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INDEKS LQ45 - Indonesia's LQ45 by Valuation: The 10 Lowest and Highest PER Stocks (November 6, 2026)
Key takeaways
- Foreign investors net bought Rp 328.20 billion on the Indonesia Stock Exchange (IDX) on Friday, November 6, in a session worth Rp 10.3 trillion across 46.78 billion shares.
- Among LQ45 members, state-owned lender Bank Tabungan Negara (BBTN) is the cheapest stock at a price-earnings ratio of 2.69x, while tech group GoTo Gojek Tokopedia (GOTO) is the priciest at 24.00x.
- Cement maker Semen Indonesia (SMGR) was the best performer among the 20 stocks covered, up 3.28%, while poultry producer Japfa Comfeed (JPFA) was the worst, down 6.91%.
JAKARTA - Trading in LQ45 members on the IDX ended mixed on Friday, November 6, 2026, with selective gains across Indonesia's blue-chip index as the bourse turned over Rp 10.3 trillion in 46.78 billion shares and foreign investors net bought Rp 328.20 billion.
For investors screening for value, Kontan's data desk has compiled the index's cheapest and most expensive stocks by earnings multiple.
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PER and PBV, explained
The price-earnings ratio (PER) shows how many times a stock's price compares with its net profit per share - in effect, what investors pay for each rupiah of earnings. The price-to-book value (PBV) compares the share price with the company's net assets per share. Read together, they are a quick valuation screen.
A low PER can signal undervaluation - or a market bracing for cyclical earnings to normalize from recent highs - while a high PER can reflect growth expectations or a thin earnings base. Cheap, in other words, is not automatically a buy.
The 10 cheapest LQ45 stocks by PER
Data as of the November 6, 2026 close (source: Kontan Data Center and RTI):
| Code | Sector | Close (Rp) | PER (x) | PBV (x) | Change |
|---|---|---|---|---|---|
| BBTN | Bank (state-owned) | 920 | 2.69 | 0.34 | +0.55% |
| MEDC | Oil and gas | 1,200 | 3.07 | 0.73 | -0.83% |
| INKP | Pulp and paper | 6,425 | 3.19 | 0.27 | -0.77% |
| NCKL | Nickel mining | 725 | 3.94 | 0.97 | -2.03% |
| JPFA | Poultry and feed | 1,550 | 4.22 | 0.85 | -6.91% |
| ELSA | Oil and gas services | 555 | 4.44 | 0.72 | 0.00% |
| AADI | Coal | 10,150 | 4.85 | 1.16 | -0.98% |
| PGAS | Gas utility | 1,430 | 4.97 | 0.68 | +1.06% |
| HRTA | Gold jewelry | 1,340 | 5.15 | 1.57 | -5.30% |
| ADRO | Coal | 2,310 | 5.37 | 0.73 | -0.86% |
PGAS (PT Perusahaan Gas Negara) led the gains in this group after climbing 1.06%, followed by BBTN (PT Bank Tabungan Negara (Persero)) at 0.55%.
On the losing side, JPFA (PT Japfa Comfeed Indonesia) suffered the deepest fall at 6.91%, followed by gold jewelry maker HRTA (PT Hartadinata Abadi) at 5.30% and nickel miner NCKL (PT Trimegah Bangun Persada) at 2.03%, while ELSA (PT Elnusa) closed flat.
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The 10 most expensive LQ45 stocks by PER
Data as of the November 6, 2026 close (source: Kontan Data Center and RTI):
| Code | Sector | Close (Rp) | PER (x) | PBV (x) | Change |
|---|---|---|---|---|---|
| GOTO | Technology | 24 | 24.00 | 0.83 | 0.00% |
| BUMI | Coal | 115 | 19.17 | 1.44 | -2.54% |
| INDY | Coal and energy | 1,770 | 19.03 | 0.42 | -0.28% |
| MBMA | Nickel-cobalt | 302 | 16.78 | 1.12 | -2.58% |
| UNTR | Heavy equipment and mining | 23,025 | 14.43 | 0.87 | -2.02% |
| BRPT | Petrochemicals | 850 | 14.41 | 1.78 | -6.59% |
| MDKA | Copper and gold | 2,020 | 13.65 | 3.14 | -5.16% |
| SMGR | Cement | 1,415 | 13.48 | 0.22 | +3.28% |
| DEWA | Mining services | 224 | 13.18 | 1.10 | -2.61% |
| PGEO | Geothermal power | 930 | 12.92 | 1.06 | -2.11% |
SMGR (PT Semen Indonesia (Persero)) posted the strongest gain of the entire 20-stock list, up 3.28%. Barito Pacific (BRPT) was the biggest decliner at 6.59%, followed by Merdeka Copper Gold (MDKA) at 5.16% and mining contractor Darma Henwa (DEWA) at 2.61%, while GOTO (PT GoTo Gojek Tokopedia) was flat.
Notably, SMGR also carries the lowest PBV of all 20 stocks combined, at just 0.22x.
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How to read this list
Valuation screens like this one are a starting point, not a shopping list. The cheapest names cluster in cyclical sectors - coal, gas, pulp and paper - where today's low multiples partly mirror earnings that are already elevated.
At the other end, GOTO's 24.00x sits on a very different earnings base. The practical takeaway: pair the multiples with earnings prospects, balance-sheet quality and liquidity before acting on them.
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Source and attribution
This article is an English-language adaptation of reporting originally published in Indonesian by Kontan.co.id: "Daftar 10 Saham LQ45 dengan PER Terendah & Tertinggi (6 November 2026)" (https://investasi.kontan.co.id/news/daftar-10-saham-lq45-dengan-per-terendah-tertinggi-6-november-2026), published November 9, 2026 (4:52 a.m. WIB), reported and edited by Hasbi Maulana. Stock data sourced from Kontan Data Center and RTI, as of the November 6, 2026 close. Sector labels are added for international readers' context.
Disclaimer
This article is for information only and does not constitute investment advice. PER and PBV readings are snapshots of a single trading day and can change quickly; a low ratio is not a buy signal by itself. Always verify current prices and company fundamentals through official exchange data and consult a licensed financial advisor before making any investment decision.
