Holiday Season Over, Are Consumer Sector Stocks Still Worth Collecting?
JAKARTA, KOMPAS.com - The consumer sector in Q2 2026 faces challenges following the end of the holiday season, which had boosted household consumption.
On the other hand, the conflict in the Middle East also brings the risk of rising prices for manufacturing packaging raw materials in the consumer sector, which is dominated by plastic.
At the end of trading on Thursday (23/4/2026), the non-cyclical consumer sector weakened by 0.59 percent.
Equity Research Analyst at PT Kiwoom Sekuritas Indonesia, Abdul Azis Setyo Wibowo, stated that the prospects for the consumer sector are tending towards moderate in Q2 2026.
“With relatively limited growth in line with household consumption that is still recovering gradually,” he said to Kompas.com on Friday (24/4/2026).
Thus, business growth in the consumer sector relies more on sales volume and price stability.
Aziz explained that the consumer sector is still considered defensive because it is supported by daily needs.
However, in the current conditions, its resilience is starting to be pressured by weakening purchasing power as well as increases in raw material and operational costs.
“So margins become more sensitive,” he added.
Currently, Kiwoom Sekuritas is more recommending short-term trading such as ULTJ with a target of 1,640-1,710 and support at 1,475-1,400.
In general, in Q4 2025, the majority of issuers were able to record double-digit net profit growth (bottom line).
This indicates that demand for primary needs remains stable.
From the profitability and valuation side, each issuer shows different characteristics.
PT Campina Ice Cream Industri Tbk (CAMP) has a gross profit margin (GPM) of 47.5 percent. This figure reflects strong pricing power and product positioning, with a relatively moderate valuation at a price to earnings ratio (P/E) level of 17.0 times.
The price to earnings ratio (PER) is a financial ratio used to compare the current share price with earnings per share. This ratio is used to measure whether a stock’s valuation is reasonable or expensive.
Usually, a low PER number or below 10 is assumed to be a cheap price. Meanwhile, a high PER indicates high growth expectations or an overpriced share.
This figure makes the stock attractive from a value perspective.
On the other hand, Garudafood Putra Putri Jaya Tbk (GOOD) has a lower margin of 27.4 percent. However, this stock is traded at a higher valuation or with a P/E ratio of 18.8 times.
Ratih stated that the market is awaiting the release of Q1 2026 financial performance, which is expected to grow moderately, in line with the pattern seen in Q4 2025.
Seasonal momentum from major religious holidays is expected to remain the main driver of domestic consumption in the short term in Q1 2026.