to be on an upward trend, with a notable total market capitalization growth of approximately 7% over the last 365 days. However, a closer look at individual companies reveals that a larger number are showing negative changes (18) in market capitalization compared to those with positive changes (10). 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 Tunas Ridean Tbk, Mitra Adiperkasa Tbk, PT MAP Aktif Adiperkasa Tbk, Ace Hardware Indonesia Tbk, and Trikomsel Oke Tbk.

P/E Value

The Retailing sub-sector is typically considered cyclical, with historical P/E values fluctuating between moderate and high levels. The current P/E value for the Retailing sub-sector is higher compared to last year, indicating potential overvaluation. Factors such as increased consumer spending, strong economic growth, and market optimism may be influencing this shift. ...

14.28

Price to Earnings

Retailing Sector P/E
14.28
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).
Retailing Weighted Sector P/E
26.87
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/E
8.22

Resilience & Health Index

The Retailing sub-sector, with 30 companies, ranked 11th based on price changes in the last 30 days, outperforming the IDX. Seven out of the 30 companies saw positive price changes during this period. One possible reason for this outperformance could be the sector's resilience to economic downturns. The lack of new listings this month, with the last one in September 2023, ...

8.4

Sector Health Score

Retailing Sector Max Drawdown
-0.20
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
-0.26
Retailing RSD (Close)
0.11
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)
0.14

Sector Growth Index

The Retailing sub-sector in Indonesia has experienced a -8.32% average Year on Year (YoY) quarter earnings change and a 20.24% average YoY quarter revenue change in the past year. Ranking 24th in earnings and 9th in revenue compared to ...

9.3

Sector Growth Score

Trailing 3Y Retailing Sector Growth
+4.28%
This uses geometric mean to compute a measure of the sector's revenue growth over the last 3 years.
Retailing Current Revenue Growth
20.22%
The change in revenue this quarter compared to the same period a year ago.
Retailing Current Earnings Growth
-8.12%
The change in earnings per share (EPS) this quarter compared to the same period a year ago.
Retailing 1Y Market Cap Growth
+4.95%
The change in market capitalization relative to the same period a year ago.
Retailing Recent Performance
61st
Recent growth beats 61% of all sectors in Indonesia.
Retailing '24 Revenue Growth Forecast
+35.58%
The estimated change in revenue for the Retailing sector in 2024.
Retailing '24 Earnings Growth Forecast
+22.27%
The estimated change in earnings for the Retailing sector in 2024.

Top Companies

Most profitable companies in Retailing

Company

Profit (billion)

2102.15

1408.34

959.63

827.42

798.46

Key Figures

Retailing companies on IDX

30

Total Market Cap. (IDR, billion)

IDR 128,786.14B

1.08% of total market cap. on IDX
Range of P/E Value

-100 - 587

Average of 14.3 P/E
Sector CAGR

> 20%

Compound Annual Revenue Growth of 20.22%

Retailing Sector Performance

IDR 128.79T

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

  2. Prev 4 Quarters

Sector Composition

Sector Valuation

Historical valuation of companies in Retailing
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)
Metric202020212022Current (TTM)
Price/Equity-2.3912.1811.4914.28Higher than average of last 3 years
Price/Book1.301.431.450.99Lower than average of last 3 years
Price/Sales0.690.751.120.93Higher than average of last 3 years
Price/Cash Flow4.729.575.869.93Higher than average of last 3 years

Executive Summary

Sector Performance

1W

+0.7%

1Y

+4.9%

YTD

+7.2%

Trailing 12 Months

Overall +4.9%

−0.050.05

Positive

Neutral (Within <2.5%)

Negative

Sector Percentile

61%

35
55
75
0
100

This sector has a return that beats 61% of all sectors on the Indonesia Stock Exchange over the past 12 months.

Sector Dividend Yield

1.88%

Dividend-paying companies in this sector pay out a dividend yield of 1.88% on average over the past 12 months. This beats the average dividend yield of all companies on IDX, which is around 3.23%.

Sector Stabillity

90%

35
55
75
0
100

This sector is fairly stable, with a RSD (Relative Standard Deviation) of 11%. Companies on IDX have an average RSD of 12%. This gives the sector a score of 90%.

RSD (Relative Standard Deviation)
90%
The relative standard deviation, caluclated from the S.D of the sector's returns.
Max Drawdown
-20.26%
The maximum loss from a peak to a trough during a specific period (TTM).

This past month

Over the last month, stocks in the Retailing sector has remained flat, although notably Sona Topas Tourism Industry Tbk has gained 141.13% in the last month.

Current quarter

This quarter, the sector has seen an average revenue growth of 20.22% compared to the same quarter last year.
When it comes to earnings, the sector has seen an average decline of -8.12% compared to the same quarter in 2023. Much of this growth is driven by the following companies:
SONA.JK(+89.0%), GLOB.JK(+48.7%), MAPA.JK(+42.8%), CARS.JK(+25.8%), MAPI.JK(+24.6%).

Last 12 Months

Companies in the Retailing sector have seen a +4.9% change in market cap over the last 12 months. A decline in market cap over the last 12 months is not necessarily a bad thing. It could be that investors are readjusting expectations for the sector, or affected by rotation into other higher-growth sectors.

Most of the last 12 months in the Retailing sector has been negative with May (+10.0%), July (+6.9%) and January (+6.6%) being the best performing months.

Sector Valuation

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

Price to Earnings Ratio

  • The Retailing sector is trading at a median PE ratio of 14.28x, which is lower than its 3-year historical average PE of 26.87x. This puts the sector in the undervalued category based on its historical valuation.
  • Companies in the Retailing have an extremely wide range of PE ratio, going between -100x to 587x.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, Sona Topas Tourism Industry Tbk commands a premium with a PE ratio of 373.63 while PT Globe Kita Terang Tbk is trading at a PE ratio of only -1.33.
  • When weighted by market cap, the Retailing sector is trading at a PE ratio of 26.87x as compared to the unweighted PE ratio of 14.28x. The unweighted sector median is a significant premium (1.7x) to the overall IDX median of 8.22x.
  • The Retailing sector is trading at a PE ratio (14.28) that represents a significant premium to its historical average (7.09).

Sector Gainers

SONA Logo
Sona Topas Tourism Industry Tbk
SONA.JK
Last Trading Day

IDR 1,700.00

1 Month

+141.13%

1 Year

+2.72%

P/E Ratio

373.63

SLIS Logo
PT Gaya Abadi Sempurna Tbk
SLIS.JK
Last Trading Day

IDR 68.00

1 Month

+25.93%

1 Year

-60.92%

P/E Ratio

5.07

ASLC Logo
PT Autopedia Sukses Lestari Tbk
ASLC.JK
Last Trading Day

IDR 119.00

1 Month

+20.20%

1 Year

+45.12%

P/E Ratio

81.85

ACES Logo
Ace Hardware Indonesia Tbk
ACES.JK
Last Trading Day

IDR 930.00

1 Month

+10.71%

1 Year

+98.72%

P/E Ratio

19.94

GLOB Logo
PT Globe Kita Terang Tbk
GLOB.JK
Last Trading Day

IDR 84.00

1 Month

+6.33%

1 Year

-20.75%

P/E Ratio

-1.33