PT Semen Baturaja Tbk (SMBR) has dropped 11.7% from its peak, but still considered the most expensive cement stock in the market. It is now traded with PE multiple 101.2 on its historical 2016 earnings, while market leader PT Semen Indonesia Tbk (SMGR) is traded with PE multiple 12. While sales revenues grew 4.2%, net profit collapsed 26.8% to Rp259 billion only last year.To subscribe please click here