Bisnis.com, JAKARTA — Shares of PT Darma Henwa Tbk. (DEWA) are trading at what many would deem premium valuations. At Rp500 apiece at Monday’s close (3/2/2026), the stock has a price-to-earnings (P/E) ratio of 65.50 times and a price-to-book value (PBV) of 4.56 times.

The metrics naturally prompt the question: does DEWA still merit accumulation? The Bakrie Group-affiliated mining contractor also trades well above the broader IDX Sector Energy, which stands at 32.07 times earnings and 2.30 times book value. Yet analysts remain unanimously bullish.

Bisnis.com, JAKARTA — A number of securities firms have recently issued revised price targets for PT Darma Henwa Tbk. (DEWA), whose shares have remained firmly in positive territory throughout 2025.

The upward revisions for the Bakrie Group–affiliated mining and energy contractor reflect, among other factors, confidence in the company’s long-term earnings growth prospects.